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demand for reserves

ank lending, demand for reserves, IOER, net interest margin, reverse repos
Banking Regulation, The Fed & Central Banks

IOER and Banks' Demand for Reserves, Yet Again

George Selgin/June 1, 2017June 19, 2022

In our recent American Banker opinion piece, Heritage's Norbert Michel and I argue that, if the Fed is really serious about shrinking its balance sheet, it had better quit paying interest on banks' excess reserves (IOER) as well. How come? Because the current, relatively high IOER rate …

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