PNC FINANCIAL SERVICES GROUP INC

Table 28: Primary Contingent Liquidity Sources

(a)Represents the fair value of investment securities that can be used for pledging or to secure other sources of funding.

(b)At December 31, 2024, total FHLB borrowing capacity was $73.3 billion and total FHLB advances and letters of credit were $22.3 billion. Comparable amounts at December 31, 2023 were $73.4 billion and $38.0 billion, respectively.

(c)Total borrowing capacity with the Federal Reserve Bank was $77.9 billion at December 31, 2024 and $47.2 billion at December 31, 2023. PNC had no outstanding borrowings with the Federal Reserve Bank at December 31, 2024 and 2023.

As part of PNC’s contingency planning, during 2024 we increased the amount of investment securities prepositioned at the Federal Reserve Bank’s Discount Window, supporting our resilience and operational readiness.

Bank Liquidity

In addition to our primary contingent liquidity sources, under PNC Bank’s 2014 bank note program, as amended, PNC Bank may from time to time offer up to $40.0 billion aggregate principal amount outstanding at any one time of its unsecured senior and subordinated notes with maturity dates more than nine months (in the case of senior notes) and five years or more (in the case of subordinated notes) from their date of issue. At December 31, 2024, PNC Bank’s remaining capacity to issue under the program was $32.3 billion.

Under PNC Bank’s 2013 commercial paper program, PNC Bank has the ability to offer up to $10.0 billion of its commercial paper to provide additional liquidity. As of December 31, 2024, there were no issuances outstanding under this program.

Additionally, PNC Bank may also access funding from the parent company through deposits placed at the bank or issuing intercompany unsecured notes.