Treasury Management

The executive board of money bank is discussing the interest rate risks in the banking book. Based on the banks current exposures, the treasurer present he following figures for a parallel upward interest rate shock of 200bp:

delta EVE -30 million

delta NII for the next 12 month +5million

Since the executive board expects rising interest rates, there is debate about wether they should hedge the current EVE position.

What kind of interest rate swap transaction would hedge the position and what are the advantages and disadvantages of such a hedge?