Company: CMA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000028412-25-000235
Chunk: 188

Company: COMERICA INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 188
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 counterparties involved and, therefore, contain a greater degree of credit risk and liquidity risk than exchange-traded contracts, which have standardized terms and readily available price information. The Corporation reduces exposure to market and liquidity risks from over-the-counter derivative instruments entered into for risk management purposes, as well as transactions entered into to mitigate the market risk associated with customer-initiated transactions, by taking offsetting positions with investment grade domestic and foreign financial institutions and subjecting counterparties to credit approvals, limits and collateral monitoring procedures similar to those used in making other extensions of credit. In addition, certain derivative contracts executed bilaterally with a dealer counterparty in the over-the-counter market are cleared through a clearinghouse, whereby the clearinghouse becomes the counterparty to the transaction.

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Table of ContentsNotes to Consolidated Financial Statements (unaudited)Comerica Incorporated and Subsidiaries

The following table presents the composition of the Corporation’s derivative instruments held or issued for risk management purposes or in connection with customer-initiated and other activities at September 30, 2025 and December 31, 2024. The table excludes a derivative related to the Corporation's 2008 sale of its remaining ownership of Visa shares and includes accrued interest receivable and payable. September 30, 2025December 31, 2024  Fair Value Fair Value(in millions)Notional/ContractAmount (a)Gross Derivative AssetsGross Derivative LiabilitiesNotional/ContractAmount (a)Gross Derivative AssetsGross Derivative LiabilitiesRisk management purposesDerivatives designated as hedging instrumentsInterest rate contracts:Fair value swaps - receive fixed/pay floating$5,450 $— $— $6,800 $— $— Cash flow swaps - receive fixed/pay floating22,850 — — 23,350 — 3 Derivatives used as economic hedgesForeign exchange contracts:Spot, forwards and swaps447 — 1 453 3 — Total risk management purposes28,747 — 1 30,603 3 3 Customer-initiated and other activitiesInterest rate contracts:Caps and floors written2,172 — 6 1,781 — 12 Caps and floors purchased2,172 6 — 1,781 12 — Swaps19,761 146 185 19,189 165 320 Total