Company: KEY-PI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000091576-25-000038
Chunk: 144

Company: KEYCORP /NEW/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 144
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 1,090 Weighted-average rate during the year 2.61 %4.77 %1.66 %Weighted-average rate at December 313.15 1.63 3.74 OTHER SHORT-TERM BORROWINGSBalance at year end$2,130 $3,053 $5,386 Average during the year2,984 5,890 2,963 Maximum month-end balance6,794 1,061 11,372 Weighted-average rate during the year 5.49 %5.24 %1.82 %Weighted-average rate at December 314.95 5.58 .50 As described below and in Note 20 (“Long-Term Debt”), KeyCorp and KeyBank have a number of programs and facilities that support our short-term financing needs. Certain subsidiaries maintain credit facilities with third parties, which provide alternative sources of funding. KeyCorp is the guarantor of some of the third-party facilities.Short-term credit facilities.  We maintain cash on deposit in our Federal Reserve account, which can reduce our need to obtain funds through various short-term unsecured money market products. This account, which was maintained at $17.4 billion at December 31, 2024, and the unpledged securities in our investment portfolio provide a buffer to address unexpected short-term liquidity needs. We also have secured borrowing facilities at the FHLB and the Federal Reserve Bank of Cleveland to satisfy short-term liquidity requirements. As of December 31, 2024, our unused secured borrowing capacity was $36.7 billion at the Federal Reserve Bank of Cleveland and $18.9 billion at the FHLB.

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20. Long-Term Debt The following table presents the components of our long-term debt, net of unamortized discounts and adjustments related to hedging with derivative financial instruments. We use interest rate swaps and caps, which modify the repricing characteristics of certain long-term debt, to manage interest rate risk. For more information about such financial instruments, see Note 8 (“Derivatives and Hedging Activities”). December 31,  Dollars in millions20242023Senior medium-term notes due through 2035 (a)$4,251 $3,870 2.075% Subordinated notes due 2028 (b)162 162 6.875% Subordinated notes due 2029 (b)89 91 7.75