Indeed, almost all the reserves added in the second and third rounds of QE, more than 95%, are sitting in excess reserves, neither lent nor borrowed and never used to increase money in circulation. The Fed pays the banks 0.25% to keep them idle.
事实上，几乎所有在第二轮和第三轮QE期间增加的准备金（超过95%）以超额准备金的形式存在着，既没有借贷，也没有用于增加流通中货币。美联储为了这些闲置资金向银行支付0.25%的利息。