City Bank has estimated that its average daily net transaction accounts balance over the recent 14 -day computation period was $25700 million. The average daily balance with the Fed over the 14 -day maintenance period was $10 million, and the average daily balance of vault cash over the two-week computation period was $6 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 Tuesday. June 30, to Monday, July 13. Consider the realized net transaction account positions of ABC Bank in Table 13-25. The minimum daily average reserves that a bank mept maintain is compoted as a percentage of the daily average net transaction accounts beld by the bank over the two-week computation period, whene Friday's balances are carried over for Saturday and Sunday. The minimum daily average for ABC Bank to hold against the daily average of $1,350.70 million in net transaction accounts is calculated as follows (amounts in miltions); Daily average net tranuction accounts Reverve percentage = Daily average reserves required Q. Under the rules effective in 2020 , what is the amount of average dally 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 $49 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 intemediate calculations. Enter your answer in militions rounded to 3 dedimal places. (e.9,32.161)) $257.00 million. The average daly balance with the Fed over the 14 -day maintenance period was $10 million, and the average daily balance of vaut cash over the two-week computation period was $6 milion. EXAMPLE 13-2 Computation of Dally Average Requlred Reserves Consider ABC Bank's reserve manager, who wants to asses the bank's minimum cash reserve requirement target. The manager knows the bank's net transaction accounts balance at the elose of the banking day on each of the 14 days over the period Tuesday. June 30, to Monday, July 13. Consider the realized net transaction account positions of ABC Bank in Table 13-25. The minimum daily average reserves that a bank mudt maintain is computed as a peroentage of the daily averige net transaction accounts held by the bank over the two-week computation period, where Friday's balanees are carricd over for Saturday and Sunday. The minimum daily avenge for ABC Bank to hold against the daily average of $1.350.70 million in net transaction accounts is calculated as follow (armounts in millions): Daily average net transaction accounts Reserve percentage = Daily werage reserves required 0. Under the rules effective in 2020, what is the amount of average dally reserves reguired to be held during the reserve maintenance period for these demand deposit balances? b. What is the average daily balance of reserves beld by the bank over the maintenance period? By what amount were the average reserves held higher of lower than the required reserves? c. If the bank had transferred $49 million of its deposits every Fnday over the two-week computation period to one of its off-shore facilites, what would be the revised average dally reserve requirement? Complete this question by entering your answers in the tabs below. What is the average daily balance of reserves held by the bank over the maintenance period? By what amount were the average reserves held highor or lower than the required reserves? (Input the amount as a positive value, Enter your answers In miltions rounded to 3 decimal places, (e,9,32,161)) City Bank has estimated that its average daily net transaction accounts balance over the recent 14 -day computation period was $257.00 million. The average daily balance with the Fed over the 14 -day maintenance period was $10 million, and the average daily balance of vault cash over the two-week computation period was $6 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 transuction accounts bal. ance at the close of the banking day on each of the 14 days over the period Tuesday, June 30, to Monday, July 13. Consider the realized net transaction account positions of ABC Bank in Table 13-25. The minimum daily ivenge feserves that a bank mute maintain is computed as a percentage of the daily average net transaction accounts held by the bank over the two-woek computation period, where Fridary's balances are carried over for Safurday and Sunday. The minimum daily average for ABC Bank to hold againt the dxily average of $1,350,70 million in net transaction accounts is calculated as follows (amounts in millions): Daily average net trassaction accounts Rewerv peroentage = Daily averafe reserves required o. 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 dally balance of reserves held by the bank over the maintenance period? By what amount were the average reserves beld higher or lower than the required reserves? c. If the bank had transferred $49 milion 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. If the bank had transferred $49 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? (Do not round intermediate calculations. Enter your answer in your answer in millions rounded to 3 decimal places. (0,9,32.161))