1. Use T-accounts to show the initial effect of the following changes on the balance sheets of the Federal Reserve and BB&T, a private commercial bank. Here, I want you to ignore the secondary effects that the following actions have on the entire banking system via multiple deposit expansion a. The Fed purchases $2 million worth of Treasury securities from BB&T in the open market. BB&T Assets Liabilities Federal Reserve Assets Liabilities b. The Fed extends a discount loan to BB&T in the amount of $2 million. BB&T Assets Liabilities Federal Reserve Assets Liabilities C. The Fed extends a discount loan to BB&T in the amount of $2 million. Meanwhile, depositors at BB&T withdraw $1 million of deposits to hold in the form of currency. Assume that BB&T does not hold any vault cash, so all of its reserves are held in the form of reserve balances at the Fed. BB&T Assets Liabilities Federal Reserve Assets Liabilities