8 unchanged sentences
While the future effects of rising and falling rates on deposit balances cannot be known, the Company maintains a practice of running multiple rate scenarios, when relevant, to better understand interest rate risk and its effect on the Company’s performance.
−Removed: March 31, 2024 December 31, 2023
+Added: June 30, 2024 March 31, 2024
(Dollars in millions)
5 unchanged sentences
300 basis points falling (44.6) (4.16) (37.9) (3.73)
−Removed: Under the simulation, in the three rising rate scenarios, interest rate risk is mostly unchanged from the scenarios in the previous quarter and in the three falling rate scenarios, interest rate risk is more negative when compared to the scenarios in the previous quarter.
−Removed: This change was primarily due to a more conservative approach in modeling premium money market deposit accounts in the falling interest rate scenarios.
+Added: Under the simulation, in the three rising rate scenarios, interest rate risk is improved compared to the scenarios in the previous quarter and in the three falling rate scenarios, interest rate risk is more negative when compared to the scenarios in the previous quarter.
+Added: This change was primarily due to higher interest earning cash balances at the Federal Reserve coupled with the completion of the planned repositioning of a portion of the investment securities portfolio.
The comparison above provides insight into potential effects of changes in rates on net interest income.
1 unchanged sentence
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.