Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 99

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 99
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251,212 80 Total derivative instruments, after netting$19,049 $279,600 At December 31, 2023Asset DerivativesLiability Derivatives(In thousands)Notional AmountsFair ValueNotional AmountsFair ValueDesignated as hedging instruments:Interest rate derivatives (1)$2,750,000 $11,140 $2,700,000 $13,679 Not designated as hedging instruments:Interest rate derivatives (1)8,284,356 319,122 8,272,197 321,064 Mortgage banking derivatives (2)2,798 37 — — Other (3)340,553 337 731,055 1,067 Total not designated as hedging instruments8,627,707 319,496 9,003,252 322,131 Gross derivative instruments, before netting$11,377,707 330,636 $11,703,252 335,810 Less: Master netting agreements55,949 55,949 Cash collateral pledged232,190 — Total derivative instruments, after netting$42,497 $279,861 (1)Balances related to clearing houses are presented as a single unit of account. In accordance with their rule books, clearing houses legally characterize variation margin payments as settlement of derivatives rather than collateral against derivative positions. Notional amounts of interest rate swaps cleared through clearing houses included $71.1 million and $113.8 million for asset derivatives at December 31, 2024, and 2023, respectively. The related fair values approximate zero. There were no interest rate swaps cleared through clearing houses for liability derivatives at both December 31, 2024, and 2023.(2)Notional amounts related to residential loans exclude approved floating rate commitments of $0.4 million and $1.0 million at December 31, 2024, and 2023, respectively.(3)Other derivatives include foreign currency forward contracts related to lending arrangements, a Visa equity swap transaction, and risk participation agreements. Notional amounts of risk participation agreements include $294.5 million and $299.2 million for asset derivatives and $796.6 million and $682.9 million for liability derivatives at December 31, 2024, and 2023, respectively, which have insignificant related fair values.

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The following tables