2. In the lecture video The Business of Banking 4, the professor detailed the cash items into "Primary reserves" and "Secondary reserves". a) Are they liquid assets or not? What is the difference between them? b) There are the following items in Primary reserves" (you can also refer Cash Items on page 256) Vault cash Required reserves Excess reserves Deposits at other banks (correspondent banking relationship). Cash/check items in the process of collection. Among all of them, which item is the only one could be managed by a bank? Whether a bank would like to hold this item or not and why? c) List four examples of Secondary reserves" and explain what a repurchase agreement is? 2. In the lecture video The Business of Banking 4, the professor detailed the cash items into "Primary reserves" and "Secondary reserves". a) Are they liquid assets or not? What is the difference between them? b) There are the following items in Primary reserves" (you can also refer Cash Items on page 256) Vault cash Required reserves Excess reserves Deposits at other banks (correspondent banking relationship). Cash/check items in the process of collection. Among all of them, which item is the only one could be managed by a bank? Whether a bank would like to hold this item or not and why? c) List four examples of Secondary reserves" and explain what a repurchase agreement is