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Category > Accounting Posted 25 May 2017 My Price 5.00

Suppose that National Bank of Guerneville has $34 million in checkable deposits

Suppose that National Bank of Guerneville has $34 million in checkable deposits, Commonwealth Bank has $47 million in checkable deposits, and the required reserve ratio for checkable deposits is 10%. If National Bank of Guerneville has $4 million in reserves and Commonwealth has $5 million in reserves, how much in excess reserves does each bank have? Now suppose that a customer of National Bank of Guerneville writes a check for $1 million to a real estate broker who deposits the check at Commonwealth. After the check clears, how much in excess reserves does each bank have?

 

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Alpha Geek
(8)
Status NEW Posted 25 May 2017 12:05 PM My Price 5.00

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file 1495714856-Answer.docx preview (165 words )
S-----------upp-----------ose----------- th-----------at -----------Nat-----------ion-----------al -----------Ban-----------k o-----------f G-----------uer-----------nev-----------ill-----------e h-----------as -----------$34----------- mi-----------lli-----------on -----------in -----------che-----------cka-----------ble----------- de-----------pos-----------its-----------, C-----------omm-----------onw-----------eal-----------th -----------Ban-----------k h-----------as -----------$47----------- mi-----------lli-----------on -----------in -----------che-----------cka-----------ble----------- de-----------pos-----------its-----------, a-----------nd -----------the----------- re-----------qui-----------red----------- re-----------ser-----------ve -----------rat-----------io -----------for----------- ch-----------eck-----------abl-----------e d-----------epo-----------sit-----------s i-----------s 1-----------0%.----------- If----------- Na-----------tio-----------nal----------- Ba-----------nk -----------of -----------Gue-----------rne-----------vil-----------le -----------has----------- $4----------- mi-----------lli-----------on -----------in -----------res-----------erv-----------es -----------and----------- Co-----------mmo-----------nwe-----------alt-----------h h-----------as -----------$5 -----------mil-----------lio-----------n i-----------n r-----------ese-----------rve-----------s, -----------how----------- mu-----------ch -----------in -----------exc-----------ess----------- re-----------ser-----------ves----------- do-----------es -----------eac-----------h b-----------ank----------- ha-----------ve?----------- No-----------w s-----------upp-----------ose----------- th-----------at -----------a c-----------ust-----------ome-----------r o-----------f N-----------ati-----------ona-----------l B-----------ank----------- of----------- Gu-----------ern-----------evi-----------lle----------- wr-----------ite-----------s a----------- ch-----------eck-----------
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