k BSW Bank currently has $300 million in transaction deposits on its balance sheet. The Federal Reserve has currently set the reserve requirement at 6 percent of transaction deposits. a. If the Federal Reserve decreases the reserve requirement to 4 percent, show the balance sheet of BSW and the Federal Reserve System just before and after the full effect of the reserve requirement change. Assume BSW withdraws all excess reserves and gives out loans and that borrowers eventually return all of these funds to BSW in the form of transaction deposits. b. Redo part (a) using a 8 percent reserve requirement. Complete this question by entering your answers in the tabs below. ht Required A Required B ences Redo part (a) using a 8 percent reserve requirement. (Do not round intermediate calculations. Enter your answers in millions rounded to the nearest dollar amount.) Panel A: Initial Balance Sheets Securities Loans Federal Reserve Bank Assets Liabilities million Reserve accounts million BSW Bank Assets Liabilities million million Transaction deposits $ 300 million Reserve deposits at Fed Panel B: Balance Sheet after All Changes Securities Federal Reserve Bank Assets Liabilities million Reserve accounts million