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are specified in law as maximum employment,
stable prices, and moderate
long-term interest rates.
| Components of the Federal Reserves Market | |
| § Required reserves (percentage of transaction deposits; amount influenced by reserve requirements) § Vault cash (retained on bank premises) § Required reserve balances (held at Federal Reserve Bank) § Excess reserves (held at Reserve Banks to provide additional protection against deficiencies and overdrafts) | § Borrowed reserves (provided by the Federal Reserve through discount window lending) § Non-borrowed reserves (influenced by the Federal Reserve’s purchase or sale of securities in open market operations) |
 
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The students are also asked to comment on the components of the reserve market and to compare them with the ones of the reserve market of Ukraine.
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| Monetary policy and the reserves market | | | Supply of Reserves |