The table shows the commercial banks' balance sheet (aggregated over all the banks). The commercial banks' desired reserve ratio on all deposits is 1 percent and there is no currency drain. Calculate the bank's excess reserves. >>> Answer to 2 decimal places. The banks' excess reserves are $ 37.9 million. If the banks use all of these excess reserves to make loans, what is the quantity of loans? The quantity of loans will be S; million. Assets Liabilities (millions of dollars) Reserves at the Fed Cash in vault Securities Loans 25 15 50 120 Checkable deposits Savings deposits 100 110 E