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Securities (Tables)
 6 Months Ended
Jun. 30, 2026
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 June 30, 2026 and December 31, 2025.
TABLE 37: RECONCILIATION OF AMORTIZED COST TO FAIR VALUE OF DEBT SECURITIES
JUNE 30, 2026
(In Millions)AMORTIZED COSTGROSS UNREALIZED GAINSGROSS UNREALIZED LOSSESFAIR VALUE
Available for Sale Debt Securities
U.S. Governments$7,872.2 $13.1 $2.0 $7,883.3 
Government Sponsored Agency19,381.1 26.6 104.9 19,302.8 
Non-U.S. Government409.0 0.6 1.1 408.5 
Corporate Debt271.2 0.7 0.5 271.4 
Covered Bonds277.4 0.2 1.9 275.7 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds4,674.2 8.3 12.1 4,670.4 
CLOs3,451.7 2.3 0.3 3,453.7 
Other Asset-Backed1,349.8 1.5 5.6 1,345.7 
Commercial Mortgage-Backed511.7 0.4 0.5 511.6 
Total Available for Sale Debt Securities$38,198.3 $53.7 $128.9 $38,123.1 
Held to Maturity Debt Securities
Obligations of States and Political Subdivisions$2,384.8 $1.0 $38.3 $2,347.5 
Government Sponsored Agency8,112.8 1.9 804.9 7,309.8 
Non-U.S. Government4,561.2 1.4 22.0 4,540.6 
Corporate Debt280.3 — 4.2 276.1 
Covered Bonds2,114.9 0.1 40.3 2,074.7 
Certificate of Deposit751.8 0.1 0.1 751.8 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds4,595.4 0.6 56.4 4,539.6 
Other Asset-Backed47.1 — — 47.1 
Commercial Mortgage-Backed37.6 — 1.8 35.8 
Other606.2 — 175.7 430.5 
Total Held to Maturity Debt Securities$23,492.1 $5.1 $1,143.7 $22,353.5 
Total Debt Securities$61,690.4 $58.8 $1,272.6 $60,476.6 
DECEMBER 31, 2025
(In Millions)AMORTIZED COSTGROSS UNREALIZED GAINSGROSS UNREALIZED LOSSESFAIR VALUE
Available for Sale Debt Securities
U.S. Governments$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 
CLOs2,151.3 3.7 0.1 2,154.9 
Other Asset-Backed569.2 4.0 3.0 570.2 
Commercial Mortgage-Backed417.4 0.1 8.5 409.0 
Total Available for Sale Debt Securities$34,102.4 $92.8 $158.7 $34,036.5 
Held to Maturity Debt Securities
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 
Certificate 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 Debt Securities$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 Available for Sale and Held to Maturity
TABLE 38: REMAINING MATURITY OF DEBT SECURITIES
JUNE 30, 2026ONE 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. Governments$1,696.8 $1,698.3 $6,175.4 $6,185.0 $— $— $— $— $7,872.2 $7,883.3 
Non-U.S. Government241.8 241.1 167.2 167.4 — — — — 409.0 408.5 
Corporate Debt— — 271.2 271.4 — — — — 271.2 271.4 
Covered Bonds239.6 238.9 37.8 36.8 — — — — 277.4 275.7 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds1,162.3 1,159.5 3,511.9 3,510.9 — — — — 4,674.2 4,670.4 
Government Sponsored Agency19,381.1 19,302.8 
Commercial Mortgage-Backed511.7 511.6 
CLOs3,451.7 3,453.7 
Other Asset-Backed1,349.8 1,345.7 
Total Available for Sale Debt Securities$3,340.5 $3,337.8 $10,163.5 $10,171.5 $— $— $— $— $38,198.3 $38,123.1 
Held to Maturity Debt Securities
Obligations of States and Political Subdivisions$303.5 $302.8 $1,332.9 $1,318.0 $726.6 $705.8 $21.8 $20.9 $2,384.8 $2,347.5 
Non-U.S. Government3,413.5 3,406.3 1,147.7 1,134.3 — — — — 4,561.2 4,540.6 
Corporate Debt109.7 108.5 170.6 167.6 — — — — 280.3 276.1 
Covered Bonds682.5 677.6 1,432.4 1,397.1 — — — — 2,114.9 2,074.7 
Certificate of Deposit751.8 751.8 — — — — — — 751.8 751.8 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds1,508.7 1,493.4 2,997.3 2,956.6 89.4 89.6 — — 4,595.4 4,539.6 
Other76.3 75.0 299.5 270.4 42.8 32.7 187.6 52.4 606.2 430.5 
Government Sponsored Agency8,112.8 7,309.8 
Commercial Mortgage-Backed37.6 35.8 
Other Asset-Backed47.1 47.1 
Total Held to Maturity Debt Securities$6,846.0 $6,815.4 $7,380.4 $7,244.0 $858.8 $828.1 $209.4 $73.3 $23,492.1 $22,353.5 
Total Debt Securities $10,186.5 $10,153.2 $17,543.9 $17,415.5 $858.8 $828.1 $209.4 $73.3 $61,690.4 $60,476.6 
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
JUNE 30, 2026LESS THAN 12 MONTHS12 MONTHS OR LONGERTOTAL
(In Millions)FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES
U.S. Governments$730.2 $2.0 $— $— $730.2 $2.0 
Government Sponsored Agency7,936.0 41.6 5,781.6 63.3 13,717.6 104.9 
Non-U.S. Government240.2 0.5 68.2 0.6 308.4 1.1 
Corporate Debt39.1 0.5 — — 39.1 0.5 
Covered Bonds36.8 1.1 64.2 0.8 101.0 1.9 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds2,087.1 9.9 249.8 2.2 2,336.9 12.1 
CLOs371.3 0.3 — — 371.3 0.3 
Other Asset-Backed906.8 5.2 47.0 0.4 953.8 5.6 
Commercial Mortgage-Backed100.6 0.2 122.7 0.3 223.3 0.5 
Total$12,448.1 $61.3 $6,333.5 $67.6 $18,781.6 $128.9 
Note: There were no AFS securities with an allowance for credit losses reported as of June 30, 2026. Refer to the discussion below and Note 6, “Allowance for Credit Losses” for further information.
DECEMBER 31, 2025LESS THAN 12 MONTHS12 MONTHS OR LONGERTOTAL
(In Millions)FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES		FAIR
VALUE		UNREALIZED
LOSSES
U.S. Governments$— $— $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. Government329.7 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 
CLOs109.9 0.1 — — 109.9 0.1 
Other Asset-Backed— — 265.4 3.0 265.4 3.0 
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 $158.7 
Note: There were no AFS securities with an allowance for credit losses reported as of December 31, 2025. Refer to the discussion below and Note 6, “Allowance for Credit Losses” for further information.
Schedule of Debt Securities, Held-to-maturity, Credit Quality Indicator
The following table provides the amortized cost of HTM debt securities by credit ratings using ratings from Moody’s, S&P Global or Fitch Ratings. Securities not explicitly rated were grouped where possible under the credit rating of the issuer of the security.
TABLE 40: AMORTIZED COST OF HELD TO MATURITY DEBT SECURITIES BY CREDIT RATING
JUNE 30, 2026
($ In Millions)AAAAAABBBNOT RATEDTOTAL
Obligations of States and Political Subdivisions$993.0 $1,377.1 $14.7 $— $— $2,384.8 
Government Sponsored Agency41.6 8,071.2 — — — 8,112.8 
Non-U.S. Government1,275.7 1,457.5 1,813.1 14.9 — 4,561.2 
Corporate Debt154.6 16.0 109.7 — — 280.3 
Covered Bonds2,114.9 — — — — 2,114.9 
Certificate of Deposit— — — — 751.8 751.8 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds3,316.3 901.7 376.2 1.2 — 4,595.4 
Other Asset-Backed47.1 — — — — 47.1 
Commercial Mortgage-Backed— — 37.6 — — 37.6 
Other— — — — 606.2 606.2 
Total Held to Maturity$7,943.2 $11,823.5 $2,351.3 $16.1 $1,358.0 $23,492.1 
Percent of Total Held to Maturity34 %50 %10 %— %6 %100 %

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 
Certificate 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 Held to Maturity$7,015.3 $12,092.0 $3,245.5 $16.1 $1,060.7 $23,429.6 
Percent of Total Held to Maturity30 %52 %14 %— %4 %100 %
Schedule of Realized Gain (Loss)
TABLE 41: INVESTMENT SECURITY GAINS AND LOSSES
THREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,
(In Millions)2026202520262025
Gross Realized Debt Securities Gains$— $— $— $— 
Gross Realized Debt Securities Losses(73.9)— (73.9)— 
Investment Security Gains (Losses), net$(73.9)$— $(73.9)$— 
TABLE 42: INVESTMENT SECURITY GAINS AND LOSSES BY SECURITY TYPE
THREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,
(In Millions)2026202520262025
U.S. Governments$(4.5)$— $(4.5)$— 
Obligations of States and Political Subdivisions(7.9)— (7.9)— 
Government Sponsored Agency(26.0)— (26.0)— 
Non-U.S. Government(4.1)— (4.1)— 
Sub-Sovereign, Supranational and Non-U.S. Agency Bonds(21.3)— (21.3)— 
Other Asset-Backed(0.7)— (0.7)— 
Commercial Mortgage-Backed(9.4)— (9.4)— 
Total$(73.9)$— $(73.9)$—