Consider the following balance sheet for X Savings (in millions).AssetsFloating rate mortgages $ 40(Currently 9% annuall7)30-year fixed rate loans(Currently 6% annuall7) 40Total Assets 80Liabilities and Equity1-year time deposits(currently 5% annually) $ 503-year time deposits(Currently 7% annually) 20Equity 10Total liabilities and equity 80a. What Is Xs expected net interest income at year end ?b. What will net interest income be if interest rates rise by 1 percent ?c. Using the cumulative repricing gap model what is the expected net interest income for a 1 percent increase in interest rates ?d. What will net interest income be at year end if interest rates on rate sensitive assets increase by 1% but interest rates on rate sensitive liabilities increase by 0.5% ?

  
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