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The following net transaction accounts have been documented by a bank for the computation of its reserve requirements ( in millions ) . Tuesday 1
The following net transaction accounts have been documented by a bank for the computation of its reserve requirements in millions
Tuesday th Wednesday th Thursday th Friday th Monday th Tuesday th Wednesday th Thursday th Friday th Monday th
Net transaction accounts $ $ $ $ $ $ $ $ $ $
The average daily reserves at the Fed for the day reserve maintenance period have been $ million per day, and the average vault cash for the computation period has been estimated to be $ million per day.
a What is the amount 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?
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