XML 48 R31.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Derivative Financial Instruments and Hedging Activities (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule Of Derivative Instruments Notional And Fair Values | The following tables present the notional amount and estimated fair value of derivative instruments.
| March 31, 2024 |  | December 31, 2023
| Notional Amount(1) |  | Estimated Fair Value |  | Notional Amount |  | Estimated Fair Value
| Gain(1) |  | Loss(1) |  | Gain(1) |  | Loss(1)
| (In millions)
Derivatives in fair value hedging relationships: |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 2,985 |  |  | $ | 3 |  |  | $ | 126 |  |  | $ | 2,975 |  |  | $ | 1 |  |  | $ | 121 |
Derivatives in cash flow hedging relationships: |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | 31,050 |  |  | 4 |  |  | 809 |  |  | 29,550 |  |  | 43 |  |  | 580 |
Interest rate options | 2,000 |  |  | 10 |  |  | 9 |  |  | 2,000 |  |  | 21 |  |  | 13 |
Total derivatives in cash flow hedging relationships | 33,050 |  |  | 14 |  |  | 818 |  |  | 31,550 |  |  | 64 |  |  | 593 |
Total derivatives designated as hedging instruments | $ | 36,035 |  |  | $ | 17 |  |  | $ | 944 |  |  | $ | 34,525 |  |  | $ | 65 |  |  | $ | 714 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 101,364 |  |  | $ | 1,958 |  |  | $ | 1,934 |  |  | $ | 99,892 |  |  | $ | 1,769 |  |  | $ | 1,718 |
Interest rate options | 12,288 |  |  | 66 |  |  | 53 |  |  | 13,497 |  |  | 66 |  |  | 57 |
Interest rate futures and forward commitments | 1,195 |  |  | 10 |  |  | 1 |  |  | 655 |  |  | 7 |  |  | 12 |
Other contracts | 11,741 |  |  | 180 |  |  | 164 |  |  | 12,007 |  |  | 198 |  |  | 190 |
Total derivatives not designated as hedging instruments | $ | 126,588 |  |  | $ | 2,214 |  |  | $ | 2,152 |  |  | $ | 126,051 |  |  | $ | 2,040 |  |  | $ | 1,977 |
Total derivatives | $ | 162,623 |  |  | $ | 2,231 |  |  | $ | 3,096 |  |  | $ | 160,576 |  |  | $ | 2,105 |  |  | $ | 2,691 |
Total gross derivative instruments, before netting |  |  | $ | 2,231 |  |  | $ | 3,096 |  |  |  |  | $ | 2,105 |  |  | $ | 2,691 |
Less: Netting adjustments (2) |  |  | 2,160 |  |  | 1,802 |  |  |  |  | 2,029 |  |  | 1,560 |
Total gross derivative instruments, after netting |  |  | $ | 71 |  |  | $ | 1,294 |  |  |  |  | $ | 76 |  |  | $ | 1,131 |
_________ (1)Derivatives in a gain position are recorded as other assets and derivatives in a loss position are recorded as other liabilities on the consolidated balance sheets. Includes accrued interest as applicable. The table reflects net notional presentation and gross asset and liability presentation to capture the economic impact of the trades. (2)Netting adjustments represent amounts recorded to convert derivative assets and derivative liabilities from a gross basis to a net basis in accordance with applicable accounting guidance. The net basis takes into account the impact of cash collateral received or posted, legally enforceable master netting agreements, and variation margin that allow Regions to settle derivative contracts with the counterparty on a net basis and to offset the net position with the related cash collateral. Cash collateral, all of which is included as a netting adjustment, totaled $247 million and $243 million for derivative assets at March 31, 2024 and December 31, 2023, respectively. Cash collateral totaled $46 million and $43 million for derivative liabilities at March 31, 2024 and December 31, 2023, respectively.
Schedule Of Effect Of Hedging Derivative Instruments On Statements Of Operations | The following tables present the effect of hedging derivative instruments on the consolidated statements of income and the total amounts for the respective line items affected:
| Three Months Ended March 31, 2024
| Interest Income |  | Interest Income |  | Interest Expense |  | Interest Expense
| Debt securities |  | Loans, including fees |  | Long-term borrowings |  | Deposits
| (In millions) |  |
Total income (expense) presented in the consolidated statements of income | $ | 209 |  |  | $ | 1,421 |  |  | $ | (44) |  |  | $ | (495) |
Gains/(losses) on fair value hedging relationships: |  |  |  |  |  |  |
Interest rate contracts: |  |  |  |  |  |  |
Amounts related to interest settlements on derivatives | $ | 3 |  |  | $ | — |  |  | $ | (17) |  |  | $ | — |
Recognized on derivatives | 6 |  |  | — |  |  | (4) |  |  | (1) |
Recognized on hedged items | (7) |  |  | — |  |  | 4 |  |  | 1 |
Income (expense) recognized on fair value hedges | $ | 2 |  |  | $ | — |  |  | $ | (17) |  |  | $ | — |
Gains/(losses) on cash flow hedging relationships: (1) |  |  |  |  |  |  |
Interest rate contracts: |  |  |  |  |  |  |
Realized gains (losses) reclassified from AOCI into net income (2) | $ | — |  |  | $ | (117) |  |  | $ | — |  |  | $ | — |
Income (expense) recognized on cash flow hedges | $ | — |  |  | $ | (117) |  |  | $ | — |  |  | $ | — |
| Three Months Ended March 31, 2023
| Interest Income |  | Interest Income |  | Interest Expense
| Debt securities |  | Loans, including fees |  | Long-term borrowings
| (In millions)
Total income (expense) presented in the consolidated statements of income | $ | 187 |  |  | $ | 1,360 |  |  | $ | (40) |
Gains/(losses) on fair value hedging relationships: |  |  |  |  |
Interest rate contracts: |  |  |  |  |
Amounts related to interest settlements on derivatives | $ | — |  |  | $ | — |  |  | $ | (14) |
Recognized on derivatives | — |  |  | — |  |  | 23 |
Recognized on hedged items | — |  |  | — |  |  | (23) |
Income (expense) recognized on fair value hedges | $ | — |  |  | $ | — |  |  | $ | (14) |
Gains/(losses) on cash flow hedging relationships: (1) |  |  |  |  |
Interest rate contracts: |  |  |  |  |
Realized gains (losses) reclassified from AOCI into net income (2) | $ | — |  |  | $ | (15) |  |  | $ | — |
Income (expense) recognized on cash flow hedges | $ | — |  |  | $ | (15) |  |  | $ | — |
____ (1)See Note 6 for gain or (loss) recognized for cash flow hedges in AOCI. (2)Pre-tax
Schedule of Fair Value Hedging Basis Adjustments | The following tables present the carrying amount and associated cumulative basis adjustment related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships.
| March 31, 2024 |  | December 31, 2023
| Hedged Items Currently Designated |  |  |  | Hedged Items Currently Designated |  |
| Carrying Amount of Assets/(Liabilities) |  | Hedge Accounting Basis Adjustment |  |  |  |  |  | Carrying Amount of Assets/(Liabilities) |  | Hedge Accounting Basis Adjustment |  |
| (In millions) |  | (In millions) |  |
Debt securities available for sale(1)(2) | $ | 1,624 |  |  | $ | (1) |  |  |  |  |  |  | $ | 1,653 |  |  | $ | 5 |  |  |
Long-term borrowings | (1,282) |  |  | 116 |  |  |  |  |  |  | (1,286) |  |  | 112 |  |  |
Time deposits | (261) |  |  | 1 |  |  |  |  |  |  | (252) |  |  | — |  |  |
_____ (1) At March 31, 2024 and December 31, 2023, the Company designated interest rate swaps as fair value hedges of debt securities available for sale under the portfolio layer method under which the Company designated $1.0 billion as the hedged amount from a closed portfolio of prepayable financial assets with a carrying amount of $1.3 billion. (2) Carrying amount represents amortized cost.
Schedule Of Gains (Losses) Recognized In Income Related To Derivatives Not Designated As Hedging Instruments | The following table presents the location and amount of gain or (loss) recognized in income on derivatives not designated as hedging instruments in the consolidated statements of income for the periods presented below:
|  |  | Three Months Ended March 31 |  |
Derivatives Not Designated as Hedging Instruments |  |  |  |  | 2024 |  | 2023 |  |
|  |  |  |  | (In millions)
Capital markets income: |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  |  |  | $ | 9 |  |  | $ | (28) |  |  |
Interest rate options |  |  |  |  | 9 |  |  | 9 |  |  |
Interest rate futures and forward commitments |  |  |  |  | 8 |  |  | 4 |  |  |
Other contracts |  |  |  |  | 6 |  |  | (2) |  |  |
Total capital markets income |  |  |  |  | 32 |  |  | (17) |  |  |
Mortgage income: |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  |  |  | (15) |  |  | 7 |  |  |
Interest rate options |  |  |  |  | 1 |  |  | 3 |  |  |
Interest rate futures and forward commitments |  |  |  |  | 10 |  |  | (1) |  |  |
Total mortgage income |  |  |  |  | (4) |  |  | 9 |  |  |
|  |  |  |  | $ | 28 |  |  | $ | (8) |  |  |

X
- Definition Schedule of Fair Value Hedging Basis Adjustments [Table Text Block] + References No definition available. + Details
Name: | rf_ScheduleofFairValueHedgingBasisAdjustmentsTableTextBlock
Namespace Prefix: | rf_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4CC + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration