Offsetting Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Offsetting Assets and Liabilities [Abstract]

Offsetting Assets and Liabilities [Table Text Block]

The following table presents information about these transactions to enable the users of the Company’s consolidated financial statements to evaluate the potential effect of rights of set-off between these recognized assets and liabilities (dollars in millions):



							Gross Amounts Not Offset in the Consolidated Balance Sheet
	Gross Amounts of Recognized Assets and Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts Presented in the Consolidated Balance Sheet ⁽¹⁾⁽²⁾		Financial Instruments			Collateral Received or Pledged (Including Cash)			Net Amount
December 31, 2019:
Assets:
Securities purchased under agreements to resell ⁽³⁾	$	200	$	—	$	200	$	—		$	(200	)	$	—
Securities borrowed ⁽⁴⁾	1,116		—		1,116		(83		)	(1,003		)	30
Total	$	1,316	$	—	$	1,316	$	(83	)	$	(1,203	)	$	30

Liabilities:
Securities loaned ⁽⁵⁾	$	838	$	—	$	838	$	(83	)	$	(699	)	$	56
Total	$	838	$	—	$	838	$	(83	)	$	(699	)	$	56

December 31, 2018:
Assets:
Securities borrowed ⁽⁴⁾	$	176	$	—	$	176	$	(104	)	$	(61	)	$	11
Total	$	176	$	—	$	176	$	(104	)	$	(61	)	$	11

Liabilities:
Securities loaned ⁽⁵⁾	$	887	$	—	$	887	$	(104	)	$	(700	)	$	83
Total	$	887	$	—	$	887	$	(104	)	$	(700	)	$	83


(1)	Securities purchased under agreements to resell are included in the other assets line item in the consolidated balance sheet.

(2)

The vast majority of the net amount of cash collateral paid for securities borrowed are reflected in the receivables from brokers, dealers and clearing organizations line item while the cash collateral paid for securities borrowed under the fully paid lending program are reflected in other assets. Cash collateral received for securities loaned are reflected in the payables to brokers, dealers and clearing organizations line item in the consolidated balance sheet.


(3)	Securities purchased under agreements to resell were over-collateralized at December 31, 2019, as the market value of the securities received by the Company was $206 million.

(4)

Included in the gross amounts of cash collateral paid for securities borrowed was $757 million and $65 million at December 31, 2019 and 2018, respectively, transacted through a program with a clearing organization, which guarantees the return of cash to the Company. For presentation purposes, these amounts presented are based on the counterparties under the Company’s master securities loan agreements.

(5)

Included in the gross amounts of cash collateral received for securities loaned was $401 million and $543 million at December 31, 2019 and 2018, respectively, transacted through a program with a clearing organization, which guarantees the return of securities to the Company. For presentation purposes, these amounts presented are based on the counterparties under the Company’s master securities loan agreements.