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

 Fed: Major U.S. banks see 0 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.

Your guide to the latest cricket World Cup stories, analysis, reports, opinions, live updates and scores on https://www.firstpost.com/firstcricket/series/icc-cricket-world-cup-2019.html. Follow us on Twitter and Instagram or like our Facebook page for updates throughout the ongoing event in England and Wales.

Updated Date: May 24, 2019 00:06:17 IST