Vault cash held by a depository institution does not count as part of the legal reserves of a U.S. depository institution.

Name: Vault cash held by a depository institution does not count as part of the legal reserves of a U.S. depository institution.
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Question

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Vault cash held by a depository institution is indeed counted as part of its legal reserves, as it is part of the cash that the institution has on hand to meet its reserve requirements set by the central bank.

Vault Cash Held by a Depository Institution Does Not Count