N.Y. Banking Law § 167

§ 167. Reserves against deposits. Every private banker shall maintain\ntotal reserves against his deposits of the same amount and kind and on\nhand or on deposit to the same extent as is at the time required by or\npursuant to the provisions of this chapter of a bank doing business in\nthe same place.\n If any private banker shall fail to maintain the reserves required by\nthis section, he shall be liable for and shall pay any assessments\nlevied by the superintendent as provided in article two of this chapter.\n