Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 9

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 3
Chunk 9
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 seller/servicer, Truist Bank is required to maintain minimum levels of capital, as specified by various agencies, including the U.S. Department of Housing and Urban Development, GNMA, FHLMC, and FNMA. At December 31, 2024 and 2023, Truist Bank’s capital was above all required levels specified by these agencies.

Truist Financial Corporation   145

NOTE 18. Fair Value Disclosures

Recurring Fair Value MeasurementsAccounting standards define fair value as the price that would be received on the measurement date to sell an asset or the price paid to transfer a liability in the principal or most advantageous market available to the entity in an orderly transaction between market participants, with a three-level measurement hierarchy:•Level 1: Quoted prices for identical instruments in active markets•Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets•Level 3: Valuations derived from valuation techniques in which one or more significant inputs are unobservableThe following tables present fair value information for assets and liabilities measured at fair value on a recurring basis:December 31, 2024(Dollars in millions)TotalLevel 1Level 2Level 3Netting Adjustments(1)Assets:    Trading assets:U.S. Treasury$143 $— $143 $— $— GSE41 — 41 — — States and political subdivisions786 — 786 — — Corporate and other debt securities1,679 — 1,679 — — Loans1,671 — 1,671 — — Equity securities413 413 — — — Other367 267 100 — — Total trading assets5,100 680 4,420 — — AFS securities: U.S. Treasury14,411 — 14,411 — — GSE403 — 403 — — Agency MBS – residential49,959 — 49,959 — — Agency MBS – commercial2,293 — 2,293 — — States and political subdivisions382 — 382 — — Other16 — 16 — — Total AFS