COMMITMENTS AND CONTINGENT LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Activity of Funding Agreements with FHLBNY

Change in FHLBNY Funding Agreements during the Three Months Ended March 31, 2020

	Outstanding Balance at December 31, 2019		Issued During the Period		Repaid During the Period		Long-term Agreements Maturing Within One Year			Outstanding Balance at March 31, 2020
	(in millions)
Short-term funding agreements:
Due in one year or less	$	4,608	$	11,750	$	11,900	$	174		$	4,632
Long-term funding agreements:
Due in years two through five	1,646		—		—		(174		)	1,472
Due in more than five years	646		—		—		—			646
Total long-term funding agreements	2,292		—		—		(174		)	2,119
Total funding agreements (1)	$	6,900	$	11,750	$	11,900	$	—		$	6,750

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(1)

The $9 million and $9 million difference between the funding agreements carrying value shown in fair value table for March 31, 2020 and December 31, 2019, respectively, reflects the remaining amortization of a hedge implemented and closed, which locked in the funding agreements borrowing rates.