Topic # 1 In accordance with its announcement made on March 15, 2020, the Board has reduced reserve requirement ratios to zero percent as of March 26, 2020. Depository institutions were no longer required to maintain reserves following this action.

Please explain what this action is intended to accomplish.

Hint: You may use this linkhttps://www.federalreserve.gov/newsevents/pressreleases/monetary20200315b.htm