N.Y. Banking Law § 19: Assessments for deficiency in reserves against deposits

§ 19. Assessments for deficiency in reserves against deposits. If any

banking organization or branch of a foreign banking corporation shall

not maintain the total reserves prescribed by or pursuant to this

chapter, the superintendent may levy an assessment upon it for such

period as any deficiency in its total reserves amounting to one per

centum or more of its deposits against which reserves are required to be

maintained shall continue, at rates not in excess of the following:

(1) Six per centum per annum upon any such deficiency not exceeding

two per centum of such deposits.

(2) Eight per centum per annum upon any additional deficiency in

excess of two and not exceeding three per centum of such deposits.

(3) Ten per centum per annum upon any additional deficiency in excess

of three and not exceeding four per centum of such deposits.

(4) Twelve per centum per annum upon any additional deficiency

therein.