Suppose the Federal Reserve Bank decides to make an open market purchase. The Fed's buy order is matched with a sell order placed not by a bank but instead an individual or a non-bank corporation. The Fed buys $150 in US T-bills from the non-bank public. The seller of the T-bills receives a $ 150 check from the Fed, which he or she cashes at Bank of America. A. Using T-accounts show the impact of this transaction of the balance sheets of all three market participations B. Non-bank public Assets Liabilities Bank of America Assets Liabilities The Fed Assets Liabilities Suppose the Federal Reserve Bank decides to make an open market purchase. The Fed's buy order is matched with a sell order placed not by a bank but instead an individual or a non-bank corporation. The Fed buys $150 in US T-bills from the non-bank public. The seller of the T-bills receives a $ 150 check from the Fed, which he or she cashes at Bank of America. A. Using T-accounts show the impact of this transaction of the balance sheets of all three market participations B. Non-bank public Assets Liabilities Bank of America Assets Liabilities The Fed Assets Liabilities