A Historical Assessment of the Rationales and Functions of Reserve Requirements
20 Pages Posted: 24 Aug 2012
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A Historical Assessment of the Rationales and Functions of Reserve Requirements
FRB Richmond Working Paper No. 83-1
Number of pages: 20
Posted: 24 Aug 2012
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A Historical Assessment of the Rationales and Functions of Reserve Requirements
FRB Richmond Economic Review, Vol. 69, No. 2, March/April 1983, pp. 3-21
Number of pages: 19
Posted: 24 Aug 2012
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37
Date Written: January 1, 1983
Abstract
Laws requiring banks to hold a volume of reserves equal to a prescribed fraction of their deposits originated in this country more than a century ago. Since then both the financial system and the rationales supporting reserve requirements have changed considerably. Nevertheless, the practice of requiring reserves has continued without interruption. This article examines the history and function of reserve requirements at the national level and assesses the validity of various prominent reserve requirement rationales.
Suggested Citation: Suggested Citation
Goodfriend, Marvin and Hargraves, Monica, A Historical Assessment of the Rationales and Functions of Reserve Requirements (January 1, 1983). FRB Richmond Working Paper No. 83-1, Available at SSRN: https://ssrn.com/abstract=2117964 or http://dx.doi.org/10.2139/ssrn.2117964
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