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2016 New York Laws
BNK - Banking
Article 4 - (Banking) PRIVATE BANKERS.
167 - Reserves against deposits.

NY Banking L § 167 (2016) What's This?
 167.  Reserves against deposits. Every private banker shall maintain
  total reserves against his deposits of the same amount and kind  and  on
  hand  or  on deposit to the same extent as is at the time required by or
  pursuant to the provisions of this chapter of a bank doing  business  in
  the same place.

If  any private banker shall fail to maintain the reserves required by
  this section, he shall be liable  for  and  shall  pay  any  assessments
  levied by the superintendent as provided in article two of this chapter.

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