The average daily reserves at the Fed for the 14 -day reserve maintenance period have been $39.5 million per day, and the average vault cash for the computation period has been estimated to be $1 mittion per day. EXAMPLE 13-2 Computation of Dally Average Required Reserves Consider ABC Bank's reserve manager, who wants to assess the bank's minimum cash reserve requirement target. The manager knows the bank's net transaction accounts balance at the close of the banking day on each of the 14 days over the period Tuesday. June 30, to Monday, July 13. Consider the realized net transaction account positions of ABC Bank in Table 13-25. The minimum daily average reserves that a bank muta maintain is compoted as a percentage of the daily merape net transaction accounts held by the bank over the two-week computation period, where Friday's balances are carried over for Saturday and Sundiy. The minimum daily average for ABC Bank to hold agains the daily average of $1,350.70 million in net transaction accounts is calculated as follows (amounts in millions): Daily merage net tranisction accounts Reserve percentage = Daily werage reserves required a. What is the omount of the average daily required reserves to be held by the bank during the maintenance period? b. Is the bank in compliance with the requirements? Complete this question by entering your answers in the tabs below