Missouri Revised Statutes
Chapter 362
Banks and Trust Companies
←362.222
Section 362.225.1
362.230→
August 28, 2015
Reserve depositaries.
362.225. Missouri banks and depository trust companies shall maintain
reserves against aggregate deposits as provided by the Federal Reserve Act
and any amendments thereto or of regulations duly adopted and promulgated
under the Federal Reserve Act for banks and trust companies of similar size
and classification according to the requirements for the Federal Reserve
District in which the bank or deposit trust company is located. Federal
Reserve Banks located in this state are approved depositories for all banks
and trust companies.
(RSMo 1939 § 7956, A.L. 1967 p. 445, A.L. 1977 S.B. 420, A.L. 2005
H.B. 707)
Prior revisions: 1929 § 5361; 1919 § 11744
CROSS REFERENCE:
Reserve requirements, federal regulations to take precedence, when,
362.231
1991
1991
362.225. 1. Any bank or trust company may keep not more
than fifty percent of the reserves on deposit provided for by
sections 362.210, 362.215 and 362.217 invested in:
(1) Unencumbered obligations of the United States government
or obligations which are fully guaranteed as to principal and
interest by the United States government maturing in five years
or less; or
(2) Unencumbered funds sold to approved depositaries to the
extent permitted by the Federal Deposit Insurance Corporation for
insured institutions; or
(3) Securities of the type eligible for investment under
subdivision (1) purchased from approved depositaries under
agreements to resell, to the extent permitted by the Federal
Deposit Insurance Corporation for insured institutions.
2. All required reserves not so invested may be kept in a
depositary or depositaries designated by it, and which, except as
otherwise provided in said sections, shall be a bank, trust
company or national banking association approved by the finance
director.
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