2025 Regulatory Summit

Internal Use Only

Interest Rate Risk

Impacts to banks • Impacts refinancing loans • Impacts liquidity • Impacts OACI adjust ments • CMBS alone is - $126B • All securities -$395B

Internal Use Only

Interest Rate Risk – All Banks Fair Value Average Adjustment 2015 thru 2021 averaged +$3.1B. The average adjustment since 1Q2022 is minus $77B.