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Securities (Tables)
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Reconciliation of Amortized Cost to Fair Value of Available for Sale Debt Securities
The following tables provide the amortized cost, fair values, and remaining maturities of available for sale debt securities and held to maturity debt securities by security type.
TABLE 51: RECONCILIATION OF AMORTIZED COST TO FAIR VALUE OF DEBT SECURITIES
DECEMBER 31, 2025
(In Millions)AMORTIZED
COST		GROSS
UNREALIZED
GAINS		GROSS
UNREALIZED
LOSSES		FAIR
VALUE
Available for Sale
U.S. Government$8,148.0 $29.5 $5.1 $8,172.4 
Obligations of States and Political Subdivisions322.4 — 9.3 313.1 
Government Sponsored Agency16,616.7 44.1 93.3 16,567.5 
Non-U.S. Government534.1 — 6.9 527.2 
Corporate Debt65.1 — 0.7 64.4 
Covered Bonds275.3 0.4 2.2 273.5 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds5,002.9 11.0 29.6 4,984.3 
Other Asset-Backed2,720.5 7.7 3.1 2,725.1 
Commercial Mortgage-Backed417.4 0.1 8.5 409.0 
Total Available for Sale$34,102.4 $92.8 $158.7 $34,036.5 
Held to Maturity
Obligations of States and Political Subdivisions$2,457.8 $4.6 $13.0 $2,449.4 
Government Sponsored Agency8,424.5 8.3 736.7 7,696.1 
Non-U.S. Government4,741.0 0.1 27.2 4,713.9 
Corporate Debt389.0 — 5.0 384.0 
Covered Bonds1,754.5 0.1 41.4 1,713.2 
Certificates of Deposit444.5 — 4.0 440.5 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds4,511.5 4.3 59.4 4,456.4 
Commercial Mortgage-Backed37.6 — 1.3 36.3 
Other669.2 — 177.8 491.4 
Total Held to Maturity$23,429.6 $17.4 $1,065.8 $22,381.2 
Total Debt Securities$57,532.0 $110.2 $1,224.5 $56,417.7 
DECEMBER 31, 2024
(In Millions)AMORTIZED
COST		GROSS
UNREALIZED
GAINS		GROSS
UNREALIZED
LOSSES		FAIR
VALUE
Available for Sale
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$29,229.1 $28.8 $256.4 $29,001.5 
Held to Maturity
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$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 
Reconciliation of Amortized Cost to Fair Values of Held to Maturity Debt Securities
The following tables provide the amortized cost, fair values, and remaining maturities of available for sale debt securities and held to maturity debt securities by security type.
TABLE 51: RECONCILIATION OF AMORTIZED COST TO FAIR VALUE OF DEBT SECURITIES
DECEMBER 31, 2025
(In Millions)AMORTIZED
COST		GROSS
UNREALIZED
GAINS		GROSS
UNREALIZED
LOSSES		FAIR
VALUE
Available for Sale
U.S. Government$8,148.0 $29.5 $5.1 $8,172.4 
Obligations of States and Political Subdivisions322.4 — 9.3 313.1 
Government Sponsored Agency16,616.7 44.1 93.3 16,567.5 
Non-U.S. Government534.1 — 6.9 527.2 
Corporate Debt65.1 — 0.7 64.4 
Covered Bonds275.3 0.4 2.2 273.5 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds5,002.9 11.0 29.6 4,984.3 
Other Asset-Backed2,720.5 7.7 3.1 2,725.1 
Commercial Mortgage-Backed417.4 0.1 8.5 409.0 
Total Available for Sale$34,102.4 $92.8 $158.7 $34,036.5 
Held to Maturity
Obligations of States and Political Subdivisions$2,457.8 $4.6 $13.0 $2,449.4 
Government Sponsored Agency8,424.5 8.3 736.7 7,696.1 
Non-U.S. Government4,741.0 0.1 27.2 4,713.9 
Corporate Debt389.0 — 5.0 384.0 
Covered Bonds1,754.5 0.1 41.4 1,713.2 
Certificates of Deposit444.5 — 4.0 440.5 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds4,511.5 4.3 59.4 4,456.4 
Commercial Mortgage-Backed37.6 — 1.3 36.3 
Other669.2 — 177.8 491.4 
Total Held to Maturity$23,429.6 $17.4 $1,065.8 $22,381.2 
Total Debt Securities$57,532.0 $110.2 $1,224.5 $56,417.7 
Schedule of Remaining Maturity of Securities
TABLE 52: REMAINING MATURITY OF DEBT SECURITIES
DECEMBER 31, 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
U.S. Government$1,498.9 $1,505.4 $6,649.1 $6,667.0 $— $— $— $— $8,148.0 $8,172.4 
Obligations of States and Political Subdivisions— — 250.2 242.9 72.2 70.2 — — 322.4 313.1 
Government Sponsored Agency4,407.2 4,401.2 9,015.5 9,004.0 2,145.2 2,129.5 1,048.8 1,032.8 16,616.7 16,567.5 
Non-U.S. Government399.0 396.6 135.1 130.6 — — — — 534.1 527.2 
Corporate Debt43.4 43.1 21.7 21.3 — — — — 65.1 64.4 
Covered Bonds173.5 173.9 101.8 99.6 — — — — 275.3 273.5 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds923.1 920.1 3,877.6 3,870.8 202.2 193.4 — — 5,002.9 4,984.3 
Other Asset-Backed290.8 288.0 900.9 906.0 1,127.2 1,129.1 401.6 402.0 2,720.5 2,725.1 
Commercial Mortgage-Backed150.2 149.9 229.1 226.0 38.1 33.1 — — 417.4 409.0 
Total Available for Sale $7,886.1 $7,878.2 $21,181.0 $21,168.2 $3,584.9 $3,555.3 $1,450.4 $1,434.8 $34,102.4 $34,036.5 
Held to Maturity
Obligations of States and Political Subdivisions$199.9 $199.8 $1,426.3 $1,428.6 $802.3 $792.4 $29.3 $28.6 $2,457.8 $2,449.4 
Government Sponsored Agency883.5 815.1 4,253.8 3,952.2 1,906.9 1,717.7 1,380.3 1,211.1 8,424.5 7,696.1 
Non-U.S. Government3,616.1 3,606.5 1,124.9 1,107.4 — — — — 4,741.0 4,713.9 
Corporate Debt207.5 204.9 181.5 179.1 — — — — 389.0 384.0 
Covered Bonds548.8 545.9 1,118.3 1,080.3 87.4 87.0 — — 1,754.5 1,713.2 
Certificates of Deposit444.5 440.5 — — — — — — 444.5 440.5 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds1,614.4 1,587.7 2,891.1 2,863.5 6.0 5.2 — — 4,511.5 4,456.4 
Commercial Mortgage-Backed— — 37.6 36.3 — — — — 37.6 36.3 
Other82.4 80.6 348.2 319.7 43.2 34.1 195.4 57.0 669.2 491.4 
Total Held to Maturity$7,597.1 $7,481.0 $11,381.7 $10,967.1 $2,845.8 $2,636.4 $1,605.0 $1,296.7 $23,429.6 $22,381.2 
Total Debt Securities$15,483.2 $15,359.2 $32,562.7 $32,135.3 $6,430.7 $6,191.7 $3,055.4 $2,731.5 $57,532.0 $56,417.7 
Note: Mortgage-backed and asset-backed securities are included in the above table taking into account anticipated future prepayments.
Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value
TABLE 53: AVAILABLE FOR SALE DEBT SECURITIES IN UNREALIZED LOSS POSITION WITH NO CREDIT LOSSES REPORTED
AS OF DECEMBER 31, 2025LESS THAN 12 MONTHS12 MONTHS OR LONGERTOTAL
(In Millions)FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES
U.S. Government$— $— $194.2 $5.1 $194.2 $5.1 
Obligations of States and Political Subdivisions— — 313.1 9.3 313.1 9.3 
Government Sponsored Agency1,288.2 1.7 6,848.5 91.6 8,136.7 93.3 
Non-U.S. Government 329.7 0.1 197.5 6.8 527.2 6.9 
Corporate Debt21.3 0.4 43.1 0.3 64.4 0.7 
Covered Bonds80.0 1.0 63.7 1.2 143.7 2.2 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds1,007.7 2.3 669.1 27.3 1,676.8 29.6 
Other Asset-Backed109.9 0.1 265.4 3.0 375.3 3.1 
Commercial Mortgage-Backed54.9 — 186.6 8.5 241.5 8.5 
Total$2,891.7 $5.6 $8,781.2 $153.1 $11,672.9 $158.7 
Note: There were no AFS securities with an allowance for credit losses reported as of December 31, 2025. Refer to the discussion further above and Note 6, “Allowance for Credit Losses” for further information.
AS OF 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 securities 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 $0.2 million allowance for credit losses reported as of December 31, 2024. Refer to the discussion further above and Note 6, “Allowance for Credit Losses” for further information.
Schedule of Debt Securities, Held-to-maturity, Credit Quality Indicator
The following table provides the amortized cost of HTM debt securities by credit rating using ratings from Moody’s, S&P Global or Fitch Ratings. Securities not explicitly rated were grouped where possible under the credit rating of the issuer of the security.
TABLE 54: AMORTIZED COST OF HELD TO MATURITY DEBT SECURITIES BY CREDIT RATING
AS OF DECEMBER 31, 2025
($ In Millions)AAAAAABBBNOT RATEDTOTAL
Obligations of States and Political Subdivisions$986.0 $1,471.8 $— $— $— $2,457.8 
Government Sponsored Agency— 8,424.5 — — — 8,424.5 
Non-U.S. Government649.7 1,231.7 2,844.7 14.9 — 4,741.0 
Corporate Debt159.2 150.2 79.6 — — 389.0 
Covered Bonds1,754.5 — — — — 1,754.5 
Certificates of Deposit— — — — 444.5 444.5 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds3,412.9 776.2 321.2 1.2 — 4,511.5 
Commercial Mortgage-Backed— 37.6 — — — 37.6 
Other53.0 — — — 616.2 669.2 
Total$7,015.3 $12,092.0 $3,245.5 $16.1 $1,060.7 $23,429.6 
Percent of Total30 %52 %14 %— %4 %100 %
AS OF DECEMBER 31, 2024
($ 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$15,780.9 $3,404.1 $2,208.7 $312.6 $590.4 $22,296.7 
Percent of Total71 %15 %10 %1 %3 %100 %
Schedule of Realized Gain (Loss)
TABLE 55: INVESTMENT SECURITY GAINS AND LOSSES
DECEMBER 31,
(In Millions)202520242023
Gross Realized Debt Securities Gains$— $185.2 $10.5 
Gross Realized Debt Securities Losses— (374.5)(180.0)
Investment Security Gains (Losses), net$— $(189.3)$(169.5)
TABLE 56: INVESTMENT SECURITY GAINS AND LOSSES BY SECURITY TYPE
DECEMBER 31,
(In Millions)202520242023
U.S. Governments$— $(34.8)$(29.9)
Obligations of States and Political Subdivisions— — 9.8 
Government Sponsored Agency— (23.0)(73.2)
Corporate Debt— — (7.6)
Covered Bonds— (4.2)— 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds— (48.2)(9.1)
Other Asset-Backed— (56.5)(58.6)
Commercial Mortgage-Backed— (22.6)(0.9)
Investment Security Gains (Losses), net$— $(189.3)$(169.5)