Risk Factors Update Summary
- Interest rates may increase in 2024. The Federal Open Market Committee may raise rates to 5.50%. This could impact fixed-rate investment securities.
- Interest rate swaps may not fully mitigate risk. Poorly designed strategies or counterparty failures could increase losses.
- Elevated inflation levels could impact loan demand. Continued inflation may affect clients' ability to repay.
- Legal and regulatory risks may increase. Uncertainty around new presidential administrations could impact financial institutions.
- Credit and lending risks exist. Default risk may arise from difficult-to-detect events like fraud or predict catastrophic events.
- Operational risks from cyber-attacks. Increasingly sophisticated methods could lead to unauthorized access and breaches.
- Artificial intelligence risks. Flawed algorithms or controversial data practices could lead to reputational harm or liability.
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=906465&owner=exclude
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