1 Va. Admin. Code § 75-20-50 - Average daily balance computation
A. The average daily balance for any month
shall be derived by dividing the sum of the daily balances of any item being
computed by the number of calendar days in the month.
B. In computing the amount of public deposits
and the average balance of public deposits to be collateralized during any
month, there shall be excluded the amount of each deposit that is insured by
the Federal Deposit Insurance Corporation.
Notes
Statutory Authority: § 2.2-4405 of the Code of Virginia.
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