Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 150

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Chunk 150
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 hedges. A one-year look-back period is used to obtain past market data for the models. The average, high and low VaR amounts for the residential MLHFS and related hedges and the MSRs and related hedges were as follows:

| Three Months Ended March 31                                 
 (Dollars in Millions)                                       
 Residential Mortgage Loans Held For Sale and Related Hedges |     |   |   | 2025 |   |   | 2024 |
|:------------------------------------------------------------|:----|:--|--:|:-----|:--|--:|:-----|
| Average                                                     |     | $ | 1 |      | $ | 1 |      |
| High                                                        |     |   | 2 |      |   | 2 |      |
| Low                                                         |     |   | 1 |      |   | 1 |      |
| Mortgage Servicing Rights and Related Hedges                |     |   |   |      |   |   |      |
| Average                                                     |     | $ | 1 |      | $ | 3 |      |
| High                                                        |     |   | 2 |      |   | 3 |      |
| Low                                                         |     |   | 1 |      |   | 2 |      |

Liquidity Risk Management The Company’s liquidity risk management process is designed to identify, measure, and manage the Company’s funding and liquidity risk to meet its daily funding needs and to address expected and unexpected changes in its funding requirements. The Company engages in various activities to manage its liquidity risk. These activities include diversifying its funding sources, stress testing, and holding readily-marketable assets which can be used as a source of liquidity if needed. In addition, the Company’s profitable operations, sound credit quality and strong credit ratings and capital position have enabled it to develop a large and reliable base of core deposit funding within its market areas and in domestic and global capital markets. The Company’s Board of Directors approves the Company’s liquidity policy. The Risk Management Committee of the Company’s Board of Directors oversees the Company’s liquidity risk management process and approves a contingency funding plan. The ALCO reviews the Company’s liquidity policy and limits, and regularly assesses the Company’s ability to meet funding requirements arising from adverse company-specific or market events. The Company regularly projects its funding needs under various stress scenarios and maintains a contingency funding plan consistent with the Company’s access to diversified sources of contingent funding. The Company maintains a substantial level of total available liquidity