Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 107

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 107
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 securities365 — — — 365 Total repurchase agreements12,859 — — — 12,859 Securities loaned     Corporate debt securities114 — — — 114 Total securities loaned114 — — — 114 Gross amount of recognized liabilities$12,973 $— $— $— $12,973 December 31, 2024Repurchase agreementsU.S. Treasury and agencies$5,918 $— $— $— $5,918 Residential agency mortgage-backed securities319 — — — 319 Corporate debt securities1,116 — — — 1,116 Asset-backed securities270 22 — — 292 Total repurchase agreements7,623 22 — — 7,645 Securities loanedCorporate debt securities90 — — — 90 Total securities loaned90 — — — 90 Gross amount of recognized liabilities$7,713 $22 $— $— $7,735  The Company executes its derivative, repurchase/reverse repurchase and securities loaned/borrowed transactions under the respective industry standard agreements. These agreements include master netting arrangements that allow for multiple contracts executed with the same counterparty to be viewed as a single arrangement. This allows for net settlement of a single amount on a daily basis. In the event of default, the master netting arrangement provides for close-out netting, which allows all of these positions with the defaulting counterparty to be terminated and net settled with a single payment amount. The Company has elected to offset the assets and liabilities under netting arrangements for the balance sheet presentation of the majority of its derivative counterparties. The netting occurs at the counterparty level, and includes all assets and liabilities related to the derivative contracts, including those associated with cash collateral received or delivered. The Company has also elected to offset the assets and liabilities under netting arrangements for the balance sheet presentation of repurchase/reverse repurchase transactions with certain counterparties, but has not made the election for securities loaned/borrowed transactions. 

U.S. Bancorp63

The following tables provide information on the Company’s netting adjustments, and items not offset on the Consolidated Balance Sheet but available for offset in the event of default:  Gross Recognized AssetsGross Amounts Offset