XML 25 R12.htm IDEA: XBRL DOCUMENT v3.24.0.1
Restriction on Cash and Due From Banks
12 Months Ended
Dec. 31, 2023
Restriction on Cash and Due From Banks  
Restriction on Cash and Due From Banks

Note 2: Restriction on Cash and Due From Banks

On March 26, 2020, the Federal Reserve reduced all banks’ reserve requirements to 0%. The effective reserve requirement has remained at 0% as of December 31, 2023 and 2022.

Included in cash equivalents is an account restricted as collateral for the potential risk of loss on senior credit linked notes issued by the Company in March 2023. As of December 31, 2023, there was $36.4 million in restricted cash. Also see Note 14: Borrowings.