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Debt securities available-for-sale (Tables) | 9 Months Ended
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Sep. 30, 2024
Investments [Abstract] |
Debt Securities, Available-For-Sale | At September 30, 2024 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield U.S. Treasury securities Within 1 year $ 8,914,560 $ 1,555 $ 45,154 $ 8,870,961 3.77 % After 1 to 5 years 2,715,749 3,393 65,673 2,653,469 2.35 Total U.S. Treasury securities 11,630,309 4,948 110,827 11,524,430 3.44 Collateralized mortgage obligations - federal agencies After 1 to 5 years 12,176 - 393 11,783 1.54 After 5 to 10 years 16,512 - 763 15,749 2.25 After 10 years 107,656 403 7,038 101,021 2.76 Total collateralized mortgage obligations - federal agencies 136,344 403 8,194 128,553 2.59 Mortgage-backed securities - federal agencies Within 1 year 1,393 - 14 1,379 1.69 After 1 to 5 years 74,263 11 1,993 72,281 2.39 After 5 to 10 years 781,628 244 33,408 748,464 2.36 After 10 years 5,603,282 1,480 895,746 4,709,016 1.67 Total mortgage-backed securities - federal agencies 6,460,566 1,735 931,161 5,531,140 1.76 Other Within 1 year 500 - - 500 4.00 After 1 to 5 years 1,500 - - 1,500 8.50 Total other 2,000 - - 2,000 7.38 Total debt securities available-for-sale [1] $ 18,229,219 $ 7,086 $ 1,050,182 $ 17,186,123 2.84 % [1] Includes $ 12.9 billion pledged to secure government and trust deposits, assets sold under agreements to repurchase, credit facilities and loan servicing agreements that the secured parties are not permitted to sell or repledge the collateral, of which $ 12.1 billion serve as collateral for public funds. The Corporation had unpledged Available for Sale securities with a fair value of $ 4.2 billion that could be used to increase its borrowing facilities. At December 31, 2023 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield U.S. Treasury securities Within 1 year $ 7,103,518 $ 526 $ 59,415 $ 7,044,629 3.51 % After 1 to 5 years 3,598,209 84 170,209 3,428,084 1.35 After 5 to 10 years 307,512 - 33,164 274,348 1.63 Total U.S. Treasury securities 11,009,239 610 262,788 10,747,061 2.75 Collateralized mortgage obligations - federal agencies After 1 to 5 years 17,899 - 838 17,061 1.55 After 5 to 10 years 20,503 2 1,321 19,184 2.28 After 10 years 108,280 29 9,868 98,441 2.54 Total collateralized mortgage obligations - federal agencies 146,682 31 12,027 134,686 2.38 Mortgage-backed securities - federal agencies Within 1 year 637 - 3 634 3.72 After 1 to 5 years 82,310 11 3,536 78,785 2.34 After 5 to 10 years 792,431 75 48,250 744,256 2.28 After 10 years 6,067,353 667 1,046,909 5,021,111 1.64 Total mortgage-backed securities - federal agencies 6,942,731 753 1,098,698 5,844,786 1.72 Other Within 1 year 1,011 - - 1,011 4.00 After 1 to 5 years 1,500 - - 1,500 8.50 Total other 2,511 - - 2,511 6.69 Total debt securities available-for-sale [1] $ 18,101,163 $ 1,394 $ 1,373,513 $ 16,729,044 2.35 % [1] Includes $ 12 billion pledged to secure government and trust deposits, assets sold under agreements to repurchase, credit facilities and loan servicing agreements that the secured parties are not permitted to sell or repledge the collateral, of which $ 11.1 billion serve as collateral for public funds. The Corporation had unpledged Available for Sale securities with a fair value of $ 4.6 billion that could be used to increase its borrowing facilities.
Debt Securities Available For Sale Unrealized Loss Position Fair Value | The following tables present the Corporation’s fair value and gross unrealized losses of debt securities available-for-sale, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2024 and December 31, 2023. At September 30, 2024 Less than 12 months 12 months or more Total Gross Gross Gross Fair unrealized Fair unrealized Fair unrealized (In thousands) value losses value losses value losses U.S. Treasury securities $ 651,502 $ 2,369 $ 4,457,595 $ 108,458 $ 5,109,097 $ 110,827 Collateralized mortgage obligations - federal agencies 1,909 2 109,743 8,192 111,652 8,194 Mortgage-backed securities 27,420 569 5,428,612 930,592 5,456,032 931,161 Total debt securities available-for-sale in an unrealized loss position $ 680,831 $ 2,940 $ 9,995,950 $ 1,047,242 $ 10,676,781 $ 1,050,182 At December 31, 2023 Less than 12 months 12 months or more Total Gross Gross Gross Fair unrealized Fair unrealized Fair unrealized (In thousands) value losses value losses value losses U.S. Treasury securities $ 244,925 $ 5,126 $ 6,550,941 $ 257,662 $ 6,795,866 $ 262,788 Collateralized mortgage obligations - federal agencies 5,234 35 124,930 11,992 130,164 12,027 Mortgage-backed securities 37,118 405 5,779,260 1,098,293 5,816,378 1,098,698 Total debt securities available-for-sale in an unrealized loss position $ 287,277 $ 5,566 $ 12,455,131 $ 1,367,947 $ 12,742,408 $ 1,373,513

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