10 unchanged sentences
Interest rate risk exposure is measured using interest rate sensitivity analysis to determine the change in economic value of equity in the event of hypothetical changes in interest rates.
−Removed: If potential changes to net economic value of equity and net interest income resulting from hypothetical interest rate changes are not within the limits established by our board of directors, the board of directors may direct management to adjust the asset and liability mix to bring interest rate risk within board-approved limits.
+Added: If potential changes to net economic value of equity and net interest income resulting from hypothetical interest rate changes are not within the limits established by our Board of Directors, the Board of Directors may direct management to adjust the asset and liability mix to bring interest rate risk within Board of Director-approved limits.
The following presents the sensitivity in net interest income and fair value of equity as of the dates indicated, using a parallel ramp scenario:
−Removed: As of December 31, 2023 As of December 31, 2022
+Added: As of December 31,
Change in Interest Rates (Basis Points) Percent Change
10 unchanged sentences
-200 16.86 2.97 8.27 (5.27)
−Removed: The model simulations as of December 31, 2023 imply that our balance sheet is more liability sensitive compared to our balance sheet as of December 31, 2022.
+Added: The model simulations as of December 31, 2024 imply that our balance sheet maintains a similar interest rate risk profile compared to our balance sheet as of December 31, 2023.
Although the simulation model is useful in identifying potential exposure to interest rate changes, actual results for net interest income and economic value of equity may differ.
1 unchanged sentence
Additionally, the results do not account for actions implemented to manage our interest rate risk exposure.
−Removed: Table of Content s
Impact of Inflation
3 unchanged sentences
Interest rates do not necessarily move in the same direction or magnitude as prices of general goods and services, while other operating expenses can be correlated with the impact of general levels of inflation.
−Removed: Table of Content s
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.