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What changed 10-Q
Item 3. Quantitative and Qualitative Disclosures About Market Risk
2025-05-07 compared with 2024-11-06 · 2 added, 1 removed, 27 unchanged (10% of the section changed)
2 unchanged sentences
Market risk refers to potential losses arising from changes in interest rates, and other relevant market rates or prices.
−Removed: Interest rate risk, defined as the exposure of net interest income and Economic Value of Equity (“EVE”) to adverse movements in interest rates, is the Company’s primary market risk, and mainly arises from the structure of the balance sheet (non-trading activities).
+Added: Interest rate risk, defined as the exposure of net interest income and EVE to adverse movements in interest rates, is the Company’s primary market risk, and mainly arises from the structure of the balance sheet (non-trading activities).
The Company is also exposed to market risk in its investing activities.
19 unchanged sentences
+2.00% (17.7)%
+Added: +1.00% (8.7)%
While an instantaneous and severe shift in interest rates is used in this analysis, a gradual shift in interest rates would have a much more modest impact.
2 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.