Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 41

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 Fair ValueFair Value(Dollars in millions)March 31,2025December 31,2024March 31,2025December 31,2024Derivatives designated and qualifying as hedging instruments (a)    Interest rate swap agreements$12 $2 $— $3 Commitments to sell real estate loans1 4 1 —  13 6 1 3 Derivatives not designated and qualifying as hedging instruments (a)    Mortgage banking:    Commitments to originate real estate loans for sale17 4 25 32 Commitments to sell real estate loans28 39 6 —  45 43 31 32 Other:    Interest rate contracts (b)166 185 589 769 Foreign exchange and other option and futures contracts15 21 11 18  181 206 600 787 Total derivatives$239 $255 $632 $822 __________________________________________________________________________________(a)Asset derivatives are reported in Accrued interest and other assets and liability derivatives are reported in Accrued interest and other liabilities in the Consolidated Balance Sheet.(b)The impact of variation margin payments at March 31, 2025 and December 31, 2024 was a reduction of the estimated fair value of interest rate contracts not designated as hedging instruments in an asset position of $533 million and $686 million, respectively, and in a liability position of $27 million and $15 million, respectively.Amount of Gain (Loss) RecognizedThree Months Ended March 31,20252024(Dollars in millions)Derivative Hedged ItemDerivative Hedged ItemDerivatives in fair value hedging relationshipsInterest rate swap agreements:Fixed rate long-term borrowings (a)$93 $(92)$(60)$60 Derivatives not designated as hedging instrumentsInterest rate contracts (b)$5 $3 Foreign exchange and other option and futures contracts (b)4 4 Total$9 $7 __________________________________________________________________________________(a)Reported as an adjustment to Interest expense in the Consolidated Statement of Income.(b)Reported as Trading account and other non-hedging derivative gains in the Consolidated Statement of Income.Carrying Amount of the Hedged ItemCumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the CarryingAmount of the Hedged Item (Dollars in millions)March