List and explain the reserve requirements for banks in 2016 for checking accounts and savings accounts.
List and explain the reserve requirements for banks in 2016 for checking accounts and savings accounts.
Homework Answers
Answer - In 2016 the reserve requirement criteria was a bit relaxed. Now , for the transactions account i.e checking and saving account , there will be not reserves for the first $ 15.2 million. This limit was raised from earlier 14.5 million dollar. Hence this was a relaxation. From 15.2 million to $ 110.2 million , a 3 % reserve has to be maintained. This limit was raised from 103.6 million dollar previously. Above 110.2 million dollars , a reserve ratio of 10 % had to be maintained. Thus the reserve ratio in 2016 lied in a lower trench with the relaxations in the slab of the lower percentage of reserves.
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List and explain the reserve requirements for banks in
2016 for checking accounts and savings accounts.
what are savings accounts, checking accounts and certificates of deposit (CDs). What are the requirements for...
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Question No 2: (5+5) If the company has checking accounts in three banks, explain the following:...
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Question No 2: (5+5) If the company has checking accounts in three banks, explain the following: a) Should it maintain a separate ledger account for each? b) Should the company's balance sheet show as three separate items the amount on deposit in the three banks? If the company has checking accounts in three banks, explain the following: a) Should it maintain a separate ledger account for each? b) Should the company's balance sheet show as three separate items the amount...
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