Today in the U.S. legal reserves apply only to checkable-type deposits and are gradually being reduced.

Name: Today in the U.S. legal reserves apply only to checkable-type deposits and are gradually being reduced.
Brand: Quizplus
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Quizplus · Accepted Answer

Legal reserves in the U.S. primarily apply to checkable deposits, and over time, regulatory changes have aimed at reducing reserve requirements, with the Federal Reserve reducing the reserve requirement ratios to zero percent effective March 26, 2020.