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Securities (Tables)
 12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Reconciliation of Amortized Cost to Fair Value of Securities Available for Sale The following tables provide the amortized cost, fair values, and remaining maturities of AFS debt securities.
TABLE 57: RECONCILIATION OF AMORTIZED COST TO FAIR VALUE OF AVAILABLE FOR SALE DEBT SECURITIES
DECEMBER 31, 2021
(In Millions)AMORTIZED
COST		GROSS
UNREALIZED
GAINS		GROSS
UNREALIZED
LOSSES		FAIR
VALUE
U.S. Government$2,406.2 $29.3 $9.4 $2,426.1 
Obligations of States and Political Subdivisions3,841.0 73.7 38.6 3,876.1 
Government Sponsored Agency18,092.1 93.7 110.2 18,075.6 
Non-U.S. Government383.4 0.1 9.5 374.0 
Corporate Debt2,319.8 31.6 9.7 2,341.7 
Covered Bonds502.6 3.9 0.9 505.6 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds3,052.4 28.1 35.4 3,045.1 
Other Asset-Backed5,962.0 11.3 31.7 5,941.6 
Commercial Mortgage-Backed1,389.0 38.9 3.2 1,424.7 
Total$37,948.5 $310.6 $248.6 $38,010.5 
DECEMBER 31, 2020
(In Millions)AMORTIZED
COST		GROSS
UNREALIZED
GAINS		GROSS
UNREALIZED
LOSSES		FAIR
VALUE
U.S. Government$2,728.8 $71.1 $— $2,799.9 
Obligations of States and Political Subdivisions2,927.8 155.9 0.1 3,083.6 
Government Sponsored Agency24,595.1 388.5 26.9 24,956.7 
Non-U.S. Government713.6 1.1 0.7 714.0 
Corporate Debt2,459.9 79.8 0.1 2,539.6 
Covered Bonds543.1 10.0 — 553.1 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds2,281.7 64.7 0.6 2,345.8 
Other Asset-Backed3,953.5 46.8 2.8 3,997.5 
Commercial Mortgage-Backed952.2 79.7 0.1 1,031.8 
Total$41,155.7 $897.6 $31.3 $42,022.0 
Remaining Maturity of Securities
DECEMBER 31, 2021ONE YEAR OR LESSONE TO FIVE YEARSFIVE TO TEN YEARSOVER TEN YEARSTOTAL
(In Millions)Amortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair Value
U.S. Government$— $— $2,157.8 $2,187.1 $248.4 $239.0 $— $— $2,406.2 $2,426.1 
Obligations of States and Political Subdivisions22.8 23.0 448.3 462.1 3,239.7 3,262.6 130.2 128.4 3,841.0 3,876.1 
Government Sponsored Agency2,706.1 2,713.2 8,112.2 8,121.1 6,084.0 6,053.4 1,189.8 1,187.9 18,092.1 18,075.6 
Non-U.S. Government72.7 72.7 228.4 223.1 82.3 78.2 — — 383.4 374.0 
Corporate Debt404.4 408.0 1,892.6 1,911.6 18.1 17.5 4.7 4.6 2,319.8 2,341.7 
Covered Bonds141.5 142.1 361.1 363.5 — — — — 502.6 505.6 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds760.6 765.7 1,926.8 1,926.1 365.0 353.3 — — 3,052.4 3,045.1 
Other Asset-Backed894.0 896.8 3,559.0 3,541.4 1,291.6 1,286.3 217.4 217.1 5,962.0 5,941.6 
Commercial Mortgage-Backed7.5 7.4 962.3 982.1 419.2 435.2 — — 1,389.0 1,424.7 
Total$5,009.6 $5,028.9 $19,648.5 $19,718.1 $11,748.3 $11,725.5 $1,542.1 $1,538.0 $37,948.5 $38,010.5 
Note: Mortgage-backed and asset-backed securities are included in the above table taking into account anticipated future prepayments.
DECEMBER 31, 2021ONE YEAR OR LESSONE TO FIVE YEARSFIVE TO TEN YEARSOVER TEN YEARSTOTAL
(In Millions)Amortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair Value
U.S. Government$47.0 $47.0 $— $— $— $— $— $— $47.0 $47.0 
Obligations of States and Political Subdivisions0.8 0.8 — — — — — — 0.8 0.8 
Government Sponsored Agency1,161.5 1,143.6 2,101.4 2,064.6 1,848.8 1,815.0 815.9 799.4 5,927.6 5,822.6 
Non-U.S. Government4,502.7 4,502.6 1,109.2 1,103.9 161.4 160.9 — — 5,773.3 5,767.4 
Corporate Debt177.4 178.8 708.3 703.4 16.1 15.6 — — 901.8 897.8 
Covered Bonds650.1 651.3 1,684.0 1,688.0 608.3 601.8 — — 2,942.4 2,941.1 
Certificates of Deposit674.7 674.7 — — — — — — 674.7 674.7 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds1,086.9 1,091.5 4,507.7 4,451.4 503.4 489.4 — — 6,098.0 6,032.3 
Other Asset-Backed190.4 190.6 398.0 398.7 94.2 94.3 — — 682.6 683.6 
Other106.0 104.1 232.0 221.8 60.1 58.4 118.2 63.8 516.3 448.1 
Total$8,597.5 $8,585.0 $10,740.6 $10,631.8 $3,292.3 $3,235.4 $934.1 $863.2 $23,564.5 $23,315.4 
Note: Mortgage-backed and asset-backed securities are included in the above table taking into account anticipated future prepayments.
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value The following table provides information regarding AFS debt securities with no credit losses reported that had been in a continuous unrealized loss position for less than twelve months and for twelve months or longer as of December 31, 2021 and 2020.
TABLE 59: AVAILABLE FOR SALE DEBT SECURITIES IN UNREALIZED LOSS POSITION WITH NO CREDIT LOSSES REPORTED
AS OF DECEMBER 31, 2021LESS THAN 12 MONTHS12 MONTHS OR LONGERTOTAL
(In Millions)FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES
U.S. Government$239.0 $9.4 $— $— $239.0 $9.4 
Obligations of States and Political Subdivisions1,699.5 37.4 31.6 1.2 1,731.1 38.6 
Government Sponsored Agency8,207.3 90.2 1,821.4 20.0 10,028.7 110.2 
Non-U.S. Government 230.0 9.5 — — 230.0 9.5 
Corporate Debt693.7 9.7 — — 693.7 9.7 
Covered Bonds92.1 0.9 — — 92.1 0.9 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds1,116.8 31.9 172.3 3.5 1,289.1 35.4 
Other Asset-Backed3,815.5 31.4 11.7 0.3 3,827.2 31.7 
Commercial Mortgage-Backed566.8 3.2 — — 566.8 3.2 
Total$16,660.7 $223.6 $2,037.0 $25.0 $18,697.7 $248.6 
AS OF DECEMBER 31, 2020LESS THAN 12 MONTHS12 MONTHS OR LONGERTOTAL
(In Millions)FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES
Obligations of States and Political Subdivisions$52.3 $0.1 $— $— $52.3 $0.1 
Government Sponsored Agency2,402.3 13.6 2,528.7 13.3 4,931.0 26.9 
Non-U.S. Government90.5 0.7 — — 90.5 0.7 
Corporate Debt66.6 0.1 — — 66.6 0.1 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds162.8 0.5 49.9 0.1 212.7 0.6 
Other Asset-Backed176.8 0.2 792.3 2.6 969.1 2.8 
Commercial Mortgage-Backed44.4 0.1 — — 44.4 0.1 
Total$2,995.7 $15.3 $3,370.9 $16.0 $6,366.6 $31.3 
Reconciliation of Amortized Cost to Fair Values of Securities Held to Maturity The following tables provide the amortized cost, fair values and remaining maturities of held to maturity (HTM) debt securities.
TABLE 60: RECONCILIATION OF AMORTIZED COST TO FAIR VALUES OF HELD TO MATURITY DEBT SECURITIES
DECEMBER 31, 2021
(In Millions)AMORTIZED
COST		GROSS
UNREALIZED
GAINS		GROSS
UNREALIZED
LOSSES		FAIR
VALUE
U.S. Government$47.0 $— $— $47.0 
Obligations of States and Political Subdivisions0.8 — — 0.8 
Government Sponsored Agency5,927.6 1.1 106.1 5,822.6 
Non-U.S. Government5,773.3 3.9 9.8 5,767.4 
Corporate Debt901.8 2.5 6.5 897.8 
Covered Bonds2,942.4 8.3 9.6 2,941.1 
Certificates of Deposit674.7 — — 674.7 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds6,098.0 14.3 80.0 6,032.3 
Other Asset-Backed682.6 1.0 — 683.6 
Other516.3 3.4 71.6 448.1 
Total$23,564.5 $34.5 $283.6 $23,315.4 
DECEMBER 31, 2020
(In Millions)AMORTIZED
COST		GROSS
UNREALIZED
GAINS		GROSS
UNREALIZED
LOSSES		FAIR
VALUE
U.S. Government$90.0 $— $— $90.0 
Obligations of States and Political Subdivisions2.1 0.1 — 2.2 
Government Sponsored Agency3.0 0.3 — 3.3 
Non-U.S. Government8,336.6 7.3 0.2 8,343.7 
Corporate Debt588.0 6.5 0.1 594.4 
Covered Bonds3,184.6 24.6 0.3 3,208.9 
Certificates of Deposit807.2 — — 807.2 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds3,648.0 43.5 0.9 3,690.6 
Other Asset-Backed677.0 0.9 — 677.9 
Other454.6 1.1 76.5 379.2 
Total$17,791.1 $84.3 $78.0 $17,797.4 
Debt Securities, Held-to-maturity, Credit Quality Indicator The following table provides the amortized cost of HTM debt securities by credit rating.
TABLE 62: AMORTIZED COST OF HELD TO MATURITY DEBT SECURITIES BY CREDIT RATING
AS OF DECEMBER 31, 2021
(In Millions)AAAAAABBBNOT RATEDTOTAL
U.S. Government$47.0 $— $— $— $— $47.0 
Obligations of States and Political Subdivisions— 0.8 — — — 0.8 
Government Sponsored Agency5,927.6 — — — — 5,927.6 
Non-U.S. Government398.0 942.6 4,088.8 343.9 — 5,773.3 
Corporate Debt2.3 386.7 512.8 — — 901.8 
Covered Bonds2,942.4 — — — — 2,942.4 
Certificates of Deposit— — — — 674.7 674.7 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds4,207.6 1,858.0 31.3 1.1 — 6,098.0 
Other Asset-Backed682.6 — — — — 682.6 
Other— — — — 516.3 516.3 
Total$14,207.5 $3,188.1 $4,632.9 $345.0 $1,191.0 $23,564.5 
Percent of Total60 %14 %20 %1 %5 %100 %
AS OF DECEMBER 31, 2020
(In Millions)AAAAAABBBNOT RATEDTOTAL
U.S. Government$90.0 $— $— $— $— $90.0 
Obligations of States and Political Subdivisions— 1.0 — 1.1 — 2.1 
Government Sponsored Agency3.0 — — — — 3.0 
Non-U.S. Government319.8 1,337.4 6,630.6 48.8 — 8,336.6 
Corporate Debt3.8 279.1 305.1 — — 588.0 
Covered Bonds3,184.6 — — — — 3,184.6 
Certificates of Deposit— — — — 807.2 807.2 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds2,590.9 1,057.1 — — — 3,648.0 
Other Asset-Backed677.0 — — — — 677.0 
Other— — — — 454.6 454.6 
Total$6,869.1 $2,674.6 $6,935.7 $49.9 $1,261.8 $17,791.1 
Percent of Total39 %15 %39 %— %7 %100 %
Schedule of Realized Gain (Loss) Proceeds of $116.7 million, $879.9 million, and $1.2 billion in 2021, 2020, and 2019, respectively, from the sale of debt securities resulted in the following gains and losses shown in the following table.
TABLE 63: INVESTMENT SECURITY GAINS AND LOSSES
DECEMBER 31,
(In Millions)202120202019
Gross Realized Debt Securities Gains$1.4 $3.4 $2.4 
Gross Realized Debt Securities Losses(1.7)(3.8)(3.5)
Changes in Other-Than-Temporary Impairment Losses(1)
— — (0.3)
Net Investment Security Losses$(0.3)$(0.4)$(1.4)
(1) Other-than-temporary impairment losses relate to certain Community Reinvestment Act (CRA) eligible HTM debt securities.