7 unchanged sentences
The asset and liability management policy sets limits on the acceptable amount of change to net interest income and economic value of equity in different interest rate environments.
−Removed: 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.
+Added: From time to time, we enter into interest rate swap contracts to mitigate the changes in the fair value of selected investment securities and specified long-term fixed-rate loans and firm commitments to enter into long-term fixed-rate loans caused by changes in interest rates.
See Note 9 to the Consolidated Financial Statements in this Form 10-Q.
2 unchanged sentences
A simplified statement of condition is prepared on a quarterly basis as a starting point, using instrument level data of our actual loans, investments, borrowings and deposits as inputs.
−Removed: If potential changes to net equity value and net interest income resulting from hypothetical interest rate changes are not within the limits established by the Board of Directors, management may adjust the asset and liability mix to bring the risk position within approved limits or take other actions.
+Added: If potential changes to net equity
+Added: value and net interest income resulting from hypothetical interest rate changes are not within the limits established by the Board of Directors, management may adjust the asset and liability mix to bring the risk position within approved limits or take other actions.
Governing policies are subject to review by regulators and are updated to incorporate their observations and to adapt to changes in idiosyncratic and systemic risks.
−Removed: At June 30, 2023, interest rate risk was within policy guidelines established by ALCO and the Board.
+Added: At September 30, 2023, interest rate risk was within policy guidelines established by ALCO and the Board.
One set of interest rates modeled and evaluated against flat interest rates and a static balance sheet is a series of immediate parallel shifts in the yield curve.
7 unchanged sentences
down 200 3.6 % (0.4) %
+Added: 7.0 % (1.4) %
Interest rate sensitivity is a function of the repricing characteristics of our assets and liabilities.
4 unchanged sentences
Important deposit modeling assumptions include the speed of deposit run-off and the amount by which interest-bearing deposit rates increase or decrease when market interest rates change, otherwise known as the deposit beta.
−Removed: We applied deposit betas up t o 45%, averaging 35%, to rates paid on non-maturity interest-bearing deposits in rising rate scenarios, reflected in the table above.
+Added: The above tables reflect deposit betas of u p to 45%, averaging 36%, to rates paid on non-maturity interest-bearing deposits in rising rate scenarios.
The actual rates and timing of prepayments on loans and investment securities could vary significantly from the assumptions applied in the various scenarios.
3 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.