KeyCorp locks in future rates with $6.8bn swaps additions
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Forward hedges rise to $10bn as lender prepares for rate uncertainty
KeyCorp added $6.8 billion of forward-starting receive-fixed interest rate swaps in the third quarter, bringing its total positions to $10 billion as it sought to lock in attractive rates and protect future interest income against potential declines in borrowing costs.
The additions followed $3.3 billion of similar swaps executed in Q2. The $10.1 billion portfolio is scheduled to begin generating
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