20 sats \ 2 replies \ @nullama 28 Aug 2023 \ on: Defending bitcoin maximalism bitcoin
Reminder that since 2020 banks don't need to have any reserves:
https://www.federalreserve.gov/monetarypolicy/reservereq.htm
As announced on March 15, 2020, the Board reduced reserve requirement ratios to zero percent effective March 26, 2020. This action eliminated reserve requirements for all depository institutions.
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0 sats \ 1 reply \ @TwoLargePizzas 28 Aug 2023
Woah! How did I not know about this.
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0 sats \ 0 replies \ @nullama 28 Aug 2023
It's not something they want everyone to know
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