Figure14-4Chartered Banks’ Desired (or Voluntary) Reserve Ratio, August 2003–August 2012 Chartered banks’ desired (or voluntary) reserve ratio fluctuates over time. Before 2008, there was a downward trend in the reserve ratio. However, when the Great Recession of 2008 struck, the chartered banks raised their reserve ratio to protect themselves from bank runs. After the recession, the reserve ratio fell back to pre-