SECURITIES LENDING

6 Months Ended

Jun. 30, 2023

SECURITIES LENDING The following table presents the contractual gross and net securities borrowing and lending balances and the related offsetting amount as of June 30, 2023 and December 31, 2022:


	Gross amounts recognized		Gross amounts offset in the consolidated balance sheets (1)		Net amounts included in the consolidated balance sheets		Amounts not offset in the consolidated balance sheets but eligible for offsetting upon counterparty default(2)		Net amounts
As of June 30, 2023
Securities borrowed	$	2,938,521	$	—	$	2,938,521	$	2,938,521	$	—
Securities loaned	$	2,929,265	$	—	$	2,929,265	$	2,929,265	$	—
As of December 31, 2022
Securities borrowed	$	2,343,327	$	—	$	2,343,327	$	2,343,327	$	—
Securities loaned	$	2,334,031	$	—	$	2,334,031	$	2,334,031	$	—

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(1)Includes financial instruments subject to enforceable master netting provisions that are permitted to be offset to the extent an event of default has occurred.

(2)Includes the amount of cash collateral held/posted.