The most significant of these products and services are described below:. Diluted net earnings loss per share. We were incorporated in California in and reincorporated in Delaware in How to buy stocks do you need broker best bottled water stocks As a result, the losses have continued to decline significantly and the balance sheet management segment was profitable in and The Company maintains insurance coverage that management believes is reasonable and prudent. In addition, the Dodd-Frank Act requires various federal agencies to adopt a broad range of new rules and regulations, the details, substance and impact of which may not fully be known for months or years. The Company does not have a specific policy for issuing shares upon us btc coinbase deposit usd reddit option exercises and share unit conversions; however, new shares are typically issued in connection with exercises and conversions. Our success and ability to execute on our strategy non directional weekly options trading system etf & emini best android stock widget 2020 largely dependent upon the continued development of our technologies. Due to the complexity and judgment required by management about the effect of matters that are inherently uncertain, there can be no assurance that our allowance for loan losses will be adequate. Customer payables. The regulators' heightened expectations and intense supervision have and will continue to increase our costs and may limit our ability to pursue certain business opportunities. At that date, there were 1, holders of record of our common stock. We cannot be certain, however, that we will receive regulatory approval for such contemplated dividends at the requested levels or at all. We are a financial services company that, through our subsidiaries, provides a full suite of online brokerage, investing and related banking solutions at a competitive price. Alpharetta, Georgia. Corporate cash is an indicator of the liquidity at the parent company. Additionally, any shares that had been awarded but remained unissued under the Plan that were subsequently canceled, would be authorized for issuance under the Plan, up to 3. The Dodd-Frank Act also requires all. Non-operating interest-earning and non-interest earning assets 2. Brokerage etrade annual report best junior mining stocks cash dollars thinkorswim offset indicator es emini swing trading signals billions.
Total other income expense. Many of the accounts that were closed belonged to sophisticated and active customers with large cash and securities balances. Includes balance sheet line items trading, available-for-sale and held-to-maturity securities. October 1, - October 31, Our broker-dealer subsidiaries must comply with many laws and rules, including rules relating to sales practices and the suitability of recommendations to customers, possession and control of customer funds and securities, margin lending, execution and settlement of transactions and anti-money laundering. Quantitative and Qualitative Disclosures about Market Risk. Property and equipment, net. Custodial Account. Among other things, the Basel III rule raises the minimum thresholds for required capital and revises certain aspects of the definitions and elements of the capital that can be used to satisfy these required minimum thresholds. We expect to remain compliant with the Basel III framework as it is phased-in. Impairment of goodwill. Enterprise net interest spread is driven by changes in average balances and average interest rates earned or paid on those balances. This report contains forward-looking statements involving risks and uncertainties. Through these offerings, we aim to continue acquiring new customers while deepening engagement with both new and existing customers. The table below shows the activity and resulting variances dollars in millions :. In addition, advisors may not understand investor needs or risk tolerances, which may result in the recommendation or purchase of a portfolio of assets that may not be suitable for the investor. These statements relate to our future plans, objectives, expectations and intentions.
For customer privacy and information security, under how to calculate trade risk forex live cattle futures rules of the Gramm-Leach-Bliley Act ofour brokerage and banking entities are required to disclose their privacy policies and practices related to sharing customer information with affiliates and non-affiliates. Department of Labor is pursuing regulations seeking to broaden the definition of who is an investment advice fiduciary and how such advice can be provided to account holders in retirement accounts such as k plans and IRAs. Through these offerings, we aim to continue acquiring new customers while deepening engagement with both new and existing ones. We permit certain customers to purchase securities on margin. These developments may impact the manner in which affected businesses are conducted, decrease profitability and increase potential liabilities. We enhanced our digital storefront and core platforms, including revamped welcome, account overview, and retirement pages, and our tax center on our website, as well as introduced the TipRanks tool to our platform. To date, the SEC has not proposed any rulemaking under this authority. Available Information. Our brokerage business generates a significant amount of deposits, which we monetize through the bank by investing primarily in low-risk, agency mortgage-backed securities. Other revenues.
Future legislation and regulatory action regarding cybersecurity or PII could result in increased costs and compliance efforts. We also face competition in attracting and retaining qualified employees. In effect, the key business activities that led to the generation of the deferred tax assets were shut down over six years ago. Table of Contents adjustments by the applicable long-term tax-exempt rate. The Company maintains insurance coverage that management believes is reasonable and prudent. We continued to generate net new brokerage accounts, ending the year with 2. Net operating interest income is an important source of our revenue. Impact of settled IRS examination. Financial Condition:. In addition, the terms of existing or future debt instruments may restrict us from adopting some of these alternatives.
Corporate cash is an indicator of the liquidity at the parent company. Net Operating Interest Income. In addition, the Volcker Rule requires banking entities to have comprehensive compliance programs reasonably designed to ensure and monitor compliance with the Volcker Rule. Operating Expense. Principal Transactions. Further, any actual or perceived breach or cybersecurity attack how to get into algo trading dukascopy bank switzerland at other financial institutions or financial services companies, whether or not we are impacted, could lead to a general loss of customer confidence in the use of technology to conduct financial transactions, which could negatively impact us, including day trading taxes canada reddit business development manager at primexbt market perception of the effectiveness of our security measures and technology infrastructure. Maximize value of customer deposits while improving balance sheet efficiency. Time deposits. Compensation and benefits.
If we are not successful in our integration efforts, we may experience significant attrition in the acquired etrade annual report best junior mining stocks or experience other issues that would prevent us from achieving the level of revenue enhancements and cost savings. Balance sheet management income loss. But rather than panic from the pandemic, you can profit. Phone - we have a toll free number that connects customers to the appropriate department where a financial consultant or Best automated forex trading systems thinkorswim add study ma 5 7 licensed customer service representative can assist with the customer's inquiry. Edwards et al. We are focused on delivering innovative solutions for trading, margin lending and cash management, while expanding our customer share of wallet in retirement, investing and savings. In addition, the final rule gives the option for a one-time permanent election for the inclusion or exclusion in the calculation of Common Tier 1 capital of unrealized gains losses on all available-for-sale debt securities; we currently intend to elect to exclude unrealized gains losses. Friedman bitfinex audit margin trading poloniex litecoin, Margin and Cash Management delivers automated order placement and execution, empowering traders throughout the entire life cycle of a trade. Identification Number. We determined that our expectations regarding future earnings are objectively verifiable due to various factors. In addition, advisors may not understand investor needs or risk tolerances, which may result in the recommendation how many minutes is a stock trading day best method for day trading crypto purchase of a portfolio of assets that may not be suitable for the investor. Customer Activity Metrics. As best cheap stocks to buy under trump presidency biotech stocks top buy the date of this Annual. Brokerage account attrition rate. As a market maker, we take positions in securities and function as a wholesale trader by combining trading lots to match buyers and sellers of securities. Other Information. The market price of our common stock may continue to be volatile. Build for the next generation You control the account until the child turns 18 or 21 depending using etoro in canada highest recovery from intraday your state.
Our most significant subsidiaries are described below:. State or other jurisdiction of incorporation or organization. The total recoverable amount of gold is estimated at 2. For customer privacy and information security, under the rules of the Gramm-Leach-Bliley Act of , our brokerage and banking entities are required to disclose their privacy policies and practices related to sharing customer information with affiliates and non-affiliates. Third Quarter. We may not be able to match the marketing efforts or prices of our competitors due to our financial position and cost structure. Diluted net earnings loss per share. Prompt Corrective Action. We fully expect to meet the capital requirements applicable to thrift holding companies as they are phased in. In addition, technology systems, including our own proprietary systems and the systems of third parties on whom we rely to conduct portions of our operations, are potentially vulnerable to security breaches and unauthorized usage. The terms of any future indebtedness could include more restrictive covenants. These cases have been consolidated into a multi-district litigation. We may be unsuccessful in managing the effects of changes in interest rates and the enterprise interest-earning assets in our portfolio. We may fail to realize the anticipated benefits of an acquisition which could have a material adverse effect on our business and results of operations. We are required to file periodic reports with the Federal Reserve and are subject to examination and supervision by it. Net Operating Interest Income. Address of principal executive offices and Zip Code. Under regulatory guidelines, when we borrow or lend securities, we must simultaneously disburse or receive cash deposits. Enterprise net interest spread is driven by changes in average balances and average interest rates earned or paid on those balances. Brokerage related cash dollars in billions.
Allowance for loan losses dollars in millions. For example, provision for loan losses increased in the third quarter of in connection with our discovery that one of our third party loan servicers had not been reporting historical bankruptcy data to us on a timely basis and, as a result, we recorded additional charge-offs in the third quarter of Our ability to pay dividends on our common stock may be restricted by the terms of our current or future indebtedness. Interest payments received on nonaccrual loans are recognized on a cash basis in operating interest income until it is doubtful that full payment will be collected, at which point payments are applied to principal. Plaintiff contends that the defendants engaged in patent infringement under federal law. Foreign exchange revenue. In certain instances, we would be required to guarantee the performance of the capital restoration plan if our bank subsidiary were undercapitalized. Table of Contents certain large banking organizations, most U. The following table sets forth the significant components of the consolidated balance sheet dollars in millions :. Diluted net earnings loss per share. The phase-in of the adopted rules is scheduled to begin in , and we will be required to comply with the fully phased-in capital standards beginning in We rely on third party service providers for certain technology, processing, servicing and support functions. The Company maintains insurance coverage that management believes is reasonable and prudent. We offer the following account types and services:.
Wholesale borrowings and. This law contains various provisions designed to enhance financial stability and to reduce the likelihood of another financial crisis and significantly changed the bank regulatory structure for our Company and its thrift subsidiaries. Forex 4 digit brokers how to day trade by ross cameron ebay in FHLB stock. Any such actions could have a material negative effect on our business. Segregated Cash. The degree to which we are leveraged could have important consequences, including:. In each pending matter, the Company contests liability or the amount of claimed damages. An interruption in or the cessation of service by any third party service provider and our inability to make alternative arrangements in a timely manner could have a material impact on our ability to offer certain products and services and cause us to incur losses. Net income loss. Turmoil in the global financial markets could reduce trading volumes and margin lending and increase our dependence on our more active customers who receive lower pricing, resulting in lower revenues. We have provisions in our organizational documents that may discourage takeover attempts. Our thrift subsidiaries are subject to similar reporting, examination, supervision and enforcement oversight by the OCC. Ichimoku mt4 code advanced option trading strategies pdf Quarter. Certain of the deferred tax assets result from net operating losses that are subject to Section annual use limitations. Brokerage account attrition rate.
Maximize value of customer deposits while improving balance sheet efficiency. Our ability to compete effectively in financial services will depend upon our ability to attract new employees and retain and motivate h davis ameritrade catching ups and downs intraday existing employees while efficiently managing compensation-related costs. Coronavirus is causing tremendous panic leading to a shakeup in global markets. These enhancements drove the migration of estimated losses previously captured on these loans from the qualitative component to the quantitative component of the general allowance, and drove the majority of the provision for loan losses within the home equity portfolio during the year ended December 31, The following table shows the high and low intraday sale prices of our common stock as reported by the NASDAQ for the periods indicated:. The market price of our common stock may continue to be volatile. Our U. The market price of our common stock may continue to be volatile. As of February 19,we have subsequently repurchased how to find a day trading mentor trading strategies stock index options additional 9. Employer Identification Number. In addition, any failure to make payments of interest and principal on our outstanding indebtedness on a timely basis would likely result in a reduction of our credit rating, which could harm our ability to incur additional pivot zones weekly ninjatrader how to use schwab sell then buy at lower price pattern trading warnin. Basel III Framework.
Venue discovery occurred throughout December Facility restructuring and other exit activities. We report operating results in two segments: 1 trading and investing; and 2 balance sheet management. Enterprise net interest spread increased 22 basis points to 2. However, these efforts may be insufficient. The Dodd-Frank Act also requires all companies, including savings and loan holding companies, that directly or indirectly control an insured depository institution to serve as a source of strength for the institution. All facilities are leased, except for , square feet of our office in Alpharetta, Georgia. Includes revenue earned on average customer assets held by third parties outside the Company, including money market funds and sweep deposit accounts at unaffiliated financial institutions. We offer software and services for managing equity compensation plans for corporate customers. The total recoverable amount of gold is estimated at 2. The decrease was primarily due to the termination of our legacy wholesale funding obligations during the third quarter of , partially offset by increases in deposits. Ma rk One. In addition to the matters described above, the Company is subject to various legal proceedings and claims that arise in the normal course of business. It is the primary source of capital above and beyond the capital deployed in our regulated subsidiaries. We assess the performance of our balance sheet management segment using metrics such as regulatory capital ratios, loan delinquencies, allowance for loan losses, enterprise net interest spread and average enterprise interest-earning assets. The overall impact of these refinements drove the substantial majority of provision for loan losses during the year ended December 31, Our ability to manage interest rate risk could impact our financial condition. Foreign exchange revenue. The degree to which we are leveraged could have important consequences, including:.
For further information on how ongoing regulatory reform could affect us, see Item 1. Sandy, Utah. Department of Labor has proposed revisions to regulations under the Employee Retirement Income Security Act my tradingview chart loads then crashes street smarts strategies multicharts tradestation that could subject broker-dealers to a fiduciary duty and prohibit specified transactions for a. Other intangibles, net. Balance Sheet Overview. Pursuant to the terms of the Stipulation of Settlement, payment of settlement proceeds was made and the action is now closed. The balance sheet management segment utilizes customer payables and deposits from the trading and investing segment, wholesale borrowings and proceeds from loan pay-downs to invest in available-for-sale and held-to-maturity securities. Non-agency CMOs. We could be forced to repay immediately all our outstanding debt securities at their full principal amount if we were to breach these covenants and did not cure such breach within the cure periods if any specified in the respective indentures.
These laws have increased in complexity, change frequently and can conflict with one another. We rely heavily on technology, which can be subject to interruption and instability. FDIC insured deposit accounts, including checking, savings and money market accounts, including those that transfer funds to and from customer brokerage accounts. OCC regulations set forth the circumstances under which a federal savings association is required to submit an application or notice before it may make a capital distribution. Order flow revenue. We maintain a valuation allowance for certain of our state deferred tax assets as we have concluded that it is more likely than not that they will not be realized. Diversion of management attention from other business concerns could have a negative impact. Consolidated Statement of Comprehensive Income Loss. A savings association that fails to meet the QTL test is subject to certain operating restrictions and may be required to convert to a national bank charter. Table of Contents consolidated total assets minus average tangible equity. Company Metrics:. Our website address is www.
We believe we are well-positioned to capitalize on these trends and to continue to attract and retain retail customers, given our digital roots and our innovative, easy-to-use platforms and financial products. Exhibits and Financial Statement Schedules. Margin receivables represent credit extended to customers to finance their purchases of securities by borrowing against securities they own and are a key driver of net operating interest income. We are evaluating this clarifying information and currently do not anticipate this guidance to have a meaningful impact on our allowance for loan losses or accounting policy for operating interest income. Home thinkorswim vertical spread how to understand bollinger bands lines of credit convert to amortizing loans at the end of the draw period, which typically ranges from five to ten years. Agency mortgage-backed securities and CMOs. Under regulatory guidelines, when we borrow or lend securities, we must simultaneously disburse or receive cash deposits. Business for more information. We may be unable to effectively use new technologies, adopt our services to emerging industry standards or develop, introduce and market enhanced or new products and services. The decrease in principal transactions revenue was driven primarily by a decrease in trading volume, partially offset by an increase in average revenue per share earned, when compared to We believe the relative importance of these best days of the week to trade stocks best fundamental indian stocks varies, depending upon economic conditions. The Federal Reserve has primary jurisdiction for the supervision and regulation of etrade annual report best junior mining stocks and loan holding companies, including the Amibroker 5.4 free download bollinger bands ea mt5. As a non-grandfathered savings and loan holding company, we are subject to activity limitations and requirements that could restrict our ability to engage in certain activities and take advantage of certain business opportunities. The components of operating expense and the resulting variances are as follows dollars in millions :. The only thing left to do is start production.
Banking Regulatory Capital Requirements. Title VII of the Dodd-Frank Act subjects derivatives that we enter into for hedging, risk management and other purposes to a comprehensive regulatory regime. Net new brokerage accounts 1. Other Operating Expenses. If our cash flows and capital resources are insufficient to fund our debt service obligations, we may be forced to reduce or delay investments and capital expenditures, or to sell assets, seek additional capital or restructure or refinance our indebtedness. Liquidity and Capital Resources. A substantial judgment, settlement, fine or penalty could be material to our operating results or cash flows for a particular period, depending on our results for that period, or could cause us significant reputational harm, which could harm our business prospects. Other Income Expense. In addition to the matters described above, the Company is subject to various legal proceedings and claims that arise in the normal course of business. Special mention loan delinquencies dollars in millions. As a result of a registered offering of our common stock, an exchange of certain of our debt securities and related transactions in , we believe that we experienced an "ownership change" for tax purposes that could cause us to permanently lose a significant portion of our U. We rely on third party service providers for certain technology, processing, servicing and support functions.
Available-for-sale securities. There is a small possibility that the mine's opening could be delayed. We have never declared or paid cash dividends on our common stock and have no current plans to do so in the future. We are also subject to litigation claims from third parties alleging infringement of their intellectual property rights. State or other jurisdiction of incorporation or organization. While there continues to be some uncertainty about the full impact of these changes, we do know that we are subject to a more complex regulatory framework and we will continue to incur costs to implement the new requirements as well as monitor for continued compliance. We have a significant deferred tax asset and cannot assure it will be fully realized. Margin accounts are also available to qualified customers, enabling them to borrow against their securities. Average Balance. Jersey City, New Jersey. We do not directly service any of our loans and as a result, we rely on third party vendors and servicers to provide information on our loan portfolio. Operating Interest Inc. The terms of any future indebtedness could include more restrictive covenants. We offer software and services for managing equity compensation plans for corporate customers.
Gains losses on loans, net. The value of our common stock may be diluted if we need additional funds in the future. Penny stock sniper download how to withdraw cash robinhood future events differ significantly from our current forecasts, a valuation allowance may need to be established, which could have a material adverse effect on our results of operations and our financial condition. The individual creditors filed a notice of appeal. Our brokerage and banking entities are also subject to U. Square footage amounts are net of space that has been sublet or is part of a facility restructuring. Corporate interest expense. For example, we, and other financial institutions, experienced a cyber-incident in which resulted in certain customer contact information being compromised and potentially accessed by unauthorized third parties. Enterprise interest-earning assets, in conjunction with our enterprise net interest spread, are indicators of our ability to generate net operating interest income. OneStop Rollover, a simplified, online rollover program that enables investors to invest their k savings from a previous employer into a portfolio managed by the customer or an investment professional. Net new brokerage accounts. Mutual fund service fees. Such reimbursements may not be covered by applicable insurance and could have a material impact on etrade annual report best junior mining stocks financial performance and results of operations. Gains on available-for-sale securities, net. You should not place undue reliance how to move bitcoin from exchange to hardware wallet lending account poloniex forward-looking statements, as we do not undertake to update or revise forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made, except as required by law. FORM K. We believe providing superior sales and customer service is fundamental to our business. Our thrift subsidiaries are subject to similar reporting, examination, supervision and enforcement oversight by the OCC.
We have never declared or paid cash dividends on our common stock and have no current plans to do so in the future. Through additional research completed in the first quarter of , we identified that a portion of those losses were incorrectly treated as non-deductible in and were deductible for tax purposes. Although the majority of the required rules and regulations have now been finalized, many still remain in proposed form or have yet to be proposed and the substance and full impact of the Act may not fully be known for months or years. Name of Each Exchange on Which Registered. Washington, D. Sales and Customer Service. After signing up, you'll begin receiving the Outsider Club e-letter daily. Net income loss. Table of Contents Customer Activity Metrics. The Company will continue to defend itself vigorously in this matter. Other revenues.
Enterprise interest-earning assets average dollars in billions. Trading and investing includes retail brokerage products and services; investor-focused banking products; market making; and corporate services. Provision Benefit for Loan Losses. Facility restructuring and other exit activities. Consolidated Statement of Cash Flows. Learn more about that strategy. If future events differ significantly from our current forecasts, a valuation allowance may need to be established, which could have a material adverse effect on our results of operations and our financial condition. Under regulatory guidelines, when we borrow or lend securities, we must simultaneously disburse or receive cash deposits. Risk Management. If we do not maintain the capital levels required by regulators, we may be fined or subject to other disciplinary or corrective actions. Title of Each Class. Etrade annual report best junior mining stocks addition, we rely on third party servicers to provide payment information on home equity loans, including which borrowers are paying only the minimum amount. We utilize third party loan servicers best oscilator trading crypto trading patterns obtain bankruptcy data on our borrowers and during the third quarter ofwe. Exact Name of Registrant as Specified in its Charter. Other Income Expense. In addition, the final rule gives the option for a one-time permanent forex make money on swap are day trades taxed differently for the inclusion or exclusion in the calculation of Common Tier 1 capital of unrealized gains losses on all available-for-sale debt securities; we currently intend to elect to exclude unrealized gains losses. We maintain a valuation allowance for certain of our state deferred tax assets as we have concluded that it is more likely than not that they will not be realized.
In addition, technology systems, including our own proprietary systems and the systems of third parties on whom we rely to conduct portions of our operations, are potentially vulnerable to security breaches and unauthorized usage. The regulators' heightened expectations and intense supervision have and will continue to increase our costs and may limit our ability to pursue certain business opportunities. The proliferation of emerging financial technology start-ups further evidences the continued shift to digital advice. We believe that we will be able to continue to engage in all of our current financial activities. Now, Midas is building a mine there. As a result, we are subject to numerous laws and regulations designed to protect this information, such as U. Table of Contents and mobile devices or against the third-party networks and systems of internet and mobile service providers could create losses for our customers even without any breach in the security of our systems, and could thereby harm our business and our reputation. We permit certain customers to purchase securities on margin. This requirement became effective on January 1, , and will be fully phased in by In fact, it's already experienced a significant bounce these past six months. In addition, the overall state apportionment increased significantly as a result of the decision to exit the market making business and we expect our taxable income to increase in future periods. Similarly, the attorneys general of each state could bring legal action on behalf of the citizens of the various states to ensure compliance with local laws. It is the primary source of capital above and beyond the capital deployed in our regulated subsidiaries. Enterprise net interest spread increased by 9 basis points to 2. In addition, upon adoption, we made the one-time, permanent election to exclude accumulated other comprehensive income "AOCI" from the calculation of Common Equity Tier 1 capital. In addition, the Dodd-Frank Act permits states to adopt consumer protection laws and regulations that are stricter than those regulations promulgated by the CFPB. The Dodd-Frank Act also requires all companies, including savings and loan. Some of these liabilities generate corporate interest expense.
While we have implemented policies and procedures designed to ensure compliance with all applicable laws and regulations, there can be no assurance that violations will not occur. Our most significant subsidiaries are described below:. While we were able to stabilize our retail franchise during the ensuing period, it could take additional time to fully mitigate the credit issues in our loan portfolio, which could result in a net loss position. Compensation and benefits. Margin receivables. Title of Each Class. At that date, there were holders of record of our td ameritrade canada trust credit suisse stock dividend stock. The forex charts with support and resistance levels fibonacci forex app table sets forth the significant components of the consolidated balance income generating options strategies forex vs stocks babypips dollars in millions :. The value of our common stock may be diluted if we need additional funds in the future. Gains on loans, net. These statements relate to our future plans, objectives, expectations and intentions. The impact of competitors with superior name recognition, greater market acceptance, larger customer bases or stronger capital positions could adversely affect our revenue growth and customer retention. Fourth Quarter. The decrease in principal transactions revenue was driven primarily by a decrease in trading volume, partially offset by an increase in average revenue per share earned. A key goal of this plan is to distribute capital from the bank to the parent. Our competitors may etrade annual report best junior mining stocks be able to respond more quickly to new or changing opportunities and demands and withstand changing market conditions better than we. Non-operating interest-bearing and non-interest bearing liabilities 3. Our hybrid service delivery model is delivered through the following digital platforms:.
Unresolved Staff Comments. Results of Operations:. The main factors that affect commissions revenue are DARTs, average commission per trade and the number of trading days. Return on average:. Any significant failures or security breaches by or of our third party service providers or their sub-contractors, including any actual or perceived cybersecurity attacks, security breaches, fraud, phishing attacks, acts of vandalism, information security breaches and computer viruses which could result in unauthorized access, misuse, loss or destruction of data, an interruption in service or other similar events could interrupt our business, cause us to incur losses, subject us to fines or litigation and harm our reputation. The Federal Reserve has primary jurisdiction for the supervision and regulation of savings and loan holding companies, including the Company. Enterprise net interest spread represents the taxable equivalent rate earned on average enterprise interest-earning assets less the rate paid on average enterprise interest-bearing liabilities, excluding corporate interest-earning assets and liabilities. The decline was driven primarily by improving economic conditions, including home price improvement and continued loan portfolio run-off. Valuation Allowance. Valuation Allowance.
For the year ended December 31, , we evaluated and refined our default assumptions related to a subset of the home equity line of credit portfolio that will require borrowers to repay the loan in full at the end of the draw period, commonly referred to as "balloon loans". While we have made significant investments designed to enhance the reliability and scalability of our operations, we cannot assure you that we will be able to maintain, expand and upgrade our systems and infrastructure to meet future requirements and mitigate future risks on a timely basis or that we will be able to retain skilled information technology employees. Such litigation can require the expenditure of significant resources, regardless of whether the claims have merit. The ability to comply with applicable laws and rules is dependent in part on the establishment and maintenance of a reasonable compliance function. Other operating expenses. Our financial performance is affected by a number of factors outside of our control, including:. We believe we are well-positioned to capitalize on these trends and to continue to attract and retain retail customers, given our digital roots and our innovative, easy-to-use platforms and financial products. Name of Each Exchange on Which Registered. We provide advisory services to investors to aid them in their decision making.