Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 150

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 8
Chunk 150
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 and December 31, 2024, respectively. The notional amounts of foreign currency and other option and futures contracts not designated as hedging instruments aggregated $1.5 billion and $1.6 billion at March 31, 2025 and December 31, 2024, respectively.

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10. Derivative financial instruments, continued

Information about the fair values of derivative instruments in the Company’s Consolidated Balance Sheet and Consolidated Statement of Income follows: Asset DerivativesLiability Derivatives 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