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blsea [12.9K]
2 years ago
13

ngus Bank holds no excess reserves but complies with the reserve requirement. The required reserves ratio is 99​%, and reserves

are currently ​$2727 million. The amount of deposits is ​$300300 million. ​(Round your response to one decimal​ place.) The reserve shortage created by a deposit outflow of ​$55 million is ​$negative 4.55−4.55 million. ​(Round your response to two decimal​ places.) The cost of the reserve shortage if Angus Bank borrows in the federal funds market​ (assume the federal funds rate is 0.250.25​%) is ​$
Business
1 answer:
stira [4]2 years ago
7 0

Answer:

312.5 million

-3.68 million

11040

Explanation:

The amount of deposits is ​ ​$312.5 million

The reserve shortage created by deposit outflow of 4 million is - ​$3.68 million

The cost of the reserve shortage if Angus Bank borrows in the federal funds market is (federal funds rate is 0.3%) is  ​$11040

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