Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 106

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7A
Chunk 106
---
 575 564 TBA securities44 — — Foreign exchange contracts38,640 1,165 1,120 Total free-standing derivatives - customer accommodation2,450 2,608 Total derivatives not designated as qualifying hedging instruments2,465 2,782 Total$2,472 2,798 (a)Forward starting swaps will become effective in January and February 2025.(b)Includes forward sale and forward purchase contracts which are utilized to manage market risk on residential mortgage loans held for sale and the related interest rate lock commitments in addition to certain portfolio residential mortgage loans measured at fair value.(c)Derivative assets and liabilities are presented net of variation margin of $257 and $45, respectively.

156 Fifth Third Bancorp

Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Fair ValueDecember 31, 2023 ($ in millions)NotionalAmountDerivativeAssetsDerivativeLiabilitiesDerivatives Designated as Qualifying Hedging Instruments:Fair value hedges:Interest rate swaps related to long-term debt$5,955 — 32 Total fair value hedges— 32 Cash flow hedges:Interest rate floors related to C&I loans3,000 1 — Interest rate swaps related to C&I loans8,000 2 11 Interest rate swaps related to C&I loans - forward starting(a)6,000 6 1 Interest rate swaps related to commercial mortgage and commercial construction loans - forward starting(a)4,000 1 1 Total cash flow hedges10 13 Total derivatives designated as qualifying hedging instruments10 45 Derivatives Not Designated as Qualifying Hedging Instruments:Free-standing derivatives - risk management and other business purposes:Interest rate contracts related to MSR portfolio3,205 81 — Forward contracts related to residential mortgage loans measured at fair value(b)650 — 5 Swap associated with the sale of Visa, Inc. Class B Shares4,178 — 168 Foreign exchange contracts190 — 4 Interest-only strips39 1 — Interest rate contracts for collateral management5,000 1 1 Interest rate contracts for LIBOR transition597 — — Other30 — — Total free-standing derivatives - risk management and other business purposes83 178 Free-standing derivatives - customer accommodation:Interest rate contracts(c)(d)95,079 885