Nevada § 666A.260 State branch: Maintenance of reserve against deposits

Nevada Statutes

§ 666A.260 — State branch: Maintenance of reserve against deposits

Nevada § 666A.260

Title 55BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL

Ch. 666AForeign

OPERATION

This text of Nevada § 666A.260 (State branch: Maintenance of reserve against deposits) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 666A.260 (2026).

Text

1.Except as otherwise provided in subsection 2, a foreign bank which is licensed to establish and maintain a state branch shall at all times maintain a reserve against the deposits of the state branch as may from time to time be required to be maintained, pursuant to regulations issued by the Board of Governors of the Federal Reserve System, by a Nevada bank which is a member of the Federal Reserve System. The reserve must be maintained with a Nevada bank or national bank which the foreign bank designates and the commissioner approves.

2.A foreign bank which is required to maintain reserves pursuant to the authority granted the Board of Governors of the Federal Reserve System in section 7(a)(1)(B) of the federal International Banking Act (12 U.S.C. § 3105(a)(1)(B)) is exempt from the req

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1. Except as otherwise provided in subsection 2, a foreign bank which is licensed to establish and maintain a state branch shall at all times maintain a reserve against the deposits of the state branch as may from time to time be required to be maintained, pursuant to regulations issued by the Board of Governors of the Federal Reserve System, by a Nevada bank which is a member of the Federal Reserve System. The reserve must be maintained with a Nevada bank or national bank which the foreign bank designates and the commissioner approves.
2. A foreign bank which is required to maintain reserves pursuant to the authority granted the Board of Governors of the Federal Reserve System in section 7(a)(1)(B) of the federal International Banking Act (12 U.S.C. § 3105(a)(1)(B)) is exempt from the requirements of this section.