Pledged Assets and Collateral

3 Months Ended

Mar. 31, 2024

Financial Instruments Pledged as Collateral [Abstract]

Pledged Assets and Collateral

Note 16:  Pledged Assets and Collateral

Pledged Assets

We pledge financial assets that we own to counterparties for the collateralization of securities and other collateralized financing activities, to secure trust and public deposits, and to collateralize derivative contracts. See Note 15 (Securities and Other Collateralized Financing Activities) for additional information on securities financing activities. As part of our liquidity management strategy, we may also pledge assets to secure borrowings and letters of credit from Federal Home Loan Banks (FHLBs), to maintain potential borrowing capacity with FHLBs and at the discount window of the Board of Governors of the Federal Reserve System (FRB), and for other purposes as required or permitted by law or insurance statutory requirements. The collateral that we pledge may include our own collateral as well as collateral that we have received from third parties and have the right to repledge.

Table 16.1 provides the carrying values of assets recognized on our consolidated balance sheet that we have pledged to third parties. Assets pledged in transactions where our counterparty has the right to sell or repledge those assets are presented parenthetically on our consolidated balance sheet.

VIE RELATED We also pledge assets in connection with various types of transactions entered into with VIEs, which are excluded from Table 16.1. These pledged assets can only be used to settle the liabilities of those entities. We also have loans recorded on our consolidated balance sheet which represent certain delinquent loans that are eligible for repurchase from GNMA loan securitizations. See Note 13 (Securitizations and Variable Interest Entities) for additional information on consolidated and unconsolidated VIE assets.

Table 16.1: Pledged Assets

(in millions)	Mar 31, 2024		Dec 31, 2023
Pledged to counterparties that had the right to sell or repledge:
Debt securities:
Trading	$	72,150	62,537
Available-for-sale	3,519		5,055
Equity securities	5,150		2,683
All other assets	564		495
Total assets pledged to counterparties that had the right to sell or repledge	81,383		70,770
Pledged to counterparties that did not have the right to sell or repledge:
Debt securities:
Trading	2,527		2,757
Available-for-sale	75,340		64,511
Held-to-maturity	239,681		246,218
Loans	459,893		445,092
Equity securities	1,762		1,502
All other assets	1,080		1,195
Total assets pledged to counterparties that did not have the right to sell or repledge	780,283		761,275
Total pledged assets	$	861,666	832,045

Collateral Accepted

We receive financial assets as collateral that we are permitted to sell or repledge. This collateral is obtained in connection with securities purchased under resale agreements and securities borrowing transactions, customer margin loans, and derivative contracts. We may use this collateral in connection with securities sold under repurchase agreements and securities lending transactions, derivative contracts, and short sales. At March 31, 2024, and December 31, 2023, the fair value of this collateral received that we have the right to sell or repledge was $207.1 billion and $216.6 billion, respectively, of which $116.1 billion and $103.3 billion, respectively, were sold or repledged.