All banks must keep some percentage of their checking and savings funds on deposit at the Federal Reserve System.

Name: All banks must keep some percentage of their checking and savings funds on deposit at the Federal Reserve System.
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This is known as the reserve requirement and it helps to ensure the stability of the banking system and the economy. The reserve requirement is set by the Federal Reserve and can vary depending on economic conditions.

All Banks Must Keep Some Percentage of Their Checking and Savings