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Securities (Tables)
 6 Months Ended
Jun. 30, 2023
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 and fair values as of June 30, 2023 and December 31, 2022, and remaining maturities of AFS debt securities as of June 30, 2023.
TABLE 40: RECONCILIATION OF AMORTIZED COST TO FAIR VALUE OF AVAILABLE FOR SALE DEBT SECURITIES
JUNE 30, 2023
(In Millions)AMORTIZED COSTGROSS UNREALIZED GAINSGROSS UNREALIZED LOSSESFAIR VALUE
U.S. Government$2,942.3 $0.6 $99.0 $2,843.9 
Obligations of States and Political Subdivisions310.2 — 21.0 289.2 
Government Sponsored Agency11,656.4 3.9 311.3 11,349.0 
Non-U.S. Government277.8 — 26.3 251.5 
Corporate Debt479.7 0.3 19.1 460.9 
Covered Bonds353.6 0.2 12.8 341.0 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds3,068.0 1.4 151.4 2,918.0 
Other Asset-Backed5,135.0 0.8 226.2 4,909.6 
Commercial Mortgage-Backed965.4 0.1 64.2 901.3 
Total$25,188.4 $7.3 $931.3 $24,264.4 
DECEMBER 31, 2022
(In Millions)AMORTIZED COSTGROSS UNREALIZED GAINSGROSS UNREALIZED LOSSESFAIR VALUE
U.S. Government$2,837.7 $2.5 $92.8 $2,747.4 
Obligations of States and Political Subdivisions817.8 — 30.2 787.6 
Government Sponsored Agency11,892.5 4.3 351.6 11,545.2 
Non-U.S. Government387.6 — 27.6 360.0 
Corporate Debt1,774.3 0.2 26.9 1,747.6 
Covered Bonds403.1 0.3 14.7 388.7 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds2,645.8 0.3 166.7 2,479.4 
Other Asset-Backed5,544.3 — 288.1 5,256.2 
Commercial Mortgage-Backed1,456.9 0.1 69.2 1,387.8 
Total$27,760.0 $7.7 $1,067.8 $26,699.9 
Remaining Maturity of Securities Available for Sale and Held to Maturity
TABLE 41: REMAINING MATURITY OF AVAILABLE FOR SALE DEBT SECURITIES
JUNE 30, 2023ONE 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$1,094.4 $1,092.7 $1,847.9 $1,751.2 $— $— $— $— $2,942.3 $2,843.9 
Obligations of States and Political Subdivisions— — 45.1 41.6 246.2 229.5 18.9 18.1 310.2 289.2 
Government Sponsored Agency2,278.8 2,236.5 5,336.1 5,196.1 3,282.9 3,197.8 758.6 718.6 11,656.4 11,349.0 
Non-U.S. Government— — 277.8 251.5 — — — — 277.8 251.5 
Corporate Debt198.5 197.0 263.8 249.1 17.4 14.8 — — 479.7 460.9 
Covered Bonds134.1 133.6 219.5 207.4 — — — — 353.6 341.0 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds649.2 640.9 2,256.2 2,143.0 162.6 134.1 — — 3,068.0 2,918.0 
Other Asset-Backed1,191.8 1,136.1 2,732.6 2,579.0 1,106.5 1,091.7 104.1 102.8 5,135.0 4,909.6 
Commercial Mortgage-Backed37.8 35.7 771.9 735.0 155.7 130.6 — — 965.4 901.3 
Total$5,584.6 $5,472.5 $13,750.9 $13,153.9 $4,971.3 $4,798.5 $881.6 $839.5 $25,188.4 $24,264.4 
Note: Mortgage-backed and asset-backed securities are included in the above table taking into account anticipated future prepayments.
TABLE 44: REMAINING MATURITY OF HELD TO MATURITY DEBT SECURITIES
JUNE 30, 2023ONE YEAR OR LESSONE TO FIVE YEARSFIVE TO TEN YEARSOVER TEN YEARSTOTAL
(In Millions)Amortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair Value
Obligations of States and Political Subdivisions$45.0 $44.4 $909.3 $875.0 $1,218.2 $1,163.9 $400.5 $381.4 $2,573.0 $2,464.7 
Government Sponsored Agency876.5 765.3 3,058.1 2,692.9 3,592.4 3,180.0 1,827.2 1,578.8 9,354.2 8,217.0 
Non-U.S. Government2,555.9 2,550.7 1,398.0 1,263.3 33.4 27.9 — — 3,987.3 3,841.9 
Corporate Debt107.0 104.3 547.5 506.5 15.4 12.4 — — 669.9 623.2 
Covered Bonds224.0 219.1 1,741.4 1,638.8 313.3 269.8 — — 2,278.7 2,127.7 
Certificates of Deposit588.2 588.4 — — — — — — 588.2 588.4 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds864.8 854.5 4,724.3 4,254.2 56.7 46.1 — — 5,645.8 5,154.8 
Other Asset-Backed12.3 12.3 79.0 78.8 171.4 171.3 25.3 25.3 288.0 287.7 
Commercial Mortgage-Backed— — 37.6 36.8 — — — — 37.6 36.8 
Other55.4 53.9 326.0 283.6 32.7 23.7 169.5 55.8 583.6 417.0 
Total$5,329.1 $5,192.9 $12,821.2 $11,629.9 $5,433.5 $4,895.1 $2,422.5 $2,041.3 $26,006.3 $23,759.2 
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 June 30, 2023 and December 31, 2022.
TABLE 42: AVAILABLE FOR SALE DEBT SECURITIES IN UNREALIZED LOSS POSITION WITH NO CREDIT LOSSES REPORTED
JUNE 30, 2023LESS THAN 12 MONTHS12 MONTHS OR LONGERTOTAL
(In Millions)FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES
U.S. Government$865.4 $10.4 $1,182.8 $88.6 $2,048.2 $99.0 
Obligations of States and Political Subdivisions— — 289.2 21.0 289.2 21.0 
Government Sponsored Agency2,564.0 13.9 7,969.2 297.4 10,533.2 311.3 
Non-U.S. Government — — 251.5 26.3 251.5 26.3 
Corporate Debt6.9 0.1 311.0 10.6 317.9 10.7 
Covered Bonds— — 256.3 12.8 256.3 12.8 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds542.4 2.8 1,798.7 139.8 2,341.1 142.6 
Other Asset-Backed— — 4,748.4 226.2 4,748.4 226.2 
Commercial Mortgage-Backed1.2 — 872.6 64.2 873.8 64.2 
Total$3,979.9 $27.2 $17,679.7 $886.9 $21,659.6 $914.1 
Note: Three corporate debt AFS securities with a fair value of $92.6 million and unrealized losses of $8.4 million and one sub-sovereign, supranational and non-U.S. agency bond AFS security with a fair value of $68.6 million and unrealized losses of $8.8 million have been excluded from the table above as these AFS securities have a $1.3 million allowance for credit losses reported as of June 30, 2023. Refer to the discussion further below and Note 6—Allowance for Credit Losses for further information.
DECEMBER 31, 2022LESS THAN 12 MONTHS12 MONTHS OR LONGERTOTAL
(In Millions)FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES
U.S. Government$1,123.6 $64.1 $343.1 $28.7 $1,466.7 $92.8 
Obligations of States and Political Subdivisions160.0 16.8 120.6 13.4 280.6 30.2 
Government Sponsored Agency7,631.4 262.1 2,737.7 89.5 10,369.1 351.6 
Non-U.S. Government235.4 17.3 124.6 10.3 360.0 27.6 
Corporate Debt427.3 14.6 130.3 2.8 557.6 17.4 
Covered Bonds238.0 13.5 42.8 1.2 280.8 14.7 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds1,305.4 74.4 807.1 83.2 2,112.5 157.6 
Other Asset-Backed3,873.4 217.5 1,247.6 70.6 5,121.0 288.1 
Commercial Mortgage-Backed670.9 47.4 215.6 21.8 886.5 69.2 
Total$15,665.4 $727.7 $5,769.4 $321.5 $21,434.8 $1,049.2 
Note: Three corporate debt AFS securities with a fair value of $93.8 million and unrealized losses of $9.5 million and one sub-sovereign, supranational and non-U.S. agency bonds AFS security with a fair value of $68.3 million and unrealized loss of $9.1 million have been excluded from the table above as these AFS securities have a $1.3 million allowance for credit losses reported as of December 31, 2022. Refer to the discussion further below and Note 6—Allowance for Credit Losses for further information.
Debt Securities, Held-to-maturity The following tables provide the amortized cost and fair values as of June 30, 2023 and December 31, 2022, and remaining maturities of HTM debt securities as of June 30, 2023.TABLE 43: RECONCILIATION OF AMORTIZED COST TO FAIR VALUE OF HELD TO MATURITY DEBT SECURITIES
JUNE 30, 2023
(In Millions)AMORTIZED
COST		GROSS UNREALIZED GAINSGROSS UNREALIZED LOSSESFAIR
VALUE
Obligations of States and Political Subdivisions$2,573.0 $0.2 $108.5 $2,464.7 
Government Sponsored Agency9,354.2 — 1,137.2 8,217.0 
Non-U.S. Government3,987.3 0.1 145.5 3,841.9 
Corporate Debt669.9 — 46.7 623.2 
Covered Bonds2,278.7 0.3 151.3 2,127.7 
Certificates of Deposit588.2 0.2 — 588.4 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds5,645.8 0.8 491.8 5,154.8 
Other Asset-Backed288.0 0.2 0.5 287.7 
Commercial Mortgage-Backed37.6 — 0.8 36.8 
Other583.6 — 166.6 417.0 
Total$26,006.3 $1.8 $2,248.9 $23,759.2 
DECEMBER 31, 2022
(In Millions)AMORTIZED
COST		GROSS UNREALIZED GAINSGROSS UNREALIZED LOSSES FAIR
VALUE
U.S. Government$50.0 $— $— $50.0 
Obligations of States and Political Subdivisions2,565.3 — 149.8 2,415.5 
Government Sponsored Agency9,407.7 — 1,076.0 8,331.7 
Non-U.S. Government3,234.0 0.1 133.8 3,100.3 
Corporate Debt713.3 — 45.4 667.9 
Covered Bonds2,530.3 0.3 158.7 2,371.9 
Certificates of Deposit35.9 — — 35.9 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds5,703.3 1.0 436.1 5,268.2 
Other Asset-Backed263.7 — 1.0 262.7 
Other532.6 — 157.4 375.2 
Total$25,036.1 $1.4 $2,158.2 $22,879.3 
Debt Securities, Held-to-maturity, Credit Quality Indicator The following table provides the amortized cost of HTM debt securities by credit rating.
TABLE 45: AMORTIZED COST OF HELD TO MATURITY DEBT SECURITIES BY CREDIT RATING
JUNE 30, 2023
(In Millions)AAAAAABBBNOT RATEDTOTAL
Obligations of States and Political Subdivisions$932.1 $1,640.9 $— $— $— $2,573.0 
Government Sponsored Agency9,354.2 — — — — 9,354.2 
Non-U.S. Government1,249.5 886.3 1,522.4 329.1 — 3,987.3 
Corporate Debt2.2 308.7 359.0 — — 669.9 
Covered Bonds2,278.7 — — — — 2,278.7 
Certificates of Deposit555.0 — — — 33.2 588.2 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds4,322.0 1,292.9 29.8 1.1 — 5,645.8 
Other Asset-Backed288.0 — — — — 288.0 
Commercial Mortgage-Backed37.6 — — — — 37.6 
Other64.1 — — — 519.5 583.6 
Total$19,083.4 $4,128.8 $1,911.2 $330.2 $552.7 $26,006.3 
Percent of Total74 %16 %7 %1 %2 %100 %

DECEMBER 31, 2022
(In Millions)AAAAAABBBNOT RATEDTOTAL
U.S. Government$50.0 $— $— $— $— $50.0 
Obligations of States and Political Subdivisions926.8 1,638.5 — — — 2,565.3 
Government Sponsored Agency9,407.7 — — — — 9,407.7 
Non-U.S. Government762.2 926.5 1,223.0 322.3 — 3,234.0 
Corporate Debt2.1 305.7 405.5 — — 713.3 
Covered Bonds2,530.3 — — — — 2,530.3 
Certificates of Deposit— — — — 35.9 35.9 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds4,171.3 1,502.0 28.9 1.1 — 5,703.3 
Other Asset-Backed263.7 — — — — 263.7 
Other65.8 — — — 466.8 532.6 
Total$18,179.9 $4,372.7 $1,657.4 $323.4 $502.7 $25,036.1 
Percent of Total73 %17 %7 %1 %2 %100 %