Exercises – Lecture 07
1. 商业与投资银行代做
The average daily net transaction accounts deposit balance of a local bank during the most recent reserve computation period is $325 million. The amount of average daily reserves at the Fed during the reserve maintenance period is $21.2 million and the average daily vault cash corresponding to the maintenance period is $4.3 million.
a. What is the average daily reserve balance required to be held by the bank during the maintenance period?
b. Is the bank in compliance with the reserve requirements?
c. What amount of reserves can be carried over to the next maintenance period either as excess or shortfall?
d. If the local bank has an opportunity cost of 6 percent and deposits at the Fed pay 2 percent, what is the effect on the income statement from this reserve period?
2. 商业与投资银行代做
The following net transaction accounts and cash reserves at the Fed have been documented by a bank for computation of its reserve requirements (in millions) under lagged reserve accounting.
The average vault cash for the computation period has been estimated to be $1 million per day.
a. What level of average daily reserves is required to be held by the bank during the maintenance period, May 11 – 24?
b. Is the bank in compliance with the requirements?
c. What amount of required reserves can be carried over to the following computation period?
d. If the average cost of funds to the bank is 8 percent per year and deposits at the Fed pay 2 percent, what is the effect on the income statement for this bank for this reserve period?
3. 商业与投资银行代做
City Bank has estimated that its average daily net transaction accounts balance over the recent 14-day reserve computation period was $225 million. The average daily balance with the Fed over the 14-day maintenance period was $6.7 million, and the average daily balance of vault cash over the two-week computation period was $6 million.
a. Under the rules effective in 2018, what is the amount of average daily reserves required to be held during the reserve maintenance period for these net transaction accounts balances?
b. What is the average daily balance of reserves held by the bank over the maintenance period? By what amount were the average reserves held higher or lower than the required reserves?
c. If the bank had transferred $20 million of its deposits every Friday over the two-week computation period to one of its offshore facilities, what would be the revised average daily reserve requirement?
4. 商业与投资银行代做
Assume that the 14-day reserve computation period for problem (3) above extended from May 18 through May 31.
a. What is the corresponding reserve maintenance period under the rules effective in 2018?
b. Given your answers to parts (a) and (b) of problem (10), what would the average required reserves need to be for the maintenance period for the bank to be in reserve compliance? What are the minimum and maximum reserves that may be maintained by the bank to be in reserve compliance?
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