a. Under the rules effective in 2020 , what is the amount of average daily reserves required to be held during the reserve maintenance period for these demand deposit balances? b. What is the average daily balance of reserves held by the bank over the maintenance period? By what amount were the average reserves held higher or lower than the required reserves? c. If the bank had transferred $35 million of its deposits every Friday over the two-week computation period to one of its off-shore facilities, what would be the revised average daily reserve requirement? Complete this question by entering your answers in the tabs below. Under the rules effective in 2020 , what is the amount of average daily reserves required to be held during the reserve maintenance period for these demand deposit balances? (Do not round intermediate calculations. Enter your answer in millions rounded to 3 decimal places. (e.g., 32.161)) Complete this question by entering your answers in the tabs below. If the bank had transferred $35 million of its deposits every Friday over the two-week computation period to one of its offshore facilities, what would be the revised average daily reserve requirement? (Do not round intermediate calculations. Enter your answer in miltions rounded to 3 decimal places. (e.g., 32.161)) Complete this question by entering your answers in the tabs below. What is the average dally balance of reserves held by the bank over the maintenance period? By what amount were the average reserves held higher or lower than the required reserves? (Input the amount as a positive value. Enter your answers In millions rounded to 3 decimal places. ( e.g., 32.161)) City Bank has estimated that its average daily net transaction accounts balance over the recent 14 -day computation period was $225 million. The average daily balance with the Fed over the 14 -day maintenance perlod was $8 million, and the average dally balance of vault cash over the two-week computation period was $5 million. EXAMPLE 13-2 Computation of Dally Average Required Reserves Consider ABC Bank's reserve manager, who wants to assess the bank's minimum cash reserve requirement target. The manager knows the bank's net transaction accounts balance at the close of the banking day on each of the 14 days over the period Toesday, June 30, to Monday, July 13. Consider the realized net transaction account positions of ABC Bank in Table 13-25. The minimum daily werage reserves that a bank mude maintain is computed as a percentage of the dally average net transaction accounts held by the bank over the fwo-woek computation period, where Fridry's balances are carried over for Satuntyy and Sundry. The minimum daily averige for ABC Bank to bold agains the daily average of $1,350,70 million in net tranuction accounts is calculated as follows (amounts in millions): Daily averaee net transaction accounts x Reserve percentage = Daily average reserves required a. Under the rules effective in 2020 , what is the amount of average daily reserves required to be held during the reserve maintenance period for these demand deposit balances? b. What is the average daily baiance of reserves held by the bank over the maintenance period? By what amount were the average reserves held higher or lower than the required reserves? c. If the bank had transferred $35 million of its deposits every Friday over the two-week computation period to one of its off-shore facilites, what would be the revised average daily reserve requirement
