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Re:Tether reserves backed by 2.9% cash by jbverschoor on Friday May 14, 2021 @06:38AM (#27152782)
https://www.federalreserve.gov/monetarypolicy/reservereq.htm

"As announced on March 15, 2020, the Board reduced reserve requirement ratios to zero percent effective March 26, 2020. This action eliminated reserve requirements for all depository institutions."

I experienced time very differently the past year. I thought it was two years already. But I'm sure there was another announcement similar to that earlier.

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