It's actually measured as an average over a two-week period. Unsurprisingly, lending and borrowing activity is highest on the last day of the measurement period.
Generally speaking, banks try to maintain a steady reserve ratio over the whole period, but there's some wiggle room to play it a little loose and just borrow a lot on the last 1 or 2 days of the measurement period.
Source: I used to work at the Fed and studied these patterns.
Generally speaking, banks try to maintain a steady reserve ratio over the whole period, but there's some wiggle room to play it a little loose and just borrow a lot on the last 1 or 2 days of the measurement period.
Source: I used to work at the Fed and studied these patterns.