Commitments and Contingent Liabilities (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2024 and December 31, 2023.

TABLE 76: SUMMARY OF OFF-BALANCE SHEET FINANCIAL INSTRUMENTS

	JUNE 30, 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)	$	7,481.8	$	22,691.9	$	30,173.7	$	11,849.5	$	18,909.6	$	30,759.1
Standby Letters of Credit and Financial Guarantees(2)(3)	101,508.9		323.9		101,832.8		85,752.0		639.0		86,391.0
Commercial Letters of Credit	29.3		0.1		29.4		29.2		1.3		30.5
Securities Lent with Indemnification	135,526.6		—		135,526.6		140,539.1		—		140,539.1
Unsettled Reverse Repurchase Agreements	20,570.9		—		20,570.9		27,667.7		—		27,667.7
Total Off-Balance Sheet Financial Instruments	$	265,117.5	$	23,015.9	$	288,133.4	$	265,837.5	$	19,549.9	$	285,387.4

(1) These amounts exclude $288.4 million and $222.2 million of commitments participated to others at June 30, 2024 and December 31, 2023, respectively.

(2) These amounts include $99.1 million and $39.1 million of standby letters of credit secured by cash deposits or participated to others as of June 30, 2024 and December 31, 2023, respectively.

(3) These amounts include a $100.1 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 June 30, 2024 and December 31, 2023, respectively. Northern Trust became a sponsored member during the third quarter of 2021.