$17 million three-month loan commitment to a private agent. m. $30 million standby letter of credit to back a corporate issue of commercial paper. n. $4 million five-year interest rate swap with no current exposure (the counterparty is a private agent). o. $6 million two-year currency swap with $500,000 cur- rent exposure (the counterparty is a private agent). The following information is for problems 11-14. Consider a bank's balance sheet as follows. On-Balance-Sheet Items Category Face Value Cash 1 $121,600 Short-term government securities ( <92 days) 1 5,400 Long-term government securities (>92 days) I 414,400 Federal reserve stock 1 9.800 Repos secured by federal agencies 2 159,000 Claims on U.S. depository institutions 2 937,900 Short-term ( <1 year) claims on foreign banks 22 1,640,000 170,000 General obligations municipals Claims on or guaranteed by federal agencies Municipal revenue bonds 23 2 26,500 3 112,900 Commercial loans, BB+ rated 4 6,645,700 Claims on foreign banks (>1 year) 4 5,800 Conversion Face Off-Balance-Sheet Items Factor Value Guaranteed by U.S. Government: Loan commitments, AAA rated <1 year 0% 300 1-5 year 50% 1,140 Standby letters of credit, AA rated Performance related 50% 200 Other 100% 100 Backed by Domestic Depository Institution: Loan commitments, BBB+ rated <1 year 20% $ 1,000 >1 year 50% 3,000 Standby letters of credit, AA rated Performance related 50% 200 Other 100% 56,400 Commercial letters of credit, BBB+ rated 20% 400 Backed by State or Local Government Revenues: Loan commitments, BBB-rated >I year 50% $ 100 Standby letters of credit, BBB rated Performance related 50% 135,400 Extended to Corporate Customers: Loan commitments, CCC rated 1 year 50% 3,046,278 Standby letters of credit, BBB rated Performance related 50% 101,543 Direct credit substitute 100% 490,900 Commercial letters of credit, BB-rated 20% 78,978 Category II Interest Rate Derivative Contracts: (current exposure assumed to be zero) <1 year (notional amount) >1-5 year (notional amount) 0% 2,000 5% 5,000