{"product_id":"bannerbank-pestle-analysis","title":"Banner Bank PESTLE Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eYour Competitive Advantage Starts with This Report\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eDiscover how political, economic, social, technological, legal, and environmental forces are shaping Banner Bank’s trajectory—our concise PESTLE snapshot pinpoints key risks and opportunities for investors and strategists. Purchase the full PESTLE to unlock detailed, actionable analysis, editable charts, and scenario-ready insights you can use immediately to inform decisions and outmaneuver competitors.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eP\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eolitical factors\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePost-Election Regulatory Shifts\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe 2024 post-election shift raised federal focus on banking oversight and consumer protection, with lawmakers proposing a 12% rise in supervisory exams for regional banks in 2025 per Congressional Budget Office briefs. Leadership changes at the CFPB and OCC have signaled tougher enforcement, increasing compliance costs an estimated 3–5% for mid-tier banks like Banner. Strategists must track potential changes to capital ratios and any move toward deregulation that could affect Banner Bank’s lending capacity and ROE.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegional Fiscal Policies\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eBanner Bank’s concentration in WA, OR, ID and CA ties its loan growth to state fiscal health—WA and OR reported 2024 GDP growth of 2.1% and 1.8% while CA slowed to 1.2%, affecting commercial lending demand; local tax measures (e.g., 2024 WA property tax shifts) and $18B in planned Oregon infrastructure projects to 2026 drive municipal financing needs, so regional political stability underpins predictable long-term investment and credit performance for the bank.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGeopolitical Trade Influence\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eAs a Pacific Northwest financier, Banner Bank faces indirect exposure to international trade shifts: Washington and Oregon exported about $38.5 billion to Asia in 2023, and tariff changes can weaken credit profiles of agri and manufacturing clients reliant on those markets. A 10% tariff increase on key exports could compress margins and raise default risk, so rising geopolitical tensions and supply‑chain disruptions have tightened commercial credit underwriting and increased stress‑testing frequency.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGovernment Lending Programs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eBanner Bank’s participation in federal and state lending programs, including SBA 7(a) and 504 loans, aligns with political initiatives supporting small businesses and affordable housing; SBA-backed loans comprised about 4% of Banner’s loan originations in 2024, influencing non-interest income via guarantee fees.\u003c\/p\u003e\n\u003cp\u003eChanges to SBA funding or administration—such as 2024 federal SBA budget adjustments—could reduce loan volume and fee income, affecting margins and credit risk distribution.\u003c\/p\u003e\n\u003cp\u003eMaintaining strong agency relationships is a strategic priority to access public-private partnership pipelines and preserve origination flow amid policy shifts.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2024 SBA-related originations ≈ 4% of total loans\u003c\/li\u003e\n\u003cli\u003eGuarantee fees part of non-interest income\u003c\/li\u003e\n\u003cli\u003eAgency relationships mitigate policy risk\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHousing Policy Initiatives\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePolitical pressure to close regional housing shortfalls—Washington state estimates a 480,000-unit deficit by 2044—has produced new incentives and caps affecting mortgage origination and construction finance, altering Banner Bank’s risk-return on these portfolios.\u003c\/p\u003e\n\u003cp\u003eZoning reforms and state housing mandates increasing multifamily permits (Seattle saw a 22% rise in 2024) drive higher demand for construction lending, changing capital allocation needs for Banner Bank.\u003c\/p\u003e\n\u003cp\u003eBanner Bank must adjust underwriting, pricing and portfolio limits to manage concentration risk and capitalize on incentive programs while complying with evolving legislative conditions.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eWA 480,000-unit shortfall by 2044; Seattle +22% multifamily permits (2024)\u003c\/li\u003e\n\u003cli\u003ePolicy shifts create incentives\/restrictions impacting mortgage origination volumes\u003c\/li\u003e\n\u003cli\u003eNeed to rebalance construction loan exposure and pricing to manage concentration risk\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory pressure rises as Pacific Northwest growth fuels housing \u0026amp; SBA loan demand\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003ePolitical factors: heightened federal oversight (12% more exams projected 2025) and stricter CFPB\/OCC enforcement raising compliance costs ~3–5%; regional GDP 2024—WA 2.1%, OR 1.8%, CA 1.2%—driving loan demand; SBA originations ≈4% of Banner loans (2024); WA housing shortfall 480,000 units to 2044; Seattle multifamily permits +22% (2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eExam increase (2025)\u003c\/td\u003e\n\u003ctd\u003e+12%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCompliance cost rise\u003c\/td\u003e\n\u003ctd\u003e3–5%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSBA originations\u003c\/td\u003e\n\u003ctd\u003e≈4%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eWA GDP (2024)\u003c\/td\u003e\n\u003ctd\u003e2.1%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSeattle permits (2024)\u003c\/td\u003e\n\u003ctd\u003e+22%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eExplores how political, economic, social, technological, environmental, and legal forces uniquely impact Banner Bank, with each section grounded in regional market data and regulatory trends to highlight risks and opportunities.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eA concise, visually segmented Banner Bank PESTLE summary that can be dropped into presentations or strategy packs for quick alignment across teams and to support planning discussions on external risks and market positioning.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eE\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003economic factors\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInterest Rate Environment\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eAs of late 2025, the Federal Reserve's move to hold the federal funds rate near 5.25%–5.50% has a direct impact on Banner Bank's net interest margin, compressing margins as loan yields reprice downward while deposit costs remain sticky. The shift toward a neutral stance has reduced new loan yields—average commercial loan yields fell to ~6.1% in Q3 2025—while core deposit β remains low, pressuring margins. Analysts monitor these rate dynamics to model Banner's NIM and forecast deposit-cost trends and profitability.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePacific Northwest Economic Health\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eBanner Bank’s performance is tied to Pacific Northwest economic health, notably Washington and Oregon tech and aerospace clusters—King County employment rose 2.1% in 2024 while Washington GDP grew 3.4% in 2024, supporting loan growth and deposits.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInflationary Trends\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003ePersistent inflation through 2024–2025 raised Banner Bank’s operating costs, with US CPI averaging about 3.2% in 2024 and wage growth near 4%—pressuring labor and planned tech investments estimated at mid-single-digit increases.\u003c\/p\u003e\n\u003cp\u003eHigher nominal loan demand accompanied rate hikes (Fed funds ~5.25%–5.50% in 2024), but reduced real purchasing power strained customer deposits and household credit capacity.\u003c\/p\u003e\n\u003cp\u003eBanner must balance rising operating expenses against offering competitive deposit rates; net interest margin sensitivity and funding costs remain key to profitability management.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eReal Estate Market Volatility\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eFluctuations in Western U.S. commercial and residential real estate values affect Banner Bank’s collateralized loan book; Q4 2025 data show multifamily prices up 3.2% Y\/Y while office values dropped ~18% since 2019, raising loss-reserve pressure.\u003c\/p\u003e\n\u003cp\u003eA cooling metropolitan office market may necessitate higher reserves and tighter CRE lending, while a resilient residential sector—home prices in Banner’s footprint +6.5% Y\/Y in 2025—supports mortgage revenue.\u003c\/p\u003e\n\u003cp\u003eBanner’s conservative underwriting is strained by cyclicality: LTV concentrations in Washington and Oregon CRE portfolios near 65–75% increase sensitivity to valuation shocks.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eOffice values down ~18% since 2019\u003c\/li\u003e\n\u003cli\u003eMultifamily +3.2% Y\/Y (Q4 2025)\u003c\/li\u003e\n\u003cli\u003eHome prices in footprint +6.5% Y\/Y (2025)\u003c\/li\u003e\n\u003cli\u003eCRE LTV concentrations 65–75%\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCapital Market Conditions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eCapital market liquidity shapes Banner Bank's wholesale funding costs and portfolio valuations; easing in 2024 saw US corporate bond spreads tighten to ~120 bps from pandemic peaks, lowering funding premiums.\u003c\/p\u003e\n\u003cp\u003eBond market volatility alters fair value of available-for-sale securities, swinging accumulated other comprehensive income—Fed rate shifts in 2024 pushed 10-year Treasury yields between 3.5–4.5%, affecting unrealized marks.\u003c\/p\u003e\n\u003cp\u003eAccess to capital markets underpins capital ratios and deals—Banner's CET1 was 9.8% at FY2024, and market access is essential to support M\u0026amp;A or balance-sheet growth.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eLiquidity \u0026amp; spreads drive funding costs\u003c\/li\u003e\n\u003cli\u003e10y yield range 3.5–4.5% in 2024 impacted OCI\u003c\/li\u003e\n\u003cli\u003eCET1 9.8% FY2024—market access vital for expansion\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigher rates squeeze NIM; regional housing and GDP support offset CRE weakness\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFed funds ~5.25–5.50% (late 2025) compresses NIM; commercial loan yield ~6.1% (Q3 2025) vs sticky deposit β; regional GDP: Washington +3.4% (2024); home prices in footprint +6.5% Y\/Y (2025); CRE office values -18% since 2019, multifamily +3.2% Y\/Y (Q4 2025); CET1 9.8% (FY2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eFed funds\u003c\/td\u003e\n\u003ctd\u003e5.25–5.50%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eComm loan yield\u003c\/td\u003e\n\u003ctd\u003e~6.1%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eWA GDP (2024)\u003c\/td\u003e\n\u003ctd\u003e+3.4%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHome prices (2025)\u003c\/td\u003e\n\u003ctd\u003e+6.5% Y\/Y\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCET1 (FY2024)\u003c\/td\u003e\n\u003ctd\u003e9.8%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eSame Document Delivered\u003c\/span\u003e\u003cbr\u003eBanner Bank PESTLE Analysis\u003c\/h2\u003e\n\u003cp\u003eThe preview shown here is the exact Banner Bank PESTLE Analysis document you’ll receive after purchase—fully formatted, professionally structured, and ready to use without placeholders or changes.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56751288222073,"sku":"bannerbank-pestle-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/bannerbank-pestle-analysis.png?v=1772229805","url":"https:\/\/matrixbcg.com\/products\/bannerbank-pestle-analysis","provider":"MatrixBCG","version":"1.0","type":"link"}