Company: KEY-PI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000091576-25-000038
Chunk: 102

Company: KEYCORP /NEW/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 102
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-sale and held-to-maturity portfolios, are presented based on their remaining contractual maturity. Actual maturities may differ from expected or contractual maturities since borrowers have the right to prepay obligations with or without prepayment penalties. SecuritiesAvailable for SaleHeld-to-MaturitySecuritiesDecember 31, 2024AmortizedCostFairValueAmortizedCostFairValueDollars in millionsDue in one year or less$3,184 $3,175 $85 $82 Due after one through five years11,340 10,895 2,805 2,680 Due after five through ten years17,352 15,405 2,674 2,463 Due after ten years9,426 8,232 1,831 1,612 Total$41,302 $37,707 $7,395 $6,837 

8. Derivatives and Hedging Activities We are a party to various derivative instruments, mainly through our subsidiary, KeyBank. The primary derivatives that we use are interest rate swaps, caps, floors, forwards and futures; foreign exchange contracts; commodity derivatives; and credit derivatives. Generally, these instruments help us manage exposure to interest rate risk, mitigate the credit risk inherent in our loan portfolio, hedge against changes in foreign currency exchange rates, and meet client financing and hedging needs. As further discussed in this note: •interest rate risk is the risk that the EVE or net interest income will be adversely affected by fluctuations in interest rates;•credit risk is the risk of loss arising from an obligor’s inability or failure to meet contractual payment or performance terms; and•foreign exchange risk is the risk that an exchange rate will adversely affect the fair value of a financial instrument.At December 31, 2024, after taking into account the effects of bilateral collateral and master netting agreements, we had $(6) million of derivative assets in a negative fair value position and less than $1 million of derivative liabilities that relate to contracts designated as hedging instruments. As a result of bilateral collateral and master netting arrangements, which are applied at the counterparty level, we could have derivative contracts with negative fair values included in derivative assets and contracts with positive fair values in derivative liabilities related to counterparties with which we have both hedging and trading derivatives.  As of the same date, after taking into account the effects of bilateral collateral and master netting agreements and a reserve for potential future losses,