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Code · Arizona · Title 6 — Banks and Financial Institutions

6-275. Computation of reserves

67 words·~1 min read·/az/title-6/6-275

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Compliance with reserve requirements shall be determined as of the close of business on the first Thursday following the effective date of this chapter and every alternate Thursday thereafter on the basis of the average daily reserves maintained during the fourteen day period ending on such Thursday and the average daily net deposit balances for the fourteen day period ending on the Tuesday previous to such Thursday.
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