Business, 12.03.2021 15:00 yere144k

A bank currently holds $175 million in transaction deposits subject to legal reserves but has managed to enter into sweep account arrangements affecting $85 million of these accounts. Given that the bank must hold 3 percent legal reserves up to $47.8 million of transaction deposits and 10 percent legal reserves on any amount above that, how much has this bank reduced its total legal reserves as a result of these sweep arrangements

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A bank currently holds $175 million in transaction deposits subject to legal reserves but has manage...

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