Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 299

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 299
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’s Consolidated Financial Statements. The posting of collateral has been determined to remove the need for further consideration of credit risk. As a result, the Bancorp determined that the impact of the Bancorp’s credit risk to the valuation of its derivative liabilities was immaterial to the Bancorp’s Consolidated Financial Statements.

155 Fifth Third Bancorp

Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The Bancorp holds certain derivative instruments that qualify for hedge accounting treatment and are designated as either fair value hedges or cash flow hedges. Derivative instruments that do not qualify for hedge accounting treatment, or for which hedge accounting is not established, are held as free-standing derivatives. All customer accommodation derivatives are held as free-standing derivatives.The following tables reflect the notional amounts and fair values for all derivative instruments included in the Consolidated Balance Sheets as of:Fair ValueDecember 31, 2024 ($ in millions)NotionalAmountDerivativeAssetsDerivativeLiabilitiesDerivatives Designated as Qualifying Hedging Instruments:Fair value hedges:Interest rate swaps related to long-term debt$4,955 1 12 Total fair value hedges1 12 Cash flow hedges:Interest rate swaps related to C&I loans11,000 2 4 Interest rate swaps related to C&I loans - forward starting(a)1,000 1 — Interest rate swaps related to commercial mortgage and commercial construction loans - forward starting(a)4,000 3 — Total cash flow hedges6 4 Total derivatives designated as qualifying hedging instruments7 16 Derivatives Not Designated as Qualifying Hedging Instruments:Free-standing derivatives - risk management and other business purposes:Interest rate contracts related to MSR portfolio3,135 4 4 Forward contracts related to residential mortgage loans measured at fair value(b)881 8 — Swap associated with the sale of Visa, Inc. Class B Shares2,465 — 170 Foreign exchange contracts104 2 — Interest-only strips30 — — Interest rate contracts for collateral management1,000 1 — Interest rate contracts for LIBOR transition597 — — Other43 — — Total free-standing derivatives - risk management and other business purposes15 174 Free-standing derivatives - customer accommodation:Interest rate contracts(c)87,928 708 924 Interest rate lock commitments264 2 — Commodity contracts16,889