What changed in this filing

/stocks — the workspaceLOADING

Item 3. Quantitative and Qualitative Disclosures About Market Risk

2022-10-28 compared with 2022-08-05 · 21 added, 23 removed, 351 unchanged (11% of the section changed)

23 unchanged sentences

of our securities

and the value

that constitute

our investment

10 unchanged sentences

These instruments

as an economic

hedge against

92 unchanged sentences

rate-sensitive

rates instantaneously

convexity, which

as of September

assuming rates

instantaneously

fall 200 bps,

fall 100 bps,

bps, adjusted

of convexity, which

is the measure

of the sensitivity

positions and

effective duration

RMBS’ effective

have a negatively

slightly positively

(short positions).

5 unchanged sentences

assumes interest

as of September

Actual results

17 unchanged sentences

Change in Interest Rate

As of June 30, 2022

As of September 30, 2022

-200 Basis Points

31 unchanged sentences

portfolio value

expressed as a

the total fair

investment portfolio

as of such date.

fair value of

our investment

of such date.

Estimated dollar

36 unchanged sentences

thus affecting

income by altering

market spread

1 unchanged sentence

on our Agency

interest rates,

of our Agency

15 unchanged sentences

against moves

net book value

against spread

2 unchanged sentences

secure repurchase

had unrestricted

cash and cash

of approximately

$14.7 million

(not including

or securities

to us) available

to meet margin

us) available

on our repurchase

and derivative

and for other

However, should

of our Agency

as collateral

of our derivative

3 unchanged sentences

could increase,

adverse change

our liquidity

Further, there

2 unchanged sentences

our repurchase

counterparties

our counterparties

haircuts (margin

9 unchanged sentences

assets, especially

if correlated

price declines

7 unchanged sentences

we use futures

contracts and

and swaptions

61 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.

What changed 10-Q

Item 3. Quantitative and Qualitative Disclosures About Market Risk