U.S. BANK RESERVES
New Reduction Authorised
WASHINGTON, March 18. The Federal Reserve Board today again reduced the required reserves of its member banks, releasing a potential 3000 million dollars of new funds for lending The board reduced by 0.5 per eent the reserves which its 6400 banks are required to maintain against their demand deposits.
The action was almost identical with the action taken on February 19. A board spokesman called it an effort to “create credit conditions still more favourable to recovery.”
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Press, Volume XCVII, Issue 28540, 20 March 1958, Page 11
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83U.S. BANK RESERVES Press, Volume XCVII, Issue 28540, 20 March 1958, Page 11
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