Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 151

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 151
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 3 percent, reflecting lower derivative income, partially offset by an increase in advisory and investment banking fees.

Commercial lending fees include fees assessed on the unused portion of lines of credit (unused commitment fees) and loan servicing fees. These fees decreased $4 million, or 6 percent, driven by lower commitment fees due to a decline in loan commitments.

Risk management hedging income increased $50 million, reflecting a decline in losses related to BSBY cessation, partially offset by a decline in price alignment income received on collateral posted for centrally-cleared risk management positions. Refer to the "BSBY Cessation" subheading in the "Market and Liquidity Risk" section of this financial review, as well as Note 8 to the consolidated financial statements, for further discussion of de-designated interest rate hedges.

Brokerage fees are commissions earned for facilitating securities transactions for customers as well as other brokerage services provided. In November 2023, the Corporation transitioned the support of its retail brokerage business, including specific insurance, brokerage and investment advisory activities previously conducted by the Corporation's broker-dealer subsidiary, to Ameriprise Financial Institutions Group (Ameriprise), an independent financial services broker. Since this transition, brokerage fees include income from sales of select investment products of an independent financial services broker, net of commissions passed through to employees licensed by the independent broker to sell their products. Brokerage fees increased $21 million, or 69 percent, reflecting the full-year impact of the Corporation's new investment program partner, including additional service fee revenue.

Net losses on debt securities totaled $19 million for the year ended December 31, 2024, with no corresponding amount in the 2023 period, and was related to the sale of $827 million of Treasury securities that were replaced with higher-yielding Treasury securities with a duration of 1.9 years.

Other noninterest income decreased $23 million, or 29 percent, as detailed below, driven by a decrease in FHLB stock dividends reflecting redemptions of stock corresponding with the decline in advances, partially offset by a $5 million negotiated vendor payment received during the 2024 period.

(in millions)Years Ended December 31202420232022FHLB and FRB stock dividends$17 $30 $3 Deferred compensation asset returns (a)11 13 (18)Securities trading income (b)— 13 13 Insurance commissions (b)— 12 13 All other noninterest income32 15 20