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CONSOLIDATED BALANCE SHEET (UNAUDITED) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Assets:    
Cash and due from banks [1] $ 944 $ 954
Interest bearing deposits with banks [1] 13,970 47,400
Federal funds sold and securities purchased under agreements to resell [1] 29,825 10,514
Trading assets (includes $1.2 billion and $1.7 billion pledged to creditors at September 30, 2022 and December 31, 2021, respectively) [1] 21,082 24,043
Securities available-for-sale (includes amortized cost of $31.1 billion and $35.4 billion at September 30, 2022 and December 31, 2021, respectively, an allowance for credit losses of nil and $1 million at September 30, 2022 and December 31, 2021, respectively, and $0.3 billion and $2.4 billion pledged to creditors at September 30, 2022 and December 31, 2021, respectively) [1] 28,082 35,298
Securities held-to-maturity, net of allowance for credit losses of nil and $1 million at September 30, 2022 and December 31, 2021, respectively (fair value of $6.2 billion and $5.4 billion at September 30, 2022 and December 31, 2021, respectively) [1] 6,656 5,203
Loans [1] 61,775 55,864
Less – allowance for credit losses [1] 551 447
Loans, net [1] 61,224 55,417
Loans held for sale (includes $166 million and $48 million designated under fair value option at September 30, 2022 and December 31, 2021, respectively, and $2,441 million related to branch disposal group held for sale at December 31, 2021) [1] 576 4,217
Properties and equipment, net [1] 49 40
Goodwill [1] 458 458
Other branch related assets held for sale [1] 0 249
Other assets, net of allowance for credit losses of $1 million at both September 30, 2022 and December 31, 2021 [1] 6,474 5,439
Total assets [1] 169,340 189,232
Domestic deposits:    
Noninterest bearing [1] 32,793 40,333
Interest bearing (includes $1.8 billion and $2.7 billion designated under fair value option at September 30, 2022 and December 31, 2021, respectively) [1] 84,977 89,122
Foreign deposits - interest bearing [1] 7,196 4,827
Deposits held for sale [1] 0 8,750
Total deposits [1] 124,966 143,032
Short-term borrowings [1] 6,536 6,338
Long-term debt (includes $7.0 billion and $8.9 billion designated under fair value option at September 30, 2022 and December 31, 2021, respectively) [1] 15,696 17,236
Total debt [1] 147,198 166,606
Trading liabilities [1] 4,840 3,023
Other branch related liabilities held for sale [1] 0 152
Interest, taxes and other liabilities [1] 3,269 2,411
Total liabilities [1] 155,307 172,192
Equity    
Preferred stock (no par value; 40,999,000 shares authorized; 1,265 shares issued and outstanding at both September 30, 2022 and December 31, 2021) 1,265 1,265
Common equity:    
Common stock ($5 par value; 150,000,000 shares authorized; 714 shares issued and outstanding at both September 30, 2022 and December 31, 2021) 0 0
Additional paid-in capital 13,739 14,742
Retained earnings 1,626 1,212
Accumulated other comprehensive loss (2,597) (179)
Total common equity 12,768 15,775
Total equity 14,033 17,040
Total liabilities and equity $ 169,340 $ 189,232
[1] The following table summarizes assets and liabilities related to our consolidated variable interest entities ("VIEs") at September 30, 2022 and December 31, 2021. Assets and liabilities exclude intercompany balances that eliminate in consolidation. See Note 17, "Variable Interest Entities," for additional information.
September 30, 2022December 31, 2021
(in millions)
Assets
Loans$127 $46 
Other assets44 55 
Total assets$171 $101 
Liabilities
Interest, taxes and other liabilities$26 $
Total liabilities$26 $