The following assets were recorded on the balance sheet for HarperBank at the e...
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The following assets were recorded on the balance sheet for HarperBank at the end of this financial year:
Asset Type
|
Asset Value ($million)
|
Risk Weighting (%)
|
Cash and Reserve Bank deposits
|
6,000
|
0%
|
Loans to Australian government entities
|
9,000
|
20%
|
Residential mortgages
|
18,000
|
50%
|
Corporate loans and commercial property loans
|
22,000
|
100%
|
If the required Common Equity Tier 1 (CET1) capital ratio is , how much CET1 capital (in $ million) does HarperBank need to hold?
(Instructions: Enter numbers only (no $ sign). Round your answers to two decimal places.)