PNC FINANCIAL SERVICES GROUP INC
For the period ended Sep 30, 2024. Filed Nov 1, 2024.
View on SEC.govAbout this filing
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.
Sep 30, 2024 · Filed Nov 1, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
FHLB Borrowings, Senior Debt and Subordinated Debt
The following table presents the contractual rates and maturity dates of our FHLB borrowings, senior debt and subordinated debt as of September 30, 2024, and the carrying values as of September 30, 2024 and December 31, 2023.
Table 59: FHLB Borrowings, Senior Debt and Subordinated Debt
| Stated Rate · Maturity · Carrying Value | ||||
|---|---|---|---|---|
| Dollars in millions | September 30, 2024 | September 30, 2024 | September 30, 2024 | December 31, 2023 |
| Parent Company | ||||
| Senior debt | 1.15% - 6.88% | 2024 - 2035 | $28,394 | $22,221 |
| Subordinated debt | 4.63% | 2033 | 814 | 1,544 |
| Junior subordinated debt | 5.85% | 2028 | 206 | 206 |
| Total Parent Company | 29,414 | 23,971 | ||
| Bank | ||||
| Federal Home Loan Bank borrowings (a) | 5.07% - 5.43% | 2024 - 2026 | 28,000 | 38,000 |
| Senior debt | 2.95% - 5.99% | 2024 - 2043 | 4,098 | 4,615 |
| Subordinated debt | 2.70% - 5.90% | 2025 - 2029 | 3,176 | 3,125 |
| Total Bank | 35,274 | 45,740 | ||
| Total | $64,688 | $69,711 | ||
(a)FHLB borrowings are generally collateralized by residential mortgage loans, other mortgage-related loans and investment securities.
In Table 59, the carrying values for parent company senior and subordinated debt include basis adjustments of $124 million and $(32) million, respectively, whereas Bank senior and subordinated debt include basis adjustments of $(74) million and $(101) million, respectively, related to fair value accounting hedges as of September 30, 2024.
Certain borrowings are reported at fair value. Refer to Note 11 Fair Value for more information on those borrowings.
For further information regarding junior subordinated debentures, refer to Note 9 Borrowed Funds in our 2023 Form 10-K.
The PNC Financial Services Group, Inc. –Form 10-Q 71
NOTE 8 COMMITMENTS
In the normal course of business, we have various commitments outstanding, certain of which are not included on our Consolidated Balance Sheet. The following table presents our outstanding commitments to extend credit along with other commitments as of September 30, 2024 and December 31, 2023, respectively.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.