PNC · 8-K · 20261015PR065936

Interest Rate Impact

PNC FINANCIAL SERVICES GROUP, INC. · 2026-10-15 · Importance 51 · Surprise 64 · In source text

PNC reported AOCI of negative $6.5 billion at September 30, 2026, compared with negative $4.1 billion at June 30, 2026 and September 30, 2025. The $2.4 billion deterioration from June was attributed to the impact of higher interest rates on securities and swaps, partially offset by accretion of unrealized losses.

Key facts

• PNC’s average borrowed funds of $85.7 billion increased $6.7 billion from the second quarter and $19.4 billion year over year, primarily due to higher Federal Home Loan Bank advances added late in the second quarter of 2026. source
• PNC’s average investment securities increased $4.3 billion from the second quarter and $6.9 billion year over year, reflecting higher residential mortgage-backed securities in both comparisons. source
• PNC’s AOCI was negative $6.5 billion at September 30, 2026, compared with negative $4.1 billion at June 30, 2026 and September 30, 2025; the declines reflected higher interest rates on securities and swaps, partially offset by continued accretion of unrealized losses. source
• PNC’s investment securities portfolio duration was 4.1 years at September 30, 2026, compared with 3.6 years at June 30, 2026 and 3.4 years at September 30, 2025. source
• PNC’s net unrealized losses on available-for-sale securities were $4.0 billion at September 30, 2026, compared with $2.1 billion at both June 30, 2026 and September 30, 2025. source
• PNC’s AOCI was negative $6.5 billion in the third quarter of 2026, compared with negative $4.1 billion in the second quarter. source
• PNC’s average investment securities of $151.4 billion increased $4.3 billion, or 3%, from the second quarter, reflecting higher residential mortgage-backed securities. source

Impact estimates