Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 205

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Chunk 205
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      |   |   -90 |      |                  |  -158 |      |   |  -171 |      |
| Balance at end of period                        |     | $                  | 3,305 |      | $ | 3,326 |      | $                | 3,305 |      | $ | 3,326 |      |

(a) Includes changes in MSR value associated with changes in market interest rates, including estimated prepayment rates and anticipated earnings on escrow deposits.

(b) Includes changes in MSR value not caused by changes in market interest rates, such as changes in assumed cost to service, ancillary income and option adjusted spread, as well as the impact of any model changes.

(c) Primarily the change in MSR value from passage of time and cash flows realized (decay), but also includes the impact of changes to expected cash flows not associated with changes in market interest rates, such as the impact of delinquencies.

The estimated sensitivity to changes in interest rates of the fair value of the MSR portfolio and the related derivative instruments was as follows:

|                              |     |   | June 30, 2025 |         |   |      |        |   |     |        |   |     |        |   |      |        |   |      |         |   | December 31, 2024 |         |   |      |        |   |     |        |   |     |        |   |      |        |   |      |         |
|:-----------------------------|:----|:--|--------------:|--------:|:--|-----:|-------:|:--|----:|-------:|:--|----:|:-------|:--|-----:|:-------|:--|-----:|:--------|:--|------------------:|--------:|:--|-----:|-------:|:--|----:|-------:|:--|----:|:-------|:--|-----:|:-------|:--|-----:|:--------|
| (Dollars in Millions)        |     |   |               |    Down 
 100 bps |   |      |   Down 
 50 bps |   |     |   Down 
 25 bps |   |     | Up     
 25 bps |   |      | Up     
 50 bps |   |      | Up      
 100 bps |   |                   |    Down