Multiple Choice
The following are simplified consolidated balance sheets for the chartered banking system and the Bank of Canada.Do not cumulate your answers; that is, do return to the data given in the original balance sheets in answering each question.Assume a desired reserve ratio of 5 percent for the chartered banks.All figures are in billions of dollars.CONSOLIDATED BALANCE SHEET: CHARTERED BANKING SYSTEM 
BALANCE SHEET: BANK OF CANADA
Refer to the above information.The chartered banks have excess reserves of:
A) $1
B) $6
C) $20
D) $0
Correct Answer:
Verified
Correct Answer:
Verified
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