Net Free or Borrowed Reserves of Depository Institutions (Graph)

Definition: changes to excess reserves minus discount window borrowings plus secondary borrowings.

Net Free or Borrowed Reserves Exploding Again (Graph)

From 2003-01-01 till 2007-11-01, the observations reflect excess reserves minus total borrowings plus secondary borrowings. From 2007-12-01, the definition changes to excess reserves minus discount window borrowings plus secondary borrowings. Please, check the latest definition of the discount window borrowings at http://research.stlouisfed.org/fred2/series/DISCBORR.

This explains the attempt to pump up the volume and create profits at banks. Is starting back up and is having an explosive effect.

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