On the liability side, there are also two major figures: Demand deposits held by the commercial Banks, which constitute the reserves of those Banks; and Federal reserve Notes, cash emitted by the Fed.

在美联储资产负债表的负债表一栏里有两个主要组成部分：商业银行持有的活期存款，也即它们的准备金；和联邦储备券，即由美联储发行的现金。

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On the liability side of the Fed's ledger, excess reserves that pay close to zero interest have expanded by about $1 trillion.

在美联储资产负债表的负债部分，零利率的超额准备金增加了大约1万亿。

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The purchaser reserves the right to accept or reject any bid without thereby incurring any liability to the affected bidders.

买方保留接受或拒绝任何投标，对受影响的投标人不承担任何责任。

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Bank reserves are a liability of the Fed and an asset for the banks.

FORBES: The Myth That The Fed Is Printing Money

Merck says it cannot yet reasonably estimate the amount of the Vioxx liability in order to take reserves.

FORBES: Vioxx Anxiety Rises

The difference is that the 1979 move targeted money and, by implication, bank reserves, on the liability side of the Fed's balance sheet.

FORBES: The Fed's Historic Move