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Loans and asset quality (Tables)
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Schedule of Loan Portfolio and Industry Concentrations of Credit Risk
The table below provides the details of our loan portfolio.

LoansSept. 30, 2025Dec. 31, 2024
(in millions)
Commercial$1,333 $1,420 
Commercial real estate6,767 6,782 
Financial institutions13,038 13,167 
Lease financings93 603 
Wealth management loans9,180 8,698 
Wealth management mortgages8,707 8,950 
Other residential mortgages1,767 1,068 
Capital call financing4,990 5,163 
Other3,584 3,063 
Overdrafts2,652 3,519 
Margin loans23,084 19,137 
Total loans (a)
$75,195 $71,570 
(a)    Net of unearned income of $94 million at Sept. 30, 2025 and $230 million at Dec. 31, 2024 primarily related to lease financings.
Summary of Transactions in the Allowance for Credit Losses
Activity in the allowance for credit losses on loans and lending-related commitments is presented below. This does not include activity in the allowance for credit losses related to other financial instruments, including cash and due from banks, interest-bearing deposits with banks, federal funds sold and securities purchased under resale agreements, available-for-sale securities, held-to-maturity securities and accounts receivable.

Allowance for credit losses activity for the quarter ended Sept. 30, 2025
Wealth management loansWealth management mortgagesOther residential mortgagesCapital call financing
(in millions)CommercialCommercial
real estate		Financial
institutions		Total
Beginning balance$13 $291 $25 $1 $6 $2 $7 $345 
Charge-offs— (5)— — — — — (5)
Recoveries— — — — — 1 — 1 
Net (charge-offs) recoveries— (5)— — — 1 — (4)
Provision (a)
(6)4 (3)— — (1)— (6)
Ending balance$7 $290 $22 $1 $6 $2 $7 $335 
Allowance for:
Loan losses$1 $247 $10 $1 $6 $2 $5 $272 
Lending-related commitments6 43 12 — — — 2 63 
Individually evaluated for impairment:
Loan balance (b)
$— $315 $— $— $8 $— $— $323 
Allowance for loan losses— 42 — — — — — 42 
(a)    Does not include the provision for credit losses benefit related to other financial instruments of $1 million for the quarter ended Sept. 30, 2025.
(b)    Includes collateral-dependent loans of $323 million with $350 million of collateral value.
Allowance for credit losses activity for the quarter ended June 30, 2025
Wealth management loansWealth management mortgagesOther residential mortgagesCapital call financing
(in millions)CommercialCommercial
real estate		Financial
institutions		Total
Beginning balance$15 $326 $16 $1 $6 $2 $4 $370 
Charge-offs— (10)— — — — — (10)
Recoveries— 5 — — — — — 5 
Net (charge-offs)— (5)— — — — — (5)
Provision (a)
(2)(30)9 — — — 3 (20)
Ending balance$13 $291 $25 $1 $6 $2 $7 $345 
Allowance for:
Loan losses$2 $245 $13 $1 $6 $2 $6 $275 
Lending-related commitments11 46 12 — — — 1 70 
Individually evaluated for impairment:
Loan balance (b)
$— $198 $— $— $1 $— $— $199 
Allowance for loan losses— 52 — — — — — 52 
(a)    Does not include the provision for credit losses related to other financial instruments of $3 million for the quarter ended June 30, 2025.
(b)    Includes collateral-dependent loans of $199 million with $169 million of collateral value.


Allowance for credit losses activity for the quarter ended Sept. 30, 2024
Wealth management loansWealth management mortgagesOther
residential
mortgages		Capital call financingTotal
(in millions)CommercialCommercial
real estate		Financial
institutions
Beginning balance$27 $298 $21 $1 $6 $3 $3 $359 
Charge-offs— (10)— — — — — (10)
Recoveries— — — — — — — — 
Net (charge-offs)— (10)— — — — — (10)
Provision (a)
3 20 — — — (1)— 22 
Ending balance$30 $308 $21 $1 $6 $2 $3 $371 
Allowance for:
Loan losses$16 $258 $12 $1 $5 $2 $2 $296 
Lending-related commitments14 50 9 — 1 — 1 75 
Individually evaluated for impairment:
Loan balance (b)
$— $273 $— $— $13 $— $— $286 
Allowance for loan losses— 64 — — — — — 64 
(a)    Does not include the provision for credit losses related to other financial instruments of $1 million for the quarter ended Sept. 30, 2024.
(b)    Includes collateral-dependent loans of $286 million with $291 million of collateral value.


Allowance for credit losses activity for the nine months ended Sept. 30, 2025Other
residential
mortgages		Capital call financingTotal
(in millions)CommercialCommercial
real estate		Financial
institutions		Wealth management loansWealth management mortgages
Beginning balance$20 $315 $19 $1 $6 $2 $3 $366 
Charge-offs— (25)— — — — — (25)
Recoveries— 5 — — — 2 — 7 
Net (charge-offs) recoveries— (20)— — — 2 — (18)
Provision (a)
(13)(5)3 — — (2)4 (13)
Ending balance$7 $290 $22 $1 $6 $2 $7 $335 
(a)    Does not include provision for credit losses related to other financial instruments of $7 million for the nine months ended Sept. 30, 2025.
Allowance for credit losses activity for the nine months ended Sept. 30, 2024Other
residential
mortgages		Capital call financingTotal
(in millions)CommercialCommercial
real estate		Financial
institutions		Lease
financings		Wealth management loansWealth management mortgages
Beginning balance$27 $325 $19 $1 $1 $9 $4 $4 $390 
Charge-offs— (53)— — — (1)— — (54)
Recoveries— — — — — — — — — 
Net (charge-offs)— (53)— — — (1)— — (54)
Provision (a)
3 36 2 (1)— (2)(2)(1)35 
Ending balance$30 $308 $21 $— $1 $6 $2 $3 $371 
(a)    Does not include provision for credit losses related to other financial instruments of $15 million for the nine months ended Sept. 30, 2024.
Distribution of Nonperforming Assets
The table below presents our nonperforming assets.

Nonperforming assetsSept. 30, 2025Dec. 31, 2024
Recorded investmentRecorded investment
With an
allowance		Without an allowanceWith an
allowance		Without an allowance
(in millions)TotalTotal
Nonperforming loans:
Commercial real estate$125 $— $125 $104 $39 $143 
Wealth management mortgages9 8 17 6 9 15 
Other residential mortgages16 — 16 18 1 19 
Total nonperforming loans150 8 158 128 49 177 
Other assets owned— 2 2 — 2 2 
Total nonperforming assets$150 $10 $160 $128 $51 $179 
Information about Past Due Loans
The table below presents our past due loans.

Past due loans and still accruing interestSept. 30, 2025Dec. 31, 2024
Days past dueTotal
past due		Days past dueTotal
past due
(in millions)30-5960-89≥9030-5960-89≥90
Commercial real estate$11 $42 $— $53 $15 $— $— $15 
Wealth management loans37 — — 37 47 — — 47 
Other residential mortgages13 4 — 17 7 1 — 8 
Wealth management mortgages— 2 — 2 34 2 — 36 
Total past due loans$61 $48 $— $109 $103 $3 $— $106 
Financing Receivable Credit Quality Indicators
The tables below provide information about the credit profile of the loan portfolio by the period of origination.

Credit profile of the loan portfolioSept. 30, 2025
Revolving loans
Originated, at amortized costAmortized costConverted to term loans – Amortized costAccrued
interest
receivable
(in millions)YTD252024202320222021Prior to 2021
Total (a)
Commercial:
Investment grade$11 $24 $54 $16 $51 $115 $998 $— $1,269 
Non-investment grade14 11 14 — — — 25 — 64 
Total commercial25 35 68 16 51 115 1,023 — 1,333 $1 
Commercial real estate: (b)
Investment grade503 461 616 748 301 1,455 146 — 4,230 
Non-investment grade149 298 219 660 292 854 47 18 2,537 
Total commercial real estate652 759 835 1,408 593 2,309 193 18 6,767 25 
Financial institutions:
Investment grade295 373 75 10 25 42 10,404 — 11,224 
Non-investment grade53 50 — — — — 1,711 — 1,814 
Total financial institutions348 423 75 10 25 42 12,115 — 13,038 119 
Wealth management loans:
Investment grade11 — 29 26 51 91 8,773 175 9,156 
Non-investment grade— — — — — — 24 — 24 
Total wealth management loans11 — 29 26 51 91 8,797 175 9,180 57 
Wealth management mortgages (b)
462 276 766 1,514 1,747 3,927 15 — 8,707 24 
Lease financings— — — — 7 86 — — 93 — 
Other residential mortgages (b)
389 357 173 501 175 172 — — 1,767 6 
Capital call financing230 130 — — — — 4,630 — 4,990 24 
Other loans— — — — — — 3,584 — 3,584 6 
Margin loans10,452 — — — — — 12,632 — 23,084 35 
Total loans$12,569 $1,980 $1,946 $3,475 $2,649 $6,742 $42,989 $193 $72,543 $297 
(a)    Excludes overdrafts of $2,652 million. Overdrafts occur on a daily basis primarily in the custody and securities clearance business and are generally repaid within two business days.
(b)    In the first nine months of 2025, the gross write-offs related to commercial real estate loans were $25 million, wealth management mortgages were $1 million, and other residential mortgages were less than $1 million.
Credit profile of the loan portfolioDec. 31, 2024
Revolving loans
Originated, at amortized costAmortized costConverted to term loans – Amortized costAccrued
interest
receivable
(in millions)20242023202220212020Prior to 2020
Total (a)
Commercial:
Investment grade$41 $69 $20 $55 $— $116 $1,010 $— $1,311 
Non-investment grade14 29 — 17 — — 49 — 109 
Total commercial55 98 20 72 — 116 1,059 — 1,420 $2 
Commercial real estate: (b)
Investment grade396 567 762 392 460 1,384 126 — 4,087 
Non-investment grade335 315 751 351 214 617 94 18 2,695 
Total commercial real estate731 882 1,513 743 674 2,001 220 18 6,782 28 
Financial institutions:
Investment grade491 370 20 26 42 — 10,363 — 11,312 
Non-investment grade131 — 10 — — — 1,714 — 1,855 
Total financial institutions622 370 30 26 42 — 12,077 — 13,167 157 
Wealth management loans:
Investment grade3 29 33 110 33 109 8,261 100 8,678 
Non-investment grade— — — — — — 20 — 20 
Total wealth management loans3 29 33 110 33 109 8,281 100 8,698 50 
Wealth management mortgages (b)
495 798 1,585 1,812 818 3,423 19 — 8,950 23 
Lease financings— — — 10 31 562 — — 603 — 
Other residential mortgages (b)
15 148 529 184 5 187 — — 1,068 4 
Capital call financing91 — — — — — 5,072 — 5,163 28 
Other loans— — — — — — 3,063 — 3,063 6 
Margin loans7,732 — — — — — 11,405 — 19,137 38 
Total loans$9,744 $2,325 $3,710 $2,957 $1,603 $6,398 $41,196 $118 $68,051 $336 
(a)    Excludes overdrafts of $3,519 million. Overdrafts occur on a daily basis primarily in the custody and securities clearance business and are generally repaid within two business days.
(b)    The gross write-offs related to commercial real estate loans were $82 million, other residential mortgage loans were $1 million and wealth management mortgage loans were less than $1 million in 2024.