6 unchanged sentences
While operating net interest income has become a more meaningful component to our consolidated operating results, we do not consider our cash and cash equivalents or our investment securities to be subject to material interest rate risk due to their short duration.
−Removed: However, the Federal Open Market Committee (FOMC) decreased the federal funds target rate multiple times in 2019 to end the year, with additional reductions possible in the future.
−Removed: Further reductions in short-term interest rates could result in a decrease in the amount of net interest income we earn.
−Removed: As of December 31, 2019 , we had $35.0 million outstanding under our $100.0 million line of credit agreement.
+Added: However, the Federal Open Market Committee (FOMC) decreased the federal funds target rate in March 2020 to a range of 0%-0.25%.
+Added: An extended duration of near zero short-term interest rates could adversely impact the amount of net interest income we earn in the future.
+Added: As of December 31, 2020, we had no balances outstanding under our $100.0 million line of credit agreement.
Refer to Note 11 — Debt to the Consolidated Financial Statements included herein for additional information.
−Removed: Our revolving credit facility is, and is expected to be, at variable rates of interest and expose us to interest rate risk.
+Added: Should we require additional liquidity from our line of credit, our borrowings are expected to be at variable rates of interest and would expose us to interest rate risk.
Although any short-term borrowings under our revolving credit facility would likely be insensitive to interest rate changes, interest expense on short-term borrowings will increase and decrease with changes in the underlying short-term interest rates.
−Removed: For example, assuming our credit agreement is drawn up to its maximum borrowing capacity of $100.0 million, based
−Removed: on the applicable LIBOR and margin in effect as of December 31, 2019 , each quarter point of change in interest rates would result in a $0.3 million change in our annual interest expense.
+Added: For example, assuming our credit agreement is drawn up to its maximum borrowing capacity of $100.0 million, based on the applicable LIBOR and margin in effect as of December 31, 2020, each quarter point of change in interest rates would result in a $0.3 million change in our annual interest expense.
We actively monitor our interest rate exposure and our objective is to reduce, where we deem appropriate to do so, fluctuations in earnings and cash flows associated with changes in interest rates.
10 unchanged sentences
Our management's Enterprise Risk Management Committee is responsible for monitoring our retail distributor and Simply Paid distribution partner exposure and assigning credit limits and reports regularly to the risk committee of our Board of Directors.
+Added: We continue to monitor our exposure to credit risk with our retail distributors and other business partners in light of the COVID-19 pandemic.
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.