Determine the 6-month dollar gap at the agricultural

Reference no: EM133377389

Question: The Agricultural Bank of the Midwest is currently assessing interest rate risk. The information compiled includes the following items:

Fixed-rate loans maturing in 6 months	4,000,000
All other fixed-rate loans	50,000,000
Fixed rate securities maturing in 12 months	65,000,000
Variable rate loans maturing in 6 months	15,000,000
All other variable-rate loans	50,000,000
NOW accounts	25,000,000
Federal funds purchased	15,000,000
3-month certificates of deposit (CDs)	50,000,000
1-year certificates of deposit (CDs)	35,500,000
Fixed-rate loans maturing in 12 months	20,000,000
Fixed rate securities maturing in 6 months	15,000,000
All other fixed-rate securities	5,000,000
Variable rate loans maturing in 12 months	35,500,000
Federal funds sold	70,000,000
Money Market Deposit Accounts (MMDA)	10,000,000
Passbook savings accounts	1,000,000
6-month certificates of deposit (CDs)	50,000,000
5-year certificates of deposit (CDs)	40,500,000

All variable rate loans at The Agricultural Bank of the Midwest are repriced at the beginning of each month. Federal funds sold and purchased are repriced daily. Interest rates on passbook savings accounts can change once a year. Interest rates on NOW and MMDA accounts change daily.

Determine the 6-month dollar gap at The Agricultural Bank of the Midwest.

Reference no: EM133377389

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