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SECURITIES BORROWED, LOANED AND SUBJECT TO REPURCHASE AGREEMENTS (Tables)
 9 Months Ended
Sep. 30, 2020
Federal Funds Purchased and Securities Sold under Agreements to Repurchase [Abstract]  
Securities borrowed or purchased under agreements to resell
Securities borrowed and purchased under agreements to resell, at their respective carrying values, consisted of the following:
In millions of dollarsSeptember 30,
2020		December 31, 2019
Securities purchased under agreements to resell$205,383 $169,874 
Deposits paid for securities borrowed83,979 81,448 
Total, net(1)
$289,362 $251,322 
Allowance for credit losses on securities purchased and borrowed(2)
(4)— 
Total, net of allowance$289,358 $251,322 
Securities loaned or sold under agreements to repurchase
Securities loaned and sold under agreements to repurchase, at their respective carrying values, consisted of the following:
In millions of dollarsSeptember 30,
2020		December 31, 2019
Securities sold under agreements to repurchase$194,534 $155,164 
Deposits received for securities loaned12,693 11,175 
Total, net(1)
$207,227 $166,339 

(1)    The above tables do not include securities-for-securities lending transactions of $5.1 billion and $6.3 billion at September 30, 2020 and December 31, 2019, respectively, where the Company acts as lender and receives securities that can be sold or pledged as collateral. In these transactions, the Company recognizes the securities received at fair value within Other assets and the obligation to return those securities as a liability within Brokerage payables.
(2)     See Note 14 to the Consolidated Financial Statements for further information.
Schedule of gross and net resale agreements and securities borrowing agreements and the related offsetting amount permitted as well as not permitted under ASC 210-20-45
The following tables present the gross and net resale and repurchase agreements and securities borrowing and lending
agreements and the related offsetting amounts permitted under ASC 210-20-45. The tables also include amounts related to financial instruments that are not permitted to be offset under ASC 210-20-45, but would be eligible for offsetting to the extent that an event of default has occurred and a legal opinion supporting enforceability of the offsetting rights has been obtained. Remaining exposures continue to be secured by financial collateral, but the Company may not have sought or been able to obtain a legal opinion evidencing enforceability of the offsetting right.
 As of September 30, 2020
In millions of dollarsGross amounts
of recognized
assets
Gross amounts
offset on the
Consolidated
Balance Sheet(1)
Net amounts of
assets included on
the Consolidated
Balance Sheet
Amounts
not offset on the
Consolidated Balance
Sheet but eligible for
offsetting upon
counterparty default(2)
Net
amounts(3)
Securities purchased under agreements to resell$320,598 $115,215 $205,383 $166,638 $38,745 
Deposits paid for securities borrowed89,622 5,643 83,979 19,958 64,021 
Total$410,220 $120,858 $289,362 $186,596 $102,766 
In millions of dollarsGross amounts
of recognized
liabilities
Gross amounts
offset on the
Consolidated
Balance Sheet(1)
Net amounts of
liabilities included on
the Consolidated
Balance Sheet
Amounts
not offset on the
Consolidated Balance
Sheet but eligible for
offsetting upon
counterparty default(2)
Net
amounts(3)
Securities sold under agreements to repurchase$309,749 $115,215 $194,534 $99,500 $95,034 
Deposits received for securities loaned18,336 5,643 12,693 3,978 8,715 
Total$328,085 $120,858 $207,227 $103,478 $103,749 
 As of December 31, 2019
In millions of dollarsGross amounts
of recognized
assets
Gross amounts
offset on the
Consolidated
Balance Sheet(1)
Net amounts of
assets included on
the Consolidated
Balance Sheet
Amounts
not offset on the
Consolidated Balance
Sheet but eligible for
offsetting upon
counterparty default(2)
Net
amounts(3)
Securities purchased under agreements to resell$281,274 $111,400 $169,874 $134,150 $35,724 
Deposits paid for securities borrowed90,047 8,599 81,448 27,067 54,381 
Total$371,321 $119,999 $251,322 $161,217 $90,105 
In millions of dollarsGross amounts
of recognized
liabilities
Gross amounts
offset on the
Consolidated
Balance Sheet(1)
Net amounts of
liabilities included on
the Consolidated
Balance Sheet
Amounts
not offset on the
Consolidated Balance
Sheet but eligible for
offsetting upon
counterparty default(2)
Net
amounts(3)
Securities sold under agreements to repurchase$266,564 $111,400 $155,164 $91,034 $64,130 
Deposits received for securities loaned19,774 8,599 11,175 3,138 8,037 
Total$286,338 $119,999 $166,339 $94,172 $72,167 
(1)Includes financial instruments subject to enforceable master netting agreements that are permitted to be offset under ASC 210-20-45.
(2)Includes financial instruments subject to enforceable master netting agreements that are not permitted to be offset under ASC 210-20-45, but would be eligible for offsetting to the extent that an event of default has occurred and a legal opinion supporting enforceability of the offsetting right has been obtained.
(3)Remaining exposures continue to be secured by financial collateral, but the Company may not have sought or been able to obtain a legal opinion evidencing enforceability of the offsetting right.
Schedule of gross and net repurchase agreements and securities lending agreements and the related offsetting amount permitted as well as not permitted under ASC 210-20-45
The following tables present the gross and net resale and repurchase agreements and securities borrowing and lending
agreements and the related offsetting amounts permitted under ASC 210-20-45. The tables also include amounts related to financial instruments that are not permitted to be offset under ASC 210-20-45, but would be eligible for offsetting to the extent that an event of default has occurred and a legal opinion supporting enforceability of the offsetting rights has been obtained. Remaining exposures continue to be secured by financial collateral, but the Company may not have sought or been able to obtain a legal opinion evidencing enforceability of the offsetting right.
 As of September 30, 2020
In millions of dollarsGross amounts
of recognized
assets
Gross amounts
offset on the
Consolidated
Balance Sheet(1)
Net amounts of
assets included on
the Consolidated
Balance Sheet
Amounts
not offset on the
Consolidated Balance
Sheet but eligible for
offsetting upon
counterparty default(2)
Net
amounts(3)
Securities purchased under agreements to resell$320,598 $115,215 $205,383 $166,638 $38,745 
Deposits paid for securities borrowed89,622 5,643 83,979 19,958 64,021 
Total$410,220 $120,858 $289,362 $186,596 $102,766 
In millions of dollarsGross amounts
of recognized
liabilities
Gross amounts
offset on the
Consolidated
Balance Sheet(1)
Net amounts of
liabilities included on
the Consolidated
Balance Sheet
Amounts
not offset on the
Consolidated Balance
Sheet but eligible for
offsetting upon
counterparty default(2)
Net
amounts(3)
Securities sold under agreements to repurchase$309,749 $115,215 $194,534 $99,500 $95,034 
Deposits received for securities loaned18,336 5,643 12,693 3,978 8,715 
Total$328,085 $120,858 $207,227 $103,478 $103,749 
 As of December 31, 2019
In millions of dollarsGross amounts
of recognized
assets
Gross amounts
offset on the
Consolidated
Balance Sheet(1)
Net amounts of
assets included on
the Consolidated
Balance Sheet
Amounts
not offset on the
Consolidated Balance
Sheet but eligible for
offsetting upon
counterparty default(2)
Net
amounts(3)
Securities purchased under agreements to resell$281,274 $111,400 $169,874 $134,150 $35,724 
Deposits paid for securities borrowed90,047 8,599 81,448 27,067 54,381 
Total$371,321 $119,999 $251,322 $161,217 $90,105 
In millions of dollarsGross amounts
of recognized
liabilities
Gross amounts
offset on the
Consolidated
Balance Sheet(1)
Net amounts of
liabilities included on
the Consolidated
Balance Sheet
Amounts
not offset on the
Consolidated Balance
Sheet but eligible for
offsetting upon
counterparty default(2)
Net
amounts(3)
Securities sold under agreements to repurchase$266,564 $111,400 $155,164 $91,034 $64,130 
Deposits received for securities loaned19,774 8,599 11,175 3,138 8,037 
Total$286,338 $119,999 $166,339 $94,172 $72,167 
(1)Includes financial instruments subject to enforceable master netting agreements that are permitted to be offset under ASC 210-20-45.
(2)Includes financial instruments subject to enforceable master netting agreements that are not permitted to be offset under ASC 210-20-45, but would be eligible for offsetting to the extent that an event of default has occurred and a legal opinion supporting enforceability of the offsetting right has been obtained.
(3)Remaining exposures continue to be secured by financial collateral, but the Company may not have sought or been able to obtain a legal opinion evidencing enforceability of the offsetting right.
Gross amount of liabilities associated with repurchase agreements and securities lending agreements
The following tables present the gross amounts of liabilities associated with repurchase agreements and securities lending agreements by remaining contractual maturity:
As of September 30, 2020
In millions of dollarsOpen and overnightUp to 30 days31–90 daysGreater than 90 daysTotal
Securities sold under agreements to repurchase$152,290 $76,162 $39,462 $41,835 $309,749 
Deposits received for securities loaned11,412 651 2,421 3,852 18,336 
Total$163,702 $76,813 $41,883 $45,687 $328,085 

As of December 31, 2019
In millions of dollarsOpen and overnightUp to 30 days31–90 daysGreater than 90 daysTotal
Securities sold under agreements to repurchase$108,534 $82,749 $35,108 $40,173 $266,564 
Deposits received for securities loaned15,758 208 1,789 2,019 19,774 
Total$124,292 $82,957 $36,897 $42,192 $286,338 
The following tables present the gross amounts of liabilities associated with repurchase agreements and securities lending agreements by class of underlying collateral:
As of September 30, 2020
In millions of dollarsRepurchase agreementsSecurities lending agreementsTotal
U.S. Treasury and federal agency securities$109,674 $2 $109,676 
State and municipal securities896 1 897 
Foreign government securities115,031 309 115,340 
Corporate bonds19,891 370 20,261 
Equity securities15,124 15,249 30,373 
Mortgage-backed securities39,652 — 39,652 
Asset-backed securities3,792 — 3,792 
Other5,689 2,405 8,094 
Total$309,749 $18,336 $328,085 

As of December 31, 2019
In millions of dollarsRepurchase agreementsSecurities lending agreementsTotal
U.S. Treasury and federal agency securities$100,781 $27 $100,808 
State and municipal securities1,938 5 1,943 
Foreign government securities95,880 272 96,152 
Corporate bonds18,761 249 19,010 
Equity securities12,010 19,069 31,079 
Mortgage-backed securities28,458 — 28,458 
Asset-backed securities4,873 — 4,873 
Other3,863 152 4,015 
Total$266,564 $19,774 $286,338