KeyBank 2015 Annual Report Download - page 81

Maturities and sensitivity of certain loans to changes in interest rates
Figure 22 shows the remaining maturities of certain commercial and real estate loans, and the sensitivity of those
loans to changes in interest rates. At December 31, 2015, approximately 28.7% of these outstanding loans were
scheduled to mature within one year.
Figure 22. Remaining Maturities and Sensitivity of Certain Loans to Changes in Interest Rates
December 31, 2015
in millions Within One Year One - Five Years Over Five Years Total
Commercial, financial and agricultural $ 8,942 $ 17,845 $ 4,453 $ 31,240
Real estate — construction 432 596 25 1,053
Real estate — residential and commercial mortgage 2,838 5,549 1,814 10,201
$ 12,212 $ 23,990 $ 6,292 $ 42,494
Loans with floating or adjustable interest rates (a) $ 20,621 $ 3,639 $ 24,260
Loans with predetermined interest rates (b) 3,369 2,653 6,022
$ 23,990 $ 6,292 $ 30,282
(a) Floating and adjustable rates vary in relation to other interest rates (such as the base lending rate) or a variable index that may change
during the term of the loan.
(b) Predetermined interest rates either are fixed or may change during the term of the loan according to a specific formula or schedule.
Securities
Our securities portfolio totaled $19.1 billion at December 31, 2015, compared to $18.4 billion at December 31,
2014. Available-for-sale securities were $14.2 billion at December 31, 2015, compared to $13.4 billion at
December 31, 2014. Held-to-maturity securities were $4.9 billion at December 31, 2015, compared to $5 billion
at December 31, 2014.
As shown in Figure 23, all of our mortgage-backed securities, which include both securities available for sale and
held-to-maturity securities, are issued by government-sponsored enterprises or GNMA, and are traded in liquid
secondary markets. These securities are recorded on the balance sheet at fair value for the available-for-sale
portfolio and at cost for the held-to-maturity portfolio. For more information about these securities, see Note 6
(“Fair Value Measurements”) under the heading “Qualitative Disclosures of Valuation Techniques,” and Note 7
(“Securities”).
Figure 23. Mortgage-Backed Securities by Issuer
December 31,
in millions 2015 2014
FHLMC $ 4,349 $ 5,666
FNMA 4,511 4,998
GNMA 10,152 7,636
Total (a) $ 19,012 $ 18,300
(a) Includes securities held in the available-for-sale and held-to-maturity portfolios.
Securities available for sale
The majority of our securities available-for-sale portfolio consists of Federal Agency CMOs and mortgage-
backed securities. CMOs are debt securities secured by a pool of mortgages or mortgage-backed securities. These
mortgage securities generate interest income, serve as collateral to support certain pledging agreements, and
67