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SECURITIES BORROWING AND LENDING (Tables)
3 Months Ended
Mar. 31, 2024
Offsetting [Abstract]  
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, 2023 and March 31, 2024:
December 31,March 31,
(in millions)20232024
AssetsSecurities borrowed
Gross amount of cash collateral provided to users for securities borrowing transactions
$1,602 $2,107 
Gross amount offset on the consolidated balance sheets— — 
Amounts of assets presented on the consolidated balance sheets1,602 2,107 
Gross amount not offset on the consolidated balance sheets:
Cash collateral provided to users and third parties for securities borrowing transactions
1,602 2,107 
Fair value of securities borrowed from users and third parties
(1,536)(2,060)
Net amount$66 $47 
LiabilitiesSecurities loaned
Gross amount of cash collateral received from counterparties for securities lending transactions
$3,547 $4,215 
Gross amount offset on the consolidated balance sheets
— — 
Amounts of liabilities presented on the consolidated balance sheets3,547 4,215 
Gross amount not offset on the consolidated balance sheets:
Cash collateral received from counterparties for securities lending transactions
3,547 4,215 
Fair value of securities pledged to counterparties
(3,188)(3,834)
Net amount$359 $381 
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, 2023 and March 31, 2024:
December 31,March 31,
(in millions)20232024
AssetsSecurities borrowed
Gross amount of cash collateral provided to users for securities borrowing transactions
$1,602 $2,107 
Gross amount offset on the consolidated balance sheets— — 
Amounts of assets presented on the consolidated balance sheets1,602 2,107 
Gross amount not offset on the consolidated balance sheets:
Cash collateral provided to users and third parties for securities borrowing transactions
1,602 2,107 
Fair value of securities borrowed from users and third parties
(1,536)(2,060)
Net amount$66 $47 
LiabilitiesSecurities loaned
Gross amount of cash collateral received from counterparties for securities lending transactions
$3,547 $4,215 
Gross amount offset on the consolidated balance sheets
— — 
Amounts of liabilities presented on the consolidated balance sheets3,547 4,215 
Gross amount not offset on the consolidated balance sheets:
Cash collateral received from counterparties for securities lending transactions
3,547 4,215 
Fair value of securities pledged to counterparties
(3,188)(3,834)
Net amount$359 $381