Although gap may still be used in some institutions, it is an outdated procedure that has been replaced by far more effective analytical procedures such as multi-period income simulation and net economic value (NEV). The gap approach attempts to determine the volume of assets and liabilities that reprice within specified periods but it does not consider the timing or magnitude of the repricing that may occur during those periods. This is a major defect because it is well-recognized that many assets and liabilities reprice differently for a given change in market rates. The repricing of some assets, for example, is market-driven which means that the new pricing is beyond the control of management. The Home Equity Line of Credit (HELOC) contractually tied to the prime rate is an example. In contrast, some liabilities are driven by a combination of market forces and managerial behavior. When interest rates increase, management may choose to delay raising the share rate and then raise it only in small increments