Question: Assets Liabilities Reserves 250 Deposits Required __ Transaction (checking) deposits 1000 Excess __ Savings deposits 3000 Loans Money Market deposits 500 Variable rate loans 750

Assets Liabilities
Reserves 250 Deposits
Required __ Transaction (checking) deposits 1000
Excess __ Savings deposits 3000
Loans Money Market deposits 500
Variable rate loans 750 Time deposits (CDs)
Short-term loans 1600 Fixed rate 500
Long-term fixed rate loans 2000 Variable rate 100
Securities Borrowing
Short-term securities 500 Fed funds borrowed 0
Long-term securities 600

Refer to the bank balance sheet above. Calculate the gap between interest-sensitive assets and interest sensitive liabilities. Answer in millions and do not enter a $ sign (Please show step by step)

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