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Securities Financing Activities
12 Months Ended
Dec. 31, 2019
Offsetting [Abstract]  
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure Securities Financing Activities
Securities purchased under resale agreements are primarily collateralized by U.S. government or agency securities and are carried at the amounts at which the securities will be subsequently sold, plus accrued interest. Securities borrowed are primarily collateralized by corporate securities. The Company borrows securities and purchases securities under agreements to resell as part of its securities financing activities. On the acquisition date of these securities, the Company and the related counterparty agree on the amount of collateral required to secure the principal amount loaned under these arrangements. The following table presents securities borrowed or purchased under resale agreements:
December 31,
(Dollars in millions)
20192018
Securities purchased under resale agreements$986  $143  
Securities borrowed431  —  
Total securities borrowed or purchased under resale agreements$1,417  $143  

For securities sold under agreements to repurchase, the Company would be obligated to provide additional collateral in the event of a significant decline in fair value of the collateral pledged. This risk is managed by monitoring the liquidity and credit quality of the collateral, as well as the maturity profile of the transactions. Refer to "Note 16. Commitments and Contingencies" for additional information related to pledged securities. Securities sold under agreements to repurchase are accounted for as secured borrowings. The following table presents the Company’s related activity, by collateral type and remaining contractual maturity:
December 31,
(Dollars in millions)
20192018
Overnight and ContinuousUp to 30 days30-90 daysTotalOvernight and ContinuousUp to 30 daysTotal
U.S. Treasury$115  $35  $—  $150  $—  $ $ 
GSE87  37  —  124  27  26  53  
Agency MBS - residential928  41  100  1,069  103  93  196  
Corporate and other debt securities310  316  —  626  —  —  —  
Total securities sold under agreements to repurchase$1,440  $429  $100  $1,969  $130  $121  $251  

At December 31, 2019 and 2018, there were no transactions subject to legally enforceable master netting arrangements that were eligible for balance sheet netting.