6) Norm Mining Funding Corp. is a bank with US$50,000 mil. in deposits. It has...
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6) Norm Mining Funding Corp. is a bank with US$50,000 mil. in deposits. It has US$7,000 mil. in reserves, 43,000 mil. in loans, and has a required reserve ratio of 10%. The central bank increases the reserve requirement to 15%. What is the banks required reserve position (i.e. how much does it have of required reserves) in millions of US$?
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