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https://www.cnbc.com/2024/05/01/why-hundreds-of-us-banks-may-be-at-risk-of-failure.html

“The Federal Reserve Board reduced reserve requirements to zero percent on March 26, 2020, which eliminated reserve requirements for all depository institutions. This means that banks in the United States are no longer required to hold any depositor money in the bank. Instead, banks are paid a specific interest rate on their reserve balance to encourage holding reserves.”