2. The balance sheet of a bank follows. Suppose that the reserve requirement is 3 percent on the first $30 million of checkable deposits and 10 percent on checkable deposits in excess of $30 million. (Amounts on the balance sheet are in millions of dollars.)

Assets Liabilities + Capital Reserves $15.9 Transactions $180.0 deposits Loans $150.0 Equity $ 20.0 capital Securities $34.1 Total $200.0 Total $200.0