Idaho State Statutes - Idaho Attorney Directory

Every bank, not a member of the Federal Reserve System,
shall have on hand each day as a reserve, an amount equal to at least ten per
cent (10%) of its net demand deposits and four per cent (4%) of its savings
and time deposits. Said reserve shall be in cash in its vaults or held on
deposit subject to check with any other bank or banks which shall have been
approved by the director as reserve depositories and shall be computed
biweekly in the following manner: on the basis of average daily net deposit
balances and average daily cash in its vaults or held on deposit in reserve
depositories subject to check during the prior biweekly period. Biweekly
periods shall end at the close of business on days to be fixed by the
director. Notwithstanding the above, upon an annual showing by a bank, not a
member of the Federal Reserve System, that it is subject to the reserve
requirements of the Federal Reserve Act, the director may waive the reserve
requirements of this act.
Any bank which is or becomes a member of the Federal Reserve System, shall
comply with the reserve requirements of the Federal Reserve act.

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