Describe what is likely to happen to interest rates, deposits, and total bank reserves as a result of the transactions listed below:

a. The Federal Reserve sells $50 million in securities outright to a bank.

b. The Federal Reserve buys $85 million in securities outright from a bank.

c. The Federal Reserve sells $93 million in securities outright to a nonbank security dealer.

d. The Federal Reserve buys $42 million in securities outright from a nonbank security dealer.

e. The Federal Reserve sells $21 million in securities from its own portfolio to a foreign central bank.

f. The Federal Reserve buys $37 million in securities for its own portfolio that are being offered for sale by a foreign central bank.

g. The Federal Reserve declines the U.S. Treasury’s offer to roll over $150 million in Treasury notes that are maturing in the Fed’s own portfolio in exchange for new Treasury notes; instead the Federal Reserve demands cash from the Treasury.