PNC FIRST Program

The Customer Interest Rate Swap
and Derivatives Program for
Financial Institutions

The PNC Difference:
A Financial Institution Serving Financial Institutions

PNC Bank, National Association, a registered swap dealer with the CFTC, delivers diverse support to financial institutions by offering assistance with macro/balance-sheet hedging strategies, derivative execution capabilities and our customer swap solution - PNC FIRST Program.

The PNC FIRST (Fixed Interest Rate Swap Transaction) Program is a comprehensive and turn-key customer interest rate risk management program that provides assistance at every stage of the deal lifecycle and helps you potentially:

  • Manage interest rate risk
  • Generate fee income
  • Lower funding costs
  • Broaden your product offerings

What PNC FIRST Program Offers

Sales Support


PNC provides structuring insights, general support and swap presentations for use during your swap education discussions and subsequent trade execution with your commercial customers.

Internal Education


PNC conducts training for lending, operations, credit and finance teams and communicates best practices for you to establish risk management policies and define step-by-step procedures.

Operational Support

PNC offers a full suite of white-labeled customer documentation for each trade and on-going assistance throughout the trade lifecycle.

Customer Documentation

PNC assists with the creation and retention of pre-trade, form documentation including ISDA agreements, ECP and End-User eligibility certificates as well as trade confirmations.

Dodd-Frank Compliance

PNC reports trades to the SDR on your behalf and provides template certificates for you to ensure your compliance with Title VII.

Accounting Support


PNC creates reports containing information that can facilitate your accounting entries and call report completion while also providing access to independent, third-party valuations for your hedge inception documentation and hedge effectiveness assessments (where applicable).

Online Platform


PNC has created a centralized web portal that includes a collateral management tool, detailed summaries of executed trades, white-labeled customer documentation, a Swap Pricer tool and much more.

Pricing & Execution


PNC (trading as PNC Bank, N.A., one of the largest U.S. swap dealers) publishes an indicative daily pricing sheet, updates customized structures regularly, generates trade-specific scenario analyses and efficiently executes all trade types with you.

View PNC FIRST Website

How You Can Benefit

Engage a Highly-Rated, [1]
Registered Swap Dealer and
Relationship Focused-Team

Our qualified derivative professionals function as an extension of your internal team to help you to identify, sell and execute new hedging opportunities.

Access Your
Information
Quickly and Easily

Our innovative web portal has valuable functionality for executives, relationship managers, finance and operations specialists from management dashboards to full portfolio reconciliation and other unique capabilities.


Design a Fully
Customized Program

  • Tailor and scale the PNC FIRST program to meet the specific hedging needs of your bank and the borrowing needs of your commercial loan customers.
  • We offer complete cost transparency with contractually guaranteed costs and disclose the mid-market rate on every trade we execute with you.
  • PNC’s cost is your bank’s only hedging cost as PNC acts as your swap counterparty and derivatives support provider.
  • There is no burdensome annual fee for our services and no minimums required, both of which might otherwise increase your bank’s per-trade cost.

Receive Comprehensive Support from a Single Dedicated Source

Initial training and on-going assistance is available beginning with on-boarding and throughout each individual deal life-cycle from prospecting to execution. Relevant information related to collateral management, payments, accounting and reporting is streamlined through one source, relieving operational burdens on your bank.

20,180 +

PNC manages
over 20,180 derivative transactions [2]

$475 Billion +

PNC is currently managing a swap trading book
of over $475 billion [2]

Let Our Experience Lead the Way

  • PNC provides general swap market insights, marketing materials, documentation preparation and support for your swap education discussions.
  • Indicative pricing updates are provided via quote or the online Swap Pricer.
  • Operational support includes distribution of trade confirmations, reset notices, payment advices and mark-to-market letters for each deal.
  • ACH integration is available to ease payment processing.
  • Monthly reports provide information for you to complete swap accounting entries, call report filing and other analysis.
  • Relevant market commentary, regulatory and compliance guidance is communicated quickly.

Hablemos

To learn more about PNC FIRST, please fill out the form below and we’ll be in touch.