Assume the required reserve ratio is 10 percent and that reserves listed below include required reserves and excess reserves (if there are any) in one account. Numbers are in billions.

AssetsLiabilities and Net worth

Reserves $ 30Checkable Deposits $300

Securities $70Capital Stock$130

Loans$130

Property$200

Refer to the above data. The commercial banking system has excess reserves of:

A) $0 billion.

B) $30 billion.

C) $60 billion.

D) $70 billion.