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Liquidity management. Consider a bank called Anteater National Bank. The bank has the following assets: $100 million in loans - $9 million in securities $11 million in reserves and the following liabilities: $100 million in deposits $14 mlion in borrowed funds Use this information to answer the following questions (a) (2 points) If the reserve requirement is set at 5%, what is the quantity of excess reserves that Anteater National is holding? (b) (4 points) Suppose that depositors of Anteater National withdraw $10 million of de- posits from the bank. Prepare the new balance sheet for Anteater National immediately following the withdrawal and before the bank has undertaken any measures to replenish ts reserves (c) (3 points) What amount of additional reserves does Anteater National need to acquire in order to meet its 5% reserve requirement? Answer: (a) $6 mil (b) The balance sheet for Anteater National: Assets Liabilities Reserves $1 mi. $90 mil Deposits $100 mil. $14 mil Loans Borrowings Securities $9 mi. S6 mil. Capital (c) 83.5 mil