Key facts
- KeyCorp added $6.8 billion of forward-starting receive-fixed interest rate swaps in the third quarter.
- The additions lifted KeyCorp's total swap positions to $10 billion, according to Risk.net.
- KeyCorp executed $3.3 billion of similar swaps in the second quarter.
- The $10.1 billion portfolio is scheduled to begin generating income at a future date, the report said.
KeyCorp added $6.8 billion of forward-starting receive-fixed interest rate swaps in the third quarter, lifting its total positions to $10 billion, Risk.net reported on November 9, 2026. The bank said the swaps were intended to lock in attractive rates and protect future interest income against potential declines in borrowing costs, according to the report.
The additions followed $3.3 billion of similar swaps executed in the second quarter. The $10.1 billion portfolio is scheduled to begin generating income at a future date, the report said, without specifying when.
A receive-fixed swap pays the holder a fixed rate and requires payment of a floating rate, so the position gains when market rates fall. KeyCorp's disclosure of the program came in a report that did not state the exact date of the third-quarter additions.