The IRR management or ALM policy should express IRR measures and limits in terms of gap, earnings (i.e., net income “I], net interest income [NII]), net worth (e.g., mortgage portfolio shock, investment portfolio shock, change in NEV) or a combination of these. For all but the smallest or simplest credit unions, management should establish quantitative IRR measures to alert the credit union of the existence of unacceptable IRR exposure.