XML 58 R35.htm IDEA: XBRL DOCUMENT v3.25.0.1
Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase
Securities purchased under agreements to resell and securities sold under agreements to repurchase are accounted for as collateralized financings and recorded at the amounts at which the securities were acquired or sold plus accrued interest. To minimize any potential credit risk associated with these transactions, the fair value of the securities purchased or sold is monitored, limits are set on exposure with counterparties, and the financial condition of counterparties is regularly assessed. It is Northern Trust’s policy to take possession, either directly or via third-party custodians, of securities purchased under agreements to resell. 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 there is a legally enforceable master netting arrangement and the other conditions to net are met.
The following tables summarize information related to Securities Purchased under Agreements to Resell and Securities Sold under Agreements to Repurchase.
TABLE 111: SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL
($ In Millions)20242023
Balance at December 31$426.0 $784.7 
Average Balance During the Year727.5 950.9 
Average Interest Rate Earned During the Year459.13 %166.71 %
Maximum Month-End Balance During the Year$1,034.6 $1,326.2 
Note: The table above includes the impact of balance sheet netting of approximately $62.4 billion and $29.1 billion in 2024 and 2023, respectively. Excluding the impact of netting, the average interest rate on Securities Purchased under Agreements to Resell would be approximately 5.29% and 5.27% in 2024 and 2023, respectively. Northern Trust nets securities sold under repurchase agreements against those purchased under resale agreements when there is a legally enforceable master netting arrangement.
TABLE 112: SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE
($ In Millions)20242023
Balance at December 31$462.0 $784.7 
Average Balance During the Year518.5 401.5 
Average Interest Rate Paid During the Year632.65 %383.84 %
Maximum Month-End Balance During the Year$811.8 $988.1 
Note: The table above includes the impact of balance sheet netting of approximately $62.4 billion and $29.1 billion in 2024 and 2023, respectively. Excluding the impact of netting, the average interest rate on Securities Sold under Agreements to Repurchase would be approximately 5.21% and 5.22% in 2024 and 2023, respectively. Northern Trust nets securities sold under repurchase agreements against those purchased under resale agreements when there is a legally enforceable master netting arrangement.
TABLE 113: REPURCHASE AGREEMENTS ACCOUNTED FOR AS SECURED BORROWINGS
REMAINING CONTRACTUAL MATURITY OF THE AGREEMENTS
OVERNIGHT AND CONTINUOUS
(In Millions)December 31, 2024December 31, 2023
U.S. Treasury and Agency Securities$65,374.8 $62,860.2 
Total Borrowings65,374.8 62,860.2