Company: FITBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000035527-25-000137
Chunk: 204

Company: FIFTH THIRD BANCORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 204
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 and TBA securities.

Tables 55 and 56 show all swap positions that are utilized as qualifying hedging instruments for purposes of managing the Bancorp’s exposures to the variability of interest rates. These positions are used to convert the contractual interest rate index of agreed-upon amounts of assets and liabilities (i.e., notional amounts) to another interest rate index, to hedge the exposure to changes in fair value of a recognized asset attributable to changes in the benchmark interest rate or to hedge forecasted transactions for the variability in cash flows attributable to the contractually specified interest rate. The volume, maturity and mix of portfolio swaps change frequently as the Bancorp adjusts its broader interest rate risk management objectives and the balance sheet positions to be hedged. For further information, refer to Note 9 of the Notes to Condensed Consolidated Financial Statements.

The following tables present additional information about the interest rate swaps used as qualifying hedging instruments in Fifth Third’s asset and liability management activities:

TABLE 55:  Summary of Qualifying Hedging InstrumentsWeighted-AverageAs of March 31, 2025 ($ in millions)NotionalAmountFairValueRemainingTerm (years)Fixed RateIndexInterest rate swaps related to C&I loans – cash flow – receive-fixed$11,000 (3)6.0 3.05  %SOFRInterest rate swaps related to commercial mortgage and commercial construction loans – cash flow – receive-fixed4,000 1 6.8 3.50 SOFRInterest rate swaps related to long-term debt – fair value – receive-fixed4,955 (14)4.5 5.04 SOFRTotal interest rate swaps$19,955 (16)

TABLE 56:  Summary of Qualifying Hedging InstrumentsWeighted-AverageAs of December 31, 2024 ($ in millions)Notional AmountFair ValueRemaining Term (years)Fixed RateIndexInterest rate swaps related to C&I loans – cash flow – receive-fixed$11,000 (2)5.7 3.05  %SOFRInterest rate swaps related to C&I loans – cash flow – receive-fixed – forward starting(a)1,000 1 7.0 3.20 SOFRInterest rate swaps related to commercial mortgage and commercial construction loans – cash flow – receive-fixed – forward starting(a)4,000 3 7.13.50 SOFRInterest rate swaps related to long-term debt – fair value – receive-fixed