Final answer:
ATM withdrawal limits are set by individual banks and can vary, not directly influenced by the Federal Reserve's reserve requirement changes. For current limits, one should check with their specific bank.
Step-by-step explanation:
The limits on ATM withdrawal are not set by the Federal Reserve's reserve requirements but by individual banking institutions and can vary widely based on the bank's policies and the type of account a customer has. During the COVID-19 pandemic, the Federal Reserve made monetary policy adjustments by reducing reserve requirements for banks to zero percent as of March 2020, allowing banks to have more flexibility in managing their reserves. However, this action itself does not directly dictate ATM withdrawal limits.
Instead of being bound by reserve requirements, banks consider various factors to set ATM withdrawal limits, such as preventing fraud, managing liquidity, and ensuring the availability of cash for all customers. These limits can change and so for the most accurate and current information on ATM withdrawal limits, you should check with your specific bank or financial institution.