Federal Reserve $A $B Commercial banks Treasury bills $C Reserves $D No change Macmillan Learning Suppose that the Federal Reserve decides to decrease the money supply with a $300 sale of Treasury bills. Complete the tables that represent the financial position of the Federal Reserve and commercial banks after this open-market operation. Be sure to use a negative sign for reduced values. A $ -300 B $ 300 C$ 300 D $ -300 For the Federal Reserve, what are assets? What are liabilities? Reserves are assets and Treasury bills are liabilities