Company: CFG-PE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000759944-25-000108
Chunk: 162

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-04
Form: 10-Q
Item: Part II, Item 8
Chunk 162
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 at fair value in the financial statements.For more information on the measurement of fair value for the Company’s assets and liabilities, including the election of the fair value option and valuation techniques utilized to measure fair value on a recurring and nonrecurring basis, see Note 20 in the Company’s 2024 Form 10-K.Fair Value Option The Company has elected to account for residential mortgage LHFS and certain commercial LHFS at fair value. The following table presents the difference between the aggregate fair value and the aggregate unpaid principal balance of LHFS measured at fair value:June 30, 2025December 31, 2024(dollars in millions)Aggregate Fair ValueAggregate Unpaid PrincipalAggregate Fair Value Greater (Less) Than Aggregate Unpaid PrincipalAggregate Fair ValueAggregate Unpaid PrincipalAggregate Fair Value Greater (Less) Than Aggregate Unpaid PrincipalResidential mortgage loans held for sale$766 $745 $21 $633 $625 $8 Commercial loans held for sale169 179 (10)192 199 (7)

Citizens Financial Group, Inc. | 70

Recurring Fair Value MeasurementsThe Company utilizes a variety of valuation techniques to measure its assets and liabilities at fair value on a recurring basis. The following table presents assets and liabilities measured at fair value, including gross derivative assets and liabilities, on a recurring basis at June 30, 2025:(dollars in millions)TotalLevel 1Level 2Level 3Debt securities available for sale:Mortgage-backed securities$30,132 $— $30,132 $— Collateralized loan obligations124 — 124 — State and political subdivisions1 — 1 — U.S. Treasury and other4,401 4,401 — — Total debt securities available for sale34,658 4,401 30,257 — Loans held for sale:Residential loans held for sale766 — 766 — Commercial loans held for sale169 — 169 — Total loans held for sale, at fair value935 — 935 — Mortgage servicing rights1,426 — — 1,426 Derivative assets:Interest rate contracts407 — 407 — Foreign exchange contracts635 — 635 — Commodities contracts499 — 499 — TBA contracts5 — 5 — Other contracts26 —