26 unchanged sentences
The results are affected by projected rates, prepayments, caps and floors.
−Removed: Management exercises its best judgment in making assumptions regarding events
−Removed: that management can influence, such as non-contractual deposit re-pricing, as well as events outside of management's control, such as customer behavior on loan and deposit activity and the effect that competition has on both lending and deposit pricing.
+Added: Management exercises its best judgment in making assumptions regarding events that management can influence, such as non-contractual deposit re-pricing, as well as events outside of management's control, such as customer behavior on loan and deposit activity and the effect that competition has on both lending and deposit pricing.
These assumptions are subjective and, as a result, net interest income simulation results will differ from actual results due to the timing, magnitude, and frequency of interest rate changes, changes in market conditions, customer behavior and management strategies, among other factors.
2 unchanged sentences
It models basis point parallel shifts in market interest rates over the next one-year period.
−Removed: The following table shows the results of the scenarios as of December 31, 2021:
+Added: The following table shows the results of the scenarios as of March 31, 2022:
Net Sensitive Earnings at Risk
7 unchanged sentences
Percentage change from base -5.3 % — % 8.1 % 16.5 % 25.2 % 33.9 %
−Removed: The EAR analysis reported at December 31, 2021 , shows that Total Interest Sensitive Income will change more rapidly than Total Interest Sensitive Expense over the next year.
+Added: The EAR analysis reported at March 31, 2022 , shows that Total Interest Sensitive Income will change more rapidly than Total Interest Sensitive Expense over the next year.
IRR is a snapshot in time.
5 unchanged sentences
It models immediate basis point parallel shifts in market interest rates.
−Removed: The following table shows the results of the scenarios as December 31, 2021:
+Added: The following table shows the results of the scenarios as March 31, 2022:
Economic Value Sensitivity
3 unchanged sentences
Percentage change from base -7.4 % 5.8 % 10.5 % 14.4 % 18.5 %
−Removed: The EVE at risk reported at December 31, 2021 shows that the economic value of equity position is expected to benefit from rising interest rates due to the large amount of noninterest-bearing funding.
+Added: The EVE at risk reported at March 31, 2022 shows that the economic value of equity position is expected to benefit from rising interest rates due to the large amount of noninterest-bearing funding.
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.