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In aggregate all US banks have $19.77 trillion dollars in deposits. The Federal Reserve changes the reserve requirement from 9% to 6.0%. If, on average,
In aggregate all US banks have $19.77 trillion dollars in deposits. The Federal Reserve changes the reserve requirement from 9% to 6.0%. If, on average, banks lend out 72% of their excess reserves, and borrowers redeposit 62% of funds borrowed, what will aggreate US bank deposits be after the change? Note: Answer in trillions of dollars, round t nearest two decimal places.
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