The Average Daily Net Transaction Accounts of a Local Bank

question 18

Multiple Choice

The average daily net transaction accounts of a local bank during the most recent reserve computation period is $687 million. The amount of average daily reserves at the Fed during the reserve maintenance period is $35.23 million,and the average daily vault cash corresponding to the maintenance period is $12.74 million. What is the average daily reserve balance required to be held by the bank during the maintenance period?

• A)$40.12 million
• B)$47.79 million
• C)$54.64 million
• D)$60.53 million
• E)$62.34 million

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