Company: CFG-PE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000759944-25-000108
Chunk: 44

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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. Gains and losses on the loans and related commitments, and the derivatives used to economically hedge them, are reported in Mortgage banking fees in the Consolidated Statements of Operations.Residential MSRs are accounted for at fair value. Derivatives utilized to hedge the fair value of residential MSRs include interest rate futures, swaps, options, and forward contracts to purchase mortgage-backed securities. Gains and losses on residential MSRs and the related derivatives are reported in Mortgage banking fees in the Consolidated Statements of Operations.

Citizens Financial Group, Inc. | 65

The following table presents the effect of economic hedges on noninterest income:Amounts Recognized in Noninterest Income for theThree Months Ended June 30,Six Months Ended June 30,Affected Line Item in the Consolidated Statements of Operations(dollars in millions)2025202420252024Economic hedge type:Customer interest rate contracts$70 ($189)$235 ($683)Foreign exchange and derivative productsDerivatives hedging interest rate risk(62)197 (219)700 Foreign exchange and derivative productsCustomer foreign exchange contracts319 (23)417 (133)Foreign exchange and derivative productsDerivatives hedging foreign exchange risk(399)37 (530)182 Foreign exchange and derivative productsCustomer commodity contracts(302)32 41 67 Foreign exchange and derivative productsDerivatives hedging commodity price risk307 (25)(29)(57)Foreign exchange and derivative productsResidential loan commitments3 (5)9 (7)Mortgage banking feesDerivatives hedging residential loan commitments and mortgage loans held for sale, at fair value(1)6 (14)9 Mortgage banking feesDerivative contracts used to hedge residential MSRs5 (18)27 (56)Mortgage banking feesDerivative contracts used to hedge equity price risk11 — 11 — Capital markets feesTotal($49)$12 ($52)$22 

NOTE 9 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables present the changes in the balances, net of income taxes, of each component of AOCI:As of and for the Three Months Ended June 30,(dollars in millions)Net Unrealized Gains (Losses) on Cash Flow HedgesNet Unrealized Gains (Losses) on Investment SecuritiesDefined Benefit PlansTotal AOCIBalance at April 1, 2024