On March 15, 2020, the Federal Reserve Board of Governors announced that the policy of ‘fractional reserve’ banking would no longer continue as of March 26, 2020 (a day that will live in infamy); as of that date, the reserve requirement would be zero percent for all types of deposits. This will have profound consequences on the financial future of every man, woman, and child in America.
You can read the short, simple, quiet press release here: https://www.federalreserve.gov/newsevents/pressreleases/monetary20200315b.htm
You can monitor the bi-weekly changes in reserve balances here: https://www.federalreserve.gov/releases/h3/20200409/
You can view the FDIC changes in the DIF Reserve Ratio here: https://www.fdic.gov/bank/analytical/qbp/2017mar/p13ch1.html
[*Note the last update was December 2018, and the last data point was March 2017. There must be more recent numbers somewhere…].
You can view the FDIC video assuring people that “your money is safe at the banks” here: https://www.youtube.com/watch?v=jdjzIaEDTnw
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