Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 355

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 355
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 be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP also establishes a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. For more information regarding the fair value hierarchy and how the Bancorp measures fair value, refer to Note 1.Assets and Liabilities Measured at Fair Value on a Recurring Basis The following tables summarize assets and liabilities measured at fair value on a recurring basis as of:Fair Value Measurements UsingDecember 31, 2024 ($ in millions)     Level 1     Level 2   Level 3     Total Fair ValueAssets:   Available-for-sale debt and other securities:U.S. Treasury and federal agencies securities$4,360 — — 4,360 Obligations of states and political subdivisions securities— — — — Mortgage-backed securities:Agency residential mortgage-backed securities— 5,681 — 5,681 Agency commercial mortgage-backed securities— 20,832 — 20,832           Non-agency commercial mortgage-backed securities— 4,167 — 4,167 Asset-backed securities and other debt securities— 3,729 — 3,729 Available-for-sale debt and other securities(a)4,360 34,409 — 38,769 Trading debt securities:U.S. Treasury and federal agencies securities591 35 — 626 Obligations of states and political subdivisions securities— 120 — 120 Agency residential mortgage-backed securities— 10 — 10 Asset-backed securities and other debt securities— 429 — 429 Trading debt securities591 594 — 1,185 Equity securities307 34 — 341 Residential mortgage loans held for sale— 574 — 574 Residential mortgage loans(b)— — 108 108 Servicing rights— — 1,704 1,704 Derivative assets:Interest rate contracts7 721 2 730 Foreign exchange contracts— 1,167 — 1,167 Commodity contracts75 500 — 575 Derivative assets(c)82 2,388 2 2,472 Total assets$5,340 37,999 1,814 45,