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lagged reserve requirement


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(LRR)

A requirement of the US Federal Reserve Banks from the 1960s to the mid-1980s in which local banks had to leave with them deposits reflecting the local banks' own deposits two weeks earlier. This was a crude method of monetary control, which has now been superseded by the system of contemporaneous reserves (excluding time deposits, which are still subject to the two-week lag).

Subjects: Financial Institutions and Services.


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