Company: CFG-PE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000759944-25-000070
Chunk: 247

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 247
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 226 (11)192 199 (7)For more information on the election of the fair value option for these assets see Note 20 in the Company’s 2024 Form 10-K.Recurring Fair Value MeasurementsThe Company utilizes a variety of valuation techniques to measure its assets and liabilities at fair value on a recurring basis. For more information on the valuation techniques utilized to measure fair value on a recurring basis, see Note 20 in the Company’s 2024 Form 10-K. 

Citizens Financial Group, Inc. | 63

The following table presents assets and liabilities measured at fair value, including gross derivative assets and liabilities, on a recurring basis at March 31, 2025:(dollars in millions)TotalLevel 1Level 2Level 3Debt securities available for sale:Mortgage-backed securities$30,014 $— $30,014 $— Collateralized loan obligations124 — 124 — State and political subdivisions1 — 1 — U.S. Treasury and other4,069 4,069 — — Total debt securities available for sale34,208 4,069 30,139 — Loans held for sale:Residential loans held for sale922 — 922 — Commercial loans held for sale215 — 215 — Total loans held for sale, at fair value1,137 — 1,137 — Mortgage servicing rights1,397 — — 1,397 Derivative assets:Interest rate contracts459 — 459 — Foreign exchange contracts318 — 318 — Commodities contracts689 — 689 — TBA contracts2 — 2 — Other contracts9 — 1 8 Total derivative assets1,477 — 1,469 8 Equity securities, at fair value(1)178 178 — — Short-term investments55 20 35 — Total assets$38,452 $4,267 $32,780 $1,405 Derivative liabilities:Interest rate contracts$684 $— $684 $— Foreign exchange contracts326 — 326 — Commodities contracts634 — 634 — TBA contracts10 — 10 — Other contracts3 — — 3 Total derivative