Company: USB-PA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000036104-25-000064
Chunk: 175

Company: US BANCORP \DE\
Filing Date: 2025-11-05
Form: 10-Q
Chunk 175
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 The Company’s Board of Directors approves the Company’s liquidity policy. The Risk Management Committee

| 22 |     | U.S. Bancorp |

of the Company’s Board of Directors oversees the Company’s liquidity risk management process and approves a contingency funding plan. The ALCO reviews the Company’s liquidity policy and limits, and regularly assesses the Company’s ability to meet funding requirements arising from adverse company-specific or market events. The Company regularly projects its funding needs under various stress scenarios and generally has access to diversified sources of funding in both normal and potentially adverse environments. The Company also maintains a contingency funding plan and tests its capabilities to access contingency funding through different channels. The Company’s primary liquidity sources include cash at the Federal Reserve Bank and certain European central banks, unencumbered liquid assets, and capacity to borrow from the FHLB and at the Federal Reserve Bank’s Discount Window. Unencumbered liquid assets in the Company’s investment securities portfolio provide asset liquidity through the Company’s ability to sell the securities or pledge and borrow against them. Refer to Note 3 of the Notes to Consolidated Financial Statements and “Balance Sheet Analysis” for further information on investment securities maturities and trends. Asset liquidity is further enhanced by the Company’s practice of pledging loans to access secured borrowing facilities through the FHLB and Federal Reserve Bank. The following table summarizes the Company’s total available liquidity from on-balance sheet and off-balance sheet funding sources:

| (Dollars in Millions)            |     |   |         | September 30, 
 2025          |   |         | December 31, 
 2024         |
|:---------------------------------|:----|:--|--------:|:--------------|:--|--------:|:-------------|
| Cash held at the Federal Reserve 
 Bank and other central banks     |     | $ |  58,173 |               | $ |  47,434 |              |
| Available investment securities  |     |   |  49,267 |               |   |  67,910 |              |
| Borrowing capacity from the      
 Federal Reserve Bank and         
 FHLB                             |     |   | 204,915 |               |   | 171,226 |              |
| Total available liquidity        |     | $ | 312,355 |               | $ | 286,570 |              |

The Company’s diversified deposit base provides a sizeable source of relatively stable and low-cost funding, while reducing the Company’s reliance