Company: KEY-PI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048757
Chunk: 266

Company: KEYCORP /NEW/
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 8
Chunk 266
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 $— $(16)$9 Nine months ended September 30, 2025Nine months ended September 30, 2024Dollars in millionsCorporateservicesincomeConsumer mortgage incomeOther incomeTotalCorporate services incomeConsumer mortgage incomeOther incomeTotalNET GAINS (LOSSES)Interest rate$36 $— $6 $42 $27 $— $4 $31 Foreign exchange35 — — 35 39 — — 39 Commodity5 — — 5 9 — — 9 Credit— — (33)(33)1 — (36)(35)Other— (1)(7)(8)— 1 9 10 Total net gains (losses)$76 $(1)$(34)$41 $76 $1 $(23)$54 Counterparty Credit RiskWe hold collateral in the form of cash and highly rated securities issued by the U.S. Treasury, government-sponsored enterprises, or GNMA. Cash collateral of $77 million was netted against derivative assets on the balance sheet at September 30, 2025, compared to $75 million of cash collateral netted against derivative assets at December 31, 2024. The cash collateral netted against derivative liabilities totaled $82 million at September 30, 2025, and $124 million at December 31, 2024. Our means of mitigating and managing exposure to credit risk on derivative contracts is described in Note 8 (“Derivatives and Hedging Activities”) beginning on page 144 of our 2024 Form 10-K under the heading “Counterparty Credit Risk.”The following table summarizes the fair value of our derivative assets by type at the dates indicated. These assets represent our net exposure to potential loss after taking into account the effects of bilateral collateral and master netting agreements and other means used to mitigate risk.Dollars in millionsSeptember 30, 2025December 31, 2024Interest rate$115 $58 Foreign exchange68 81 Commodity107 170 Credit— — Other17 15 Derivative assets before collateral307 324 Plus(Less): Related collateral(77)(75)Total derivative assets$230 $249 We enter into derivative transactions with two primary groups: broker-dealers and banks, and clients. Given that these groups have different economic characteristics, we have