Company: USB-PA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000036104-25-000064
Chunk: 100

Company: US BANCORP \DE\
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 100
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 for market risk management, including exposure limits for each portfolio. The Company also has derivative contracts that are created through its operations, including certain unfunded mortgage loan commitments and swap agreements related to the sale of a portion of its Class B common and preferred shares of Visa Inc. Refer to Note 14 for further information on these swap agreements. The Company uses credit derivatives to economically hedge the credit risk on its derivative positions and loan portfolios. 

U.S. Bancorp57

The following table summarizes the asset and liability management derivative positions of the Company:  September 30, 2025December 31, 2024 Notional ValueFair ValueNotional ValueFair Value(Dollars in Millions)AssetsLiabilitiesAssetsLiabilitiesFair value hedgesInterest rate contractsReceive fixed/pay floating swaps$8,550 $— $— $10,600 $— $— Pay fixed/receive floating swaps26,614 — — 29,739 — — Cash flow hedgesInterest rate contractsReceive fixed/pay floating swaps23,000 — — 28,550 — — Pay fixed/receive floating swaps1,000 — — — — — Net investment hedgesForeign exchange forward contracts741 6 — 870 7 — Other economic hedgesInterest rate contractsFutures and forwardsBuy8,544 14 12 5,436 8 30 Sell3,283 4 12 2,711 10 1 OptionsPurchased9,520 145 — 7,810 186 — Written3,181 21 66 1,991 8 47 Receive fixed/pay floating swaps9,396 109 30 9,977 45 23 Pay fixed/receive floating swaps2,983 — — 2,371 — — Foreign exchange forward contracts774 4 1 702 4 4 Equity contracts321 8 1 293 — 9 Credit contracts2,816 — 18 3,558 — 29 Other(a)2,846 8 118 1,084 7 78 Total$103,569 $319 $258 $105,692 $275 $221 (a)Includes derivative liability swap agreements related to the sale of a portion of the Company’s Class B common and preferred shares of