A regulatory analyst at a major bank is compiling a report on the bank's credit risk capital for the current year, employing the Basel II IRB approach to perform the calculation. As part of this process, the analyst identifies a portfolio of credit exposures with equal values, held by borrowers sharing the same probability of default. The analyst has gathered the following details regarding the portfolio:

Exposure at default	EUR 200 million
1-year expected loss on the portfolio	EUR 4.2 million
Expected recovery rate on a defaulted credit	30.00%
1-year portfolio default rate at the 95th percentile	5.66%
1-year portfolio default rate at the 99.9th percentile	9.87%

What is the correct estimate of the Basel II credit risk capital that the bank should reserve for this portfolio?