The Federal Reserve pays a higher rate on required and excess reserves versus the fed funds rate. Why would a bank ever loan money at the fed funds rate? - Quora
![IOER – does the latest fed move have any practical implications for cash investors? | J.P. Morgan Asset Management IOER – does the latest fed move have any practical implications for cash investors? | J.P. Morgan Asset Management](https://cdn.jpmorganfunds.com/content/dam/jpm-am-aem/global/en/institutional/images/insights/fixed-income-perspectives/IOER%20%E2%80%93%20Does%20the%20latest%20Fed%20move%20have%20any%20practical%20implications%20for%20cash%20investors_Chart2_2019_553x361.png)
IOER – does the latest fed move have any practical implications for cash investors? | J.P. Morgan Asset Management
![IOER – does the latest fed move have any practical implications for cash investors? | J.P. Morgan Asset Management IOER – does the latest fed move have any practical implications for cash investors? | J.P. Morgan Asset Management](https://cdn.jpmorganfunds.com/content/dam/jpm-am-aem/global/en/institutional/images/insights/fixed-income-perspectives/IOER%20%E2%80%93%20Does%20the%20latest%20Fed%20move%20have%20any%20practical%20implications%20for%20cash%20investors_Chart1_2019_553x361.png)