We undertake no obligation to update publicly or revise any forward-looking statements. In the few instances where a review has found inconsistencies, we have made adjustments. Marrs (47) has been President, Global Commercial Services since September 2018. In August 2020, the SCB requirement for the Company was set at 2.5 percent. As under the FDIC resolution model, under the OLA, the FDIC has broad power as receiver. We believe these cards were used only for personal expenses. The risks and uncertainties we face are not limited to those described below. We may also choose to not renew certain cobrand relationships. Arrangements with our business partners represent a significant portion of our business. Our success is, in many ways, dependent on the success of our partners. Such events could also result in legislation and additional regulatory requirements. Similar AML requirements apply under the laws of most jurisdictions where we operate. Interest rate changes could materially adversely affect our earnings. The information to be found under such caption is incorporated herein by reference. Refer to Note 3 to the "Consolidated Financial Statements" for further information. Cobrand rewards expense also reflected the impact of the Delta changes described above. The effective tax rate for 2019 was 19.8 percent. Prior period amounts have been revised to conform to the current period presentation. Business" for additional discussion of products and services that comprise each segment. See Tables 5, 6 and 10 for more details on billed business performance. In addition, GCS provides payment, expense management and commercial financing products. GMNS also manages loyalty coalition businesses. CET1 is also adjusted for the CECL final rules, as described below. Business - Supervision and Regulation" for additional details. We also have additional financing needs associated with general corporate purposes. Many of these factors are beyond our control. As of December 31, 2020, we had $86.9 billion in deposits. The program also defines our risk appetite, governance, culture and capabilities. The implementation and execution of the ERM program is headed by our Chief Risk Officer. Our credit risks are divided into two broad categories: individual and institutional. Each has distinct risk management capabilities, strategies, and tools. Funding and Liquidity risk is managed by the Funding and Liquidity Committee. We manage country risk as part of the normal course of business. These quantitative and qualitative components entail a significant amount of judgment. These assessments are performed quarterly, taking into account any new information. The average discount rate, together with billed business, drive our discount revenue. Such revolving balances are included within Card Member loans. Charge Card Members generally must pay the full amount billed each month. No finance charges are assessed on charge cards. We undertake no obligation to update or revise any forward-looking statements. We consolidate entities in which we hold a "controlling financial interest." These estimates are based, in part, on management's assumptions concerning future events. We do not separate lease and non-lease components. These amounts are shown above as 90+ Days Past Due for presentation purposes. Therefore, such data has not been utilized for risk management purposes. Prior period balances were not significant. 8226;EAD models are used to estimate the balance of an acc
