The average daily net transaction accounts of a local bank during the most recent reserve computation period is $340 million. The amount of average daily reserves at the Fed during the reserve maintenance period is $26.10 million, and the average daily vault cash corresponding to the maintenance period is $5.4 million. a. Under the rules effective in 2013, 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?

The average daily net transaction accounts of a local bank during the most recent reserve computation period is $340 million. The amount of average daily reserves at the Fed during the reserve maintenance period is $26.10 million, and the average daily vault cash corresponding to the maintenance period is $5.4 million. a. Under the rules effective in 2013, 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? Complete this question by entering your answers in the tabs below. Required A Required B Under the rules effective in 2013, what is the average daily reserve balance required to be held by the bank during the maintenance period? (Do not round intermediate calculations. Enter your answer in millions rounded to 3 decimal places. (e.g., 32.161)) Average daily reserve required million