On August 12, 2024, KeyCorp entered into an Investment Agreement with Scotiabank pursuant to which Scotiabank agreed to make a strategic minority investment in KeyCorp of approximately $2.8 billion, representing approximately 14.9% pro forma common stock ownership of KeyCorp.

On September 6, 2024, KeyCorp initiated a strategic repositioning of available-for-sale investment securities portfolio by selling approximately $7.0 billion in market value of low-yielding mortgage-backed securities. Reinvestment of the proceeds from the sale was completed in October, with the new securities having an average book yield of approximately 4.95% and an average duration of approximately four years.

Highlighted by a 4% year-over-year increase in client deposits and 3.5% net new relationship household growth annualized year-to-date.

This implies about 400 basis points of positive operating leverage on a year-over-year basis, excluding the securities portfolio repositioning.

The quarter ended with a Common Equity Tier 1 ratio of 10.8%, up approximately 100 basis points from a year ago, including the impact of balance sheet repositioning and the strategic minority investment by Scotiabank.

Net charge-offs remain at the low-end of the long-term target range of 40 to 60 basis points and have been below range the past few years.

The FDIC would collect a special assessment from IDIs at an annual rate of approximately 13.4 basis points over eight quarterly assessment periods, starting with the first quarterly assessment period of 2024.

In order to clarify and strengthen resolution plan submission requirements and reflect lessons learned since the adoption of the FDIC's current resolution plan rule in 2012.

Which gives individuals the right to obtain data regarding consumer financial products and services they have obtained.

At September 30, 2024, the bank, trust, and registered investment advisory subsidiaries had assets under management of $61.1 billion, up 16.4% compared to September 30, 2023.

For the three months ended September 30, 2024, investment banking and debt placement fees were up $30 million, or 21.3%, compared to the same period one year ago, driven by debt and equity underwriting and syndication fees.

The CFPB indicated that it adopted this rule in order to foster competition and consumer choice and said that this rule is a step towards bringing about an 'open banking' system in the United States.

Noninterest expense was $1.1 billion for the third quarter of 2024, compared to $1.1 billion for the third quarter of 2023.

Personnel expense, the largest category of noninterest expense, increased by $7 million, or 1.1%, for the three months ended September 30, 2024, compared to the same period one year ago.

Nonpersonnel expense for the three months ended September 30, 2024, decreased $23 million, or 5.1%, from the year-ago quarter, primarily due to a decrease in marketing expense and other miscellaneous expenses, offset slightly by an increase in computer processing expense.

The Consumer Bank serves individuals and small businesses throughout our 15-state branch footprint and through our Laurel Road digital brand by offering a variety of deposit and investment products, personal finance and financial wellness services, lending, student loan refinancing, mortgage and home equity, credit card, treasury services, and business advisory services.

We also rely upon software programs designed to assist in assessing operational risk and monitoring our control processes.

For the three months ended September 30, 2024, other nonpersonnel expense decreased $23 million, or 5.1%, from the year-ago quarter, primarily due to a decrease in marketing expense and other miscellaneous expenses, offset slightly by an increase in computer processing expense.

On August 12, 2024, KeyCorp entered into an Investment Agreement with Scotiabank pursuant to which Scotiabank agreed to make a strategic minority investment in KeyCorp of approximately $2.8 billion, representing approximately 14.9% pro forma common stock ownership of KeyCorp.

On September 6, 2024, KeyCorp initiated a strategic repositioning of available-for-sale investment securities portfolio by selling approximately $7.0 billion in market value of low-yielding mortgage-backed securities.

Further information regarding the capital planning process and CCAR is included under the heading “Capital planning and stress testing” beginning on page 16 in the 'Supervision and Regulation' section of our 2023 Form 10-K.

Our ability to manage our reputation risks, including ESG-related risks.

The document does not contain information about environmental commitments and progress, social responsibility initiatives, or governance practices.

The document does not contain information about sustainability risks and opportunities.

The extensive regulation of the U.S. financial services industry.

Complex and evolving laws and regulations regarding privacy and cybersecurity.

Evolving capital and liquidity standards under applicable regulatory rules.