The following is a consolidated balance sheet for the chartered banking system.All figures are in billions.Assume that the desired reserve ratio is 20 percent. 
Refer to the above information.The amount of excess reserves is:
Definitions:
Holding-period Return
The cumulative return gained from owning an asset or collection of assets over a specific timeframe, usually represented as a percentage.
Cash Dividend
A payment made by a company out of its earnings to shareholders in the form of cash.
Complete Portfolio
An investment strategy that includes a diverse mix of assets to optimize risk and return.
Capital Allocation Line
A line in investment graph that shows the risk-reward profiles of various portfolios, combining a risk-free asset with a risky portfolio to maximize returns.
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