Canadian English Meaning of reserve city
reserve city
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Definitions and Meaning of reserve city in English
reserve city ()
In the national banking system of the United States, any of certain cities in which the national banks are required (U. S. Rev. Stat. sec. 5191) to keep a larger reserve (25 per cent) than the minimum (15 per cent) required of all other banks. The banks in certain of the reserve cities (specifically called central reserve cities) are required to keep their reserve on hand in cash; banks in other reserve cities may keep half of their reserve as deposits in these banks (U. S. Rev. Stat. sec. 5195).
FAQs About the word reserve city
reserve city
In the national banking system of the United States, any of certain cities in which the national banks are required (U. S. Rev. Stat. sec. 5191) to keep a large
No synonyms found.
No antonyms found.
reserve bank => Reserve bank, reserve assets => Reserve assets, reserve account => Reserve account, reserve => reserve, reservatory => reservoir,
