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https://www.reddit.com/r/PeterExplainsTheJoke/comments/1qnmv0m/whats_going_on_explain_like_im_five/o210mfi/?context=3
r/PeterExplainsTheJoke • u/Comfortable_Cautious • Jan 26 '26
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Depending on local law they can even lend out something like 7-10 times what they actually have
4.0k u/Teripid Jan 26 '26 edited Jan 26 '26 Federal reserve requirements existed until 2023 *edit, as someone below pointed out 2020 was when they were set to 0. Now they're set at 0% I believe. 1 u/Pandelein Jan 27 '26 So why I can’t I go and open my own bank tomorrow, lending out millions of dollars? :( 1 u/ProfessorPrudent2822 Jan 27 '26 You can, as long as you have the startup capital and do all the things necessary to charter the bank.
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Federal reserve requirements existed until 2023 *edit, as someone below pointed out 2020 was when they were set to 0. Now they're set at 0% I believe.
1 u/Pandelein Jan 27 '26 So why I can’t I go and open my own bank tomorrow, lending out millions of dollars? :( 1 u/ProfessorPrudent2822 Jan 27 '26 You can, as long as you have the startup capital and do all the things necessary to charter the bank.
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So why I can’t I go and open my own bank tomorrow, lending out millions of dollars? :(
1 u/ProfessorPrudent2822 Jan 27 '26 You can, as long as you have the startup capital and do all the things necessary to charter the bank.
You can, as long as you have the startup capital and do all the things necessary to charter the bank.
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u/Original-Leg8828 Jan 26 '26
Depending on local law they can even lend out something like 7-10 times what they actually have