Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 306

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 306
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 participation agreements under this risk rating system are summarized in the following table as of December 31:($ in millions)20242023Pass$3,138 3,168 Special mention9 323 Substandard100 72 Total$3,247 3,563 The net gains (losses) recorded in the Consolidated Statements of Income relating to free-standing derivative instruments used for customer accommodation are summarized in the following table:For the years ended December 31 ($ in millions)Consolidated Statements of Income Caption202420232022Interest rate contracts:Interest rate contracts for customers (contract revenue)Capital markets fees$29 35 48 Interest rate contracts for customers (credit portion of fair value adjustment)Other noninterest expense4 (2)10 Interest rate lock commitmentsMortgage banking net revenue41 52 16 Commodity contracts:Commodity contracts for customers (contract revenue)Capital markets fees18 36 44 Commodity contracts for customers (credit portion of fair value adjustment)Other noninterest expense1 — — Foreign exchange contracts:Foreign exchange contracts for customers (contract revenue)Capital markets fees74 89 70 Foreign exchange contracts for customers (contract revenue)Other noninterest income6 (14)8 Foreign exchange contracts for customers (credit portion of fair value adjustment)Other noninterest expense— 4 (3)Offsetting Derivative Financial InstrumentsThe Bancorp’s derivative transactions are generally governed by ISDA Master Agreements and similar arrangements, which include provisions governing the setoff of assets and liabilities between the parties. When the Bancorp has more than one outstanding derivative transaction with a single counterparty, the setoff provisions contained within these agreements generally allow the non-defaulting party the right to reduce its liability to the defaulting party by amounts eligible for setoff, including the collateral received as well as eligible offsetting transactions with that counterparty, irrespective of the currency, place of payment or booking office. The Bancorp’s policy is to present its derivative assets and derivative liabilities on the Consolidated Balance Sheets on a gross basis, even when provisions allowing for setoff are in place. However, for derivative contracts cleared through certain central clearing parties who have modified their rules to treat variation margin payments as settlements, the fair value of the respective derivative contracts is reported net of the variation margin payments.Collateral amounts included in the tables below consist primarily of cash and highly rated government-backed securities and do not include variation margin payments