Company: CFG-PE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000759944-25-000108
Chunk: 263

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 263
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 purposes. Information regarding the valuation methodology and inputs used to estimate the fair value of the Company’s derivative instruments is described in Note 20 in the Company’s 2024 Form 10-K.The following table presents derivative instruments included in the Consolidated Balance Sheets:June 30, 2025December 31, 2024(dollars in millions)Notional AmountDerivative AssetsDerivative LiabilitiesNotional AmountDerivative AssetsDerivative LiabilitiesDerivatives designated as hedging instruments:Interest rate contracts$72,753 $215 $10 $69,077 $402 $5 Derivatives not designated as hedging instruments:Interest rate contracts179,709 192 553 171,193 160 905 Foreign exchange contracts39,978 635 543 34,749 472 411 Commodities contracts1,259 499 441 1,136 429 379 TBA contracts4,199 5 19 2,714 10 8 Other contracts1,397 26 — 615 3 2 Total derivatives not designated as hedging instruments226,542 1,357 1,556 210,407 1,074 1,705 Total gross derivatives299,295 1,572 1,566 279,484 1,476 1,710 Less: Gross amounts offset in the Consolidated Balance Sheets(1)(505)(505)(391)(391)Less: Cash collateral applied(1)(235)(295)(677)(99)Total net derivatives presented in the Consolidated Balance Sheets$832 $766 $408 $1,220 (1) Amounts represent the impact of enforceable master netting agreements that allow the Company to net settle positive and negative positions, as well as collateral paid and received.The Company’s derivative transactions are internally divided into three sub-groups: institutional, customer facilitation and residential loan. Certain derivative transactions within these sub-groups are designated as fair value or cash flow hedges, as described below:Derivatives Designated As Hedging InstrumentsThe Company’s institutional derivatives qualify for hedge accounting treatment. The net interest accruals on interest rate swaps designated in a fair value or cash flow hedge relationship are treated as an adjustment to interest income or interest expense of the hedged item. All hedging relationships are formally documented at inception, as well as risk management objectives and strategies for undertaking various accounting hedges. In addition