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Draining reserves |
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Draining reserves Federal Reserve System's course of action to tighten the money supply by (1) raising a bank's minimum reserve requirements, (2) selling bonds in the open market, (3) raising the rate at which banks borrow from the Fed, or (4) through draw-downs. |
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| Walking a financial tightrope, officials say they will put off rate hikes for one year and cover a projected $112 million deficit by draining reserves to just $66 million by the end of the budget year. To meet any possible reserve contingencies, procedures were also established for draining reserves late in the day, but this capability was not utilized. |
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