PNC FINANCIAL SERVICES GROUP INC
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
Contents
Fair Value Option – Changes in Fair Value
The changes in fair value for items for which we elected the fair value option are as follows:
Table 69: Fair Value Option – Changes in Fair Value (a)
| Gains (Losses) | ||
|---|---|---|
| Three months ended | ||
| March 31 | March 31 | |
| In millions | 2024 | 2023 |
| Assets | ||
| Residential mortgage loans held for sale | $8 | $15 |
| Commercial mortgage loans held for sale | $(5) | $1 |
| Loans | $6 | $4 |
| Other assets | $5 | $(14) |
| Liabilities | ||
| Other liabilities | $(2) | $(20) |
(a)The impact on earnings of offsetting hedged items or hedging instruments is not reflected in these amounts.
Additional Fair Value Information Related to Financial Instruments Not Recorded at Fair Value
The following table presents the carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of all other financial instruments that are not recorded on our Consolidated Balance Sheet at fair value as of March 31, 2024 and December 31, 2023. For more information regarding the methods and assumptions used to estimate the fair values of financial instruments included in Table 70, see Note 14 Fair Value in our 2023 Form 10-K.
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