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v3.26.1

Securities Financing Activities (Tables) | 6 Months Ended
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Jun. 30, 2026
Offsetting [Abstract] |
Offsetting Assets | The following table presents the Company's securities financing transactions, including those executed under master netting (or similar) arrangements. Refer to “Note 14. Derivative Financial Instruments“ for information about the Company's derivative instruments subject to master netting (or similar) arrangements.
|  |  |  |  |  | June 30, 2026 |  |
(Dollars in millions) |  |  |  |  |  | Amount in Consolidated Balance Sheets |  | Amount Not Offset in Consolidated Balance Sheets |  | Received/Pledged Financial Instruments(1) |  | Net Amount |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities purchased under agreements to resell |  |  |  |  |  | $ | 1,743 |  |  | $ | (71) |  |  | $ | (1,661) |  |  | $ | 11 |  |  |  |  |  |  |  |  |  |  |  |  |
Securities borrowed |  |  |  |  | 2,688 |  |  | — |  |  | (2,640) |  |  | 48 |  |  |  |  |  |  |  |  |  |  |  |
Total securities borrowed or purchased under agreements to resell |  |  |  |  | $ | 4,431 |  |  | $ | (71) |  |  | $ | (4,301) |  |  | $ | 59 |  |  |  |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities sold under agreements to repurchase |  |  |  |  |  | $ | (5,871) |  |  | $ | 71 |  |  | $ | 5,800 |  |  | $ | — |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | December 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Amount in Consolidated Balance Sheets |  | Amount Not Offset in Consolidated Balance Sheets |  | Received/Pledged Financial Instruments(1) |  | Net Amount |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities purchased under agreements to resell |  |  |  |  |  | $ | 1,313 |  |  | $ | (78) |  |  | $ | (1,223) |  |  | $ | 12 |  |  |  |  |  |  |  |  |  |  |  |  |
Securities borrowed |  |  |  |  |  | 1,887 |  |  | — |  |  | (1,835) |  |  | 52 |  |  |  |  |  |  |  |  |  |  |  |  |
Total securities borrowed or purchased under agreements to resell |  |  |  |  |  | $ | 3,200 |  |  | $ | (78) |  |  | $ | (3,058) |  |  | $ | 64 |  |  |  |  |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities sold under agreements to repurchase |  |  |  |  |  | $ | (3,103) |  |  | $ | 78 |  |  | $ | 3,025 |  |  | $ | — |  |  |  |  |  |  |  |  |  |  |  |  |
(1)The fair value of received/pledged financial instruments is limited to the carrying amount of the associated asset or liability. The fair value of securities received that was permitted to be resold or repledged was $4.4 billion as of June 30, 2026 and $3.1 billion as of December 31, 2025. Of the fair value of securities permitted to be resold or repledged, the fair value of securities repledged or resold was $3.0 billion as of June 30, 2026 and $2.2 billion as of December 31, 2025.
Offsetting Liabilities | The following table presents the Company's securities financing transactions, including those executed under master netting (or similar) arrangements. Refer to “Note 14. Derivative Financial Instruments“ for information about the Company's derivative instruments subject to master netting (or similar) arrangements.
|  |  |  |  |  | June 30, 2026 |  |
(Dollars in millions) |  |  |  |  |  | Amount in Consolidated Balance Sheets |  | Amount Not Offset in Consolidated Balance Sheets |  | Received/Pledged Financial Instruments(1) |  | Net Amount |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities purchased under agreements to resell |  |  |  |  |  | $ | 1,743 |  |  | $ | (71) |  |  | $ | (1,661) |  |  | $ | 11 |  |  |  |  |  |  |  |  |  |  |  |  |
Securities borrowed |  |  |  |  | 2,688 |  |  | — |  |  | (2,640) |  |  | 48 |  |  |  |  |  |  |  |  |  |  |  |
Total securities borrowed or purchased under agreements to resell |  |  |  |  | $ | 4,431 |  |  | $ | (71) |  |  | $ | (4,301) |  |  | $ | 59 |  |  |  |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities sold under agreements to repurchase |  |  |  |  |  | $ | (5,871) |  |  | $ | 71 |  |  | $ | 5,800 |  |  | $ | — |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | December 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Amount in Consolidated Balance Sheets |  | Amount Not Offset in Consolidated Balance Sheets |  | Received/Pledged Financial Instruments(1) |  | Net Amount |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities purchased under agreements to resell |  |  |  |  |  | $ | 1,313 |  |  | $ | (78) |  |  | $ | (1,223) |  |  | $ | 12 |  |  |  |  |  |  |  |  |  |  |  |  |
Securities borrowed |  |  |  |  |  | 1,887 |  |  | — |  |  | (1,835) |  |  | 52 |  |  |  |  |  |  |  |  |  |  |  |  |
Total securities borrowed or purchased under agreements to resell |  |  |  |  |  | $ | 3,200 |  |  | $ | (78) |  |  | $ | (3,058) |  |  | $ | 64 |  |  |  |  |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities sold under agreements to repurchase |  |  |  |  |  | $ | (3,103) |  |  | $ | 78 |  |  | $ | 3,025 |  |  | $ | — |  |  |  |  |  |  |  |  |  |  |  |  |
(1)The fair value of received/pledged financial instruments is limited to the carrying amount of the associated asset or liability. The fair value of securities received that was permitted to be resold or repledged was $4.4 billion as of June 30, 2026 and $3.1 billion as of December 31, 2025. Of the fair value of securities permitted to be resold or repledged, the fair value of securities repledged or resold was $3.0 billion as of June 30, 2026 and $2.2 billion as of December 31, 2025.
Repurchase Agreements | The following table presents additional information related to the Company’s securities sold under agreements to repurchase, by collateral type and remaining contractual maturity:
| June 30, 2026 |  | December 31, 2025
(Dollars in millions) | Overnight and Continuous |  | Up to 30 days |  |  |  | Total |  | Overnight and Continuous |  | Up to 30 days |  |  |  | Total
U.S. Treasury | $ | 71 |  |  | $ | — |  |  |  |  | $ | 71 |  |  | $ | 78 |  |  | $ | — |  |  |  |  | $ | 78 |
State and Municipal | 42 |  |  | — |  |  |  |  | 42 |  |  | 100 |  |  | — |  |  |  |  | 100 |
Agency MBS – residential | — |  |  | 1,150 |  |  |  |  | 1,150 |  |  | — |  |  | 298 |  |  |  |  | 298 |
Corporate and other debt securities | 308 |  |  | 4,300 |  |  |  |  | 4,608 |  |  | 300 |  |  | 2,327 |  |  |  |  | 2,627 |
Total securities sold under agreements to repurchase | $ | 421 |  |  | $ | 5,450 |  |  |  |  | $ | 5,871 |  |  | $ | 478 |  |  | $ | 2,625 |  |  |  |  | $ | 3,103 |

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