QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: See Management’s discussion and analysis “Interest Rate Sensitivity.”
+Added: See also Management’s discussion and analysis “Interest Rate Sensitivity.”
Market risk refers to potential losses arising from changes in interest rates, and other relevant market rates or prices.
3 unchanged sentences
The policies established by the ALCO are reviewed and approved by the Company’s Board of Directors.
−Removed: The primary goal of interest rate risk management is to control exposure to
−Removed: interest rate risk, within policy limits approved by the Board.
+Added: The primary goal of interest rate risk management is to control exposure to interest rate risk, within policy limits approved by the Board.
These limits reflect the Company’s tolerance for interest rate risk over short-term and long-term horizons.
2 unchanged sentences
The valuation of the balance sheet, at a point in time, is defined as the discounted present value of asset cash flows minus the discounted value of liability cash flows, the net result of which is the EVE.
−Removed: The sensitivity of EVE to changes in the level of interest rates is a measure of the longer-term re-pricing risks and options risks embedded in the balance sheet.
+Added: The sensitivity of EVE to changes in the level of interest rates is a measure of the longer-term re-pricing risks and options risks
+Added: embedded in the balance sheet.
In contrast to the net interest income simulation, which assumes interest rates will change over a period of time, EVE uses instantaneous changes in rates.
12 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.