Question
NewBank started its first day of operations with $113 million in capital. A total of $100 million in checkable deposits is received. The bank makes
NewBank started its first day of operations with $113 million in capital. A total of $100 million in checkable deposits is received. The bank makes a $29 million commercial loan and another $27 million in mortgage loans. The required reserve ratio is 5.4%. (Note: Information is based on NewBank's first month ofoperations.)
Complete NewBank's balance sheet shown below: (Round your responses to the nearest whole number.)
Assets | Liabilities | ||||||
Required reserves | $? | million | Checkable deposits | $? | million | ||
Excess reserves | $? | million | Bank capital | $? | million | ||
Loans | $? | million |
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