Company: CFG-PE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000759944-25-000108
Chunk: 276

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 276
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 million at December 31, 2024, which may be called at any time during prescribed time periods. The credit exposure is generally limited to the carrying amount of investments made and unfunded capital commitments.

Citizens Financial Group, Inc. | 72

The following tables present a roll forward of assets and liabilities measured at fair value on a recurring basis and classified as Level 3: Three Months Ended June 30, 2025Six Months Ended June 30, 2025(dollars in millions)Mortgage Servicing RightsOther Derivative ContractsMortgage Servicing RightsOther Derivative ContractsBeginning balance$1,397 $5 $1,491 $1 Issuances48 18 75 34 Sales(1)— — (72)— Settlements(2)(40)(11)(79)(27)Changes in fair value recognized in earnings(3)21 3 11 7 Ending balance$1,426 $15 $1,426 $15 Three Months Ended June 30, 2024Six Months Ended June 30, 2024(dollars in millions)Mortgage Servicing RightsOther Derivative ContractsMortgage Servicing RightsOther Derivative ContractsBeginning balance$1,564 $8 $1,552 $7 Issuances25 16 43 29 Settlements(2)(43)(13)(89)(23)Changes in fair value recognized in earnings(3)22 (5)62 (7)Ending balance$1,568 $6 $1,568 $6 (1) For MSRs, represents the sale of the excess servicing yield on MSRs.(2) For MSRs, represents changes in value of the MSRs due to i) the passage of time including the impact from both regularly scheduled loan principal payments and partial paydowns, and ii) loans that paid off during the period. For other derivative contracts, represents the closeout of interest rate lock commitments and other cash payments.(3) Represents changes in fair value primarily driven by market conditions. These changes are recorded in Mortgage banking fees and Other income in the Consolidated Statements of Operations.The following table presents quantitative information about significant unobservable inputs utilized to measure the fair value of Level 3 assets and liabilities:As of June 30, 2025As of December 31, 2024Financial Instrument(1)Valuation TechniqueUnobservable