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Article: Federal Reserve System requirements, 1959-1988.
- Article from:
- Journal of Money, Credit & Banking
- Article date:
- November 1, 1989
- Author:
CopyrightCOPYRIGHT 1989 Ohio State University Press. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Federal Reserve System Reserve Requirements, 1959-1988
Over the last thirty years, the Federal Reserve System frequently has changed both the range of deposit classifications against which reserves must be held, and the level of reserve requirement ratios. Most recently, with passage of the Monetary Control Act of 1980 (hereafter MCA), the Federal Reserve System was given the authority to levy reserve requirements against the reservable deposits held at all depository institutions that offer transactions deposits. Prior to 1980, the Federal Reserve's jurisdiction was limited to member commercial banks.
These historical changes in reserve requirements have ...