The Commissioner may not establish interest rates to be paid or charged by an international financial institution.\nNotwithstanding the foregoing, in the case of licensed international financial institutions expressly authorized to receive deposits in accordance with clauses (1) and (2) of subsection (a) of § 3091 of this title, the Commissioner may establish reserve requirements, that in no case shall exceed twenty percent (20%) of the total demand deposits maintained by the international financial institution (except for the demand deposits maintained by the Government Development Bank for Puerto Rico and the Economic Development Bank for Puerto Rico that are duly secured by cash collateral.) The Commissioner shall establish the reserve requirements, computation method, and other details in the licenses concerned or the regulations, circular letter, or any other written communication.\nHistory —Sept. 25, 2012, No. 273, § 4.
Puerto Rico Legal Code