XML 50 R38.htm IDEA: XBRL DOCUMENT
v3.25.1

FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Fair Value Disclosures [Abstract] |
Fair value option | The following table presents the difference between the aggregate fair value and the aggregate unpaid principal balance of LHFS measured at fair value:
| March 31, 2025 |  | December 31, 2024
(dollars in millions) | Aggregate Fair Value | Aggregate Unpaid Principal | Aggregate Fair Value Greater (Less) Than Aggregate Unpaid Principal |  | Aggregate Fair Value | Aggregate Unpaid Principal | Aggregate Fair Value Greater (Less) Than Aggregate Unpaid Principal
Residential mortgage loans held for sale | $922 |  | $894 |  | $28 |  |  | $633 |  | $625 |  | $8 |
Commercial loans held for sale | 215 |  | 226 |  | (11) |  |  | 192 |  | 199 |  | (7) |
Assets and liabilities measured on recurring basis | The following table presents assets and liabilities measured at fair value, including gross derivative assets and liabilities, on a recurring basis at March 31, 2025:
(dollars in millions) | Total | Level 1 | Level 2 | Level 3
Debt securities available for sale: |  |  |  |
Mortgage-backed securities | $30,014 |  | $— |  | $30,014 |  | $— |
Collateralized loan obligations | 124 |  | — |  | 124 |  | — |
State and political subdivisions | 1 |  | — |  | 1 |  | — |
U.S. Treasury and other | 4,069 |  | 4,069 |  | — |  | — |
Total debt securities available for sale | 34,208 |  | 4,069 |  | 30,139 |  | — |
Loans held for sale: |  |  |  |
Residential loans held for sale | 922 |  | — |  | 922 |  | — |
Commercial loans held for sale | 215 |  | — |  | 215 |  | — |
Total loans held for sale, at fair value | 1,137 |  | — |  | 1,137 |  | — |
Mortgage servicing rights | 1,397 |  | — |  | — |  | 1,397 |
Derivative assets: |  |  |  |
Interest rate contracts | 459 |  | — |  | 459 |  | — |
Foreign exchange contracts | 318 |  | — |  | 318 |  | — |
Commodities contracts | 689 |  | — |  | 689 |  | — |
TBA contracts | 2 |  | — |  | 2 |  | — |
Other contracts | 9 |  | — |  | 1 |  | 8 |
Total derivative assets | 1,477 |  | — |  | 1,469 |  | 8 |
Equity securities, at fair value(1) | 178 |  | 178 |  | — |  | — |
Short-term investments | 55 |  | 20 |  | 35 |  | — |
Total assets | $38,452 |  | $4,267 |  | $32,780 |  | $1,405 |
Derivative liabilities: |  |  |  |
Interest rate contracts | $684 |  | $— |  | $684 |  | $— |
Foreign exchange contracts | 326 |  | — |  | 326 |  | — |
Commodities contracts | 634 |  | — |  | 634 |  | — |
TBA contracts | 10 |  | — |  | 10 |  | — |
Other contracts | 3 |  | — |  | — |  | 3 |
Total derivative liabilities | 1,657 |  | — |  | 1,654 |  | 3 |
Short-term borrowed funds | 47 |  | 39 |  | 8 |  | — |
Other liabilities | 106 |  | — |  | 106 |  | — |
Total liabilities | $1,810 |  | $39 |  | $1,768 |  | $3 |
(1) Excludes investments of $58 million included in other assets in the Consolidated Balance Sheets that are measured at fair value using the net asset value per share (or its equivalent) practical expedient. These investments include capital contributions to private investment funds and have unfunded capital commitments of $23 million at March 31, 2025, which may be called at any time during prescribed time periods. The credit exposure is generally limited to the carrying amount of investments made and unfunded capital commitments. The following table presents assets and liabilities measured at fair value, including gross derivative assets and liabilities, on a recurring basis at December 31, 2024:
(dollars in millions) | Total | Level 1 | Level 2 | Level 3
Debt securities available for sale: |  |  |  |
Mortgage-backed securities | $29,055 |  | $— |  | $29,055 |  | $— |
Collateralized loan obligations | 184 |  | — |  | 184 |  | — |
State and political subdivisions | 1 |  | — |  | 1 |  | — |
U.S. Treasury and other | 3,525 |  | 3,525 |  | — |  | — |
Total debt securities available for sale | 32,765 |  | 3,525 |  | 29,240 |  | — |
Loans held for sale: |  |  |  |
Residential loans held for sale | 633 |  | — |  | 633 |  | — |
Commercial loans held for sale | 192 |  | — |  | 192 |  | — |
Total loans held for sale, at fair value | 825 |  | — |  | 825 |  | — |
Mortgage servicing rights | 1,491 |  | — |  | — |  | 1,491 |
Derivative assets: |  |  |  |
Interest rate contracts | 562 |  | — |  | 562 |  | — |
Foreign exchange contracts | 472 |  | — |  | 472 |  | — |
Commodities contracts | 429 |  | — |  | 429 |  | — |
TBA contracts | 10 |  | — |  | 10 |  | — |
Other contracts | 3 |  | — |  | — |  | 3 |
Total derivative assets | 1,476 |  | — |  | 1,473 |  | 3 |
Equity securities, at fair value(1) | 162 |  | 162 |  | — |  | — |
Short-term investments | 53 |  | 40 |  | 13 |  | — |
Total assets | $36,772 |  | $3,727 |  | $31,551 |  | $1,494 |
Derivative liabilities: |  |  |  |
Interest rate contracts | $910 |  | $— |  | $910 |  | $— |
Foreign exchange contracts | 411 |  | — |  | 411 |  | — |
Commodities contracts | 379 |  | — |  | 379 |  | — |
TBA contracts | 8 |  | — |  | 8 |  | — |
Other contracts | 2 |  | — |  | — |  | 2 |
Total derivative liabilities | 1,710 |  | — |  | 1,708 |  | 2 |
Short-term borrowed funds | — |  | — |  | — |  | — |
Other liabilities | 101 |  | — |  | 101 |  | — |
Total liabilities | $1,811 |  | $— |  | $1,809 |  | $2 |
(1) Excludes investments of $58 million included in other assets in the Consolidated Balance Sheets that are measured at fair value using the net asset value per share (or its equivalent) practical expedient. These investments include capital contributions to private investment funds and have unfunded capital commitments of $24 million at December 31, 2024, which may be called at any time during prescribed time periods. The credit exposure is generally limited to the carrying amount of investments made and unfunded capital commitments.
Assets measured at fair value on recurring basis and classified as Level 3 | The following tables present a roll forward of the balance sheet amounts for assets and liabilities measured at fair value on a recurring basis and classified as Level 3:
|  |  | Three Months Ended March 31, 2025
(dollars in millions) |  |  |  | Mortgage Servicing Rights | Other Derivative Contracts
Beginning balance |  |  |  | $1,491 |  | $1 |
Issuances |  |  |  | 27 |  | 16 |
Sales(1) |  |  |  | (72) |  | — |
Settlements(2) |  |  |  | (39) |  | (16) |
Changes in fair value during the period recognized in earnings(3) |  |  |  | (10) |  | 4 |
Ending balance |  |  |  | $1,397 |  | $5 |
| Three Months Ended March 31, 2024 |  |
(dollars in millions) | Mortgage Servicing Rights | Other Derivative Contracts |  |  |
Beginning balance | $1,552 |  | $7 |  |  |  |
Issuances | 18 |  | 13 |  |  |  |
Settlements(2) | (46) |  | (10) |  |  |  |
Changes in fair value during the period recognized in earnings(3) | 40 |  | (2) |  |  |  |
Ending balance | $1,564 |  | $8 |  |  |  |
(1) For MSRs, represents the sale of the excess servicing yield on MSRs. (2) For MSRs, represents changes in value of the MSRs due to i) passage of time including the impact from both regularly scheduled loan principal payments and partial paydowns, and ii) loans that paid off during the period. For other derivative contracts, represents the closeout of interest rate lock commitments. (3) Represents changes in value primarily driven by market conditions. These changes are recorded in mortgage banking fees and other income in the Consolidated Statements of Operations.
Fair value measurement inputs and valuation techniques | The following table presents quantitative information about significant unobservable inputs utilized to measure the fair value of Level 3 assets and liabilities.
|  |  | As of March 31, 2025 |  | As of December 31, 2024
Financial Instrument(1) | Valuation Technique | Unobservable Input | Range (Weighted Average) |  | Range (Weighted Average)
Mortgage servicing rights | Discounted Cash Flow | Constant prepayment rate | 5.65-16.12% CPR (7.10% CPR) |  | 5.08-16.32% CPR (6.70% CPR)
Option adjusted spread | 398-1,058 bps (628 bps) |  | 398-1,058 bps (632 bps)
Other derivative contracts | Internal Model | Pull through rate | 6.67-99.93% (82.98%) |  | 5.09-99.90% (83.06%)
MSR value | 31.71-163.78 bps (117.97 bps) |  | 23.91-171.64 bps (121.23 bps)
(1) Disclosures related to the fair value measurement of financial instruments deemed immaterial are not included.
Losses on assets and liabilities measured on a nonrecurring basis included in earnings | The following table presents losses on assets measured at fair value on a nonrecurring basis and recorded in earnings:
| Three Months Ended March 31, |  |
(dollars in millions) | 2025 |  | 2024 |  |  |  |
Collateral-dependent loans | ($59) |  |  | ($56) |  |  |  |  |
Fair value of assets and liabilities measured on a nonrecurring basis | The following table presents assets measured at fair value on a nonrecurring basis:
| March 31, 2025 |  | December 31, 2024
(dollars in millions) | Total | Level 1 | Level 2 | Level 3 |  | Total | Level 1 | Level 2 | Level 3
Collateral-dependent loans | $910 |  | $— |  | $910 |  | $— |  |  | $979 |  | $— |  | $979 |  | $— |
Assets and liabilities measured at fair value | The following tables present the estimated fair value for financial instruments not recorded at fair value in the Consolidated Financial Statements. The carrying amounts are recorded in the Consolidated Balance Sheets under the indicated captions:
| March 31, 2025
| Total |  | Level 1 |  | Level 2 |  | Level 3
(dollars in millions) | Carrying Value | Estimated Fair Value |  | Carrying Value | Estimated Fair Value |  | Carrying Value | Estimated Fair Value |  | Carrying Value | Estimated Fair Value
Financial assets: |  |  |  |  |  |  |  |  |  |  |
Debt securities held to maturity | $8,469 |  | $7,515 |  |  | $— |  | $— |  |  | $8,077 |  | $7,129 |  |  | $392 |  | $386 |
Loans held for sale | 1,683 |  | 1,683 |  |  | — |  | — |  |  | — |  | — |  |  | 1,683 |  | 1,683 |
Net loans and leases | 135,621 |  | 134,844 |  |  | — |  | — |  |  | 910 |  | 910 |  |  | 134,711 |  | 133,934 |
Other assets | 711 |  | 711 |  |  | — |  | — |  |  | 689 |  | 689 |  |  | 22 |  | 22 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |
Deposits | 177,576 |  | 177,508 |  |  | — |  | — |  |  | 177,576 |  | 177,508 |  |  | — |  | — |
Long-term borrowed funds | 12,267 |  | 12,222 |  |  | — |  | — |  |  | 12,267 |  | 12,222 |  |  | — |  | — |
| December 31, 2024
| Total |  | Level 1 |  | Level 2 |  | Level 3
(dollars in millions) | Carrying Value | Estimated Fair Value |  | Carrying Value | Estimated Fair Value |  | Carrying Value | Estimated Fair Value |  | Carrying Value | Estimated Fair Value
Financial assets: |  |  |  |  |  |  |  |  |  |  |
Debt securities held to maturity | $8,599 |  | $7,540 |  |  | $— |  | $— |  |  | $8,187 |  | $7,136 |  |  | $412 |  | $404 |
Loans held for sale | 33 |  | 33 |  |  | — |  | — |  |  | — |  | — |  |  | 33 |  | 33 |
Net loans and leases | 137,142 |  | 136,293 |  |  | — |  | — |  |  | 979 |  | 979 |  |  | 136,163 |  | 135,314 |
Other assets | 710 |  | 710 |  |  | — |  | — |  |  | 689 |  | 689 |  |  | 21 |  | 21 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |
Deposits | 174,776 |  | 174,651 |  |  | — |  | — |  |  | 174,776 |  | 174,651 |  |  | — |  | — |
Long-term borrowed funds | 12,401 |  | 12,247 |  |  | — |  | — |  |  | 12,401 |  | 12,247 |  |  | — |  | — |

X
- Definition Tabular disclosure of gains (losses) on assets and liabilities measured at fair value on a nonrecurring basis and recorded in earnings. + References No definition available. + Details
Name: | cfg_FairValueMeasuredOnNonrecurringBasisGainLossIncludedInEarningsTableTextBlock
Namespace Prefix: | cfg_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of information about asset and liability measured at fair value under fair value option. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-30 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-28 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-31 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-32 + Details
Name: | us-gaap_FairValueOptionQuantitativeDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration