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Debt securities available-for-sale (Tables)
6 Months Ended
Jun. 30, 2023
Investments [Abstract]  
Debt Securities, Available-For-Sale
At June 30, 2023
Gross
Gross
Weighted
Amortized
unrealized
unrealized
Fair
 
average
(In thousands)
cost
gains
 
losses
value
yield
U.S. Treasury securities
Within 1 year
$
5,923,108
$
738
$
64,897
$
5,858,949
3.17
%
After 1 to 5 years
5,164,568
-
325,078
4,839,490
1.34
After 5 to 10 years
308,191
-
38,648
269,543
1.63
Total U.S. Treasury
 
securities
11,395,867
738
428,623
10,967,982
2.30
Collateralized mortgage obligations - federal agencies
After 1 to 5 years
21,581
-
1,416
20,165
1.53
After 5 to 10 years
22,328
-
1,871
20,457
1.96
After 10 years
118,716
21
11,307
107,430
2.57
Total collateralized
 
mortgage obligations - federal agencies
162,625
21
14,594
148,052
2.35
Mortgage-backed securities
Within 1 year
2,049
-
48
2,001
3.39
After 1 to 5 years
74,177
7
4,006
70,178
2.36
After 5 to 10 years
818,545
27
61,887
756,685
2.20
After 10 years
6,420,939
606
1,125,259
5,296,286
1.63
Total mortgage-backed
 
securities
 
7,315,710
640
1,191,200
6,125,150
1.70
Other
After 1 to 5 years
1,034
-
1
1,033
3.99
Total other
 
1,034
-
1
1,033
3.99
Total debt securities
 
available-for-sale
[1]
$
18,875,236
$
1,399
$
1,634,418
$
17,242,217
2.07
%
[1]
 
Includes $
12.9
 
billion pledged to secure government and trust
 
deposits, assets sold under agreements to repurchase, credit
 
facilities and loan
servicing agreements that the secured parties are not permitted
 
to sell or repledge the collateral, of which $
11.9
 
billion serve as collateral for
public funds.
 
The Corporation had unpledged Available
 
for Sale securities with a fair value of
 
$
4.2
 
billion that could be used to increase its
borrowing facilities.
At December 31, 2022
Gross
 
Gross
 
Weighted
 
Amortized
 
unrealized
unrealized
Fair
 
average
 
(In thousands)
cost
gains
 
losses
value
yield
U.S. Treasury securities
 
Within 1 year
$
4,576,127
$
506
$
47,156
$
4,529,477
2.42
%
After 1 to 5 years
6,793,739
-
410,858
6,382,881
1.35
After 5 to 10 years
308,854
-
40,264
268,590
1.63
Total U.S. Treasury
 
securities
11,678,720
506
498,278
11,180,948
1.78
Collateralized mortgage obligations - federal agencies
After 1 to 5 years
3,914
-
213
3,701
1.77
After 5 to 10 years
47,979
-
3,428
44,551
1.73
After 10 years
127,639
24
10,719
116,944
2.53
Total collateralized
 
mortgage obligations - federal agencies
179,532
24
14,360
165,196
2.30
Mortgage-backed securities
After 1 to 5 years
74,328
11
3,428
70,911
2.33
After 5 to 10 years
866,757
43
58,997
807,803
2.16
After 10 years
6,762,150
932
1,184,626
5,578,456
1.61
Total mortgage-backed
 
securities
 
7,703,235
986
1,247,051
6,457,170
1.68
Other
After 1 to 5 years
1,062
-
2
1,060
3.98
Total other
 
1,062
-
2
1,060
3.98
Total debt securities
 
available-for-sale
[1]
$
19,562,549
$
1,516
$
1,759,691
$
17,804,374
1.75
%
[1]
Includes $
11.3
 
billion pledged to secure government and trust deposits,
 
assets sold under agreements to repurchase, credit facilities
 
and loan
servicing agreements that the secured parties are not permitted
 
to sell or repledge the collateral, of which $
10.3
 
billion serve as collateral for
public funds. The Corporation had unpledged Available
 
for Sale securities with a fair value of
 
$
6.4
 
billion that could be used to increase its
borrowing facilities.
Debt Securities Available For Sale Unrealized Loss Position Fair Value
At June 30, 2023
Less than 12 months
12 months or more
Total
Gross
Gross
Gross
Fair
 
 
unrealized
Fair
 
 
unrealized
Fair
 
 
unrealized
(In thousands)
value
 
losses
value
 
losses
value
 
losses
U.S. Treasury securities
$
490,744
$
11,327
$
7,622,733
$
417,296
$
8,113,477
$
428,623
Collateralized mortgage obligations - federal agencies
 
37,683
2,204
107,840
12,390
145,523
14,594
Mortgage-backed securities
171,299
10,042
5,916,052
1,181,158
6,087,351
1,191,200
Other
33
1
-
-
33
1
Total debt securities
 
available-for-sale in an unrealized loss position
 
$
699,759
$
23,574
$
13,646,625
$
1,610,844
$
14,346,384
$
1,634,418
At December 31, 2022
Less than 12 months
12 months or more
Total
Gross
Gross
Gross
Fair
 
 
unrealized
Fair
 
 
unrealized
Fair
 
 
unrealized
(In thousands)
value
 
losses
value
 
losses
value
 
losses
U.S. Treasury securities
$
6,027,786
$
288,582
$
3,244,572
$
209,696
$
9,272,358
$
498,278
Collateralized mortgage obligations - federal agencies
 
139,845
10,655
22,661
3,705
162,506
14,360
Mortgage-backed securities
1,740,214
138,071
4,662,195
1,108,980
6,402,409
1,247,051
Other
60
2
-
-
60
2
Total debt securities
 
available-for-sale in an unrealized loss position
 
$
7,907,905
$
437,310
$
7,929,428
$
1,322,381
$
15,837,333
$
1,759,691