Business
Business, 20.02.2020 00:24, smarty5187

Now, suppose first main street bank loans out all of its new excess reserves to rina, who immediately uses the funds to write a check to musashi. musashi deposits the funds immediately into his checking account at second republic bank. then second republic bank lends out all of its new excess reserves to bob, who writes a check to yvette, who deposits the money into her account at third fidelity bank. third fidelity lends out all of its new excess reserves to cho in turn.

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