Other assets (Tables)

6 Months Ended

Jun. 30, 2022

Other Assets [Abstract]

Summary of Other Assets Presented on the Consolidated Balance Sheet

The following table provides the components of other assets presented on the consolidated balance sheet.

Other assets	June 30, 2022		Dec. 31, 2021
(in millions)
Corporate/bank-owned life insurance	$	5,380	$	5,359
Fails to deliver	5,037		1,561
Accounts receivable	4,199		4,178
Software	2,147		2,096
Prepaid pension assets	1,996		1,946
Qualified affordable housing project investments	1,258		1,153
Renewable energy investments	944		1,027
Equity method investments	850		939
Prepaid expense	756		476
Other equity investments (a)	622		449
Income taxes receivable	577		538
Fair value of hedging derivatives	525		206
Federal Reserve Bank stock	476		472
Seed capital (b)	374		357
Assets of consolidated investment management funds	196		462
Other (c)	2,272		1,190
Total other assets	$	27,609	$	22,409

(a)     Includes strategic equity, private equity and other investments.

(b)    Includes investments in BNY Mellon funds which hedge deferred incentive awards.

(c)    At June 30, 2022 and Dec. 31, 2021, other assets include $6 million and $7 million, respectively, of Federal Home Loan Bank stock, at cost.

Equity Securities without Readily Determinable Fair Value

The following table presents the adjustments on the non-readily marketable equity securities.

Adjustments on non-readily marketable equity securities											Life-to-date
(in millions)	2Q22		1Q22		2Q21		YTD22		YTD21
Upward adjustments	$	76	$	46	$	6	$	122	$	6	$	280
Downward adjustments	(7)		—		—		(7)		—		(11)
Net adjustments	$	69	$	46	$	6	$	115	$	6	$	269

Summary of Investments Valued Using NAV

The table below presents information on our investments valued using NAV.

Investments valued using NAV	June 30, 2022					Dec. 31, 2021
(in millions)	Fair value		Unfunded  commitments			Fair value		Unfunded commitments
Seed capital (a)(b)	$	90		$	19	$	101		$	21
Private equity investments (c)	129			62		113			61
Other	4			—		4			—
Total	$	223		$	81	$	218		$	82

(a)    Primarily includes leveraged loans and structured credit funds, which are generally not redeemable. Distributions from such investments will be received as the underlying investments in the funds, which have lives of three to 11 years at both June 30, 2022 and Dec. 31, 2021, are liquidated.

(b)    Includes investments in funds that relate to deferred compensation arrangements with employees.

(c)    Private equity investments primarily include Volcker Rule-compliant investments in SBICs that invest in various sectors of the economy. Private equity investments do not have redemption rights. Distributions from such investments will be received as the underlying investments in the private equity investments, which have a life of 10 years, are liquidated.