Despite the opening statement of the Federal Bank Chairman Stoppers, where the Chairman states the mission of the Bank has always been financial integrity, the report includes an interesting statistic.

According to the report released on February 11th, 2025, on December 31st, 2024 the cash reserves consisted of 22 million; By the end of January 2025 the reserves consisted of 6 million. That is a loss of around 16 million Redmont Dollars in cash.

Meanwhile, the Federal Reserve is also currently understaffed; the Chairman is running the operations alone and thus some duties have to be postponed or scaled back. Inside the report it cites that decisive steps are being taken to combat the situation and a massive hiring wave is to be expected.

“One of our top priorities is to launch a massive hiring initiative to bring in competent and passionate individuals who are eager to contribute to the world of economics and fiscal management and regulatory compliance.” – Stoppers (Federal Reserve Bank Governor)

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As for the sudden decrease of cash reserves, The Reveille Times reached out to Reserve Bank Governor Stoppers for a few questions.

Jorinton: According to the Federal Bank of Redmont report the government held 22 million in cash by the end of December, whereas now the sum is 6 million. How come the government lost this money so quickly and what was it spent on?

Stoppers: “Our cash reserves decreased due to the financial institutions that trade with us withdrawing their balances from the FRB’s equity trading division. Additionally, a few million in echo securities were sold and withdrawn and we did sustain some losses in echo securities to financial institutions.”

Jorinton: Could you elaborate on these financial institutions withdrawing their balances and what it means for the Commonwealth?

Stoppers: “Financial institutions keep cash with the equity trading division so they can easily buy stocks without having to do a bank or ingame transfer everytime. It’s a voluntary thing. These balances are non-interest bearing by the way.”

Jorinton: Senator Goldendude15 (WPR) has motioned to call for a hearing of your person as the Chairman of the Federal Bank of Redmont before Congress. What do you think about that and will you comply?

Stoppers: “I’m happy to comply. I did a hearing last month. So if this becomes a monthly thing, then sure. I always aim to be as transparent as possible so long as it doesn’t jeopardize the financial industry.”

While Stoppers answered each question, his answers were vague. He did not clarify how much of the $16 million loss came from each factor (specific withdrawals and losses from echo securities), why the withdrawals happened so suddenly, or whether any steps could have been taken to prevent this. He also did not comment on what this could mean to the citizens of Redmont in the second question.

We thank the Chairman for answering our questions. The Reveille Times will report on the situation as it develops.