Company: KEY-PI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000091576-25-000110
Chunk: 175

Company: KEYCORP /NEW/
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 175
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 an asset or transfer a liability in an orderly transaction between market participants in the principal market of the asset or liability. Additional information regarding our accounting policies for determining fair value is provided in Note 6 (“Fair Value Measurements”) and Note 1 (“Summary of Significant Accounting Policies”) under the heading “Fair Value Measurements” of our 2024 Form 10-K. 

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Assets and Liabilities Measured at Fair Value on a Recurring BasisCertain assets and liabilities are measured at fair value on a recurring basis in accordance with GAAP. For more information on the valuation techniques used to measure classes of assets and liabilities reported at fair value on a recurring basis as well as the classification of each in the valuation hierarchy, refer to Note 6 (“Fair Value Measurements”) in our 2024 Form 10-K. The following tables present these assets and liabilities at June 30, 2025, and December 31, 2024.June 30, 2025December 31, 2024Level 1Level 2Level 3TotalLevel 1Level 2Level 3TotalDollars in millionsASSETS MEASURED ON A RECURRING BASISTrading account assets:U.S. Treasury, agencies and corporations$— $836 $— $836 $— $930 $— $930 States and political subdivisions— 130 — 130 — 127 — 127 Other mortgage-backed securities— 377 — 377 — 183 — 183 Other securities— 22 — 22 — 25 — 25 Total trading account securities— 1,365 — 1,365 — 1,265 — 1,265 Commercial loans— 9 — 9 — 18 — 18 Total trading account assets— 1,374 — 1,374 — 1,283 — 1,283 Securities available for sale:U.S. Treasury, agencies and corporations— 8,343 — 8,343 — 8,904 — 8,904 Agency residential collateralized mortgage obligations— 8,930 — 8,930 — 9,224 — 9,224 Agency residential mortgage-backed securities— 19,254 — 19,254 — 15,169 — 15,169 Agency commercial mortgage-backed