COMMITMENTS AND CONTINGENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Schedule of Activity of Funding Agreements

Change in FHLB Funding Agreements during the Year Ended December 31, 2022

	Outstanding Balance at December 31, 2021		Issued During the Period		Repaid During the Period		Long-term Agreements Maturing Within One Year		Long-term Agreements Maturing Within Five Years		Outstanding Balance at December 31, 2022
	(in millions)
Short-term funding agreements:
Due in one year or less	$	5,353	$	54,316	$	(53,790)	$	251	$	—	$	6,130
Long-term funding agreements:
Due in years two through five	1,290		640		—		(251)		—		1,679
Due in more than five years	—		692		—		—		—		692
Total long-term funding agreements	1,290		1,332		—		(251)		—		2,371
Total funding agreements (1)	$	6,643	$	55,648	$	(53,790)	$	—	$	—	$	8,501

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(1)The $4 million and $4 million difference between the funding agreements carrying value shown in fair value table for December 31, 2022 and 2021, respectively, reflects the remaining amortization of a hedge implemented and closed, which locked in the funding agreements borrowing rates.

Change in FABN Funding Agreements during the Year Ended December 31, 2022

	Outstanding Balance at December 31, 2021		Issued During the Period		Repaid During the Period		Long-term Agreements Maturing Within One Year		Long-term Agreements Maturing Within Five Years		Foreign Currency Transaction Adjustment		Outstanding Balance at December 31, 2022
	(in millions)
Short-term funding agreements:
Due in one year or less	$	—	$	—	$	—	$	1,500	$	—	$	—	$	1,500
Long-term funding agreements:
Due in years two through five	4,600		400		—		(1,500)		500		—		4,000
Due in more than five years	2,119		—		—		—		(500)		(34)		1,585
Total long-term funding agreements	6,719		400		—		(1,500)		—		(34)		5,585
Total funding agreements (1)	$	6,719	$	400	$	—	$	—	$	—	$	(34)	$	7,085

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(1)The $66 million and $70 million difference between the funding agreements notional value shown and carrying value table as of December 31, 2022 and 2021, respectively, reflects the remaining amortization of the issuance cost of the funding agreements and the foreign currency transaction adjustment.