Company: FITBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000035527-25-000137
Chunk: 263

Company: FIFTH THIRD BANCORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 263
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-backed securities and do not include variation margin payments for derivative contracts with legal rights of setoff for both periods shown.The following table provides a summary of offsetting derivative financial instruments:Gross AmountRecognized in theCondensed ConsolidatedBalance Sheets(a)Gross Amounts Not Offset in theCondensed Consolidated Balance SheetsDerivativesCollateral(b)Net AmountAs of March 31, 2025Derivative assets$2,185 (1,218)(301)666 Derivative liabilities2,485 (1,218)(307)960 As of December 31, 2024Derivative assets$2,470 (1,378)(573)519 Derivative liabilities2,798 (1,378)(193)1,227 (a)Amount does not include IRLCs because these instruments are not subject to master netting or similar arrangements.(b)Amount of collateral received as an offset to asset positions or pledged as an offset to liability positions. Collateral values in excess of related derivative amounts recognized in the Condensed Consolidated Balance Sheets were excluded from this table.

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Table of ContentsFifth Third Bancorp and SubsidiariesNotes to Condensed Consolidated Financial Statements (unaudited)

10.  Other Short-Term Borrowings

Borrowings with original maturities of one year or less are classified as short-term. The following table presents a summary of the Bancorp’s other short-term borrowings as of:($ in millions)March 31,2025December 31,2024FHLB advances$5,100 4,100 Securities sold under repurchase agreements293 273 Derivative collateral — 19 Other borrowed money64 58 Total other short-term borrowings$5,457 4,450 The Bancorp’s securities sold under repurchase agreements are accounted for as secured borrowings and are collateralized by securities included in available-for-sale debt and other securities and held-to-maturity securities in the Condensed Consolidated Balance Sheets. These securities are subject to changes in market value and, therefore, the Bancorp may increase or decrease the level of securities pledged as collateral based upon these movements in market value. As of both March 31, 2025 and December 31, 2024, all securities sold under repurchase agreements were secured by agency mortgage-backed securities and the repurchase agreements had an overnight remaining contractual maturity. 

At both March 31, 2025 and December