Securities Financing Agreements (Tables)
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12 Months Ended |
Dec. 31, 2020 |
Transfers and Servicing [Abstract] |
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Secured Borrowings by Contractual Maturity and Class of Collateral Pledged |
he following table presents the gross obligations for securities sold under agreements to repurchase and securities loaned by remaining contractual maturity and class of collateral pledged as of December 31, 2020 and December 31, 2019. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2020 | | December 31, 2019 | (Dollars in millions) | | Overnight and Continuous | | Up to 30 Days | | 31 - 90 Days | | Greater than 90 Days | | Total | | Overnight and Continuous | | Up to 30 Days | | 31 - 90 Days | | Greater than 90 Days | | Total | Securities sold under agreements to repurchase: | | | | | | | | | | | | | | | U.S. Treasury and government agencies | | $ | — | | | $ | 14,642 | | | $ | 296 | | | $ | — | | | $ | 14,938 | | | $ | 12,219 | | | $ | 2,237 | | | $ | 385 | | | $ | 102 | | | $ | 14,943 | | Mortgage-backed: | | | | | | | | | | | | | | | | | | | | | U.S. agencies | | — | | | 8,069 | | | 5,465 | | | — | | | 13,534 | | | 5,322 | | | 1,582 | | | 7,126 | | | — | | | 14,030 | | Corporate debt | | — | | | 676 | | | 756 | | | — | | | 1,432 | | | 688 | | | 24 | | | 1,161 | | | — | | | 1,873 | | Other debt | | — | | | 401 | | | 377 | | | — | | | 778 | | | 327 | | | — | | | 533 | | | — | | | 860 | | Equity | | — | | | 1,377 | | | 1,067 | | | — | | | 2,444 | | | 1,400 | | | 349 | | | 456 | | | — | | | 2,205 | | Total | | $ | — | | | $ | 25,165 | | | $ | 7,961 | | | $ | — | | | $ | 33,126 | | | $ | 19,956 | | | $ | 4,192 | | | $ | 9,661 | | | $ | 102 | | | $ | 33,911 | | Securities loaned: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corporate bonds | | $ | 1 | | | $ | — | | | $ | — | | | $ | — | | | $ | 1 | | | $ | 2 | | | $ | — | | | $ | — | | | $ | — | | | $ | 2 | | Other debt | | 11 | | | — | | | 241 | | | — | | | 252 | | | — | | | — | | | — | | | — | | | — | | Equity | | 366 | | | 243 | | | — | | | — | | | 609 | | | 257 | | | 236 | | | — | | | — | | | 493 | | Total | | $ | 378 | | | $ | 243 | | | $ | 241 | | | $ | — | | | $ | 862 | | | $ | 259 | | | $ | 236 | | | $ | — | | | $ | — | | | $ | 495 | |
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Offsetting Liabilities |
The following tables present the offsetting of financial assets and liabilities as of December 31, 2020 and December 31, 2019. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2020 | | | | | | | | | Gross Amounts Not Offset in Balance Sheet | | | (Dollars in millions) | | Gross Amounts of Recognized Assets/Liabilities | | Gross Amounts Offset in Balance Sheet | | Net Amounts Presented in Balance Sheet | | Financial Instruments | | Cash Collateral Received/Pledged | | Net Amount | Financial Assets: | | | | | | | | | | | | | Derivative assets | | $ | 2,313 | | | $ | 432 | | | $ | 1,881 | | | $ | 38 | | | $ | — | | | $ | 1,843 | | Securities borrowed or purchased under resale agreements | | 24,435 | | | 6,827 | | | 17,608 | | | 17,539 | | | — | | | 69 | | Total | | $ | 26,748 | | | $ | 7,259 | | | $ | 19,489 | | | $ | 17,577 | | | $ | — | | | $ | 1,912 | | Financial Liabilities: | | | | | | | | | | | | | Derivative liabilities | | $ | 1,029 | | | $ | 675 | | | $ | 354 | | | $ | 174 | | | $ | — | | | $ | 180 | | Securities loaned or sold under repurchase agreements | | 33,988 | | | 6,827 | | | 27,161 | | | 26,063 | | | — | | | 1,098 | | Total | | $ | 35,017 | | | $ | 7,502 | | | $ | 27,515 | | | $ | 26,237 | | | $ | — | | | $ | 1,278 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2019 | | | | | | | | | Gross Amounts Not Offset in Balance Sheet | | | (Dollars in millions) | | Gross Amounts of Recognized Assets/Liabilities | | Gross Amounts Offset in Balance Sheet | | Net Amounts Presented in Balance Sheet | | Financial Instruments | | Cash Collateral Received/Pledged | | Net Amount | Financial Assets: | | | | | | | | | | | | | Derivative assets | | $ | 1,233 | | | $ | 264 | | | $ | 969 | | | $ | 26 | | | $ | — | | | $ | 943 | | Securities borrowed or purchased under resale agreements | | 29,483 | | | 5,540 | | | 23,943 | | | 23,844 | | | — | | | 99 | | Total | | $ | 30,716 | | | $ | 5,804 | | | $ | 24,912 | | | $ | 23,870 | | | $ | — | | | $ | 1,042 | | Financial Liabilities: | | | | | | | | | | | | | Derivative liabilities | | $ | 523 | | | $ | 306 | | | $ | 217 | | | $ | 129 | | | $ | 1 | | | $ | 87 | | Securities loaned or sold under repurchase agreements | | 34,406 | | | 5,540 | | | 28,866 | | | 27,957 | | | — | | | 909 | | Total | | $ | 34,929 | | | $ | 5,846 | | | $ | 29,083 | | | $ | 28,086 | | | $ | 1 | | | $ | 996 | |
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Offsetting Assets |
The following tables present the offsetting of financial assets and liabilities as of December 31, 2020 and December 31, 2019. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2020 | | | | | | | | | Gross Amounts Not Offset in Balance Sheet | | | (Dollars in millions) | | Gross Amounts of Recognized Assets/Liabilities | | Gross Amounts Offset in Balance Sheet | | Net Amounts Presented in Balance Sheet | | Financial Instruments | | Cash Collateral Received/Pledged | | Net Amount | Financial Assets: | | | | | | | | | | | | | Derivative assets | | $ | 2,313 | | | $ | 432 | | | $ | 1,881 | | | $ | 38 | | | $ | — | | | $ | 1,843 | | Securities borrowed or purchased under resale agreements | | 24,435 | | | 6,827 | | | 17,608 | | | 17,539 | | | — | | | 69 | | Total | | $ | 26,748 | | | $ | 7,259 | | | $ | 19,489 | | | $ | 17,577 | | | $ | — | | | $ | 1,912 | | Financial Liabilities: | | | | | | | | | | | | | Derivative liabilities | | $ | 1,029 | | | $ | 675 | | | $ | 354 | | | $ | 174 | | | $ | — | | | $ | 180 | | Securities loaned or sold under repurchase agreements | | 33,988 | | | 6,827 | | | 27,161 | | | 26,063 | | | — | | | 1,098 | | Total | | $ | 35,017 | | | $ | 7,502 | | | $ | 27,515 | | | $ | 26,237 | | | $ | — | | | $ | 1,278 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2019 | | | | | | | | | Gross Amounts Not Offset in Balance Sheet | | | (Dollars in millions) | | Gross Amounts of Recognized Assets/Liabilities | | Gross Amounts Offset in Balance Sheet | | Net Amounts Presented in Balance Sheet | | Financial Instruments | | Cash Collateral Received/Pledged | | Net Amount | Financial Assets: | | | | | | | | | | | | | Derivative assets | | $ | 1,233 | | | $ | 264 | | | $ | 969 | | | $ | 26 | | | $ | — | | | $ | 943 | | Securities borrowed or purchased under resale agreements | | 29,483 | | | 5,540 | | | 23,943 | | | 23,844 | | | — | | | 99 | | Total | | $ | 30,716 | | | $ | 5,804 | | | $ | 24,912 | | | $ | 23,870 | | | $ | — | | | $ | 1,042 | | Financial Liabilities: | | | | | | | | | | | | | Derivative liabilities | | $ | 523 | | | $ | 306 | | | $ | 217 | | | $ | 129 | | | $ | 1 | | | $ | 87 | | Securities loaned or sold under repurchase agreements | | 34,406 | | | 5,540 | | | 28,866 | | | 27,957 | | | — | | | 909 | | Total | | $ | 34,929 | | | $ | 5,846 | | | $ | 29,083 | | | $ | 28,086 | | | $ | 1 | | | $ | 996 | |
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