A bank has the following assets

$25 mm C&J loans interest rate = base rate = short term treasury (currently 0%) + 1% credit spread

$75mm of 30-year treasuries yielding 2%

its liabilities are

$10 million equity capital + $80 mm 1 year insured CDs playing 0% + $10 mm 2 years uninsured CD's paying 1%.

Suppose that after a rapid 5% interest rate hike by the Fed, the bank's treasury holdings decrease in value by 40% and insured CD holders run withdrawing their funds after paying a penalty of 0.5% of face value = $0.4mm ($80mm x 0.5%). What is the loss to the deposit insurance fund? Please enter your answer in $ million, so if your answer is $1.22mm, enter the number 1.22