Company: KEY-PI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000091576-25-000038
Chunk: 106

Company: KEYCORP /NEW/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 106
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 forward purchase and sales contracts consisting of contractual commitments associated with “to be announced” securities and when-issued securities, and other customized derivative contracts.(c)Netting adjustments represent the amounts recorded to convert our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. As of December 31, 2024, excess collateral that has not been offset against net derivative instrument positions totaled $168 million of cash collateral and $215 million of securities collateral posted as well as $13 million of cash collateral and $32 million of securities collateral held. As of December 31, 2023, excess collateral that has not been offset against net derivative instrument positions totaled $161 million of cash collateral and $269 million of securities collateral posted as well as $16 million of cash collateral and $212 million of securities collateral held.   (d)Other collateral represents the amount that cannot be used to offset our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The other collateral consists of securities and is exchanged under bilateral collateral and master netting agreements that allow us to offset the net derivative position with the related collateral. The application of the other collateral cannot reduce the net derivative position below zero. Therefore, excess other collateral, if any, is not reflected above.Fair value hedges.   During the year ended December 31, 2024, we did not exclude any portion of these hedging instruments from the assessment of hedge effectiveness. The following tables summarize the amounts that were recorded on the balance sheet as of December 31, 2024 and December 31, 2023, related to cumulative basis adjustments for fair value hedges.December 31, 2024Dollars in millionsBalance sheet line item in which the hedge item is includedCarrying amount of hedged item(a)Hedge accounting basis adjustment - active hedgesHedge accounting basis adjustment - discontinued hedgesInterest rate contractsLong-term debt$10,249 $(490)$(4)Interest rate contractsSecurities available for sale(b)12,097 5 17 December 31, 2023Dollars in millionsBalance sheet line item in which the hedge item is includedCarrying amount of hedged item (a)Hedge accounting basis adjustment - active hedgesHedge accounting basis adjustment - discontinued hedgesInterest rate contractsLong-term debt$9,919 $(432)$(5)Interest rate contractsSecurities available for sale(b)8,655