Assets Liabilities Reserves $3000 Deposits $22,000 Loans $20,000 Debt $2000 Securities $5,000 Balance sheet for Fictional First bank Refer to the balance sheet above. Suppose the reserve requirement is 10%. What is the maximum amount that Fictional First can loan out and still meet the reserve requirement?a. $1200 b. $3000 c. $800 d. $2200 e. $0

$800

Explanation:

If the reserve requirement is 10%, then the maximum amount that Fictional First can loan out and still meet the reserve requirement will be:

Deposits = $22000

Then, the required reserve will be

= 10% × $22000

= 0.1 × $22000

= $2200

Since, the reserves is $3000, then the additional amount that's held as reserves will be:

= $3000 - $2200

= $800.

Therefore, the maximum amount that Fictional First can loan out and still meet the reserve requirement is $800.

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