Company: KEY-PI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000091576-25-000038
Chunk: 83

Company: KEYCORP /NEW/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 83
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— — 5 Credit cards3 — — 3 Total consumer loans$31 $2 $2 $35 Total loans$474 $24 $36 $534 As of December 31, 2023Current30-89Days PastDue90 andGreaterDays PastDueTotalDollars in millionsLOAN TYPECommercial and Industrial$238 $25 $— $263 Commercial real estateCommercial mortgage6 — — 6 Construction— — — — Total commercial real estate loans244 25 — 269 Commercial lease financing— — — — Total commercial loans$244 $25 $— $269 Real estate — residential mortgage$9 $1 $— $10 Home equity loans8 — 1 9 Other consumer loans3 — — 3 Credit cards3 1 — 4 Total consumer loans$23 $2 $1 $26 Total loans$267 $27 $1 $295 Liability for Credit Losses on Off Balance Sheet ExposuresThe liability for credit losses on off balance sheet exposure is included in “accrued expense and other liabilities” on the balance sheet. This includes credit risk for recourse associated with loans sold under the Fannie Mae Delegated Underwriting and Servicing program and credit losses inherent in unfunded lending-related commitments, such as letters of credit and unfunded loan commitments, and certain financial guarantees. Changes in the liability for credit losses for off balance sheet exposures are summarized as follows: Twelve months ended December 31,Dollars in millions20242023Balance at beginning of period$296 $225 Provision (credit) for losses on off balance sheet exposures(6)74 Other— (3)Balance at end of period$290 $296 

 6. Fair Value Measurements 

In accordance with GAAP, Key measures certain assets and liabilities at fair value.  Fair value is defined as the price to sell an asset or transfer a liability in an orderly transaction between market participants in our principal market. Additional information regarding our accounting policies for determining fair value is provided in Note 1 (“Summary of Significant Accounting Policies”) under the heading “Fair Value Measurements.”

133

Assets and Liabilities Measured at Fair Value on a Recurring BasisCertain assets and liabilities are measured at fair value on a recurring