US Banks non-borrowed reserves sinks further

I haven't seen anyone mention this, but the Fed published on the 11th of July the "BOGNONBR, Non-Borrowed Reserves of Depository Institutions" and they look even uglier than the previous month. See chart below.



Latest Observations:

Date	2008-02-01	2008-03-01	2008-04-01	2008-05-01	2008-06-01
Value	-17.375	-50.261	-91.876	-111.623	-127.872