Bank XYZ Balance Sheet Total reserves ASSETS Required reserves Excess reserves $3,800,000 $800,000 $3,000,000 $200,000 Loans The required reserve ratio is 0.20. If the Federal Reserve buys $1,000,000 worth of bonds from a bond dealer who has her account at Bank XYZ above and she deposits the entire $1,000,000 into a checking account at Bank XYZ, what will be the new required and exces reserves for this bank (assume no new loans are made)? (Remember that required reserves are found by applying the required reserve ratio to the amount of total checkable deposits.) Total checkable deposits at Bank XYZ grow by S because of this deposit from the broker. Total reserves Required reserves $ Excess reserves S Loans Bank XYZ is now required to hold an additional S ▾ as required reserves due to this $1,000,000 deposit into a checking account and can now lend an additional S Fill in the blanks in the table below to complete the T-account of Bank XYZ from the new $1,000,000 deposit in to a checking account. ASSETS LIABILITIES Checkable deposits $4,000,000 S $200,000 LIABILITIES Checkable deposits $ due to this $1,000,000 deposit into a checking account.

Bank XYZ Balance Sheet Total reserves ASSETS Required reserves Excess reserves $3,800,000 $800,000 $3,000,000 $200,000 Loans The required reserve ratio is 0.20. If the Federal Reserve buys $1,000,000 worth of bonds from a bond dealer who has her account at Bank XYZ above and she deposits the entire $1,000,000 into a checking account at Bank XYZ, what will be the new required and exces reserves for this bank (assume no new loans are made)? (Remember that required reserves are found by applying the required reserve ratio to the amount of total checkable deposits.) Total checkable deposits at Bank XYZ grow by S because of this deposit from the broker. Total reserves Required reserves $ Excess reserves S Loans Bank XYZ is now required to hold an additional S ▾ as required reserves due to this $1,000,000 deposit into a checking account and can now lend an additional S Fill in the blanks in the table below to complete the T-account of Bank XYZ from the new $1,000,000 deposit in to a checking account. ASSETS LIABILITIES Checkable deposits $4,000,000 S $200,000 LIABILITIES Checkable deposits $ due to this $1,000,000 deposit into a checking account.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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