Company: KEY-PI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000091576-25-000038
Chunk: 261

Company: KEYCORP /NEW/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 261
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.3 %4.5 %$15,000 $(641)  Receive fixed/pay variable — conventional debt9,818 (470)  3.52.6 4.5 8,976 (395)  Receive fixed/pay variable — forward loans19,200 (114)3.13.8 4.5 4,000 (27)Receive fixed/pay variable — forward debt950 (22)9.23.8 4.5 1,411 (40)Pay fixed/receive variable — conventional debt50 1 3.54.7 3.6 50 1 Pay fixed/receive variable — securities9,405 5 2.84.5 4.1 8,655 (152)Total portfolio swaps$58,173 $(1,042)(a)2.73.2 %4.4 %$38,092 $(1,254)(a)Floors — forward purchased$3,250 $2 1.1— %— %$3,250 $26 Floors — forward sold3,250 (1)1.1— — 3,250 (11)Total floors$6,500 $1 —— %— %$6,500 $15 

(a)Excludes accrued interest of $51 million and $58 million at December 31, 2024, and December 31, 2023, respectively.

Liquidity risk management

Liquidity risk, which is inherent in the banking industry, is measured by our ability to accommodate liability maturities and deposit withdrawals, meet contractual obligations, and fund new business opportunities at a reasonable cost, in a timely manner, and without adverse consequences. Liquidity management involves maintaining sufficient and diverse sources of funding to accommodate planned, as well as unanticipated, changes in assets and liabilities under both normal and adverse conditions.

Governance structure

We manage liquidity for all of our affiliates on a consolidated basis. This approach considers the funding sources available to each entity, as well as each entity’s capacity to manage through adverse conditions. 

The management of consolidated liquidity risk is centralized within Corporate Treasury. Oversight and governance is provided by the Board, the ERM Committee, the ALCO, the TROC, and the Chief Risk Officer. The Asset Liability Management Policy provides the framework for the oversight and management of liquidity