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Assets Reserves Other assets Loans Securities X 1301.2 2356.7 Checkable deposits 8272.1 Borrowings Other liabilities. 1008.6 The table shows the consolidated balance sheet of

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Assets Reserves Other assets Loans Securities X 1301.2 2356.7 Checkable deposits 8272.1 Borrowings Other liabilities. 1008.6 The table shows the consolidated balance sheet of all the commercial banks in an economy. Values not listed and items that are left empty are unknown to you. These values may or may not be zero. Assume that the reserve ratio does not change unless specifically stated below, and that the required reserve ratio is 5.29%. If $330 of additional reserve can be used to create up to $1693 of new money, what is X? Add your answer

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