The balance sheet for the newly formed Last National Bank is shown below. The reserves listed on the balance sheet are reserves on deposit at the Federal Reserve. The cash is vault cash held at the bank.
The balance sheet for the newly formed Last National Bank is shown below. The reserves listed on the balance sheet are reserves on deposit at the Federal Reserve. The cash is vault cash held at the bank.
Last National Bank Balance Sheet 1
Cash - $15,000
Reserves - $102,000
Property - $309,000
Checkable deposits - $116,000
Shock Shares - $310,000
Instructions: Enter your answers as whole numbers.
a. Suppose a depositor at the bank writes a check for $26,500 to a contractor to pay for some remodeling work done on her home. The contractor deposits the check in his bank (which is a different bank). What will Last National Bank's balance sheet look like after the check clears? Record the values in the table below.
Last National Bank Balance Sheet 2
Cash - ?
Reserves - ?
Property - ?
Checkable deposits - ?
Shock Shares - ?
b. If the reserve requirement is 25 percent, what is the total amount of excess reserves held by Last National Bank after the check clears?
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The balance sheet for the newly formed Last National Bank is shown below. The reserves listed on the balance sheet are reserves on deposit at the Federal Reserve. The cash is vault cash held at the bank.
The balance sheet for the newly formed Last National Bank is shown below. The reserves listed...
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the Federal Reserve. The cash is the vault cash held in
the bank.
1a)
1b) If the reserve requirement is 10% percent, how much in
excess reserves is the bank holding?_______
Suppose that Goldstar Bank is completely "loaned up." Now
suppose that a customer deposits an additional $40,000 into the
bank. Assume the reserve requirement is...
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