Utilization of Federal Reserve Bank Services by Member Banks: Implications for the Costs and Benefits of Membership
The proportion of commercial banks belonging to the Federal Reserve System has been declining for more than three decades. The percentage of banks in the Federal Reserve System decreased from 49.1 percent of all commercial banks in 1945 to 39.3 percent at the end of 1976. The percentage of total bank deposits held at Federal Reserve member banks declined from 86.3 percent to 73.8 percent over the same period.
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