<?xml version="1.0" encoding="US-ASCII"?>
<!--XBRL Document Created with Wdesk from Workiva-->
<!-- -->
<link:linkbase xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <link:roleRef roleURI="http://www.Key.com/role/AccumulatedOtherComprehensiveIncome" xlink:href="key-20191231.xsd#AccumulatedOtherComprehensiveIncome" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/AccumulatedOtherComprehensiveIncomeChangesInAociDetails" xlink:href="key-20191231.xsd#AccumulatedOtherComprehensiveIncomeChangesInAociDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/AccumulatedOtherComprehensiveIncomeReclassificationsOutOfAociDetails" xlink:href="key-20191231.xsd#AccumulatedOtherComprehensiveIncomeReclassificationsOutOfAociDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/AccumulatedOtherComprehensiveIncomeTables" xlink:href="key-20191231.xsd#AccumulatedOtherComprehensiveIncomeTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/AcquisitionsDivestitureAndDiscontinuedOperations" xlink:href="key-20191231.xsd#AcquisitionsDivestitureAndDiscontinuedOperations" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/AcquisitionsDivestitureAndDiscontinuedOperationsNarrativeDetails" xlink:href="key-20191231.xsd#AcquisitionsDivestitureAndDiscontinuedOperationsNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/AssetQuality" xlink:href="key-20191231.xsd#AssetQuality" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/AssetQualityAgingAnalysisOfPastDueAndCurrentLoansDetails" xlink:href="key-20191231.xsd#AssetQualityAgingAnalysisOfPastDueAndCurrentLoansDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/AssetQualityBreakdownOfAllowanceForLoanAndLeaseLossesAndCorrespondingLoanBalancesDetails" xlink:href="key-20191231.xsd#AssetQualityBreakdownOfAllowanceForLoanAndLeaseLossesAndCorrespondingLoanBalancesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/AssetQualityBreakdownOfIndividuallyImpairedLoansDetails" xlink:href="key-20191231.xsd#AssetQualityBreakdownOfIndividuallyImpairedLoansDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/AssetQualityBreakdownOfNonperformingTdrsByLoansCategoryDetails" xlink:href="key-20191231.xsd#AssetQualityBreakdownOfNonperformingTdrsByLoansCategoryDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/AssetQualityChangesInAllowanceForLoanAndLeaseLossesByLoanCategoryDetails" xlink:href="key-20191231.xsd#AssetQualityChangesInAllowanceForLoanAndLeaseLossesByLoanCategoryDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/AssetQualityChangesInLiabilityForCreditLossesOnLendingRelatedCommitmentsDetails" xlink:href="key-20191231.xsd#AssetQualityChangesInLiabilityForCreditLossesOnLendingRelatedCommitmentsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/AssetQualityChangesInOutstandingUnpaidPrincipalBalanceCarryingAmountAndAccretableYieldForPciLoansDetails" xlink:href="key-20191231.xsd#AssetQualityChangesInOutstandingUnpaidPrincipalBalanceCarryingAmountAndAccretableYieldForPciLoansDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/AssetQualityFinancingReceivableCreditQualityIndicatorsDetails" xlink:href="key-20191231.xsd#AssetQualityFinancingReceivableCreditQualityIndicatorsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/AssetQualityNarrativeDetails" xlink:href="key-20191231.xsd#AssetQualityNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/AssetQualityPostModificationOutstandingRecordedInvestmentByConcessionTypeForOurCommercialAccruingAndNonaccruingTdrsDetails" xlink:href="key-20191231.xsd#AssetQualityPostModificationOutstandingRecordedInvestmentByConcessionTypeForOurCommercialAccruingAndNonaccruingTdrsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/AssetQualitySummaryOfPostModificationOutstandingRecordedInvestmentTdrsDetails" xlink:href="key-20191231.xsd#AssetQualitySummaryOfPostModificationOutstandingRecordedInvestmentTdrsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/AssetQualityTables" xlink:href="key-20191231.xsd#AssetQualityTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/BusinessSegmentReporting" xlink:href="key-20191231.xsd#BusinessSegmentReporting" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/BusinessSegmentReportingFinancialInformationOfBusinessGroupsDetails" xlink:href="key-20191231.xsd#BusinessSegmentReportingFinancialInformationOfBusinessGroupsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/BusinessSegmentReportingNarrativeDetails" xlink:href="key-20191231.xsd#BusinessSegmentReportingNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/BusinessSegmentReportingTables" xlink:href="key-20191231.xsd#BusinessSegmentReportingTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/CommitmentsContingentLiabilitiesAndGuarantees" xlink:href="key-20191231.xsd#CommitmentsContingentLiabilitiesAndGuarantees" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/CommitmentsContingentLiabilitiesAndGuaranteesCommitmentsToExtendCreditOrFundingDetails" xlink:href="key-20191231.xsd#CommitmentsContingentLiabilitiesAndGuaranteesCommitmentsToExtendCreditOrFundingDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/CommitmentsContingentLiabilitiesAndGuaranteesGuaranteesDetails" xlink:href="key-20191231.xsd#CommitmentsContingentLiabilitiesAndGuaranteesGuaranteesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/CommitmentsContingentLiabilitiesAndGuaranteesNarrativeDetails" xlink:href="key-20191231.xsd#CommitmentsContingentLiabilitiesAndGuaranteesNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/CommitmentsContingentLiabilitiesAndGuaranteesTables" xlink:href="key-20191231.xsd#CommitmentsContingentLiabilitiesAndGuaranteesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/CondensedFinancialInformationOfParentCompany" xlink:href="key-20191231.xsd#CondensedFinancialInformationOfParentCompany" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/CondensedFinancialInformationOfParentCompanyCondensedBalanceSheetsDetails" xlink:href="key-20191231.xsd#CondensedFinancialInformationOfParentCompanyCondensedBalanceSheetsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/CondensedFinancialInformationOfParentCompanyCondensedStatementsOfCashFlowsDetails" xlink:href="key-20191231.xsd#CondensedFinancialInformationOfParentCompanyCondensedStatementsOfCashFlowsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/CondensedFinancialInformationOfParentCompanyCondensedStatementsOfIncomeDetails" xlink:href="key-20191231.xsd#CondensedFinancialInformationOfParentCompanyCondensedStatementsOfIncomeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/CondensedFinancialInformationOfParentCompanyNarrativeDetails" xlink:href="key-20191231.xsd#CondensedFinancialInformationOfParentCompanyNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/CondensedFinancialInformationOfParentCompanyTables" xlink:href="key-20191231.xsd#CondensedFinancialInformationOfParentCompanyTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/ConsolidatedBalanceSheets" xlink:href="key-20191231.xsd#ConsolidatedBalanceSheets" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:href="key-20191231.xsd#ConsolidatedBalanceSheetsParenthetical" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/ConsolidatedStatementsOfCashFlows" xlink:href="key-20191231.xsd#ConsolidatedStatementsOfCashFlows" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/ConsolidatedStatementsOfChangesInEquity" xlink:href="key-20191231.xsd#ConsolidatedStatementsOfChangesInEquity" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/ConsolidatedStatementsOfChangesInEquityParenthetical" xlink:href="key-20191231.xsd#ConsolidatedStatementsOfChangesInEquityParenthetical" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/ConsolidatedStatementsOfComprehensiveIncome" xlink:href="key-20191231.xsd#ConsolidatedStatementsOfComprehensiveIncome" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/ConsolidatedStatementsOfComprehensiveIncomeParenthetical" xlink:href="key-20191231.xsd#ConsolidatedStatementsOfComprehensiveIncomeParenthetical" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/ConsolidatedStatementsOfIncome" xlink:href="key-20191231.xsd#ConsolidatedStatementsOfIncome" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/ConsolidatedStatementsOfIncomeParenthetical" xlink:href="key-20191231.xsd#ConsolidatedStatementsOfIncomeParenthetical" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/CoverPage" xlink:href="key-20191231.xsd#CoverPage" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/DerivativesAndHedgingActivities" xlink:href="key-20191231.xsd#DerivativesAndHedgingActivities" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/DerivativesAndHedgingActivitiesAdditionalInformationDetails" xlink:href="key-20191231.xsd#DerivativesAndHedgingActivitiesAdditionalInformationDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/DerivativesAndHedgingActivitiesCreditDerivativesSoldAndHeldDetails" xlink:href="key-20191231.xsd#DerivativesAndHedgingActivitiesCreditDerivativesSoldAndHeldDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/DerivativesAndHedgingActivitiesCreditRiskContingentFeatureDetails" xlink:href="key-20191231.xsd#DerivativesAndHedgingActivitiesCreditRiskContingentFeatureDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/DerivativesAndHedgingActivitiesCumulativeBasisAdjustmentsOnFairValueHedgesDetails" xlink:href="key-20191231.xsd#DerivativesAndHedgingActivitiesCumulativeBasisAdjustmentsOnFairValueHedgesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/DerivativesAndHedgingActivitiesDerivativeInstrumentCashFlowHedgeEarningRecognizedByIncomeStatementLocationDetails" xlink:href="key-20191231.xsd#DerivativesAndHedgingActivitiesDerivativeInstrumentCashFlowHedgeEarningRecognizedByIncomeStatementLocationDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/DerivativesAndHedgingActivitiesEffectOfFairValueAndCashFlowHedgesOnIncomeDetails" xlink:href="key-20191231.xsd#DerivativesAndHedgingActivitiesEffectOfFairValueAndCashFlowHedgesOnIncomeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/DerivativesAndHedgingActivitiesFairValueOfDerivativeAssetsByTypeDetails" xlink:href="key-20191231.xsd#DerivativesAndHedgingActivitiesFairValueOfDerivativeAssetsByTypeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/DerivativesAndHedgingActivitiesFairValuesVolumeOfActivityAndGainLossInformationRelatedToDerivativeInstrumentsDetails" xlink:href="key-20191231.xsd#DerivativesAndHedgingActivitiesFairValuesVolumeOfActivityAndGainLossInformationRelatedToDerivativeInstrumentsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/DerivativesAndHedgingActivitiesPreTaxNetGainsLossesOnDerivativesNotDesignatedAsHedgingInstrumentsDetails" xlink:href="key-20191231.xsd#DerivativesAndHedgingActivitiesPreTaxNetGainsLossesOnDerivativesNotDesignatedAsHedgingInstrumentsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/DerivativesAndHedgingActivitiesTables" xlink:href="key-20191231.xsd#DerivativesAndHedgingActivitiesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EarningsPerCommonShare" xlink:href="key-20191231.xsd#EarningsPerCommonShare" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EarningsPerCommonShareBasicAndDilutedEarningsPerCommonShareDetails" xlink:href="key-20191231.xsd#EarningsPerCommonShareBasicAndDilutedEarningsPerCommonShareDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EarningsPerCommonShareTables" xlink:href="key-20191231.xsd#EarningsPerCommonShareTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefits" xlink:href="key-20191231.xsd#EmployeeBenefits" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsAssetTargetAllocationsPrescribedByPensionFundsInvestmentPoliciesDetails" xlink:href="key-20191231.xsd#EmployeeBenefitsAssetTargetAllocationsPrescribedByPensionFundsInvestmentPoliciesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsAssetTargetAllocationsPrescribedByTrustsInvestmentPoliciesDetails" xlink:href="key-20191231.xsd#EmployeeBenefitsAssetTargetAllocationsPrescribedByTrustsInvestmentPoliciesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsChangeInFvaOtherPostRetirementBenefitPlanAssetsDetails" xlink:href="key-20191231.xsd#EmployeeBenefitsChangeInFvaOtherPostRetirementBenefitPlanAssetsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsChangesInApboDetails" xlink:href="key-20191231.xsd#EmployeeBenefitsChangesInApboDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsChangesInFvaDetails" xlink:href="key-20191231.xsd#EmployeeBenefitsChangesInFvaDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsChangesInPboRelatedToPensionPlansDetails" xlink:href="key-20191231.xsd#EmployeeBenefitsChangesInPboRelatedToPensionPlansDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsFairValuesOfPensionPlanAssetsByAssetCategoryDetails" xlink:href="key-20191231.xsd#EmployeeBenefitsFairValuesOfPensionPlanAssetsByAssetCategoryDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsFairValuesOfPostretirementPlanAssetsByAssetCategoryDetails" xlink:href="key-20191231.xsd#EmployeeBenefitsFairValuesOfPostretirementPlanAssetsByAssetCategoryDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsFundedStatusOfPensionPlansRecognizedInBalanceSheetsDetails" xlink:href="key-20191231.xsd#EmployeeBenefitsFundedStatusOfPensionPlansRecognizedInBalanceSheetsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsFundedStatusOfPostretirementPlansRecognizedInBalanceSheetsDetails" xlink:href="key-20191231.xsd#EmployeeBenefitsFundedStatusOfPostretirementPlansRecognizedInBalanceSheetsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsNarrativeDetails" xlink:href="key-20191231.xsd#EmployeeBenefitsNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsNetPensionCostAndAmountRecognizedInOciForAllFundedAndUnfundedPlansDetails" xlink:href="key-20191231.xsd#EmployeeBenefitsNetPensionCostAndAmountRecognizedInOciForAllFundedAndUnfundedPlansDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsNetPostretirementBenefitCostAndAmountRecognizedInOciForAllFundedAndUnfundedPlansDetails" xlink:href="key-20191231.xsd#EmployeeBenefitsNetPostretirementBenefitCostAndAmountRecognizedInOciForAllFundedAndUnfundedPlansDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsPlansAboInExcessOfPlanAssetsDetails" xlink:href="key-20191231.xsd#EmployeeBenefitsPlansAboInExcessOfPlanAssetsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsPreTaxAociNotYetRecognizedAsNetPostretirementBenefitCostDetails" xlink:href="key-20191231.xsd#EmployeeBenefitsPreTaxAociNotYetRecognizedAsNetPostretirementBenefitCostDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsTables" xlink:href="key-20191231.xsd#EmployeeBenefitsTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsWeightedAverageRatesToDetermineActuarialPresentValueOfBenefitObligationsDetails" xlink:href="key-20191231.xsd#EmployeeBenefitsWeightedAverageRatesToDetermineActuarialPresentValueOfBenefitObligationsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsWeightedAverageRatesToDetermineNetPensionCostDetails" xlink:href="key-20191231.xsd#EmployeeBenefitsWeightedAverageRatesToDetermineNetPensionCostDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/EmployeeBenefitsWeightedAverageRatesToDetermineNetPostretirementBenefitCostDetails" xlink:href="key-20191231.xsd#EmployeeBenefitsWeightedAverageRatesToDetermineNetPostretirementBenefitCostDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/FairValueMeasurements" xlink:href="key-20191231.xsd#FairValueMeasurements" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/FairValueMeasurementsAdditionalInformationDetails" xlink:href="key-20191231.xsd#FairValueMeasurementsAdditionalInformationDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/FairValueMeasurementsAssetsAndLiabilitiesMeasuredAtFairValueOnNonrecurringBasisDetails" xlink:href="key-20191231.xsd#FairValueMeasurementsAssetsAndLiabilitiesMeasuredAtFairValueOnNonrecurringBasisDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/FairValueMeasurementsChangeInFairValuesOfLevel3FinancialInstrumentsDetails" xlink:href="key-20191231.xsd#FairValueMeasurementsChangeInFairValuesOfLevel3FinancialInstrumentsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/FairValueMeasurementsFairValueDisclosuresOfFinancialInstrumentsDetails" xlink:href="key-20191231.xsd#FairValueMeasurementsFairValueDisclosuresOfFinancialInstrumentsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/FairValueMeasurementsFairValueOfAssetsAndLiabilitiesMeasuredOnRecurringBasisDetails" xlink:href="key-20191231.xsd#FairValueMeasurementsFairValueOfAssetsAndLiabilitiesMeasuredOnRecurringBasisDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/FairValueMeasurementsFairValueOfDirectAndIndirectInvestmentsRelatedUnfundedCommitmentsAndFinancialSupportProvidedDetails" xlink:href="key-20191231.xsd#FairValueMeasurementsFairValueOfDirectAndIndirectInvestmentsRelatedUnfundedCommitmentsAndFinancialSupportProvidedDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/FairValueMeasurementsQuantitativeInformationAboutLevel3FairValueMeasurementsDetails" xlink:href="key-20191231.xsd#FairValueMeasurementsQuantitativeInformationAboutLevel3FairValueMeasurementsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/FairValueMeasurementsTables" xlink:href="key-20191231.xsd#FairValueMeasurementsTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/GoodwillAndOtherIntangibleAssets" xlink:href="key-20191231.xsd#GoodwillAndOtherIntangibleAssets" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/GoodwillAndOtherIntangibleAssetsChangesInCarryingAmountOfGoodwillDetails" xlink:href="key-20191231.xsd#GoodwillAndOtherIntangibleAssetsChangesInCarryingAmountOfGoodwillDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/GoodwillAndOtherIntangibleAssetsFutureAmortizationExpenseOfFiniteLivedIntangibleAssetsDetails" xlink:href="key-20191231.xsd#GoodwillAndOtherIntangibleAssetsFutureAmortizationExpenseOfFiniteLivedIntangibleAssetsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/GoodwillAndOtherIntangibleAssetsGrossCarryingAmountAndAccumulatedAmortizationOfIntangibleAssetsDetails" xlink:href="key-20191231.xsd#GoodwillAndOtherIntangibleAssetsGrossCarryingAmountAndAccumulatedAmortizationOfIntangibleAssetsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/GoodwillAndOtherIntangibleAssetsNarrativeDetails" xlink:href="key-20191231.xsd#GoodwillAndOtherIntangibleAssetsNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/GoodwillAndOtherIntangibleAssetsTables" xlink:href="key-20191231.xsd#GoodwillAndOtherIntangibleAssetsTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/IncomeTaxes" xlink:href="key-20191231.xsd#IncomeTaxes" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/IncomeTaxesChangeInLiabilityForUnrecognizedTaxBenefitsDetails" xlink:href="key-20191231.xsd#IncomeTaxesChangeInLiabilityForUnrecognizedTaxBenefitsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/IncomeTaxesIncomeTaxesIncludedInIncomeStatementDetails" xlink:href="key-20191231.xsd#IncomeTaxesIncomeTaxesIncludedInIncomeStatementDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/IncomeTaxesNarrativeDetails" xlink:href="key-20191231.xsd#IncomeTaxesNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/IncomeTaxesSignificantComponentsOfDeferredTaxAssetsAndLiabilitiesIncludedInAccruedIncomeAndOtherAssetsAndAccruedExpenseAndOtherLiabilitiesDetails" xlink:href="key-20191231.xsd#IncomeTaxesSignificantComponentsOfDeferredTaxAssetsAndLiabilitiesIncludedInAccruedIncomeAndOtherAssetsAndAccruedExpenseAndOtherLiabilitiesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/IncomeTaxesTables" xlink:href="key-20191231.xsd#IncomeTaxesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/IncomeTaxesTotalIncomeTaxExpenseBenefitAndResultingEffectiveTaxRateDetails" xlink:href="key-20191231.xsd#IncomeTaxesTotalIncomeTaxExpenseBenefitAndResultingEffectiveTaxRateDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/Leases" xlink:href="key-20191231.xsd#Leases" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LeasesComponentsOfEquipmentLeasingIncomeDetails" xlink:href="key-20191231.xsd#LeasesComponentsOfEquipmentLeasingIncomeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LeasesComponentsOfLeaseExpenseAndIncomeDetails" xlink:href="key-20191231.xsd#LeasesComponentsOfLeaseExpenseAndIncomeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LeasesCompositionOfNetInvestmentInSalesTypeAndDirectFinancingLeasesDetails" xlink:href="key-20191231.xsd#LeasesCompositionOfNetInvestmentInSalesTypeAndDirectFinancingLeasesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LeasesMinimumFutureLeasePaymentsToBeReceivedForOperatingLeasesDetails" xlink:href="key-20191231.xsd#LeasesMinimumFutureLeasePaymentsToBeReceivedForOperatingLeasesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LeasesMinimumFutureLeasePaymentsToBeReceivedForSalesTypeAndDirectFinancingLeasesDetails" xlink:href="key-20191231.xsd#LeasesMinimumFutureLeasePaymentsToBeReceivedForSalesTypeAndDirectFinancingLeasesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LeasesNarrativeDetails" xlink:href="key-20191231.xsd#LeasesNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LeasesSummaryOfAdditionalBalanceSheetInformationDetails" xlink:href="key-20191231.xsd#LeasesSummaryOfAdditionalBalanceSheetInformationDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LeasesSummaryOfCashFlowsRelatedToLeasesDetails" xlink:href="key-20191231.xsd#LeasesSummaryOfCashFlowsRelatedToLeasesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LeasesSummaryOfInformationPertainingToLeaseTermAndWeightedAverageDiscountRateDetails" xlink:href="key-20191231.xsd#LeasesSummaryOfInformationPertainingToLeaseTermAndWeightedAverageDiscountRateDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LeasesSummaryOfMaturitiesOfLeaseLiabilitiesDetails" xlink:href="key-20191231.xsd#LeasesSummaryOfMaturitiesOfLeaseLiabilitiesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LeasesSummaryOfMaturitiesOfLeaseLiabilitiesDetailsCalc2" xlink:href="key-20191231.xsd#LeasesSummaryOfMaturitiesOfLeaseLiabilitiesDetailsCalc2" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LeasesSummaryOfMaturitiesOfLeaseLiabilitiesDetailsCalc3" xlink:href="key-20191231.xsd#LeasesSummaryOfMaturitiesOfLeaseLiabilitiesDetailsCalc3" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LeasesTables" xlink:href="key-20191231.xsd#LeasesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LoanPortfolio" xlink:href="key-20191231.xsd#LoanPortfolio" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LoanPortfolioLoansByCategoryDetails" xlink:href="key-20191231.xsd#LoanPortfolioLoansByCategoryDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LoanPortfolioTables" xlink:href="key-20191231.xsd#LoanPortfolioTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LongTermDebt" xlink:href="key-20191231.xsd#LongTermDebt" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LongTermDebtComponentsOfLongTermDebtDetails" xlink:href="key-20191231.xsd#LongTermDebtComponentsOfLongTermDebtDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LongTermDebtNarrativeDetails" xlink:href="key-20191231.xsd#LongTermDebtNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LongTermDebtScheduledPrincipalPaymentsOnLongTermDebtDetails" xlink:href="key-20191231.xsd#LongTermDebtScheduledPrincipalPaymentsOnLongTermDebtDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/LongTermDebtTables" xlink:href="key-20191231.xsd#LongTermDebtTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/MortgageServicingAssets" xlink:href="key-20191231.xsd#MortgageServicingAssets" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/MortgageServicingAssetsChangesInCarryingAmountOfMortgageServicingAssetsDetails" xlink:href="key-20191231.xsd#MortgageServicingAssetsChangesInCarryingAmountOfMortgageServicingAssetsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/MortgageServicingAssetsNarrativeDetails" xlink:href="key-20191231.xsd#MortgageServicingAssetsNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/MortgageServicingAssetsScheduleOfRangeAndWeightedAverageOfSignificantUnobservableInputsDetails" xlink:href="key-20191231.xsd#MortgageServicingAssetsScheduleOfRangeAndWeightedAverageOfSignificantUnobservableInputsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/MortgageServicingAssetsTables" xlink:href="key-20191231.xsd#MortgageServicingAssetsTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/PremisesAndEquipment" xlink:href="key-20191231.xsd#PremisesAndEquipment" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/PremisesAndEquipmentNarrativeDetails" xlink:href="key-20191231.xsd#PremisesAndEquipmentNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/PremisesAndEquipmentScheduleOfPremisesAndEquipmentDetails" xlink:href="key-20191231.xsd#PremisesAndEquipmentScheduleOfPremisesAndEquipmentDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/PremisesAndEquipmentTables" xlink:href="key-20191231.xsd#PremisesAndEquipmentTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/RestrictionsOnCashDividendsAndLendingActivities" xlink:href="key-20191231.xsd#RestrictionsOnCashDividendsAndLendingActivities" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/RestrictionsOnCashDividendsAndLendingActivitiesNarrativeDetails" xlink:href="key-20191231.xsd#RestrictionsOnCashDividendsAndLendingActivitiesNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/RevenueFromContractsWithCustomers" xlink:href="key-20191231.xsd#RevenueFromContractsWithCustomers" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/RevenueFromContractsWithCustomersDetails" xlink:href="key-20191231.xsd#RevenueFromContractsWithCustomersDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/RevenueFromContractsWithCustomersTables" xlink:href="key-20191231.xsd#RevenueFromContractsWithCustomersTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/Securities" xlink:href="key-20191231.xsd#Securities" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/SecuritiesAdditionalInformationDetails" xlink:href="key-20191231.xsd#SecuritiesAdditionalInformationDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/SecuritiesDetailsOfSecuritiesDetails" xlink:href="key-20191231.xsd#SecuritiesDetailsOfSecuritiesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/SecuritiesFinancingActivities" xlink:href="key-20191231.xsd#SecuritiesFinancingActivities" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/SecuritiesFinancingActivitiesSummarizedSecuritiesFinancingAgreementsDetails" xlink:href="key-20191231.xsd#SecuritiesFinancingActivitiesSummarizedSecuritiesFinancingAgreementsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/SecuritiesFinancingActivitiesTables" xlink:href="key-20191231.xsd#SecuritiesFinancingActivitiesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/SecuritiesRealizedGainsAndLossesOnSecuritiesDetails" xlink:href="key-20191231.xsd#SecuritiesRealizedGainsAndLossesOnSecuritiesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/SecuritiesSecuritiesByMaturityDetails" xlink:href="key-20191231.xsd#SecuritiesSecuritiesByMaturityDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/SecuritiesSummaryOfSecuritiesInUnrealizedLossPositionDetails" xlink:href="key-20191231.xsd#SecuritiesSummaryOfSecuritiesInUnrealizedLossPositionDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/SecuritiesTables" xlink:href="key-20191231.xsd#SecuritiesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/ShareholdersEquity" xlink:href="key-20191231.xsd#ShareholdersEquity" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/ShareholdersEquityComprehensiveCapitalPlanDetails" xlink:href="key-20191231.xsd#ShareholdersEquityComprehensiveCapitalPlanDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/ShareholdersEquityKeysAndKeybanksActualCapitalAmountsAndRatiosMinimumCapitalAmountsAndRatiosDetails" xlink:href="key-20191231.xsd#ShareholdersEquityKeysAndKeybanksActualCapitalAmountsAndRatiosMinimumCapitalAmountsAndRatiosDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/ShareholdersEquityScheduleOfPreferredStockDetails" xlink:href="key-20191231.xsd#ShareholdersEquityScheduleOfPreferredStockDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/ShareholdersEquityTables" xlink:href="key-20191231.xsd#ShareholdersEquityTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/ShortTermBorrowings" xlink:href="key-20191231.xsd#ShortTermBorrowings" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/ShortTermBorrowingsComponentsOfShortTermBorrowingsDetails" xlink:href="key-20191231.xsd#ShortTermBorrowingsComponentsOfShortTermBorrowingsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/ShortTermBorrowingsNarrativeDetails" xlink:href="key-20191231.xsd#ShortTermBorrowingsNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/ShortTermBorrowingsTables" xlink:href="key-20191231.xsd#ShortTermBorrowingsTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/StockBasedCompensation" xlink:href="key-20191231.xsd#StockBasedCompensation" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/StockBasedCompensationActivityAndPricingInformationForNonvestedSharesGrantedUnderDeferredCompensationPlansAndOtherRestrictedStockAwardsDetails" xlink:href="key-20191231.xsd#StockBasedCompensationActivityAndPricingInformationForNonvestedSharesGrantedUnderDeferredCompensationPlansAndOtherRestrictedStockAwardsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/StockBasedCompensationActivityAndPricingInformationForNonvestedSharesInLongTermIncentiveCompensationProgramDetails" xlink:href="key-20191231.xsd#StockBasedCompensationActivityAndPricingInformationForNonvestedSharesInLongTermIncentiveCompensationProgramDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/StockBasedCompensationActivityPricingAndOtherInformationForStockOptionsDetails" xlink:href="key-20191231.xsd#StockBasedCompensationActivityPricingAndOtherInformationForStockOptionsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/StockBasedCompensationAssumptionsUsedInOptionsPricingModelDetails" xlink:href="key-20191231.xsd#StockBasedCompensationAssumptionsUsedInOptionsPricingModelDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/StockBasedCompensationNarrativeDetails" xlink:href="key-20191231.xsd#StockBasedCompensationNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/StockBasedCompensationTables" xlink:href="key-20191231.xsd#StockBasedCompensationTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/SummaryOfSignificantAccountingPolicies" xlink:href="key-20191231.xsd#SummaryOfSignificantAccountingPolicies" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails" xlink:href="key-20191231.xsd#SummaryOfSignificantAccountingPoliciesNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/SummaryOfSignificantAccountingPoliciesPolicies" xlink:href="key-20191231.xsd#SummaryOfSignificantAccountingPoliciesPolicies" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/SummaryOfSignificantAccountingPoliciesTables" xlink:href="key-20191231.xsd#SummaryOfSignificantAccountingPoliciesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/TrustPreferredSecuritiesIssuedByUnconsolidatedSubsidiaries" xlink:href="key-20191231.xsd#TrustPreferredSecuritiesIssuedByUnconsolidatedSubsidiaries" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/TrustPreferredSecuritiesIssuedByUnconsolidatedSubsidiariesSummaryOfTrustPreferredSecuritiesCommonStockAndRelatedDebenturesDetails" xlink:href="key-20191231.xsd#TrustPreferredSecuritiesIssuedByUnconsolidatedSubsidiariesSummaryOfTrustPreferredSecuritiesCommonStockAndRelatedDebenturesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/TrustPreferredSecuritiesIssuedByUnconsolidatedSubsidiariesTables" xlink:href="key-20191231.xsd#TrustPreferredSecuritiesIssuedByUnconsolidatedSubsidiariesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/VariableInterestEntities" xlink:href="key-20191231.xsd#VariableInterestEntities" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/VariableInterestEntitiesNarrativeDetails" xlink:href="key-20191231.xsd#VariableInterestEntitiesNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/VariableInterestEntitiesTables" xlink:href="key-20191231.xsd#VariableInterestEntitiesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.Key.com/role/VariableInterestEntitiesVariableInterestEntitiesInformationDetails" xlink:href="key-20191231.xsd#VariableInterestEntitiesVariableInterestEntitiesInformationDetails" xlink:type="simple" />
  <link:calculationLink xlink:role="http://www.Key.com/role/AccumulatedOtherComprehensiveIncome" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/AccumulatedOtherComprehensiveIncomeChangesInAociDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_1ed26a82-dd4b-490f-d61a-b04c5d44793e" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax_78f9a384-d8cc-c622-a09d-cab78e8426f5" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_1ed26a82-dd4b-490f-d61a-b04c5d44793e" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax_78f9a384-d8cc-c622-a09d-cab78e8426f5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax" xlink:label="loc_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax_33fd7cc6-9d16-3ba3-ad10-286b2340fef5" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_1ed26a82-dd4b-490f-d61a-b04c5d44793e" xlink:to="loc_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax_33fd7cc6-9d16-3ba3-ad10-286b2340fef5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_TaxCutsAndJobsActOf2017ReclassificationFromAociToRetainedEarningsTaxEffect" xlink:label="loc_us-gaap_TaxCutsAndJobsActOf2017ReclassificationFromAociToRetainedEarningsTaxEffect_647bcca2-0d75-3472-1297-39c72be82ba5" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_1ed26a82-dd4b-490f-d61a-b04c5d44793e" xlink:to="loc_us-gaap_TaxCutsAndJobsActOf2017ReclassificationFromAociToRetainedEarningsTaxEffect_647bcca2-0d75-3472-1297-39c72be82ba5" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/AccumulatedOtherComprehensiveIncomeReclassificationsOutOfAociDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/AccumulatedOtherComprehensiveIncomeTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/AcquisitionsDivestitureAndDiscontinuedOperations" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/AcquisitionsDivestitureAndDiscontinuedOperationsNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/AssetQuality" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/AssetQualityAgingAnalysisOfPastDueAndCurrentLoansDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome" xlink:label="loc_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_cc5c1006-c22a-97e2-a6fb-a77bbc2c7a79" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestmentCurrent" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentCurrent_06586565-6cb8-0c2d-2918-46c33c36a989" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_cc5c1006-c22a-97e2-a6fb-a77bbc2c7a79" xlink:to="loc_us-gaap_FinancingReceivableRecordedInvestmentCurrent_06586565-6cb8-0c2d-2918-46c33c36a989" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestmentPastDue" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentPastDue_237f5632-95a9-3802-43df-2ff16ba46a11" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_cc5c1006-c22a-97e2-a6fb-a77bbc2c7a79" xlink:to="loc_us-gaap_FinancingReceivableRecordedInvestmentPastDue_237f5632-95a9-3802-43df-2ff16ba46a11" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_FinancingReceivableRecordedInvestmentPurchasedCreditImpairedLoans" xlink:label="loc_key_FinancingReceivableRecordedInvestmentPurchasedCreditImpairedLoans_c76b4942-6909-cba9-4c48-fc252d7618f3" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_cc5c1006-c22a-97e2-a6fb-a77bbc2c7a79" xlink:to="loc_key_FinancingReceivableRecordedInvestmentPurchasedCreditImpairedLoans_c76b4942-6909-cba9-4c48-fc252d7618f3" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/AssetQualityBreakdownOfAllowanceForLoanAndLeaseLossesAndCorrespondingLoanBalancesDetails" xlink:type="extended">
    <link:loc xlink:href="key-20191231.xsd#key_LoansAndLeasesReceivableIncludingLoansAtFairValueNetOfDeferredIncome" xlink:label="loc_key_LoansAndLeasesReceivableIncludingLoansAtFairValueNetOfDeferredIncome_c384dd98-cde9-f9c4-d7b4-fc252bf9f882" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment" xlink:label="loc_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment_c00c2fd4-3786-d090-a83a-648d5b7163d1" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LoansAndLeasesReceivableIncludingLoansAtFairValueNetOfDeferredIncome_c384dd98-cde9-f9c4-d7b4-fc252bf9f882" xlink:to="loc_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment_c00c2fd4-3786-d090-a83a-648d5b7163d1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment" xlink:label="loc_us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment_24223fe2-be24-eaf2-3dd6-5556dbeb1405" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LoansAndLeasesReceivableIncludingLoansAtFairValueNetOfDeferredIncome_c384dd98-cde9-f9c4-d7b4-fc252bf9f882" xlink:to="loc_us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment_24223fe2-be24-eaf2-3dd6-5556dbeb1405" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_PurchasedCreditImpairedLoansOutstandingPrincipalBalance" xlink:label="loc_key_PurchasedCreditImpairedLoansOutstandingPrincipalBalance_633223a5-db3d-a9fd-4b25-fc252d6a6e7f" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LoansAndLeasesReceivableIncludingLoansAtFairValueNetOfDeferredIncome_c384dd98-cde9-f9c4-d7b4-fc252bf9f882" xlink:to="loc_key_PurchasedCreditImpairedLoansOutstandingPrincipalBalance_633223a5-db3d-a9fd-4b25-fc252d6a6e7f" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_LoansAllIncludingDiscontinuedOperations" xlink:label="loc_key_LoansAllIncludingDiscontinuedOperations_a4f23443-09d0-31b1-1d02-fc252e1017f5" xlink:type="locator" />
    <link:loc xlink:href="key-20191231.xsd#key_FinancingReceivableIndividuallyEvaluatedForImpairmentAllIncludingDiscontinuedOperations" xlink:label="loc_key_FinancingReceivableIndividuallyEvaluatedForImpairmentAllIncludingDiscontinuedOperations_fa30b308-cc1a-e11c-a442-fc252f67214b" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LoansAllIncludingDiscontinuedOperations_a4f23443-09d0-31b1-1d02-fc252e1017f5" xlink:to="loc_key_FinancingReceivableIndividuallyEvaluatedForImpairmentAllIncludingDiscontinuedOperations_fa30b308-cc1a-e11c-a442-fc252f67214b" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_FinancingReceivableCollectivelyEvaluatedForImpairmentAllIncludingDiscontinuedOperations" xlink:label="loc_key_FinancingReceivableCollectivelyEvaluatedForImpairmentAllIncludingDiscontinuedOperations_42edd775-b382-0579-4462-fc252fb934da" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LoansAllIncludingDiscontinuedOperations_a4f23443-09d0-31b1-1d02-fc252e1017f5" xlink:to="loc_key_FinancingReceivableCollectivelyEvaluatedForImpairmentAllIncludingDiscontinuedOperations_42edd775-b382-0579-4462-fc252fb934da" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_PurchasedCreditImpairedLoansOutstandingIncludingDiscontinuedOperations" xlink:label="loc_key_PurchasedCreditImpairedLoansOutstandingIncludingDiscontinuedOperations_470dc969-548b-ff9a-0ec3-fc252be20a39" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LoansAllIncludingDiscontinuedOperations_a4f23443-09d0-31b1-1d02-fc252e1017f5" xlink:to="loc_key_PurchasedCreditImpairedLoansOutstandingIncludingDiscontinuedOperations_470dc969-548b-ff9a-0ec3-fc252be20a39" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/AssetQualityBreakdownOfIndividuallyImpairedLoansDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance" xlink:label="loc_us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance_918f85eb-fcda-7052-aaa7-271fcac8784a" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance" xlink:label="loc_us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance_40bf0deb-7813-6dd9-a7db-77b814d00e73" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance_918f85eb-fcda-7052-aaa7-271fcac8784a" xlink:to="loc_us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance_40bf0deb-7813-6dd9-a7db-77b814d00e73" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance" xlink:label="loc_us-gaap_ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance_83506a7e-e21b-06f4-7380-d7c83798576e" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance_918f85eb-fcda-7052-aaa7-271fcac8784a" xlink:to="loc_us-gaap_ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance_83506a7e-e21b-06f4-7380-d7c83798576e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ImpairedFinancingReceivableRecordedInvestment" xlink:label="loc_us-gaap_ImpairedFinancingReceivableRecordedInvestment_fdad77ca-28ce-252d-98a8-33a502e9b719" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment" xlink:label="loc_us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment_29b30077-67ac-dedd-5ca9-f881a29f3118" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ImpairedFinancingReceivableRecordedInvestment_fdad77ca-28ce-252d-98a8-33a502e9b719" xlink:to="loc_us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment_29b30077-67ac-dedd-5ca9-f881a29f3118" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment" xlink:label="loc_us-gaap_ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment_355294e2-98bf-73c6-5f01-e345d65d2410" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ImpairedFinancingReceivableRecordedInvestment_fdad77ca-28ce-252d-98a8-33a502e9b719" xlink:to="loc_us-gaap_ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment_355294e2-98bf-73c6-5f01-e345d65d2410" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/AssetQualityBreakdownOfNonperformingTdrsByLoansCategoryDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/AssetQualityChangesInAllowanceForLoanAndLeaseLossesByLoanCategoryDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/AssetQualityChangesInLiabilityForCreditLossesOnLendingRelatedCommitmentsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/AssetQualityChangesInOutstandingUnpaidPrincipalBalanceCarryingAmountAndAccretableYieldForPciLoansDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/AssetQualityFinancingReceivableCreditQualityIndicatorsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/AssetQualityNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/AssetQualityPostModificationOutstandingRecordedInvestmentByConcessionTypeForOurCommercialAccruingAndNonaccruingTdrsDetails" xlink:type="extended">
    <link:loc xlink:href="key-20191231.xsd#key_FinancingReceivableModificationsConcessions" xlink:label="loc_key_FinancingReceivableModificationsConcessions_c8321123-0650-0e28-13ec-fc252c0c83a9" xlink:type="locator" />
    <link:loc xlink:href="key-20191231.xsd#key_FinancingReceivableModificationsConcessionsExtensionOfMaturityDate" xlink:label="loc_key_FinancingReceivableModificationsConcessionsExtensionOfMaturityDate_d2110db0-e443-2374-a276-fc252f08098f" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_FinancingReceivableModificationsConcessions_c8321123-0650-0e28-13ec-fc252c0c83a9" xlink:to="loc_key_FinancingReceivableModificationsConcessionsExtensionOfMaturityDate_d2110db0-e443-2374-a276-fc252f08098f" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_FinancingReceivableModificationsConcessionsPaymentForCovenantModification" xlink:label="loc_key_FinancingReceivableModificationsConcessionsPaymentForCovenantModification_87b09588-5a57-f9bd-1bbf-fc253051b17b" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_FinancingReceivableModificationsConcessions_c8321123-0650-0e28-13ec-fc252c0c83a9" xlink:to="loc_key_FinancingReceivableModificationsConcessionsPaymentForCovenantModification_87b09588-5a57-f9bd-1bbf-fc253051b17b" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_FinancingReceivableModificationsConcessionsBankruptcyPlanModification" xlink:label="loc_key_FinancingReceivableModificationsConcessionsBankruptcyPlanModification_a5eb7539-70cd-2aa4-231d-fc25313d2434" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_FinancingReceivableModificationsConcessions_c8321123-0650-0e28-13ec-fc252c0c83a9" xlink:to="loc_key_FinancingReceivableModificationsConcessionsBankruptcyPlanModification_a5eb7539-70cd-2aa4-231d-fc25313d2434" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_FinancingReceivableModificationsConcessionsIncreaseInNewCommitmentOrMoney" xlink:label="loc_key_FinancingReceivableModificationsConcessionsIncreaseInNewCommitmentOrMoney_2EAEA621C06EE5B805FC00E6302D492C" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_FinancingReceivableModificationsConcessions_c8321123-0650-0e28-13ec-fc252c0c83a9" xlink:to="loc_key_FinancingReceivableModificationsConcessionsIncreaseInNewCommitmentOrMoney_2EAEA621C06EE5B805FC00E6302D492C" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_FinancingReceivableModificationsConcessionsInterestRateReduction" xlink:label="loc_key_FinancingReceivableModificationsConcessionsInterestRateReduction_36b4e8f8-ce66-6aa1-4908-fc252c0e8785" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_FinancingReceivableModificationsConcessions_c8321123-0650-0e28-13ec-fc252c0c83a9" xlink:to="loc_key_FinancingReceivableModificationsConcessionsInterestRateReduction_36b4e8f8-ce66-6aa1-4908-fc252c0e8785" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_FinancingReceivableModificationsConcessionsForgivenessOfPrincipal" xlink:label="loc_key_FinancingReceivableModificationsConcessionsForgivenessOfPrincipal_150f4bd0-7ed7-0146-bfd2-fc252d07de70" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_FinancingReceivableModificationsConcessions_c8321123-0650-0e28-13ec-fc252c0c83a9" xlink:to="loc_key_FinancingReceivableModificationsConcessionsForgivenessOfPrincipal_150f4bd0-7ed7-0146-bfd2-fc252d07de70" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_FinancingReceivableModificationsConcessionsOther" xlink:label="loc_key_FinancingReceivableModificationsConcessionsOther_31f7f9d0-f819-e2e2-5b42-fc252c4bfd70" xlink:type="locator" />
    <link:calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_FinancingReceivableModificationsConcessions_c8321123-0650-0e28-13ec-fc252c0c83a9" xlink:to="loc_key_FinancingReceivableModificationsConcessionsOther_31f7f9d0-f819-e2e2-5b42-fc252c4bfd70" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/AssetQualitySummaryOfPostModificationOutstandingRecordedInvestmentTdrsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/AssetQualityTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/BusinessSegmentReporting" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/BusinessSegmentReportingFinancialInformationOfBusinessGroupsDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_d71649eb-5769-933d-7982-2a2ada9ea257" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_425ada39-f194-a279-47ac-dd09cf899fb1" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_d71649eb-5769-933d-7982-2a2ada9ea257" xlink:to="loc_us-gaap_Revenues_425ada39-f194-a279-47ac-dd09cf899fb1" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_InterestIncomeExpenseNetTaxableEquivalent" xlink:label="loc_key_InterestIncomeExpenseNetTaxableEquivalent_986682e6-03a4-cc36-8076-fc2531bd6ae7" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Revenues_425ada39-f194-a279-47ac-dd09cf899fb1" xlink:to="loc_key_InterestIncomeExpenseNetTaxableEquivalent_986682e6-03a4-cc36-8076-fc2531bd6ae7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NoninterestIncome" xlink:label="loc_us-gaap_NoninterestIncome_315eb9df-a895-f713-c268-9c6813436750" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Revenues_425ada39-f194-a279-47ac-dd09cf899fb1" xlink:to="loc_us-gaap_NoninterestIncome_315eb9df-a895-f713-c268-9c6813436750" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_FinancingReceivableAllowanceForCreditLossesLendingRelatedCommitments" xlink:label="loc_key_FinancingReceivableAllowanceForCreditLossesLendingRelatedCommitments_faa717f5-5a38-1a7a-d21d-fc252f2bcbbb" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_d71649eb-5769-933d-7982-2a2ada9ea257" xlink:to="loc_key_FinancingReceivableAllowanceForCreditLossesLendingRelatedCommitments_faa717f5-5a38-1a7a-d21d-fc252f2bcbbb" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="loc_us-gaap_DepreciationAndAmortization_9f9b2594-efaa-e1fa-01db-e194221f432f" xlink:type="locator" />
    <link:calculationArc order="3" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_d71649eb-5769-933d-7982-2a2ada9ea257" xlink:to="loc_us-gaap_DepreciationAndAmortization_9f9b2594-efaa-e1fa-01db-e194221f432f" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_NoninterestandOtherExpense" xlink:label="loc_key_NoninterestandOtherExpense_98031191-9f3d-6a14-c705-fc252c157c8d" xlink:type="locator" />
    <link:calculationArc order="4" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_d71649eb-5769-933d-7982-2a2ada9ea257" xlink:to="loc_key_NoninterestandOtherExpense_98031191-9f3d-6a14-c705-fc252c157c8d" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/BusinessSegmentReportingNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/BusinessSegmentReportingTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/CommitmentsContingentLiabilitiesAndGuarantees" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/CommitmentsContingentLiabilitiesAndGuaranteesCommitmentsToExtendCreditOrFundingDetails" xlink:type="extended">
    <link:loc xlink:href="key-20191231.xsd#key_LoanAndOtherCommitments" xlink:label="loc_key_LoanAndOtherCommitments_46fd19b5-192d-64e0-e77d-9418bf47dcea" xlink:type="locator" />
    <link:loc xlink:href="key-20191231.xsd#key_LoanCommitments" xlink:label="loc_key_LoanCommitments_c193dc4f-10b3-9461-4577-9418beb87975" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LoanAndOtherCommitments_46fd19b5-192d-64e0-e77d-9418bf47dcea" xlink:to="loc_key_LoanCommitments_c193dc4f-10b3-9461-4577-9418beb87975" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_CommercialLettersOfCredit" xlink:label="loc_key_CommercialLettersOfCredit_91f03c34-19a1-985a-f21f-9418bee58166" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LoanAndOtherCommitments_46fd19b5-192d-64e0-e77d-9418bf47dcea" xlink:to="loc_key_CommercialLettersOfCredit_91f03c34-19a1-985a-f21f-9418bee58166" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_PurchaseCardCommitments" xlink:label="loc_key_PurchaseCardCommitments_9d833248-a3fb-9966-49f5-9418bd8ae6af" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LoanAndOtherCommitments_46fd19b5-192d-64e0-e77d-9418bf47dcea" xlink:to="loc_key_PurchaseCardCommitments_9d833248-a3fb-9966-49f5-9418bd8ae6af" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_PrincipalInvestingCommitments" xlink:label="loc_key_PrincipalInvestingCommitments_94623acb-3a25-c904-5595-9418bdae1beb" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LoanAndOtherCommitments_46fd19b5-192d-64e0-e77d-9418bf47dcea" xlink:to="loc_key_PrincipalInvestingCommitments_94623acb-3a25-c904-5595-9418bdae1beb" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_TaxCreditInvestmentCommitments" xlink:label="loc_key_TaxCreditInvestmentCommitments_2fa35bf4-1bf1-8a41-033a-9418bf7deaff" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LoanAndOtherCommitments_46fd19b5-192d-64e0-e77d-9418bf47dcea" xlink:to="loc_key_TaxCreditInvestmentCommitments_2fa35bf4-1bf1-8a41-033a-9418bf7deaff" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/CommitmentsContingentLiabilitiesAndGuaranteesGuaranteesDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/CommitmentsContingentLiabilitiesAndGuaranteesNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/CommitmentsContingentLiabilitiesAndGuaranteesTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/CondensedFinancialInformationOfParentCompany" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/CondensedFinancialInformationOfParentCompanyCondensedBalanceSheetsDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_Assets" xlink:label="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CashAndDueFromBanks" xlink:label="loc_us-gaap_CashAndDueFromBanks_ab8a4270-8334-689f-07c9-a87f4568f35a" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_CashAndDueFromBanks_ab8a4270-8334-689f-07c9-a87f4568f35a" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ShortTermInvestments" xlink:label="loc_us-gaap_ShortTermInvestments_19ee0686-4389-5dfa-deaf-cddb58597060" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_ShortTermInvestments_19ee0686-4389-5dfa-deaf-cddb58597060" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecurities" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_e562c48b-3e99-2c57-8e96-c3b81056b58c" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_e562c48b-3e99-2c57-8e96-c3b81056b58c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherShortTermInvestments" xlink:label="loc_us-gaap_OtherShortTermInvestments_f5429b78-ed35-dced-e17f-9596b66e81f9" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_OtherShortTermInvestments_f5429b78-ed35-dced-e17f-9596b66e81f9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:label="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmount_dca7a301-7b9b-bf9f-8832-b75fdb3bd6ce" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmount_dca7a301-7b9b-bf9f-8832-b75fdb3bd6ce" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:label="loc_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_c69f300d-b963-81ba-e5d8-70c441a5125f" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_c69f300d-b963-81ba-e5d8-70c441a5125f" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_Goodwill" xlink:label="loc_us-gaap_Goodwill_37b440e2-656c-b624-0688-b7cf681bf981" xlink:type="locator" />
    <link:calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_Goodwill_37b440e2-656c-b624-0688-b7cf681bf981" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BankOwnedLifeInsurance" xlink:label="loc_us-gaap_BankOwnedLifeInsurance_e4d6e58e-d43d-e24e-bc77-11d8f2286248" xlink:type="locator" />
    <link:calculationArc order="8" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_BankOwnedLifeInsurance_e4d6e58e-d43d-e24e-bc77-11d8f2286248" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DerivativeAssets" xlink:label="loc_us-gaap_DerivativeAssets_05d1a9f5-40b5-5876-afca-b2b8e7f078c9" xlink:type="locator" />
    <link:calculationArc order="9" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_DerivativeAssets_05d1a9f5-40b5-5876-afca-b2b8e7f078c9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherAssets" xlink:label="loc_us-gaap_OtherAssets_53a34e15-d375-c4e0-c5cf-68e055eee5e5" xlink:type="locator" />
    <link:calculationArc order="10" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_OtherAssets_53a34e15-d375-c4e0-c5cf-68e055eee5e5" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/CondensedFinancialInformationOfParentCompanyCondensedStatementsOfCashFlowsDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:type="locator" />
    <link:loc xlink:href="key-20191231.xsd#key_NetIncreaseDecreaseInShortTermInvestments" xlink:label="loc_key_NetIncreaseDecreaseInShortTermInvestments_a52451b8-cc36-6226-43ce-fc252c6f78f7" xlink:type="locator" />
    <link:calculationArc order="1" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_key_NetIncreaseDecreaseInShortTermInvestments_a52451b8-cc36-6226-43ce-fc252c6f78f7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities" xlink:label="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_e3f9215c-1f64-e636-ccb3-9c51d05b0a6d" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_e3f9215c-1f64-e636-ccb3-9c51d05b0a6d" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromCollectionOfLongtermLoansToRelatedParties" xlink:label="loc_us-gaap_ProceedsFromCollectionOfLongtermLoansToRelatedParties_8eb3ccea-abb3-21ad-a7e8-48c0cb0efd96" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_us-gaap_ProceedsFromCollectionOfLongtermLoansToRelatedParties_8eb3ccea-abb3-21ad-a7e8-48c0cb0efd96" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsForPreviousAcquisition" xlink:label="loc_us-gaap_PaymentsForPreviousAcquisition_a353fce1-3f5d-bd4a-04f9-88b032d18450" xlink:type="locator" />
    <link:calculationArc order="4" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_us-gaap_PaymentsForPreviousAcquisition_a353fce1-3f5d-bd4a-04f9-88b032d18450" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss_e170ce1e-c3a8-e8ee-88b0-37e8dd7b1d11" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_NetIncomeLoss_e170ce1e-c3a8-e8ee-88b0-37e8dd7b1d11" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredIncomeTaxes" xlink:label="loc_us-gaap_IncreaseDecreaseInDeferredIncomeTaxes_0074e2ce-7b7b-56f1-34ed-f9d5bd5d1c3d" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_IncreaseDecreaseInDeferredIncomeTaxes_0074e2ce-7b7b-56f1-34ed-f9d5bd5d1c3d" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="loc_us-gaap_ShareBasedCompensation_f0b9d825-b0b9-37fd-4d25-9294a8598890" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_ShareBasedCompensation_f0b9d825-b0b9-37fd-4d25-9294a8598890" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments_86dec120-3352-31c8-fc61-55992f948bdd" xlink:type="locator" />
    <link:calculationArc order="4" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_IncomeLossFromEquityMethodInvestments_86dec120-3352-31c8-fc61-55992f948bdd" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_5550ae9d-a6e2-fc35-fc50-54521e2bfb5d" xlink:type="locator" />
    <link:calculationArc order="5" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_5550ae9d-a6e2-fc35-fc50-54521e2bfb5d" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_d7de2883-fea4-6e7c-2c8b-7fee9aa34369" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_d7de2883-fea4-6e7c-2c8b-7fee9aa34369" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_2d3aea93-0685-7648-d025-abd4b91cbb46" xlink:type="locator" />
    <link:calculationArc order="7" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_2d3aea93-0685-7648-d025-abd4b91cbb46" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt_f58bb86e-8b52-c30f-7b3a-554d3e73586f" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:to="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt_f58bb86e-8b52-c30f-7b3a-554d3e73586f" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:label="loc_us-gaap_RepaymentsOfLongTermDebt_50c96d39-6558-6bd8-b3d6-7ed1c558807e" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:to="loc_us-gaap_RepaymentsOfLongTermDebt_50c96d39-6558-6bd8-b3d6-7ed1c558807e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_3f804297-91a1-3939-541d-a39b6288c9f9" xlink:type="locator" />
    <link:calculationArc order="3" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:to="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_3f804297-91a1-3939-541d-a39b6288c9f9" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_NetProceedsFromIssuanceOfCommonSharesAndPreferredStock" xlink:label="loc_key_NetProceedsFromIssuanceOfCommonSharesAndPreferredStock_a14e7bfc-06fc-6775-5a9a-9418bd2ca3b6" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:to="loc_key_NetProceedsFromIssuanceOfCommonSharesAndPreferredStock_a14e7bfc-06fc-6775-5a9a-9418bd2ca3b6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsOfDividends" xlink:label="loc_us-gaap_PaymentsOfDividends_97b2cb74-f62e-ba8a-3953-eb9af3cfb8a4" xlink:type="locator" />
    <link:calculationArc order="5" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:to="loc_us-gaap_PaymentsOfDividends_97b2cb74-f62e-ba8a-3953-eb9af3cfb8a4" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/CondensedFinancialInformationOfParentCompanyCondensedStatementsOfIncomeDetails" xlink:type="extended">
    <link:loc xlink:href="key-20191231.xsd#key_InterestAndNonInterestExpenses" xlink:label="loc_key_InterestAndNonInterestExpenses_d16f568c-2c06-9840-8a8e-9418bc8ad699" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestExpenseLongTermDebt" xlink:label="loc_us-gaap_InterestExpenseLongTermDebt_77659a1d-5e89-4a8e-1e20-fa16a432d564" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_InterestAndNonInterestExpenses_d16f568c-2c06-9840-8a8e-9418bc8ad699" xlink:to="loc_us-gaap_InterestExpenseLongTermDebt_77659a1d-5e89-4a8e-1e20-fa16a432d564" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestExpenseOtherShortTermBorrowings" xlink:label="loc_us-gaap_InterestExpenseOtherShortTermBorrowings_2601b9cf-cae8-2ca1-a986-68b71dfe4838" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_InterestAndNonInterestExpenses_d16f568c-2c06-9840-8a8e-9418bc8ad699" xlink:to="loc_us-gaap_InterestExpenseOtherShortTermBorrowings_2601b9cf-cae8-2ca1-a986-68b71dfe4838" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_PersonnelAndOtherExpense" xlink:label="loc_key_PersonnelAndOtherExpense_4de8454d-f681-3514-c1ec-9418beae6181" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_InterestAndNonInterestExpenses_d16f568c-2c06-9840-8a8e-9418bc8ad699" xlink:to="loc_key_PersonnelAndOtherExpense_4de8454d-f681-3514-c1ec-9418beae6181" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestAndDividendIncomeOperating" xlink:label="loc_us-gaap_InterestAndDividendIncomeOperating_623d1e10-c4e7-6a0a-be2a-ef2b024027b6" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InvestmentsInAndAdvancesToAffiliatesDividendOrInterestCreditedToIncome" xlink:label="loc_us-gaap_InvestmentsInAndAdvancesToAffiliatesDividendOrInterestCreditedToIncome_81c5af5c-7115-1bff-e59c-0a2c27266e94" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestAndDividendIncomeOperating_623d1e10-c4e7-6a0a-be2a-ef2b024027b6" xlink:to="loc_us-gaap_InvestmentsInAndAdvancesToAffiliatesDividendOrInterestCreditedToIncome_81c5af5c-7115-1bff-e59c-0a2c27266e94" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_InterestIncomeFromSubsidiaries" xlink:label="loc_key_InterestIncomeFromSubsidiaries_0d622d48-85d1-54d0-f9ba-9418c16b0e55" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestAndDividendIncomeOperating_623d1e10-c4e7-6a0a-be2a-ef2b024027b6" xlink:to="loc_key_InterestIncomeFromSubsidiaries_0d622d48-85d1-54d0-f9ba-9418c16b0e55" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NoninterestIncomeOther" xlink:label="loc_us-gaap_NoninterestIncomeOther_a569547c-68fb-5298-d5e4-8a37615412d5" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestAndDividendIncomeOperating_623d1e10-c4e7-6a0a-be2a-ef2b024027b6" xlink:to="loc_us-gaap_NoninterestIncomeOther_a569547c-68fb-5298-d5e4-8a37615412d5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_8b582348-a62e-cdfb-bc53-d5894b42e091" xlink:type="locator" />
    <link:loc xlink:href="key-20191231.xsd#key_IncomeLossBeforeEquityInNetIncomeLossLessDividendsFromSubsidiaries" xlink:label="loc_key_IncomeLossBeforeEquityInNetIncomeLossLessDividendsFromSubsidiaries_3c2e2fe9-a6df-8877-6e17-9418bf09d082" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_8b582348-a62e-cdfb-bc53-d5894b42e091" xlink:to="loc_key_IncomeLossBeforeEquityInNetIncomeLossLessDividendsFromSubsidiaries_3c2e2fe9-a6df-8877-6e17-9418bf09d082" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_d71649eb-5769-933d-7982-2a2ada9ea257" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_IncomeLossBeforeEquityInNetIncomeLossLessDividendsFromSubsidiaries_3c2e2fe9-a6df-8877-6e17-9418bf09d082" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_d71649eb-5769-933d-7982-2a2ada9ea257" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_666ca9f0-28f1-b21a-025e-36222808a6c3" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_IncomeLossBeforeEquityInNetIncomeLossLessDividendsFromSubsidiaries_3c2e2fe9-a6df-8877-6e17-9418bf09d082" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_666ca9f0-28f1-b21a-025e-36222808a6c3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments_86dec120-3352-31c8-fc61-55992f948bdd" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_8b582348-a62e-cdfb-bc53-d5894b42e091" xlink:to="loc_us-gaap_IncomeLossFromEquityMethodInvestments_86dec120-3352-31c8-fc61-55992f948bdd" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/CondensedFinancialInformationOfParentCompanyNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/CondensedFinancialInformationOfParentCompanyTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/ConsolidatedBalanceSheets" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_Assets" xlink:label="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CashAndDueFromBanks" xlink:label="loc_us-gaap_CashAndDueFromBanks_ab8a4270-8334-689f-07c9-a87f4568f35a" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_CashAndDueFromBanks_ab8a4270-8334-689f-07c9-a87f4568f35a" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ShortTermInvestments" xlink:label="loc_us-gaap_ShortTermInvestments_19ee0686-4389-5dfa-deaf-cddb58597060" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_ShortTermInvestments_19ee0686-4389-5dfa-deaf-cddb58597060" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_TradingSecurities" xlink:label="loc_us-gaap_TradingSecurities_cbc3cbda-1fb1-af8e-0097-b56de43893a0" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_TradingSecurities_cbc3cbda-1fb1-af8e-0097-b56de43893a0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecurities" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_e562c48b-3e99-2c57-8e96-c3b81056b58c" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_e562c48b-3e99-2c57-8e96-c3b81056b58c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecurities" xlink:label="loc_us-gaap_HeldToMaturitySecurities_68681ceb-ee59-4c23-4b8e-33a166cc5b4e" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_HeldToMaturitySecurities_68681ceb-ee59-4c23-4b8e-33a166cc5b4e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherInvestments" xlink:label="loc_us-gaap_OtherInvestments_83cb8fda-8368-0bfc-07a8-e25c618c7b71" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_OtherInvestments_83cb8fda-8368-0bfc-07a8-e25c618c7b71" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:label="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmount_dca7a301-7b9b-bf9f-8832-b75fdb3bd6ce" xlink:type="locator" />
    <link:calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmount_dca7a301-7b9b-bf9f-8832-b75fdb3bd6ce" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome" xlink:label="loc_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_cc5c1006-c22a-97e2-a6fb-a77bbc2c7a79" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmount_dca7a301-7b9b-bf9f-8832-b75fdb3bd6ce" xlink:to="loc_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_cc5c1006-c22a-97e2-a6fb-a77bbc2c7a79" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LoansAndLeasesReceivableAllowance" xlink:label="loc_us-gaap_LoansAndLeasesReceivableAllowance_13a4a1d2-3aa3-bc3b-4ab2-1897bd994b6f" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmount_dca7a301-7b9b-bf9f-8832-b75fdb3bd6ce" xlink:to="loc_us-gaap_LoansAndLeasesReceivableAllowance_13a4a1d2-3aa3-bc3b-4ab2-1897bd994b6f" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LoansReceivableHeldForSaleNetNotPartOfDisposalGroup" xlink:label="loc_us-gaap_LoansReceivableHeldForSaleNetNotPartOfDisposalGroup_78be1520-551c-f0cc-7f4b-78934e22be9d" xlink:type="locator" />
    <link:calculationArc order="8" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_LoansReceivableHeldForSaleNetNotPartOfDisposalGroup_78be1520-551c-f0cc-7f4b-78934e22be9d" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization" xlink:label="loc_key_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization_9F8F35C676FE0E6CF1401D6236DF47B4" xlink:type="locator" />
    <link:calculationArc order="9" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_key_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization_9F8F35C676FE0E6CF1401D6236DF47B4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_Goodwill" xlink:label="loc_us-gaap_Goodwill_37b440e2-656c-b624-0688-b7cf681bf981" xlink:type="locator" />
    <link:calculationArc order="10" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_Goodwill_37b440e2-656c-b624-0688-b7cf681bf981" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_8889606b-88fa-2d5e-3fb9-238bccdf9597" xlink:type="locator" />
    <link:calculationArc order="11" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_8889606b-88fa-2d5e-3fb9-238bccdf9597" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BankOwnedLifeInsurance" xlink:label="loc_us-gaap_BankOwnedLifeInsurance_e4d6e58e-d43d-e24e-bc77-11d8f2286248" xlink:type="locator" />
    <link:calculationArc order="12" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_BankOwnedLifeInsurance_e4d6e58e-d43d-e24e-bc77-11d8f2286248" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherAssets" xlink:label="loc_us-gaap_OtherAssets_53a34e15-d375-c4e0-c5cf-68e055eee5e5" xlink:type="locator" />
    <link:calculationArc order="13" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_OtherAssets_53a34e15-d375-c4e0-c5cf-68e055eee5e5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation" xlink:label="loc_us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation_f30b9be6-59bd-43dd-a4a4-1c4cbaaa1790" xlink:type="locator" />
    <link:calculationArc order="14" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_17ef3f41-42f7-52c0-cba1-93e7e0e1116a" xlink:to="loc_us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation_f30b9be6-59bd-43dd-a4a4-1c4cbaaa1790" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_d7f1ad03-6ed4-706a-15fc-eae794dee33a" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_Liabilities" xlink:label="loc_us-gaap_Liabilities_44863786-cbc4-bac4-e070-0a1f19314584" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_d7f1ad03-6ed4-706a-15fc-eae794dee33a" xlink:to="loc_us-gaap_Liabilities_44863786-cbc4-bac4-e070-0a1f19314584" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_Deposits" xlink:label="loc_us-gaap_Deposits_08c11e64-d78c-1df3-eb2d-2100602d7e9e" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_44863786-cbc4-bac4-e070-0a1f19314584" xlink:to="loc_us-gaap_Deposits_08c11e64-d78c-1df3-eb2d-2100602d7e9e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestBearingDepositLiabilitiesDomestic" xlink:label="loc_us-gaap_InterestBearingDepositLiabilitiesDomestic_4b8df1e8-6fb9-1039-db17-9a0c6eff3c0d" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Deposits_08c11e64-d78c-1df3-eb2d-2100602d7e9e" xlink:to="loc_us-gaap_InterestBearingDepositLiabilitiesDomestic_4b8df1e8-6fb9-1039-db17-9a0c6eff3c0d" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DepositsMoneyMarketDepositsAndNegotiableOrderOfWithdrawalNOW" xlink:label="loc_us-gaap_DepositsMoneyMarketDepositsAndNegotiableOrderOfWithdrawalNOW_ab667662-8c32-5545-3817-135aac57737d" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestBearingDepositLiabilitiesDomestic_4b8df1e8-6fb9-1039-db17-9a0c6eff3c0d" xlink:to="loc_us-gaap_DepositsMoneyMarketDepositsAndNegotiableOrderOfWithdrawalNOW_ab667662-8c32-5545-3817-135aac57737d" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DepositsSavingsDeposits" xlink:label="loc_us-gaap_DepositsSavingsDeposits_911ff4dd-b2e8-d16a-b85c-650fe3ab6208" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestBearingDepositLiabilitiesDomestic_4b8df1e8-6fb9-1039-db17-9a0c6eff3c0d" xlink:to="loc_us-gaap_DepositsSavingsDeposits_911ff4dd-b2e8-d16a-b85c-650fe3ab6208" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestBearingDomesticDepositCertificatesOfDeposits" xlink:label="loc_us-gaap_InterestBearingDomesticDepositCertificatesOfDeposits_421ea978-c58b-4037-63fe-596fb652cb7b" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestBearingDepositLiabilitiesDomestic_4b8df1e8-6fb9-1039-db17-9a0c6eff3c0d" xlink:to="loc_us-gaap_InterestBearingDomesticDepositCertificatesOfDeposits_421ea978-c58b-4037-63fe-596fb652cb7b" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestBearingDomesticDepositOtherTimeDeposit" xlink:label="loc_us-gaap_InterestBearingDomesticDepositOtherTimeDeposit_a7e1fd29-0372-a1e3-7fab-b0402943d5f7" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestBearingDepositLiabilitiesDomestic_4b8df1e8-6fb9-1039-db17-9a0c6eff3c0d" xlink:to="loc_us-gaap_InterestBearingDomesticDepositOtherTimeDeposit_a7e1fd29-0372-a1e3-7fab-b0402943d5f7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NoninterestBearingDepositLiabilitiesDomestic" xlink:label="loc_us-gaap_NoninterestBearingDepositLiabilitiesDomestic_782903e3-1f2a-f599-e57a-320b0791aa0f" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Deposits_08c11e64-d78c-1df3-eb2d-2100602d7e9e" xlink:to="loc_us-gaap_NoninterestBearingDepositLiabilitiesDomestic_782903e3-1f2a-f599-e57a-320b0791aa0f" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchase" xlink:label="loc_us-gaap_FederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchase_b7c2b80f-f3d9-0bda-08e8-f4f5e39f083f" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_44863786-cbc4-bac4-e070-0a1f19314584" xlink:to="loc_us-gaap_FederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchase_b7c2b80f-f3d9-0bda-08e8-f4f5e39f083f" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ShortTermBankLoansAndNotesPayable" xlink:label="loc_us-gaap_ShortTermBankLoansAndNotesPayable_8cf6316b-57ab-9eda-92d0-27465819ef6e" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_44863786-cbc4-bac4-e070-0a1f19314584" xlink:to="loc_us-gaap_ShortTermBankLoansAndNotesPayable_8cf6316b-57ab-9eda-92d0-27465819ef6e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccruedLiabilitiesAndOtherLiabilities" xlink:label="loc_us-gaap_AccruedLiabilitiesAndOtherLiabilities_f4cf4166-82c4-d92f-b23a-9de80e75cf26" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_44863786-cbc4-bac4-e070-0a1f19314584" xlink:to="loc_us-gaap_AccruedLiabilitiesAndOtherLiabilities_f4cf4166-82c4-d92f-b23a-9de80e75cf26" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt_a2f199ce-3001-c200-d488-633bc54206dc" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_44863786-cbc4-bac4-e070-0a1f19314584" xlink:to="loc_us-gaap_LongTermDebt_a2f199ce-3001-c200-d488-633bc54206dc" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_2605fa18-bbd8-c7d7-35fc-aace43a8c019" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_d7f1ad03-6ed4-706a-15fc-eae794dee33a" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_2605fa18-bbd8-c7d7-35fc-aace43a8c019" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_us-gaap_StockholdersEquity_4b9904d8-8624-0dbb-a949-29ff2cf808a8" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_2605fa18-bbd8-c7d7-35fc-aace43a8c019" xlink:to="loc_us-gaap_StockholdersEquity_4b9904d8-8624-0dbb-a949-29ff2cf808a8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockValue" xlink:label="loc_us-gaap_CommonStockValue_f05ab245-2bd1-7865-e7ed-1461a5a6155f" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_4b9904d8-8624-0dbb-a949-29ff2cf808a8" xlink:to="loc_us-gaap_CommonStockValue_f05ab245-2bd1-7865-e7ed-1461a5a6155f" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="loc_us-gaap_AdditionalPaidInCapital_3d5a0ca6-0f59-67e6-adb5-6aecd22b693b" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_4b9904d8-8624-0dbb-a949-29ff2cf808a8" xlink:to="loc_us-gaap_AdditionalPaidInCapital_3d5a0ca6-0f59-67e6-adb5-6aecd22b693b" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_62305d8f-d807-0fe8-d0ab-f2c2b3d03011" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_4b9904d8-8624-0dbb-a949-29ff2cf808a8" xlink:to="loc_us-gaap_RetainedEarningsAccumulatedDeficit_62305d8f-d807-0fe8-d0ab-f2c2b3d03011" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_TreasuryStockValue" xlink:label="loc_us-gaap_TreasuryStockValue_e6069c8d-dfec-45ff-4b3f-643d125d5b29" xlink:type="locator" />
    <link:calculationArc order="4" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_4b9904d8-8624-0dbb-a949-29ff2cf808a8" xlink:to="loc_us-gaap_TreasuryStockValue_e6069c8d-dfec-45ff-4b3f-643d125d5b29" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_988c1346-b444-a867-fe80-f3aec1443d54" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_4b9904d8-8624-0dbb-a949-29ff2cf808a8" xlink:to="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_988c1346-b444-a867-fe80-f3aec1443d54" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="loc_us-gaap_PreferredStockValue_928e20af-e738-4a2d-05b8-cf88fed11953" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_4b9904d8-8624-0dbb-a949-29ff2cf808a8" xlink:to="loc_us-gaap_PreferredStockValue_928e20af-e738-4a2d-05b8-cf88fed11953" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_MinorityInterest" xlink:label="loc_us-gaap_MinorityInterest_3070eb63-b0f5-1f18-a22f-cc54a94922d9" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_2605fa18-bbd8-c7d7-35fc-aace43a8c019" xlink:to="loc_us-gaap_MinorityInterest_3070eb63-b0f5-1f18-a22f-cc54a94922d9" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/ConsolidatedStatementsOfCashFlows" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_50231013-f048-89e7-0e20-ba139224c5f7" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_50231013-f048-89e7-0e20-ba139224c5f7" xlink:to="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_8b582348-a62e-cdfb-bc53-d5894b42e091" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_ProfitLoss_8b582348-a62e-cdfb-bc53-d5894b42e091" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProvisionForLoanLeaseAndOtherLosses" xlink:label="loc_us-gaap_ProvisionForLoanLeaseAndOtherLosses_fb9b10b1-d4d8-bf51-0524-f2efda24b93a" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_ProvisionForLoanLeaseAndOtherLosses_fb9b10b1-d4d8-bf51-0524-f2efda24b93a" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DepreciationAmortizationAndAccretionNet" xlink:label="loc_us-gaap_DepreciationAmortizationAndAccretionNet_f8d3390c-1850-b76f-7062-99d566a4ad4a" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_DepreciationAmortizationAndAccretionNet_f8d3390c-1850-b76f-7062-99d566a4ad4a" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccretionExpense" xlink:label="loc_us-gaap_AccretionExpense_66f25f65-22c8-c214-7961-82c99d6dcfe6" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_AccretionExpense_66f25f65-22c8-c214-7961-82c99d6dcfe6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LifeInsuranceCorporateOrBankOwnedChangeInValue" xlink:label="loc_us-gaap_LifeInsuranceCorporateOrBankOwnedChangeInValue_f91d5e30-6fa8-342d-786f-94514777e8ed" xlink:type="locator" />
    <link:calculationArc order="5" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_LifeInsuranceCorporateOrBankOwnedChangeInValue_f91d5e30-6fa8-342d-786f-94514777e8ed" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="loc_us-gaap_ShareBasedCompensation_f0b9d825-b0b9-37fd-4d25-9294a8598890" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_ShareBasedCompensation_f0b9d825-b0b9-37fd-4d25-9294a8598890" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_FdicReimbursementsPaymentsNetOfExpenses" xlink:label="loc_key_FdicReimbursementsPaymentsNetOfExpenses_781836a4-28da-4247-d845-fc2531c38b94" xlink:type="locator" />
    <link:calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_key_FdicReimbursementsPaymentsNetOfExpenses_781836a4-28da-4247-d845-fc2531c38b94" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredIncomeTaxes" xlink:label="loc_us-gaap_IncreaseDecreaseInDeferredIncomeTaxes_0074e2ce-7b7b-56f1-34ed-f9d5bd5d1c3d" xlink:type="locator" />
    <link:calculationArc order="8" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_IncreaseDecreaseInDeferredIncomeTaxes_0074e2ce-7b7b-56f1-34ed-f9d5bd5d1c3d" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromSaleOfLoansHeldForSale" xlink:label="loc_us-gaap_ProceedsFromSaleOfLoansHeldForSale_7254adf9-7d48-c495-c9a9-99c6f3e91868" xlink:type="locator" />
    <link:calculationArc order="9" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_ProceedsFromSaleOfLoansHeldForSale_7254adf9-7d48-c495-c9a9-99c6f3e91868" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_OriginationsOfLoansHeldForSaleNetOfRepayments" xlink:label="loc_key_OriginationsOfLoansHeldForSaleNetOfRepayments_2e6eabdb-0025-504d-f08f-fc2530b936b8" xlink:type="locator" />
    <link:calculationArc order="10" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_key_OriginationsOfLoansHeldForSaleNetOfRepayments_2e6eabdb-0025-504d-f08f-fc2530b936b8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GainLossOnSalesOfLoansNet" xlink:label="loc_us-gaap_GainLossOnSalesOfLoansNet_804a69ff-2cfe-e702-e487-c00eedaeee40" xlink:type="locator" />
    <link:calculationArc order="11" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_GainLossOnSalesOfLoansNet_804a69ff-2cfe-e702-e487-c00eedaeee40" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherRealEstateValuationAdjustments" xlink:label="loc_us-gaap_OtherRealEstateValuationAdjustments_667a90cf-b303-bb5c-0d65-6a39288b9761" xlink:type="locator" />
    <link:calculationArc order="12" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_OtherRealEstateValuationAdjustments_667a90cf-b303-bb5c-0d65-6a39288b9761" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_GainsLossesOnLeasedEquipment" xlink:label="loc_key_GainsLossesOnLeasedEquipment_fec836ca-f78e-1458-c680-fc2530dd7e6b" xlink:type="locator" />
    <link:calculationArc order="13" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_key_GainsLossesOnLeasedEquipment_fec836ca-f78e-1458-c680-fc2530dd7e6b" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GainLossOnDispositionOfAssets" xlink:label="loc_us-gaap_GainLossOnDispositionOfAssets_7e8e2246-8023-5ca5-de74-64865b889952" xlink:type="locator" />
    <link:calculationArc order="14" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_GainLossOnDispositionOfAssets_7e8e2246-8023-5ca5-de74-64865b889952" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtAndEquitySecuritiesGainLoss" xlink:label="loc_us-gaap_DebtAndEquitySecuritiesGainLoss_621f303c-751b-9349-bcf4-ad4fd6948d9c" xlink:type="locator" />
    <link:calculationArc order="15" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_DebtAndEquitySecuritiesGainLoss_621f303c-751b-9349-bcf4-ad4fd6948d9c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInTradingSecurities" xlink:label="loc_us-gaap_IncreaseDecreaseInTradingSecurities_aebbb56b-e18c-4437-870f-44eea3891780" xlink:type="locator" />
    <link:calculationArc order="16" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_IncreaseDecreaseInTradingSecurities_aebbb56b-e18c-4437-870f-44eea3891780" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_2d3aea93-0685-7648-d025-abd4b91cbb46" xlink:type="locator" />
    <link:calculationArc order="17" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_2d3aea93-0685-7648-d025-abd4b91cbb46" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GainLossOnSaleOfBusiness" xlink:label="loc_us-gaap_GainLossOnSaleOfBusiness_2590fc0f-c2e5-fe6d-0763-c4943b1b3e60" xlink:type="locator" />
    <link:calculationArc order="18" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ce0d7b63-a366-bc9b-79e1-780981e428fe" xlink:to="loc_us-gaap_GainLossOnSaleOfBusiness_2590fc0f-c2e5-fe6d-0763-c4943b1b3e60" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_50231013-f048-89e7-0e20-ba139224c5f7" xlink:to="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_NetIncreaseDecreaseInShortTermInvestments" xlink:label="loc_key_NetIncreaseDecreaseInShortTermInvestments_a52451b8-cc36-6226-43ce-fc252c6f78f7" xlink:type="locator" />
    <link:calculationArc order="1" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_key_NetIncreaseDecreaseInShortTermInvestments_a52451b8-cc36-6226-43ce-fc252c6f78f7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:label="loc_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt_8b51ae5f-8f14-ae0e-00e7-8f4e716f2f96" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt_8b51ae5f-8f14-ae0e-00e7-8f4e716f2f96" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt" xlink:label="loc_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt_d1d20cfe-f038-824a-0236-247c2a122ebc" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt_d1d20cfe-f038-824a-0236-247c2a122ebc" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities" xlink:label="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_e3f9215c-1f64-e636-ccb3-9c51d05b0a6d" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_e3f9215c-1f64-e636-ccb3-9c51d05b0a6d" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities" xlink:label="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities_8f7b7d27-85ae-a2c8-2ad9-6450620cc1ca" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities_8f7b7d27-85ae-a2c8-2ad9-6450620cc1ca" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsToAcquireHeldToMaturitySecurities" xlink:label="loc_us-gaap_PaymentsToAcquireHeldToMaturitySecurities_404f28cc-d31b-88b1-2e58-f61c65ab1626" xlink:type="locator" />
    <link:calculationArc order="6" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_us-gaap_PaymentsToAcquireHeldToMaturitySecurities_404f28cc-d31b-88b1-2e58-f61c65ab1626" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsToAcquireOtherInvestments" xlink:label="loc_us-gaap_PaymentsToAcquireOtherInvestments_483713d8-e500-be9d-d173-6b5e26416fef" xlink:type="locator" />
    <link:calculationArc order="7" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_us-gaap_PaymentsToAcquireOtherInvestments_483713d8-e500-be9d-d173-6b5e26416fef" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromSaleOfOtherInvestments" xlink:label="loc_us-gaap_ProceedsFromSaleOfOtherInvestments_d814b465-0b98-83d1-de2f-6a15f61ab470" xlink:type="locator" />
    <link:calculationArc order="8" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_us-gaap_ProceedsFromSaleOfOtherInvestments_d814b465-0b98-83d1-de2f-6a15f61ab470" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfOtherInvestments" xlink:label="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfOtherInvestments_9a22fefd-bb0d-3cfd-2787-268b68473282" xlink:type="locator" />
    <link:calculationArc order="9" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfOtherInvestments_9a22fefd-bb0d-3cfd-2787-268b68473282" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_NetDecreaseIncreaseInLoansExcludingAcquisitionsSalesAndTransfers" xlink:label="loc_key_NetDecreaseIncreaseInLoansExcludingAcquisitionsSalesAndTransfers_5323792a-5743-7db7-fa36-fc2531c03da9" xlink:type="locator" />
    <link:calculationArc order="10" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_key_NetDecreaseIncreaseInLoansExcludingAcquisitionsSalesAndTransfers_5323792a-5743-7db7-fa36-fc2531c03da9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromSaleOfLoansHeldForInvestment" xlink:label="loc_us-gaap_ProceedsFromSaleOfLoansHeldForInvestment_72f0c5e4-0c47-e1a0-05b5-49e692998d9b" xlink:type="locator" />
    <link:calculationArc order="11" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_us-gaap_ProceedsFromSaleOfLoansHeldForInvestment_72f0c5e4-0c47-e1a0-05b5-49e692998d9b" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromLifeInsurancePolicies" xlink:label="loc_us-gaap_ProceedsFromLifeInsurancePolicies_10845f48-d32d-1416-91fa-5553258dee93" xlink:type="locator" />
    <link:calculationArc order="12" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_us-gaap_ProceedsFromLifeInsurancePolicies_10845f48-d32d-1416-91fa-5553258dee93" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsToAcquireProductiveAssets" xlink:label="loc_us-gaap_PaymentsToAcquireProductiveAssets_a73d82d7-3d54-5ea8-2d2f-c40454b71639" xlink:type="locator" />
    <link:calculationArc order="13" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_us-gaap_PaymentsToAcquireProductiveAssets_a73d82d7-3d54-5ea8-2d2f-c40454b71639" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:label="loc_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment_6d7a72cc-b15d-447c-3b26-c3564dc5b0b1" xlink:type="locator" />
    <link:calculationArc order="14" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment_6d7a72cc-b15d-447c-3b26-c3564dc5b0b1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans" xlink:label="loc_us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans_76fe5ab4-483c-662f-e94d-e4dc8d45f69b" xlink:type="locator" />
    <link:calculationArc order="15" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans_76fe5ab4-483c-662f-e94d-e4dc8d45f69b" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_6abb14d9-7978-302d-af6b-dbfc88f76bf2" xlink:type="locator" />
    <link:calculationArc order="16" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_6abb14d9-7978-302d-af6b-dbfc88f76bf2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromDivestitureOfBusinesses" xlink:label="loc_us-gaap_ProceedsFromDivestitureOfBusinesses_cbde70f2-30a7-61b4-c931-8ab720effe83" xlink:type="locator" />
    <link:calculationArc order="17" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0f07a806-a2da-6d18-a7a9-d734fad1f3b0" xlink:to="loc_us-gaap_ProceedsFromDivestitureOfBusinesses_cbde70f2-30a7-61b4-c931-8ab720effe83" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_50231013-f048-89e7-0e20-ba139224c5f7" xlink:to="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInDeposits" xlink:label="loc_us-gaap_IncreaseDecreaseInDeposits_7d827b46-a2b0-1913-8668-676c642fa092" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:to="loc_us-gaap_IncreaseDecreaseInDeposits_7d827b46-a2b0-1913-8668-676c642fa092" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt_f58bb86e-8b52-c30f-7b3a-554d3e73586f" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:to="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt_f58bb86e-8b52-c30f-7b3a-554d3e73586f" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:label="loc_us-gaap_RepaymentsOfLongTermDebt_50c96d39-6558-6bd8-b3d6-7ed1c558807e" xlink:type="locator" />
    <link:calculationArc order="3" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:to="loc_us-gaap_RepaymentsOfLongTermDebt_50c96d39-6558-6bd8-b3d6-7ed1c558807e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_3f804297-91a1-3939-541d-a39b6288c9f9" xlink:type="locator" />
    <link:calculationArc order="4" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:to="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_3f804297-91a1-3939-541d-a39b6288c9f9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfCommonStock_0f0975d6-8500-76a0-c74f-5d2f0ed8b620" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:to="loc_us-gaap_ProceedsFromIssuanceOfCommonStock_0f0975d6-8500-76a0-c74f-5d2f0ed8b620" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsOfDividends" xlink:label="loc_us-gaap_PaymentsOfDividends_97b2cb74-f62e-ba8a-3953-eb9af3cfb8a4" xlink:type="locator" />
    <link:calculationArc order="6" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:to="loc_us-gaap_PaymentsOfDividends_97b2cb74-f62e-ba8a-3953-eb9af3cfb8a4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_d58ff834-f6f4-d17f-9a5a-a8f17b05a983" xlink:type="locator" />
    <link:calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:to="loc_us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_d58ff834-f6f4-d17f-9a5a-a8f17b05a983" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsForRepurchaseOfRedeemablePreferredStock" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfRedeemablePreferredStock_b3980fbb-69fa-6811-b0ac-07eba429b865" xlink:type="locator" />
    <link:calculationArc order="8" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:to="loc_us-gaap_PaymentsForRepurchaseOfRedeemablePreferredStock_b3980fbb-69fa-6811-b0ac-07eba429b865" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsForRepurchaseOfOtherEquity" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfOtherEquity_b441e7f9-061c-a87d-caae-36407a22b028" xlink:type="locator" />
    <link:calculationArc order="9" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:to="loc_us-gaap_PaymentsForRepurchaseOfOtherEquity_b441e7f9-061c-a87d-caae-36407a22b028" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromShortTermDebt" xlink:label="loc_us-gaap_ProceedsFromShortTermDebt_f0d35d24-90f5-d279-b8ea-08a17fdbe9e3" xlink:type="locator" />
    <link:calculationArc order="10" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:to="loc_us-gaap_ProceedsFromShortTermDebt_f0d35d24-90f5-d279-b8ea-08a17fdbe9e3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RepaymentsOfShortTermDebt" xlink:label="loc_us-gaap_RepaymentsOfShortTermDebt_48142928-1201-6f98-3e39-a53c35d5b675" xlink:type="locator" />
    <link:calculationArc order="11" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1efd93c0-bb90-2a64-a997-3a70afaa3faa" xlink:to="loc_us-gaap_RepaymentsOfShortTermDebt_48142928-1201-6f98-3e39-a53c35d5b675" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/ConsolidatedStatementsOfChangesInEquity" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/ConsolidatedStatementsOfChangesInEquityParenthetical" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/ConsolidatedStatementsOfComprehensiveIncome" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_5c8b3520-1ca2-0a91-0912-70d62831826c" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_c4761fa8-dc2a-e270-4b5c-921deca83ad0" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_5c8b3520-1ca2-0a91-0912-70d62831826c" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_c4761fa8-dc2a-e270-4b5c-921deca83ad0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_8b582348-a62e-cdfb-bc53-d5894b42e091" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_c4761fa8-dc2a-e270-4b5c-921deca83ad0" xlink:to="loc_us-gaap_ProfitLoss_8b582348-a62e-cdfb-bc53-d5894b42e091" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_1ed26a82-dd4b-490f-d61a-b04c5d44793e" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_c4761fa8-dc2a-e270-4b5c-921deca83ad0" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_1ed26a82-dd4b-490f-d61a-b04c5d44793e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax_e88bd855-1cc4-7d92-7586-c29e344f0391" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_1ed26a82-dd4b-490f-d61a-b04c5d44793e" xlink:to="loc_us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax_e88bd855-1cc4-7d92-7586-c29e344f0391" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsAndTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsAndTax_4aa12f65-c01e-b69d-e1f7-33b49edb7292" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_1ed26a82-dd4b-490f-d61a-b04c5d44793e" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsAndTax_4aa12f65-c01e-b69d-e1f7-33b49edb7292" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_68a2669c-01f8-c962-bf95-0b4231cd45da" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_1ed26a82-dd4b-490f-d61a-b04c5d44793e" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_68a2669c-01f8-c962-bf95-0b4231cd45da" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax_bfbc3edc-1edc-bfc6-c7b6-fb403917e31e" xlink:type="locator" />
    <link:calculationArc order="4" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_1ed26a82-dd4b-490f-d61a-b04c5d44793e" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax_bfbc3edc-1edc-bfc6-c7b6-fb403917e31e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_397a475b-0af5-f3eb-f91e-9518c9a0cfd9" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_1ed26a82-dd4b-490f-d61a-b04c5d44793e" xlink:to="loc_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_397a475b-0af5-f3eb-f91e-9518c9a0cfd9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_51cce957-7438-47fa-f5b3-33f2b5e56016" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_5c8b3520-1ca2-0a91-0912-70d62831826c" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_51cce957-7438-47fa-f5b3-33f2b5e56016" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/ConsolidatedStatementsOfComprehensiveIncomeParenthetical" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/ConsolidatedStatementsOfIncome" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss_e170ce1e-c3a8-e8ee-88b0-37e8dd7b1d11" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_8b582348-a62e-cdfb-bc53-d5894b42e091" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_e170ce1e-c3a8-e8ee-88b0-37e8dd7b1d11" xlink:to="loc_us-gaap_ProfitLoss_8b582348-a62e-cdfb-bc53-d5894b42e091" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_1f42c682-c9cf-1de0-1230-a353dc469675" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_8b582348-a62e-cdfb-bc53-d5894b42e091" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_1f42c682-c9cf-1de0-1230-a353dc469675" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_489b61b6-7c39-240c-7f68-1c1675bca3b7" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_1f42c682-c9cf-1de0-1230-a353dc469675" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_489b61b6-7c39-240c-7f68-1c1675bca3b7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss" xlink:label="loc_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss_07ff5c90-0c78-bcc6-b6d9-b6f38c1f082c" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_489b61b6-7c39-240c-7f68-1c1675bca3b7" xlink:to="loc_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss_07ff5c90-0c78-bcc6-b6d9-b6f38c1f082c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestIncomeExpenseNet" xlink:label="loc_us-gaap_InterestIncomeExpenseNet_17d6fb00-d8ca-12a7-45aa-c9b702218c16" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss_07ff5c90-0c78-bcc6-b6d9-b6f38c1f082c" xlink:to="loc_us-gaap_InterestIncomeExpenseNet_17d6fb00-d8ca-12a7-45aa-c9b702218c16" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestAndDividendIncomeOperating" xlink:label="loc_us-gaap_InterestAndDividendIncomeOperating_623d1e10-c4e7-6a0a-be2a-ef2b024027b6" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestIncomeExpenseNet_17d6fb00-d8ca-12a7-45aa-c9b702218c16" xlink:to="loc_us-gaap_InterestAndDividendIncomeOperating_623d1e10-c4e7-6a0a-be2a-ef2b024027b6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio" xlink:label="loc_us-gaap_InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio_81b8bc0e-a0f9-1d96-1cce-e1e84aad8e06" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestAndDividendIncomeOperating_623d1e10-c4e7-6a0a-be2a-ef2b024027b6" xlink:to="loc_us-gaap_InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio_81b8bc0e-a0f9-1d96-1cce-e1e84aad8e06" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestAndFeeIncomeLoansAndLeasesHeldForSale" xlink:label="loc_us-gaap_InterestAndFeeIncomeLoansAndLeasesHeldForSale_0a3ecaa9-5976-8df3-dbde-bf89daa73743" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestAndDividendIncomeOperating_623d1e10-c4e7-6a0a-be2a-ef2b024027b6" xlink:to="loc_us-gaap_InterestAndFeeIncomeLoansAndLeasesHeldForSale_0a3ecaa9-5976-8df3-dbde-bf89daa73743" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestIncomeDebtSecuritiesAvailableForSaleOperating" xlink:label="loc_us-gaap_InterestIncomeDebtSecuritiesAvailableForSaleOperating_8b2e94d9-f7b0-66d2-9a11-21f58848e493" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestAndDividendIncomeOperating_623d1e10-c4e7-6a0a-be2a-ef2b024027b6" xlink:to="loc_us-gaap_InterestIncomeDebtSecuritiesAvailableForSaleOperating_8b2e94d9-f7b0-66d2-9a11-21f58848e493" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestAndDividendIncomeSecuritiesHeldToMaturity" xlink:label="loc_us-gaap_InterestAndDividendIncomeSecuritiesHeldToMaturity_debe041b-cdd8-06d8-5c42-d4c402869de0" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestAndDividendIncomeOperating_623d1e10-c4e7-6a0a-be2a-ef2b024027b6" xlink:to="loc_us-gaap_InterestAndDividendIncomeSecuritiesHeldToMaturity_debe041b-cdd8-06d8-5c42-d4c402869de0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestIncomeDebtSecuritiesTradingOperating" xlink:label="loc_us-gaap_InterestIncomeDebtSecuritiesTradingOperating_47e35be9-8e4f-a0a3-2a1e-fad5e18f90b5" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestAndDividendIncomeOperating_623d1e10-c4e7-6a0a-be2a-ef2b024027b6" xlink:to="loc_us-gaap_InterestIncomeDebtSecuritiesTradingOperating_47e35be9-8e4f-a0a3-2a1e-fad5e18f90b5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestIncomeOperating" xlink:label="loc_us-gaap_InterestIncomeOperating_268a7620-ecf1-70b7-f29b-722cf7efdb1c" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestAndDividendIncomeOperating_623d1e10-c4e7-6a0a-be2a-ef2b024027b6" xlink:to="loc_us-gaap_InterestIncomeOperating_268a7620-ecf1-70b7-f29b-722cf7efdb1c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestIncomeOther" xlink:label="loc_us-gaap_InterestIncomeOther_fcba1b70-9744-b5e7-d3f6-0354ac274304" xlink:type="locator" />
    <link:calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestAndDividendIncomeOperating_623d1e10-c4e7-6a0a-be2a-ef2b024027b6" xlink:to="loc_us-gaap_InterestIncomeOther_fcba1b70-9744-b5e7-d3f6-0354ac274304" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_us-gaap_InterestExpense_16e9f6a6-5524-a7b1-7e7c-73ee97610ec6" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestIncomeExpenseNet_17d6fb00-d8ca-12a7-45aa-c9b702218c16" xlink:to="loc_us-gaap_InterestExpense_16e9f6a6-5524-a7b1-7e7c-73ee97610ec6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestExpenseDeposits" xlink:label="loc_us-gaap_InterestExpenseDeposits_165310ed-68a6-eee9-9a32-4739ef789790" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestExpense_16e9f6a6-5524-a7b1-7e7c-73ee97610ec6" xlink:to="loc_us-gaap_InterestExpenseDeposits_165310ed-68a6-eee9-9a32-4739ef789790" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestExpenseFederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchase" xlink:label="loc_us-gaap_InterestExpenseFederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchase_31c4a294-8b64-ae3d-6ca2-2b06b8b95bd8" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestExpense_16e9f6a6-5524-a7b1-7e7c-73ee97610ec6" xlink:to="loc_us-gaap_InterestExpenseFederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchase_31c4a294-8b64-ae3d-6ca2-2b06b8b95bd8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestExpenseShortTermBorrowingsExcludingFederalFundsAndSecuritiesSoldUnderAgreementsToRepurchase" xlink:label="loc_us-gaap_InterestExpenseShortTermBorrowingsExcludingFederalFundsAndSecuritiesSoldUnderAgreementsToRepurchase_f48a3922-311d-0cf3-2a2a-2f355ecbc950" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestExpense_16e9f6a6-5524-a7b1-7e7c-73ee97610ec6" xlink:to="loc_us-gaap_InterestExpenseShortTermBorrowingsExcludingFederalFundsAndSecuritiesSoldUnderAgreementsToRepurchase_f48a3922-311d-0cf3-2a2a-2f355ecbc950" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestExpenseLongTermDebt" xlink:label="loc_us-gaap_InterestExpenseLongTermDebt_77659a1d-5e89-4a8e-1e20-fa16a432d564" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestExpense_16e9f6a6-5524-a7b1-7e7c-73ee97610ec6" xlink:to="loc_us-gaap_InterestExpenseLongTermDebt_77659a1d-5e89-4a8e-1e20-fa16a432d564" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProvisionForLoanLeaseAndOtherLosses" xlink:label="loc_us-gaap_ProvisionForLoanLeaseAndOtherLosses_fb9b10b1-d4d8-bf51-0524-f2efda24b93a" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss_07ff5c90-0c78-bcc6-b6d9-b6f38c1f082c" xlink:to="loc_us-gaap_ProvisionForLoanLeaseAndOtherLosses_fb9b10b1-d4d8-bf51-0524-f2efda24b93a" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NoninterestIncome" xlink:label="loc_us-gaap_NoninterestIncome_315eb9df-a895-f713-c268-9c6813436750" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_489b61b6-7c39-240c-7f68-1c1675bca3b7" xlink:to="loc_us-gaap_NoninterestIncome_315eb9df-a895-f713-c268-9c6813436750" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_TrustAndInvestmentServicesIncome" xlink:label="loc_key_TrustAndInvestmentServicesIncome_df8d7488-16dc-26e5-9361-fc252c712b6e" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestIncome_315eb9df-a895-f713-c268-9c6813436750" xlink:to="loc_key_TrustAndInvestmentServicesIncome_df8d7488-16dc-26e5-9361-fc252c712b6e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InvestmentBankingAdvisoryBrokerageAndUnderwritingFeesAndCommissions" xlink:label="loc_us-gaap_InvestmentBankingAdvisoryBrokerageAndUnderwritingFeesAndCommissions_b8c4823b-01bd-aba4-8f8c-79c8b0384c36" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestIncome_315eb9df-a895-f713-c268-9c6813436750" xlink:to="loc_us-gaap_InvestmentBankingAdvisoryBrokerageAndUnderwritingFeesAndCommissions_b8c4823b-01bd-aba4-8f8c-79c8b0384c36" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_ServiceChargesOnDepositAccounts" xlink:label="loc_key_ServiceChargesOnDepositAccounts_98a90360-b291-f641-6eb4-fc252e211760" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestIncome_315eb9df-a895-f713-c268-9c6813436750" xlink:to="loc_key_ServiceChargesOnDepositAccounts_98a90360-b291-f641-6eb4-fc252e211760" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_OperatingLeaseIncomeAndOtherLeasingGains" xlink:label="loc_key_OperatingLeaseIncomeAndOtherLeasingGains_798ae6b2-ea3c-2aad-6339-fc2531a94748" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestIncome_315eb9df-a895-f713-c268-9c6813436750" xlink:to="loc_key_OperatingLeaseIncomeAndOtherLeasingGains_798ae6b2-ea3c-2aad-6339-fc2531a94748" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_BankingServicesIncome" xlink:label="loc_key_BankingServicesIncome_06e54436-53aa-bd90-bfe4-fc252dacc346" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestIncome_315eb9df-a895-f713-c268-9c6813436750" xlink:to="loc_key_BankingServicesIncome_06e54436-53aa-bd90-bfe4-fc252dacc346" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_CardsAndPaymentsIncome" xlink:label="loc_key_CardsAndPaymentsIncome_0385cc70-05d0-009a-2d16-fc252c9befe0" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestIncome_315eb9df-a895-f713-c268-9c6813436750" xlink:to="loc_key_CardsAndPaymentsIncome_0385cc70-05d0-009a-2d16-fc252c9befe0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BankOwnedLifeInsuranceIncome" xlink:label="loc_us-gaap_BankOwnedLifeInsuranceIncome_b0db8e95-59e2-832e-b060-b12e1ef5a20d" xlink:type="locator" />
    <link:calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestIncome_315eb9df-a895-f713-c268-9c6813436750" xlink:to="loc_us-gaap_BankOwnedLifeInsuranceIncome_b0db8e95-59e2-832e-b060-b12e1ef5a20d" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_ConsumerMortgageIncome" xlink:label="loc_key_ConsumerMortgageIncome_bcc10102-2ccc-3571-7cca-fc252fb15025" xlink:type="locator" />
    <link:calculationArc order="8" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestIncome_315eb9df-a895-f713-c268-9c6813436750" xlink:to="loc_key_ConsumerMortgageIncome_bcc10102-2ccc-3571-7cca-fc252fb15025" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FeesAndCommissionsMortgageBankingAndServicing" xlink:label="loc_us-gaap_FeesAndCommissionsMortgageBankingAndServicing_05f8bf50-7be3-2d60-b7f5-a52222986b4f" xlink:type="locator" />
    <link:calculationArc order="9" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestIncome_315eb9df-a895-f713-c268-9c6813436750" xlink:to="loc_us-gaap_FeesAndCommissionsMortgageBankingAndServicing_05f8bf50-7be3-2d60-b7f5-a52222986b4f" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NoninterestIncomeOther" xlink:label="loc_us-gaap_NoninterestIncomeOther_a569547c-68fb-5298-d5e4-8a37615412d5" xlink:type="locator" />
    <link:calculationArc order="10" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestIncome_315eb9df-a895-f713-c268-9c6813436750" xlink:to="loc_us-gaap_NoninterestIncomeOther_a569547c-68fb-5298-d5e4-8a37615412d5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NoninterestExpense" xlink:label="loc_us-gaap_NoninterestExpense_8e4fe756-aff6-3f3d-e18c-a95055b1a60d" xlink:type="locator" />
    <link:calculationArc order="3" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_489b61b6-7c39-240c-7f68-1c1675bca3b7" xlink:to="loc_us-gaap_NoninterestExpense_8e4fe756-aff6-3f3d-e18c-a95055b1a60d" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LaborAndRelatedExpense" xlink:label="loc_us-gaap_LaborAndRelatedExpense_9ce4ddd7-88de-0c7f-0c68-70aef9a19b78" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestExpense_8e4fe756-aff6-3f3d-e18c-a95055b1a60d" xlink:to="loc_us-gaap_LaborAndRelatedExpense_9ce4ddd7-88de-0c7f-0c68-70aef9a19b78" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OccupancyNet" xlink:label="loc_us-gaap_OccupancyNet_3000f1c9-7fde-3147-d630-3ce64c18aeb0" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestExpense_8e4fe756-aff6-3f3d-e18c-a95055b1a60d" xlink:to="loc_us-gaap_OccupancyNet_3000f1c9-7fde-3147-d630-3ce64c18aeb0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommunicationsAndInformationTechnology" xlink:label="loc_us-gaap_CommunicationsAndInformationTechnology_020cce2f-5fb8-a1ce-4ea5-cd82ffc7afcf" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestExpense_8e4fe756-aff6-3f3d-e18c-a95055b1a60d" xlink:to="loc_us-gaap_CommunicationsAndInformationTechnology_020cce2f-5fb8-a1ce-4ea5-cd82ffc7afcf" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProfessionalFees" xlink:label="loc_us-gaap_ProfessionalFees_af0691f4-7318-4564-f5f7-6ee97a28289e" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestExpense_8e4fe756-aff6-3f3d-e18c-a95055b1a60d" xlink:to="loc_us-gaap_ProfessionalFees_af0691f4-7318-4564-f5f7-6ee97a28289e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EquipmentExpense" xlink:label="loc_us-gaap_EquipmentExpense_47f95bb6-b09c-f951-db44-414df70c8914" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestExpense_8e4fe756-aff6-3f3d-e18c-a95055b1a60d" xlink:to="loc_us-gaap_EquipmentExpense_47f95bb6-b09c-f951-db44-414df70c8914" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LeaseAndRentalExpense" xlink:label="loc_us-gaap_LeaseAndRentalExpense_4ff4f2d7-6662-e810-4740-ec43000ee89c" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestExpense_8e4fe756-aff6-3f3d-e18c-a95055b1a60d" xlink:to="loc_us-gaap_LeaseAndRentalExpense_4ff4f2d7-6662-e810-4740-ec43000ee89c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_MarketingAndAdvertisingExpense" xlink:label="loc_us-gaap_MarketingAndAdvertisingExpense_4b203502-c432-6658-63a6-00b18bdfc0ab" xlink:type="locator" />
    <link:calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestExpense_8e4fe756-aff6-3f3d-e18c-a95055b1a60d" xlink:to="loc_us-gaap_MarketingAndAdvertisingExpense_4b203502-c432-6658-63a6-00b18bdfc0ab" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FederalDepositInsuranceCorporationPremiumExpense" xlink:label="loc_us-gaap_FederalDepositInsuranceCorporationPremiumExpense_1881d9c8-9cdb-d9e3-24dd-f7ad0474c849" xlink:type="locator" />
    <link:calculationArc order="8" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestExpense_8e4fe756-aff6-3f3d-e18c-a95055b1a60d" xlink:to="loc_us-gaap_FederalDepositInsuranceCorporationPremiumExpense_1881d9c8-9cdb-d9e3-24dd-f7ad0474c849" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="loc_us-gaap_AmortizationOfIntangibleAssets_725ae160-1b15-a075-fa62-729d0bc8cda1" xlink:type="locator" />
    <link:calculationArc order="9" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestExpense_8e4fe756-aff6-3f3d-e18c-a95055b1a60d" xlink:to="loc_us-gaap_AmortizationOfIntangibleAssets_725ae160-1b15-a075-fa62-729d0bc8cda1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateOwnedValuationAllowanceProvision1" xlink:label="loc_us-gaap_RealEstateOwnedValuationAllowanceProvision1_b7edbf4c-ab17-2c8e-cdf4-1d96a25a2d6f" xlink:type="locator" />
    <link:calculationArc order="10" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestExpense_8e4fe756-aff6-3f3d-e18c-a95055b1a60d" xlink:to="loc_us-gaap_RealEstateOwnedValuationAllowanceProvision1_b7edbf4c-ab17-2c8e-cdf4-1d96a25a2d6f" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherNoninterestExpense" xlink:label="loc_us-gaap_OtherNoninterestExpense_60e0cfc8-9d1d-c126-3203-c33be400af36" xlink:type="locator" />
    <link:calculationArc order="11" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NoninterestExpense_8e4fe756-aff6-3f3d-e18c-a95055b1a60d" xlink:to="loc_us-gaap_OtherNoninterestExpense_60e0cfc8-9d1d-c126-3203-c33be400af36" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_666ca9f0-28f1-b21a-025e-36222808a6c3" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_1f42c682-c9cf-1de0-1230-a353dc469675" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_666ca9f0-28f1-b21a-025e-36222808a6c3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax" xlink:label="loc_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax_9df24e1e-4f19-c5c7-c707-5fdac881a2b1" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_8b582348-a62e-cdfb-bc53-d5894b42e091" xlink:to="loc_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax_9df24e1e-4f19-c5c7-c707-5fdac881a2b1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_a3a6becb-cb5c-3f3c-51b9-6edd8011ed69" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_e170ce1e-c3a8-e8ee-88b0-37e8dd7b1d11" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_a3a6becb-cb5c-3f3c-51b9-6edd8011ed69" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_8c9389ea-1fbb-7e45-ce1f-5a1d89572c0d" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_fbdbb03d-8583-701f-d6e2-69f8229c6051" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_8c9389ea-1fbb-7e45-ce1f-5a1d89572c0d" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_fbdbb03d-8583-701f-d6e2-69f8229c6051" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToConversionOfPreferredStock" xlink:label="loc_us-gaap_IncrementalCommonSharesAttributableToConversionOfPreferredStock_66b8655a-eaa1-583e-8b3a-82ced964411d" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_8c9389ea-1fbb-7e45-ce1f-5a1d89572c0d" xlink:to="loc_us-gaap_IncrementalCommonSharesAttributableToConversionOfPreferredStock_66b8655a-eaa1-583e-8b3a-82ced964411d" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:label="loc_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_90854703-859b-2c45-aef2-d270627b3141" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_8c9389ea-1fbb-7e45-ce1f-5a1d89572c0d" xlink:to="loc_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_90854703-859b-2c45-aef2-d270627b3141" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="loc_us-gaap_EarningsPerShareDiluted_a0c542a3-925c-dbca-caae-b45f1a51036d" xlink:type="locator" />
    <link:loc xlink:href="key-20191231.xsd#key_IncomeLossFromContinuingOperationsAttributableToKeyCommonsShareholdersPerDilutedShare" xlink:label="loc_key_IncomeLossFromContinuingOperationsAttributableToKeyCommonsShareholdersPerDilutedShare_fce1d964-0d94-a3e0-2210-fc252cda678f" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EarningsPerShareDiluted_a0c542a3-925c-dbca-caae-b45f1a51036d" xlink:to="loc_key_IncomeLossFromContinuingOperationsAttributableToKeyCommonsShareholdersPerDilutedShare_fce1d964-0d94-a3e0-2210-fc252cda678f" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare" xlink:label="loc_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare_676e5c7d-beab-c0d8-be00-bb5a9211e90b" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EarningsPerShareDiluted_a0c542a3-925c-dbca-caae-b45f1a51036d" xlink:to="loc_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare_676e5c7d-beab-c0d8-be00-bb5a9211e90b" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="loc_us-gaap_EarningsPerShareBasic_43102e24-b009-a823-41c0-3a851b53c822" xlink:type="locator" />
    <link:loc xlink:href="key-20191231.xsd#key_IncomeLossFromContinuingOperationsAttributableToCommonsShareholdersPerBasicShare" xlink:label="loc_key_IncomeLossFromContinuingOperationsAttributableToCommonsShareholdersPerBasicShare_91751e28-2e29-e80b-4e35-fc252f00af10" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EarningsPerShareBasic_43102e24-b009-a823-41c0-3a851b53c822" xlink:to="loc_key_IncomeLossFromContinuingOperationsAttributableToCommonsShareholdersPerBasicShare_91751e28-2e29-e80b-4e35-fc252f00af10" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare" xlink:label="loc_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare_144f1196-7804-6573-e88d-e1f54b569762" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EarningsPerShareBasic_43102e24-b009-a823-41c0-3a851b53c822" xlink:to="loc_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare_144f1196-7804-6573-e88d-e1f54b569762" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/ConsolidatedStatementsOfIncomeParenthetical" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/CoverPage" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/DerivativesAndHedgingActivities" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/DerivativesAndHedgingActivitiesAdditionalInformationDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/DerivativesAndHedgingActivitiesCreditDerivativesSoldAndHeldDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/DerivativesAndHedgingActivitiesCreditRiskContingentFeatureDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/DerivativesAndHedgingActivitiesCumulativeBasisAdjustmentsOnFairValueHedgesDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/DerivativesAndHedgingActivitiesDerivativeInstrumentCashFlowHedgeEarningRecognizedByIncomeStatementLocationDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/DerivativesAndHedgingActivitiesEffectOfFairValueAndCashFlowHedgesOnIncomeDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings" xlink:label="loc_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings_6733c000-3881-0c39-ebd6-2b58572d4ccd" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1" xlink:label="loc_us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1_c643eef5-d0ba-a15a-2292-508b722c795e" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings_6733c000-3881-0c39-ebd6-2b58572d4ccd" xlink:to="loc_us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1_c643eef5-d0ba-a15a-2292-508b722c795e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1" xlink:label="loc_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_552ebe69-1d6c-3b84-bd59-c2e67f8e3317" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings_6733c000-3881-0c39-ebd6-2b58572d4ccd" xlink:to="loc_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_552ebe69-1d6c-3b84-bd59-c2e67f8e3317" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/DerivativesAndHedgingActivitiesFairValueOfDerivativeAssetsByTypeDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DerivativeAssets" xlink:label="loc_us-gaap_DerivativeAssets_05d1a9f5-40b5-5876-afca-b2b8e7f078c9" xlink:type="locator" />
    <link:loc xlink:href="key-20191231.xsd#key_DerivativeAssetsBeforeCashCollateral" xlink:label="loc_key_DerivativeAssetsBeforeCashCollateral_250b0763-f178-19e9-6677-fc252e0401f1" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeAssets_05d1a9f5-40b5-5876-afca-b2b8e7f078c9" xlink:to="loc_key_DerivativeAssetsBeforeCashCollateral_250b0763-f178-19e9-6677-fc252e0401f1" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_CashCollateralNettedAgainstDerivativeAssets" xlink:label="loc_key_CashCollateralNettedAgainstDerivativeAssets_172738d3-764c-dd8e-b6c4-fc252fe670e0" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeAssets_05d1a9f5-40b5-5876-afca-b2b8e7f078c9" xlink:to="loc_key_CashCollateralNettedAgainstDerivativeAssets_172738d3-764c-dd8e-b6c4-fc252fe670e0" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/DerivativesAndHedgingActivitiesFairValuesVolumeOfActivityAndGainLossInformationRelatedToDerivativeInstrumentsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/DerivativesAndHedgingActivitiesPreTaxNetGainsLossesOnDerivativesNotDesignatedAsHedgingInstrumentsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/DerivativesAndHedgingActivitiesTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/EarningsPerCommonShare" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/EarningsPerCommonShareBasicAndDilutedEarningsPerCommonShareDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_976d3954-a813-87e0-3f10-9f88f38c5886" xlink:type="locator" />
    <link:loc xlink:href="key-20191231.xsd#key_IncomeLossFromContinuingOperationsAttributableToKeyCommonShareholders" xlink:label="loc_key_IncomeLossFromContinuingOperationsAttributableToKeyCommonShareholders_2d8bcc30-62c3-6b8d-f5ca-fc25303f1d09" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_976d3954-a813-87e0-3f10-9f88f38c5886" xlink:to="loc_key_IncomeLossFromContinuingOperationsAttributableToKeyCommonShareholders_2d8bcc30-62c3-6b8d-f5ca-fc25303f1d09" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeLossFromContinuingOperations" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperations_b3925fb6-ca66-530c-ef66-cfcec5b7fe7d" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_IncomeLossFromContinuingOperationsAttributableToKeyCommonShareholders_2d8bcc30-62c3-6b8d-f5ca-fc25303f1d09" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperations_b3925fb6-ca66-530c-ef66-cfcec5b7fe7d" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_1f42c682-c9cf-1de0-1230-a353dc469675" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperations_b3925fb6-ca66-530c-ef66-cfcec5b7fe7d" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_1f42c682-c9cf-1de0-1230-a353dc469675" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_a3a6becb-cb5c-3f3c-51b9-6edd8011ed69" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperations_b3925fb6-ca66-530c-ef66-cfcec5b7fe7d" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_a3a6becb-cb5c-3f3c-51b9-6edd8011ed69" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DividendsPreferredStock" xlink:label="loc_us-gaap_DividendsPreferredStock_a5ebcdc8-ad67-164a-2266-36dfdab1b45b" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_IncomeLossFromContinuingOperationsAttributableToKeyCommonShareholders_2d8bcc30-62c3-6b8d-f5ca-fc25303f1d09" xlink:to="loc_us-gaap_DividendsPreferredStock_a5ebcdc8-ad67-164a-2266-36dfdab1b45b" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax" xlink:label="loc_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax_9df24e1e-4f19-c5c7-c707-5fdac881a2b1" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_976d3954-a813-87e0-3f10-9f88f38c5886" xlink:to="loc_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax_9df24e1e-4f19-c5c7-c707-5fdac881a2b1" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/EarningsPerCommonShareTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefits" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsAssetTargetAllocationsPrescribedByPensionFundsInvestmentPoliciesDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsAssetTargetAllocationsPrescribedByTrustsInvestmentPoliciesDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsChangeInFvaOtherPostRetirementBenefitPlanAssetsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsChangesInApboDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsChangesInFvaDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsChangesInPboRelatedToPensionPlansDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsFairValuesOfPensionPlanAssetsByAssetCategoryDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsFairValuesOfPostretirementPlanAssetsByAssetCategoryDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsFundedStatusOfPensionPlansRecognizedInBalanceSheetsDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent" xlink:label="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent_05923952-3428-ded6-0d76-2e7d3f78c52b" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities" xlink:label="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities_9cc42d15-a7a0-2267-301d-4a46d802a1f2" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent_05923952-3428-ded6-0d76-2e7d3f78c52b" xlink:to="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities_9cc42d15-a7a0-2267-301d-4a46d802a1f2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent" xlink:label="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent_540758d9-5c85-d758-1cf1-4856b8f457a3" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent_05923952-3428-ded6-0d76-2e7d3f78c52b" xlink:to="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent_540758d9-5c85-d758-1cf1-4856b8f457a3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent" xlink:label="loc_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_67fc7f3e-d62f-b42a-5539-a726e48a9426" xlink:type="locator" />
    <link:calculationArc order="3" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent_05923952-3428-ded6-0d76-2e7d3f78c52b" xlink:to="loc_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_67fc7f3e-d62f-b42a-5539-a726e48a9426" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsFundedStatusOfPostretirementPlansRecognizedInBalanceSheetsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsNetPensionCostAndAmountRecognizedInOciForAllFundedAndUnfundedPlansDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost" xlink:label="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_d77fe029-f23f-9e6c-6011-e5f759449bed" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DefinedBenefitPlanInterestCost" xlink:label="loc_us-gaap_DefinedBenefitPlanInterestCost_08bfb8dd-9b96-b2df-e96d-3661802234df" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_d77fe029-f23f-9e6c-6011-e5f759449bed" xlink:to="loc_us-gaap_DefinedBenefitPlanInterestCost_08bfb8dd-9b96-b2df-e96d-3661802234df" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_65f7f8a8-89d5-6dc6-d223-452e554561e4" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_d77fe029-f23f-9e6c-6011-e5f759449bed" xlink:to="loc_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_65f7f8a8-89d5-6dc6-d223-452e554561e4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses" xlink:label="loc_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses_0d8fe3ab-8638-f17a-d512-2baaf0d8fce2" xlink:type="locator" />
    <link:calculationArc order="3" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_d77fe029-f23f-9e6c-6011-e5f759449bed" xlink:to="loc_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses_0d8fe3ab-8638-f17a-d512-2baaf0d8fce2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1" xlink:label="loc_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1_f4ed49f6-0d68-1230-9ef2-0995b2444b8a" xlink:type="locator" />
    <link:calculationArc order="4" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_d77fe029-f23f-9e6c-6011-e5f759449bed" xlink:to="loc_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1_f4ed49f6-0d68-1230-9ef2-0995b2444b8a" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsNetPostretirementBenefitCostAndAmountRecognizedInOciForAllFundedAndUnfundedPlansDetails" xlink:type="extended">
    <link:loc xlink:href="key-20191231.xsd#key_OtherComprehensiveIncomeRecognizedInComprehensiveIncomeRecognizedInNetPeriodicBenefitCostBeforeTax" xlink:label="loc_key_OtherComprehensiveIncomeRecognizedInComprehensiveIncomeRecognizedInNetPeriodicBenefitCostBeforeTax_e1c5a85c-6b55-24de-acc6-9418c4e398ba" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossNetGainLossBeforeTax" xlink:label="loc_us-gaap_DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossNetGainLossBeforeTax_adf09d76-94f3-79db-449c-2c51cd08c316" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_OtherComprehensiveIncomeRecognizedInComprehensiveIncomeRecognizedInNetPeriodicBenefitCostBeforeTax_e1c5a85c-6b55-24de-acc6-9418c4e398ba" xlink:to="loc_us-gaap_DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossNetGainLossBeforeTax_adf09d76-94f3-79db-449c-2c51cd08c316" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlanNetPriorServiceCostCreditRecognizedInNetPeriodicBenefitCostCostOfGoodsSoldBeforeTax" xlink:label="loc_key_OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlanNetPriorServiceCostCreditRecognizedInNetPeriodicBenefitCostCostOfGoodsSoldBeforeTax_67723f3c-cf46-43c6-598d-9418c22f3e45" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_OtherComprehensiveIncomeRecognizedInComprehensiveIncomeRecognizedInNetPeriodicBenefitCostBeforeTax_e1c5a85c-6b55-24de-acc6-9418c4e398ba" xlink:to="loc_key_OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlanNetPriorServiceCostCreditRecognizedInNetPeriodicBenefitCostCostOfGoodsSoldBeforeTax_67723f3c-cf46-43c6-598d-9418c22f3e45" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_DefinedBenefitPlanAmortizationOfNetGainsLossesOCI" xlink:label="loc_key_DefinedBenefitPlanAmortizationOfNetGainsLossesOCI_fd2ddf70-f5d5-c91d-9dc4-9418bf28c070" xlink:type="locator" />
    <link:calculationArc order="3" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_OtherComprehensiveIncomeRecognizedInComprehensiveIncomeRecognizedInNetPeriodicBenefitCostBeforeTax_e1c5a85c-6b55-24de-acc6-9418c4e398ba" xlink:to="loc_key_DefinedBenefitPlanAmortizationOfNetGainsLossesOCI_fd2ddf70-f5d5-c91d-9dc4-9418bf28c070" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost" xlink:label="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_d77fe029-f23f-9e6c-6011-e5f759449bed" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DefinedBenefitPlanServiceCost" xlink:label="loc_us-gaap_DefinedBenefitPlanServiceCost_e14243b3-33a1-5459-a451-077ec8d3f8e3" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_d77fe029-f23f-9e6c-6011-e5f759449bed" xlink:to="loc_us-gaap_DefinedBenefitPlanServiceCost_e14243b3-33a1-5459-a451-077ec8d3f8e3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DefinedBenefitPlanInterestCost" xlink:label="loc_us-gaap_DefinedBenefitPlanInterestCost_08bfb8dd-9b96-b2df-e96d-3661802234df" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_d77fe029-f23f-9e6c-6011-e5f759449bed" xlink:to="loc_us-gaap_DefinedBenefitPlanInterestCost_08bfb8dd-9b96-b2df-e96d-3661802234df" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_65f7f8a8-89d5-6dc6-d223-452e554561e4" xlink:type="locator" />
    <link:calculationArc order="3" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_d77fe029-f23f-9e6c-6011-e5f759449bed" xlink:to="loc_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_65f7f8a8-89d5-6dc6-d223-452e554561e4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit" xlink:label="loc_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit_6bc5232c-ca32-47e4-f9fd-2a89043cd46b" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_d77fe029-f23f-9e6c-6011-e5f759449bed" xlink:to="loc_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit_6bc5232c-ca32-47e4-f9fd-2a89043cd46b" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses" xlink:label="loc_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses_0d8fe3ab-8638-f17a-d512-2baaf0d8fce2" xlink:type="locator" />
    <link:calculationArc order="5" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_d77fe029-f23f-9e6c-6011-e5f759449bed" xlink:to="loc_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses_0d8fe3ab-8638-f17a-d512-2baaf0d8fce2" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsPlansAboInExcessOfPlanAssetsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsPreTaxAociNotYetRecognizedAsNetPostretirementBenefitCostDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax" xlink:label="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax_c6c723d7-e9d1-db70-b81f-a29b45af6851" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax" xlink:label="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax_950e2000-4fae-d7e6-7286-3e38afff2fa4" xlink:type="locator" />
    <link:calculationArc order="1" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax_c6c723d7-e9d1-db70-b81f-a29b45af6851" xlink:to="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax_950e2000-4fae-d7e6-7286-3e38afff2fa4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax" xlink:label="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax_19b45600-146a-9c95-acaf-000acfa3ba0d" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax_c6c723d7-e9d1-db70-b81f-a29b45af6851" xlink:to="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax_19b45600-146a-9c95-acaf-000acfa3ba0d" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsWeightedAverageRatesToDetermineActuarialPresentValueOfBenefitObligationsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsWeightedAverageRatesToDetermineNetPensionCostDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/EmployeeBenefitsWeightedAverageRatesToDetermineNetPostretirementBenefitCostDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/FairValueMeasurements" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/FairValueMeasurementsAdditionalInformationDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/FairValueMeasurementsAssetsAndLiabilitiesMeasuredAtFairValueOnNonrecurringBasisDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="loc_us-gaap_AssetsFairValueDisclosure_a0a5801b-c8ce-1793-dd5f-edbcde4cc5a3" xlink:type="locator" />
    <link:loc xlink:href="key-20191231.xsd#key_ImpairedLoansFairValueDisclosure" xlink:label="loc_key_ImpairedLoansFairValueDisclosure_97d96a7d-da3b-065e-27b2-fc252dd18e6d" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsFairValueDisclosure_a0a5801b-c8ce-1793-dd5f-edbcde4cc5a3" xlink:to="loc_key_ImpairedLoansFairValueDisclosure_97d96a7d-da3b-065e-27b2-fc252dd18e6d" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherAssetsFairValueDisclosure" xlink:label="loc_us-gaap_OtherAssetsFairValueDisclosure_bf280f65-0fc4-55e7-c250-2c52c36331f3" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsFairValueDisclosure_a0a5801b-c8ce-1793-dd5f-edbcde4cc5a3" xlink:to="loc_us-gaap_OtherAssetsFairValueDisclosure_bf280f65-0fc4-55e7-c250-2c52c36331f3" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/FairValueMeasurementsChangeInFairValuesOfLevel3FinancialInstrumentsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/FairValueMeasurementsFairValueDisclosuresOfFinancialInstrumentsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/FairValueMeasurementsFairValueOfAssetsAndLiabilitiesMeasuredOnRecurringBasisDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosure" xlink:label="loc_us-gaap_LiabilitiesFairValueDisclosure_d2b58163-9b70-93d8-8da6-4d47d94fdd3f" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeLiability" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeLiability_0078bdbb-290f-5ef0-62d2-056ec95a2492" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesFairValueDisclosure_d2b58163-9b70-93d8-8da6-4d47d94fdd3f" xlink:to="loc_us-gaap_DerivativeFairValueOfDerivativeLiability_0078bdbb-290f-5ef0-62d2-056ec95a2492" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DerivativeLiabilities" xlink:label="loc_us-gaap_DerivativeLiabilities_c498d065-e002-c8b0-aba8-6aaec8302ba7" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesFairValueDisclosure_d2b58163-9b70-93d8-8da6-4d47d94fdd3f" xlink:to="loc_us-gaap_DerivativeLiabilities_c498d065-e002-c8b0-aba8-6aaec8302ba7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DerivativeLiabilityCollateralRightToReclaimCashOffset" xlink:label="loc_us-gaap_DerivativeLiabilityCollateralRightToReclaimCashOffset_8a9ac5d9-0075-eee6-1f2a-29bb0ac1a3cd" xlink:type="locator" />
    <link:calculationArc order="1" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeLiabilities_c498d065-e002-c8b0-aba8-6aaec8302ba7" xlink:to="loc_us-gaap_DerivativeLiabilityCollateralRightToReclaimCashOffset_8a9ac5d9-0075-eee6-1f2a-29bb0ac1a3cd" xlink:type="arc" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeLiabilities_c498d065-e002-c8b0-aba8-6aaec8302ba7" xlink:to="loc_us-gaap_DerivativeFairValueOfDerivativeLiability_0078bdbb-290f-5ef0-62d2-056ec95a2492" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_BankNotesAndOtherShorttermBorrowingsFairValue" xlink:label="loc_key_BankNotesAndOtherShorttermBorrowingsFairValue_9093e380-d9ce-3b2f-a5ec-fc253024df46" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesFairValueDisclosure_d2b58163-9b70-93d8-8da6-4d47d94fdd3f" xlink:to="loc_key_BankNotesAndOtherShorttermBorrowingsFairValue_9093e380-d9ce-3b2f-a5ec-fc253024df46" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="loc_us-gaap_AssetsFairValueDisclosure_a0a5801b-c8ce-1793-dd5f-edbcde4cc5a3" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DerivativeAssets" xlink:label="loc_us-gaap_DerivativeAssets_05d1a9f5-40b5-5876-afca-b2b8e7f078c9" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsFairValueDisclosure_a0a5801b-c8ce-1793-dd5f-edbcde4cc5a3" xlink:to="loc_us-gaap_DerivativeAssets_05d1a9f5-40b5-5876-afca-b2b8e7f078c9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeAsset" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeAsset_6cb66114-bf63-d028-2d01-3d66f917fa7d" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeAssets_05d1a9f5-40b5-5876-afca-b2b8e7f078c9" xlink:to="loc_us-gaap_DerivativeFairValueOfDerivativeAsset_6cb66114-bf63-d028-2d01-3d66f917fa7d" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DerivativeAssetCollateralObligationToReturnCashOffset" xlink:label="loc_us-gaap_DerivativeAssetCollateralObligationToReturnCashOffset_9a8909a1-c74a-e507-3adf-faff5bb0bf79" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeAssets_05d1a9f5-40b5-5876-afca-b2b8e7f078c9" xlink:to="loc_us-gaap_DerivativeAssetCollateralObligationToReturnCashOffset_9a8909a1-c74a-e507-3adf-faff5bb0bf79" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_TradingAccountsAsset" xlink:label="loc_key_TradingAccountsAsset_a926d2eb-13d1-0063-10e6-fc2530006949" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsFairValueDisclosure_a0a5801b-c8ce-1793-dd5f-edbcde4cc5a3" xlink:to="loc_key_TradingAccountsAsset_a926d2eb-13d1-0063-10e6-fc2530006949" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecurities" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_e562c48b-3e99-2c57-8e96-c3b81056b58c" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsFairValueDisclosure_a0a5801b-c8ce-1793-dd5f-edbcde4cc5a3" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_e562c48b-3e99-2c57-8e96-c3b81056b58c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AlternativeInvestment" xlink:label="loc_us-gaap_AlternativeInvestment_339c80fa-d353-52a3-01d1-2bf9595a6c6e" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsFairValueDisclosure_a0a5801b-c8ce-1793-dd5f-edbcde4cc5a3" xlink:to="loc_us-gaap_AlternativeInvestment_339c80fa-d353-52a3-01d1-2bf9595a6c6e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LoansHeldForSaleFairValueDisclosure" xlink:label="loc_us-gaap_LoansHeldForSaleFairValueDisclosure_2110cd72-3969-f740-02d5-90db5945b74c" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsFairValueDisclosure_a0a5801b-c8ce-1793-dd5f-edbcde4cc5a3" xlink:to="loc_us-gaap_LoansHeldForSaleFairValueDisclosure_2110cd72-3969-f740-02d5-90db5945b74c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome" xlink:label="loc_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_cc5c1006-c22a-97e2-a6fb-a77bbc2c7a79" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsFairValueDisclosure_a0a5801b-c8ce-1793-dd5f-edbcde4cc5a3" xlink:to="loc_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_cc5c1006-c22a-97e2-a6fb-a77bbc2c7a79" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/FairValueMeasurementsFairValueOfDirectAndIndirectInvestmentsRelatedUnfundedCommitmentsAndFinancialSupportProvidedDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/FairValueMeasurementsQuantitativeInformationAboutLevel3FairValueMeasurementsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/FairValueMeasurementsTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/GoodwillAndOtherIntangibleAssets" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/GoodwillAndOtherIntangibleAssetsChangesInCarryingAmountOfGoodwillDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/GoodwillAndOtherIntangibleAssetsFutureAmortizationExpenseOfFiniteLivedIntangibleAssetsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/GoodwillAndOtherIntangibleAssetsGrossCarryingAmountAndAccumulatedAmortizationOfIntangibleAssetsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/GoodwillAndOtherIntangibleAssetsNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/GoodwillAndOtherIntangibleAssetsTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/IncomeTaxes" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/IncomeTaxesChangeInLiabilityForUnrecognizedTaxBenefitsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/IncomeTaxesIncomeTaxesIncludedInIncomeStatementDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_666ca9f0-28f1-b21a-025e-36222808a6c3" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_ad87dc87-7206-5d76-a1ae-6cecdf90521c" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_666ca9f0-28f1-b21a-025e-36222808a6c3" xlink:to="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_ad87dc87-7206-5d76-a1ae-6cecdf90521c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CurrentFederalTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentFederalTaxExpenseBenefit_1007d9fe-6d83-c6c6-eef9-c29803b14ec7" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_ad87dc87-7206-5d76-a1ae-6cecdf90521c" xlink:to="loc_us-gaap_CurrentFederalTaxExpenseBenefit_1007d9fe-6d83-c6c6-eef9-c29803b14ec7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_7f37ab3b-992e-e1ba-f578-2c503524d7e4" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_ad87dc87-7206-5d76-a1ae-6cecdf90521c" xlink:to="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_7f37ab3b-992e-e1ba-f578-2c503524d7e4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_3421bed6-296e-da4e-f0e9-a2a8fa1f6d19" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_666ca9f0-28f1-b21a-025e-36222808a6c3" xlink:to="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_3421bed6-296e-da4e-f0e9-a2a8fa1f6d19" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_db02e614-93e7-eddf-abe0-a58cca48e685" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_3421bed6-296e-da4e-f0e9-a2a8fa1f6d19" xlink:to="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_db02e614-93e7-eddf-abe0-a58cca48e685" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_ca5c17e6-16a0-bee8-1413-d316d82a8942" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_3421bed6-296e-da4e-f0e9-a2a8fa1f6d19" xlink:to="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_ca5c17e6-16a0-bee8-1413-d316d82a8942" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/IncomeTaxesNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/IncomeTaxesSignificantComponentsOfDeferredTaxAssetsAndLiabilitiesIncludedInAccruedIncomeAndOtherAssetsAndAccruedExpenseAndOtherLiabilitiesDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxLiabilities" xlink:label="loc_us-gaap_DeferredTaxLiabilities_f31cb66e-0de8-54fb-4788-53b3cde0ec2f" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsNet" xlink:label="loc_us-gaap_DeferredTaxAssetsNet_e6f5d9f5-2430-5e17-896c-5e4d69815366" xlink:type="locator" />
    <link:calculationArc order="1" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxLiabilities_f31cb66e-0de8-54fb-4788-53b3cde0ec2f" xlink:to="loc_us-gaap_DeferredTaxAssetsNet_e6f5d9f5-2430-5e17-896c-5e4d69815366" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsGross" xlink:label="loc_us-gaap_DeferredTaxAssetsGross_e54f6543-25d5-ceb9-ff71-ca6ba1b37623" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_e6f5d9f5-2430-5e17-896c-5e4d69815366" xlink:to="loc_us-gaap_DeferredTaxAssetsGross_e54f6543-25d5-ceb9-ff71-ca6ba1b37623" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses_fe21be56-1913-e3d4-d726-e782af57be73" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_e54f6543-25d5-ceb9-ff71-ca6ba1b37623" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses_fe21be56-1913-e3d4-d726-e782af57be73" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBenefits" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBenefits_9448801d-0ed4-ffaa-b87b-19d6c55aba31" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_e54f6543-25d5-ceb9-ff71-ca6ba1b37623" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBenefits_9448801d-0ed4-ffaa-b87b-19d6c55aba31" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsUnrealizedLossesOnTradingSecurities" xlink:label="loc_us-gaap_DeferredTaxAssetsUnrealizedLossesOnTradingSecurities_9ba0a015-c223-1885-b484-764088822331" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_e54f6543-25d5-ceb9-ff71-ca6ba1b37623" xlink:to="loc_us-gaap_DeferredTaxAssetsUnrealizedLossesOnTradingSecurities_9ba0a015-c223-1885-b484-764088822331" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsTaxCreditCarryforwards" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxCreditCarryforwards_9fd2e560-0aac-aea4-6be8-8b4e4e77d184" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_e54f6543-25d5-ceb9-ff71-ca6ba1b37623" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxCreditCarryforwards_9fd2e560-0aac-aea4-6be8-8b4e4e77d184" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsLossReserves" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsLossReserves_d0def9d8-e2fd-64fa-c89f-9ede69e4bb98" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_e54f6543-25d5-ceb9-ff71-ca6ba1b37623" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsLossReserves_d0def9d8-e2fd-64fa-c89f-9ede69e4bb98" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsOther" xlink:label="loc_us-gaap_DeferredTaxAssetsOther_a87b79d6-1ed8-a71d-1843-5c0769713f28" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_e54f6543-25d5-ceb9-ff71-ca6ba1b37623" xlink:to="loc_us-gaap_DeferredTaxAssetsOther_a87b79d6-1ed8-a71d-1843-5c0769713f28" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals_311877e3-ddab-5060-3fa3-c2d917a0d5a1" xlink:type="locator" />
    <link:calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_e54f6543-25d5-ceb9-ff71-ca6ba1b37623" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals_311877e3-ddab-5060-3fa3-c2d917a0d5a1" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_DeferredTaxAssetsFairValueAdjustments" xlink:label="loc_key_DeferredTaxAssetsFairValueAdjustments_69150a8d-47f2-02ea-61d1-9418be7d3d9b" xlink:type="locator" />
    <link:calculationArc order="8" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_e54f6543-25d5-ceb9-ff71-ca6ba1b37623" xlink:to="loc_key_DeferredTaxAssetsFairValueAdjustments_69150a8d-47f2-02ea-61d1-9418be7d3d9b" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_DeferredTaxAssetsTaxDeferredExpenseOperatingLeaseLiabilities" xlink:label="loc_key_DeferredTaxAssetsTaxDeferredExpenseOperatingLeaseLiabilities_6791CED811EAF5B61A1A454A633995FB" xlink:type="locator" />
    <link:calculationArc order="9" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_e54f6543-25d5-ceb9-ff71-ca6ba1b37623" xlink:to="loc_key_DeferredTaxAssetsTaxDeferredExpenseOperatingLeaseLiabilities_6791CED811EAF5B61A1A454A633995FB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsValuationAllowance" xlink:label="loc_us-gaap_DeferredTaxAssetsValuationAllowance_55b78dfc-faa8-3c71-752a-e6857318d516" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_e6f5d9f5-2430-5e17-896c-5e4d69815366" xlink:to="loc_us-gaap_DeferredTaxAssetsValuationAllowance_55b78dfc-faa8-3c71-752a-e6857318d516" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilities" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilities_15e17ec2-d527-455f-b2cd-0be7f92a9fd5" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxLiabilities_f31cb66e-0de8-54fb-4788-53b3cde0ec2f" xlink:to="loc_us-gaap_DeferredIncomeTaxLiabilities_15e17ec2-d527-455f-b2cd-0be7f92a9fd5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxLiabilitiesLeasingArrangements" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesLeasingArrangements_e577292a-42b5-1be6-5996-8a37e2ebd0b2" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_15e17ec2-d527-455f-b2cd-0be7f92a9fd5" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesLeasingArrangements_e577292a-42b5-1be6-5996-8a37e2ebd0b2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxLiabilitiesUnrealizedGainsOnTradingSecurities" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesUnrealizedGainsOnTradingSecurities_425d23e0-1d6b-e3b7-d3b7-1dba342060f4" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_15e17ec2-d527-455f-b2cd-0be7f92a9fd5" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesUnrealizedGainsOnTradingSecurities_425d23e0-1d6b-e3b7-d3b7-1dba342060f4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxLiabilitiesOther" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesOther_4c5a1085-469a-cd6c-e26f-53287b62aa26" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_15e17ec2-d527-455f-b2cd-0be7f92a9fd5" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesOther_4c5a1085-469a-cd6c-e26f-53287b62aa26" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_DeferredTaxLiabilitiesOperatingLeaseRightOfUseAssets" xlink:label="loc_key_DeferredTaxLiabilitiesOperatingLeaseRightOfUseAssets_6285A1373943D92E0519454BED7656DE" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_15e17ec2-d527-455f-b2cd-0be7f92a9fd5" xlink:to="loc_key_DeferredTaxLiabilitiesOperatingLeaseRightOfUseAssets_6285A1373943D92E0519454BED7656DE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:label="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_0bdbea13-bfd8-228d-43ea-fae0c1330aaa" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_0bdbea13-bfd8-228d-43ea-fae0c1330aaa" xlink:to="loc_us-gaap_DeferredTaxAssetsNet_e6f5d9f5-2430-5e17-896c-5e4d69815366" xlink:type="arc" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_0bdbea13-bfd8-228d-43ea-fae0c1330aaa" xlink:to="loc_us-gaap_DeferredIncomeTaxLiabilities_15e17ec2-d527-455f-b2cd-0be7f92a9fd5" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/IncomeTaxesTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/IncomeTaxesTotalIncomeTaxExpenseBenefitAndResultingEffectiveTaxRateDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_aa9fb8cf-e50d-6d5b-0236-a084fee29894" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_5ef0c8c5-04c5-1c10-a59e-3eaa9cf923b4" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_aa9fb8cf-e50d-6d5b-0236-a084fee29894" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_5ef0c8c5-04c5-1c10-a59e-3eaa9cf923b4" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_EffectiveIncomeTaxRateReconciliationAmortizationOfTaxAdvantagedInvestments" xlink:label="loc_key_EffectiveIncomeTaxRateReconciliationAmortizationOfTaxAdvantagedInvestments_297841a9-9868-cb0b-81bc-9418bd015f11" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_aa9fb8cf-e50d-6d5b-0236-a084fee29894" xlink:to="loc_key_EffectiveIncomeTaxRateReconciliationAmortizationOfTaxAdvantagedInvestments_297841a9-9868-cb0b-81bc-9418bd015f11" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_IncomeTaxRateReconciliationForeignTaxAdjustments" xlink:label="loc_key_IncomeTaxRateReconciliationForeignTaxAdjustments_c52fd1f6-9713-fba8-b107-9418bebd5a0f" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_aa9fb8cf-e50d-6d5b-0236-a084fee29894" xlink:to="loc_key_IncomeTaxRateReconciliationForeignTaxAdjustments_c52fd1f6-9713-fba8-b107-9418bebd5a0f" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_EffectiveIncomeTaxRateReconciliationTaxExemptInterestIncome" xlink:label="loc_key_EffectiveIncomeTaxRateReconciliationTaxExemptInterestIncome_2e85c721-4378-c73d-69ae-9418bf74c2cb" xlink:type="locator" />
    <link:calculationArc order="4" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_aa9fb8cf-e50d-6d5b-0236-a084fee29894" xlink:to="loc_key_EffectiveIncomeTaxRateReconciliationTaxExemptInterestIncome_2e85c721-4378-c73d-69ae-9418bf74c2cb" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_EffectiveIncomeTaxRateReconciliationCorporateOwnedLifeInsuranceIncome" xlink:label="loc_key_EffectiveIncomeTaxRateReconciliationCorporateOwnedLifeInsuranceIncome_59bb1fa1-b57d-1640-74b3-9418bcf12609" xlink:type="locator" />
    <link:calculationArc order="5" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_aa9fb8cf-e50d-6d5b-0236-a084fee29894" xlink:to="loc_key_EffectiveIncomeTaxRateReconciliationCorporateOwnedLifeInsuranceIncome_59bb1fa1-b57d-1640-74b3-9418bcf12609" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_fa285cf0-c43f-6ef0-a0f2-c37d958f2fe4" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_aa9fb8cf-e50d-6d5b-0236-a084fee29894" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_fa285cf0-c43f-6ef0-a0f2-c37d958f2fe4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits_760e1cd1-b180-e0c4-17a8-eef24284a1cb" xlink:type="locator" />
    <link:calculationArc order="7" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_aa9fb8cf-e50d-6d5b-0236-a084fee29894" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits_760e1cd1-b180-e0c4-17a8-eef24284a1cb" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_c16a0eb3-02da-6ea0-91e7-3203372f71fd" xlink:type="locator" />
    <link:calculationArc order="8" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_aa9fb8cf-e50d-6d5b-0236-a084fee29894" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_c16a0eb3-02da-6ea0-91e7-3203372f71fd" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationTaxCutsAndJobsActOf2017Percent" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCutsAndJobsActOf2017Percent_ac4a8ca9-af9a-dc39-4649-ff7e9d7dc935" xlink:type="locator" />
    <link:calculationArc order="9" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_aa9fb8cf-e50d-6d5b-0236-a084fee29894" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCutsAndJobsActOf2017Percent_ac4a8ca9-af9a-dc39-4649-ff7e9d7dc935" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_666ca9f0-28f1-b21a-025e-36222808a6c3" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:label="loc_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_7c7e16b8-0aa9-c1c4-f1b1-272374ca83dc" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_666ca9f0-28f1-b21a-025e-36222808a6c3" xlink:to="loc_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_7c7e16b8-0aa9-c1c4-f1b1-272374ca83dc" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_IncomeTaxReconciliationAmortizationOfTaxAdvantagedInvestments" xlink:label="loc_key_IncomeTaxReconciliationAmortizationOfTaxAdvantagedInvestments_5d102383-3de0-8847-68f3-9418c4ec75c0" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_666ca9f0-28f1-b21a-025e-36222808a6c3" xlink:to="loc_key_IncomeTaxReconciliationAmortizationOfTaxAdvantagedInvestments_5d102383-3de0-8847-68f3-9418c4ec75c0" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_IncomeTaxReconciliationForeignTaxAdjustments" xlink:label="loc_key_IncomeTaxReconciliationForeignTaxAdjustments_88686465-dcc8-f66e-b321-9418bd2435ea" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_666ca9f0-28f1-b21a-025e-36222808a6c3" xlink:to="loc_key_IncomeTaxReconciliationForeignTaxAdjustments_88686465-dcc8-f66e-b321-9418bd2435ea" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_IncomeTaxReconciliationTaxExemptInterestIncome" xlink:label="loc_key_IncomeTaxReconciliationTaxExemptInterestIncome_48d009c9-cb02-c4cc-b3a7-9418bd0badd3" xlink:type="locator" />
    <link:calculationArc order="4" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_666ca9f0-28f1-b21a-025e-36222808a6c3" xlink:to="loc_key_IncomeTaxReconciliationTaxExemptInterestIncome_48d009c9-cb02-c4cc-b3a7-9418bd0badd3" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_IncomeTaxReconciliationCorporateOwnedLifeInsuranceIncome" xlink:label="loc_key_IncomeTaxReconciliationCorporateOwnedLifeInsuranceIncome_b272fa3e-e773-4f4c-dc02-9418bdc20244" xlink:type="locator" />
    <link:calculationArc order="5" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_666ca9f0-28f1-b21a-025e-36222808a6c3" xlink:to="loc_key_IncomeTaxReconciliationCorporateOwnedLifeInsuranceIncome_b272fa3e-e773-4f4c-dc02-9418bdc20244" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" xlink:label="loc_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_f57a32ed-0dd0-7e89-043f-8fdc81833b87" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_666ca9f0-28f1-b21a-025e-36222808a6c3" xlink:to="loc_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_f57a32ed-0dd0-7e89-043f-8fdc81833b87" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxReconciliationTaxCredits" xlink:label="loc_us-gaap_IncomeTaxReconciliationTaxCredits_c4fdeb46-4aee-508e-a0bc-a3b116ae2542" xlink:type="locator" />
    <link:calculationArc order="7" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_666ca9f0-28f1-b21a-025e-36222808a6c3" xlink:to="loc_us-gaap_IncomeTaxReconciliationTaxCredits_c4fdeb46-4aee-508e-a0bc-a3b116ae2542" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxReconciliationOtherAdjustments" xlink:label="loc_us-gaap_IncomeTaxReconciliationOtherAdjustments_49a08e86-47b2-01fa-94cc-0320e102ec63" xlink:type="locator" />
    <link:calculationArc order="8" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_666ca9f0-28f1-b21a-025e-36222808a6c3" xlink:to="loc_us-gaap_IncomeTaxReconciliationOtherAdjustments_49a08e86-47b2-01fa-94cc-0320e102ec63" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationTaxCutsAndJobsActOf2017Amount" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCutsAndJobsActOf2017Amount_967768e1-37b4-8efc-6da1-2719af0cb8d8" xlink:type="locator" />
    <link:calculationArc order="9" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_666ca9f0-28f1-b21a-025e-36222808a6c3" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCutsAndJobsActOf2017Amount_967768e1-37b4-8efc-6da1-2719af0cb8d8" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/Leases" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/LeasesComponentsOfEquipmentLeasingIncomeDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LeaseIncome" xlink:label="loc_us-gaap_LeaseIncome_35e7cea0-2d82-6f21-fde7-ae4f1b0472dc" xlink:type="locator" />
    <link:loc xlink:href="key-20191231.xsd#key_SalesTypeAndDirectFinancingLeaseLeaseIncome" xlink:label="loc_key_SalesTypeAndDirectFinancingLeaseLeaseIncome_aa521a6e-7d83-1e57-9318-fc252ed0c000" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LeaseIncome_35e7cea0-2d82-6f21-fde7-ae4f1b0472dc" xlink:to="loc_key_SalesTypeAndDirectFinancingLeaseLeaseIncome_aa521a6e-7d83-1e57-9318-fc252ed0c000" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SalesTypeLeaseInterestIncomeLeaseReceivable" xlink:label="loc_us-gaap_SalesTypeLeaseInterestIncomeLeaseReceivable_441c77d4-a537-328e-2a03-39aa3a5de498" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_SalesTypeAndDirectFinancingLeaseLeaseIncome_aa521a6e-7d83-1e57-9318-fc252ed0c000" xlink:to="loc_us-gaap_SalesTypeLeaseInterestIncomeLeaseReceivable_441c77d4-a537-328e-2a03-39aa3a5de498" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SalesTypeLeaseInterestIncomeUnguaranteedResidualAsset" xlink:label="loc_us-gaap_SalesTypeLeaseInterestIncomeUnguaranteedResidualAsset_7156548a-cd1b-3633-1c92-68cc198c65ee" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_SalesTypeAndDirectFinancingLeaseLeaseIncome_aa521a6e-7d83-1e57-9318-fc252ed0c000" xlink:to="loc_us-gaap_SalesTypeLeaseInterestIncomeUnguaranteedResidualAsset_7156548a-cd1b-3633-1c92-68cc198c65ee" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_SalesTypeAndDirectFinancingLeaseInterestIncomeOnDeferredFeesAndCosts" xlink:label="loc_key_SalesTypeAndDirectFinancingLeaseInterestIncomeOnDeferredFeesAndCosts_9ca61562-7886-539a-c4f4-fc252c28c59e" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_SalesTypeAndDirectFinancingLeaseLeaseIncome_aa521a6e-7d83-1e57-9318-fc252ed0c000" xlink:to="loc_key_SalesTypeAndDirectFinancingLeaseInterestIncomeOnDeferredFeesAndCosts_9ca61562-7886-539a-c4f4-fc252c28c59e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingLeaseLeaseIncome" xlink:label="loc_us-gaap_OperatingLeaseLeaseIncome_6f6da909-95c4-9b14-5291-c68aa543dbbe" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LeaseIncome_35e7cea0-2d82-6f21-fde7-ae4f1b0472dc" xlink:to="loc_us-gaap_OperatingLeaseLeaseIncome_6f6da909-95c4-9b14-5291-c68aa543dbbe" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingLeaseLeaseIncomeLeasePayments" xlink:label="loc_us-gaap_OperatingLeaseLeaseIncomeLeasePayments_7d115452-badb-bb58-b884-6738527468e4" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingLeaseLeaseIncome_6f6da909-95c4-9b14-5291-c68aa543dbbe" xlink:to="loc_us-gaap_OperatingLeaseLeaseIncomeLeasePayments_7d115452-badb-bb58-b884-6738527468e4" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_OperatingLeaseOtherOperatingLeasingGains" xlink:label="loc_key_OperatingLeaseOtherOperatingLeasingGains_7b626bef-3ba8-397b-7055-fc253012dcdc" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingLeaseLeaseIncome_6f6da909-95c4-9b14-5291-c68aa543dbbe" xlink:to="loc_key_OperatingLeaseOtherOperatingLeasingGains_7b626bef-3ba8-397b-7055-fc253012dcdc" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/LeasesComponentsOfLeaseExpenseAndIncomeDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LeaseCost" xlink:label="loc_us-gaap_LeaseCost_ac3b1889-9651-365f-e4fc-e6474385db69" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingLeaseCost" xlink:label="loc_us-gaap_OperatingLeaseCost_88d5ba82-39dd-36ed-37fe-92977ff632df" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LeaseCost_ac3b1889-9651-365f-e4fc-e6474385db69" xlink:to="loc_us-gaap_OperatingLeaseCost_88d5ba82-39dd-36ed-37fe-92977ff632df" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_VariableLeaseCost" xlink:label="loc_us-gaap_VariableLeaseCost_3df88f41-850d-02ae-dd0b-ab0215935a95" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LeaseCost_ac3b1889-9651-365f-e4fc-e6474385db69" xlink:to="loc_us-gaap_VariableLeaseCost_3df88f41-850d-02ae-dd0b-ab0215935a95" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinanceLeaseRightOfUseAssetAmortization" xlink:label="loc_us-gaap_FinanceLeaseRightOfUseAssetAmortization_e6bc46d1-fec7-6b3b-527e-4ad756896790" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LeaseCost_ac3b1889-9651-365f-e4fc-e6474385db69" xlink:to="loc_us-gaap_FinanceLeaseRightOfUseAssetAmortization_e6bc46d1-fec7-6b3b-527e-4ad756896790" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinanceLeaseInterestExpense" xlink:label="loc_us-gaap_FinanceLeaseInterestExpense_a4a8e3bb-2ee6-a2f3-d86b-f05bd98679a7" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LeaseCost_ac3b1889-9651-365f-e4fc-e6474385db69" xlink:to="loc_us-gaap_FinanceLeaseInterestExpense_a4a8e3bb-2ee6-a2f3-d86b-f05bd98679a7" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/LeasesCompositionOfNetInvestmentInSalesTypeAndDirectFinancingLeasesDetails" xlink:type="extended">
    <link:loc xlink:href="key-20191231.xsd#key_NetInvestmentInSalesTypeAndDirectFinancingLeases" xlink:label="loc_key_NetInvestmentInSalesTypeAndDirectFinancingLeases_98d3a974-60eb-e190-0440-fc252e3aac14" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivable" xlink:label="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivable_c87d1c12-8832-0750-7b65-37bebaac056d" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_NetInvestmentInSalesTypeAndDirectFinancingLeases_98d3a974-60eb-e190-0440-fc252e3aac14" xlink:to="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivable_c87d1c12-8832-0750-7b65-37bebaac056d" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_SalesTypeAndDirectFinancingLeasesUnearnedIncome" xlink:label="loc_key_SalesTypeAndDirectFinancingLeasesUnearnedIncome_c6fcad08-be08-b25f-7f30-fc252eecb611" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_NetInvestmentInSalesTypeAndDirectFinancingLeases_98d3a974-60eb-e190-0440-fc252e3aac14" xlink:to="loc_key_SalesTypeAndDirectFinancingLeasesUnearnedIncome_c6fcad08-be08-b25f-7f30-fc252eecb611" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_SalesTypeAndDirectFinancingLeasesUnguaranteedResidualAsset" xlink:label="loc_key_SalesTypeAndDirectFinancingLeasesUnguaranteedResidualAsset_af6209fe-6bfa-2248-fefc-fc252cafca78" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_NetInvestmentInSalesTypeAndDirectFinancingLeases_98d3a974-60eb-e190-0440-fc252e3aac14" xlink:to="loc_key_SalesTypeAndDirectFinancingLeasesUnguaranteedResidualAsset_af6209fe-6bfa-2248-fefc-fc252cafca78" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_SalesTypeAndDirectFinancingLeasesDeferredFeesAndCosts" xlink:label="loc_key_SalesTypeAndDirectFinancingLeasesDeferredFeesAndCosts_f37d5676-cdfa-4072-17fb-fc252cd3ccee" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_NetInvestmentInSalesTypeAndDirectFinancingLeases_98d3a974-60eb-e190-0440-fc252e3aac14" xlink:to="loc_key_SalesTypeAndDirectFinancingLeasesDeferredFeesAndCosts_f37d5676-cdfa-4072-17fb-fc252cd3ccee" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/LeasesMinimumFutureLeasePaymentsToBeReceivedForOperatingLeasesDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceived_e38e688f-e3df-720c-72b2-4d22e2221470" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_2c3ecb96-369b-ef88-2076-3cdf583520ec" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceived_e38e688f-e3df-720c-72b2-4d22e2221470" xlink:to="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_2c3ecb96-369b-ef88-2076-3cdf583520ec" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_2a6d5eb4-62af-e9bb-12b9-93fd54a3267f" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceived_e38e688f-e3df-720c-72b2-4d22e2221470" xlink:to="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_2a6d5eb4-62af-e9bb-12b9-93fd54a3267f" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_3e3a1252-0cfd-16d3-8d22-4bd8701af99f" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceived_e38e688f-e3df-720c-72b2-4d22e2221470" xlink:to="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_3e3a1252-0cfd-16d3-8d22-4bd8701af99f" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears_70609221-dde8-f48b-0e0f-c35287333ce1" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceived_e38e688f-e3df-720c-72b2-4d22e2221470" xlink:to="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears_70609221-dde8-f48b-0e0f-c35287333ce1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter_95d5cc2c-b689-8832-5113-752a79261cb4" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceived_e38e688f-e3df-720c-72b2-4d22e2221470" xlink:to="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter_95d5cc2c-b689-8832-5113-752a79261cb4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_afc7368f-9348-86e0-9e44-491177fed6c7" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceived_e38e688f-e3df-720c-72b2-4d22e2221470" xlink:to="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_afc7368f-9348-86e0-9e44-491177fed6c7" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/LeasesMinimumFutureLeasePaymentsToBeReceivedForSalesTypeAndDirectFinancingLeasesDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived" xlink:label="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived_ae410264-e547-0e75-2fd0-c97b47dd7471" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears" xlink:label="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears_e1e29818-cb00-3a45-a8d8-604b46276f6a" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived_ae410264-e547-0e75-2fd0-c97b47dd7471" xlink:to="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears_e1e29818-cb00-3a45-a8d8-604b46276f6a" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears" xlink:label="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears_4a118805-1908-df9a-5ad8-895baad25f4d" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived_ae410264-e547-0e75-2fd0-c97b47dd7471" xlink:to="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears_4a118805-1908-df9a-5ad8-895baad25f4d" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears" xlink:label="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears_03746fea-179e-8c0e-e15b-3500791fdb6c" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived_ae410264-e547-0e75-2fd0-c97b47dd7471" xlink:to="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears_03746fea-179e-8c0e-e15b-3500791fdb6c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFiveYears" xlink:label="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFiveYears_d036937f-8fb4-b4dd-f1ab-2d72d2a7a658" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived_ae410264-e547-0e75-2fd0-c97b47dd7471" xlink:to="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFiveYears_d036937f-8fb4-b4dd-f1ab-2d72d2a7a658" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThereafter" xlink:label="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThereafter_106578f9-5891-fe97-4464-ba20cd0f2627" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived_ae410264-e547-0e75-2fd0-c97b47dd7471" xlink:to="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThereafter_106578f9-5891-fe97-4464-ba20cd0f2627" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedNextTwelveMonths" xlink:label="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedNextTwelveMonths_1f1bce5e-7653-bfdb-3c14-b4eaf96e6853" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived_ae410264-e547-0e75-2fd0-c97b47dd7471" xlink:to="loc_us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedNextTwelveMonths_1f1bce5e-7653-bfdb-3c14-b4eaf96e6853" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/LeasesNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/LeasesSummaryOfAdditionalBalanceSheetInformationDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinanceLeaseRightOfUseAsset" xlink:label="loc_us-gaap_FinanceLeaseRightOfUseAsset_69276cd8-bc14-59c0-d638-5bf78fc9d77e" xlink:type="locator" />
    <link:loc xlink:href="key-20191231.xsd#key_FinanceLeaseRightOfUseAssetGross" xlink:label="loc_key_FinanceLeaseRightOfUseAssetGross_d62fd370-80da-778a-5ebb-fc252d749e5a" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseRightOfUseAsset_69276cd8-bc14-59c0-d638-5bf78fc9d77e" xlink:to="loc_key_FinanceLeaseRightOfUseAssetGross_d62fd370-80da-778a-5ebb-fc252d749e5a" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_FinanceLeaseRightOfUseAssetAccumulatedDepreciation" xlink:label="loc_key_FinanceLeaseRightOfUseAssetAccumulatedDepreciation_f00485b7-ea11-b22f-a1e6-fc252df5dcd7" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseRightOfUseAsset_69276cd8-bc14-59c0-d638-5bf78fc9d77e" xlink:to="loc_key_FinanceLeaseRightOfUseAssetAccumulatedDepreciation_f00485b7-ea11-b22f-a1e6-fc252df5dcd7" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/LeasesSummaryOfCashFlowsRelatedToLeasesDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/LeasesSummaryOfInformationPertainingToLeaseTermAndWeightedAverageDiscountRateDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/LeasesSummaryOfMaturitiesOfLeaseLiabilitiesDetails" xlink:type="extended">
    <link:loc xlink:href="key-20191231.xsd#key_LeaseLiabilityUndiscountedExcessAmount" xlink:label="loc_key_LeaseLiabilityUndiscountedExcessAmount_880793b3-ee29-69c9-bdc4-fc252e79b061" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_07815ffa-512a-3133-dcbb-38e09d2626b9" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityUndiscountedExcessAmount_880793b3-ee29-69c9-bdc4-fc252e79b061" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_07815ffa-512a-3133-dcbb-38e09d2626b9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount" xlink:label="loc_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_597d60ca-96f9-eb25-df87-2ed201ea93c3" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityUndiscountedExcessAmount_880793b3-ee29-69c9-bdc4-fc252e79b061" xlink:to="loc_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_597d60ca-96f9-eb25-df87-2ed201ea93c3" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_LeaseLiability" xlink:label="loc_key_LeaseLiability_98b8742b-f964-4572-c1b4-fc252db3b269" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingLeaseLiability" xlink:label="loc_us-gaap_OperatingLeaseLiability_b983c2d8-8318-0a7e-1a5c-6ab2933f7be5" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiability_98b8742b-f964-4572-c1b4-fc252db3b269" xlink:to="loc_us-gaap_OperatingLeaseLiability_b983c2d8-8318-0a7e-1a5c-6ab2933f7be5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinanceLeaseLiability" xlink:label="loc_us-gaap_FinanceLeaseLiability_66b601d4-fa3f-7d40-f560-84d87697ff03" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiability_98b8742b-f964-4572-c1b4-fc252db3b269" xlink:to="loc_us-gaap_FinanceLeaseLiability_66b601d4-fa3f-7d40-f560-84d87697ff03" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_1c2cd15f-6a97-015f-b126-1d0a0750698b" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_9b040bc1-f43c-735d-05f7-679f319d2bb6" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_1c2cd15f-6a97-015f-b126-1d0a0750698b" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_9b040bc1-f43c-735d-05f7-679f319d2bb6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_2f0ec234-4f20-7099-efb3-3c0ab4d024dd" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_1c2cd15f-6a97-015f-b126-1d0a0750698b" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_2f0ec234-4f20-7099-efb3-3c0ab4d024dd" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_1ed751b1-5f94-4f6f-41e9-ef873c9f2bab" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_1c2cd15f-6a97-015f-b126-1d0a0750698b" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_1ed751b1-5f94-4f6f-41e9-ef873c9f2bab" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_8a8de21f-aadc-3af7-8c96-d54cf42b401b" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_1c2cd15f-6a97-015f-b126-1d0a0750698b" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_8a8de21f-aadc-3af7-8c96-d54cf42b401b" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_b411eec9-2a0a-356b-e751-bd0680ab4d58" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_1c2cd15f-6a97-015f-b126-1d0a0750698b" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_b411eec9-2a0a-356b-e751-bd0680ab4d58" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_5ad4ca01-bc52-b198-b1fd-3cded668d167" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_1c2cd15f-6a97-015f-b126-1d0a0750698b" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_5ad4ca01-bc52-b198-b1fd-3cded668d167" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDue" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_585156c8-71c1-ada7-fa32-ec99a518c7a0" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_9048fd47-13cc-d6eb-d7dd-e8d53f87b993" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_585156c8-71c1-ada7-fa32-ec99a518c7a0" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_9048fd47-13cc-d6eb-d7dd-e8d53f87b993" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_c4c9d759-d9f6-eec5-3320-115ed3ebdd52" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_585156c8-71c1-ada7-fa32-ec99a518c7a0" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_c4c9d759-d9f6-eec5-3320-115ed3ebdd52" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_48ac7df5-3392-98b1-a73f-b2f41673ff75" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_585156c8-71c1-ada7-fa32-ec99a518c7a0" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_48ac7df5-3392-98b1-a73f-b2f41673ff75" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive_c21c69f2-c329-91b2-f24a-9debaed02565" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_585156c8-71c1-ada7-fa32-ec99a518c7a0" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive_c21c69f2-c329-91b2-f24a-9debaed02565" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive_80ad803a-a5b3-2c23-a7a0-aed644e501db" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_585156c8-71c1-ada7-fa32-ec99a518c7a0" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive_80ad803a-a5b3-2c23-a7a0-aed644e501db" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueNextTwelveMonths" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_bd82ad03-73ff-ee64-92c5-487d7a5c93ed" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_585156c8-71c1-ada7-fa32-ec99a518c7a0" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_bd82ad03-73ff-ee64-92c5-487d7a5c93ed" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_LeaseLiabilityPaymentsDue" xlink:label="loc_key_LeaseLiabilityPaymentsDue_bcc79e87-aa2c-569e-9594-fc25307d60cf" xlink:type="locator" />
    <link:loc xlink:href="key-20191231.xsd#key_LeaseLiabilityPaymentsDueYearTwo" xlink:label="loc_key_LeaseLiabilityPaymentsDueYearTwo_835b0245-a7c3-fc17-fc77-fc252f12c1e5" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDue_bcc79e87-aa2c-569e-9594-fc25307d60cf" xlink:to="loc_key_LeaseLiabilityPaymentsDueYearTwo_835b0245-a7c3-fc17-fc77-fc252f12c1e5" xlink:type="arc" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDueYearTwo_835b0245-a7c3-fc17-fc77-fc252f12c1e5" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_9b040bc1-f43c-735d-05f7-679f319d2bb6" xlink:type="arc" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDueYearTwo_835b0245-a7c3-fc17-fc77-fc252f12c1e5" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_9048fd47-13cc-d6eb-d7dd-e8d53f87b993" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_LeaseLiabilityPaymentsDueYearThree" xlink:label="loc_key_LeaseLiabilityPaymentsDueYearThree_9077308e-04cc-5765-6c1a-fc2531af1132" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDue_bcc79e87-aa2c-569e-9594-fc25307d60cf" xlink:to="loc_key_LeaseLiabilityPaymentsDueYearThree_9077308e-04cc-5765-6c1a-fc2531af1132" xlink:type="arc" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDueYearThree_9077308e-04cc-5765-6c1a-fc2531af1132" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_2f0ec234-4f20-7099-efb3-3c0ab4d024dd" xlink:type="arc" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDueYearThree_9077308e-04cc-5765-6c1a-fc2531af1132" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_c4c9d759-d9f6-eec5-3320-115ed3ebdd52" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_LeaseLiabilityPaymentsDueYearFour" xlink:label="loc_key_LeaseLiabilityPaymentsDueYearFour_b0a02073-6df5-9069-1a16-fc252c6503f8" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDue_bcc79e87-aa2c-569e-9594-fc25307d60cf" xlink:to="loc_key_LeaseLiabilityPaymentsDueYearFour_b0a02073-6df5-9069-1a16-fc252c6503f8" xlink:type="arc" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDueYearFour_b0a02073-6df5-9069-1a16-fc252c6503f8" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_1ed751b1-5f94-4f6f-41e9-ef873c9f2bab" xlink:type="arc" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDueYearFour_b0a02073-6df5-9069-1a16-fc252c6503f8" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_48ac7df5-3392-98b1-a73f-b2f41673ff75" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_LeaseLiabilityPaymentsDueYearFive" xlink:label="loc_key_LeaseLiabilityPaymentsDueYearFive_0a9ecd2f-f673-50c6-c59b-fc2531837f6f" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDue_bcc79e87-aa2c-569e-9594-fc25307d60cf" xlink:to="loc_key_LeaseLiabilityPaymentsDueYearFive_0a9ecd2f-f673-50c6-c59b-fc2531837f6f" xlink:type="arc" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDueYearFive_0a9ecd2f-f673-50c6-c59b-fc2531837f6f" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_8a8de21f-aadc-3af7-8c96-d54cf42b401b" xlink:type="arc" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDueYearFive_0a9ecd2f-f673-50c6-c59b-fc2531837f6f" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive_c21c69f2-c329-91b2-f24a-9debaed02565" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_LeaseLiabilityPaymentsDueAfterYearFive" xlink:label="loc_key_LeaseLiabilityPaymentsDueAfterYearFive_a39a1f21-8d9a-68f1-f4b0-fc252d509e41" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDue_bcc79e87-aa2c-569e-9594-fc25307d60cf" xlink:to="loc_key_LeaseLiabilityPaymentsDueAfterYearFive_a39a1f21-8d9a-68f1-f4b0-fc252d509e41" xlink:type="arc" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDueAfterYearFive_a39a1f21-8d9a-68f1-f4b0-fc252d509e41" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_b411eec9-2a0a-356b-e751-bd0680ab4d58" xlink:type="arc" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDueAfterYearFive_a39a1f21-8d9a-68f1-f4b0-fc252d509e41" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive_80ad803a-a5b3-2c23-a7a0-aed644e501db" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_LeaseLiabilityPaymentsDueNextTwelveMonths" xlink:label="loc_key_LeaseLiabilityPaymentsDueNextTwelveMonths_2E22CB9AE410D48A4CE91BB7CBCC54D1" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDue_bcc79e87-aa2c-569e-9594-fc25307d60cf" xlink:to="loc_key_LeaseLiabilityPaymentsDueNextTwelveMonths_2E22CB9AE410D48A4CE91BB7CBCC54D1" xlink:type="arc" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDueNextTwelveMonths_2E22CB9AE410D48A4CE91BB7CBCC54D1" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_5ad4ca01-bc52-b198-b1fd-3cded668d167" xlink:type="arc" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDueNextTwelveMonths_2E22CB9AE410D48A4CE91BB7CBCC54D1" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_bd82ad03-73ff-ee64-92c5-487d7a5c93ed" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/LeasesSummaryOfMaturitiesOfLeaseLiabilitiesDetailsCalc2" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_2524064D7C7BE0D57B271BBF53EAB122_1c2cd15f-6a97-015f-b126-1d0a0750698b" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_2524064D7C7BE0D57B271BBF53EAB122_07815ffa-512a-3133-dcbb-38e09d2626b9" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_2524064D7C7BE0D57B271BBF53EAB122_1c2cd15f-6a97-015f-b126-1d0a0750698b" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_2524064D7C7BE0D57B271BBF53EAB122_07815ffa-512a-3133-dcbb-38e09d2626b9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingLeaseLiability" xlink:label="loc_us-gaap_OperatingLeaseLiability_2524064D7C7BE0D57B271BBF53EAB122_b983c2d8-8318-0a7e-1a5c-6ab2933f7be5" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_2524064D7C7BE0D57B271BBF53EAB122_1c2cd15f-6a97-015f-b126-1d0a0750698b" xlink:to="loc_us-gaap_OperatingLeaseLiability_2524064D7C7BE0D57B271BBF53EAB122_b983c2d8-8318-0a7e-1a5c-6ab2933f7be5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDue" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_2524064D7C7BE0D57B271BBF53EAB122_585156c8-71c1-ada7-fa32-ec99a518c7a0" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount" xlink:label="loc_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_2524064D7C7BE0D57B271BBF53EAB122_597d60ca-96f9-eb25-df87-2ed201ea93c3" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_2524064D7C7BE0D57B271BBF53EAB122_585156c8-71c1-ada7-fa32-ec99a518c7a0" xlink:to="loc_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_2524064D7C7BE0D57B271BBF53EAB122_597d60ca-96f9-eb25-df87-2ed201ea93c3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinanceLeaseLiability" xlink:label="loc_us-gaap_FinanceLeaseLiability_2524064D7C7BE0D57B271BBF53EAB122_66b601d4-fa3f-7d40-f560-84d87697ff03" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_2524064D7C7BE0D57B271BBF53EAB122_585156c8-71c1-ada7-fa32-ec99a518c7a0" xlink:to="loc_us-gaap_FinanceLeaseLiability_2524064D7C7BE0D57B271BBF53EAB122_66b601d4-fa3f-7d40-f560-84d87697ff03" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_LeaseLiabilityPaymentsDue" xlink:label="loc_key_LeaseLiabilityPaymentsDue_2524064D7C7BE0D57B271BBF53EAB122_bcc79e87-aa2c-569e-9594-fc25307d60cf" xlink:type="locator" />
    <link:loc xlink:href="key-20191231.xsd#key_LeaseLiabilityUndiscountedExcessAmount" xlink:label="loc_key_LeaseLiabilityUndiscountedExcessAmount_2524064D7C7BE0D57B271BBF53EAB122_880793b3-ee29-69c9-bdc4-fc252e79b061" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDue_2524064D7C7BE0D57B271BBF53EAB122_bcc79e87-aa2c-569e-9594-fc25307d60cf" xlink:to="loc_key_LeaseLiabilityUndiscountedExcessAmount_2524064D7C7BE0D57B271BBF53EAB122_880793b3-ee29-69c9-bdc4-fc252e79b061" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_LeaseLiability" xlink:label="loc_key_LeaseLiability_2524064D7C7BE0D57B271BBF53EAB122_98b8742b-f964-4572-c1b4-fc252db3b269" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDue_2524064D7C7BE0D57B271BBF53EAB122_bcc79e87-aa2c-569e-9594-fc25307d60cf" xlink:to="loc_key_LeaseLiability_2524064D7C7BE0D57B271BBF53EAB122_98b8742b-f964-4572-c1b4-fc252db3b269" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/LeasesSummaryOfMaturitiesOfLeaseLiabilitiesDetailsCalc3" xlink:type="extended">
    <link:loc xlink:href="key-20191231.xsd#key_LeaseLiabilityPaymentsDue" xlink:label="loc_key_LeaseLiabilityPaymentsDue_9F780E2EABDAFEA1AC991BC006A2C68A_bcc79e87-aa2c-569e-9594-fc25307d60cf" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_9F780E2EABDAFEA1AC991BC006A2C68A_1c2cd15f-6a97-015f-b126-1d0a0750698b" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDue_9F780E2EABDAFEA1AC991BC006A2C68A_bcc79e87-aa2c-569e-9594-fc25307d60cf" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_9F780E2EABDAFEA1AC991BC006A2C68A_1c2cd15f-6a97-015f-b126-1d0a0750698b" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDue" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_9F780E2EABDAFEA1AC991BC006A2C68A_585156c8-71c1-ada7-fa32-ec99a518c7a0" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_LeaseLiabilityPaymentsDue_9F780E2EABDAFEA1AC991BC006A2C68A_bcc79e87-aa2c-569e-9594-fc25307d60cf" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_9F780E2EABDAFEA1AC991BC006A2C68A_585156c8-71c1-ada7-fa32-ec99a518c7a0" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/LeasesTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/LoanPortfolio" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/LoanPortfolioLoansByCategoryDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/LoanPortfolioTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/LongTermDebt" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/LongTermDebtComponentsOfLongTermDebtDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt_a2f199ce-3001-c200-d488-633bc54206dc" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SubordinatedLongTermDebt" xlink:label="loc_us-gaap_SubordinatedLongTermDebt_24ba67e9-f4ab-72fd-05d4-5c99009fe195" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LongTermDebt_a2f199ce-3001-c200-d488-633bc54206dc" xlink:to="loc_us-gaap_SubordinatedLongTermDebt_24ba67e9-f4ab-72fd-05d4-5c99009fe195" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SecuredDebt" xlink:label="loc_us-gaap_SecuredDebt_299f123d-e332-58c8-936d-f1621911cb7e" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LongTermDebt_a2f199ce-3001-c200-d488-633bc54206dc" xlink:to="loc_us-gaap_SecuredDebt_299f123d-e332-58c8-936d-f1621911cb7e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FederalHomeLoanBankAdvancesLongTerm" xlink:label="loc_us-gaap_FederalHomeLoanBankAdvancesLongTerm_7f3ac85c-d4ed-f8ac-9958-c16fb5da438f" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LongTermDebt_a2f199ce-3001-c200-d488-633bc54206dc" xlink:to="loc_us-gaap_FederalHomeLoanBankAdvancesLongTerm_7f3ac85c-d4ed-f8ac-9958-c16fb5da438f" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_InvestmentFundFinancing" xlink:label="loc_key_InvestmentFundFinancing_6e603ce8-54dd-b173-1492-9418c0a0297d" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LongTermDebt_a2f199ce-3001-c200-d488-633bc54206dc" xlink:to="loc_key_InvestmentFundFinancing_6e603ce8-54dd-b173-1492-9418c0a0297d" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinanceLeaseLiability" xlink:label="loc_us-gaap_FinanceLeaseLiability_66b601d4-fa3f-7d40-f560-84d87697ff03" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LongTermDebt_a2f199ce-3001-c200-d488-633bc54206dc" xlink:to="loc_us-gaap_FinanceLeaseLiability_66b601d4-fa3f-7d40-f560-84d87697ff03" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_MediumtermNotesNoncurrent" xlink:label="loc_us-gaap_MediumtermNotesNoncurrent_a7d34855-61a9-c375-c35d-a05cb941311b" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LongTermDebt_a2f199ce-3001-c200-d488-633bc54206dc" xlink:to="loc_us-gaap_MediumtermNotesNoncurrent_a7d34855-61a9-c375-c35d-a05cb941311b" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/LongTermDebtNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/LongTermDebtScheduledPrincipalPaymentsOnLongTermDebtDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/LongTermDebtTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/MortgageServicingAssets" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/MortgageServicingAssetsChangesInCarryingAmountOfMortgageServicingAssetsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/MortgageServicingAssetsNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/MortgageServicingAssetsScheduleOfRangeAndWeightedAverageOfSignificantUnobservableInputsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/MortgageServicingAssetsTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/PremisesAndEquipment" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/PremisesAndEquipmentNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/PremisesAndEquipmentScheduleOfPremisesAndEquipmentDetails" xlink:type="extended">
    <link:loc xlink:href="key-20191231.xsd#key_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization" xlink:label="loc_key_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization_9F8F35C676FE0E6CF1401D6236DF47B4" xlink:type="locator" />
    <link:loc xlink:href="key-20191231.xsd#key_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization" xlink:label="loc_key_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization_5A0317D3001A261987311D64B6197C3B" xlink:type="locator" />
    <link:calculationArc order="1" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization_9F8F35C676FE0E6CF1401D6236DF47B4" xlink:to="loc_key_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization_5A0317D3001A261987311D64B6197C3B" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization" xlink:label="loc_key_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization_118AD771B974964AFE541D659D9CD1B0" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization_9F8F35C676FE0E6CF1401D6236DF47B4" xlink:to="loc_key_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization_118AD771B974964AFE541D659D9CD1B0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentGross_94cd7971-9d17-1c6e-6642-d4d38fb682b6" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization_118AD771B974964AFE541D659D9CD1B0" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentGross_94cd7971-9d17-1c6e-6642-d4d38fb682b6" xlink:type="arc" />
    <link:loc xlink:href="key-20191231.xsd#key_FinanceLeaseRightofUseAssetBeforeAccumulatedAmortization" xlink:label="loc_key_FinanceLeaseRightofUseAssetBeforeAccumulatedAmortization_1657F5FCE0A9C3EED83E1D66F964B81C" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization_118AD771B974964AFE541D659D9CD1B0" xlink:to="loc_key_FinanceLeaseRightofUseAssetBeforeAccumulatedAmortization_1657F5FCE0A9C3EED83E1D66F964B81C" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/PremisesAndEquipmentTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/RestrictionsOnCashDividendsAndLendingActivities" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/RestrictionsOnCashDividendsAndLendingActivitiesNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/RevenueFromContractsWithCustomers" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/RevenueFromContractsWithCustomersDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/RevenueFromContractsWithCustomersTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/Securities" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/SecuritiesAdditionalInformationDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/SecuritiesDetailsOfSecuritiesDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis" xlink:label="loc_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_27940abc-0cb4-eab4-8ef0-df4a4c0bb415" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax" xlink:label="loc_us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_9fbaf9cb-468f-3b91-9cf2-18d26152173d" xlink:type="locator" />
    <link:calculationArc order="1" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_27940abc-0cb4-eab4-8ef0-df4a4c0bb415" xlink:to="loc_us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_9fbaf9cb-468f-3b91-9cf2-18d26152173d" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax" xlink:label="loc_us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_a23ab896-034e-8e96-1a84-63ffb40e496e" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_27940abc-0cb4-eab4-8ef0-df4a4c0bb415" xlink:to="loc_us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_a23ab896-034e-8e96-1a84-63ffb40e496e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecurities" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_e562c48b-3e99-2c57-8e96-c3b81056b58c" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_27940abc-0cb4-eab4-8ef0-df4a4c0bb415" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_e562c48b-3e99-2c57-8e96-c3b81056b58c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecurities" xlink:label="loc_us-gaap_HeldToMaturitySecurities_68681ceb-ee59-4c23-4b8e-33a166cc5b4e" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain_d7d63001-cc8d-097b-a0dc-f2e7b842eedb" xlink:type="locator" />
    <link:calculationArc order="1" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_HeldToMaturitySecurities_68681ceb-ee59-4c23-4b8e-33a166cc5b4e" xlink:to="loc_us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain_d7d63001-cc8d-097b-a0dc-f2e7b842eedb" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss_6a2ab4f1-73c0-397b-ff46-cdc67a75525b" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_HeldToMaturitySecurities_68681ceb-ee59-4c23-4b8e-33a166cc5b4e" xlink:to="loc_us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss_6a2ab4f1-73c0-397b-ff46-cdc67a75525b" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecuritiesFairValue" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesFairValue_4f9b7046-b000-3e9f-077e-198f95563d5e" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_HeldToMaturitySecurities_68681ceb-ee59-4c23-4b8e-33a166cc5b4e" xlink:to="loc_us-gaap_HeldToMaturitySecuritiesFairValue_4f9b7046-b000-3e9f-077e-198f95563d5e" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/SecuritiesFinancingActivities" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/SecuritiesFinancingActivitiesSummarizedSecuritiesFinancingAgreementsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/SecuritiesFinancingActivitiesTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/SecuritiesRealizedGainsAndLossesOnSecuritiesDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss" xlink:label="loc_us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss_70a92108-04c8-ea13-dcdc-b3b1e3a5458e" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtSecuritiesAvailableForSaleRealizedGain" xlink:label="loc_us-gaap_DebtSecuritiesAvailableForSaleRealizedGain_bf959114-1fbc-5fda-8c0b-dc77a3be947c" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss_70a92108-04c8-ea13-dcdc-b3b1e3a5458e" xlink:to="loc_us-gaap_DebtSecuritiesAvailableForSaleRealizedGain_bf959114-1fbc-5fda-8c0b-dc77a3be947c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtSecuritiesAvailableForSaleRealizedLoss" xlink:label="loc_us-gaap_DebtSecuritiesAvailableForSaleRealizedLoss_ffa1d70b-a245-36db-5216-ebca5e8dfa6d" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss_70a92108-04c8-ea13-dcdc-b3b1e3a5458e" xlink:to="loc_us-gaap_DebtSecuritiesAvailableForSaleRealizedLoss_ffa1d70b-a245-36db-5216-ebca5e8dfa6d" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/SecuritiesSecuritiesByMaturityDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecurities" xlink:label="loc_us-gaap_HeldToMaturitySecurities_68681ceb-ee59-4c23-4b8e-33a166cc5b4e" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount_7f64a45e-170f-8856-66e3-8287b0258afc" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_HeldToMaturitySecurities_68681ceb-ee59-4c23-4b8e-33a166cc5b4e" xlink:to="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount_7f64a45e-170f-8856-66e3-8287b0258afc" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount_e393a271-d6ec-6465-0402-26e60e041424" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_HeldToMaturitySecurities_68681ceb-ee59-4c23-4b8e-33a166cc5b4e" xlink:to="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount_e393a271-d6ec-6465-0402-26e60e041424" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsNetCarryingAmount" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsNetCarryingAmount_e714f5ac-9e4f-df31-0686-67d03ae6b311" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_HeldToMaturitySecurities_68681ceb-ee59-4c23-4b8e-33a166cc5b4e" xlink:to="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsNetCarryingAmount_e714f5ac-9e4f-df31-0686-67d03ae6b311" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsNetCarryingAmount" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsNetCarryingAmount_2a5a52df-c284-3f9c-afd1-51cb45cbe3b9" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_HeldToMaturitySecurities_68681ceb-ee59-4c23-4b8e-33a166cc5b4e" xlink:to="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsNetCarryingAmount_2a5a52df-c284-3f9c-afd1-51cb45cbe3b9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecuritiesFairValue" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesFairValue_4f9b7046-b000-3e9f-077e-198f95563d5e" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearFairValue_912d08f8-1726-bfae-7790-02952b46ab84" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesFairValue_4f9b7046-b000-3e9f-077e-198f95563d5e" xlink:to="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearFairValue_912d08f8-1726-bfae-7790-02952b46ab84" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_20c7522f-3e17-8a70-2997-1273217c0ef3" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesFairValue_4f9b7046-b000-3e9f-077e-198f95563d5e" xlink:to="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_20c7522f-3e17-8a70-2997-1273217c0ef3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_e115b662-fdd2-274c-b973-0fa9b84d98fc" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesFairValue_4f9b7046-b000-3e9f-077e-198f95563d5e" xlink:to="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_e115b662-fdd2-274c-b973-0fa9b84d98fc" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsFairValue_17e3cd6c-f92b-144a-7efd-e3eacd4de85c" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesFairValue_4f9b7046-b000-3e9f-077e-198f95563d5e" xlink:to="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsFairValue_17e3cd6c-f92b-144a-7efd-e3eacd4de85c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecurities" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_e562c48b-3e99-2c57-8e96-c3b81056b58c" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_d870856f-841f-c3d0-a313-ca9d525216a8" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_e562c48b-3e99-2c57-8e96-c3b81056b58c" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_d870856f-841f-c3d0-a313-ca9d525216a8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_6a2a51c8-a80d-af5e-4dc1-d2eeba9d310c" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_e562c48b-3e99-2c57-8e96-c3b81056b58c" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_6a2a51c8-a80d-af5e-4dc1-d2eeba9d310c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_7f031d71-7992-4d18-a9d4-3c1221e2a6bb" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_e562c48b-3e99-2c57-8e96-c3b81056b58c" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_7f031d71-7992-4d18-a9d4-3c1221e2a6bb" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_dea36972-70da-958f-bd14-29224bedcb55" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_e562c48b-3e99-2c57-8e96-c3b81056b58c" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_dea36972-70da-958f-bd14-29224bedcb55" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis" xlink:label="loc_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_27940abc-0cb4-eab4-8ef0-df4a4c0bb415" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_2689b18d-c088-f9d0-8533-bbbc6703e3ca" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_27940abc-0cb4-eab4-8ef0-df4a4c0bb415" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_2689b18d-c088-f9d0-8533-bbbc6703e3ca" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost_ec915ab0-b06c-8246-6113-1ffd431b1e4b" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_27940abc-0cb4-eab4-8ef0-df4a4c0bb415" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost_ec915ab0-b06c-8246-6113-1ffd431b1e4b" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost_685bf464-cfee-568e-f726-7f96d378e9e1" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_27940abc-0cb4-eab4-8ef0-df4a4c0bb415" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost_685bf464-cfee-568e-f726-7f96d378e9e1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost_5fa99027-0ebb-5ffa-2596-c5d8d96d1a7f" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_27940abc-0cb4-eab4-8ef0-df4a4c0bb415" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost_5fa99027-0ebb-5ffa-2596-c5d8d96d1a7f" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/SecuritiesSummaryOfSecuritiesInUnrealizedLossPositionDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/SecuritiesTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/ShareholdersEquity" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/ShareholdersEquityComprehensiveCapitalPlanDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/ShareholdersEquityKeysAndKeybanksActualCapitalAmountsAndRatiosMinimumCapitalAmountsAndRatiosDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/ShareholdersEquityScheduleOfPreferredStockDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/ShareholdersEquityTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/ShortTermBorrowings" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/ShortTermBorrowingsComponentsOfShortTermBorrowingsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/ShortTermBorrowingsNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/ShortTermBorrowingsTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/StockBasedCompensation" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/StockBasedCompensationActivityAndPricingInformationForNonvestedSharesGrantedUnderDeferredCompensationPlansAndOtherRestrictedStockAwardsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/StockBasedCompensationActivityAndPricingInformationForNonvestedSharesInLongTermIncentiveCompensationProgramDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/StockBasedCompensationActivityPricingAndOtherInformationForStockOptionsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/StockBasedCompensationAssumptionsUsedInOptionsPricingModelDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/StockBasedCompensationNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/StockBasedCompensationTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/SummaryOfSignificantAccountingPolicies" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/SummaryOfSignificantAccountingPoliciesPolicies" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/SummaryOfSignificantAccountingPoliciesTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/TrustPreferredSecuritiesIssuedByUnconsolidatedSubsidiaries" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/TrustPreferredSecuritiesIssuedByUnconsolidatedSubsidiariesSummaryOfTrustPreferredSecuritiesCommonStockAndRelatedDebenturesDetails" xlink:type="extended">
    <link:loc xlink:href="key-20191231.xsd#key_PrincipalAmountOfDebenturesNetOfDiscount" xlink:label="loc_key_PrincipalAmountOfDebenturesNetOfDiscount_738813c4-0d45-7d70-51dc-fc2530fea111" xlink:type="locator" />
    <link:loc xlink:href="key-20191231.xsd#key_TrustPreferredSecuritiesNetOfDiscount" xlink:label="loc_key_TrustPreferredSecuritiesNetOfDiscount_a29717ba-de73-7892-4a81-fc252d6de776" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_PrincipalAmountOfDebenturesNetOfDiscount_738813c4-0d45-7d70-51dc-fc2530fea111" xlink:to="loc_key_TrustPreferredSecuritiesNetOfDiscount_a29717ba-de73-7892-4a81-fc252d6de776" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockValue" xlink:label="loc_us-gaap_CommonStockValue_f05ab245-2bd1-7865-e7ed-1461a5a6155f" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_key_PrincipalAmountOfDebenturesNetOfDiscount_738813c4-0d45-7d70-51dc-fc2530fea111" xlink:to="loc_us-gaap_CommonStockValue_f05ab245-2bd1-7865-e7ed-1461a5a6155f" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.Key.com/role/TrustPreferredSecuritiesIssuedByUnconsolidatedSubsidiariesTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/VariableInterestEntities" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/VariableInterestEntitiesNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/VariableInterestEntitiesTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.Key.com/role/VariableInterestEntitiesVariableInterestEntitiesInformationDetails" xlink:type="extended" />
</link:linkbase>
