Company: FITBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000035527-25-000137
Chunk: 130

Company: FIFTH THIRD BANCORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 130
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 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 Condensed 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 for derivative contracts with legal rights of setoff for both periods shown.The following table provides a summary of offsetting derivative financial instruments:Gross AmountRecognized in theCondensed ConsolidatedBalance Sheets(a)Gross Amounts Not Offset in theCondensed Consolidated Balance SheetsDerivativesCollateral(b)Net AmountAs of March 31, 2025Derivative assets$2,185 (1,218)(301)666 Derivative liabilities2,485 (1,218)(307)960 As of December 31, 2024Derivative assets$2,470 (1,378)(573)519 Derivative liabilities2,798 (1,378)(193)1,227 (a)Amount does not include IRLCs because these instruments are not subject to master netting or similar arrangements.(b)Amount of collateral received as an offset to asset positions or pledged as an offset to liability positions. Collateral values in excess of related derivative amounts recognized in the Condensed Consolidated Balance Sheets were excluded from this table.

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Table of ContentsFifth Third Bancorp and SubsidiariesNotes to Condensed Consolidated Financial Statements (unaudited)

10.  Other Short-Term Borrowings

Borrowings with original maturities of one year or less are classified as short-term. The following table presents a summary of the Bancorp’s other short-term borrowings as of:($ in millions)March 31,2025December 31,2024FHLB advances$5,100 4,100 Securities sold under repurchase agreements293 273 Derivative collateral — 19 Other borrowed money64 58 Total other short-term borrowings$5,457 4,450