In determining the legal reserves required by this article a bank may deduct from its gross deposits such deposits as are lawfully secured and each deposit balance due to another bank to the extent of a reciprocal deposit due from such other bank.
A.R.S. § 6-272
Deposits exempt from reserve requirement
Official source: Arizona State Legislature. Reproduced from public-domain Arizona statutes; confirm against the official source for the current text. Not legal advice.