If bank policy is to make loans and investments equal to whatever reserves are in excess of legal requirements, the expansion process will be carried on.
如果银行的政策是让贷款和投资等于任何超出法律要求的储备金，那么扩张过程将继续下去。
2
Traditionally, we think of central Banks as pursuing the opposite policy; using its foreign exchange reserves to buy the domestic currency (like the UK's doomed effort in 1992).
传统上，我们认为央行遵循的是反向政策；使用其外汇储备购入或内货币(比如英国在1992年的厄运)。
3
But the effect of such a policy will be to increase their foreign-exchange reserves (as they sell their own currencies and buy dollars or euros).