Comment on How Regulations Affect Monetary Control.

The article comments on the article "How Regulations Affect Monetary Control" by James L. Pierce, published in the November 1982 issue of the "Journal of Money, Credit, and Banking." The article describes the reserve requirement structure for members and time deposits and the influence of cash items in process of collection on the measurement of money. The author provides some details of the Monetary Control Act. The article also examines contemporaneous reserve requirements (CRR) which the author says would enforce a resource cost on depository institutions.