Company: CFG-PE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000759944-25-000070
Chunk: 37

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 37
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 $625 $8 Commercial loans held for sale215 226 (11)192 199 (7)For more information on the election of the fair value option for these assets see Note 20 in the Company’s 2024 Form 10-K.Recurring Fair Value MeasurementsThe Company utilizes a variety of valuation techniques to measure its assets and liabilities at fair value on a recurring basis. For more information on the valuation techniques utilized to measure fair value on a recurring basis, see Note 20 in the Company’s 2024 Form 10-K. 

Citizens Financial Group, Inc. | 63

The following table presents assets and liabilities measured at fair value, including gross derivative assets and liabilities, on a recurring basis at March 31, 2025:(dollars in millions)TotalLevel 1Level 2Level 3Debt securities available for sale:Mortgage-backed securities$30,014 $— $30,014 $— Collateralized loan obligations124 — 124 — State and political subdivisions1 — 1 — U.S. Treasury and other4,069 4,069 — — Total debt securities available for sale34,208 4,069 30,139 — Loans held for sale:Residential loans held for sale922 — 922 — Commercial loans held for sale215 — 215 — Total loans held for sale, at fair value1,137 — 1,137 — Mortgage servicing rights1,397 — — 1,397 Derivative assets:Interest rate contracts459 — 459 — Foreign exchange contracts318 — 318 — Commodities contracts689 — 689 — TBA contracts2 — 2 — Other contracts9 — 1 8 Total derivative assets1,477 — 1,469 8 Equity securities, at fair value(1)178 178 — — Short-term investments55 20 35 — Total assets$38,452 $4,267 $32,780 $1,405 Derivative liabilities:Interest rate contracts$684 $— $684 $— Foreign exchange contracts326 — 326 — Commodities contracts634 — 634 — TBA contracts10 — 10 —