221
Initial Treasury Yield Curve: Coupon Payin 12/31/2002 12/31/2004 10/31/2005 3 Month Yield 1.21% 2.22% 3.79% 6 Month Yield 1.27% 2.50% 4.13% 1 Year Yield 1.45% 2.67% 4.18% 2 Year Yield 1.84% 3.01% 4.27% 3 Year Yield 2.23% 3.21% 4.29% 5 Year Yield 3.03% 3.60% 4.33% 7 Year Yield 3.63% 3.93% 4.38% 10 Year Yield 4.03% 4.23% 4.46% 20 Year Yield 5.01% 4.88% 4.74% 30 Year Yield 5.99% 5.00% 4.85%

[XLS] of committees_e_capad_lrbc... · Web viewNumber of Custom Scenarios: Custom List of Scenario Numbers: Scenario Orig Scen# Year 3-Month 6-Month 1-Year 2-Year 3-Year 5-Year 7-Year

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Scenario1Initial Treasury Yield Curve: Coupon Paying 12/31/2002 12/31/2004 10/31/2005 "Feb 19823 Month Yield 1.21% 2.22% 3.79% 14.418%6 Month Yield 1.27% 2.50% 4.13% 14.891%1 Year Yield 1.45% 2.67% 4.18% 14.792%2 Year Yield 1.84% 3.01% 4.27% 14.865%3 Year Yield 2.23% 3.21% 4.29% 14.773%5 Year Yield 3.03% 3.60% 4.33% 14.590%7 Year Yield 3.63% 3.93% 4.38% 14.509%10 Year Yield 4.03% 4.23% 4.46% 14.475%20 Year Yield 5.01% 4.88% 4.74% 14.534%30 Year Yield 5.99% 5.00% 4.85% 14.271%

Scenario3Scenario2 "June_20036.750% 0.945%7.130% 0.945%7.180% 1.006%7.270% 1.219%7.290% 1.502%7.330% 2.249%7.380% 2.822%7.460% 3.152%7.470% 4.324%7.850% 4.850%

F5
GHancock: Decimal. Enter rates as nominal semi-annual bond equivalent yields.

Assumptions

Page 3

Initial Treasury Curve Standard C-3 Phase I RBC ScenariosInitial Treasury Yield Curve: Coupon Paying 3 Month Yield 0.160%6 Month Yield 0.220%1 Year Yield 0.340%2 Year Yield 0.760%3 Year Yield 1.260%5 Year Yield 2.100%7 Year Yield 2.750%10 Year Yield 3.310%20 Year Yield 4.050%30 Year Yield 4.220%

Model Settings Custom Interest Rate ScenariosModel Frequency Monthly Note: Edit list of custom scenario numbers starting in cell $B$52Output Target Comma Delimited FileGenerate Bond Indices? 0

Excel Output SettingsBlank rows between scenarios 4

Comma Delimited Output SettingsOutput Type Single FileFile name (.csv) c:\temp\scenarios\test50.csvOutput precision 6Include File Header? 0

Bond Return Model: Random SamplesRandom Number Files (Folder): c:\temp\ Money Market: rand_ret_MONEY.csv Government Bonds: rand_ret_ITGVT.csv Corporate Bonds: rand_ret_LTCORP.csv

Custom ScenariosCustom List of Scenario Numbers:

123456789

10111213

A23
Chris Stiefeling: Output is supported in two formats. "Single File" writes to one file with each line representing a single scenario x duration combination. The columns of the file represent different maturities or indices. The second option writes one file per maturity in scenario x duration format.
A25
GHancock: The number of significant digits to the right of the decimal point.
A26
GHancock: If "True", the first row in the file includes descriptive headers to identify column output.

Assumptions

Page 4

1415161718192021222324252627282930313233343536373839404142434445464748495051525354555657585960616263

Assumptions

Page 5

646566676869707172737475767778798081828384858687888990919293949596979899

100101102103104105106107108109110111112113

Assumptions

Page 6

114115116117118119120121122123124125126127128129130131132133134135136137138139140141142143144145146147148149150151152153154155156157158159160161162163

Assumptions

Page 7

164165166167168169170171172173174175176177178179180181182183184185186187188189190191192193194195196197198199200201202203204205206207208209210211212213

Assumptions

Page 8

214215216217218219220221222223224225226227228229230231232233234235236237238239240241242243244245246247248249250251252253254255256257258259260261262263

Assumptions

Page 9

264265266267268269270271272273274275276277278279280281282283284285286287288289290291292293294295296297298299300301302303304305306307308309310311312313

Assumptions

Page 10

314315316317318319320321322323324325326327328329330331332333334335336337338339340341342343344345346347348349350351352353354355356357358359360361362363

Assumptions

Page 11

364365366367368369370371372373374375376377378379380381382383384385386387388389390391392393394395396397398399400401402403404405406407408409410411412413

Assumptions

Page 12

414415416417418419420421422423424425426427428429430431432433434435436437438439440441442443444445446447448449450451452453454455456457458459460461462463

Assumptions

Page 13

464465466467468469470471472473474475476477478479480481482483484485486487488489490491492493494495496497498499500501502503504505506507508509510511512513

Assumptions

Page 14

514515516517518519520521522523524525526527528529530531532533534535536537538539540541542543544545546547548549550551552553554555556557558559560561562563

Assumptions

Page 15

564565566567568569570571572573574575576577578579580581582583584585586587588589590591592593594595596597598599600601602603604605606607608609610611612613

Assumptions

Page 16

614615616617618619620621622623624625626627628629630631632633634635636637638639640641642643644645646647648649650651652653654655656657658659660661662663

Assumptions

Page 17

664665666667668669670671672673674675676677678679680681682683684685686687688689690691692693694695696697698699700701702703704705706707708709710711712713

Assumptions

Page 18

714715716717718719720721722723724725726727728729730731732733734735736737738739740741742743744745746747748749750751752753754755756757758759760761762763

Assumptions

Page 19

764765766767768769770771772773774775776777778779780781782783784785786787788789790791792793794795796797798799800801802803804805806807808809810811812813

Assumptions

Page 20

814815816817818819820821822823824825826827828829830831832833834835836837838839840841842843844845846847848849850851852853854855856857858859860861862863

Assumptions

Page 21

864865866867868869870871872873874875876877878879880881882883884885886887888889890891892893894895896897898899900901902903904905906907908909910911912913

Assumptions

Page 22

914915916917918919920921922923924925926927928929930931932933934935936937938939940941942943944945946947948949950951952953954955956957958959960961962963

Assumptions

Page 23

964965966967968969970971972973974975976977978979980981982983984985986987988989990991992993994995996997998999

10001001100210031004100510061007100810091010101110121013

Assumptions

Page 24

10141015101610171018101910201021102210231024102510261027102810291030103110321033103410351036103710381039104010411042104310441045104610471048104910501051105210531054105510561057105810591060106110621063

Assumptions

Page 25

10641065106610671068106910701071107210731074107510761077107810791080108110821083108410851086108710881089109010911092109310941095109610971098109911001101110211031104110511061107110811091110111111121113

Assumptions

Page 26

11141115111611171118111911201121112211231124112511261127112811291130113111321133113411351136113711381139114011411142114311441145114611471148114911501151115211531154115511561157115811591160116111621163

Assumptions

Page 27

11641165116611671168116911701171117211731174117511761177117811791180118111821183118411851186118711881189119011911192119311941195119611971198119912001201120212031204120512061207120812091210121112121213

Assumptions

Page 28

12141215121612171218121912201221122212231224122512261227122812291230123112321233123412351236123712381239124012411242124312441245124612471248124912501251125212531254125512561257125812591260126112621263

Assumptions

Page 29

12641265126612671268126912701271127212731274127512761277127812791280128112821283128412851286128712881289129012911292129312941295129612971298129913001301130213031304130513061307130813091310131113121313

Assumptions

Page 30

13141315131613171318131913201321132213231324132513261327132813291330133113321333133413351336133713381339134013411342134313441345134613471348134913501351135213531354135513561357135813591360136113621363

Assumptions

Page 31

13641365136613671368136913701371137213731374137513761377137813791380138113821383138413851386138713881389139013911392139313941395139613971398139914001401140214031404140514061407140814091410141114121413

Assumptions

Page 32

14141415141614171418141914201421142214231424142514261427142814291430143114321433143414351436143714381439144014411442144314441445144614471448144914501451145214531454145514561457145814591460146114621463

Assumptions

Page 33

14641465146614671468146914701471147214731474147514761477147814791480148114821483148414851486148714881489149014911492149314941495149614971498149915001501150215031504150515061507150815091510151115121513

Assumptions

Page 34

15141515151615171518151915201521152215231524152515261527152815291530153115321533153415351536153715381539154015411542154315441545154615471548154915501551155215531554155515561557155815591560156115621563

Assumptions

Page 35

15641565156615671568156915701571157215731574157515761577157815791580158115821583158415851586158715881589159015911592159315941595159615971598159916001601160216031604160516061607160816091610161116121613

Assumptions

Page 36

16141615161616171618161916201621162216231624162516261627162816291630163116321633163416351636163716381639164016411642164316441645164616471648164916501651165216531654165516561657165816591660166116621663

Assumptions

Page 37

16641665166616671668166916701671167216731674167516761677167816791680168116821683168416851686168716881689169016911692169316941695169616971698169917001701170217031704170517061707170817091710171117121713

Assumptions

Page 38

17141715171617171718171917201721172217231724172517261727172817291730173117321733173417351736173717381739174017411742174317441745174617471748174917501751175217531754175517561757175817591760176117621763

Assumptions

Page 39

17641765176617671768176917701771177217731774177517761777177817791780178117821783178417851786178717881789179017911792179317941795179617971798179918001801180218031804180518061807180818091810181118121813

Assumptions

Page 40

18141815181618171818181918201821182218231824182518261827182818291830183118321833183418351836183718381839184018411842184318441845184618471848184918501851185218531854185518561857185818591860186118621863

Assumptions

Page 41

18641865186618671868186918701871187218731874187518761877187818791880188118821883188418851886188718881889189018911892189318941895189618971898189919001901190219031904190519061907190819091910191119121913

Assumptions

Page 42

19141915191619171918191919201921192219231924192519261927192819291930193119321933193419351936193719381939194019411942194319441945194619471948194919501951195219531954195519561957195819591960196119621963

Assumptions

Page 43

19641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013

Assumptions

Page 44

20142015201620172018201920202021202220232024202520262027202820292030203120322033203420352036203720382039204020412042204320442045204620472048204920502051205220532054205520562057205820592060206120622063

Assumptions

Page 45

20642065206620672068206920702071207220732074207520762077207820792080208120822083208420852086208720882089209020912092209320942095209620972098209921002101210221032104210521062107210821092110211121122113

Assumptions

Page 46

21142115211621172118211921202121212221232124212521262127212821292130213121322133213421352136213721382139214021412142214321442145214621472148214921502151215221532154215521562157215821592160216121622163

Assumptions

Page 47

21642165216621672168216921702171217221732174217521762177217821792180218121822183218421852186218721882189219021912192219321942195219621972198219922002201220222032204220522062207220822092210221122122213

Assumptions

Page 48

22142215221622172218221922202221222222232224222522262227222822292230223122322233223422352236223722382239224022412242224322442245224622472248224922502251225222532254225522562257225822592260226122622263

Assumptions

Page 49

22642265226622672268226922702271227222732274227522762277227822792280228122822283228422852286228722882289229022912292229322942295229622972298229923002301230223032304230523062307230823092310231123122313

Assumptions

Page 50

23142315231623172318231923202321232223232324232523262327232823292330233123322333233423352336233723382339234023412342234323442345234623472348234923502351235223532354235523562357235823592360236123622363

Assumptions

Page 51

23642365236623672368236923702371237223732374237523762377237823792380238123822383238423852386238723882389239023912392239323942395239623972398239924002401240224032404240524062407240824092410241124122413

Assumptions

Page 52

24142415241624172418241924202421242224232424242524262427242824292430243124322433243424352436243724382439244024412442244324442445244624472448244924502451245224532454245524562457245824592460246124622463

Assumptions

Page 53

24642465246624672468246924702471247224732474247524762477247824792480248124822483248424852486248724882489249024912492249324942495249624972498249925002501250225032504250525062507250825092510251125122513

Assumptions

Page 54

25142515251625172518251925202521252225232524252525262527252825292530253125322533253425352536253725382539254025412542254325442545254625472548254925502551255225532554255525562557255825592560256125622563

Assumptions

Page 55

25642565256625672568256925702571257225732574257525762577257825792580258125822583258425852586258725882589259025912592259325942595259625972598259926002601260226032604260526062607260826092610261126122613

Assumptions

Page 56

26142615261626172618261926202621262226232624262526262627262826292630263126322633263426352636263726382639264026412642264326442645264626472648264926502651265226532654265526562657265826592660266126622663

Assumptions

Page 57

26642665266626672668266926702671267226732674267526762677267826792680268126822683268426852686268726882689269026912692269326942695269626972698269927002701270227032704270527062707270827092710271127122713

Assumptions

Page 58

27142715271627172718271927202721272227232724272527262727272827292730273127322733273427352736273727382739274027412742274327442745274627472748274927502751275227532754275527562757275827592760276127622763

Assumptions

Page 59

27642765276627672768276927702771277227732774277527762777277827792780278127822783278427852786278727882789279027912792279327942795279627972798279928002801280228032804280528062807280828092810281128122813

Assumptions

Page 60

28142815281628172818281928202821282228232824282528262827282828292830283128322833283428352836283728382839284028412842284328442845284628472848284928502851285228532854285528562857285828592860286128622863

Assumptions

Page 61

28642865286628672868286928702871287228732874287528762877287828792880288128822883288428852886288728882889289028912892289328942895289628972898289929002901290229032904290529062907290829092910291129122913

Assumptions

Page 62

29142915291629172918291929202921292229232924292529262927292829292930293129322933293429352936293729382939294029412942294329442945294629472948294929502951295229532954295529562957295829592960296129622963

Assumptions

Page 63

29642965296629672968296929702971297229732974297529762977297829792980298129822983298429852986298729882989299029912992299329942995299629972998299930003001300230033004300530063007300830093010301130123013

Assumptions

Page 64

30143015301630173018301930203021302230233024302530263027302830293030303130323033303430353036303730383039304030413042304330443045304630473048304930503051305230533054305530563057305830593060306130623063

Assumptions

Page 65

30643065306630673068306930703071307230733074307530763077307830793080308130823083308430853086308730883089309030913092309330943095309630973098309931003101310231033104310531063107310831093110311131123113

Assumptions

Page 66

31143115311631173118311931203121312231233124312531263127312831293130313131323133313431353136313731383139314031413142314331443145314631473148314931503151315231533154315531563157315831593160316131623163

Assumptions

Page 67

31643165316631673168316931703171317231733174317531763177317831793180318131823183318431853186318731883189319031913192319331943195319631973198319932003201320232033204320532063207320832093210321132123213

Assumptions

Page 68

32143215321632173218321932203221322232233224322532263227322832293230323132323233323432353236323732383239324032413242324332443245324632473248324932503251325232533254325532563257325832593260326132623263

Assumptions

Page 69

32643265326632673268326932703271327232733274327532763277327832793280328132823283328432853286328732883289329032913292329332943295329632973298329933003301330233033304330533063307330833093310331133123313

Assumptions

Page 70

33143315331633173318331933203321332233233324332533263327332833293330333133323333333433353336333733383339334033413342334333443345334633473348334933503351335233533354335533563357335833593360336133623363

Assumptions

Page 71

33643365336633673368336933703371337233733374337533763377337833793380338133823383338433853386338733883389339033913392339333943395339633973398339934003401340234033404340534063407340834093410341134123413

Assumptions

Page 72

34143415341634173418341934203421342234233424342534263427342834293430343134323433343434353436343734383439344034413442344334443445344634473448344934503451345234533454345534563457345834593460346134623463

Assumptions

Page 73

34643465346634673468346934703471347234733474347534763477347834793480348134823483348434853486348734883489349034913492349334943495349634973498349935003501350235033504350535063507350835093510351135123513

Assumptions

Page 74

35143515351635173518351935203521352235233524352535263527352835293530353135323533353435353536353735383539354035413542354335443545354635473548354935503551355235533554355535563557355835593560356135623563

Assumptions

Page 75

35643565356635673568356935703571357235733574357535763577357835793580358135823583358435853586358735883589359035913592359335943595359635973598359936003601360236033604360536063607360836093610361136123613

Assumptions

Page 76

36143615361636173618361936203621362236233624362536263627362836293630363136323633363436353636363736383639364036413642364336443645364636473648364936503651365236533654365536563657365836593660366136623663

Assumptions

Page 77

36643665366636673668366936703671367236733674367536763677367836793680368136823683368436853686368736883689369036913692369336943695369636973698369937003701370237033704370537063707370837093710371137123713

Assumptions

Page 78

37143715371637173718371937203721372237233724372537263727372837293730373137323733373437353736373737383739374037413742374337443745374637473748374937503751375237533754375537563757375837593760376137623763

Assumptions

Page 79

37643765376637673768376937703771377237733774377537763777377837793780378137823783378437853786378737883789379037913792379337943795379637973798379938003801380238033804380538063807380838093810381138123813

Assumptions

Page 80

38143815381638173818381938203821382238233824382538263827382838293830383138323833383438353836383738383839384038413842384338443845384638473848384938503851385238533854385538563857385838593860386138623863

Assumptions

Page 81

38643865386638673868386938703871387238733874387538763877387838793880388138823883388438853886388738883889389038913892389338943895389638973898389939003901390239033904390539063907390839093910391139123913

Assumptions

Page 82

39143915391639173918391939203921392239233924392539263927392839293930393139323933393439353936393739383939394039413942394339443945394639473948394939503951395239533954395539563957395839593960396139623963

Assumptions

Page 83

39643965396639673968396939703971397239733974397539763977397839793980398139823983398439853986398739883989399039913992399339943995399639973998399940004001400240034004400540064007400840094010401140124013

Assumptions

Page 84

40144015401640174018401940204021402240234024402540264027402840294030403140324033403440354036403740384039404040414042404340444045404640474048404940504051405240534054405540564057405840594060406140624063

Assumptions

Page 85

40644065406640674068406940704071407240734074407540764077407840794080408140824083408440854086408740884089409040914092409340944095409640974098409941004101410241034104410541064107410841094110411141124113

Assumptions

Page 86

41144115411641174118411941204121412241234124412541264127412841294130413141324133413441354136413741384139414041414142414341444145414641474148414941504151415241534154415541564157415841594160416141624163

Assumptions

Page 87

41644165416641674168416941704171417241734174417541764177417841794180418141824183418441854186418741884189419041914192419341944195419641974198419942004201420242034204420542064207420842094210421142124213

Assumptions

Page 88

42144215421642174218421942204221422242234224422542264227422842294230423142324233423442354236423742384239424042414242424342444245424642474248424942504251425242534254425542564257425842594260426142624263

Assumptions

Page 89

42644265426642674268426942704271427242734274427542764277427842794280428142824283428442854286428742884289429042914292429342944295429642974298429943004301430243034304430543064307430843094310431143124313

Assumptions

Page 90

43144315431643174318431943204321432243234324432543264327432843294330433143324333433443354336433743384339434043414342434343444345434643474348434943504351435243534354435543564357435843594360436143624363

Assumptions

Page 91

43644365436643674368436943704371437243734374437543764377437843794380438143824383438443854386438743884389439043914392439343944395439643974398439944004401440244034404440544064407440844094410441144124413

Assumptions

Page 92

44144415441644174418441944204421442244234424442544264427442844294430443144324433443444354436443744384439444044414442444344444445444644474448444944504451445244534454445544564457445844594460446144624463

Assumptions

Page 93

44644465446644674468446944704471447244734474447544764477447844794480448144824483448444854486448744884489449044914492449344944495449644974498449945004501450245034504450545064507450845094510451145124513

Assumptions

Page 94

45144515451645174518451945204521452245234524452545264527452845294530453145324533453445354536453745384539454045414542454345444545454645474548454945504551455245534554455545564557455845594560456145624563

Assumptions

Page 95

45644565456645674568456945704571457245734574457545764577457845794580458145824583458445854586458745884589459045914592459345944595459645974598459946004601460246034604460546064607460846094610461146124613

Assumptions

Page 96

46144615461646174618461946204621462246234624462546264627462846294630463146324633463446354636463746384639464046414642464346444645464646474648464946504651465246534654465546564657465846594660466146624663

Assumptions

Page 97

46644665466646674668466946704671467246734674467546764677467846794680468146824683468446854686468746884689469046914692469346944695469646974698469947004701470247034704470547064707470847094710471147124713

Assumptions

Page 98

47144715471647174718471947204721472247234724472547264727472847294730473147324733473447354736473747384739474047414742474347444745474647474748474947504751475247534754475547564757475847594760476147624763

Assumptions

Page 99

47644765476647674768476947704771477247734774477547764777477847794780478147824783478447854786478747884789479047914792479347944795479647974798479948004801480248034804480548064807480848094810481148124813

Assumptions

Page 100

48144815481648174818481948204821482248234824482548264827482848294830483148324833483448354836483748384839484048414842484348444845484648474848484948504851485248534854485548564857485848594860486148624863

Assumptions

Page 101

48644865486648674868486948704871487248734874487548764877487848794880488148824883488448854886488748884889489048914892489348944895489648974898489949004901490249034904490549064907490849094910491149124913

Assumptions

Page 102

49144915491649174918491949204921492249234924492549264927492849294930493149324933493449354936493749384939494049414942494349444945494649474948494949504951495249534954495549564957495849594960496149624963

Assumptions

Page 103

49644965496649674968496949704971497249734974497549764977497849794980498149824983498449854986498749884989499049914992499349944995499649974998499950005001500250035004500550065007500850095010501150125013

Assumptions

Page 104

50145015501650175018501950205021502250235024502550265027502850295030503150325033503450355036503750385039504050415042504350445045504650475048504950505051505250535054505550565057505850595060506150625063

Assumptions

Page 105

50645065506650675068506950705071507250735074507550765077507850795080508150825083508450855086508750885089509050915092509350945095509650975098509951005101510251035104510551065107510851095110511151125113

Assumptions

Page 106

51145115511651175118511951205121512251235124512551265127512851295130513151325133513451355136513751385139514051415142514351445145514651475148514951505151515251535154515551565157515851595160516151625163

Assumptions

Page 107

51645165516651675168516951705171517251735174517551765177517851795180518151825183518451855186518751885189519051915192519351945195519651975198519952005201520252035204520552065207520852095210521152125213

Assumptions

Page 108

52145215521652175218521952205221522252235224522552265227522852295230523152325233523452355236523752385239524052415242524352445245524652475248524952505251525252535254525552565257525852595260526152625263

Assumptions

Page 109

52645265526652675268526952705271527252735274527552765277527852795280528152825283528452855286528752885289529052915292529352945295529652975298529953005301530253035304530553065307530853095310531153125313

Assumptions

Page 110

53145315531653175318531953205321532253235324532553265327532853295330533153325333533453355336533753385339534053415342534353445345534653475348534953505351535253535354535553565357535853595360536153625363

Assumptions

Page 111

53645365536653675368536953705371537253735374537553765377537853795380538153825383538453855386538753885389539053915392539353945395539653975398539954005401540254035404540554065407540854095410541154125413

Assumptions

Page 112

54145415541654175418541954205421542254235424542554265427542854295430543154325433543454355436543754385439544054415442544354445445544654475448544954505451545254535454545554565457545854595460546154625463

Assumptions

Page 113

54645465546654675468546954705471547254735474547554765477547854795480548154825483548454855486548754885489549054915492549354945495549654975498549955005501550255035504550555065507550855095510551155125513

Assumptions

Page 114

55145515551655175518551955205521552255235524552555265527552855295530553155325533553455355536553755385539554055415542554355445545554655475548554955505551555255535554555555565557555855595560556155625563

Assumptions

Page 115

55645565556655675568556955705571557255735574557555765577557855795580558155825583558455855586558755885589559055915592559355945595559655975598559956005601560256035604560556065607560856095610561156125613

Assumptions

Page 116

56145615561656175618561956205621562256235624562556265627562856295630563156325633563456355636563756385639564056415642564356445645564656475648564956505651565256535654565556565657565856595660566156625663

Assumptions

Page 117

56645665566656675668566956705671567256735674567556765677567856795680568156825683568456855686568756885689569056915692569356945695569656975698569957005701570257035704570557065707570857095710571157125713

Assumptions

Page 118

57145715571657175718571957205721572257235724572557265727572857295730573157325733573457355736573757385739574057415742574357445745574657475748574957505751575257535754575557565757575857595760576157625763

Assumptions

Page 119

57645765576657675768576957705771577257735774577557765777577857795780578157825783578457855786578757885789579057915792579357945795579657975798579958005801580258035804580558065807580858095810581158125813

Assumptions

Page 120

58145815581658175818581958205821582258235824582558265827582858295830583158325833583458355836583758385839584058415842584358445845584658475848584958505851585258535854585558565857585858595860586158625863

Assumptions

Page 121

58645865586658675868586958705871587258735874587558765877587858795880588158825883588458855886588758885889589058915892589358945895589658975898589959005901590259035904590559065907590859095910591159125913

Assumptions

Page 122

59145915591659175918591959205921592259235924592559265927592859295930593159325933593459355936593759385939594059415942594359445945594659475948594959505951595259535954595559565957595859595960596159625963

Assumptions

Page 123

59645965596659675968596959705971597259735974597559765977597859795980598159825983598459855986598759885989599059915992599359945995599659975998599960006001600260036004600560066007600860096010601160126013

Assumptions

Page 124

60146015601660176018601960206021602260236024602560266027602860296030603160326033603460356036603760386039604060416042604360446045604660476048604960506051605260536054605560566057605860596060606160626063

Assumptions

Page 125

60646065606660676068606960706071607260736074607560766077607860796080608160826083608460856086608760886089609060916092609360946095609660976098609961006101610261036104610561066107610861096110611161126113

Assumptions

Page 126

61146115611661176118611961206121612261236124612561266127612861296130613161326133613461356136613761386139614061416142614361446145614661476148614961506151615261536154615561566157615861596160616161626163

Assumptions

Page 127

61646165616661676168616961706171617261736174617561766177617861796180618161826183618461856186618761886189619061916192619361946195619661976198619962006201620262036204620562066207620862096210621162126213

Assumptions

Page 128

62146215621662176218621962206221622262236224622562266227622862296230623162326233623462356236623762386239624062416242624362446245624662476248624962506251625262536254625562566257625862596260626162626263

Assumptions

Page 129

62646265626662676268626962706271627262736274627562766277627862796280628162826283628462856286628762886289629062916292629362946295629662976298629963006301630263036304630563066307630863096310631163126313

Assumptions

Page 130

63146315631663176318631963206321632263236324632563266327632863296330633163326333633463356336633763386339634063416342634363446345634663476348634963506351635263536354635563566357635863596360636163626363

Assumptions

Page 131

63646365636663676368636963706371637263736374637563766377637863796380638163826383638463856386638763886389639063916392639363946395639663976398639964006401640264036404640564066407640864096410641164126413

Assumptions

Page 132

64146415641664176418641964206421642264236424642564266427642864296430643164326433643464356436643764386439644064416442644364446445644664476448644964506451645264536454645564566457645864596460646164626463

Assumptions

Page 133

64646465646664676468646964706471647264736474647564766477647864796480648164826483648464856486648764886489649064916492649364946495649664976498649965006501650265036504650565066507650865096510651165126513

Assumptions

Page 134

65146515651665176518651965206521652265236524652565266527652865296530653165326533653465356536653765386539654065416542654365446545654665476548654965506551655265536554655565566557655865596560656165626563

Assumptions

Page 135

65646565656665676568656965706571657265736574657565766577657865796580658165826583658465856586658765886589659065916592659365946595659665976598659966006601660266036604660566066607660866096610661166126613

Assumptions

Page 136

66146615661666176618661966206621662266236624662566266627662866296630663166326633663466356636663766386639664066416642664366446645664666476648664966506651665266536654665566566657665866596660666166626663

Assumptions

Page 137

66646665666666676668666966706671667266736674667566766677667866796680668166826683668466856686668766886689669066916692669366946695669666976698669967006701670267036704670567066707670867096710671167126713

Assumptions

Page 138

67146715671667176718671967206721672267236724672567266727672867296730673167326733673467356736673767386739674067416742674367446745674667476748674967506751675267536754675567566757675867596760676167626763

Assumptions

Page 139

67646765676667676768676967706771677267736774677567766777677867796780678167826783678467856786678767886789679067916792679367946795679667976798679968006801680268036804680568066807680868096810681168126813

Assumptions

Page 140

68146815681668176818681968206821682268236824682568266827682868296830683168326833683468356836683768386839684068416842684368446845684668476848684968506851685268536854685568566857685868596860686168626863

Assumptions

Page 141

68646865686668676868686968706871687268736874687568766877687868796880688168826883688468856886688768886889689068916892689368946895689668976898689969006901690269036904690569066907690869096910691169126913

Assumptions

Page 142

69146915691669176918691969206921692269236924692569266927692869296930693169326933693469356936693769386939694069416942694369446945694669476948694969506951695269536954695569566957695869596960696169626963

Assumptions

Page 143

69646965696669676968696969706971697269736974697569766977697869796980698169826983698469856986698769886989699069916992699369946995699669976998699970007001700270037004700570067007700870097010701170127013

Assumptions

Page 144

70147015701670177018701970207021702270237024702570267027702870297030703170327033703470357036703770387039704070417042704370447045704670477048704970507051705270537054705570567057705870597060706170627063

Assumptions

Page 145

70647065706670677068706970707071707270737074707570767077707870797080708170827083708470857086708770887089709070917092709370947095709670977098709971007101710271037104710571067107710871097110711171127113

Assumptions

Page 146

71147115711671177118711971207121712271237124712571267127712871297130713171327133713471357136713771387139714071417142714371447145714671477148714971507151715271537154715571567157715871597160716171627163

Assumptions

Page 147

71647165716671677168716971707171717271737174717571767177717871797180718171827183718471857186718771887189719071917192719371947195719671977198719972007201720272037204720572067207720872097210721172127213

Assumptions

Page 148

72147215721672177218721972207221722272237224722572267227722872297230723172327233723472357236723772387239724072417242724372447245724672477248724972507251725272537254725572567257725872597260726172627263

Assumptions

Page 149

72647265726672677268726972707271727272737274727572767277727872797280728172827283728472857286728772887289729072917292729372947295729672977298729973007301730273037304730573067307730873097310731173127313

Assumptions

Page 150

73147315731673177318731973207321732273237324732573267327732873297330733173327333733473357336733773387339734073417342734373447345734673477348734973507351735273537354735573567357735873597360736173627363

Assumptions

Page 151

73647365736673677368736973707371737273737374737573767377737873797380738173827383738473857386738773887389739073917392739373947395739673977398739974007401740274037404740574067407740874097410741174127413

Assumptions

Page 152

74147415741674177418741974207421742274237424742574267427742874297430743174327433743474357436743774387439744074417442744374447445744674477448744974507451745274537454745574567457745874597460746174627463

Assumptions

Page 153

74647465746674677468746974707471747274737474747574767477747874797480748174827483748474857486748774887489749074917492749374947495749674977498749975007501750275037504750575067507750875097510751175127513

Assumptions

Page 154

75147515751675177518751975207521752275237524752575267527752875297530753175327533753475357536753775387539754075417542754375447545754675477548754975507551755275537554755575567557755875597560756175627563

Assumptions

Page 155

75647565756675677568756975707571757275737574757575767577757875797580758175827583758475857586758775887589759075917592759375947595759675977598759976007601760276037604760576067607760876097610761176127613

Assumptions

Page 156

76147615761676177618761976207621762276237624762576267627762876297630763176327633763476357636763776387639764076417642764376447645764676477648764976507651765276537654765576567657765876597660766176627663

Assumptions

Page 157

76647665766676677668766976707671767276737674767576767677767876797680768176827683768476857686768776887689769076917692769376947695769676977698769977007701770277037704770577067707770877097710771177127713

Assumptions

Page 158

77147715771677177718771977207721772277237724772577267727772877297730773177327733773477357736773777387739774077417742774377447745774677477748774977507751775277537754775577567757775877597760776177627763

Assumptions

Page 159

77647765776677677768776977707771777277737774777577767777777877797780778177827783778477857786778777887789779077917792779377947795779677977798779978007801780278037804780578067807780878097810781178127813

Assumptions

Page 160

78147815781678177818781978207821782278237824782578267827782878297830783178327833783478357836783778387839784078417842784378447845784678477848784978507851785278537854785578567857785878597860786178627863

Assumptions

Page 161

78647865786678677868786978707871787278737874787578767877787878797880788178827883788478857886788778887889789078917892789378947895789678977898789979007901790279037904790579067907790879097910791179127913

Assumptions

Page 162

79147915791679177918791979207921792279237924792579267927792879297930793179327933793479357936793779387939794079417942794379447945794679477948794979507951795279537954795579567957795879597960796179627963

Assumptions

Page 163

79647965796679677968796979707971797279737974797579767977797879797980798179827983798479857986798779887989799079917992799379947995799679977998799980008001800280038004800580068007800880098010801180128013

Assumptions

Page 164

80148015801680178018801980208021802280238024802580268027802880298030803180328033803480358036803780388039804080418042804380448045804680478048804980508051805280538054805580568057805880598060806180628063

Assumptions

Page 165

80648065806680678068806980708071807280738074807580768077807880798080808180828083808480858086808780888089809080918092809380948095809680978098809981008101810281038104810581068107810881098110811181128113

Assumptions

Page 166

81148115811681178118811981208121812281238124812581268127812881298130813181328133813481358136813781388139814081418142814381448145814681478148814981508151815281538154815581568157815881598160816181628163

Assumptions

Page 167

81648165816681678168816981708171817281738174817581768177817881798180818181828183818481858186818781888189819081918192819381948195819681978198819982008201820282038204820582068207820882098210821182128213

Assumptions

Page 168

82148215821682178218821982208221822282238224822582268227822882298230823182328233823482358236823782388239824082418242824382448245824682478248824982508251825282538254825582568257825882598260826182628263

Assumptions

Page 169

82648265826682678268826982708271827282738274827582768277827882798280828182828283828482858286828782888289829082918292829382948295829682978298829983008301830283038304830583068307830883098310831183128313

Assumptions

Page 170

83148315831683178318831983208321832283238324832583268327832883298330833183328333833483358336833783388339834083418342834383448345834683478348834983508351835283538354835583568357835883598360836183628363

Assumptions

Page 171

83648365836683678368836983708371837283738374837583768377837883798380838183828383838483858386838783888389839083918392839383948395839683978398839984008401840284038404840584068407840884098410841184128413

Assumptions

Page 172

84148415841684178418841984208421842284238424842584268427842884298430843184328433843484358436843784388439844084418442844384448445844684478448844984508451845284538454845584568457845884598460846184628463

Assumptions

Page 173

84648465846684678468846984708471847284738474847584768477847884798480848184828483848484858486848784888489849084918492849384948495849684978498849985008501850285038504850585068507850885098510851185128513

Assumptions

Page 174

85148515851685178518851985208521852285238524852585268527852885298530853185328533853485358536853785388539854085418542854385448545854685478548854985508551855285538554855585568557855885598560856185628563

Assumptions

Page 175

85648565856685678568856985708571857285738574857585768577857885798580858185828583858485858586858785888589859085918592859385948595859685978598859986008601860286038604860586068607860886098610861186128613

Assumptions

Page 176

86148615861686178618861986208621862286238624862586268627862886298630863186328633863486358636863786388639864086418642864386448645864686478648864986508651865286538654865586568657865886598660866186628663

Assumptions

Page 177

86648665866686678668866986708671867286738674867586768677867886798680868186828683868486858686868786888689869086918692869386948695869686978698869987008701870287038704870587068707870887098710871187128713

Assumptions

Page 178

87148715871687178718871987208721872287238724872587268727872887298730873187328733873487358736873787388739874087418742874387448745874687478748874987508751875287538754875587568757875887598760876187628763

Assumptions

Page 179

87648765876687678768876987708771877287738774877587768777877887798780878187828783878487858786878787888789879087918792879387948795879687978798879988008801880288038804880588068807880888098810881188128813

Assumptions

Page 180

88148815881688178818881988208821882288238824882588268827882888298830883188328833883488358836883788388839884088418842884388448845884688478848884988508851885288538854885588568857885888598860886188628863

Assumptions

Page 181

88648865886688678868886988708871887288738874887588768877887888798880888188828883888488858886888788888889889088918892889388948895889688978898889989008901890289038904890589068907890889098910891189128913

Assumptions

Page 182

89148915891689178918891989208921892289238924892589268927892889298930893189328933893489358936893789388939894089418942894389448945894689478948894989508951895289538954895589568957895889598960896189628963

Assumptions

Page 183

89648965896689678968896989708971897289738974897589768977897889798980898189828983898489858986898789888989899089918992899389948995899689978998899990009001900290039004900590069007900890099010901190129013

Assumptions

Page 184

90149015901690179018901990209021902290239024902590269027902890299030903190329033903490359036903790389039904090419042904390449045904690479048904990509051905290539054905590569057905890599060906190629063

Assumptions

Page 185

90649065906690679068906990709071907290739074907590769077907890799080908190829083908490859086908790889089909090919092909390949095909690979098909991009101910291039104910591069107910891099110911191129113

Assumptions

Page 186

91149115911691179118911991209121912291239124912591269127912891299130913191329133913491359136913791389139914091419142914391449145914691479148914991509151915291539154915591569157915891599160916191629163

Assumptions

Page 187

91649165916691679168916991709171917291739174917591769177917891799180918191829183918491859186918791889189919091919192919391949195919691979198919992009201920292039204920592069207920892099210921192129213

Assumptions

Page 188

92149215921692179218921992209221922292239224922592269227922892299230923192329233923492359236923792389239924092419242924392449245924692479248924992509251925292539254925592569257925892599260926192629263

Assumptions

Page 189

92649265926692679268926992709271927292739274927592769277927892799280928192829283928492859286928792889289929092919292929392949295929692979298929993009301930293039304930593069307930893099310931193129313

Assumptions

Page 190

93149315931693179318931993209321932293239324932593269327932893299330933193329333933493359336933793389339934093419342934393449345934693479348934993509351935293539354935593569357935893599360936193629363

Assumptions

Page 191

93649365936693679368936993709371937293739374937593769377937893799380938193829383938493859386938793889389939093919392939393949395939693979398939994009401940294039404940594069407940894099410941194129413

Assumptions

Page 192

94149415941694179418941994209421942294239424942594269427942894299430943194329433943494359436943794389439944094419442944394449445944694479448944994509451945294539454945594569457945894599460946194629463

Assumptions

Page 193

94649465946694679468946994709471947294739474947594769477947894799480948194829483948494859486948794889489949094919492949394949495949694979498949995009501950295039504950595069507950895099510951195129513

Assumptions

Page 194

95149515951695179518951995209521952295239524952595269527952895299530953195329533953495359536953795389539954095419542954395449545954695479548954995509551955295539554955595569557955895599560956195629563

Assumptions

Page 195

95649565956695679568956995709571957295739574957595769577957895799580958195829583958495859586958795889589959095919592959395949595959695979598959996009601960296039604960596069607960896099610961196129613

Assumptions

Page 196

96149615961696179618961996209621962296239624962596269627962896299630963196329633963496359636963796389639964096419642964396449645964696479648964996509651965296539654965596569657965896599660966196629663

Assumptions

Page 197

96649665966696679668966996709671967296739674967596769677967896799680968196829683968496859686968796889689969096919692969396949695969696979698969997009701970297039704970597069707970897099710971197129713

Assumptions

Page 198

97149715971697179718971997209721972297239724972597269727972897299730973197329733973497359736973797389739974097419742974397449745974697479748974997509751975297539754975597569757975897599760976197629763

Assumptions

Page 199

97649765976697679768976997709771977297739774977597769777977897799780978197829783978497859786978797889789979097919792979397949795979697979798979998009801980298039804980598069807980898099810981198129813

Assumptions

Page 200

98149815981698179818981998209821982298239824982598269827982898299830983198329833983498359836983798389839984098419842984398449845984698479848984998509851985298539854985598569857985898599860986198629863

Assumptions

Page 201

98649865986698679868986998709871987298739874987598769877987898799880988198829883988498859886988798889889989098919892989398949895989698979898989999009901990299039904990599069907990899099910991199129913

Assumptions

Page 202

99149915991699179918991999209921992299239924992599269927992899299930993199329933993499359936993799389939994099419942994399449945994699479948994999509951995299539954995599569957995899599960996199629963

Assumptions

Page 203

996499659966996799689969997099719972997399749975997699779978997999809981998299839984998599869987998899899990999199929993999499959996999799989999

10000

Assumptions

Page 204

Standard C-3 Phase I RBC Scenarios

Custom Interest Rate ScenariosNote: Edit list of custom scenario numbers starting in cell $B$52

Scenario Orig Scen# Year Period 3-Month 6-Month 1-Year 2-Year 3-Year 5-Year 7-Year 10-Year 20-Year 30-Year MONEY ITGVT LTCORP

O1
Chris Stiefeling: The following columns are written as accumulation factors (1 + return for period).

0 Which set of scenarios were used? 2"Standard 12" = 1"Standard 50" = 2

What is the projection date (EOM)? 9/30/1996

On what basis are the projections? 2"10/1996 to 9/1997" = 1

"Calendar Year" = 2 RBC C-3 Phase I Factor: 3.578%(if "Calendar Year", the first fractional year is discarded)

Beginning Statutory Reserve Level: 1,000,000

Tax Rate: 35%

Percentile: 92.0 92.5 93.0 93.5 94.0 94.5 95.0 95.5 96.0 96.5Scenario: 38 23 26 50 20 46 22 7 37 45

C-3 Factor: 2.896% 2.908% 2.995% 3.240% 3.260% 3.298% 3.721% 3.761% 3.843% 3.921%

Sample Calculation of C-3 Factor for Scenario 1:Discount Loading: 105%

9/96-12/96 1997 1998 1999 2000 2001 2002 2003 2004 20051-yr Treasury Rates: 1.70% 4.25% 5.19% 7.36% 10.14% 9.87% 8.41% 8.75% 9.16% 7.06%

(First value is needed to discount any fraction of a year if "Calendar Year" is used)After-tax Dsct Factors: 0.9971 0.9690 0.9359 0.8911 0.8334 0.7808 0.7384 0.6968 0.6558 0.6256PV(Surplus): (1051) (25) 4080 7466 6729 4343 1210 (1752) (4210)C3-Factor: 1.384% = -Min(PV(Surplus)) / Beginning Statutory Reserve Level

*** Enter statutory surplus values for 12 or 50 scenarios, for all years of your projection

(S(1) = statutory surplus from end of first full projection year -- cumulative over at least 12 months)Scenario C-3 Factor Weight S(1) S(2) S(3) S(4) S(5) S(6) S(7) S(8) S(9)

1 1.384% 0.00 (1,085) (27) 4,579 8,959 8,618 5,881 1,736 (2,671) (6,729)2 0.429% 0.00 (2,805) (4,416) (2,742) 52 2,862 6,633 10,667 14,554 18,081 3 0.121% 0.00 (1,241) 165 7,093 14,105 17,437 21,516 25,600 29,521 33,491 4 2.279% 0.00 (927) (1,260) (5,655) (10,827) (14,257) (18,520) (22,841) (26,982) (31,375)

5 1.314% 0.00 (1,983) (2,611) (1,819) (798) (89) 612 801 310 (987)6 0.325% 0.00 (2,407) (3,392) 703 6,089 9,372 13,287 17,334 21,366 25,149 7 3.761% 0.12 (520) 411 (1,567) (5,037) (8,255) (11,996) (15,584) (19,352) (22,678)8 0.191% 0.00 (1,932) (1,848) 3,662 9,877 12,664 15,502 18,642 22,181 26,079 9 11.259% 0.00 (2,769) (5,661) (8,849) (11,156) (12,990) (16,358) (20,298) (24,591) (29,559)

10 0.209% 0.00 (1,571) (2,126) 417 4,232 6,229 9,216 13,161 17,122 21,044 11 16.778% 0.00 (3,049) (6,773) (13,336) (19,294) (22,942) (29,127) (36,286) (43,254) (50,512)12 2.053% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)13 1.284% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)14 1.444% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)15 1.580% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)16 1.200% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)17 4.253% 0.04 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)18 2.148% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)19 1.602% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)20 3.260% 0.10 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)21 2.343% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)22 3.721% 0.16 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)23 2.908% 0.04 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)24 1.290% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)25 1.403% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)26 2.995% 0.06 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)27 1.987% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)28 1.712% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)29 4.380% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)30 1.697% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)31 1.595% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)32 4.616% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)33 1.924% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)34 2.344% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)35 4.041% 0.06 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)36 2.399% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)37 3.843% 0.10 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)38 2.896% 0.02 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)39 1.834% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)40 2.707% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)

41 2.113% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)42 2.625% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)43 4.268% 0.02 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)44 2.187% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)45 3.921% 0.08 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)46 3.298% 0.12 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)47 1.564% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)48 2.657% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)49 2.084% 0.00 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)50 3.240% 0.08 (1,724) (1,720) 827 3,282 3,226 1,227 (2,339) (5,347) (7,796)

97.0 97.5 98.035 17 43

4.041% 4.253% 4.268%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 20177.89% 7.84% 8.59% 8.97% 8.43% 9.73% 8.95% 9.39% 6.11% 6.96% 6.89% 8.12%

0.5937 0.5635 0.5323 0.5016 0.4743 0.4448 0.4192 0.3939 0.3781 0.3610 0.3448 0.3267(6148) (7945) (9900) (11632) (12746) (13024) (12914) (12677) (12873) (13218) (13646) (13838)

S(10) S(11) S(12) S(13) S(14) S(15) S(16) S(17) S(18) S(19) S(20) S(21)(10,356) (14,099) (18,598) (23,191) (26,872) (29,282) (30,809) (32,182) (34,043) (36,616) (39,576) (42,359)21,517 24,807 27,745 30,856 34,365 36,415 36,899 37,398 37,968 38,613 39,266 39,779 37,639 41,893 46,018 49,660 53,001 55,506 57,169 58,888 60,853 63,097 65,467 68,280

(35,851) (39,932) (43,289) (45,465) (47,670) (50,208) (52,326) (54,181) (55,916) (57,376) (58,834) (60,058)

(2,830) (4,674) (6,939) (10,341) (14,916) (18,335) (20,052) (22,036) (24,363) (27,119) (30,471) (34,186)28,720 32,186 35,427 38,610 42,024 44,425 45,642 46,918 49,126 52,406 55,956 59,844

(25,339) (28,129) (31,292) (35,148) (39,299) (42,831) (45,915) (49,202) (52,345) (55,128) (58,092) (61,360)30,005 33,834 37,977 42,326 46,573 48,842 49,235 49,639 50,143 50,750 51,362 52,088

(35,240) (41,700) (48,555) (55,552) (62,943) (69,595) (75,405) (82,088) (89,263) (96,178) (102,706) (108,722)25,190 29,420 33,588 37,492 41,190 43,632 44,756 45,919 47,181 48,542 49,940 51,321

(58,255) (67,372) (78,883) (91,354) (103,624) (114,257) (122,330) (130,082) (138,242) (146,633) (154,270) (160,828)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)

(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)(10,467) (13,363) (16,022) (18,745) (22,150) (24,725) (26,727) (29,080) (31,464) (34,027) (37,353) (41,119)

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 20298.85% 7.45% 5.08% 5.18% 6.99% 6.81% 6.83% 5.34% 4.38% 4.46% 4.46% 4.46%

0.3081 0.2932 0.2834 0.2737 0.2612 0.2496 0.2385 0.2301 0.2234 0.2168 0.2104 0.2042(13765) (13619) (13520) (13386) (13124) (12800) (12472) (12375) (12209)

S(22) S(23) S(24) S(25) S(26) S(27) S(28) S(29) S(30) S(31) S(32) S(33)(44,679) (46,454) (47,714) (48,911) (50,242) (51,279) (52,298) (53,781) (54,641)40,151 40,524 40,992 41,564 42,154 42,872 43,733 44,636 45,101 71,569 75,033 78,737 82,678 86,781 90,884 94,953 99,155 101,316

(60,746) (61,551) (62,587) (63,487) (64,098) (64,499) (64,913) (65,546) (65,952)

(38,270) (43,014) (48,484) (54,310) (60,259) (67,527) (75,972) (85,362) (90,923)64,069 68,576 73,441 78,814 84,882 91,584 98,763 106,647 110,879

(65,196) (69,334) (72,831) (75,703) (78,976) (82,848) (86,956) (90,924) (92,776)52,932 53,798 54,659 55,510 56,372 57,343 58,443 59,580 60,159

(113,867) (119,370) (127,980) (141,175) (156,931) (173,073) (189,836) (207,373) (216,589)52,697 54,145 56,113 58,657 61,367 64,159 66,944 69,678 71,037

(167,581) (175,043) (183,625) (194,576) (205,685) (215,237) (225,216) (235,795) (241,132)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)

(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)(44,455) (47,099) (49,473) (52,142) (54,865) (57,244) (59,603) (62,057) (63,295)

2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 20414.46% 4.46% 4.46% 4.46% 4.46% 4.46% 4.46% 4.46% 4.46% 4.46% 4.46% 4.46%

0.1982 0.1923 0.1866 0.1811 0.1758 0.1706 0.1655 0.1607 0.1559 0.1513 0.1468 0.1425

S(34) S(35) S(36) S(37) S(38) S(39) S(40) S(41) S(42) S(43) S(44) S(45)

2042 2043 2044 2045 20464.46% 4.46% 4.46% 4.46% 4.46%

0.1383 0.1342 0.1302 0.1264 0.1227

Prelim. RBC C-3 Factor: 3.578%

Max. C-3 Factor: 16.778%

S(46) S(47) S(48) S(49) S(50) Max(C-3 Factor,0)1.384%0.429%0.121%2.279%

1.314%0.325%3.761%0.191%

11.259%0.209%

16.778%2.053%1.284%1.444%1.580%1.200%4.253%2.148%1.602%3.260%2.343%3.721%2.908%1.290%1.403%2.995%1.987%1.712%4.380%1.697%1.595%4.616%1.924%2.344%4.041%2.399%3.843%2.896%1.834%2.707%

2.113%2.625%4.268%2.187%3.921%3.298%1.564%2.657%2.084%3.240%