Company: USB-PA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000036104-25-000064
Chunk: 116

Company: US BANCORP \DE\
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 116
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 as well as the Company’s assessment of the counterparty’s credit position. At September 30, 2025, the minimum, maximum and weighted-average credit valuation adjustment as a percentage of the net fair value of the counterparty’s derivative contracts prior to adjustment was 0 percent, 248 percent and 2 percent, respectively. The significant unobservable inputs used in the fair value measurement of the Visa swaps are management’s estimate of the probability of certain litigation scenarios occurring, and the timing of the resolution of the related litigation loss estimates in excess, or shortfall, of the Company’s proportional share of escrow funds. An increase in the loss estimate or a delay in the resolution of the related litigation would have resulted in an increase in the derivative liability. A decrease in the loss estimate or an acceleration of the resolution of the related litigation would have resulted in a decrease in the derivative liability. 

U.S. Bancorp67

The following table summarizes the balances of assets and liabilities measured at fair value on a recurring basis: (Dollars in Millions)Level 1Level 2Level 3Netting TotalSeptember 30, 2025     Available-for-sale securities     U.S. Treasury and agencies$22,355 $4,713 $— $— $27,068 Mortgage-backed securities     Residential agency— 37,677 — — 37,677 Commercial     Agency— 7,694 — — 7,694 Non-agency— 7 — — 7 Asset-backed securities— 6,865 — — 6,865 Obligations of state and political subdivisions— 9,486 — — 9,486 Other— 268 — — 268 Total available-for-sale22,355 66,710 — — 89,065 Mortgage loans held for sale— 2,288 — — 2,288 Mortgage servicing rights— — 3,289 — 3,289 Derivative assets92 4,797 2,083 (3,282)3,690 Other assets412 2,725 — — 3,137 Total$22,859 $76,520 $5,372 $(3,282)$101,469 Time deposits$— $4,924 $— $— $