Company: KEY-PI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000091576-25-000058
Chunk: 228

Company: KEYCORP /NEW/
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 228
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 sale securities and held-to-maturity securities totaled $109 million and $21 million, respectively.(b)Excluded from the amortized cost of securities available for sale are basis adjustments for securities designated in active fair value hedges. Basis adjustments totaled $71 million and $(6) million as of March 31, 2025 and December 31, 2024, respectively. The securities being hedged are primarily U.S Treasuries, Agency RMBS, and Agency CMBS.(c)Amortized cost includes  $231 million of securities as of March 31, 2025, and $303 million of securities as of December 31, 2024, related to the purchase of senior notes from a securitization collateralized by sold indirect auto loans.

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The following table summarizes securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of March 31, 2025, and December 31, 2024. Duration of Unrealized Loss Position   Less than 12 Months12 Months or LongerTotalDollars in millionsFairValueGrossUnrealizedLossesFairValueGrossUnrealizedLossesFairValueGrossUnrealizedLossesMarch 31, 2025Securities available for sale:U.S Treasury, agencies, and corporations$2,646 $4 $516 $28 $3,162 $32 Agency residential collateralized mortgage obligations98 — 8,161 2,010 8,259 2,010 Agency residential mortgage-backed securities8,138 137 3,120 541 11,258 678 Agency commercial mortgage-backed securities48 — 4,233 426 4,281 426 Held-to-maturity securities:Agency residential collateralized mortgage obligations184 3 3,482 243 3,666 246 Agency residential mortgage-backed securities— — 133 15 133 15 Agency commercial mortgage-backed securities — — 2,059 171 2,059 171 Asset-backed securities— — 231 5 231 5 Other securities2 — 6 1 8 1 Total securities in an unrealized loss position$11,116 $144 $21,941 $3,440 $33,057 $3,584 December 31, 2024Securities available