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What changed 10-K
Item 7A. Quantitative and Qualitative Disclosures About Market Risk
2021-03-01 compared with 2020-02-28 · 1 added, 1 removed, 16 unchanged (11% of the section changed)
8 unchanged sentences
LIBOR is a commonly used indicative measure of the average interest rate at which major global banks could borrow from one another.
−Removed: The United Kingdom's Financial Conduct Authority, which regulates LIBOR, has publicly announced that it intends to discontinue the reporting of LIBOR rates after 2021.
+Added: The United Kingdom’s Financial Conduct Authority, which regulates LIBOR, has publicly announced that it intends to discontinue the reporting of certain LIBOR rates after 2021, with a complete cessation for all USD LIBOR rates after June 2023.
Certain of our agreements use LIBOR as a “benchmark” or “reference rate” for various terms.
6 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.