if actual reserves in the banking system are $40,000, excess reserves are $10,000, and checkable deposits are $240,000, then the legal reserve requirement is multiple choice 5 percent. 10 percent. 20 percent. 12.5 percent.

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19-12-2022
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if actual reserves in the banking system are $40,000, excess reserves are $10,000, and checkable deposits are $240,000, then the legal reserve requirement is multiple choice 5 percent. 10 percent. 20 percent. 12.5 percent.

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KrishnaMitra KrishnaMitra · Answer 1 · 2022-12-22T05:52:35-05:00

if actual reserves in the banking system are $40,000, excess reserves are $10,000, and checkable deposits are $240,000, then the legal reserve requirement is 12.5 percent So, option (D) will be regarded as suitable.

Give a brief account on reserve requirement.

The amount of cash that banks must have on hand, either in their own safe deposit boxes or at the nearby Federal Reserve bank, in order to cover customer deposits, is known as the reserve requirement. One of the three basic instruments of monetary policy, together with open market operations and the discount rate, is the reserve requirement, which is set by the board of governors of the Federal Reserve. Reserve requirements ratios would be set to 0% as of March 26, 2020, according to a statement made by the Federal Reserve Board on March 15. Before the modification went into effect on March 26, 2020, the reserve requirement ratios for net transactions accounts varied according to the number of net transactions accounts held by the institution.

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