Assets Cash Rainy Bank (in million) Liabilities and Equity $10 Demand deposits (Duration 0) $60 $50 Wholesale funding (Duration 1) $30 $40 Equity Securities (Duration 5) Loans (Duration 10) $10 Assets Easy Life Insurance (in million) Liabilities and Equity $10 Policies (Duration 10) $90 Equity $90 Cash Securities (Duration 1) $10 b) Demonstrate how swapping the cash flows from $90m of assets between these two institutions can reduce the interest rate risk for both companies, by calculating the leverage adjusted) duration gap after the swap (7 marks)