6 unchanged sentences
A description of our market risk exposures may be found under “Quantitative and Qualitative Disclosures About Market Risk” in our 2024 Annual Report.
−Removed: There have been no material changes to our market risk exposures from the market risk exposures previously disclosed in our 2024 Annual Report.
+Added: There have been no material changes to our market risk exposures from the market risk exposures previously disclosed in our 2024 Annual Report, with the exception of sensitivity to changes in interest rates and equity prices.
+Added: The sensitivity of our financial instruments to a 100 basis point increase in interest rates increased potential losses to $4.8 billion at September 30, 2025 from $4.4 billion at December 31, 2024.
+Added: The sensitivity of our financial instruments to a 10% decrease in equity prices increased potential losses to $530 million at September 30, 2025 from $322 million at December 31, 2024.
+Added: The increases in potential losses on our interest rate and equity market sensitivities were driven by higher derivative balances at September 30, 2025 compared to the prior year.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.