Company: CFG-PE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000759944-25-000153
Chunk: 162

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-11-03
Form: 10-Q
Item: Part II, Item 8
Chunk 162
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 of Operations.Residential MSRs are accounted for at fair value. Derivatives utilized to hedge the fair value of residential MSRs include interest rate futures, swaps, options, and forward contracts to purchase mortgage-backed securities. Gains and losses on residential MSRs and the related derivatives are reported in Mortgage banking fees in the Consolidated Statements of Operations.

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The following table presents the effect of economic hedges on noninterest income:Amounts Recognized in Noninterest Income for theThree Months Ended September 30,Nine Months Ended September 30,Affected Line Item in the Consolidated Statements of Operations(dollars in millions)2025202420252024Economic hedge type:Customer interest rate contracts($17)$474 $218 ($209)Foreign exchange and derivative productsDerivatives hedging interest rate risk29 (467)(190)233 Foreign exchange and derivative productsCustomer foreign exchange contracts(72)151 345 18 Foreign exchange and derivative productsDerivatives hedging foreign exchange risk107 (195)(423)(13)Foreign exchange and derivative productsCustomer commodity contracts(122)(193)(81)(126)Foreign exchange and derivative productsDerivatives hedging commodity price risk125 198 96 141 Foreign exchange and derivative productsResidential loan commitments4 9 13 2 Mortgage banking feesDerivatives hedging residential loan commitments and mortgage loans held for sale, at fair value(14)(24)(28)(15)Mortgage banking feesDerivative contracts used to hedge residential MSRs(1)47 26 (9)Mortgage banking feesDerivative contracts used to hedge equity price risk4 — 15 — Capital markets feesTotal$43 $— ($9)$22 

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NOTE 9 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes the components of the Company’s OCI:(dollars in millions)Pre-taxTax EffectAfter-taxThree Months Ended September 30, 2025Net unrealized gains (losses) on cash flow hedges arising during the period($21)$5 ($16)Reclassification of net (gains) losses on cash flow hedges to earnings197 (53)144 Net unrealized gains (losses) on cash flow hedges176 (48)128 Net unrealized gains (losses