He added that there would also be no impact on future financial results because of adequate legal reserves.

The bank's legal reserves stand at about $3.6 billion.

The gain included the reduction of a legal reserve amounting to $55 million before taxes.

Also in 1938, the officers asked the insurance commission to allow them to convert from assessment to legal reserve status.

It also took a $150 million pretax charge, or $93 million after taxes, to add to its legal reserve.

It is reflected in Citigroup's $6.7 billion legal reserve, which is $2 billion greater.

Excluding the legal reserve and other one-time events, earnings were $722 million, or 15 cents a share, a penny more than analysts expected.

Last year, Citigroup increased its legal reserves to $6.7 billion, after the WorldCom settlement.

Also, the UG must accumulate 25% of its yearly earnings as legal reserve until it reaches €25,000.

The ratios of the banks' legal reserves in the Central Bank in 2009 were as follows:

Countries have also implemented legal reserve requirements which impose minimum reserve requirements on banks.

Dole did note in a conference call with analysts last November that it had increased its legal reserves by more than $10 million because of the lawsuits.

Legal reserve of inheritance

The $2.3 billion charge this quarter brings J.P. Morgan's total legal reserves to $4.7 billion.

Opposition Grows, And Violence Follows A decade later, little progress has been made on the legal reserve.

This practice, which is known as fractional reserve banking, permits the total supply of credit to exceed the liquid legal reserves of the bank.

Still, despite having increased their legal reserves, experts estimate that the cost to firms for settling government and civil litigation could exceed $10 billion in the coming years.

Bear Stearns said yesterday that it was setting aside an additional $100 million in legal reserves in connection with an investigation into improper mutual fund trading.

Robert Baker, a spokesman for Salomon, said yesterday that "we believe our legal reserves are adequate" to cover potential problems with Ms. Wu's customers.

legal reserve fund - it is required in many legislations and it must be paid as a percentage of share capital

There has been controversy over the code, mostly centered around legal requirement for landowners in the Brazilian Amazon to maintain 80% of forests as legal reserves.

The start of the Sport South Network Ltd., a regional sports cable channel, hurt earnings in the sports division, as did increased legal reserves.

Under this system, which is currently practiced throughout the world, the money supply varies with the quantity of legal reserves and the amount of credit issuance by banks.

legal reserve fund from profit - many legislations require creation of the fund as a percentage of profits

J.P. Morgan Chase reported a second-quarter loss of $548 million, largely because of a $2.3 billion after-tax charge it is taking to add to its legal reserves.