H3: Elimination of Reserve Requirements

As announced on March 15, 2020, the Board reduced reserve requirement ratios on net transaction accounts to 0 percent, effective March 26, 2020. This action eliminated reserve requirements for all depository institutions. As a result, many of the items related to reserve requirements and featured in tables 1 and 2 of the Board's Statistical Release H.3, "Aggregate Reserves of Depository Institutions and the Monetary Base," are zero beginning with the two weeks ending April 8, 2020.