Company: CMA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000028412-25-000235
Chunk: 190

Company: COMERICA INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 190
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 rates and fair value hedging strategies that convert fixed-rate medium- and long-term debt to variable rates. Interest and fees on loans included net expense from cash flow swaps of $85 million and $178 million for the three-month periods ended September 30, 2025 and 2024, respectively, and $246 million and $522 million of cash flow hedge losses for the nine-month periods ended September 30, 2025 and 2024, respectively.The following table details the effects of fair value hedging on the Consolidated Statements of Comprehensive Income.Interest on Medium- and Long-Term Debt Three Months Ended September 30,Nine Months Ended September 30,(in millions)2025202420252024Total interest on medium- and long-term debt (a)$81 $117 $261 $358 Fair value hedging relationships: Interest rate contracts:Hedged items68 84 219 252 Derivatives designated as hedging instruments13 33 42 106 (a) Includes the effects of hedging.    The following tables summarize the expected weighted average remaining maturity of the notional amount of risk management interest rate swaps, the weighted average interest rates associated with amounts expected to be received or paid on interest rate swap agreements, and for fair value swaps, the carrying amount of the related hedged items, as of September 30, 2025 and December 31, 2024.Cash flow swaps - receive fixed/pay floating rate on variable-rate loansSeptember 30, 2025December 31, 2024Weighted average:Time to maturity (in years)2.53.1Receive rate2.58  %2.55  %Pay rate (a)4.32 4.55 (a)Variable rates paid on receive fixed swaps designated as cash flow hedges were based on Secured Overnight Financing Rate (SOFR) rates in effect at September 30, 2025 and December 31, 2024.Fair value swaps - receive fixed/pay floating rate on medium- and long-term debt(dollar amounts in millions)September 30, 2025December 31, 2024Carrying value of hedged items (a)$5,422 $6,673 Weighted average:Time to maturity (in years)2.42.6Receive rate (b)3.68  %3.77  %Pay rate (b)4.46 4