Banks Warn Fed They May Have To Start Charging Depositors | Zero Hedge:"As the FT reports leading US banks have warned the Fed that should it lower IOER, they would be forced to start charging depositors."
"IOER"-Excess reserves - Wikipedia, the free Encyclopediaen.wikipedia.org/wiki/Excess_reserves
... the Emergency Economic Stabilization Act of 2008 allowed the Fed to begin paying interest on excess reserve balances ("IOER") as well as required reserves.
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