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US banks hoard $3tn reserves as Fed cuts rates

Source: ft.com

US banks sitting on $3tn in Fed reserves despite rate cuts sparking investment boom elsewhere.
Regulators' post-SVB rules force banks to hold $1tn extra safe assets, crimping lending.
Fed's balance sheet still $6.8tn, delaying full normalisation amid political pressure.

The article examines why US banks are parking massive cash piles at the Federal Reserve even as interest rates fall, instead of lending or investing more aggressively. This hoard stems from stricter regulations after 2023 bank failures and lingering caution. It matters because it slows economic stimulus and keeps the Fed's balance sheet bloated.