http://en.wikipedia.org/wiki/Federal_Reserve_System#cite_note-91
As of October 2008, the Federal Reserve banks will pay interest on reserve balances (required & excess) held by depository institutions. The rate is set at the lowest federal funds rate during the reserve maintenance period of an institution, less 75bp.As of October 23, 2008, the Fed has lowered the spread to a mere 35 bp.
As of October 2008, the Federal Reserve banks will pay interest on reserve balances (required & excess) held by depository institutions. The rate is set at the lowest federal funds rate during the reserve maintenance period of an institution, less 75bp.As of October 23, 2008, the Fed has lowered the spread to a mere 35 bp.
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