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Securities (Tables)
 6 Months Ended
Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Reconciliation of Amortized Cost to Fair Value of Securities Available for Sale The following tables provide the amortized cost and fair values as of June 30, 2022 and December 31, 2021, and remaining maturities of AFS debt securities as of June 30, 2022.
TABLE 39: RECONCILIATION OF AMORTIZED COST TO FAIR VALUE OF AVAILABLE FOR SALE DEBT SECURITIES
JUNE 30, 2022
(In Millions)AMORTIZED COSTGROSS UNREALIZED GAINSGROSS UNREALIZED LOSSESFAIR VALUE
U.S. Government$2,645.2 $4.4 $61.2 $2,588.4 
Obligations of States and Political Subdivisions3,883.1 0.2 430.0 3,453.3 
Government Sponsored Agency17,151.3 13.5 751.6 16,413.2 
Non-U.S. Government396.2 — 28.9 367.3 
Corporate Debt2,163.4 0.8 76.3 2,087.9 
Covered Bonds541.6 0.3 12.9 529.0 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds2,939.6 1.7 147.5 2,793.8 
Other Asset-Backed5,663.2 — 271.7 5,391.5 
Commercial Mortgage-Backed1,468.6 — 75.1 1,393.5 
Total$36,852.2 $20.9 $1,855.2 $35,017.9 
DECEMBER 31, 2021
(In Millions)AMORTIZED COSTGROSS UNREALIZED GAINSGROSS UNREALIZED LOSSESFAIR VALUE
U.S. Government$2,406.2 $29.3 $9.4 $2,426.1 
Obligations of States and Political Subdivisions3,841.0 73.7 38.6 3,876.1 
Government Sponsored Agency18,092.1 93.7 110.2 18,075.6 
Non-U.S. Government383.4 0.1 9.5 374.0 
Corporate Debt2,319.8 31.6 9.7 2,341.7 
Covered Bonds502.6 3.9 0.9 505.6 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds3,052.4 28.1 35.4 3,045.1 
Other Asset-Backed5,962.0 11.3 31.7 5,941.6 
Commercial Mortgage-Backed1,389.0 38.9 3.2 1,424.7 
Total$37,948.5 $310.6 $248.6 $38,010.5 
Remaining Maturity of Securities Available for Sale and Held to Maturity
TABLE 40: REMAINING MATURITY OF AVAILABLE FOR SALE DEBT SECURITIES
JUNE 30, 2022ONE YEAR OR LESSONE TO FIVE YEARSFIVE TO TEN YEARSOVER TEN YEARSTOTAL
(In Millions)AMORTIZED COSTFAIR VALUEAMORTIZED COSTFAIR VALUEAMORTIZED COSTFAIR VALUEAMORTIZED COSTFAIR VALUEAMORTIZED COSTFAIR VALUE
U.S. Government$494.8 $495.9 $1,901.8 $1,873.4 $248.6 $219.1 $— $— $2,645.2 $2,588.4 
Obligations of States and Political Subdivisions28.3 28.2 721.7 689.0 3,008.0 2,632.3 125.1 103.8 3,883.1 3,453.3 
Government Sponsored Agency2,633.7 2,578.1 7,043.5 6,852.2 5,752.9 5,398.1 1,721.2 1,584.8 17,151.3 16,413.2 
Non-U.S. Government104.2 103.9 214.9 196.8 77.1 66.6 — — 396.2 367.3 
Corporate Debt486.5 484.2 1,655.9 1,585.7 18.2 15.6 2.8 2.4 2,163.4 2,087.9 
Covered Bonds178.4 178.4 363.2 350.6 — — — — 541.6 529.0 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds506.1 506.8 2,083.1 1,979.7 350.4 307.3 — — 2,939.6 2,793.8 
Other Asset-Backed694.9 676.0 3,563.1 3,382.1 1,291.3 1,223.5 113.9 109.9 5,663.2 5,391.5 
Commercial Mortgage-Backed49.4 47.4 1,115.5 1,068.5 303.7 277.6 — — 1,468.6 1,393.5 
Total$5,176.3 $5,098.9 $18,662.7 $17,978.0 $11,050.2 $10,140.1 $1,963.0 $1,800.9 $36,852.2 $35,017.9 
Note: Mortgage-backed and asset-backed securities are included in the above table taking into account anticipated future prepayments.
TABLE 43: REMAINING MATURITY OF HELD TO MATURITY DEBT SECURITIES
JUNE 30, 2022ONE YEAR OR LESSONE TO FIVE YEARSFIVE TO TEN YEARSOVER TEN YEARSTOTAL
(In Millions)Amortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair Value
U.S. Government$56.9 $56.5 $— $— $— $— $— $— $56.9 $56.5 
Government Sponsored Agency640.5 583.4 1,865.3 1,689.6 2,094.9 1,872.7 1,206.0 1,078.6 5,806.7 5,224.3 
Non-U.S. Government1,615.6 1,614.0 1,335.0 1,269.4 146.4 134.2 — — 3,097.0 3,017.6 
Corporate Debt228.8 228.0 629.6 600.0 14.8 12.6 — — 873.2 840.6 
Covered Bonds489.6 489.5 1,678.4 1,630.4 510.3 457.3 — — 2,678.3 2,577.2 
Certificates of Deposit554.3 554.3 — — — — — — 554.3 554.3 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds932.8 931.7 4,752.8 4,523.6 380.2 338.8 — — 6,065.8 5,794.1 
Other Asset-Backed58.1 58.0 344.8 344.0 93.2 92.7 — — 496.1 494.7 
Other24.5 23.9 286.1 258.2 57.5 45.4 116.2 38.7 484.3 366.2 
Total$4,601.1 $4,539.3 $10,892.0 $10,315.2 $3,297.3 $2,953.7 $1,322.2 $1,117.3 $20,112.6 $18,925.5 
Note: Mortgage-backed and asset-backed securities are included in the above table taking into account anticipated future prepayments
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value The following table provides information regarding AFS debt securities with no credit losses reported that had been in a continuous unrealized loss position for less than twelve months and for twelve months or longer as of June 30, 2022 and December 31, 2021.
TABLE 41: AVAILABLE FOR SALE DEBT SECURITIES IN UNREALIZED LOSS POSITION WITH NO CREDIT LOSSES REPORTED
JUNE 30, 2022LESS THAN 12 MONTHS12 MONTHS OR LONGERTOTAL
(In Millions)FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES
U.S. Government$988.2 $31.7 $219.1 $29.5 $1,207.3 $61.2 
Obligations of States and Political Subdivisions2,492.4 261.3 871.9 168.7 3,364.3 430.0 
Government Sponsored Agency11,012.3 348.4 3,833.4 403.2 14,845.7 751.6 
Non-U.S. Government 168.4 3.4 198.9 25.5 367.3 28.9 
Corporate Debt1,653.9 57.9 53.3 5.6 1,707.2 63.5 
Covered Bonds407.2 12.9 — — 407.2 12.9 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds1,238.1 58.7 731.4 82.1 1,969.5 140.8 
Other Asset-Backed5,120.4 253.0 271.1 18.7 5,391.5 271.7 
Commercial Mortgage-Backed1,346.5 69.3 47.0 5.8 1,393.5 75.1 
Total$24,427.4 $1,096.6 $6,226.1 $739.1 $30,653.5 $1,835.7 
Note: Five corporate debt AFS securities with a fair value of $144.4 million and unrealized losses of $12.8 million and one sub-sovereign, supranational and non-U.S. agency bonds AFS securities with a fair value of $70.7 million and unrealized losses of $6.7 million have been excluded from the table above as these AFS securities have a $1.7 million allowance for credit losses reported as of June 30, 2022. Refer to the discussion further below and Note 7 - Allowance for Credit Losses for further information.
DECEMBER 31, 2021LESS THAN 12 MONTHS12 MONTHS OR LONGERTOTAL
(In Millions)FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES
U.S. Government$239.0 $9.4 $— $— $239.0 $9.4 
Obligations of States and Political Subdivisions1,699.5 37.4 31.6 1.2 1,731.1 38.6 
Government Sponsored Agency8,207.3 90.2 1,821.4 20.0 10,028.7 110.2 
Non-U.S. Government230.0 9.5 — — 230.0 9.5 
Corporate Debt693.7 9.7 — — 693.7 9.7 
Covered Bonds92.1 0.9 — — 92.1 0.9 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds1,116.8 31.9 172.3 3.5 1,289.1 35.4 
Other Asset-Backed3,815.5 31.4 11.7 0.3 3,827.2 31.7 
Commercial Mortgage-Backed566.8 3.2 — — 566.8 3.2 
Total$16,660.7 $223.6 $2,037.0 $25.0 $18,697.7 $248.6 
Debt Securities, Held-to-maturity The following tables provide the amortized cost and fair values as of June 30, 2022 and December 31, 2021, and remaining maturities of held to maturity (HTM) debt securities as of June 30, 2022.
TABLE 42: RECONCILIATION OF AMORTIZED COST TO FAIR VALUE OF HELD TO MATURITY DEBT SECURITIES
JUNE 30, 2022
(In Millions)AMORTIZED
COST		GROSS UNREALIZED GAINSGROSS UNREALIZED LOSSESFAIR
VALUE
U.S Government$56.9 $0.1 $0.5 $56.5 
Government Sponsored Agency5,806.7 0.1 582.5 5,224.3 
Non-U.S. Government3,097.0 0.1 79.5 3,017.6 
Corporate Debt873.2 — 32.6 840.6 
Covered Bonds2,678.3 0.4 101.5 2,577.2 
Certificates of Deposit554.3 — — 554.3 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds6,065.8 1.9 273.6 5,794.1 
Other Asset-Backed496.1 — 1.4 494.7 
Other484.3 — 118.1 366.2 
Total$20,112.6 $2.6 $1,189.7 $18,925.5 
DECEMBER 31, 2021
(In Millions)AMORTIZED
COST		GROSS UNREALIZED GAINSGROSS UNREALIZED LOSSES FAIR
VALUE
U.S. Government$47.0 $— $— $47.0 
Obligations of States and Political Subdivisions0.8 — — 0.8 
Government Sponsored Agency5,927.6 1.1 106.1 5,822.6 
Non-U.S. Government5,773.3 3.9 9.8 5,767.4 
Corporate Debt901.8 2.5 6.5 897.8 
Covered Bonds2,942.4 8.3 9.6 2,941.1 
Certificates of Deposit674.7 — — 674.7 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds6,098.0 14.3 80.0 6,032.3 
Other Asset-Backed682.6 1.0 — 683.6 
Other516.3 3.4 71.6 448.1 
Total$23,564.5 $34.5 $283.6 $23,315.4 
Debt Securities, Held-to-maturity, Credit Quality Indicator The following table provides the amortized cost of HTM debt securities by credit rating.
TABLE 44: AMORTIZED COST OF HELD TO MATURITY DEBT SECURITIES BY CREDIT RATING
JUNE 30, 2022
(In Millions)AAAAAABBBNOT RATEDTOTAL
U.S. Government$56.9 $— $— $— $— $56.9 
Government Sponsored Agency5,806.7 — — — — 5,806.7 
Non-U.S. Government720.4 923.9 1,136.7 316.0 — 3,097.0 
Corporate Debt2.1 353.4 517.7 — — 873.2 
Covered Bonds2,678.3 — — — — 2,678.3 
Certificates of Deposit— — — — 554.3 554.3 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds4,380.3 1,656.0 28.4 1.1 — 6,065.8 
Other Asset-Backed496.1 — — — — 496.1 
Other69.8 — — — 414.5 484.3 
Total$14,210.6 $2,933.3 $1,682.8 $317.1 $968.8 $20,112.6 
Percent of Total71 %15 %8 %1 %5 %100 %
DECEMBER 31, 2021
(In Millions)AAAAAABBBNOT RATEDTOTAL
U.S. Government$47.0 $— $— $— $— $47.0 
Obligations of States and Political Subdivisions— 0.8 — — — 0.8 
Government Sponsored Agency5,927.6 — — — — 5,927.6 
Non-U.S. Government398.0 942.6 4,088.8 343.9 — 5,773.3 
Corporate Debt2.3 386.7 512.8 — — 901.8 
Covered Bonds2,942.4 — — — — 2,942.4 
Certificates of Deposit— — — — 674.7 674.7 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds4,207.6 1,858.0 31.3 1.1 — 6,098.0 
Other Asset-Backed682.6 — — — — 682.6 
Other— — — — 516.3 516.3 
Total$14,207.5 $3,188.1 $4,632.9 $345.0 $1,191.0 $23,564.5 
Percent of Total60 %14 %20 %1 %5 %100 %