A depository institution has borrowed $4 million in central bank funds and $2 million from...
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Finance
A depository institution has borrowed $4 million in central bank funds and $2 million from the central bank rediscounting facility to meet seasonal demands, has $12 million in T-notes, a $7 million line of credit to borrow in the repo market and $6 million in excess cash reserves (above the regulatory reserve requirements). What is the net liquidity of the depository institution? (in dollars, rounded to two decimal places)
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