Risk Factors Update Summary
- Addition of "residential and commercial property" to risk factors, expanding exposure to property market risks.
- Introduction of risks related to new products and services, potentially impacting profitability and regulatory requirements.
- Inclusion of "export controls" as a risk factor, impacting demand for financial products.
- Notable rise in inflation in 2023, despite multiple increases, leading to increased pressure on the Federal Reserve.
- Increased focus on geopolitical tensions, including Russia's invasion of Ukraine, affecting global supply chains.
- Concerns about geopolitical tensions leading to economic uncertainty, inflationary pressures, and market disruptions.
- Mention of "transition risks" related to climate change, potentially increasing credit risk and reducing demand.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1069157&owner=exclude
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