An example is a household which buys a newly issued government bond through the services of a broker, when the bond is sold by the broker in its original state.
The caveat is that higher reserves can decrease the perception of risk and thus the government bond interest rate, so this measures can overstate the cost.
Furthermore, in order to attract capital from investors, the small firm issuing the second bond must pay an interest rate higher than 5% that the government bond pays.