FINANCIAL_SERVICESONGOING

PNC Continues CalHFA Interest-Rate Swap Role

CalHFA reported that PNC serves as an interest-rate swap counterparty and guarantor for the Agency's multifamily loan-commitment hedges. PNC's guaranteed swaps had a $20.4 million notional amount and a $1.7 million mark-to-market value as of July 31, 2026.

Document date · September 17, 2026

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Scope & details

The full contract record, as filed.

Contract amount
$20.4 million swap-guarantor notional; $1.7 million mark-to-market amount
Contract type
FINANCIAL_SERVICES
Contract term
Ongoing interest-rate swap arrangements; settlement expected approximately 36–42 months after construction closing
Renewal
Ongoing swap arrangements; the report states that cash-settled fixed-payer swaps are expected to settle and terminate upon permanent loan conversion, approximately 36–42 months after construction closing.
Document type
AgendaPacket
Source document
California Housing Finance Agency AgendaPacket Public Meeting Agenda and Reports 2026-09-17

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by California Housing Finance Agency?

PNC was awarded this financial services contract by California Housing Finance Agency, as recorded on September 17, 2026. The contract value is $20.4 million swap-guarantor notional; $1.7 million mark-to-market amount.

How much is the PNC contract with California Housing Finance Agency worth?

The PNC contract with California Housing Finance Agency is valued at $20.4 million swap-guarantor notional; $1.7 million mark-to-market amount, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in California Housing Finance Agency AgendaPacket Public Meeting Agenda and Reports 2026-09-17 (AgendaPacket), dated September 17, 2026 from California Housing Finance Agency. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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