Company: MTB-PJ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000036270-25-000011
Chunk: 163

Company: M&T BANK CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 163
---
 swap agreements to modify the repricing characteristics of certain portions of the Company’s portfolios of earning assets and interest-bearing liabilities. The Company designates interest rate swap agreements utilized in the management of interest rate risk as either fair value hedges or cash flow hedges. Interest rate swap agreements are generally entered into with counterparties that meet established credit standards and most contain master netting, collateral and/or settlement provisions protecting the at-risk party. Based on adherence to the Company’s credit standards and the presence of the netting, collateral or settlement provisions, the Company believes that the credit risk inherent in these contracts was not material as of June 30, 2025.Information about interest rate swap agreements entered into for interest rate risk management purposes summarized by the type of financial instrument the swap agreements were intended to hedge follows:NotionalAmountWeighted-AverageMaturity(In years)Weighted-Average Rate EstimatedFair ValueGain (Loss) (a)(Dollars in millions)Fixed Variable June 30, 2025 Fair value hedges: Fixed rate long-term borrowings (b) (d)$6,100 5.33.56%4.46%$13 Cash flow hedges:Interest payments on variable rate commercial real estate and commercial    and industrial loans (b) (e)26,650 1.63.594.3211 Total$32,750 2.3$24 December 31, 2024Fair value hedges:Fixed rate long-term borrowings (b) (f)$5,350 5.93.55%4.71%$(2)      Fixed rate investment securities available for sale (c)15 0.14.844.36— Cash flow hedges:Interest payments on variable rate commercial real estate and commercial   and industrial loans (b) (g)30,819 1.63.414.471 Total$36,184 2.2$(1)__________________________________________________________________________________(a)Certain clearinghouse exchanges consider payments by counterparties for variation margin on derivative instruments to be settlements of those positions. The impact of such payments for interest rate swap agreements designated as fair value hedges was a net settlement of losses of $20 million and $153 million at June 30, 2025 and December 31, 2024, respectively. The impact of such payments on interest rate swap agreements designated as cash flow hedges was a net settlement of gains of $74 million and of losses of