Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 437

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7A
Chunk 437
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— States and political subdivisions760 — 760 — — Corporate and other debt securities1,293 — 1,293 — — Loans1,575 — 1,575 — — Equity securities181 181 — — — Other329 280 49 — — Total trading assets4,332 461 3,871 — — AFS securities:    U.S. Treasury10,041 — 10,041 — — GSE362 — 362 — — Agency MBS – residential51,289 — 51,289 — — Agency MBS – commercial2,248 — 2,248 — — States and political subdivisions425 — 425 — — Non-agency MBS2,981 — 2,981 — — Other20 — 20 — — Total AFS securities67,366 — 67,366 — — LHFS at fair value852 — 852 — — Loans and leases15 — — 15 — Loan servicing rights at fair value3,378 — — 3,378 — Other assets:    Derivative assets951 956 1,867 5 (1,877)Equity securities360 245 115 — — Total assets$77,254 $1,662 $74,071 $3,398 $(1,877)Liabilities:    Short-term borrowings:Securities sold short$1,625 $185 $1,440 $— $— Other liabilities:Derivative liabilities2,597 487 4,171 24 (2,085)Total liabilities$4,222 $672 $5,611 $24 $(2,085)(1)Refer to “Note 19. Derivative Financial Instruments” for additional discussion on netting adjustments.At December 31, 2024 and December 31, 2023, investments totaling $535 million and $459 million, respectively, have been excluded from the table above as they are valued based on net asset value as a practical expedient. These investments primarily consist of certain SBIC funds.The following discussion focuses on the valuation techniques and significant