20. Exhibit 22.5 Average Duration of Assets Versus Liabilities a a T ime 0.0 Dec March June Sept Dec March June Sept Dec March 1.0 1.5 2.0 2.5 2000 1999 1998 2001 Assets Liabilities
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24. Exhibit 22.6 Framework for Valuing a Savings Institution Economic Growth Expected Cash Flows to Be Generated by the Commercial Bank Required Return by Investors Who Invest in the Commercial Bank Inflation Money Supply Budget Deficit Risk-Free Interest Rate Risk Premium on the Commercial Bank Value of the Commercial Bank Abilities of the Savings Institution’s Managers Industry Conditions (such as Regulations, Technology , and Competition)