<Table> Reserve Requirements in the U.S. Federal Reserve System <Tr> <Td> Liability Type </Td> <Td_colspan="2"> Requirement </Td> </Tr> <Tr> <Td> Percentage of liabilities </Td> <Td> Effective date </Td> </Tr> <Tr> <Td_colspan="3"> Net transaction accounts </Td> </Tr> <Tr> <Td> $0 to $11.5 million </Td> <Td> 0 </Td> <Td> December 29, 2011 </Td> </Tr> <Tr> <Td> More than $11.5 million to $71 million </Td> <Td> </Td> <Td> December 29, 2011 </Td> </Tr> <Tr> <Td> More than $71 million </Td> <Td> 10 </Td> <Td> December 29, 2011 </Td> </Tr> <Tr> <Td_colspan="3"> </Td> </Tr> <Tr> <Td> Nonpersonal time deposits </Td> <Td> 0 </Td> <Td> December 27, 1990 </Td> </Tr> <Tr> <Td_colspan="3"> </Td> </Tr> <Tr> <Td> Eurocurrency liabilities </Td> <Td> 0 </Td> <Td> December 27, 1990 </Td> </Tr> </Table> <Tr> <Td> Liability Type </Td> <Td_colspan="2"> Requirement </Td> </Tr> <Tr> <Td> Percentage of liabilities </Td> <Td> Effective date </Td> </Tr> <Tr> <Td_colspan="3"> Net transaction accounts </Td> </Tr>

When the fed directs primary dealers to purchase treasury securities the fed