XML 35 R23.htm IDEA: XBRL DOCUMENT
v3.25.3

Fair value measurement | 9 Months Ended
--- | ---
Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Fair value measurement | Fair value measurement Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. A three-level hierarchy for fair value measurements is utilized based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. BNY’s own creditworthiness is considered when valuing liabilities. See Note 20 of the Notes to Consolidated Financial Statements in our 2024 Annual Report for information on how we determine fair value and the fair value hierarchy. The following tables present the financial instruments carried at fair value at Sept. 30, 2025 and Dec. 31, 2024, by caption on the consolidated balance sheet and by the three-level valuation hierarchy. We have included credit ratings information in certain of the tables because the information indicates the degree of credit risk to which we are exposed, and significant changes in ratings classifications could result in increased risk for us.
Assets and liabilities measured at fair value on a recurring basis at Sept. 30, 2025 | Total carrying value
(dollars in millions) | Level 1 | Level 2 | Level 3 | Netting (a)
Assets: |  |  |  |  |
Available-for-sale securities: |  |  |  |  |
Non-U.S. government (b) | $ | 7,035 |  | $ | 21,460 |  | $ | — |  | $ | — |  | $ | 28,495 |
U.S. Treasury | 24,226 |  | — |  | — |  | — |  | 24,226 |
Agency RMBS | — |  | 21,017 |  | — |  | — |  | 21,017 |
Foreign covered bonds | — |  | 7,762 |  | — |  | — |  | 7,762 |
Agency commercial MBS | — |  | 6,785 |  | — |  | — |  | 6,785 |
CLOs | — |  | 6,125 |  | — |  | — |  | 6,125 |
Non-agency commercial MBS | — |  | 2,210 |  | — |  | — |  | 2,210 |
U.S. government agencies | — |  | 1,560 |  | — |  | — |  | 1,560 |
Non-agency RMBS | — |  | 1,407 |  | — |  | — |  | 1,407 |
Other ABS | — |  | 402 |  | — |  | — |  | 402 |
Total available-for-sale securities | 31,261 |  | 68,728 |  | — |  | — |  | 99,989 |
Trading assets: |  |  |  |  |
Debt instruments | 1,914 |  | 3,107 |  | — |  | — |  | 5,021 |
Equity instruments | 7,185 |  | — |  | — |  | — |  | 7,185 |
Derivative assets not designated as hedging: |  |  |  |  |
Interest rate | 5 |  | 754 |  | — |  | — |  | 759 |
Foreign exchange | — |  | 4,171 |  | — |  | — |  | 4,171 |
Equity and other contracts | — |  | 13 |  | — |  | — |  | 13 |
Netting agreements |  |  |  | (3,524) |  | (3,524) |
Total derivative assets not designated as hedging | 5 |  | 4,938 |  | — |  | (3,524) |  | 1,419 |
Total trading assets | 9,104 |  | 8,045 |  | — |  | (3,524) |  | 13,625 |
Other assets: |  |  |  |  |
Derivative assets designated as hedging: |  |  |  |  |
Interest rate | — |  | 280 |  | — |  | — |  | 280 |
Foreign exchange | — |  | 48 |  | — |  | — |  | 48 |
Total derivative assets designated as hedging | — |  | 328 |  | — |  | — |  | 328 |
Other assets (c) | 541 |  | 585 |  | — |  | — |  | 1,126 |
Total other assets | 541 |  | 913 |  | — |  | — |  | 1,454 |
Assets measured at NAV (c) |  |  |  |  | 154 |
Total assets | $ | 40,906 |  | $ | 77,686 |  | $ | — |  | $ | (3,524) |  | $ | 115,222 |
Percentage of total assets prior to netting | 34 | % | 66 | % | — | % |  |
Liabilities: |  |  |  |  |
Trading liabilities: |  |  |  |  |
Debt instruments | $ | 2,456 |  | $ | 82 |  | $ | — |  | $ | — |  | $ | 2,538 |
Equity instruments | 76 |  | — |  | — |  | — |  | 76 |
Derivative liabilities not designated as hedging: |  |  |  |  |
Interest rate | 2 |  | 960 |  | — |  | — |  | 962 |
Foreign exchange | — |  | 4,015 |  | — |  | — |  | 4,015 |
Equity and other contracts | 1 |  | 185 |  | — |  | — |  | 186 |
Netting agreements |  |  |  | (4,278) |  | (4,278) |
Total derivative liabilities not designated as hedging | 3 |  | 5,160 |  | — |  | (4,278) |  | 885 |
Total trading liabilities | 2,535 |  | 5,242 |  | — |  | (4,278) |  | 3,499 |
Other liabilities: |  |  |  |  |
Derivative liabilities designated as hedging: |  |  |  |  |
Foreign exchange | — |  | 357 |  | — |  | — |  | 357 |
Total derivative liabilities designated as hedging | — |  | 357 |  | — |  | — |  | 357 |
Other liabilities | 506 |  | 9 |  | — |  | — |  | 515 |
Total other liabilities | 506 |  | 366 |  | — |  | — |  | 872 |
Total liabilities | $ | 3,041 |  | $ | 5,608 |  | $ | — |  | $ | (4,278) |  | $ | 4,371 |
Percentage of total liabilities prior to netting | 35 | % | 65 | % | — | % |  |
(a) ASC 815, Derivatives and Hedging, permits the netting of derivative receivables and derivative payables under legally enforceable master netting agreements and permits the netting of cash collateral. Netting is applicable to derivatives not designated as hedging instruments included in trading assets or trading liabilities and derivatives designated as hedging instruments included in other assets or other liabilities. Netting is allocated to the derivative products based on the net fair value of each product. (b) Includes supranational securities. (c) Includes seed capital, private equity investments and other assets.
Assets and liabilities measured at fair value on a recurring basis at Dec. 31, 2024 | Total carrying value
(dollars in millions) | Level 1 | Level 2 | Level 3 | Netting (a)
Assets: |  |  |  |  |
Available-for-sale securities: |  |  |  |  |
Non-U.S. government (b) | $ | 4,780 |  | $ | 19,967 |  | $ | — |  | $ | — |  | $ | 24,747 |
Agency RMBS | — |  | 19,900 |  | — |  | — |  | 19,900 |
U.S. Treasury | 16,403 |  | — |  | — |  | — |  | 16,403 |
Agency commercial MBS | — |  | 7,225 |  | — |  | — |  | 7,225 |
Foreign covered bonds | — |  | 7,068 |  | — |  | — |  | 7,068 |
CLOs | — |  | 5,819 |  | — |  | — |  | 5,819 |
Non-agency commercial MBS | — |  | 2,487 |  | — |  | — |  | 2,487 |
U.S. government agencies | — |  | 2,289 |  | — |  | — |  | 2,289 |
Non-agency RMBS | — |  | 1,478 |  | — |  | — |  | 1,478 |
Other ABS | — |  | 615 |  | — |  | — |  | 615 |
Total available-for-sale securities | 21,183 |  | 66,848 |  | — |  | — |  | 88,031 |
Trading assets: |  |  |  |  |
Debt instruments | 2,268 |  | 3,007 |  | — |  | — |  | 5,275 |
Equity instruments | 5,781 |  | — |  | — |  | — |  | 5,781 |
Derivative assets not designated as hedging: |  |  |  |  |
Interest rate | 2 |  | 833 |  | — |  | — |  | 835 |
Foreign exchange | — |  | 10,559 |  | — |  | — |  | 10,559 |
Equity and other contracts | 6 |  | 137 |  | — |  | — |  | 143 |
Netting agreements |  |  |  | (8,612) |  | (8,612) |
Total derivative assets not designated as hedging | 8 |  | 11,529 |  | — |  | (8,612) |  | 2,925 |
Total trading assets | 8,057 |  | 14,536 |  | — |  | (8,612) |  | 13,981 |
Other assets: |  |  |  |  |
Derivative assets designated as hedging: |  |  |  |  |
Interest rate | — |  | 326 |  | — |  | — |  | 326 |
Foreign exchange | — |  | 455 |  | — |  | — |  | 455 |
Total derivative assets designated as hedging | — |  | 781 |  | — |  | — |  | 781 |
Other assets (c) | 532 |  | 686 |  | — |  | — |  | 1,218 |
Total other assets | 532 |  | 1,467 |  | — |  | — |  | 1,999 |
Assets measured at NAV (c) |  |  |  |  | 152 |
Total assets | $ | 29,772 |  | $ | 82,851 |  | $ | — |  | $ | (8,612) |  | $ | 104,163 |
Percentage of total assets prior to netting | 26 | % | 74 | % | — | % |  |
Liabilities: |  |  |  |  |
Trading liabilities: |  |  |  |  |
Debt instruments | $ | 1,931 |  | $ | 18 |  | $ | — |  | $ | — |  | $ | 1,949 |
Equity instruments | 52 |  | — |  | — |  | — |  | 52 |
Derivative liabilities not designated as hedging: |  |  |  |  |
Interest rate | 9 |  | 1,201 |  | — |  | — |  | 1,210 |
Foreign exchange | — |  | 10,636 |  | — |  | — |  | 10,636 |
Equity and other contracts | — |  | 51 |  | — |  | — |  | 51 |
Netting agreements |  |  |  | (9,033) |  | (9,033) |
Total derivative liabilities not designated as hedging | 9 |  | 11,888 |  | — |  | (9,033) |  | 2,864 |
Total trading liabilities | 1,992 |  | 11,906 |  | — |  | (9,033) |  | 4,865 |
Other liabilities: |  |  |  |  |
Derivative liabilities designated as hedging: |  |  |  |  |
Foreign exchange | — |  | 12 |  | — |  | — |  | 12 |
Total derivative liabilities designated as hedging | — |  | 12 |  | — |  | — |  | 12 |
Other liabilities | 400 |  | 10 |  | — |  | — |  | 410 |
Total other liabilities | 400 |  | 22 |  | — |  | — |  | 422 |
Total liabilities | $ | 2,392 |  | $ | 11,928 |  | $ | — |  | $ | (9,033) |  | $ | 5,287 |
Percentage of total liabilities prior to netting | 17 | % | 83 | % | — | % |  |
(a) ASC 815, Derivatives and Hedging, permits the netting of derivative receivables and derivative payables under legally enforceable master netting agreements and permits the netting of cash collateral. Netting is applicable to derivatives not designated as hedging instruments included in trading assets or trading liabilities and derivatives designated as hedging instruments included in other assets or other liabilities. Netting is allocated to the derivative products based on the net fair value of each product. (b) Includes supranational securities. (c) Includes seed capital, private equity investments and other assets.
Details of certain available-for-sale securities measured at fair value on a recurring basis | Sept. 30, 2025 |  | Dec. 31, 2024
Total carrying value (b) |  | Ratings (a) |  | Total carrying value (b) |  | Ratings (a)
AAA/ AA- | A+/ A- | BBB+/ BBB- | BB+ and lower | Not rated |  | AAA/ AA- | A+/ A- | BBB+/ BBB- | BB+ and lower | Not rated
(dollars in millions) |  |
Non-agency RMBS, originated in: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2008-2025 | $ | 1,401 |  |  | 100 | % | — | % | — | % | — | % | — | % |  | $ | 1,453 |  |  | 98 | % | 2 | % | — | % | — | % | — | %
2007 and earlier | 6 |  |  | — |  | 100 |  | — |  | — |  | — |  |  | 25 |  |  | — |  | 100 |  | — |  | — |  | — |
Total non-agency RMBS | $ | 1,407 |  |  | 100 | % | — | % | — | % | — | % | — | % |  | $ | 1,478 |  |  | 98 | % | 2 | % | — | % | — | % | — | %
Non-agency commercial MBS originated in: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2009-2025 | $ | 2,210 |  |  | 100 | % | — | % | — | % | — | % | — | % |  | $ | 2,487 |  |  | 100 | % | — | % | — | % | — | % | — | %
Foreign covered bonds: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Canada | $ | 1,932 |  |  | 100 | % | — | % | — | % | — | % | — | % |  | $ | 2,113 |  |  | 100 | % | — | % | — | % | — | % | — | %
UK | 1,011 |  |  | 100 |  | — |  | — |  | — |  | — |  |  | 911 |  |  | 100 |  | — |  | — |  | — |  | — |
Australia | 778 |  |  | 100 |  | — |  | — |  | — |  | — |  |  | 574 |  |  | 100 |  | — |  | — |  | — |  | — |
Germany | 743 |  |  | 100 |  | — |  | — |  | — |  | — |  |  | 598 |  |  | 100 |  | — |  | — |  | — |  | — |
Singapore | 596 |  |  | 100 |  | — |  | — |  | — |  | — |  |  | 554 |  |  | 100 |  | — |  | — |  | — |  | — |
Netherlands | 531 |  |  | 100 |  | — |  | — |  | — |  | — |  |  | 465 |  |  | 100 |  | — |  | — |  | — |  | — |
Other | 2,171 |  |  | 100 |  | — |  | — |  | — |  | — |  |  | 1,853 |  |  | 100 |  | — |  | — |  | — |  | — |
Total foreign covered bonds | $ | 7,762 |  |  | 100 | % | — | % | — | % | — | % | — | % |  | $ | 7,068 |  |  | 100 | % | — | % | — | % | — | % | — | %
Non-U.S. government: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
UK | $ | 4,395 |  |  | 100 | % | — | % | — | % | — | % | — | % |  | $ | 3,383 |  |  | 100 | % | — | % | — | % | — | % | — | %
France | 2,288 |  |  | 100 |  | — |  | — |  | — |  | — |  |  | 1,732 |  |  | 100 |  | — |  | — |  | — |  | — |
Germany | 2,094 |  |  | 100 |  | — |  | — |  | — |  | — |  |  | 2,308 |  |  | 100 |  | — |  | — |  | — |  | — |
Canada | 1,880 |  |  | 90 |  | 10 |  | — |  | — |  | — |  |  | 1,463 |  |  | 100 |  | — |  | — |  | — |  | — |
Netherlands | 1,823 |  |  | 100 |  | — |  | — |  | — |  | — |  |  | 705 |  |  | 100 |  | — |  | — |  | — |  | — |
Austria | 743 |  |  | 100 |  | — |  | — |  | — |  | — |  |  | 388 |  |  | 100 |  | — |  | — |  | — |  | — |
Finland | 716 |  |  | 100 |  | — |  | — |  | — |  | — |  |  | 527 |  |  | 100 |  | — |  | — |  | — |  | — |
Spain | 629 |  |  | — |  | 100 |  | — |  | — |  | — |  |  | 617 |  |  | — |  | 2 |  | 98 |  | — |  | — |
Japan | 464 |  |  | — |  | 100 |  | — |  | — |  | — |  |  | 377 |  |  | — |  | 100 |  | — |  | — |  | — |
Belgium | 362 |  |  | 100 |  | — |  | — |  | — |  | — |  |  | 728 |  |  | 100 |  | — |  | — |  | — |  | — |
Other (c) | 1,542 |  |  | 56 |  | 32 |  | 3 |  | 9 |  | — |  |  | 1,536 |  |  | 68 |  | 19 |  | 4 |  | 9 |  | — |
Supranational | 11,559 |  |  | 100 |  | — |  | — |  | — |  | — |  |  | 10,983 |  |  | 100 |  | — |  | — |  | — |  | — |
Total non-U.S. government | $ | 28,495 |  |  | 93 | % | 6 | % | — | % | 1 | % | — | % |  | $ | 24,747 |  |  | 94 | % | 3 | % | 3 | % | — | % | — | %
(a) Represents ratings by S&P or the equivalent. (b) At Sept. 30, 2025 and Dec. 31, 2024, non-U.S. government securities were included in Level 1 and Level 2 in the valuation hierarchy. All other assets in the table are Level 2 assets in the valuation hierarchy. (c) Includes non-investment grade non-U.S. government securities related to Brazil of $139 million at Sept. 30, 2025 and $135 million at Dec. 31, 2024. Assets and liabilities measured at fair value on a nonrecurring basis Under certain circumstances, we make adjustments to the fair value of our assets, liabilities and unfunded lending-related commitments, although they are not measured at fair value on an ongoing basis. The following table presents the carrying value as of Sept. 30, 2025 and Dec. 31, 2024 of financial instruments for which nonrecurring adjustments to fair value have been recorded during 2025 and/or 2024 and all non-readily marketable equity securities carried at cost with upward or downward adjustments by balance sheet caption and level in the fair value hierarchy.
Assets measured at fair value on a nonrecurring basis | Sept. 30, 2025 |  | Dec. 31, 2024
|  |  |  | Total carrying value |  |  |  |  | Total carrying value
(in millions) | Level 1 | Level 2 | Level 3 |  |  | Level 1 | Level 2 | Level 3
Loans (a) | $ | — |  | $ | 22 |  | $ | — |  |  | $ | 22 |  |  | $ | — |  | $ | 25 |  | $ | — |  | $ | 25 |
Other assets (b) | — |  | 475 |  | — |  |  | 475 |  |  | — |  | 414 |  | — |  | 414 |
Total assets at fair value on a nonrecurring basis | $ | — |  | $ | 497 |  | $ | — |  |  | $ | 497 |  |  | $ | — |  | $ | 439 |  | $ | — |  | $ | 439 |
(a) The fair value of these loans decreased less than $1 million in the third quarter of 2025 and the fourth quarter of 2024 based on the fair value of the underlying collateral, as required by guidance in ASC 326, Financial Instruments – Credit Losses, with an offset to the allowance for credit losses. (b) Includes non-readily marketable equity securities carried at cost with upward or downward adjustments and other assets received in satisfaction of debt. Estimated fair value of financial instruments The following tables present the estimated fair value and the carrying amount of financial instruments not carried at fair value on the consolidated balance sheet at Sept. 30, 2025 and Dec. 31, 2024, by caption on the consolidated balance sheet and by the valuation hierarchy.
Summary of financial instruments | Sept. 30, 2025
(in millions) | Level 1 | Level 2 | Level 3 | Total estimated fair value | Carrying amount
Assets: |  |  |  |  |
Interest-bearing deposits with the Federal Reserve and other central banks | $ | — |  | $ | 106,368 |  | $ | — |  | $ | 106,368 |  | $ | 106,368 |
Interest-bearing deposits with banks | — |  | 11,028 |  | — |  | 11,028 |  | 11,027 |
Federal funds sold and securities purchased under resale agreements | — |  | 41,863 |  | — |  | 41,863 |  | 41,863 |
Securities held-to-maturity | 11,014 |  | 35,500 |  | — |  | 46,514 |  | 49,539 |
Loans (a) | — |  | 73,881 |  | — |  | 73,881 |  | 74,830 |
Other financial assets | 5,055 |  | 2,484 |  | — |  | 7,539 |  | 7,539 |
Total | $ | 16,069 |  | $ | 271,124 |  | $ | — |  | $ | 287,193 |  | $ | 291,166 |
Liabilities: |  |  |  |  |
Noninterest-bearing deposits | $ | — |  | $ | 59,647 |  | $ | — |  | $ | 59,647 |  | $ | 59,647 |
Interest-bearing deposits | — |  | 248,801 |  | — |  | 248,801 |  | 255,050 |
Federal funds purchased and securities sold under repurchase agreements | — |  | 16,585 |  | — |  | 16,585 |  | 16,585 |
Payables to customers and broker-dealers | — |  | 23,638 |  | — |  | 23,638 |  | 23,638 |
Commercial paper | — |  | 2,364 |  | — |  | 2,364 |  | 2,364 |
Borrowings | — |  | 1,138 |  | — |  | 1,138 |  | 1,138 |
Long-term debt | — |  | 32,591 |  | — |  | 32,591 |  | 32,287 |
Total | $ | — |  | $ | 384,764 |  | $ | — |  | $ | 384,764 |  | $ | 390,709 |
(a) Does not include the leasing portfolio.
Summary of financial instruments | Dec. 31, 2024
(in millions) | Level 1 | Level 2 | Level 3 | Total estimated fair value | Carrying amount
Assets: |  |  |  |  |
Interest-bearing deposits with the Federal Reserve and other central banks | $ | — |  | $ | 89,546 |  | $ | — |  | $ | 89,546 |  | $ | 89,546 |
Interest-bearing deposits with banks | — |  | 9,617 |  | — |  | 9,617 |  | 9,612 |
Federal funds sold and securities purchased under resale agreements | — |  | 41,146 |  | — |  | 41,146 |  | 41,146 |
Securities held-to-maturity | 10,016 |  | 34,004 |  | — |  | 44,020 |  | 48,596 |
Loans (a) | — |  | 69,738 |  | — |  | 69,738 |  | 70,673 |
Other financial assets | 4,178 |  | 2,271 |  | — |  | 6,449 |  | 6,449 |
Total | $ | 14,194 |  | $ | 246,322 |  | $ | — |  | $ | 260,516 |  | $ | 266,022 |
Liabilities: |  |  |  |  |
Noninterest-bearing deposits | $ | — |  | $ | 58,267 |  | $ | — |  | $ | 58,267 |  | $ | 58,267 |
Interest-bearing deposits | — |  | 226,799 |  | — |  | 226,799 |  | 231,257 |
Federal funds purchased and securities sold under repurchase agreements | — |  | 14,064 |  | — |  | 14,064 |  | 14,064 |
Payables to customers and broker-dealers | — |  | 20,073 |  | — |  | 20,073 |  | 20,073 |
Commercial paper | — |  | 301 |  | — |  | 301 |  | 301 |
Borrowings | — |  | 941 |  | — |  | 941 |  | 941 |
Long-term debt | — |  | 30,351 |  | — |  | 30,351 |  | 30,854 |
Total | $ | — |  | $ | 350,796 |  | $ | — |  | $ | 350,796 |  | $ | 355,757 |
(a) Does not include the leasing portfolio.

X
- Definition This element represents the disclosure related to the fair value measurement of assets and liabilities which includes financial instruments measured at fair value that are classified as stockholders' equity. + References No definition available. + Details
Name: | bk_FairValueMeasurementInputsTextBlock
Namespace Prefix: | bk_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration