The ice-water phase change absorbs much more heat than heating water by 1 degree. The energy required for that phase change, called the 'enthalpy of fusion', is 333.55 Joules/gram. This is huge compared to the energy required to heat 1g of water by 1 degree, 4.18 J.
In other words, the ice 'cold bank' is much more of a cushion for temperature change than water is. One metric ton of ice is one million grams. The phase change melt absorbs 333 million joules ... the energy in about 2.8 gallons of gasoline. Multiply that by 28 trillion.
The bank is emptying.