Grant’s Interest Rate Observer: (July 26, 2013) One day soon, banks will have on deposit at the Federal Reserve $2 trillion more than the rules require them to hold, a mountain of excess reserves that could, at the outer limit of what is theoretically possible in money and banking, support $20 trillion of new lending. Now under way is a speculation on the meaning of this imminent fact.

Grant's Interest Rate Observer Free Issue: $20 Trillion in New Lending

Grant’s Interest Rate Observer  free issue here

H/T Value Investing World