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The following net transaction accounts have been documented by a bank for the computation of its reserve requirements in millions The average daily reserves at the Fed for the 14day reserve

The following net transaction accounts have been documented by a bank for the computation of its reserve requirements (in millions). The average daily reserves at the Fed for the 14-day reserve maintenance period have been $26.5 million per day, and the average vault cash for the computation period has been estimated to be $1 million per day. What is the amount of the average daily required reserves to be held by the bank during the maintenance period? (Do not round intermediate calculations. Enter your answer in millions rounded to 3 decimal places, (e.g., 32.161)) Average daily required reserves $ ________ million

 

Apr 05 2020 Read more Less More

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