On Tuesday, the Federal Reserve Board released the findings of a survey conducted with senior financial officers at banks. This Senior Financial Officer Survey is utilized by the Board to gather information about banks’ strategies and practices for managing reserve balances. It also gathers data on deposit pricing strategies, expectations for changes in balance sheets, and views on Federal Reserve facilities. The survey, conducted in collaboration with the Federal Reserve Bank of New York between May 5-19, 2023, includes responses from banks that held just over 75% of total banking system reserve balances during the survey period.
Read the original Federal Reserve release here.
