Marv: > But how much did interest did the Fed actually credit to reserves over the > past year? I wasn't able to find the dollar amount anywhere.
It is easy to calculate, right? For this, the day counting convention is actual/360, as far as I know. So a week is 7/360=0.019, roughly, although its is actually 0.01944444.... Now, 600,000,000,000*0.0025*0.0194444...=29,166,666.666... in a week. In other words, 29 million, roughly. Not bad in a week, don't you think? If you borrowed the funds at half of .25%, you make more than 14 millions in a week. How many weeks are there in a year? Best, Sabri _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
