Hidden in the Emergency Economic Stabilization Act of 2008 [Breaking] - MarketTicker Forums:
"The changes eliminated the requirement for banks to keep reserves of cash on hand to cover deposits, they abolished the Federal Reserve’s Earnings Participation Account, they granted the ability for the Fed to create their own rules for distributing their earnings, and they granted the ability to make payments to foreign banks. "
Your bank no longer has to keep your cash on hand.
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