Commitment and Contingent Liabilities (Tables)

3 Months Ended

Mar. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of Fair Value, Off-balance Sheet Risks

The following table provides details of Northern Trust's off-balance sheet financial instruments as of March 31, 2021 and December 31, 2020.

TABLE 69: SUMMARY OF OFF-BALANCE SHEET FINANCIAL INSTRUMENTS

	MARCH 31, 2021						DECEMBER 31, 2020
($ In Millions)	ONE YEAR AND LESS		OVER ONE YEAR		TOTAL		ONE YEAR AND LESS		OVER ONE YEAR		TOTAL
Undrawn Commitments to Extend Credit(1)	$	11,519.7	$	18,016.0	$	29,535.7	$	11,260.5	$	17,678.0	$	28,938.5
Standby Letters of Credit and Financial Guarantees(2)	1,474.8		321.0		1,795.8		1,228.1		763.5		1,991.6
Commercial Letters of Credit	66.2		—		66.2		54.6		—		54.6
Custody Securities Lent with Indemnification	176,378.0		—		176,378.0		157,478.0		—		157,478.0
Total Off-Balance Sheet Financial Instruments	$	189,438.7	$	18,337.0	$	207,775.7	$	170,021.2	$	18,441.5	$	188,462.7

(1) These amounts exclude $404.2 million and $384.7 million of commitments participated to others at March 31, 2021 and December 31, 2020, respectively.

(2) These amounts include $23.8 million and $24.2 million of standby letters of credit secured by cash deposits or participated to others as of March 31, 2021 and December 31, 2020, respectively.