Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 423

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 423
---
1,717 1,929 Consumer loans447 134 431,647 2,271 Total$16,440 $26,346 $4,221 $3,532 $50,539 

(a)Includes demand loans, loans having no stated repayment schedule or maturity and overdrafts.

The interest rate composition of loans with a maturity date over one year are presented below based on contractual terms.

Loans Maturing After One Year(in millions)December 31, 2024Predetermined (Fixed) Interest RateFloating Interest RateTotalCommercial loans$307 $16,312 $16,619 Real estate construction loans51 2,342 2,393 Commercial mortgage loans1,591 8,689 10,280 Lease financing241 344 585 International loans1 488 489 Residential mortgage loans576 1,333 1,909 Consumer loans21 1,803 1,824 Total$2,788 $31,311 $34,099 

F-30

Risk Management Derivative Instruments

The Corporation uses investment securities and derivative instruments as asset and liability management tools with the overall objective of managing the volatility of net interest income from changes in interest rates. These tools assist management in achieving the desired interest rate risk management objectives. Activity related to derivative instruments currently involves interest rate swaps effectively converting variable rate loans to a fixed rate and fixed-rate medium- and long-term debt to a floating rate. Notional activity for 2023 included the impact of LIBOR transition for centrally-cleared swaps, where LIBOR-based swaps were replaced with short-dated LIBOR bridge swaps that matured in 2023 and surviving forward-starting Secured Overnight Financing Rate (SOFR) swaps. In a similar manner, notional activity for 2024 included the impact of BSBY cessation, where existing BSBY-based swaps were replaced with short-dated BSBY swaps that matured in 2024 and surviving forward-starting SOFR swaps.

(in millions)Risk Management Notional ActivityInterestRateContractsForeignExchangeContractsTotalsBalance at January 1, 2023$29,750 $392 $30,142 Additions17,100 9,534 26,634 Maturities/amortizations(9,150)(9,366)(18,516)Terminations(6,550)— (6,550)Balance at December 31