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Bridgewater Savings Association maintains a clearing account at the Federal Reserve Bank and agrees to keep a minimum balance of $30 million in its clearing account. Over the two-week reserve maintenance period ending today Sweetbriar managed to keep an average

Bridgewater Savings Association maintains a clearing account at the Federal Reserve Bank and agrees to keep a minimum balance of $30 million in its clearing account. Over the two-week reserve maintenance period ending today Sweetbriar managed to keep an average clearing account balance of $33 million. If the Federal funds interest rate has averaged 1.75 percent over this particular maintenance period, what maximum amount would Bridgewater have available in the form of Federal Reserve credit to help offset any fees the Federal Reserve bank might charge this association for using Federal Reserve services?

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Bank Management and Financial Services

Bank Management and Financial Services

ISBN: 978-0078034671

9th edition

Authors: Peter Rose, Sylvia Hudgins

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Posted Date: October 31, 2014 10:48:03
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