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LONG-TERM DEBT AND SHAREHOLDERS' EQUITY (Tables) | 9 Months Ended
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Sep. 30, 2025
Debt And Equity [Abstract] |
Schedule of Long-term Debt | The following schedule presents the components of our long-term debt: LONG-TERM DEBT
(In millions) | September 30, 2025 |  | December 31, 2024 |  |  |  |
Subordinated notes 1 | $ | 971 |  |  | $ | 946 |  |  |  |  |
Senior notes | 499 |  |  | — |  |  |  |  |
Finance lease obligations | 3 |  |  | 4 |  |  |  |  |
Total | $ | 1,473 |  |  | $ | 950 |  |  |  |  |
1 The change in the subordinated note balance is primarily due to fair value hedge basis adjustments. See also Note 7.
Schedule of Changes in Accumulated Other Comprehensive Income | The following schedule presents the changes in AOCI by major component:
(In millions) | Net unrealized gains (losses) on investment securities |  | Net unrealized gains (losses) on derivatives and other |  | Pension and post-retirement |  | Total
Nine Months Ended September 30, 2025 |  |  |  |  |  |  |
Balance at December 31, 2024 | $ | (2,301) |  |  | $ | (78) |  |  | $ | (1) |  |  | $ | (2,380) |
Other comprehensive income before reclassifications, net of tax | 142 |  |  | 6 |  |  | — |  |  | 148 |
Amounts reclassified from AOCI, net of tax | 137 |  |  | 39 |  |  | — |  |  | 176 |
Other comprehensive income | 279 |  |  | 45 |  |  | — |  |  | 324 |
Balance at September 30, 2025 | $ | (2,022) |  |  | $ | (33) |  |  | $ | (1) |  |  | $ | (2,056) |
Income tax expense included in other comprehensive income | $ | 91 |  |  | $ | 15 |  |  | $ | — |  |  | $ | 106 |
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |
Balance at December 31, 2023 | $ | (2,526) |  |  | $ | (165) |  |  | $ | (1) |  |  | $ | (2,692) |
Other comprehensive income before reclassifications, net of tax | 137 |  |  | 2 |  |  | — |  |  | 139 |
Amounts reclassified from AOCI, net of tax | 147 |  |  | 70 |  |  | — |  |  | 217 |
Other comprehensive income | 284 |  |  | 72 |  |  | — |  |  | 356 |
Balance at September 30, 2024 | $ | (2,242) |  |  | $ | (93) |  |  | $ | (1) |  |  | $ | (2,336) |
Income tax expense included in other comprehensive income | $ | 93 |  |  | $ | 24 |  |  | $ | — |  |  | $ | 117 |
Reclassification out of Accumulated Other Comprehensive Income |
|  | Amounts reclassified from AOCI |  |  |  |
(In millions) |  | Three Months Ended September 30, |  | Nine Months Ended September 30, |  |  |
AOCI components |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |  | Affected line item on statement of income
Net unrealized gains (losses) on investment securities |  | $ | (62) |  |  | $ | (67) |  |  | $ | (182) |  |  | $ | (195) |  |  |  |  | Securities gains (losses), net
Less: Income tax expense (benefit) |  | (15) |  |  | (16) |  |  | (45) |  |  | (48) |  |  |  |  |
Total |  | $ | (47) |  |  | $ | (51) |  |  | $ | (137) |  |  | $ | (147) |  |  |  |  |
Net unrealized gains (losses) on derivative instruments and other |  | $ | (15) |  |  | $ | (28) |  |  | $ | (52) |  |  | $ | (93) |  |  |  |  | Interest and fees on loans; Interest on short- and long-term borrowings
Less: Income tax expense (benefit) |  | (4) |  |  | (7) |  |  | (13) |  |  | (23) |  |  |  |  |
Total |  | $ | (11) |  |  | $ | (21) |  |  | $ | (39) |  |  | $ | (70) |  |  |  |  |

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