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Securities (Tables)
 9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Reconciliation of Amortized Cost to Fair Value of Securities Available for Sale
The following tables provide the amortized cost, fair values, and remaining maturities of AFS debt securities and HTM debt securities by security type as of September 30, 2025 and December 31, 2024.
TABLE 37: RECONCILIATION OF AMORTIZED COST TO FAIR VALUE OF DEBT SECURITIES
SEPTEMBER 30, 2025
(In Millions)AMORTIZED COSTGROSS UNREALIZED GAINSGROSS UNREALIZED LOSSESFAIR VALUE
Available for Sale Debt Securities
U.S. Government$8,147.9 $15.6 $8.5 $8,155.0 
Obligations of States and Political Subdivisions322.0 — 11.3 310.7 
Government Sponsored Agency16,505.3 35.6 99.4 16,441.5 
Non-U.S. Government321.9 0.7 7.3 315.3 
Corporate Debt107.7 — 0.8 106.9 
Covered Bonds274.0 0.6 1.8 272.8 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds4,989.6 23.5 26.4 4,986.7 
Other Asset-Backed1,807.0 7.7 4.5 1,810.2 
Commercial Mortgage-Backed498.9 — 8.8 490.1 
Total Available for Sale Debt Securities$32,974.3 $83.7 $168.8 $32,889.2 
Held to Maturity Debt Securities
Obligations of States and Political Subdivisions$2,476.0 $2.6 $16.9 $2,461.7 
Government Sponsored Agency8,512.4 7.4 795.9 7,723.9 
Non-U.S. Government3,405.6 0.3 35.1 3,370.8 
Corporate Debt407.2 — 6.0 401.2 
Covered Bonds1,543.4 0.2 46.2 1,497.4 
Certificates of Deposit912.0 0.1 0.2 911.9 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds5,047.4 3.3 82.2 4,968.5 
Commercial Mortgage-Backed37.6 — 1.0 36.6 
Other633.3 — 167.0 466.3 
Total Held to Maturity Debt Securities$22,974.9 $13.9 $1,150.5 $21,838.3 
Total Debt Securities$55,949.2 $97.6 $1,319.3 $54,727.5 
DECEMBER 31, 2024
(In Millions)AMORTIZED COSTGROSS UNREALIZED GAINSGROSS UNREALIZED LOSSESFAIR VALUE
Available for Sale Debt Securities
U.S. Government$7,388.9 $1.5 $22.9 $7,367.5 
Obligations of States and Political Subdivisions311.2 — 13.6 297.6 
Government Sponsored Agency13,410.5 10.9 132.5 13,288.9 
Non-U.S. Government308.9 0.2 12.3 296.8 
Corporate Debt166.6 0.1 2.9 163.8 
Covered Bonds234.0 0.5 3.6 230.9 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds4,617.0 8.3 42.2 4,583.1 
Other Asset-Backed2,188.6 7.0 12.9 2,182.7 
Commercial Mortgage-Backed603.4 0.3 13.5 590.2 
Total Available for Sale Debt Securities$29,229.1 $28.8 $256.4 $29,001.5 
Held to Maturity Debt Securities
Obligations of States and Political Subdivisions$2,548.2 $— $89.3 $2,458.9 
Government Sponsored Agency8,635.0 0.9 1,081.3 7,554.6 
Non-U.S. Government3,735.8 0.2 56.3 3,679.7 
Corporate Debt351.6 — 11.0 340.6 
Covered Bonds1,776.8 0.1 62.2 1,714.7 
Certificates of Deposit336.0 — 0.3 335.7 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds4,146.9 1.4 171.3 3,977.0 
Other Asset-Backed107.1 0.3 0.1 107.3 
Commercial Mortgage-Backed37.6 — 0.8 36.8 
Other621.7 — 172.5 449.2 
Total Held to Maturity Debt Securities$22,296.7 $2.9 $1,645.1 $20,654.5 
Total Debt Securities$51,525.8 $31.7 $1,901.5 $49,656.0 
Schedule of Remaining Maturity of Securities Available for Sale and Held to Maturity
TABLE 38: REMAINING MATURITY OF DEBT SECURITIES
SEPTEMBER 30, 2025ONE YEAR OR LESSONE TO FIVE YEARSFIVE TO TEN YEARSOVER TEN YEARSTOTAL
(In Millions)AMORTIZED COSTFAIR VALUEAMORTIZED COSTFAIR VALUEAMORTIZED COSTFAIR VALUEAMORTIZED COSTFAIR VALUEAMORTIZED COSTFAIR VALUE
Available for Sale Debt Securities
U.S. Government$298.8 $298.9 $7,589.1 $7,596.2 $260.0 $259.9 $— $— $8,147.9 $8,155.0 
Obligations of States and Political Subdivisions— — 249.7 241.2 72.3 69.5 — — 322.0 310.7 
Government Sponsored Agency4,292.4 4,282.4 9,139.9 9,120.7 2,156.8 2,138.6 916.2 899.8 16,505.3 16,441.5 
Non-U.S. Government188.4 185.3 133.5 130.0 — — — — 321.9 315.3 
Corporate Debt86.3 85.6 21.4 21.3 — — — — 107.7 106.9 
Covered Bonds61.7 61.7 212.3 211.1 — — — — 274.0 272.8 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds858.3 854.0 3,829.4 3,839.2 301.9 293.5 — — 4,989.6 4,986.7 
Other Asset-Backed240.6 236.9 986.6 991.8 458.0 459.5 121.8 122.0 1,807.0 1,810.2 
Commercial Mortgage-Backed111.3 111.0 354.0 350.7 33.6 28.4 — — 498.9 490.1 
Total Available for Sale Debt Securities$6,137.8 $6,115.8 $22,515.9 $22,502.2 $3,282.6 $3,249.4 $1,038.0 $1,021.8 $32,974.3 $32,889.2 
Held to Maturity Debt Securities
Obligations of States and Political Subdivisions$177.5 $177.3 $1,428.5 $1,427.2 $810.4 $799.1 $59.6 $58.1 $2,476.0 $2,461.7 
Government Sponsored Agency881.4 807.8 4,155.7 3,841.5 2,052.0 1,835.0 1,423.3 1,239.6 8,512.4 7,723.9 
Non-U.S. Government1,943.9 1,939.4 1,461.7 1,431.4 — — — — 3,405.6 3,370.8 
Corporate Debt144.0 143.2 263.2 258.0 — — — — 407.2 401.2 
Covered Bonds444.5 443.0 1,011.4 967.2 87.5 87.2 — — 1,543.4 1,497.4 
Certificates of Deposit912.0 911.9 — — — — — — 912.0 911.9 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds2,093.0 2,073.5 2,948.4 2,889.9 6.0 5.1 — — 5,047.4 4,968.5 
Commercial Mortgage-Backed— — 37.6 36.6 — — — — 37.6 36.6 
Other60.4 58.9 341.2 313.4 44.5 34.9 187.2 59.1 633.3 466.3 
Total Held to Maturity Debt Securities$6,656.7 $6,555.0 $11,647.7 $11,165.2 $3,000.4 $2,761.3 $1,670.1 $1,356.8 $22,974.9 $21,838.3 
Total Debt Securities $12,794.5 $12,670.8 $34,163.6 $33,667.4 $6,283.0 $6,010.7 $2,708.1 $2,378.6 $55,949.2 $54,727.5 
Note: Mortgage-backed and asset-backed securities are included in the above table taking into account anticipated future prepayments.
Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value
TABLE 39: AVAILABLE FOR SALE DEBT SECURITIES IN UNREALIZED LOSS POSITION WITH NO CREDIT LOSSES REPORTED
SEPTEMBER 30, 2025LESS THAN 12 MONTHS12 MONTHS OR LONGERTOTAL
(In Millions)FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES
U.S. Government$2,261.8 $1.6 $896.7 $6.9 $3,158.5 $8.5 
Obligations of States and Political Subdivisions— — 310.7 11.3 310.7 11.3 
Government Sponsored Agency2,012.4 6.7 6,540.1 92.7 8,552.5 99.4 
Non-U.S. Government — — 195.3 7.3 195.3 7.3 
Corporate Debt21.3 0.1 85.6 0.7 106.9 0.8 
Covered Bonds36.1 0.2 63.3 1.6 99.4 1.8 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds117.7 — 878.7 26.4 996.4 26.4 
Other Asset-Backed105.0 — 273.0 4.5 378.0 4.5 
Commercial Mortgage-Backed113.1 — 259.5 8.8 372.6 8.8 
Total$4,667.4 $8.6 $9,502.9 $160.2 $14,170.3 $168.8 
Note: There were no AFS securities with an allowance for credit losses reported as of September 30, 2025. Refer to the discussion further below and Note 6, “Allowance for Credit Losses” for further information.
DECEMBER 31, 2024LESS THAN 12 MONTHS12 MONTHS OR LONGERTOTAL
(In Millions)FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES
U.S. Government$4,477.5 $11.1 $532.3 $11.8 $5,009.8 $22.9 
Obligations of States and Political Subdivisions— — 297.5 13.6 297.5 13.6 
Government Sponsored Agency3,298.8 14.5 6,373.8 118.0 9,672.6 132.5 
Non-U.S. Government54.9 0.1 181.6 12.2 236.5 12.3 
Corporate Debt— — 76.9 1.6 76.9 1.6 
Covered Bonds— — 119.6 3.6 119.6 3.6 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds881.9 2.6 720.5 39.6 1,602.4 42.2 
Other Asset-Backed35.4 — 405.4 12.9 440.8 12.9 
Commercial Mortgage-Backed— — 376.1 13.5 376.1 13.5 
Total$8,748.5 $28.3 $9,083.7 $226.8 $17,832.2 $255.1 
Note: One corporate debt AFS security with a fair value of $38.9 million and unrealized losses of $1.3 million has been excluded from the table above as it has a $0.2 million allowance for credit losses reported as of December 31, 2024. Refer to the discussion further below and Note 6, “Allowance for Credit Losses” for further information.
Schedule of Debt Securities, Held-to-maturity, Credit Quality Indicator
The following table provides the amortized cost of HTM debt securities by credit ratings using ratings from Moody’s, S&P Global or Fitch Ratings. Securities not explicitly rated were grouped where possible under the credit rating of the issuer of the security.
TABLE 40: AMORTIZED COST OF HELD TO MATURITY DEBT SECURITIES BY CREDIT RATING
SEPTEMBER 30, 2025
($ In Millions)AAAAAABBBNOT RATEDTOTAL
Obligations of States and Political Subdivisions$1,002.6 $1,473.4 $— $— $— $2,476.0 
Government Sponsored Agency— 8,512.4 — — — 8,512.4 
Non-U.S. Government596.1 1,196.5 1,268.7 344.3 — 3,405.6 
Corporate Debt159.4 150.5 97.3 — — 407.2 
Covered Bonds1,290.2 253.2 — — — 1,543.4 
Certificates of Deposit— 861.3 — — 50.7 912.0 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds3,819.0 1,176.7 50.5 1.2 — 5,047.4 
Commercial Mortgage-Backed— 37.6 — — — 37.6 
Other53.3 — — — 580.0 633.3 
Total Held to Maturity$6,920.6 $13,661.6 $1,416.5 $345.5 $630.7 $22,974.9 
Percent of Total Held to Maturity30 %59 %6 %2 %3 %100 %

DECEMBER 31, 2024
($ In Millions)AAAAAABBBNOT RATEDTOTAL
Obligations of States and Political Subdivisions$1,024.3 $1,523.9 $— $— $— $2,548.2 
Government Sponsored Agency8,635.0 — — — — $8,635.0 
Non-U.S. Government700.0 704.2 2,020.1 311.5 — $3,735.8 
Corporate Debt— 191.5 160.1 — — $351.6 
Covered Bonds1,776.8 — — — — $1,776.8 
Certificates of Deposit316.6 — — — 19.4 $336.0 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds3,132.8 984.5 28.5 1.1 — $4,146.9 
Other Asset-Backed107.1 — — — — $107.1 
Commercial Mortgage-Backed37.6 — — — — $37.6 
Other50.7 — — — 571.0 $621.7 
Total Held to Maturity$15,780.9 $3,404.1 $2,208.7 $312.6 $590.4 $22,296.7 
Percent of Total Held to Maturity71 %15 %10 %1 %3 %100 %
Schedule of Investment Security Gains and Losses
TABLE 41: INVESTMENT SECURITY GAINS AND LOSSES
THREE MONTHS ENDED SEPTEMBER 30,NINE MONTHS ENDED SEPTEMBER 30,
(In Millions)2025202420252024
Gross Realized Debt Securities Gains$— $— $— $185.2 
Gross Realized Debt Securities Losses— — — (374.5)
Investment Security Gains (Losses), net$— $— $— $(189.3)
TABLE 42: INVESTMENT SECURITY GAINS AND LOSSES BY SECURITY TYPE
THREE MONTHS ENDED SEPTEMBER 30,NINE MONTHS ENDED SEPTEMBER 30,
(In Millions)2025202420252024
U.S. Government$— $— $— $(34.8)
Obligations of States and Political Subdivisions— — — — 
Government Sponsored Agency— — — (23.0)
Corporate Debt— — — — 
Covered Bonds— — — (4.2)
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds— — — (48.2)
Other Asset-Backed— — — (56.5)
Commercial Mortgage-Backed— — — (22.6)
Investment Security Gains (Losses), net$— $— $— $(189.3)