1 unchanged sentence
Liquidity and Market Risk Management
−Removed: At June 30, 2023, we held $1.71 billion in assets that could be used for liquidity purposes, which we refer to as net available internal liquidity.
+Added: At September 30, 2023, we held $1.78 billion in assets that could be used for liquidity purposes, which we refer to as net available internal liquidity.
This balance consisted of $1.38 billion in unpledged investment securities which could be used for additional secured borrowing capacity, $228.1 million in cash on deposit with the Federal Reserve Bank ("FRB") and $172.7 million in other liquid cash accounts.
−Removed: Consistent with our practice of maintaining access to significant external liquidity, we had $4.90 billion in net available sources of borrowed funds, which we refer to as net available external liquidity, as of June 30, 2023.
−Removed: This included $5.20 billion in total borrowing capacity with the Federal Home Loan Bank ("FHLB"), of which $1.83 billion has been drawn upon in the ordinary course of business, resulting in $3.37 billion in net available liquidity with the FHLB as of June 30, 2023.
+Added: Consistent with our practice of maintaining access to significant external liquidity, we had $4.33 billion in net available sources of borrowed funds, which we refer to as net available external liquidity, as of September 30, 2023.
+Added: This included $5.09 billion in total borrowing capacity with the Federal Home Loan Bank ("FHLB"), of which $2.00 billion has been drawn upon in the ordinary course of business, resulting in $3.09 billion in net available liquidity with the FHLB as of September 30, 2023.
The $2.00 billion consisted of $750.0 million in outstanding FHLB advances and $1.25 billion used for pledging purposes.
−Removed: We also had access to approximately $1.48 billion in liquidity with the FRB as of June 30, 2023, of which $50.0 million has been drawn upon in the ordinary course of business, resulting in $1.43 billion in net available liquidity with the FRB as of June 30, 2023.
+Added: We also had access to approximately $1.39 billion in liquidity with the FRB as of September 30, 2023, of which $250.0 million has been drawn upon in the ordinary course of business, resulting in $1.14 billion in net available liquidity with the FRB as of September 30, 2023.
The $1.14 billion consisted of $80.9 million available borrowing capacity from the Discount Window and $1.06 billion available through the Bank Term Funding Program ("BTFP").
−Removed: As of June 30, 2023, the Company also had access to $55.0 million from First National Bankers’ Bank ("FNBB"), and $45.0 million from other various external sources.
−Removed: Overall, we had $6.61 billion net available liquidity as of June 30, 2023, which consisted of $1.71 billion of net available internal liquidity and $4.90 billion in net available external liquidity.
−Removed: Details on our available liquidity as of June 30, 2023 is available below.
+Added: As of September 30, 2023, the Company also had access to $55.0 million from First National Bankers’ Bank ("FNBB"), and $45.0 million from other various external sources.
+Added: Overall, we had $6.12 billion net available liquidity as of September 30, 2023, which consisted of $1.78 billion of net available internal liquidity and $4.33 billion in net available external liquidity.
+Added: Details on our available liquidity as of September 30, 2023 is available below.
(in thousands) Total Available Amount Used Net Availability
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We have continued to limit our exposure to uninsured deposits and have been actively monitoring this exposure in light of the current banking environment.
−Removed: As of June 30, 2023, we held approximately $8.89 billion in uninsured deposits of which $1.21 billion were intercompany subsidiary deposit balances and $2.76 billion were collateralized deposits, for a net position of $4.93 billion.
+Added: As of September 30, 2023, we held approximately $7.95 billion in uninsured deposits of which $568.5 million were intercompany subsidiary deposit balances and $2.65 billion were collateralized deposits, for a net position of $4.73 billion.
This represents approximately 28.7% of total deposits.
In addition, net available liquidity exceeded uninsured and uncollateralized deposits by $1.38 billion.
−Removed: (in thousands) As of June 30, 2023
+Added: (in thousands) As of September 30, 2023
Uninsured Deposits $ 7,952,922
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For the rising and falling interest rate scenarios, the base market interest rate forecast was increased and decreased over twelve months by 200 and 100 basis points, respectively.
−Removed: At June 30, 2023, our net interest margin exposure related to these hypothetical changes in market interest rates was within the current guidelines established by us.
−Removed: Table 24 presents our sensitivity to net interest income as of June 30, 2023.
+Added: At September 30, 2023, our net interest margin exposure related to these hypothetical changes in market interest rates was within the current guidelines established by us.
+Added: Table 24 presents our sensitivity to net interest income as of September 30, 2023.
Sensitivity of Net Interest Income
5 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.