KEYCORP /NEW/
For the period ended Jun 30, 2026. Filed Aug 4, 2026.
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.
Jun 30, 2026 · Filed Aug 4, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Securities
We manage our securities portfolio according to the following priorities: 1) store of liquidity, 2) interest rate risk management tool, and 3) source of earnings. In keeping with the first priority, the portfolio provides securities to meet our pledging requirements. Our securities portfolio totaled $48.0 billion at June 30, 2026, compared to $48.2 billion at December 31, 2025. Available-for-sale securities were $38.5 billion at June 30, 2026, compared to $39.6 billion at December 31, 2025. Held-to-maturity securities were $9.5 billion at June 30, 2026, and $8.6 billion at December 31, 2025.
Securities available for sale
The majority of our securities available-for-sale portfolio consists of federal agency mortgage-backed securities and CMOs. CMOs are debt securities secured by a pool of mortgages or mortgage-backed securities.
Figure 14 shows the composition, yields, and remaining maturities of our securities available for sale. For more information about these securities, including gross unrealized gains and losses by type of security and securities pledged, see Note 6 (“Securities”).
Figure 14. Securities Available for Sale
| Dollars in millions · U.S. Treasury, Agencies, and Corporations · Agency Residential Collateralized Mortgage Obligations(a) · Agency Residential Mortgage-backed Securities(a) · Agency Commercial Mortgage-backed Securities(a) · Total · Weighted-Average Yield(c) | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Remaining maturity: | |||||||||
| One year or less | $3,237 | $4 | $43 | $67 | $3,351 | 4.30% | |||
| After one through five years | 3,728 | 1,108 | 3,331 | 1,144 | 9,311 | 3.37 | |||
| After five through ten years | 41 | 6,470 | 11,971 | 2,188 | 20,670 | 3.65 | |||
| After ten years | 69 | 413 | 4,263 | 382 | 5,127 | 4.12 | |||
| Fair value | $7,075 | $7,995 | $19,608 | $3,781 | $38,459 | ||||
| Amortized cost(b) | $7,102 | $9,726 | $20,028 | $4,148 | $41,004 | 3.70% | |||
| Weighted-average yield(c) | 4.11% | 1.92% | 4.59% | 2.90% | 3.70% | — | |||
| Weighted-average maturity | 1.3 years | 7.7 years | 10.3 years | 6.6 years | 7.8 years | — | |||
| Fair value | $7,886 | $8,565 | $19,195 | $3,950 | $39,596 | ||||
| Amortized cost | 7,842 | 10,269 | 19,451 | 4,284 | 41,846 | 3.67% | |||
(a)Maturity is based upon expected average lives rather than contractual terms.
(b)Excluded from the amortized cost of securities available for sale are basis adjustments for securities designated in active fair value hedges. Basis adjustments totaled $(26) million and $99 million as of June 30, 2026 and December 31, 2025, respectively. The securities being hedged are primarily U.S. Treasuries, Agency RMBS, and Agency CMBS.
(c)Weighted-average yields are calculated based on amortized cost. Such yields have been adjusted to a TE basis using the statutory federal income tax rate in effect that calendar year.
Held-to-maturity securities
The majority of our held-to-maturity portfolio consists of Federal agency CMOs and mortgage-backed securities. This portfolio is also comprised of asset-backed securities and foreign bonds. Figure 15 shows the composition, yields, and remaining maturities of these securities.
Figure 15. Held-to-Maturity Securities
| Dollars in millions · Agency Residential Collateralized Mortgage Obligations (a) · Agency Residential Mortgage-backed Securities(a) · Agency Commercial Mortgage-backed Securities(a) · Asset-backed securities · OtherSecurities · Total · Weighted-Average Yield(b) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Remaining maturity: | ||||||||||
| One year or less | $19 | $— | $245 | $17 | $9 | $290 | 2.94% | |||
| After one through five years | 1,018 | 484 | 558 | 2 | 12 | 2,074 | 3.64 | |||
| After five through ten years | 2,667 | 3,389 | 191 | — | — | 6,247 | 4.44 | |||
| After ten years | 50 | 62 | 792 | — | — | 904 | 3.31 | |||
| Amortized cost | $3,754 | $3,935 | $1,786 | $19 | $21 | $9,515 | 4.11% | |||
| Fair value | $3,548 | $3,896 | $1,642 | $18 | $20 | $9,124 | ||||
| Weighted-average yield(b) | 3.79% | 4.92% | 3.03% | 1.88% | 4.48% | 4.11% | — | |||
| Weighted-average maturity | 6.3 years | 6.2 years | 9.3 years | 0.9 years | 1.2 years | 6.8 years | — | |||
| Amortized cost | $4,026 | $2,374 | $2,121 | $77 | $24 | $8,622 | 3.87% | |||
| Fair value | 3,858 | 2,373 | 1,983 | 75 | 24 | 8,313 | ||||
(a)Maturity is based upon expected average lives rather than contractual terms.
(b)Weighted-average yields are calculated based on amortized cost. Such yields have been adjusted to a TE basis using the statutory federal income tax rate in effect that calendar year.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.