Pledged and Restricted Assets (Tables)

12 Months Ended

Dec. 31, 2022

Financial Instruments Owned and Pledged as Collateral [Abstract]

Type of Pledged Assets

The following table presents Northern Trust’s pledged assets.

TABLE 129: TYPE OF PLEDGED ASSETS

	FOR THE YEAR ENDED DECEMBER 31,
(In Billions)	2022		2021
Securities
Obligations of States and Political Subdivisions	$	3.2	$	3.7
Government Sponsored Agency and Other Securities	28.2		35.6
Loans	11.8		15.3
Total Pledged Assets	$	43.2	$	54.6

The following table presents the AFS debt securities pledged as collateral that are included in pledged assets.

TABLE 130: FAIR VALUE OF AVAILABLE FOR SALE DEBT SECURITIES INCLUDED IN PLEDGED ASSETS

	SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE				DERIVATIVE CONTRACTS
(In Millions)	DECEMBER 31, 2022		DECEMBER 31, 2021		DECEMBER 31, 2022		DECEMBER 31, 2021
Debt Securities
Available for Sale	$	464.7	$	524.1	$	34.7	$	17.6

Accepted Collateral

The following table presents the fair value of securities accepted as collateral.

TABLE 131: ACCEPTED COLLATERAL

	FOR THE YEAR ENDED DECEMBER 31,
(In Millions)	2022		2021
Collateral that may be repledged or sold
Reverse repurchase agreements(1)	$	12,119.4	$	1,457.0
Derivative contracts	5.0		2.8
Collateral that may not be repledged or sold
Reverse repurchase agreements	450.0		650.0
Total Collateral Accepted(2)	$	12,574.4	$	2,109.8

(1) The fair value of securities collateral that was repledged or sold totaled $11.5 billion at December 31, 2022. There was $1.4 billion repledged or sold collateral at December 31, 2021.

(2) Higher total accepted collateral was due to increased sponsored member program activity.