The reserve percentages are

Up to : 3%

Over : 10%

4. Bank X had just completed the 2-week reserve maintenance period, during which it held a daily average of $238 million in reserve deposits with the Fed. The bank had a daily average reserve deficiency the previous maintenance period of $3.75 million., which was within the allowable limit. Bank X's daily average net transactions accounts for the base computation period along with balances for selected assets are listed below: Daily Average (Millions of Dollars) Net transactions accounts $3,257 Demand deposits due from U.S. depository institutions 366 Cash items in process of collection 181 Vault cash holdings 19.3 Using the reserve percentages from Exhibit 11.3: a. Calculate the bank's daily average required reserve holdings during the maintenance period. b. Did bank X meet its reserve target? C. If the bank had carried forward a daily reserve surplus of $2.1 million instead of a deficiency, would it have met its target