Pledged Assets, Accepted Collateral and Restricted Assets (Tables)

12 Months Ended

Dec. 31, 2023

Financial Instruments Owned and Pledged as Collateral [Abstract]

Type of Pledged Assets

The following table presents the carrying value of Northern Trust’s pledged assets by type.

TABLE 126: TYPE OF PLEDGED ASSETS

	FOR THE YEAR ENDED DECEMBER 31,
(In Billions)	2023		2022
Debt Securities(1)	$	33.0	$	31.4
Loans(2)	10.3		11.8
Total Pledged Assets	$	43.3	$	43.2

(1) Debt securities are comprised of held to maturity and available for sale securities.

(2) Loans pledged at the FHLB of Chicago and the Federal Reserve Bank of Chicago.

Accepted Collateral

The following table presents the fair value of securities accepted as collateral.

TABLE 127: ACCEPTED COLLATERAL

	FOR THE YEAR ENDED DECEMBER 31,
(In Millions)	2023		2022
Collateral that may be repledged or sold
Reverse repurchase agreements(1)	$	62,767.8	$	12,119.4
Derivative contracts	12.2		5.0
Collateral that may not be repledged or sold
Reverse repurchase agreements	—		450.0
Total Collateral Accepted	$	62,780.0	$	12,574.4

(1) The fair value of securities collateral that was repledged or sold totaled $62.0 billion and $11.5 billion at December 31, 2023 and 2022, respectively. This primarily includes collateral accepted as related to the sponsored member program. Refer to Note 24, “Commitments and Contingent Liabilities” and Note 27, “Offsetting of Assets and Liabilities” for further information.