Final answer:
The original limit for ATM withdrawals varied depending on the bank and time period. In early 2015, banks were required to meet reserve requirements set by the Federal Reserve. These requirements have changed over time and as of March 2020, the reserve requirements were reduced to 0%.
Step-by-step explanation:
The original limit for withdrawals from an ATM varied depending on the bank and the time period. In early 2015, the Federal Reserve had certain reserve requirements for banks. Banks were required to hold reserves equal to 10% of any amount above $103.6 million and 3% of the deposits up to $103.6 million. These rates have changed over time and are no longer in effect as of March 2020, when the reserve requirements were reduced to 0% due to the pandemic-induced recession.