Company: CFG-PE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000759944-25-000108
Chunk: 262

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 262
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18 Total long-term borrowed funds$12,526 $12,401 (1) Notes were redeemed on January 27, 2025. (2) Rate disclosed reflects the weighted average rate as of June 30, 2025.(3) Collateralized by loans. See Note 6 for additional information.At June 30, 2025, the Company’s long-term borrowed funds include principal balances of $12.6 billion, unamortized debt issuance costs and discounts of $78 million, and hedging basis adjustments of ($4) million. At December 31, 2024, the Company’s long-term borrowed funds include principal balances of $12.5 billion, unamortized debt issuance costs and discounts of $85 million, and hedging basis adjustments of ($8) million. See Note 8 for further information about the Company’s hedging of certain long-term borrowed funds.Advances, lines of credit and letters of credit from the FHLB are collateralized primarily by residential mortgages and home equity products sufficient to satisfy the collateral maintenance level established by the FHLB. The utilized FHLB borrowing capacity, primarily for advances and letters of credit, was $6.3 billion and $4.6 billion at June 30, 2025 and December 31, 2024, respectively. The Company’s available FHLB borrowing capacity was $21.9 billion and $21.1 billion at June 30, 2025 and December 31, 2024, respectively. The Company can also borrow from the FRB discount window to meet short-term liquidity requirements. Collateral, including certain loans, is pledged to support this borrowing capacity. At June 30, 2025, the Company’s unused secured borrowing capacity was approximately $75.7 billion, which includes unencumbered securities, FHLB borrowing capacity, and FRB discount window capacity.

Citizens Financial Group, Inc. | 62

NOTE 8 - DERIVATIVES In the normal course of business, the Company enters into derivative transactions to meet the financing and hedging needs of its customers and reduce its own exposure to fluctuations in interest rates and foreign currency exchange rates. These transactions include interest rate swap contracts, interest rate options, foreign exchange contracts, residential loan commitment rate locks, interest rate future contracts, swaptions, certain commodities, forward commitments to sell TBAs, forward purchase and sale contracts, and purchase options. The Company does not use derivatives for speculative