Company: CMA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000028412-25-000235
Chunk: 189

Company: COMERICA INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 189
---
 interest rate contracts24,105 152 191 22,751 177 332 Energy contracts:Caps and floors written4,058 1 257 3,460 — 201 Caps and floors purchased4,058 258 1 3,460 202 — Swaps6,763 254 234 6,338 214 199 Total energy contracts14,879 513 492 13,258 416 400 Foreign exchange contracts:Spot, forwards, options and swaps2,390 35 28 3,117 70 59 Total customer-initiated and other activities41,374 700 711 39,126 663 791 Total gross derivatives$70,121 700 712 $69,729 666 794 Amounts offset in the Consolidated Balance Sheets:Netting adjustment - Offsetting derivative assets/liabilities(360)(360)(330)(330)Netting adjustment - Cash collateral received/posted(73)(4)(80)— Net derivatives included in the Consolidated Balance Sheets (b)267 348 256 464 Amounts not offset in the Consolidated Balance Sheets:Marketable securities pledged under bilateral collateral agreements(126)— (143)(2)Net derivatives after deducting amounts not offset in the Consolidated Balance Sheets$141 $348 $113 $462 (a)Notional or contractual amounts, which represent the extent of involvement in the derivatives market, are used to determine the contractual cash flows required in accordance with the terms of the agreement. These amounts are typically not exchanged, significantly exceed amounts subject to credit or market risk and are not reflected in the Consolidated Balance Sheets.(b)Net derivative assets are included in accrued income and other assets and net derivative liabilities are included in accrued expenses and other liabilities on the Consolidated Balance Sheets. Included in the fair value of net derivative assets and net derivative liabilities are credit valuation adjustments reflecting counterparty credit risk and credit risk of the Corporation. The fair value of net derivative assets included credit valuation adjustments for counterparty credit risk of $2 million and $1 million at September 30, 2025 and December 31, 2024, respectively.

23

Table of ContentsNotes to Consolidated Financial Statements (unaudited)Comerica Incorporated and Subsidiaries

Risk ManagementThe Corporation's derivative instruments used for managing interest rate risk include cash flow hedging strategies that convert variable-rate loans to fixed