Company: CFG-PE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000759944-25-000070
Chunk: 28

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 28
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 commitments to sell TBAs, forward purchase and sale contracts, and purchase options. The Company does not use derivatives for speculative purposes. Information regarding the valuation methodology and inputs used to estimate the fair value of the Company’s derivative instruments is described in Note 20 in the Company’s 2024 Form 10-K.

Citizens Financial Group, Inc. | 56

The following table presents derivative instruments included in the Consolidated Balance Sheets:March 31, 2025December 31, 2024(dollars in millions)Notional AmountDerivative AssetsDerivative LiabilitiesNotional AmountDerivative AssetsDerivative LiabilitiesDerivatives designated as hedging instruments:Interest rate contracts$72,140 $284 $10 $69,077 $402 $5 Derivatives not designated as hedging instruments:Interest rate contracts163,936 175 674 171,193 160 905 Foreign exchange contracts36,876 318 326 34,749 472 411 Commodities contracts1,133 689 634 1,136 429 379 TBA contracts3,167 2 10 2,714 10 8 Other contracts1,080 9 3 615 3 2 Total derivatives not designated as hedging instruments206,192 1,193 1,647 210,407 1,074 1,705 Total gross derivatives278,332 1,477 1,657 279,484 1,476 1,710 Less: Gross amounts offset in the Consolidated Balance Sheets(1)(411)(411)(391)(391)Less: Cash collateral applied(1)(306)(363)(677)(99)Total net derivatives presented in the Consolidated Balance Sheets$760 $883 $408 $1,220 (1) Amounts represent the impact of enforceable master netting agreements that allow the Company to net settle positive and negative positions, as well as collateral paid and received.The Company’s derivative transactions are internally divided into three sub-groups: institutional, customer facilitation and residential loan. Certain derivative transactions within these sub-groups are designated as fair value or cash flow hedges, as described below:Derivatives Designated As Hedging InstrumentsThe Company’s institutional derivatives qualify for hedge accounting treatment. The net interest accruals on interest rate swaps designated in a fair value or cash flow hedge relationship are treated as an adjustment to interest income