Securities Sold Under Agreements to Repurchase

9 Months Ended

Sep. 30, 2022

Banking and Thrift, Other Disclosure [Abstract]

Securities Sold Under Agreements to Repurchase

Securities Sold Under Agreements to Repurchase

Securities sold under agreements to repurchase are accounted for as collateralized financings and recorded at the amounts at which the securities were sold plus accrued interest. To minimize any potential credit risk associated with these transactions, the fair value of the securities sold is monitored, limits are set on exposure with counterparties, and the financial condition of counterparties is regularly assessed. Securities sold under agreements to repurchase are either directly held by, or pledged to the counterparty until the repurchase. Northern Trust nets securities sold under repurchase agreements against those purchased under resale agreements when the Fixed Income Clearing Corporation (FICC) is the counterparty.

The following table provides information regarding repurchase agreements that are accounted for as secured borrowings as of September 30, 2022 and December 31, 2021.

TABLE 45: REPURCHASE AGREEMENTS ACCOUNTED FOR AS SECURED BORROWINGS

	REMAINING CONTRACTUAL MATURITY OF THE AGREEMENTS
	SEPTEMBER 30, 2022						DECEMBER 31, 2021
($ In Millions)	OVERNIGHT AND CONTINUOUS		UP TO 30 DAYS		TOTAL		OVERNIGHT AND CONTINUOUS		UP TO 30 DAYS		TOTAL
U.S. Treasury and Agency Securities	$	561.4	$	—	$	561.4	$	32.4	$	499.5	$	531.9
Total Borrowings	561.4		—		561.4		32.4		499.5		531.9
Net Amount of Recognized Liabilities for Repurchase Agreements in Note 23	561.4		—		561.4		32.4		499.5		531.9
Amounts related to agreements not included in Note 23	—		—		—		—		—		—