A depository institution holds $131 million in required reserves and $9 million in excess reserves. Its remaining assets include $404 million in loans and $148 million in securities. If the institution's only liabilities are transactions deposits, calculate the required reserve ratio. %. (Enter your response rounded to the nearest integer.)

A depository institution holds $131 million in required reserves and $9 million in excess reserves. Its remaining assets include $404 million in loans and $148 million in securities. If the institution's only liabilities are transactions deposits, calculate the required reserve ratio. %. (Enter your response rounded to the nearest integer.)

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter25: Money, Banking, And The Federal Reserve System

Section: Chapter Questions

Problem 4P

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