How large are total reserve requirements for all depository institutions?
As of November 2001, aggregate required reserves of depository institutions were $39.1 billion, according to the Federal Reserve Board’s H.3 Statistical Release.4 Vault cash used to satisfy required reserves was $31.2 billion; reserve balances with Federal Reserve Banks were $8.9 billion. What are 2001 reserve requirements against deposits? Effective December 28, 2000, depository institutions were required to hold a reserve requirement of 3 percent against their first $42.8 million in net transaction accounts (demand and other checkable deposits). They were required to hold a 10 percent reserve against their net transaction accounts above $42.8 million. At present, there is no reserve requirement on time and savings deposits.
