KeyCorp Initiated A Strategic Repositioning Of Its Available-for-sale Investment Securities Portfolio, Sells About $7B Of Low-Yielding Investment Securities; Resulted In An Expected After-Tax Loss Of Approximately $700M In Q3 Of 2024
Portfolio Pulse from Benzinga Newsdesk
KeyCorp has initiated a strategic repositioning of its available-for-sale investment securities portfolio by selling approximately $7 billion of low-yielding investment securities. This move is expected to result in an after-tax loss of about $700 million in Q3 2024.
September 09, 2024 | 12:26 pm
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KeyCorp's strategic repositioning involves selling $7 billion of low-yielding securities, leading to an expected $700 million after-tax loss in Q3 2024. This move aims to optimize their investment portfolio.
The sale of $7 billion in low-yielding securities and the resulting $700 million after-tax loss indicate a significant financial impact on KeyCorp. This strategic repositioning suggests a focus on optimizing their investment portfolio, but the immediate financial loss is likely to negatively affect the stock price in the short term.
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