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1. A commercial bank A sells bonds it holds on the economy to the BEAC on the open market, for an amount of 250 million.

1. A commercial bank "A" sells bonds it holds on the economy to the BEAC on the "open market", for an amount of 250 million. Subsequently, bank "A" grants a credit to the company CIMENCAM, up to the same amount. Said credit is used by CIMENCAM to buy clinker to the LAFARGE Group whose account is domiciled at bank "B". Subsequently, the LAFARGE group issues a backed letter of credit, for an amount 30% lower than the lending capacity of bank B, for the benefit of its partner DANGOTE, domiciled at bank C. By setting a mandatory reserve rate of 7.6% and assuming that there is no conversion of deposits into notes: Specify, after presenting the evolution by stage, of the balance sheets of the entire banking system described above: - What is the amount of the backed letter of credit issued by LAFARGE for the benefit of third party supplier DANGOTE? - The maximum amount of the loan that Bank C can grant after the letter of credit is drawn up for the benefit of its client DANGOTE.

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