The average daily net transaction accounts balance of a local bank during the most recent reserve computation period is $325 million. The amount of average daily reserves at the Fed during the reserve maintenance period is $21.2 million and the average daily vault cash corresponding to the computation period is $4.3 million a. What is the average daily reserve balance required to be held by the bank during the maintenance period? b. Is the bank in compliance with the reserve requirements? c. What amount of reserves can be carried over to the next maintenance period either as excess or as shortfall? d If the local bank has an opportunity cost of 6 percent and deposits at the Fed pay 0.2 percent, what is the effect on the income statement from this reserve period? The average daily net transaction accounts balance of a local bank during the most recent reserve computation period is $325 million. The amount of average daily reserves at the Fed during the reserve maintenance period is $21.2 million and the average daily vault cash corresponding to the computation period is $4.3 million a. What is the average daily reserve balance required to be held by the bank during the maintenance period? b. Is the bank in compliance with the reserve requirements? c. What amount of reserves can be carried over to the next maintenance period either as excess or as shortfall? d If the local bank has an opportunity cost of 6 percent and deposits at the Fed pay 0.2 percent, what is the effect on the income statement from this reserve period