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Suppose that a U.S. FI has the following assets and liabilities:
Assets
$10 million cash (in dollars)
$100 million U.S. loans (one year) (in dollars) (12%)
$100 million equivalent UK loans (one year) (loans made in pounds) (10%)
Liabilities
$200 million U.S. CDs (one year) (in dollars) (5%)
$10 million borrowed funds (in dollars) (6%)
The current spot exchange rate is $1.5/£
Required:
Problem a. What is the FI's net exposure in pounds?
Problem b. Is this bank exposed to U.K. pound appreciation or depreciation?
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