Commitments and Contingent Liabilities (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2021 and December 31, 2020.

TABLE 74: SUMMARY OF OFF-BALANCE SHEET FINANCIAL INSTRUMENTS

	SEPTEMBER 30, 2021						DECEMBER 31, 2020
($ In Millions)	ONE YEAR AND LESS		OVER ONE YEAR		TOTAL		ONE YEAR AND LESS		OVER ONE YEAR		TOTAL
Undrawn Commitments(1)	$	9,152.6	$	18,597.6	$	27,750.2	$	11,260.5	$	17,678.0	$	28,938.5
Standby Letters of Credit and Financial Guarantees(2)(3)	1,727.4		453.8		2,181.2		1,228.1		763.5		1,991.6
Commercial Letters of Credit	73.1		—		73.1		54.6		—		54.6
Custody Securities Lent with Indemnification	180,619.4		—		180,619.4		157,478.0		—		157,478.0
Total Off-Balance Sheet Financial Instruments	$	191,572.5	$	19,051.4	$	210,623.9	$	170,021.2	$	18,441.5	$	188,462.7

(1) These amounts exclude $365.9 million and $384.7 million of commitments participated to others at September 30, 2021 and December 31, 2020, respectively.

(2) These amounts include $33.5 million and $24.2 million of standby letters of credit secured by cash deposits or participated to others as of September 30, 2021 and December 31, 2020, respectively.

(3) This amount includes a $509.0 million guarantee to the Fixed Income Clearing Corporation (FICC) under the sponsored member program, without taking into consideration the related collateral, as of September 30, 2021. As of December 31, 2020, there was no guarantee to the FICC as Northern Trust became a sponsored member during the third quarter of 2021.