FRB: Press Release--Board announces that it will begin to pay interest on depository institutions required and excess reserve balances--October 6, 2008

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equilibrista “Paying interest on excess balances should help to establish a lower bound on the federal funds rate.”

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FRB: Press Release--Board announces that it will begin to pay interest on depository institutions required and excess reserve balances--October 6, 2008

Release Date: October 6, 2008 For release at 8:15 a.m. EDT The Federal Reserve Board on Monday an... Release Date: October 6, 2008 For release at 8:15 a.m. EDT The Federal Reserve Board on Monday announced that it will begin to pay interest on depository institutions' required and excess reserve balances. The payment of interest on excess reserve balances will give the Federal Reserve greater scope to use its lending programs to address conditions in credit markets while also maintaining the fede