Company: FITBI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0000035527-25-000212
Chunk: 303

Company: FIFTH THIRD BANCORP
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 1
Chunk 303
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 contracts for LIBOR transition597 — — Other43 — — Total free-standing derivatives – risk management and other business purposes15 174 Free-standing derivatives – customer accommodation:Interest rate contracts(c)87,928 708 924 Interest rate lock commitments264 2 — Commodity contracts16,889 575 564 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 became 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 $45, respectively.Fair Value HedgesThe Bancorp may enter into interest rate swaps to convert its fixed-rate funding to floating-rate or to hedge the exposure to changes in fair value of a recognized asset attributable to changes in the benchmark interest rate. The following table reflects the changes in fair value of interest rate contracts, designated as fair value hedges and the changes in fair value of the related hedged items attributable to the risk being hedged, as well as the line items in the Condensed Consolidated Statements of Income in which the corresponding gains or losses are recorded:Condensed ConsolidatedStatements ofIncome CaptionFor the three months endedSeptember 30,For the nine months endedSeptember 30,($ in millions)2025202420252024Long-term debt:Change in fair value of interest rate swaps hedging long-term debtInterest on long-term debt$14 190 120 76 Change in fair value of hedged long-term debt attributable to the risk being hedgedInterest on long-term debt(14)(190)(120)(76)

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

The following amounts were recorded in the Condensed Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of:($ in millions)Condensed ConsolidatedBalance Sheets CaptionSeptember 30,2025December 31,2024Long-term debt:Carrying amount