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Patriot Bank has an average balance of transactions accounts from July 11 to July 24 $975.65 million. Its average balance in its cash account was
Patriot Bank has an average balance of transactions accounts from July 11 to July 24 $975.65 million. Its average balance in its cash account was $25.75 million in that same period. It's also carrying forward a deficit of $1.35 million from the previous reserve period. a. What is Patriot Bank's net reserve requirement for the next reserve maintenance period? b. What is the minimum amount of reserves may Patriot Bank maintain in the next reserve period? c. What is the maximum amount of reserves may Patriot Bank maintain in the next reserve period
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