Excess Reserves in Japan

The dark blue line (flat, near the 50000 level, with a step up in 2007) shows "Required Reserves (Average Outstanding).

The jiggy green line shows "Reserves/Outstanding at End of Period".

The light blue line (which tracks the jiggy green line) shows "Reserves/Average Outstanding".

The graph is from the Bank of Japan site; I started data selection here. Makes you appreciate FRED even more.

Dunno how the excess shown here compares to the excess at the Federal Reserve. But you can see that the excess evaporated quickly at one point. Probably why Bernanke is not too worried about excess reserves.