Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 36

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 7
Chunk 36
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 process and approves a contingency funding plan. The ALCO reviews the Company’s liquidity policy and limits, and regularly assesses the Company’s ability to meet funding requirements arising from adverse company-specific or market events. The Company regularly projects its funding needs under various stress scenarios and maintains a contingency funding plan consistent with the Company’s access to diversified sources of contingent funding. The Company maintains a substantial level of total available liquidity in the form of on-balance sheet and off-balance sheet funding sources. These liquidity sources include cash at the Federal Reserve Bank and certain European central banks, unencumbered liquid assets, and capacity to borrow from the FHLB and at the 

22U.S. Bancorp

Federal Reserve Bank’s Discount Window. Unencumbered liquid assets in the Company’s investment securities portfolio provide asset liquidity through the Company’s ability to sell the securities or pledge and borrow against them. Refer to Note 3 of the Notes to Consolidated Financial Statements and “Balance Sheet Analysis” for further information on investment securities maturities and trends. Asset liquidity is further enhanced by the Company’s practice of pledging loans to access secured borrowing facilities through the FHLB and Federal Reserve Bank.The following table summarizes the Company’s total available liquidity from on-balance sheet and off-balance sheet funding sources: (Dollars in Millions)June 30,2025December 31,2024Cash held at the Federal Reserve Bank and other central banks$48,964 $47,434 Available investment securities59,101 67,910 Borrowing capacity from the Federal Reserve Bank and FHLB189,564 171,226 Total available liquidity$297,629 $286,570 The Company’s diversified deposit base provides a sizeable source of relatively stable and low-cost funding, while reducing the Company’s reliance on the wholesale markets. Total deposits were $518.7 billion at June 30, 2025, compared with $518.3 billion at December 31, 2024. Average noninterest-bearing deposit balances for the second quarter of 2025 decreased 5.2 percent compared with the second quarter of 2024, reflecting the shift of noninterest-bearing balances into interest-bearing deposit products resulting from the higher interest rate environment. Average total deposits for the second quarter of 2025 and second quarter of 2024 funded approximately 75 percent and 77 percent of the Company’s total assets for these same periods, respectively. Refer to “Balance Sheet Analysis” for further information on the