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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Securities Available for Sale and Held to Maturity
The amortized cost, gross unrealized gains and losses, and fair value of the Company’s AFS and HTM investment securities are as follows:
September 30, 2023Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Available for sale securities    
U.S. agency mortgage-backed securities$73,518 $— $8,657 $64,861 
U.S. Treasury securities23,139 — 1,351 21,788 
Asset-backed securities (1)
10,111 — 487 9,624 
Corporate debt securities (2)
13,361 — 1,207 12,154 
Certificates of deposit100 — 1 99 
Foreign government agency securities1,034 — 49 985 
U.S. state and municipal securities636 — 81 555 
Non-agency commercial mortgage-backed securities208 — 20 188 
Other22 — 4 18 
Unallocated portfolio layer method fair value basis adjustments (3)
(57)— (57)— 
Total available for sale securities (4)
$122,072 $— $11,800 $110,272 
Held to maturity securities    
U.S. agency mortgage-backed securities$162,452 $— $19,449 $143,003 
Total held to maturity securities$162,452 $— $19,449 $143,003 
December 31, 2022Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Available for sale securities
U.S. agency mortgage-backed securities$85,994 $— $8,306 $77,688 
U.S. Treasury securities41,879 — 1,877 40,002 
Asset-backed securities (1)
13,672 — 649 13,023 
Corporate debt securities (2)
13,830 — 1,275 12,555 
Certificates of deposit2,245 — 14 2,231 
Foreign government agency securities1,033 — 64 969 
U.S. state and municipal securities713 — 75 638 
Non-agency commercial mortgage-backed securities473 — 23 450 
Other323 — 8 315 
Total available for sale securities (4)
$160,162 $— $12,291 $147,871 
Held to maturity securities
U.S. agency mortgage-backed securities$173,074 $1,442 $15,580 $158,936 
Total held to maturity securities$173,074 $1,442 $15,580 $158,936 
(1) Approximately 61% and 57% of asset-backed securities held as of September 30, 2023 and December 31, 2022, respectively, were Federal Family Education Loan Program Asset-Backed Securities. Asset-backed securities collateralized by credit card receivables represented approximately 22% and 18% of the asset-backed securities held as of September 30, 2023 and December 31, 2022, respectively.
(2) As of both September 30, 2023 and December 31, 2022, approximately 37% of the total AFS in corporate debt securities were issued by institutions in the financial services industry.
(3) Beginning in 2023, this represents the amount of PLM basis adjustments related to AFS securities hedged in a closed portfolio. See Notes 2 and 11 for more information on PLM hedge accounting.
(4) Included in cash and cash equivalents on the condensed consolidated balance sheets, but excluded from this table is $48 million of AFS commercial paper as of December 31, 2022 (none as of September 30, 2023). These holdings have maturities of three months or less and an aggregate market value equal to amortized cost.
Securities with Unrealized Losses, Aggregated by Category and Period of Continuous Unrealized Loss
Securities with unrealized losses, aggregated by category and period of continuous unrealized loss, of AFS investment securities are as follows:
Less than 12 months12 months or longerTotal
September 30, 2023Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Available for sale securities      
U.S. agency mortgage-backed securities$97 $1 $64,763 $8,656 $64,860 $8,657 
U.S. Treasury securities1,493 2 20,295 1,349 21,788 1,351 
Asset-backed securities32 — 9,580 487 9,612 487 
Corporate debt securities— — 12,155 1,207 12,155 1,207 
Certificates of deposit— — 99 1 99 1 
Foreign government agency securities— — 985 49 985 49 
U.S. state and municipal securities— — 555 81 555 81 
Non-agency commercial mortgage-backed securities— — 188 20 188 20 
Other— — 18 4 18 4 
Total (1)
$1,622 $3 $108,638 $11,854 $110,260 $11,857 
December 31, 2022   
Available for sale securities       
U.S. agency mortgage-backed securities$34,938 $2,025 $42,558 $6,281 $77,496 $8,306 
U.S. Treasury securities27,063 716 12,519 1,161 39,582 1,877 
Asset-backed securities6,717 217 6,299 432 13,016 649 
Corporate debt securities8,552 542 3,998 733 12,550 1,275 
Certificates of deposit2,033 10 196 4 2,229 14 
Foreign government agency securities756 50 214 14 970 64 
U.S. state and municipal securities482 31 157 44 639 75 
Non-agency commercial mortgage-backed securities443 23 — — 443 23 
Other315 8 — — 315 8 
Total$81,299 $3,622 $65,941 $8,669 $147,240 $12,291 
(1) For purposes of this table, unrealized losses on AFS securities excludes the PLM fair value hedge basis adjustments of $57 million at September 30, 2023.
Maturities of Securities Available for Sale and Held to Maturity
The maturities of AFS and HTM investment securities are as follows:
September 30, 2023Within
1 year		After 1 year
through
5 years		After 5 years
through
10 years		After
10 years		Total
Available for sale securities     
U.S. agency mortgage-backed securities$494 $12,620 $11,503 $40,244 $64,861 
U.S. Treasury securities8,649 13,139 — — 21,788 
Asset-backed securities— 2,755 1,209 5,660 9,624 
Corporate debt securities2,160 8,514 1,480 — 12,154 
Certificates of deposit99 — — — 99 
Foreign government agency securities488 497 — — 985 
U.S. state and municipal securities— 46 387 122 555 
Non-agency commercial mortgage-backed securities— — — 188 188 
Other — — — 18 18 
Total fair value$11,890 $37,571 $14,579 $46,232 $110,272 
Total amortized cost (1)
$12,128 $40,565 $16,667 $52,769 $122,129 
Held to maturity securities     
U.S. agency mortgage-backed securities$724 $6,780 $36,652 $98,847 $143,003 
Total fair value$724 $6,780 $36,652 $98,847 $143,003 
Total amortized cost$749 $7,343 $41,217 $113,143 $162,452 
(1) For purposes of this table, the amortized cost of AFS securities excludes the PLM fair value hedge basis adjustments of $57 million at September 30, 2023.
Proceeds and Gross Realized Gains And Losses from Sales of Securities Available for Sale
Proceeds and gross realized gains and losses from sales of AFS investment securities are as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Proceeds$3,485 $10,549 $6,385 $24,019 
Gross realized gains1 16 1 156 
Gross realized losses25 32 45 155