Goldman- Excess Reserves Irrelevant and the FED does not need to execute Reverse Repos with Non-Primary Dealers

[Skip to the end] Hopefully, when Goldman talks, people listen: 1. Do excess reserves really matter and does the FED really need to drain them? The short answer is: I don’t think so. The total amount of reserves currently in the banking system is the sum of all Required Reserves (including a certain amount that banks hold for [...]