Company: CFG-PE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000759944-25-000153
Chunk: 199

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 199
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13

ANALYSIS OF FINANCIAL CONDITION

Securities

The following table presents the major components of securities at amortized cost and fair value:

Table 4: Amortized Cost and Fair Value of SecuritiesSeptember 30, 2025December 31, 2024(dollars in millions)Amortized Cost(1)Fair Value Amortized Cost(1)Fair ValueU.S. Treasury and other$4,563 $4,514 $3,631 $3,525 State and political subdivisions1 1 1 1 Mortgage-backed securities:Federal agencies and U.S. government sponsored entities31,865 30,551 30,897 28,795 Other/non-agency268 263 273 260 Total mortgage-backed securities32,133 30,814 31,170 29,055 Collateralized loan obligations90 90 184 184    Total debt securities available for sale$36,787 $35,419 $34,986 $32,765 Mortgage-backed securities:Federal agencies and U.S. government sponsored entities$7,767 $6,938 $8,187 $7,136 Total mortgage-backed securities7,767 6,938 8,187 7,136 Asset-backed securities357 357 412 404    Total debt securities held to maturity$8,124 $7,295 $8,599 $7,540    Total debt securities available for sale and held to maturity$44,911 $42,714 $43,585 $40,305 Equity securities, at cost(2)$710 $710 $710 $710 Equity securities, at fair value(2)286 286 220 220 

(1) Excludes portfolio level basis adjustments of $37 million and $(75) million, respectively, for securities designated in active fair value hedge relationships under the portfolio layer method at September 30, 2025 and December 31, 2024.

(2) Included in Other assets in the Consolidated Balance Sheets.

The primary objective of our securities portfolio is to provide a readily available source of liquidity. The portfolio primarily includes high-quality and highly liquid investments that reflect our ongoing commitment to maintain strong contingent liquidity levels and pledging capacity.

As of September 30, 2025, U.S. Treasuries and