COMMITMENTS AND CONTINGENT LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Activity of Funding Agreements with FHLBNY

Change in FHLBNY Funding Agreements during the Six Months Ended June 30, 2020

	Outstanding Balance at December 31, 2019		Issued During the Period		Repaid During the Period		Long-term Agreements Maturing Within One Year		Long-term Agreements Maturing Within Five Year		Outstanding Balance at June 30, 2020
	(in millions)
Short-term funding agreements:
Due in one year or less	$	4,608	$	22,950	$	23,158	$	490	$	—	$	4,890
Long-term funding agreements:
Due in years two through five	1,646		—		—		(490)		112		1,268
Due in more than five years	646		—		—		—		(112)		534
Total long-term funding agreements	2,292		—		—		(490)		—		1,802
Total funding agreements (1)	$	6,900	$	22,950	$	23,158	$	—	$	—	$	6,692

_____________

(1)The $8 million and $9 million difference between the funding agreements carrying value shown in fair value table for June 30, 2020 and December 31, 2019, respectively, reflects the remaining amortization of a hedge implemented and closed, which locked in the funding agreements borrowing rates.