−Removed: Quantitative and Qualitative Disclosure about Market Risk
+Added: Quantitative and Qualitative Disclosures about Market Risk
Market risk is defined as the risk of loss arising from an adverse change in the market value (or prices) of financial instruments.
5 unchanged sentences
From time to time, we enter into interest rate swap contracts to mitigate the changes in the fair value of specified long-term fixed-rate loans and firm commitments to enter into long-term fixed-rate loans caused by changes in interest rates.
−Removed: See Note 14 to the Consolidated Financial Statements in ITEM 8 of this report.
+Added: Refer to Note 14 to the Consolidated Financial Statements in ITEM 8 of this report.
ALCO and the Board of Directors review our exposure to interest rate risk at least quarterly.
6 unchanged sentences
Table 16 Effect of Interest Rate Change on Net Interest Income (NII)
−Removed: Immediate Changes in Interest Rates (in basis points)
−Removed: Estimated Change in NII in Year 1 (as percent of NII)
−Removed: Estimated Change in NII in Year 2 (as percent of NII)
+Added: Immediate Changes in Interest Rates (in basis points) Estimated Change in NII in Year 1 (as percent of NII) Estimated Change in NII in Year 2 (as percent of NII)
+Added: up 400 8.9% 23.3%
+Added: up 300 6.7% 17.6%
+Added: up 200 4.4% 11.3%
+Added: up 100 1.8% 4.6%
+Added: down 100 (1.2)% (2.3)%
Interest rate sensitivity is a function of the repricing characteristics of our assets and liabilities.
9 unchanged sentences
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.