First Union has no excess reserves when a new deposit of $20,000 is made. The required reserve ratio is 20 percent. Assuming that banks don't hold on to excess reserves and the public deposits new currency into their checking accounts, the banking system creates in checking account balances. On the other hand, if banks hold on to some excess reserves, then the banking system would create in checking account balances. O $200,000; less than $200,000 O $100,000; more than $100,000 O $200,000: more than $200,000 O $40,000; more than $40,000 O $100,000; less than $100,000