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At the end of Stage step one, deposits features grown a maximum of $19,100000 (the original $ten,100000 available with the fresh Government Reserve’s step and also the $9,000 within the dumps developed by Phase step 1 banks). However, merely $900 (ten percent from $9000) out of an excessive amount of reserves were engrossed from the additional deposit progress at the Stage 1 financial institutions. Continue reading