The reserve ratio for banks was reduced to 0% on March 15, 2020.

by Settlemente

Here is the link to the announcement of the reserve ratio for banks being reduced to 0%.

https://www.federalreserve.gov/monetarypolicy/reservereq.htm#:~:text=As%20announced%20on%20March%2015,requirements%20for%20all%20depository%20institutions.

The FDIC insures up to $250,000 worth of deposits (per person, per bank). The Dodd Frank act included requirements for banks to write living wills.