Suppose that National Bank of Guerneville has

$36

million in checkable deposits, Commonwealth Bank has

$43

million in checkable deposits, and the required reserve ratio for checkable deposits is 10%. If National Bank of Guerneville has $4 million in reserves and Commonwealth has $5 million in reserves, how much in excess reserves does each bank have? (Enter your answers rounded to one decimal place.)

National Bank of Guerneville has

$nothing

million in excess reserves.

Commonwealth Bank has

$nothing

million in excess reserves.

Now suppose that a customer of National Bank of Guerneville writes a check for

$2

million to a real estate broker who deposits the check at Commonwealth. After the check clears, how much in excess reserves does each bank have?

National Bank of Guerneville has

$nothing

million in excess reserves.

Commonwealth Bank has

$nothing

million in excess reserves.