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: September 30, 2024 June 30, 2024
+Added: March 31, 2025 December 31, 2024
(Dollars in millions)
5 unchanged sentences
300 basis points falling (47.1) (4.31) (54.9) (5.05)
−Removed: Under the simulation, in the three rising rate scenarios and three falling rate scenarios, interest rate risk is more asset sensitive when compared to the scenarios in the previous quarter.
−Removed: This change was primarily due to actions taken by the Federal Reserve to reduce short-term interest rates by 50 basis points.
−Removed: As short-term rates fall, deposit rates become less sensitive which resulted in larger declines in interest income in the falling rate scenarios and growth in interest income in the rising rate scenarios.
+Added: Under the simulation, in the three rising rate scenarios and three falling rate scenarios, interest rate risk is less asset sensitive when compared to the scenarios in the previous quarter.
+Added: This change was primarily due to lower average interest earning cash balances at the Federal Reserve, partly offset by a decrease in securities sold under agreements to repurchase.
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.