221.02055 Reserves.
152 words·~1 min read·
/wi/chapter-221/221-02055A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
221.02055 Reserves.
(1)Definitions. In this section:
(a)“Municipal obligation” has the meaning given in s. 67.01
(6).
(b)“Short-term” means maturing within 18 months or less.
(2)Reserve requirements. A bank shall maintain sufficient reserves to meet anticipated withdrawals, commitments and loan demand. A bank shall maintain at least the level of reserves required for it by the federal reserve system. The division may prescribe additional reserve requirements for an individual bank based on examination findings or other reports available to the division.
(3)Permitted reserves. A bank’s reserves consist of all of the following:
(a)Cash.
(b)Cash items in the process of collection.
(c)Short-term obligations of or demand balances with other insured financial institutions in the United States.
(d)Short-term obligations of or guaranteed by the federal government.
(e)Short-term obligations of this state.
(f)Short-term municipal obligations.
(g)Short-term obligations approved by rule of the division.