2。 The interest rate is based on the interbank interest rate, and the interest rate of 7% should be 4.6% (interbank interest rate) +2.4%. If the inter-bank interest rate is 5.3% after three months, the bank loses 5.3%+2.4%-7%=0.7% on the spot loan interest rate, and the interest loss of the loan for six months: 20,000,000 * 0.7%/2 = 7,000 USD. After three months, the return of the futures market was 20,000,000 * (5.4%). 40 shares on the first floor are based on a 6-month loan period, while the interest rate futures period is 3 months multiplied by 2.

3。 Without hedging, the difference with the market interest rate is (5.3%+2.4%)-7%=0.7%.

4。 The interest rate difference after hedging is: (5.3%+2.4%)-7+(5.4%-4.8%) = 0.1%.