17 unchanged sentences
Interest Rate Risk (“IRR”)
−Removed: The Company actively manages interest rate risk, as changes in market interest rates can have a significant impact on reported earnings.
The Company's IRR analysis is designed to compare income and economic valuation simulations in market scenarios designed to alter the direction, magnitude and speed of interest rate changes, as well as the slope of the yield curve.
−Removed: This analysis may not represent all impacts driven by changes in the interest rate environment, such as certain other card fee income and expense line items tied to card processing expense derived from contractual agreements with certain Partner Solutions partners and servicing fees the Company recognizes from custodial off-balance sheet deposits.
+Added: This analysis may not represent all impacts driven by changes in the interest rate environment, such as certain other card fee income and expense line items tied to card processing expense derived from contractual agreements with certain Partner Solutions partners and servicing fees the Company recognizes from off-balance sheet custodial deposits.
The Company does not currently engage in trading activities to control IRR although it may do so in the future, if deemed necessary, to help manage IRR.
27 unchanged sentences
Percentage change from base -11.0 % -5.5 % — % 5.2 % 10.2 %
−Removed: The EAR analysis reported at September 30, 2024 , shows that total interest income will change more rapidly than total interest expense over the next year.
+Added: The EAR analysis reported at September 30, 2025 , shows that changes in market interest rates have a larger impact on total interest income than total interest expense.
IRR is a snapshot in time.
16 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.