- KeyCorp (NYSE:KEY) said it has initiated a strategic repositioning of its available-for-sale investment securities portfolio by selling about $7 billion of low-yielding investment securities, resulting in an expected after-tax loss of nearly $700 million in the third quarter of 2024.
- The investment securities that were sold had a weighted average book yield of approximately 2.3% and an average duration of approximately 6 years, according to a filing.
