Company: KEY-PI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000091576-25-000058
Chunk: 45

Company: KEYCORP /NEW/
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 2
Chunk 45
---
 interest rate swaps are used to manage the risk profile, see Note 7 (“Derivatives and Hedging Activities”). 

Figure 23. Portfolio Swaps by Interest Rate Risk Management Strategy 

March 31, 2025Weighted-AverageDecember 31, 2024Dollars in millionsNotionalAmountFairValueMaturity(Years)ReceiveRatePayRateNotionalAmountFairValueReceive fixed/pay variable — conventional loans$18,125 $(315)1.42.5 %4.4 %$18,750 $(442)Receive fixed/pay variable — conventional debt11,480 (339)3.92.7 4.4 9,818 (470)Receive fixed/pay variable — forward loans20,125 96 3.03.8 4.4 19,200 (114)Receive fixed/pay variable — forward debt— — —— — 950 (22)Pay fixed/receive variable — conventional debt50 1 3.34.6 3.6 50 1 Pay fixed/receive variable — securities9,300 (73)2.64.4 4.1 9,405 5 Total portfolio swaps$59,080 $(630)(a)2.63.3 %4.4 %$58,173 $(1,042)(a)Floors — forward purchased $3,250 $2 0.9— %— %$3,250 $2 Floors — forward sold 3,250 (1)0.9— — 3,250 (1)Total floors$6,500 $1 —— %— %$6,500 $1 

(a)Excludes accrued interest of $53 million at March 31, 2025, and accrued interest of $51 million at December 31, 2024.

Liquidity risk management

Liquidity risk, which is inherent in the banking industry, is measured by our ability to accommodate liability maturities and deposit withdrawals, meet contractual obligations, and fund new business opportunities at a reasonable cost, in a timely manner, and without adverse consequences. Liquidity management involves maintaining sufficient and diverse sources of funding to accommodate planned, as well as unanticipated, changes in cash flows of assets and liabilities under both normal and adverse conditions.

Governance structure

We manage liquidity for