Can you summarize MORS 362.225?

Short Summary

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

Jurisdiction

Missouri

Source

• Banking