Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 120

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1
Chunk 120
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 debt (parent company only) (a) (b)$1,800 $— $250 $550 $1,000 

(a)Deposits and borrowings exclude accrued interest.

(b)Parent company only amounts are included in the medium- and long-term debt minimum payments above.

In addition to contractual obligations, other commercial commitments of the Corporation impact liquidity. These include unused commitments to extend credit, standby letters of credit and financial guarantees, and commercial letters of credit. The following table summarizes the Corporation's commercial commitments and expected expiration dates by period.

Commercial Commitments

Expected Expiration Dates by Period(in millions)December 31, 2024TotalLess than1 Year1-3Years4-5YearsMore than5 YearsUnused commitments to extend credit$28,398 $6,416 $12,362 $6,002 $3,618 Standby letters of credit and financial guarantees4,138 3,690 340 105 3 Commercial letters of credit12 12 — — — Total commercial commitments$32,548 $10,118 $12,702 $6,107 $3,621 

Since many of these commitments expire without being fully drawn, and each customer must continue to meet the conditions established in the contract, the total amount of these commercial commitments does not necessarily represent the future cash requirements of the Corporation. Refer to Note 8 to the consolidated financial statements for a further discussion of these commercial commitments.

Other Market Risks

Market risk related to the Corporation's trading instruments is not significant, as trading activities are limited. Certain components of the Corporation's noninterest income, primarily fiduciary income, are at risk to fluctuations in the market values of underlying assets, particularly equity and debt securities. Other components of noninterest income, primarily brokerage fees, are at risk to changes in the volume of market activity. 

Operational Risk

Operational risk represents the risk of loss resulting from inadequate or failed internal processes and people, or from external events, excluding in most cases those driven by technology (see Technology Risk below). The Corporation's definition of operational risk includes fraud; employment practice and workplace safety; clients, products and business practice; business continuity or disaster recovery; execution, delivery, and process management; third party and model risks. This definition does not include strategic or reputational risks. Although operational losses are experienced by all companies and are routinely incurred in business operations, the