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Offsetting Assets and Liabilities
 12 Months Ended
Dec. 31, 2022
Offsetting [Abstract]  
OFFSETTING ASSETS AND LIABILITIES OFFSETTING ASSETS AND LIABILITIES
Gross and net information for selected financial instruments in the balance sheet is as follows:
December 31, 2022
(In millions)Gross amounts not offset in the balance sheet
DescriptionGross amounts recognizedGross amounts offset in the balance sheetNet amounts presented in the balance sheetFinancial instrumentsCash collateral received/pledgedNet amount
Assets:
Federal funds sold and securities purchased under agreements to resell
$2,451 $(25)$2,426 $— $— $2,426 
Derivatives (included in Other assets)
386 — 386 (10)(367)9 
Total assets$2,837 $(25)$2,812 $(10)$(367)$2,435 
Liabilities:
Federal funds and other short-term borrowings
$10,442 $(25)$10,417 $— $— $10,417 
Derivatives (included in Other liabilities)
451 — 451 (10)— 441 
Total liabilities$10,893 $(25)$10,868 $(10)$— $10,858 

December 31, 2021
(In millions)Gross amounts not offset in the balance sheet
DescriptionGross amounts recognizedGross amounts offset in the balance sheetNet amounts presented in the balance sheetFinancial instrumentsCash collateral received/pledgedNet amount
Assets:
Federal funds sold and securities purchased under agreements to resell
$2,133 $— $2,133 $— $— $2,133 
Derivatives (included in Other assets)
219 — 219 (16)(7)196 
Total assets$2,352 $— $2,352 $(16)$(7)$2,329 
Liabilities:
Federal funds and other short-term borrowings
$903 $— $903 $— $— $903 
Derivatives (included in Other liabilities)
51 — 51 (16)(1)34 
Total liabilities$954 $— $954 $(16)$(1)$937 
Security repurchase and reverse repurchase agreements are offset, when applicable, in the balance sheet according to master netting agreements. Security repurchase agreements are included with “Federal funds and other short-term borrowings.” Derivative instruments may be offset under their master netting agreements; however, for accounting purposes, we present these items on a gross basis in our balance sheet. See Note 7 for further information regarding derivative instruments.