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REQUIRED RESERVES: The amount of vault cash and/or Federal Reserve deposits that a bank must legally keep to back outstanding deposits. These are the assets that bank regulators specify a bank must have to ensure the stability of deposits and conduct daily transactions.
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VAULT CASH Paper bills and metal coins kept in bank vaults or elsewhere in banks (such as teller drawers). Vault cash is used, quite literally, to "cash" checks and otherwise to satisfy currency withdrawal demands of the depositors. Because vault cash is in the possession of banks and not the nonbank public, it is not considered as "money in circulation" and is not part of the official M1 money supply. Vault cash is one of two types of bank assets that are considered reserves and used to satisfy reserve requirements. The other is Federal Reserve deposits.
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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time wandering around the shopping mall trying to buy either storage boxes for your income tax returns or an AC adapter for your CD player. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"The marvelous thing about human beings is that we are perpetually reaching for the stars. The more we have, the more we want. And for this reason, we never have it all. " -- Joyce Brothers, psychologist
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