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Renessant Bank has $14.53 billion in deposits. The Federal Reserve changes the reserve requirement from 11% to 14.2%. If Renessant lends out 100% of
Renessant Bank has $14.53 billion in deposits. The Federal Reserve changes the reserve requirement from 11% to 14.2%. If Renessant lends out 100% of its excess reserves, and borrowers redeposit 72% of funds borrowed, what will Renessant's deposits be after the change? Note: Answer in billions of dollars, round to the nearest two decimal places.
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