XML 55 R30.htm IDEA: XBRL DOCUMENT
v3.25.3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Summary of Derivative Instruments [Abstract] |
Schedule of Derivative Amounts | The following schedule presents derivative notional amounts and recorded gross fair values at September 30, 2025 and December 31, 2024:
| September 30, 2025 |  | December 31, 2024
| Notional amount |  | Fair value |  | Notional amount |  | Fair value
(In millions) | Other assets |  | Other liabilities |  | Other assets |  | Other liabilities
Derivatives designated as accounting hedges: |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |
Hedges of floating-rate assets | $ | 1,250 |  |  | $ | 7 |  |  | $ | — |  |  | $ | 550 |  |  | $ | — |  |  | $ | 2 |
Hedges of floating-rate liabilities | — |  |  | — |  |  | — |  |  | 500 |  |  | — |  |  | — |
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |
Hedges of fixed-rate assets 1 | 7,479 |  |  | 77 |  |  | — |  |  | 4,668 |  |  | 93 |  |  | — |
Hedges of fixed-rate liabilities | 1,000 |  |  | — |  |  | — |  |  | 500 |  |  | — |  |  | — |
Total derivatives designated as accounting hedges | 9,729 |  |  | 84 |  |  | — |  |  | 6,218 |  |  | 93 |  |  | 2 |
Derivatives not designated as accounting hedges: 2 |  |  |  |  |  |  |  |  |  |  |
Customer interest rate derivatives | 19,067 |  |  | 263 |  |  | 255 |  |  | 16,833 |  |  | 348 |  |  | 346 |
Customer commodity derivatives | 205 |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |
Other interest rate derivatives | 1,259 |  |  | 2 |  |  | — |  |  | 1,105 |  |  | 1 |  |  | — |
Foreign exchange derivatives 3 | 579 |  |  | 3 |  |  | 1 |  |  | 373 |  |  | 4 |  |  | 2 |
Purchased credit derivatives | 60 |  |  | — |  |  | — |  |  | 24 |  |  | — |  |  | — |
Total derivatives not designated as accounting hedges | 21,170 |  |  | 269 |  |  | 257 |  |  | 18,335 |  |  | 353 |  |  | 348 |
Total derivatives | $ | 30,899 |  |  | $ | 353 |  |  | $ | 257 |  |  | $ | 24,553 |  |  | $ | 446 |  |  | $ | 350 |
1 Includes forward-starting swaps that are not yet effective. 2 We provide certain borrowers with access to over-the-counter derivatives. To manage the associated exposures, we typically enter into offsetting derivative transactions with dealers or central clearing houses, which include terms that closely mirror those of the original borrower transactions. Notional amounts for derivatives that are not designated as accounting hedges include both customer-facing derivatives and offsetting dealer-facing derivatives. 3 Includes both spot and forward FX trades.
Schedule of Derivative Gains (Losses) Deferred in OCI or Recognized in Earnings | The following schedules present the gains and losses from derivative instruments designated as cash flow and fair value hedges, either deferred in AOCI or recognized in earnings for the three and nine months ended September 30, 2025 and 2024:
| Three Months Ended September 30, 2025 |  | Three Months Ended September 30, 2024 |  |
(In millions) | Effective portion of derivative gain (loss) deferred in AOCI |  |  |  | Amount of gain (loss) reclassified from AOCI into income |  | Interest on fair value hedges |  | Effective portion of derivative gain (loss) deferred in AOCI |  | Amount of gain (loss) reclassified from AOCI into income |  | Interest on fair value hedges |  |
Cash flow hedges: 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedges of floating-rate assets | $ | — |  |  |  |  | $ | (15) |  |  | $ | — |  |  | $ | 5 |  |  | $ | (30) |  |  | $ | — |  |  |
Hedges of floating-rate liabilities | — |  |  |  |  | — |  |  | — |  |  | (2) |  |  | 2 |  |  | — |  |  |
Fair value hedges: 2 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedges of fixed-rate assets | — |  |  |  |  | — |  |  | 15 |  |  | — |  |  | — |  |  | 24 |  |  |
Hedges of fixed-rate liabilities | — |  |  |  |  | — |  |  | (3) |  |  | — |  |  | — |  |  | (2) |  |  |
Total derivatives designated as accounting hedges | $ | — |  |  |  |  | $ | (15) |  |  | $ | 12 |  |  | $ | 3 |  |  | $ | (28) |  |  | $ | 22 |  |  |
| Nine Months Ended September 30, 2025 |  | Nine Months Ended September 30, 2024 |  |
(In millions) | Effective portion of derivative gain (loss) deferred in AOCI |  |  |  | Amount of gain (loss) reclassified from AOCI into income |  | Interest on fair value hedges |  | Effective portion of derivative gain (loss) deferred in AOCI |  | Amount of gain (loss) reclassified from AOCI into income |  | Interest on fair value hedges |  |
Cash flow hedges: 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedges of floating-rate assets | $ | 8 |  |  |  |  | $ | (53) |  |  | $ | — |  |  | $ | (2) |  |  | $ | (99) |  |  | $ | — |  |  |
Hedges of floating-rate liabilities | — |  |  |  |  | 1 |  |  | — |  |  | 3 |  |  | 6 |  |  | — |  |  |
Fair value hedges: 2 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedges of fixed-rate assets | — |  |  |  |  | — |  |  | 42 |  |  | — |  |  | — |  |  | 70 |  |  |
Hedges of fixed-rate liabilities | — |  |  |  |  | — |  |  | (8) |  |  | — |  |  | — |  |  | (5) |  |  |
Total derivatives designated as accounting hedges | $ | 8 |  |  |  |  | $ | (52) |  |  | $ | 34 |  |  | $ | 1 |  |  | $ | (93) |  |  | $ | 65 |  |  |
1 For the 12-month period following September 30, 2025, we estimate that approximately $37 million in net losses from both active and terminated cash flow hedges will be reclassified from AOCI into interest income. At September 30, 2025, approximately $48 million in losses related to terminated cash flow hedges remained deferred in AOCI. These deferred losses are expected to be fully reclassified into earnings by October 2027. 2 At September 30, 2025 and 2024, we recorded cumulative unamortized basis adjustments from terminated fair value hedges of debt totaling $34 million and $41 million, respectively. Additionally, we maintained $3 million in cumulative unamortized basis adjustments from terminated fair value hedges of assets at both reporting dates. The interest amounts associated with fair value hedges, as presented above, include the amortization of these remaining unamortized basis adjustments.
Schedule of Gains (Losses) Recognized From Derivatives Not Designated as Accounting Hedges | The following schedule presents the amount of gains (losses) recognized from derivatives not designated as accounting hedges:
| Other Noninterest Income/(Expense)
(In millions) | Three Months Ended September 30, 2025 |  | Nine Months Ended September 30, 2025 |  | Three Months Ended September 30, 2024 |  | Nine Months Ended September 30, 2024
Derivatives not designated as accounting hedges: |  |  |  |  |  |  |
Customer-facing interest rate derivatives | $ | (2) |  |  | $ | 16 |  |  | $ | 4 |  |  | $ | 17 |
Other interest rate derivatives | 1 |  |  | 1 |  |  | (2) |  |  | (1) |
Foreign exchange derivatives | 8 |  |  | 22 |  |  | 8 |  |  | 22 |
Purchased credit derivatives | — |  |  | (1) |  |  | — |  |  | — |
Total derivatives not designated as accounting hedges | $ | 7 |  |  | $ | 38 |  |  | $ | 10 |  |  | $ | 38 |
Schedule of Fair Value Hedges | The following schedule presents derivatives used in fair value hedge accounting relationships, including the pre-tax gains and losses recognized on both the derivatives and the corresponding hedged items for the periods presented:
| Gains (losses) recorded in income |  |  |  |
| Three Months Ended September 30, 2025 |  | Three Months Ended September 30, 2024 |  |  |  |
(In millions) | Derivatives |  | Hedged items |  | Total income statement impact |  | Derivatives |  | Hedged items |  | Total income statement impact |  |  |  |
Hedges of fixed-rate assets 1, 2 | $ | (15) |  |  | $ | 15 |  |  | $ | — |  |  | $ | (166) |  |  | $ | 166 |  |  | $ | — |  |  |  |  |
Hedges of fixed-rate liabilities 1, 2 | 3 |  |  | (3) |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |
| Gains (losses) recorded in income
| Nine Months Ended September 30, 2025 |  | Nine Months Ended September 30, 2024
(In millions) | Derivatives |  | Hedged items |  | Total income statement impact |  | Derivatives |  | Hedged items |  | Total income statement impact
Hedges of fixed-rate assets 1, 2 | $ | (130) |  |  | $ | 130 |  |  | $ | — |  |  | $ | (47) |  |  | $ | 47 |  |  | $ | — |
Hedges of fixed-rate liabilities 1, 2 | 19 |  |  | (19) |  |  | — |  |  | — |  |  | — |  |  | — |
1 Includes hedges of benchmark interest rate risk for fixed-rate long-term debt, AFS securities, and commercial loans. Gains and losses were recorded in interest income or expense, consistent with the hedged items. 2 The income/expense for derivatives does not reflect interest income/expense from periodic accruals and payments to be consistent with the presentation of the gains (losses) on the hedged items.
Schedule of Basis Adjustments for Hedged Items | The following schedule presents information regarding basis adjustments for hedged items in fair value hedging relationships:
| Par value of hedged items |  | Carrying amount of the hedged items 1 |  | Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged items
(In millions) | September 30, 2025 |  | December 31, 2024 |  | September 30, 2025 |  | December 31, 2024 |  | September 30, 2025 |  | December 31, 2024
Hedges of fixed-rate assets 1, 2 | $ | 11,494 |  |  | $ | 11,388 |  |  | $ | 11,333 |  |  | $ | 11,099 |  |  | $ | (161) |  |  | $ | (289) |
Hedges of fixed-rate liabilities 1 | (1,000) |  |  | (500) |  |  | (1,012) |  |  | (493) |  |  | (12) |  |  | 7 |
1 Carrying amounts exclude (1) issuance and purchase discounts or premiums, (2) unamortized issuance and acquisition costs, and (3) amounts related to terminated fair value hedges. 2 At September 30, 2025, the amortized cost basis of assets designated using the portfolio layer method was $9.5 billion; the cumulative basis adjustment associated with these hedging relationships was $35 million; and the notional amounts of the designated accounting hedges were $5.6 billion.

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 182 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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