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WASHINGTON — The Federal Reserve Board announced last Wednesday the annual indexing of the reserve requirement exemption amounts for 2007.

Credit unions and other depository institutions must hold a percentage of certain types of deposits as reserves in the form of vault cash, as a deposit in a Federal Reserve Bank, or as a deposit in a pass-through account at a correspondent institution. Reserve requirements currently are assessed on the depository institution’s net transaction accounts, namely checking.

 

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