Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 44

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 44
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 third-party dealers. Derivative instruments that are cleared through certain central counterparty clearing houses are settled-to-market and reported net of collateral positions.Refer to Note 11—Fair Value for further information on derivatives. The following table presents notional amounts and fair values of derivative financial instruments:  Notional Amount and Fair Value of Derivative Financial Instrumentsdollars in millionsMarch 31, 2025December 31, 2024Notional AmountAsset Fair ValueLiability Fair ValueNotional AmountAsset Fair ValueLiability Fair ValueDerivatives designated as hedging instruments (Qualifying hedges)Fair Value HedgesInterest rate contracts hedging time deposits$134 $— $— $334 $— $— Interest rate contracts hedging long-term borrowings400 — — 750 — — Total fair value hedges (1) (2)534 — — 1,084 — — Cash Flow HedgesInterest rate contracts hedging loans (1) (2)4,000 1 — 3,500 1 — Total derivatives designated as hedging instruments$4,534 $1 $— $4,584 $1 $— Derivatives not designated as hedging instruments (Non-qualifying hedges)Interest rate contracts (1) (2)$26,924 $428 $(433)$26,235 $491 $(516)Foreign exchange contracts (3)9,971 108 (107)7,843 152 (108)Other contracts (4)1,419 16 (1)1,316 16 (1)Total derivatives not designated as hedging instruments$38,314 $552 $(541)$35,394 $659 $(625)Gross derivatives fair values presented in the Consolidated Balance Sheets$553 $(541)$660 $(625)Less: gross amounts offset in the Consolidated Balance Sheets— — — — Net amount presented in other assets and other liabilities in the Consolidated Balance Sheets$553 $(541)$660 $(625)(1)    Fair value balances include accrued interest.(2)    BancShares accounts for swap contracts cleared by the Chicago Mercantile Exchange and LCH Clearnet as “settled-to-market.” As a result, the derivative asset and liability fair values in the table above are presented net of the variation margin payments