Wednesday Scramble
Categories: Banking
A way your church raises money; an event sandwiched between the Tuesday Pancake Stacker and French Toast Thursday.
Also, the term stands as the nickname for a flurry of activity banks sometimes go through to make reserve requirements.
The main banking regulator in the U.S. is the Federal Reserve. It sets reserve limits that banks have to follow...amounts of cash that banks have to have on hand in case a depositor wants to withdraw.
These requirements get measured in 14-day windows, starting on a Thursday and ending on a Wednesday two weeks later. If a bank finds itself out of compliance going into the end of the time period, managers might have to run around a bit to secure the cash. Hence, the Wednesday Scramble.