Assume that the banking system has total reserves of $507 billion. Assume also that required reserves are 39 percent and that banks do not hold any excess reserves and households hold no currency. Now suppose that the Fed increased the required reserves to 46.8 . What is the level of excess reserves? Make sure to include a negative sign if necessary. Hins incorrect. Assume that the banking system has total reserves of $544 billion. Assume also that required reserves are 34 percent and that banks do not hold any excess reserves and households hold no currency. Now suppose that the Fed decreases the required reserves to 27.2 . What is the level of excess reserves? Make sure to include a negative sign if necessary. Hint Incorrect