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SECURITIES BORROWED, LOANED AND SUBJECT TO REPURCHASE AGREEMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
Federal Funds Purchased and Securities Sold under Agreements to Repurchase [Abstract]  
Federal funds sold and 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:

December 31,
In millions of dollars20242023
Securities purchased under agreements to resell$192,950 $267,319 
Securities borrowed81,115 78,408 
Total, net(1)
$274,065 $345,727 
Allowance for credit losses on securities purchased and borrowed(2)
(3)(27)
Total, net of allowance$274,062 $345,700 
Federal funds purchased and 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:

December 31,
In millions of dollars20242023
Securities sold under agreements to repurchase$239,767 $264,958 
Securities loaned14,988 13,149 
Total, net(1)
$254,755 $278,107 

(1)     The above tables do not include securities-for-securities lending transactions of $5.2 billion and $4.3 billion at December 31, 2024 and 2023, 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 16.
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 December 31, 2024
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$516,722 $323,772 $192,950 $186,121 $6,829 
Securities borrowed100,442 19,327 81,115 22,228 58,887 
Total$617,164 $343,099 $274,065 $208,349 $65,716 
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$563,539 $323,772 $239,767 $193,714 $46,053 
Securities loaned34,315 19,327 14,988 12,317 2,671 
Total$597,854 $343,099 $254,755 $206,031 $48,724 

 As of December 31, 2023
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$515,533 $248,214 $267,319 $244,783 $22,536 
Securities borrowed97,881 19,473 78,408 25,433 52,975 
Total$613,414 $267,687 $345,727 $270,216 $75,511 
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$513,172 $248,214 $264,958 $181,794 $83,164 
Securities loaned32,622 19,473 13,149 2,441 10,708 
Total$545,794 $267,687 $278,107 $184,235 $93,872 

(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 December 31, 2024
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$516,722 $323,772 $192,950 $186,121 $6,829 
Securities borrowed100,442 19,327 81,115 22,228 58,887 
Total$617,164 $343,099 $274,065 $208,349 $65,716 
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$563,539 $323,772 $239,767 $193,714 $46,053 
Securities loaned34,315 19,327 14,988 12,317 2,671 
Total$597,854 $343,099 $254,755 $206,031 $48,724 

 As of December 31, 2023
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$515,533 $248,214 $267,319 $244,783 $22,536 
Securities borrowed97,881 19,473 78,408 25,433 52,975 
Total$613,414 $267,687 $345,727 $270,216 $75,511 
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$513,172 $248,214 $264,958 $181,794 $83,164 
Securities loaned32,622 19,473 13,149 2,441 10,708 
Total$545,794 $267,687 $278,107 $184,235 $93,872 

(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 December 31, 2024
In millions of dollarsOpen and overnightUp to 30 days31–90 daysGreater than 90 daysTotal
Securities sold under agreements to repurchase$299,527 $154,036 $46,635 $63,341 $563,539 
Securities loaned25,898 213 1,007 7,197 34,315 
Total$325,425 $154,249 $47,642 $70,538 $597,854 

As of December 31, 2023
In millions of dollarsOpen and overnightUp to 30 days31–90 daysGreater than 90 daysTotal
Securities sold under agreements to repurchase$289,907 $134,870 $35,639 $52,756 $513,172 
Securities loaned24,997 — 1,270 6,355 32,622 
Total$314,904 $134,870 $36,909 $59,111 $545,794 

The following tables present the gross amounts of liabilities associated with repurchase agreements and securities lending agreements by class of underlying collateral:

As of December 31, 2024
In millions of dollarsRepurchase agreementsSecurities lending agreementsTotal
U.S. Treasury and federal agency securities$324,233 $40 $324,273 
State and municipal securities183 — 183 
Foreign government securities132,123 1,069 133,192 
Corporate bonds17,467 330 17,797 
Equity securities18,498 32,837 51,335 
Mortgage-backed securities65,279 — 65,279 
Asset-backed securities2,609 23 2,632 
Other3,147 16 3,163 
Total$563,539 $34,315 $597,854 

As of December 31, 2023
In millions of dollarsRepurchase agreementsSecurities lending agreementsTotal
U.S. Treasury and federal agency securities$223,343 $461 $223,804 
State and municipal securities447 2 449 
Foreign government securities174,661 118 174,779 
Corporate bonds12,403 195 12,598 
Equity securities5,853 31,574 37,427 
Mortgage-backed securities85,014 21 85,035 
Asset-backed securities3,032 178 3,210 
Other8,419 73 8,492 
Total$513,172 $32,622 $545,794