Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 91

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 91
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 (Dollars in Millions)Overnight and ContinuousLess Than 30 Days30-89 DaysGreater Than 90 DaysTotalMarch 31, 2025Repurchase agreementsU.S. Treasury and agencies$6,711 $— $— $— $6,711 Residential agency mortgage-backed securities543 — — — 543 Corporate debt securities1,736 5 — — 1,741 Asset-backed securities303 15 — — 318 Total repurchase agreements9,293 20 — — 9,313 Securities loaned     Corporate debt securities141 — — — 141 Total securities loaned141 — — — 141 Gross amount of recognized liabilities$9,434 $20 $— $— $9,454 December 31, 2024Repurchase agreementsU.S. Treasury and agencies$5,918 $— $— $— $5,918 Residential agency mortgage-backed securities319 — — — 319 Corporate debt securities1,116 — — — 1,116 Asset-backed securities270 22 — — 292 Total repurchase agreements7,623 22 — — 7,645 Securities loanedCorporate debt securities90 — — — 90 Total securities loaned90 — — — 90 Gross amount of recognized liabilities$7,713 $22 $— $— $7,735  The Company executes its derivative, repurchase/reverse repurchase and securities loaned/borrowed transactions under the respective industry standard agreements. These agreements include master netting arrangements that allow for multiple contracts executed with the same counterparty to be viewed as a single arrangement. This allows for net settlement of a single amount on a daily basis. In the event of default, the master netting arrangement provides for close-out netting, which allows all of these positions with the defaulting counterparty to be terminated and net settled with a single payment amount. The Company has elected to offset the assets and liabilities under netting arrangements for the balance sheet presentation of the majority of its derivative counterparties. The netting occurs at the counterparty level, and includes all assets and liabilities related to the derivative contracts, including those associated with cash collateral received or delivered. The Company has not