Company: FITBI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000035527-25-000171
Chunk: 151

Company: FIFTH THIRD BANCORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 8
Chunk 151
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 in other liabilities in the Condensed Consolidated Balance Sheets. The Bancorp monitors the credit risk associated with commitments to extend credit using the same standard regulatory risk rating systems utilized for its loan and lease portfolio.Risk ratings of outstanding commitments to extend credit under this risk rating system are summarized in the following table as of:($ in millions)June 30,2025December 31,2024Pass$81,105 78,734 Special mention709 850 Substandard917 1,095 Doubtful34 1 Total commitments to extend credit$82,765 80,680 Letters of creditStandby and commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party and expire as summarized in the following table as of June 30, 2025:($ in millions)Less than 1 year(a)$1,038 1 - 5 years(a)857 Over 5 years4 Total letters of credit$1,899 (a)Includes $2 issued on behalf of commercial customers to facilitate trade payments in U.S. dollars and foreign currencies which expire in less than 1 year and $2 that expire between 1 - 5 years.Standby letters of credit accounted for approximately 99% of total letters of credit at both June 30, 2025 and December 31, 2024 and are considered guarantees in accordance with U.S. GAAP. Approximately 74% and 76% of the total standby letters of credit were collateralized as of June 30, 2025 and December 31, 2024, respectively. In the event of nonperformance by the customers, the Bancorp has rights to the underlying collateral, which can include commercial real estate, physical plant and property, inventory, receivables, cash and marketable securities. The reserve related to these standby letters of credit, which was included in the total reserve for unfunded commitments, was $10 

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Table of ContentsFifth Third Bancorp and SubsidiariesNotes to Condensed Consolidated Financial Statements (unaudited)

million and $12 million at June 30, 2025 and December 31, 2024, respectively. The Bancorp monitors the credit risk associated with letters of credit using the same standard regulatory risk rating systems utilized for its loan and lease portfolio.Risk ratings of outstanding letters of credit under this risk rating system are summarized in the following table as of:($ in millions)June