Which isn't that crazy when bank reserves are at record highs, and was at relative highs when the rule was put into place. https://fred.stlouisfed.org/series/T

Which isn't that crazy when bank reserves are at record highs, and was at relative highs when the rule was put into place. https://fred.stlouisfed.org/series/TOTRESNS https://fred.stlouisfed.org/series/TOTRESNS Banks did not want to lend out money and lowering the reserve percentage is one of the few tools they have to try to encourage banks making loans. It just so happens that it didn't do cause an uptick in loans