Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interests Held by Us and Our Maximum Exposure to Loss Rising From Our Involvements in Those VIEs

The following table provides additional information on these unconsolidated VIEs, including the variable interests held by us and our maximum exposure to loss arising from our involvement in these VIEs:

	Total Assets Held by Unconsolidated VIEs		Carrying Value of Variable Interests Held Reported as				Maximum Exposure to Loss
			Assets		Liabilities
	(in billions)
At March 31, 2026
Limited partnership investments(1)	$	8.2	$	1.5	$	.8	$	1.5
Asset-backed financing SPEs	1.5		1.0		—		1.1
Total	$	9.7	$	2.5	$	.8	$	2.6
At December 31, 2025
Limited partnership investments(1)	$	8.2	$	1.3	$	.7	$	1.3
Asset-backed financing SPEs	.4		.2		—		.2
Total	$	8.6	$	1.5	$	.7	$	1.5

(1)The carrying value of variable interests held reported as assets includes low income housing investments which totaled $1.5 billion and $1.3 billion at March 31, 2026 and December 31, 2025, respectively.