Answer the question based on the following consolidated balance sheet for the commercial banking system. Assume the required reserve ratio is 12 percent. All figures are in billions of dollars: 
Refer to the above data. If the commercial banking system actually loans out the maximum amount it is able to lend, excess reserves will fall:
Definitions:
Negotiable Instrument
An official paper that obligates the payment of a fixed money amount, which can be demanded at any time or paid at a specific interval, with the document listing the responsible payer's name.
Words of Negotiability
Specific legal phrases or terms used in a financial instrument that indicate its transferability or negotiability.
Bearer Instrument
A negotiable financial instrument that entitles the holder or bearer to the rights stated on the document.
Truth-in-Savings Act
A U.S. federal law designed to promote the disclosure of account terms and fees to consumers, particularly regarding savings accounts and interest-earning bank accounts.
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