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QUESTION
rves? Required reserves? Excess reserves? What role does each play in monetary policy? Which do you believe is most important to monetary policy? Why?...
What are legal reserves? Required reserves? Excess reserves? What role does each play in monetary policy? Which do you believe is most important to monetary policy? Why?
Ans.The reserves that are to be kept to fulfill the requirements of any legislation are called legalreserves. Many financial institutions like banks, insurance companies, credit societies, etc....