14 unchanged sentences
Governing policies are subject to review by regulators and are updated to incorporate their observations and adapt to changes in idiosyncratic and systemic risks.
−Removed: As of September 30, 2024,
−Removed: interest rate risk was within policy guidelines established by ALCO and the Board.
−Removed: 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.
+Added: As of March 31, 2025, interest rate risk was within policy guidelines established by ALCO and the Board.
+Added: One set of interest rates modeled and evaluated against flat interest rates and a static balance sheet is a series of immediate parallel shifts
+Added: in the yield curve.
Our most recent analysis of our interest rate sensitivity is provided in the following table as an example rather than an expectation of likely interest rate movements.
6 unchanged sentences
down 200 3.7 % 2.2 %
−Removed: (2.5) % (1.2) %
−Removed: (2.3) % (1.3) %
Interest rate sensitivity is a function of the repricing characteristics of our assets and liabilities.
5 unchanged sentences
The above tables reflect deposit betas of up to 70%, averaging 42%, for rates paid on non-maturity interest-bearing deposits in rising rate scenarios.
−Removed: Deposit betas of up to 60%, averaging 35%, are applied to rates paid on non-maturity interest-bearing deposits in falling rate scenarios with a three month lag assumed.
+Added: Deposit betas of up to 60%, averaging 36%, are applied to rates paid on non-maturity interest-bearing deposits in falling rate scenarios with a one month lag assumed.
However, deposit pricing is actively managed at the relationship level and closely monitored real-time to avoid unintended consequences.
The actual rates and timing of prepayments on loans and investment securities could vary significantly from the assu mptions applied in the various scenarios.
−Removed: During the third quarter the Bank's asset sensitivity increased due to deposit inflows, which increased cash balances as well as the balance sheet repositioning activities initiated in the second quarter.
−Removed: In order to slightly reduce this asset sensitivity, subsequent to quarter end on November 4, 2024 the Bank terminated its interest rate swaps tied to available-for-sale securities.
Lastly, uneven changes in different tenors of U.S.
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.