Date of Report (Date of Earliest Event Reported): | July 14, 2015 |
Federally chartered corporation | 000-52004 | 48-0561319 |
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) |
One Security Benefit Pl. Suite 100 Topeka, KS | 66606 | |
(Address of principal executive offices) | (Zip Code) |
Federal Home Loan Bank of Topeka | |
July 20, 2015 | /s/ Patrick C. Doran |
Date | Patrick C. Doran |
SVP, General Counsel | |
Exhibit No. | Description |
10.1 | 2012 Executive Incentive Compensation Plan Targets, revised June 19, 2015. |
10.2 | 2013 Executive Incentive Compensation Plan Targets, revised June 19, 2015. |
10.3 | 2014 Executive Incentive Compensation Plan Targets, revised June 19, 2015. |
10.4 | 2015 Executive Incentive Compensation Plan Targets, revised June 19, 2015. |
A. | Total Base Opportunity Goal Metrics. The following goal metrics are assigned to the Participants under the Plan. All calculations including interest rates will be rounded to two decimal places. |
1. | Adjusted Return Spread on Class B Common Stock |
• | Definition: The spread between Pre-ASC 815 (formerly referred to as SFAS 133), Pre AHP adjusted return available for Class B Common Stock (weighted by the amount Class B Common Stock outstanding each day) and the weighted average daily Overnight Federal funds effective rate (Fed Effective). |
• | Measure: Pre-ASC 815, AHP adjusted return available for Class B Common Stock (using core income as defined below), less earnings attributed to Class A Common Stock (defined as the sum of the daily amounts calculated by multiplying the outstanding Class A Common Stock times Fed Effective plus 0.84 percent for each day), relative to average Class B Common Stock outstanding for the period as a spread over the Fed Effective for the period. |
◦ | Net income calculated under generally accepted accounting principles (GAAP) |
◦ | Plus AHP assessments |
◦ | Excluding the impact or adjustment required because of Accounting Standards Codification 815 (ASC 815) |
◦ | Plus dividends on redeemable Class A and Class B Common Stock treated as interest expense under Statement of Financial Accounting Standards No. 150 |
◦ | Minus prepayment fees |
◦ | Minus/plus realized or unrealized gains/losses on securities (excludes any charges for other-than-temporary impairment of securities) |
◦ | Minus/plus gains/losses on early retirement of debt and related derivatives |
◦ | Minus/plus any amortization/accretion of premium/discount on unswapped mortgage-backed securities in the FHLBank’s trading portfolio (not amortized/accreted under GAAP) |
• | Performance Range: |
Annual Performance Range | |
Threshold | 5.73% |
Target | 9.84% |
Optimum | 13.96% |
2. | Net Income after Capital Charge |
• | Definition: The dollar amount of adjusted income as defined in the above metric, but Post-AHP assessment, which exceeds the cost of the required return on capital. |
• | Measure: Adjusted income as defined in the Net Income after Capital Charge Definition above, less required return on all capital. The required return on capital is the sum of the outstanding Class B Common Stock times three-month LIBOR plus 1.00 percent for each day during the year plus the sum of all other capital (regulatory for Class A Common Stock and GAAP for retained earnings and other comprehensive income) times three-month LIBOR for each day during the year. |
• | Performance Range: |
Annual Performance Range | |
Threshold | $26,631,425 |
Target | $53,262,850 |
Optimum | $79,894,275 |
3. | Retained Earnings |
• | Measure: Retained earnings as defined above as reported on the 12/31/12 balance sheet. |
• | Performance Ranges: |
Annual Performance Range | |
Threshold | $404,426,667 |
Target | $445,961,018 |
Optimum | $487,495,369 |
4. | Mission Product Utilization |
• | Definition: Member usage of mission-oriented products. Mission-oriented products consist of the following: |
◦ | Affordable Housing Program (AHP); |
◦ | CICA - Community Housing Program (CHP); CHP Plus; Community Development Program (CDP); and Housing and Community Development Emergency Loan Program (HELP) |
◦ | Homeownership Set-aside Programs (RFHP or TOP); and |
◦ | Joint Opportunities for Building Success (JOBS). |
• | Measure: Calculate the number of FHLBank members at the time of mission product usage that qualify as a user of a product (as defined below following each product) at any time during the current calendar year. For purposes of calculating the number of qualifying users a member is counted only once within each mission-oriented product category. Program participation use is credited and remains credited for the entire calendar year irrespective of whether the participating member is subsequently acquired, merged or otherwise terminates FHLBank membership. |
• | Mission-oriented Product Category Usage Definitions |
◦ | AHP - Applications submitted. Applications submitted by a member but subsequently deemed to be ineligible by FHLBank will be counted as a qualified use. |
◦ | CICA - Applications approved. |
◦ | Homeownership Set-aside Programs (RFHP or TOP) - Agreements submitted. |
◦ | JOBS - Applications submitted. |
• | Performance Range: |
Annual Performance Range | |
Threshold | 300 |
Target | 350 |
Optimum | 400 |
• | Performance Ranges |
Weighted Average Score | Payout |
5 (superior) | 150% |
4 (highly successful) | 125% |
3 (successful) | 100% |
2.5 (moderately successful) | 50% |
2 (marginally successful) | 0% |
1 (unsuccessful) | 0% |
• | Risk Management Metric Weights: The following metric weight for each goal metric is assigned to the Participants: |
Risk Management Area | Weighting |
Liquidity Risk | 30% |
Market Risk | 40% |
Credit Risk | 30% |
Total | 100% |
• | Performance Ranges |
Weighted Average Score | Payout |
5 (superior) | 150% |
4 (highly successful) | 125% |
3 (successful) | 100% |
2.5 (moderately successful) | 50% |
2 (marginally successful) | 0% |
1 (unsuccessful) | 0% |
• | Risk Management Metric Weights: The following metric weight for each goal metric is assigned to the Participants: |
Risk Management Area | Weighting |
Compliance Risk | 30% |
Business Risk | 40% |
Operations Risk | 30% |
Total | 100% |
B. | Deferred Incentive Goal Metrics. |
Minimum | Threshold | Target | Maximum | |
Total Return(1) | >8/12 vs FHLBanks | 8/12 vs FHLBanks | 5/12 vs FHLBanks | 2/12 or 1/12 vs FHLBanks |
Deferred Incentive | ||||
Performance Measure Percentage | 0% | 75% | 100% | 125% |
Weighting | 0.375 | 0.375 | 0.375 | 0.375 |
Dollar Value (Deferred Incentive x Performance Measure Percentage x Weight) | $ | $ | $ | $ |
Expense Growth(2) | >9/12 vs FHLBanks | 9/12 vs FHLBanks | 6/12 vs FHLBanks | 2/12 or 1/12 vs FHLBanks |
Deferred Incentive | ||||
Performance Measure Percentage | 0% | 75% | 100% | 125% |
Weighting | 0.25 | 0.25 | 0.25 | 0.25 |
Dollar Value (Deferred Incentive x Performance Measure Percentage x Weight) | $ | $ | $ | $ |
Market Value of Equity (MVE) / Total Regulatory Capital Stock (TRCS)(3) | >9/12 vs FHLBanks | 9/12 vs FHLBanks | 6/12 vs FHLBanks | 2/12 or 1/12 vs FHLBanks |
Deferred Incentive | ||||
Performance Measure Percentage | 0% | 75% | 100% | 125% |
Weighting | 0.375 | 0.375 | 0.375 | 0.375 |
Dollar Value (Deferred Incentive x Performance Measure Percentage x Weight) | $ | $ | $ | $ |
Total Value (Dollar Value for Total Return + Dollar Value for Expense Growth + Dollar Value for MVE/TRCS) | $ | $ | $ | $ |
Base Award Opportunity Percentage Level I (40%) Level II (32.5%) Level III (25%) | % | % | % | % |
Total Base Award (Total Value x Base Award Opportunity Percentage) | $ | $ | $ | $ |
C. | Total Base Opportunity and Participant Levels. |
Participant | Total Base Opportunity | Cash Incentive | Deferred Incentive Opportunity * | ||||||
Thresh | Target | Max | Thresh | Target | Max | Thresh | Target | Max | |
Level 1 | |||||||||
CEO | 60 | 80 | 100 | 30 | 40 | 50 | 30 | 40 | 50 |
Level 2 | |||||||||
COO | 45 | 65 | 85 | 22.5 | 32.5 | 42.5 | 22.5 | 32.5 | 42.5 |
Level 3 | |||||||||
CRO | 30 | 50 | 70 | 15 | 25 | 35 | 15 | 25 | 35 |
General Counsel | 30 | 50 | 70 | 15 | 25 | 35 | 15 | 25 | 35 |
CFO | 30 | 50 | 70 | 15 | 25 | 35 | 15 | 25 | 35 |
Objective | CEO/COO/CFO | CRO | General Counsel |
1. Adjusted Return Spread on Class B Common Stock | 20% | 10% | 15% |
2. Net Income after Capital Charge | 20% | 10% | 15% |
3. Retained Earnings | 10% | 20% | 10% |
4. Mission Product Utilization | 10% | 10% | 10% |
5. Risk Management- Market, Credit, Liquidity | 20% | 20% | 20% |
6. Risk Management- Compliance, Business, Operations | 20% | 30% | 30% |
Total | 100% | 100% | 100% |
A. | 2013 Base Performance Period Metrics. The following goal metrics are assigned to the Participants under the Plan. All calculations including interest rates will be rounded to two decimal places. |
1. | Adjusted Return Spread on Class B Common Stock |
• | Definition: The spread between Pre-ASC 815 (formerly referred to as SFAS 133), Pre AHP adjusted return available for Class B Common Stock (weighted by the amount Class B Common Stock outstanding each day) and the average daily Overnight Federal funds effective rate (Fed Effective). |
• | Measure: Pre-ASC 815, AHP adjusted return available for Class B Common Stock (using adjusted income as defined below), less earnings attributed to Class A Common Stock (defined as the sum of the daily amounts calculated by multiplying the outstanding Class A Common Stock times Fed Effective plus 0.76 percent for each day), relative to average Class B Common Stock outstanding for the period as a spread over the Fed Effective for the period. |
◦ | Net income calculated under generally accepted accounting principles (GAAP) |
◦ | Plus AHP assessments |
◦ | Excluding the impact or adjustment required because of Accounting Standards Codification 815 (ASC 815) |
◦ | Plus dividends on redeemable Class A and Class B Common Stock treated as interest expense under Statement of Financial Accounting Standards No. 150 |
◦ | Minus prepayment fees |
◦ | Minus/plus realized or unrealized gains/losses on securities (excludes any charges for other-than-temporary impairment of securities) |
◦ | Minus/plus gains/losses on early retirement of debt and related derivatives |
◦ | Minus/plus any amortization/accretion of premium/discount on unswapped mortgage-backed securities in the FHLBank’s trading portfolio (not amortized/accreted under GAAP) |
• | Performance Range: |
Annual Performance Range | |
Threshold | 6.24% |
Target | 11.28% |
Optimum | 16.32% |
• | Definition: The dollar amount of adjusted income as defined in the above metric, but Post-AHP assessment, which exceeds the cost of the required return on capital. |
• | Measure: Adjusted income as defined in the Net Income after Capital Charge Definition above, less required return on all capital. The required return on capital is the sum of the outstanding regulatory Class B Common Stock times the average of three-month LIBOR plus 1.00 percent for each day during the year plus the sum of all other capital (regulatory for Class A Common Stock and GAAP for retained earnings and other comprehensive income) times the average of three-month LIBOR for each day during the year. |
• | Performance Range: |
Annual Performance Range | |
Threshold | $39,780,680 |
Target | $79,561,359 |
Optimum | $119,342,039 |
3. | Retained Earnings |
• | Measure: Retained earnings as defined above as reported on the 12/31/2013 balance sheet. |
• | Performance Ranges: |
Annual Performance Range | |
Threshold | $499,794,258 |
Target | $539,574,938 |
Optimum | $579,355,617 |
4. | Mission Product Utilization |
• | Definition: Member usage of mission-oriented products. Mission-oriented products consist of the following: |
◦ | Affordable Housing Program (AHP); |
◦ | CICA - Community Housing Program (CHP); and Community Development Program (CDP) |
◦ | Homeownership Set-aside Programs; and |
◦ | Joint Opportunities for Building Success (JOBS). |
• | Measure: Calculate the number of FHLBank members at the time of mission product usage that qualify as a user of a product (as defined below following each product) at any time during the current calendar year. For purposes of calculating the number of qualifying users a member is counted only once within each mission-oriented product category. Program participation use is credited and remains credited for the entire calendar year irrespective of whether the participating member is subsequently acquired, merged or otherwise terminates FHLBank membership. |
• | Mission-oriented Product Category Usage Definitions |
◦ | AHP - Applications submitted. Applications submitted by a member but subsequently deemed to be ineligible by FHLBank will be counted as a qualified use. |
◦ | CICA - Applications approved. |
◦ | Homeownership Set-aside Programs - Agreements submitted. |
◦ | JOBS - Applications submitted. |
• | Performance Range: |
Annual Performance Range | |
Threshold | 305 |
Target | 360 |
Optimum | 415 |
• | Performance Ranges |
Score | Payout | |
Threshold | 3.0 | 50% |
Target | 3.5 | 100% |
Optimum | 5.0 | 150% |
• | Risk Management Metric Weights: The following metric weight for each goal metric is assigned to the Participants: |
Risk Management Category | Weighting |
Liquidity Risk | 30% |
Market Risk | 40% |
Credit Risk | 30% |
Total | 100% |
• | Performance Ranges |
Score | Payout | |
Threshold | 3.0 | 50% |
Target | 3.5 | 100% |
Optimum | 5.0 | 150% |
• | Risk Management Metric Weights: The following metric weight for each goal metric is assigned to the Participants: |
Risk Management Category | Weighting |
Compliance Risk | 30% |
Business Risk | 35% |
Operations Risk | 35% |
Total | 100% |
B. | 2014-2016 Deferral Performance Period Metrics. |
Minimum | Threshold | Target | Maximum | |
Total Return(1) | >8/12 vs FHLBanks | 8/12 vs FHLBanks | 5/12 vs FHLBanks | 2/12 or 1/12 vs FHLBanks |
Deferred Incentive | ||||
Performance Measure Percentage | 0% | 75% | 100% | 125% |
Weighting | 0.50 | 0.50 | 0.50 | 0.50 |
Dollar Value (Deferred Incentive x Performance Measure Percentage x Weight) | $ | $ | $ | $ |
Market Value of Equity (MVE) / Total Regulatory Capital Stock (TRCS)(2) | >9/12 vs FHLBanks | 9/12 vs FHLBanks | 6/12 vs FHLBanks | 2/12 or 1/12 vs FHLBanks |
Deferred Incentive | ||||
Performance Measure Percentage | 0% | 75% | 100% | 125% |
Weighting | 0.50 | 0.50 | 0.50 | 0.50 |
Dollar Value (Deferred Incentive x Performance Measure Percentage x Weight) | $ | $ | $ | $ |
Total Value (Dollar Value for Total Return + Dollar Value for Expense Growth + Dollar Value for MVE/TRCS) | $ | $ | $ | $ |
Deferred Incentive Opportunity Percentage Level I (40%) Level II (32.5%) Level III (25%) | % | % | % | % |
Deferred Incentive Award (Total Value x Deferred Incentive Opportunity Percentage) | $ | $ | $ | $ |
Participant | Total Base Opportunity | Cash Incentive | Deferred Incentive Opportunity * | ||||||
Thresh | Target | Max | Thresh | Target | Max | Thresh | Target | Max | |
Level 1 | |||||||||
CEO | 60 | 80 | 100 | 30 | 40 | 50 | 30 | 40 | 50 |
Level 2 | |||||||||
COO | 45 | 65 | 85 | 22.5 | 32.5 | 42.5 | 22.5 | 32.5 | 42.5 |
Level 3 | |||||||||
CRO | 30 | 50 | 70 | 15 | 25 | 35 | 15 | 25 | 35 |
General Counsel | 30 | 50 | 70 | 15 | 25 | 35 | 15 | 25 | 35 |
CFO | 30 | 50 | 70 | 15 | 25 | 35 | 15 | 25 | 35 |
Objective | CEO/COO/CFO | CRO | General Counsel |
1. Adjusted Return Spread on Class B Common Stock | 20% | 10% | 15% |
2. Net Income after Capital Charge | 20% | 10% | 15% |
3. Retained Earnings | 10% | 20% | 10% |
4. Mission Product Utilization | 10% | 10% | 10% |
5. Risk Management- Market, Credit, Liquidity | 20% | 25% | 25% |
6. Risk Management- Compliance, Business, Operations | 20% | 25% | 25% |
Total | 100% | 100% | 100% |
A. | 2014 Base Performance Period Metrics. The following goal metrics are assigned to the Participants under the Plan. All calculations including interest rates will be rounded to two decimal places. |
1. | Adjusted Return Spread on Regulatory Total Capital |
◦ | Net income calculated under generally accepted accounting principles (GAAP) |
◦ | Plus recorded AHP assessments |
◦ | Excluding the impact or adjustment required because of Accounting Standards Codification 815 (ASC 815) |
◦ | Plus dividends on redeemable Class A and Class B Common Stock treated as interest expense under ASC 450 |
◦ | Minus prepayment fees |
◦ | Minus/plus realized or unrealized gains/losses on securities (excludes any charges for other-than-temporary impairment of securities) |
◦ | Minus/plus gains/losses on mortgage loans held for sale |
◦ | Minus/plus gains/losses on early retirement of debt and related derivatives |
◦ | Minus/plus any amortization/accretion of premium/discount on unswapped mortgage-backed securities in the FHLBank’s trading portfolio (not amortized/accreted under GAAP) |
◦ | Less a calculated 10% AHP assessment |
Annual Performance Range | |
Threshold | 4.73% |
Target | 6.02% |
Optimum | 7.30% |
2. | Net Income after Capital Charge |
Annual Performance Range | |
Threshold | $80,208,963 |
Target | $105,208,963 |
Optimum | $130,208,963 |
3. | Retained Earnings |
Annual Performance Range | |
Threshold | $617,202,106 |
Target | $646,572,966 |
Optimum | $675,943,826 |
4. | Core Mission Assets (CMA) Ratio |
Annual Performance Range | |
Threshold | 57.40% |
Target | 59.40% |
Optimum | 61.40% |
Score | |
Threshold | 3.0 |
Target | 4.0 |
Optimum | 5.0 |
Risk Management Category | Weighting |
Liquidity Risk | 30% |
Market Risk | 40% |
Credit Risk | 30% |
Total | 100% |
Score | |
Threshold | 3.0 |
Target | 4.0 |
Optimum | 5.0 |
Risk Management Category | Weighting |
Compliance Risk | 30% |
Business Risk | 35% |
Operations Risk | 35% |
Total | 100% |
B. | 2015-2017 Deferral Performance Period Metrics. |
Minimum | Threshold | Target | Optimum | |
Total Return(1) | >9/12 vs FHLBanks | 9/12 vs FHLBanks | 6/12 vs FHLBanks | 2/12 or 1/12 vs FHLBanks |
Deferred Incentive | ||||
Performance Measure Percentage | 0% | 75% | 100% | 125% |
Weighting | 0.50 | 0.50 | 0.50 | 0.50 |
Dollar Value (Deferred Incentive x Performance Measure Percentage x Weight) | $ | $ | $ | $ |
Market Value of Equity (MVE) / Total Regulatory Capital Stock (TRCS)(2) | >9/12 vs FHLBanks | 9/12 vs FHLBanks | 6/12 vs FHLBanks | 2/12 or 1/12 vs FHLBanks |
Deferred Incentive | ||||
Performance Measure Percentage | 0% | 75% | 100% | 125% |
Weighting | 0.50 | 0.50 | 0.50 | 0.50 |
Dollar Value (Deferred Incentive x Performance Measure Percentage x Weight) | $ | $ | $ | $ |
Final Deferred Incentive Award (Dollar value for Total Return + Dollar Value for MVE/TRCS) |
C. | Total Base Opportunity Metric Weights. |
Participant | Total Base Opportunity | ||
Thresh | Target | Optimum | |
Level 1 | |||
CEO | 40 | 80 | 120 |
Level 2 | |||
COO | 32.5 | 65 | 97.5 |
Level 3 | |||
CRO | 25 | 50 | 75 |
General Counsel | 25 | 50 | 75 |
CFO | 25 | 50 | 75 |
Objective | CEO/COO/CFO | CRO | General Counsel |
1. Adjusted Return Spread on Regulatory Total Capital | 20% | 10% | 15% |
2. Net Income after Capital Charge | 20% | 10% | 15% |
3. Retained Earnings | 10% | 20% | 10% |
4. Core Mission Assets (CMA) Ratio | 10% | 10% | 10% |
5. Risk Management- Market, Credit, Liquidity | 20% | 25% | 25% |
6. Risk Management- Compliance, Business, Operations | 20% | 25% | 25% |
Total | 100% | 100% | 100% |
A. | 2015 Base Performance Period Metrics. The following goal metrics are assigned to the Participants under the Plan. All calculations including interest rates will be rounded to two decimal places. |
1. | Adjusted Return Spread on Regulatory Total Capital |
◦ | Net income calculated under generally accepted accounting principles (GAAP) |
◦ | Plus recorded AHP assessments |
◦ | Excluding the impact or adjustment required because of Accounting Standards Codification 815 (ASC 815) |
◦ | Plus dividends on redeemable Class A and Class B Common Stock treated as interest expense under ASC 450 |
◦ | Minus prepayment fees |
◦ | Minus/plus realized or unrealized gains/losses on securities (excludes any charges for other-than-temporary impairment of securities) |
◦ | Minus/plus gains/losses on mortgage loans held for sale |
◦ | Minus/plus gains/losses on early retirement of debt and related derivatives |
◦ | Minus/plus any amortization/accretion of premium/discount on unswapped securities in the FHLBank’s trading portfolio and any investment that is tied to an economic swap where an upfront fee was not received (not amortized/accreted under GAAP) |
◦ | Less a calculated 10% AHP assessment |
Annual Performance Range | |
Threshold | 4.72% |
Target | 5.85% |
Optimum | 6.42% |
2. | Net Income after Capital Charge |
Annual Performance Range | |
Threshold | $71,477,000 |
Target | $91,477,000 |
Optimum | $101,477,000 |
3. | Retained Earnings |
Annual Performance Range | |
Threshold | $655,263,000 |
Target | $681,920,000 |
Optimum | $702,007,000 |
4. | Core Mission Assets (CMA) Ratio |
Annual Performance Range | |
Threshold | 60% |
Target | 70% |
Optimum | 80% |
Score | |
Threshold | 3.0 |
Target | 4.0 |
Optimum | 5.0 |
Risk Management Category | Weighting |
Liquidity Risk | 30% |
Market Risk | 40% |
Credit Risk | 30% |
Total | 100% |
Score | |
Threshold | 3.0 |
Target | 4.0 |
Optimum | 5.0 |
Risk Management Category | Weighting |
Compliance Risk | 30% |
Business Risk | 35% |
Operations Risk | 35% |
Total | 100% |
B. | 2016-2018 Deferral Performance Period Metrics. |
Minimum | Threshold | Target | Optimum | |
Total Return(1) | >9/12 vs FHLBanks | 9/12 vs FHLBanks | 6/12 vs FHLBanks | <=2/12 vs FHLBanks |
Deferred Incentive | ||||
Performance Measure Percentage | 0% | 75% | 100% | 125% |
Weighting | 0.50 | 0.50 | 0.50 | 0.50 |
Dollar Value (Deferred Incentive x Performance Measure Percentage x Weight) | $ | $ | $ | $ |
Market Value of Equity (MVE) / Total Regulatory Capital Stock (TRCS)(2) | >9/12 vs FHLBanks | 9/12 vs FHLBanks | 6/12 vs FHLBanks | <=2/12 vs FHLBanks |
Deferred Incentive | ||||
Performance Measure Percentage | 0% | 75% | 100% | 125% |
Weighting | 0.50 | 0.50 | 0.50 | 0.50 |
Dollar Value (Deferred Incentive x Performance Measure Percentage x Weight) | $ | $ | $ | $ |
Final Deferred Incentive Award (Dollar value for Total Return + Dollar Value for MVE/TRCS) |
C. | Total Base Opportunity Metric Weights. |
Participant | Total Base Opportunity 1 | ||
Threshold | Target | Optimum | |
Level 1 | |||
CEO | 40 | 80 | 120 |
Level 2 | |||
COO | 32.5 | 65 | 97.5 |
Level 3 | |||
CRO | 25 | 50 | 75 |
General Counsel | 25 | 50 | 75 |
CFO | 25 | 50 | 75 |
Objective | CEO/COO/CFO | CRO | General Counsel |
1. Adjusted Return Spread on Regulatory Total Capital | 20% | 10% | 15% |
2. Net Income after Capital Charge | 20% | 10% | 15% |
3. Retained Earnings | 10% | 20% | 10% |
4. Core Mission Assets (CMA) Ratio | 10% | 10% | 10% |
5. Risk Management- Market, Credit, Liquidity | 20% | 25% | 25% |
6. Risk Management- Compliance, Business, Operations | 20% | 25% | 25% |
Total | 100% | 100% | 100% |