SECURITIES BORROWING AND LENDING (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Assets Subject to Master Netting Arrangement

The following tables set forth certain balances related to our securities borrowing and lending activities as of December 31, 2022 and March 31, 2023:


	December 31,		March 31,
(in millions)	2022		2023
Assets	Securities borrowed
Gross amount of securities borrowed	$	517	$	844
Gross amount offset on the consolidated balance sheets	—		—
Amounts of assets presented on the consolidated balance sheets	517		844
Gross amount of securities borrowed not offset on the consolidated balance sheets:
Securities borrowed	517		844
Security collateral received	(509)		(846)
Net amount	$	8	$	(2)

Liabilities	Securities loaned
Gross amount of securities loaned	$	1,834	$	2,609
Gross amount of securities loaned offset on the consolidated balance sheets	—		—
Amounts of liabilities presented on the consolidated balance sheets	1,834		2,609
Gross amount of securities loaned not offset on the consolidated balance sheets:
Securities loaned	1,834		2,609
Security collateral pledged	(1,629)		(2,368)
Net amount	$	205	$	241

Schedule of liabilities Subject to Master Netting Arrangement

The following tables set forth certain balances related to our securities borrowing and lending activities as of December 31, 2022 and March 31, 2023:


	December 31,		March 31,
(in millions)	2022		2023
Assets	Securities borrowed
Gross amount of securities borrowed	$	517	$	844
Gross amount offset on the consolidated balance sheets	—		—
Amounts of assets presented on the consolidated balance sheets	517		844
Gross amount of securities borrowed not offset on the consolidated balance sheets:
Securities borrowed	517		844
Security collateral received	(509)		(846)
Net amount	$	8	$	(2)

Liabilities	Securities loaned
Gross amount of securities loaned	$	1,834	$	2,609
Gross amount of securities loaned offset on the consolidated balance sheets	—		—
Amounts of liabilities presented on the consolidated balance sheets	1,834		2,609
Gross amount of securities loaned not offset on the consolidated balance sheets:
Securities loaned	1,834		2,609
Security collateral pledged	(1,629)		(2,368)
Net amount	$	205	$	241