If M = the quantity of money, m the money multiplier, MB the Monetary Base, C = Currency, D = Deposits, R = Reserves, RR = required reserves, and ER = Excess reserves, then RR would equal:

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Required reserves (RR) are the portion of deposits that banks are required to hold as reserves, which can be calculated as RR = R - ER, where R is the total reserves and ER is the excess reserves that banks may choose to hold above the required amount. Therefore, D and C are not relevant in calculating RR, and M/MB is not the correct formula for calculating required reserves. MB is the monetary base which includes currency in circulation and reserves held by banks with the central bank.

If M = the Quantity of Money, M the Money