Company: WAL-PA
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001212545-25-000141
Chunk: 91

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 91
---
 as these contracts have a short duration and are intended to cover the longer duration of MSR hedges.

42

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: March 31, 2025December 31, 2024March 31, 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 $1 $— $1 Forward contracts21 — 21 81 — 81 17 — 17 Interest rate contracts41 — 41 106 — 106 84 — 84 Margin156 — 156 72 — 72 139 — 139 Netting— (32)(32)— (52)(52)— (33)(33)$218 $(32)$186 $260 $(52)$208 $241 $(33)$208 LiabilitiesForeign currency contracts$— $— $— $— $— $— $(1)$— $(1)Forward contracts(53)— (53)(47)— (47)(29)— (29)Interest rate contracts(21)— (21)(6)— (6)(2)— (2)Margin31 — 31 (3)— (3)(8)— (8)Netting— 32 32 — 52 52 — 33 33 $(43)$32 $(11)$(56)$52 $(4)$(40)$33 $(7)Derivatives not subject to master netting arrangements:AssetsForeign currency contracts$1 $— $1 $— $— $— $— $— $— Interest rate lock commitments14 — 14 5 — 5 10 — 10 Interest rate contracts21 — 21 10 — 10 3 — 3