A bank has the following transaction with an AA-rated corporation:

(a) a 2-year interest rate swap with a principal of $100 million worth

$3 million;

(b) a 9-month foreign exchange forward contract with a principal of $150 million worth -$5 million; and

(c) a 6-month long option on gold with a principal of $50 worth $7 million. What is the capital requirement under Basel I if there is no netting? What difference does it make if the netting amendment applies? What is the capital required under Basel II when the standardized approach is used?