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v3.25.3

Investment Securities (Tables) | 9 Months Ended
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Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
Schedule of Held-to-Maturity and Available-for-Sale Securities | The following tables summarize our portfolio of debt securities available for sale:
| September 30, 2025
| Amortized Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Fair Value
Debt securities available for sale |  |  |  |  |  |  |
Mortgage-Related Debt Securities: |  |  |  |  |  |  |
GSE CMOs | $ | 11,476 |  |  | $ | 56 |  |  | $ | 371 |  |  | $ | 11,161 |
GSE certificates | 1,130 |  |  | 1 |  |  | 126 |  |  | 1,005 |
Private label CMOs | 150 |  |  | 11 |  |  | — |  |  | 161 |
Total mortgage-related debt securities | $ | 12,756 |  |  | $ | 68 |  |  | $ | 497 |  |  | $ | 12,327 |
Other Debt Securities: |  |  |  |  |  |  |
GSE debentures | $ | 1,502 |  |  | $ | — |  |  | $ | 216 |  |  | $ | 1,286 |
U. S. treasury obligations | 1,000 |  |  | 14 |  |  | — |  |  | 1,014 |
Asset-backed securities (1) | 222 |  |  | — |  |  | 4 |  |  | 218 |
Corporate bonds | 164 |  |  | — |  |  | 7 |  |  | 157 |
Capital trust notes | 47 |  |  | 6 |  |  | 8 |  |  | 45 |
Municipal bonds | 5 |  |  | — |  |  | — |  |  | 5 |
Total debt securities | $ | 2,940 |  |  | $ | 20 |  |  | $ | 235 |  |  | $ | 2,725 |
Total debt securities available for sale, net of allowance(2)(3)(4) | $ | 15,696 |  |  | $ | 88 |  |  | $ | 732 |  |  | $ | 15,052 |
(1)At September 30, 2025, substantially all of our debt securities available for sale are comprised of securities issued by GSEs or are explicitly guaranteed by the U.S. government. (2)As of September 30, 2025, the ACL was $2 million. (3)Excludes accrued interest receivable of $43 million included in Other assets in the Condensed Consolidated Statements of Condition. (4)We pledged investment securities of $14.8 billion as collateral for certain borrowings.
| December 31, 2024
| Amortized Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Fair Value
Debt securities available for sale |  |  |  |  |  |  |
Mortgage-Related Debt Securities: |  |  |  |  |  |  |
GSE CMOs | $ | 7,724 |  |  | $ | 27 |  |  | $ | 447 |  |  | $ | 7,304 |
GSE certificates | 1,273 |  |  | — |  |  | 167 |  |  | 1,106 |
Private label CMOs | 158 |  |  | 6 |  |  | 1 |  |  | 163 |
Total mortgage-related debt securities | $ | 9,155 |  |  | $ | 33 |  |  | $ | 615 |  |  | $ | 8,573 |
Other Debt Securities: |  |  |  |  |  |  |
GSE debentures | $ | 1,502 |  |  | $ | — |  |  | $ | 299 |  |  | $ | 1,203 |
Corporate bonds | 314 |  |  | — |  |  | 6 |  |  | 308 |
Asset-backed securities (1) | 237 |  |  | 1 |  |  | 2 |  |  | 236 |
Capital trust notes | 47 |  |  | 5 |  |  | 10 |  |  | 42 |
Foreign notes | 35 |  |  | — |  |  | — |  |  | 35 |
Municipal bonds | 5 |  |  | — |  |  | — |  |  | 5 |
Total debt securities | $ | 2,140 |  |  | $ | 6 |  |  | $ | 317 |  |  | $ | 1,829 |
Total securities available for sale, net of allowance(2)(3)(4) | $ | 11,295 |  |  | $ | 39 |  |  | $ | 932 |  |  | $ | 10,402 |
(1)At December 31, 2024, substantially all of our debt securities available for sale are comprised of securities issued by GSEs or are explicitly guaranteed by the U.S. government. (2)As of December 31, 2024, the ACL was $3 million. (3)Excludes accrued interest receivable of $35 million included in Other assets in the Condensed Consolidated Statements of Condition. (4)We pledged investment securities of $10.2 billion as collateral for certain borrowings.
Schedule of Amortized Cost and Estimated Fair Value of Securities by Contractual Maturity | The following table summarizes, by contractual maturity, the fair value of securities at September 30, 2025:
| Mortgage- Related Securities |  | U.S. Government and GSE Obligations |  |  |  | Corporate and Other Bonds |  | Asset-Backed Securities |  |  |  | Total
Available-for-Sale Debt Securities: |  |  |  |  |  |  |  |  |  |  |  |  |
Due within one year | $ | 1 |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 1 |
Due from one to five years | 122 |  |  | 1,080 |  |  |  |  | 143 |  |  | — |  |  |  |  | 1,345 |
Due from five to ten years | 240 |  |  | 1,220 |  |  |  |  | 26 |  |  | — |  |  |  |  | 1,486 |
Due after ten years | 11,964 |  |  | — |  |  |  |  | 38 |  |  | 218 |  |  |  |  | 12,220 |
Total debt securities available for sale, net of allowance | $ | 12,327 |  |  | $ | 2,300 |  |  |  |  | $ | 207 |  |  | $ | 218 |  |  |  |  | $ | 15,052 |
Schedule of Unrealized Loss Positions on Investment Securities Held-to-Maturity | The following table presents debt securities having a continuous unrealized loss position for less than twelve months and for twelve months or longer as of September 30, 2025:
| Number of Debt Securities(1) |  | Less than Twelve Months |  | Twelve Months or Longer |  | Total
|  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Debt securities in a continuous unrealized loss position: |  |  |  |  |  |  |  |  |  |  |  |  |
GSE CMOs | 230 |  |  | $ | 899 |  |  | $ | 1 |  |  | $ | 3,037 |  |  | $ | 370 |  |  | $ | 3,936 |  |  | $ | 371 |
U.S. Government agency and GSE obligations | 33 |  |  | — |  |  | — |  |  | 1,287 |  |  | 216 |  |  | 1,287 |  |  | 216 |
GSE certificates | 326 |  |  | — |  |  | — |  |  | 948 |  |  | 126 |  |  | 948 |  |  | 126 |
Corporate bonds | 6 |  |  | — |  |  | — |  |  | 157 |  |  | 7 |  |  | 157 |  |  | 7 |
Asset-backed securities | 5 |  |  | 14 |  |  | — |  |  | 142 |  |  | 4 |  |  | 156 |  |  | 4 |
Capital trust notes | 5 |  |  | — |  |  | — |  |  | 35 |  |  | 8 |  |  | 35 |  |  | 8 |
Private Label CMOs | 1 |  |  | — |  |  | — |  |  | 14 |  |  | — |  |  | 14 |  |  | — |
Municipal bonds | 1 |  |  | — |  |  | — |  |  | 5 |  |  | — |  |  | 5 |  |  | — |
Total debt securities in a continuous unrealized loss position | 607 |  |  | $ | 913 |  |  | $ | 1 |  |  | $ | 5,625 |  |  | $ | 731 |  |  | $ | 6,538 |  |  | $ | 732 |
(1)Count of securities that have been in a loss position for twelve or more months. The following table presents debt securities having a continuous unrealized loss position for less than twelve months and for twelve months or longer as of December 31, 2024:
| Number of Debt Securities(1) |  | Less than Twelve Months |  | Twelve Months or Longer |  | Total
|  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Debt securities in a continuous unrealized loss position: |  |  |  |  |  |  |  |  |  |  |  |  |
GSE CMOs | 223 |  |  | $ | 1,636 |  |  | $ | 3 |  |  | $ | 2,822 |  |  | $ | 444 |  |  | $ | 4,458 |  |  | $ | 447 |
U.S. Government agency and GSE obligations | 33 |  |  | — |  |  | — |  |  | 1,203 |  |  | 299 |  |  | 1,203 |  |  | 299 |
GSE certificates | 328 |  |  | 38 |  |  | — |  |  | 1,040 |  |  | 167 |  |  | 1,078 |  |  | 167 |
Corporate bonds | 11 |  |  | — |  |  | — |  |  | 308 |  |  | 6 |  |  | 308 |  |  | 6 |
Asset-backed securities | 5 |  |  | — |  |  | — |  |  | 154 |  |  | 2 |  |  | 154 |  |  | 2 |
Capital trust notes | 5 |  |  | — |  |  | — |  |  | 33 |  |  | 10 |  |  | 33 |  |  | 10 |
Private Label CMOs | 2 |  |  | — |  |  | — |  |  | 17 |  |  | 1 |  |  | 17 |  |  | 1 |
Foreign notes | 1 |  |  | — |  |  | — |  |  | 10 |  |  | — |  |  | 10 |  |  | — |
Municipal bonds | 1 |  |  | — |  |  | — |  |  | 5 |  |  | — |  |  | 5 |  |  | — |
Total debt securities in a continuous unrealized loss position | 609 |  |  | $ | 1,674 |  |  | $ | 3 |  |  | $ | 5,592 |  |  | $ | 929 |  |  | $ | 7,266 |  |  | $ | 932 |
(1)Count of securities that have been in a loss position for twelve or more months.
Schedule of Company Holding Shares of FHLB-NY Stock and FHLB-Indianapolis Stock | We also carry shares in the following entities at cost:
|  | September 30, 2025 |  | December 31, 2024
FHLB-Indianapolis |  | $ | 255 |  |  | $ | 329 |
FHLB-New York |  | 542 |  |  | 598
Federal Reserve Bank stock |  | 221 |  |  | 219

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