tyb
they put that on steroids after 2008 crash. The excess reserves is the "money" the bank's put back into the FRB with the repo process-essentially they "buy" treasury note's and then "sell" them to the Fed, they have to leave a smallish amount on deposit with the FRB, hence the term excess reserves. It's total bullshit. Here is where it starts:
https://www.newyorkfed.org/markets/primarydealers
Very comfy. Been a long ride, got to take time for the important things or you start talking to yourself-no one want's that.
kek