>...holding a fraction of deposited money as reserves... US banks haven't had re... | Hacker News

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dsjegkl on Oct 19, 2021 | parent | context | favorite | on: $1M bounty for details on Tether’s backing

>...holding a fraction of deposited money as reserves...

US banks haven't had reserve requirements since March 2020.

https://www.federalreserve.gov/monetarypolicy/reservereq.htm

jfrunyon on Oct 19, 2021 [–]

And yet their assets:liabilities ratio is still approximately "#DIV/0!" times that of Tether.

dsjegkl on Oct 20, 2021 | [–]

I highly doubt Tether has embezzled 100% of their assets.

jfrunyon on Oct 20, 2021 | | [–]

I highly doubt you know what "approximately" means.

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