(a) The Agency shall from time to time notify banking firms at their respective head offices of the necessity of maintaining a cash reserve against deposits and such other similar liabilities as shall be specified for this purpose. This reserve shall consist of either liquid funds to be maintained by the banking firms or credit balance in their accounts with the Agency, in such percentages as the Agency shall from time to time determine. However, in case the amount of the mandatory cash reserve maintained by any banking firm in its account with the Agency exceeds ten percent, the Agency may in such a case pay interest to such banking firm on the excess.

(b) The Agency shall have the right to set different percentages for the liquidity reserve according to the different classes of deposits and other similar liabilities, and shall have the right to determine the method of calculation of such percentages. This reserve or any increase in its percentage shall be imposed only after a reasonable notice period to be announced by the Agency.

(c) If the balance of the cash reserves of any banking firm falls short of what it should be under the provisions of this Article, the Agency shall impose upon such banking firm a fine at an annual percentage which shall not exceed by. more than five percentage points the maximum interest rate set by the Agency for its own transactions, in accordance with Article (34), at the time of the deficit. This fine shall be calculated on the amount of the deficit for each day that the deficit persists.