The table below reports the breakdown of assets and liabilities for all commercial banks for January 2020, two months before the start of the COVID-19 recession, and December 2020. Assets (in billions of dollars) Liabilities (in billions of dollars) Jan-20Dec-20 Jan-20Dec-20Loans$10,041.54$10,376.47Deposits$13,293.30$16,061.82Reserves$1,768.52$3,168.94Borrowings$1,965.90$1,715.81Treasury Securities$3,008.19$3,726.10Other Liabilities$593.42$825.74Other Assets$2,984.52$3,224.45 Total Assets$17,802.77$20,495.96Total Liabilties$17,802.77$20,495.96From January to December, the net worth of banks changed by $___ billion (round your answer to two decimal places).

. The net value of a bank is also known as bank capital. A bank's assets include cash in its vaults,…

Answered: The table below reports the breakdown…

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter12: Money, Banking And The Financial System

Section: Chapter Questions

Problem 3WNG

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The table below reports the breakdown of assets and liabilities for all commercial banks for January 2020, two months before the start of the COVID-19 recession, and December 2020.

	Assets (in billions of dollars)		Liabilities (in billions of dollars)
	Jan-20	Dec-20		Jan-20	Dec-20
Loans	$10,041.54	$10,376.47	Deposits	$13,293.30	$16,061.82
Reserves	$1,768.52	$3,168.94	Borrowings	$1,965.90	$1,715.81
Treasury Securities	$3,008.19	$3,726.10	Other Liabilities	$593.42	$825.74
Other Assets	$2,984.52	$3,224.45
Total Assets	$17,802.77	$20,495.96	Total Liabilties	$17,802.77	$20,495.96

From January to December, the net worth of banks changed by $___ billion (round your answer to two decimal places).

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