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13. If over the first 12 days of the current reserve maintenance period the average daily reserves held by the bank in problem (12) were
13. If over the first 12 days of the current reserve maintenance period the average daily reserves held by the bank in problem (12) were $56 million (or 12 $56 m = $672 m cumulative total over the 12 days), what does the bank need to hold as reserves over the last two days to (1) exactly meet the reserve requirement, (2) meet the minimum reserve, and (3) meet the maximum reserve?
Saunders, Anthony. Financial Institutions Management: A Risk Management Approach (p. 574). McGraw-Hill Higher Education. Kindle Edition.
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