N.Y. BNK Law § 19
This is the official text of N.Y. BNK Law § 19, part of New York’s BNK Law — part of the compiled statutory law of New York, published by the state as "BNK Law." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Assessments for deficiency in reserves against deposits
Official statutory text
§ 19. Assessments for deficiency in reserves against deposits. If any\nbanking organization or branch of a foreign banking corporation shall\nnot maintain the total reserves prescribed by or pursuant to this\nchapter, the superintendent may levy an assessment upon it for such\nperiod as any deficiency in its total reserves amounting to one per\ncentum or more of its deposits against which reserves are required to be\nmaintained shall continue, at rates not in excess of the following:\n (1) Six per centum per annum upon any such deficiency not exceeding\ntwo per centum of such deposits.\n (2) Eight per centum per annum upon any additional deficiency in\nexcess of two and not exceeding three per centum of such deposits.\n (3) Ten per centum per annum upon any additional deficiency in excess\nof three and not exceeding four per centum of such deposits.\n (4) Twelve per centum per annum upon any additional deficiency\ntherein.\n
Status: in_force · Read it on the official government site
Need a lawyer in New York?
Find a New York lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.