Restrictions on Cash and Due from Banks

12 Months Ended

Dec. 31, 2022


NOTE 4		Restrictions on Cash and Due from Banks

Banking regulators require bank subsidiaries to maintain minimum average reserve balances, either in the form of vault cash or reserve balances held with central banks or other financial institutions. The amount of required reserve balances were approximately $45 million and $78 million at December 31, 2022 and 2021, respectively. The Company held balances at central

banks and other financial institutions of $41.6 billion and $23.0 billion at December 31, 2022 and 2021, respectively, to meet these

requirements and for other purposes. These balances are included in cash and due from banks on the Consolidated Balance Sheet.