Fed: Major U.S. banks see $700 billion in reserves as 'comfortable'

WASHINGTON (Reuters) - Major U.S. banks as of January said they wanted to hold at least $700 billion in reserves, versus their existing holdings of $1.2 trillion at that point, the Federal Reserve said Thursday

Reuters May 24, 2019 00:06:17 IST
Fed: Major U.S. banks see $700 billion in reserves as 'comfortable'

Fed Major US banks see 700 billion in reserves as comfortable

WASHINGTON (Reuters) - Major U.S. banks as of January said they wanted to hold at least $700 billion in reserves, versus their existing holdings of $1.2 trillion at that point, the Federal Reserve said Thursday.

The Fed's latest survey of senior finance officers at 75 banks, representing about three-fourths of reserve holdings, showed the central bank might still be able to shave perhaps half a trillion dollars from its balance sheet and still meet bank reserve demand.

(Reporting by Howard Schneider; Editing by Andrea Ricci)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

Pulitzer Prize-winning photojournalist Danish Siddiqui killed in Afghanistan: Politicans, journalists pay tributes
India

Pulitzer Prize-winning photojournalist Danish Siddiqui killed in Afghanistan: Politicans, journalists pay tributes

The Pulitzer prize winner, who was in Kandahar covering operations against Taliban, was killed when he was riding along with the Afghan Special Forces

Indian photojournalist Danish Siddiqui killed during assignment in Afghanistan's Kandahar province
India

Indian photojournalist Danish Siddiqui killed during assignment in Afghanistan's Kandahar province

Siddiqui had also covered the 2020 Delhi riots, COVID-19 pandemic, Nepal earthquake in 2015 and the protests in Hong Kong

Danish Siddiqui's passing is a reminder of the high price one pays for showing the truth
India

Danish Siddiqui's passing is a reminder of the high price one pays for showing the truth

Danish's photographs were not just documentation, but the work of someone who went down to eye-level, as they say in photographic parlance.