Company: CFG-PE
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000759944-25-000013
Chunk: 741

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-02-13
Form: 10-K
Item: Item 4
Chunk 741
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4.5 %$5,365 6.2 3.8 %5.4 %Liability conversion swaps:Long-term borrowed funds:Receive fixed/pay SOFR500 0.9 2.6 4.8 500 1.9 2.6 5.6 Total fair value hedges8,327 5,865 Cash flow hedges:Asset conversion swaps:Loans:SwapsReceive fixed/pay SOFR26,250 1.7 3.1 4.5 17,780 0.8 4.0 5.4 Receive fixed/pay SOFR - forward-starting20,000 3.5 3.7 4.0 31,250 2.9 3.3 4.6 Basis swapsReceive SOFR/pay 1-month term SOFR11,500 1.6 — 4.5/4.35,000 1.0 — 5.3/5.3Receive SOFR/pay 1-month term SOFR - forward-starting3,000 2.4 — 4.0/4.014,000 2.7 — 5.2/5.1Floor RateCap RateFloor RateCap RateOptionsInterest rate collars(1)— — — — 1,000 1.5 2.5 3.7 Interest rate collars - forward-starting(1)— — — — 500 2.5 2.7 4.4 Floor spreads - forward-starting(2)— — — — 2,500 2.8 2.2/3.2— Total cash flow hedges60,750 72,030 Total hedges$69,077 $77,895 

(1) Weighted average floor and cap rates represent strike rates through which CFG will receive interest if the SOFR rate falls below the floor strike rate and pay interest if the SOFR rate exceeds the cap strike rate.

(2) Weighted average floor rate represents strike rates for the short and long interest rate floors, respectively. CFG will receive interest if the SOFR rate falls below the upper strike rate and pay interest if the SOFR rate falls below the lower strike rate, effectively hedging the corridor between the two strike rates. The structure also includes a short cap and a