Company: WAL-PA
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001212545-25-000214
Chunk: 107

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 107
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 of which are based on three-month SOFR to hedge against its MSR valuation exposure. The notional amount on these contracts is substantial as these contracts have a short duration and are intended to cover the longer duration of MSR hedges.

43

The fair value of derivative contracts, after taking into account the effects of master netting agreements, is included in Other assets or Other liabilities on the Consolidated Balance Sheet, as summarized in the table below: June 30, 2025December 31, 2024June 30, 2024Gross amount of recognized assets (liabilities)Gross offsetNet assets (liabilities)Gross amount of recognized assets (liabilities)Gross offsetNet assets (liabilities)Gross amount of recognized assets (liabilities)Gross offsetNet assets (liabilities)(in millions)Derivatives subject to master netting arrangements:AssetsForeign currency contracts$— $— $— $1 $— $1 $— $— $— Forward contracts63 — 63 81 — 81 13 — 13 Interest rate contracts25 — 25 106 — 106 94 — 94 Margin347 — 347 72 — 72 121 — 121 Netting— (134)(134)— (52)(52)— (21)(21)$435 $(134)$301 $260 $(52)$208 $228 $(21)$207 LiabilitiesForeign currency contracts$(2)$— $(2)$— $— $— $— $— $— Forward contracts(108)— (108)(47)— (47)(22)— (22)Interest rate contracts(78)— (78)(6)— (6)(4)— (4)Margin41 — 41 (3)— (3)(1)— (1)Netting— 134 134 — 52 52 — 21 21 $(147)$134 $(13)$(56)$52 $(4)$(27)$21 $(6)Derivatives not subject to master netting arrangements:AssetsForeign currency contracts$1 $— $1 $— $— $— $— $— $— Interest rate lock commitments24 — 24 5 — 5 10