SECURITIES BORROWING AND LENDING (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Assets Subject to Master Netting Arrangement

The following tables set forth certain balances related to our securities borrowing and lending activities as of December 31, 2023 and September 30, 2024:


	December 31,		September 30,
(in millions)	2023		2024
Assets	Securities borrowed
Gross amount of cash collateral provided to users for securities borrowing transactions	$	1,602	$	3,704
Gross amount offset on the consolidated balance sheets	—		—
Amounts of assets presented on the consolidated balance sheets	1,602		3,704
Gross amount not offset on the consolidated balance sheets:
Cash collateral provided to users and third parties for securities borrowing transactions	1,602		3,704
Fair value of securities borrowed from users and third parties	(1,536)		(3,614)
Net amount	$	66	$	90

Liabilities	Securities loaned
Gross amount of cash collateral received from counterparties for securities lending transactions	$	3,547	$	7,306
Gross amount offset on the consolidated balance sheets	—		—
Amounts of liabilities presented on the consolidated balance sheets	3,547		7,306
Gross amount not offset on the consolidated balance sheets:
Cash collateral received from counterparties for securities lending transactions	3,547		7,306
Fair value of securities pledged to counterparties	(3,188)		(6,842)
Net amount	$	359	$	464

Schedule of liabilities Subject to Master Netting Arrangement

The following tables set forth certain balances related to our securities borrowing and lending activities as of December 31, 2023 and September 30, 2024:


	December 31,		September 30,
(in millions)	2023		2024
Assets	Securities borrowed
Gross amount of cash collateral provided to users for securities borrowing transactions	$	1,602	$	3,704
Gross amount offset on the consolidated balance sheets	—		—
Amounts of assets presented on the consolidated balance sheets	1,602		3,704
Gross amount not offset on the consolidated balance sheets:
Cash collateral provided to users and third parties for securities borrowing transactions	1,602		3,704
Fair value of securities borrowed from users and third parties	(1,536)		(3,614)
Net amount	$	66	$	90

Liabilities	Securities loaned
Gross amount of cash collateral received from counterparties for securities lending transactions	$	3,547	$	7,306
Gross amount offset on the consolidated balance sheets	—		—
Amounts of liabilities presented on the consolidated balance sheets	3,547		7,306
Gross amount not offset on the consolidated balance sheets:
Cash collateral received from counterparties for securities lending transactions	3,547		7,306
Fair value of securities pledged to counterparties	(3,188)		(6,842)
Net amount	$	359	$	464