I was trying to find out more about this. The reserve ratio was replaced by an “ample reserves” policy, wherein the Federal Reserve pays an increased interest rate on reserves (a slight discount from the federal funds rate). I wonder how this has played out in reality - do banks have more or less reserves than before this policy change?

Honour system for the financial industry. What could go wrong.

And what do you think the relevance of that is, exactly?

It's just fraud, demand deposits shouldn't be lent out.