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only 7 and 9 7 Explain the major options available to a bank that is short of reserves. What determines which option a bank is

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7 Explain the major options available to a bank that is short of reserves. What determines which option a bank is likely to choose? 8 What is the spread, and why is it such an impor- tant concept for banks? 9 Why did banks desire to hold many excess re- serves in late 2008 during the financial crisis

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