Bank’s Excess Reserve Position Assignment

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Bank’s Excess Reserve Position Assignment

Norm Mining Funding Corp. is a bank with US$50,000 mil. in deposits. It has US$7,000 mil. in reserves, 43,000 mil. in loans, and has a required reserve ratio of 10%. The central bank increases the reserve requirement to 15%. What is the bank’s excess reserve position (i.e. how much does it have of excess reserves) in millions of US$? Get Finance homework help today

Norm Mining Funding Corp. is a bank with US$50,000 mil. in deposits. It has US$7,000 mil. in reserves, 43,000 mil. in loans, and has a required reserve ratio of 10%. The central bank increases the reserve requirement to 15%. What is the bank’s excess reserve position (i.e. how much does it have of excess reserves) in millions of US$? Get Finance homework help today