22 unchanged sentences
A key element of our asset/liability management plan is to protect net earnings by managing the maturity or re-pricing mismatch between our interest-earning assets and our rate-sensitive liabilities.
−Removed: We seek to reduce exposure to earnings by
−Removed: Table of Conten t s
−Removed: extending funding maturities through the use of FHLB advances, through the use of adjustable-rate loans and through the sale of certain fixed-rate loans in the secondary market.
+Added: We seek to reduce exposure to earnings by extending funding maturities through the use of FHLB advances, through the use of adjustable-rate loans and through the sale of certain fixed-rate loans in the secondary market.
As part of our efforts to monitor and manage interest-rate risk, we maintain an interest-rate risk model and utilize software and resources provided by a third party.
4 unchanged sentences
EVE values only the current position of the balance sheet at December 31, 2021, and therefore does not incorporate any new business assumptions that might be inherent in a simulation of net interest income.
−Removed: The following table projections assume instantaneous parallel shifts upward of the yield curve of 100, 200, 300 and 400 basis points and downward of the yield curve 100, 200, 300, and 400 basis points (assuming the shift does not result in negative interest rates) occurring immediately.
−Removed: Given that the targeted Federal Funds Rate at December 31, 2020 was 0.09%, and the EVE model does not allow for negative interest rates, the downward shifts of 100- through 400-basis points are not reported.
+Added: Our projections generally assume instantaneous parallel shifts upward of the yield curve of 100, 200, 300 and 400 basis points and downward of the yield curve 100, 200, 300, and 400 basis points (assuming the shift does not result in negative interest rates) occurring immediately.
+Added: Given that the targeted Federal Funds Rate at December 31, 2021 was 0.07%, and the EVE model does not allow for negative interest rates, the downward shifts of 100- through 400-basis points are not reported in the table below.
Management and the Board of Directors review these measurements on a quarterly basis to determine whether our interest-rate exposure is within the limits established by the Board of Directors.
24 unchanged sentences
We consider all of these factors in monitoring our exposure to interest rate risk.
−Removed: Table of Conten t 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.