Company: KEY-PI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000091576-25-000110
Chunk: 190

Company: KEYCORP /NEW/
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 190
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 the credit risk inherent in our loan portfolio, hedge against changes in foreign currency exchange rates, and facilitate client financing and hedging needs.Additional information regarding our accounting policies for derivatives is provided in Note 1 (“Summary of Significant Accounting Policies”) under the heading “Derivatives and Hedging” beginning on page 115 of our 2024 Form 10-K. Our derivative strategies and related risk management objectives are described in Note 8 (“Derivatives and Hedging Activities”) beginning on page 144 of our 2024 Form 10-K.Fair Values, Volume of Activity, and Gain/Loss Information Related to Derivative InstrumentsThe following table summarizes the fair values of our derivative instruments on a gross and net basis as of June 30, 2025, and December 31, 2024. Total derivative assets and liabilities are adjusted to take into account the impact of legally enforceable master netting agreements that allow us to settle all derivative contracts with a single counterparty on a net basis and to offset the net derivative position with the related cash collateral. Securities collateral related to legally enforceable master netting agreements is not offset on the balance sheet. Our derivative instruments are included in “accrued income and other assets” or “accrued expenses and other liabilities” on the Consolidated Balance Sheets, as follows: June 30, 2025December 31, 2024  Fair Value(a) Fair Value(a)Dollars in millionsNotionalAmountDerivativeAssetsDerivativeLiabilitiesNotionalAmountDerivativeAssetsDerivativeLiabilitiesDerivatives designated as hedging instruments:Interest rate$64,765 $7 $(17)$64,701 $(4)$3 Derivatives not designated as hedging instruments:Interest rate68,569 129 644 72,215 114 962 Foreign exchange6,284 125 118 6,516 124 117 Commodity7,756 383 367 8,778 363 343 Credit64 — — 60 — — Other (b)3,562 14 25 3,145 15 14 Total derivatives not designated as hedging instruments: 86,235 651 1,154 90,714 616 1,436 Netting adjustments (c)— (388)(454)— (363)(411)Net derivatives in the balance sheet151,000 270