Commitments and Contingent Liabilities (Tables)

3 Months Ended

Mar. 31, 2024

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 March 31, 2024 and December 31, 2023.

TABLE 69: SUMMARY OF OFF-BALANCE SHEET FINANCIAL INSTRUMENTS

	MARCH 31, 2024						DECEMBER 31, 2023
(In Millions)	ONE YEAR AND LESS		OVER ONE YEAR		TOTAL		ONE YEAR AND LESS		OVER ONE YEAR		TOTAL
Undrawn Commitments(1)	$	10,322.2	$	18,957.1	$	29,279.3	$	11,849.5	$	18,909.6	$	30,759.1
Standby Letters of Credit and Financial Guarantees(2)(3)	90,610.8		327.2		90,938.0		85,752.0		639.0		86,391.0
Commercial Letters of Credit	17.2		0.1		17.3		29.2		1.3		30.5
Securities Lent with Indemnification	138,278.1		—		138,278.1		140,539.1		—		140,539.1
Unsettled Reverse Repurchase Agreements	16,442.4		—		16,442.4		27,667.7		—		27,667.7
Total Off-Balance Sheet Financial Instruments	$	255,670.7	$	19,284.4	$	274,955.1	$	265,837.5	$	19,549.9	$	285,387.4

(1) These amounts exclude $259.1 million and $222.2 million of commitments participated to others at March 31, 2024 and December 31, 2023, respectively.

(2) These amounts include $41.0 million and $39.1 million of standby letters of credit secured by cash deposits or participated to others as of March 31, 2024 and December 31, 2023, respectively.

(3) These amounts include a $89.3 billion and $84.6 billion guarantee to the Fixed Income Clearing Corporation (FICC) under the sponsored member program, without taking into consideration the related collateral, as of March 31, 2024 and December 31, 2023, respectively. Northern Trust became a sponsored member during the third quarter of 2021.