Re:Follow the money: Apple vs. the FBI
by haberman on Monday March 28, 2016 @12:47PM
(#11375396)
This is the second time I've seen this link come up recently. It is describing the banking system in the UK, which has no reserve requirement. The US, on the other hand, does: https://www.federalreserve.gov/monetarypolicy/reservereq.htm
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That can easily be bypassed by usage of the discount window.
Your own link says this at the bottom of the introduction:
> In recent years, the discount rate has been approximately a percentage point above the federal funds rate (see Lombard credit). Because of this, it is a relatively unimportant factor in the control of the money supply and is only taken advantage of at large volume during emergencies.
And in recent years the economy in general have been on life support. No lending, no need for the discount window to line up the numbers.
Re:Follow the money: Apple vs. the FBI
by forgetsusername on Monday March 28, 2016 @01:42PM
(#11375844)
>which has no reserve requirement
The banks are not reserve constrained, so the reserve requirement is nigh irrelevant.