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The concepts of losslessness and maximum available power are basic to the low-sensitivity properties of doubly terminated lossless networks of the continuous-time domain. Based on similar concepts, we develop a new theory for low-sensitivity discrete-time filter structures. The mathematical setup for the development is the bounded-real property of transfer functions and matrices. Starting from this property, we derive procedures for the synthesis of any stable digital filter transfer function by means of a low-sensitivity structure. Most of the structures generated by this approach are interconnections of a basic building block called digital "two-pair," and each two-pair is characterized by a lossless bounded-real (LBR) transfer matrix. The theory and synthesis procedures also cover special cases such as wave digital filters, which are derived from continuous-time networks, and digital lattice structures, which are closely related to unit elements of distributed network theory.