DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

6 Months Ended

Jun. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts and Gross Fair Values of Derivative Assets and Derivative Liabilities

The following table presents notional amounts and gross fair values of our derivative assets and derivative liabilities which are not offset in the Consolidated Balance Sheets:

TABLE 11.1


	June 30, 2026						December 31, 2025
	Notional		Fair Value				Notional		Fair Value
(in millions)	Amount		Assets		Liabilities		Amount		Assets		Liabilities
Gross Derivatives
Subject to master netting arrangements:
Interest rate contracts – designated	$	1,500	$	—	$	4	$	1,650	$	13	$	—
Interest rate swaps – not designated	5,881		66		17		6,064		51		51

Total subject to master netting arrangements	7,381		66		21		7,714		64		51
Not subject to master netting arrangements:
Interest rate swaps – not designated	5,881		17		173		6,064		51		155
Interest rate lock commitments – not designated	276		3		—		298		7		—
Forward delivery commitments – not designated	417		1		2		458		—		2
Credit risk contracts – not designated	759		—		—		815		—		—

Total not subject to master netting arrangements	7,333		21		175		7,635		58		157
Total	$	14,714	$	87	$	196	$	15,349	$	122	$	208

Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income (AOCI)

The following table shows amounts reclassified from AOCI:

TABLE 11.2


	Amount of Gain (Loss) Recognized in OCI on Derivatives				Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
	Six Months Ended June 30,					Six Months Ended June 30,
(in millions)	2026		2025			2026		2025
Derivatives in cash flow hedging relationships:
Interest rate contracts	$	(16)	$	16	Interest income (expense)	$	1	$	(15)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table represents gains (losses) recognized in the Consolidated Statements of Income on cash flow hedging relationships:

TABLE 11.3


	Six months ended June 30,
	2026				2025
(in millions)	Interest Income - Loans and Leases		Interest Expense - Short-Term Borrowings		Interest Income - Loans and Leases		Interest Expense - Short-Term Borrowings
Total amounts of income and expense line items presented in the Consolidated Statements of Income (the effects of cash flow hedges are included in these line items)	$	979	$	37	$	981	$	34
The effects of cash flow hedging:
Gain (loss) on cash flow hedging relationships:
Interest rate contracts:
Amount of gain (loss) reclassified from AOCI into net income	1		—		(15)		—

Schedule of Derivative Financial Instruments on the Consolidated Statements of Income

The following table presents the effect of certain derivative financial instruments on the Consolidated Statements of Income:

TABLE 11.4


		Six Months Ended June 30,
(in millions)	Consolidated Statements of Income Location	2026		2025
Interest rate swaps	Non-interest income - other	$	—	$	—

Mortgage banking contracts	Mortgage banking operations	—		(8)
Credit risk contracts	Non-interest income - other	—		—

Schedule of Offsetting Assets

The following table presents a reconciliation of the net amounts of derivative assets and derivative liabilities presented in the Consolidated Balance Sheets to the net amounts that would result in the event of offset. Swap derivative transactions with customers are generally secured by rights to non-financial collateral, such as real and personal property, which is not shown in the table below.

TABLE 11.5


							Gross Amounts Not Offset in the Consolidated Balance Sheets
(in millions)	Gross Amount Recognized		Gross Amount Offset in the Consolidated Balance Sheets		Net Amount Presented in the Consolidated Balance Sheets		Financial Instruments Available for Offset		Collateral Received/Pledged		Net Amount
June 30, 2026
Derivative Assets
Subject to master netting arrangement	$	66	$	—	$	66	$	17	$	45	$	4
Not subject to master netting arrangement	17		—		17
Total	$	83	$	—	$	83


Derivative Liabilities
Subject to master netting arrangement	$	21	$	—	$	21	$	17	$	4	$	—
Not subject to master netting arrangement	173		—		173
Total	$	194	$	—	$	194


December 31, 2025
Derivative Assets
Subject to master netting arrangement	$	64	$	—	$	64	$	43	$	20	$	1
Not subject to master netting arrangement	51		—		51
Total	$	115	$	—	$	115


Derivative Liabilities
Subject to master netting arrangement	$	51	$	—	$	51	$	43	$	8	$	—
Not subject to master netting arrangement	155		—		155
Total	$	206	$	—	$	206

Schedule of Offsetting Liabilities

TABLE 11.5


							Gross Amounts Not Offset in the Consolidated Balance Sheets
(in millions)	Gross Amount Recognized		Gross Amount Offset in the Consolidated Balance Sheets		Net Amount Presented in the Consolidated Balance Sheets		Financial Instruments Available for Offset		Collateral Received/Pledged		Net Amount
June 30, 2026
Derivative Assets
Subject to master netting arrangement	$	66	$	—	$	66	$	17	$	45	$	4
Not subject to master netting arrangement	17		—		17
Total	$	83	$	—	$	83


Derivative Liabilities
Subject to master netting arrangement	$	21	$	—	$	21	$	17	$	4	$	—
Not subject to master netting arrangement	173		—		173
Total	$	194	$	—	$	194


December 31, 2025
Derivative Assets
Subject to master netting arrangement	$	64	$	—	$	64	$	43	$	20	$	1
Not subject to master netting arrangement	51		—		51
Total	$	115	$	—	$	115


Derivative Liabilities
Subject to master netting arrangement	$	51	$	—	$	51	$	43	$	8	$	—
Not subject to master netting arrangement	155		—		155
Total	$	206	$	—	$	206

- Definition

Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements.

+ References + Details

- Definition

Tabular disclosure of derivative and other financial liabilities that are subject to offsetting, including master netting arrangements.

+ References + Details