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Fair Value (Tables)
 9 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables present information with respect to our financial assets and liabilities carried at fair value in our consolidated statement of condition on a recurring basis as of the dates indicated:
Fair Value Measurements on a Recurring Basis
As of September 30, 2021
(In millions)
Quoted Market
Prices in Active
Markets
(Level 1)
Pricing Methods
with Significant
Observable
Market Inputs
(Level 2)
Pricing Methods
with Significant
Unobservable
Market Inputs
(Level 3)
Impact of Netting(1)
Total Net
Carrying Value
in Consolidated
Statement of
Condition
Assets:
Trading account assets:
U.S. government securities$40 $— $— $40 
Non-U.S. government securities— 135 — 135 
Other— 545 — 545 
Total trading account assets40 680 — 720 
Available-for-sale investment securities:
U.S. Treasury and federal agencies:
Direct obligations14,339 — — 14,339 
Mortgage-backed securities— 16,223 — 16,223 
Total U.S. Treasury and federal agencies14,339 16,223 — 30,562 
Non-U.S. debt securities:
Mortgage-backed securities— 2,141 — 2,141 
Asset-backed securities— 2,365 — 2,365 
Non-U.S. sovereign, supranational and non-U.S. agency— 22,854 — 22,854 
Other— 3,306 — 3,306 
Total non-U.S. debt securities— 30,666 — 30,666 
Asset-backed securities:
Student loans— 231 — 231 
Collateralized loan obligations— 4,296 — 4,296 
Non-agency CMBS and RMBS(2)
— 59 — 59 
Other— 92 — 92 
Total asset-backed securities— 4,678 — 4,678 
State and political subdivisions— 1,396 — 1,396 
Other U.S. debt securities— 2,977 — 2,977 
Total available-for-sale investment securities14,339 55,940 — 70,279 
Other assets:
Derivative instruments:
Foreign exchange contracts— 16,451 2 $(8,892)7,561 
Interest rate contracts4 — — — 4 
Total derivative instruments4 16,451 2 (8,892)7,565 
Other— 652 — — 652 
Total assets carried at fair value$14,383 $73,723 $2 $(8,892)$79,216 
Liabilities:
Accrued expenses and other liabilities:
Derivative instruments:
Foreign exchange contracts$2 $15,733 $— $(11,619)$4,116 
Interest rate contracts— 27 — (4)23 
Other derivative contracts— 176 — — 176 
Total derivative instruments2 15,936 — (11,623)4,315 
Total liabilities carried at fair value$2 $15,936 $— $(11,623)$4,315 
(1) Represents counterparty netting against level 2 financial assets and liabilities where a legally enforceable master netting agreement exists between us and the counterparty. Netting also reflects asset and liability reductions of $1.23 billion and $3.96 billion, respectively, for cash collateral received from and provided to derivative counterparties.
(2) Consists entirely of non-agency CMBS.
Fair Value Measurements on a Recurring Basis
As of December 31, 2020
(In millions)
Quoted Market
Prices in Active
Markets
(Level 1)		Pricing Methods
with Significant
Observable
Market Inputs
(Level 2)		Pricing Methods
with Significant
Unobservable
Market Inputs
(Level 3)
Impact of Netting(1)
Total Net
Carrying Value
in Consolidated
Statement of
Condition
Assets:
Trading account assets:
U.S. government securities$40 $— $— $40 
Non-U.S. government securities— 239 — 239 
Other17 519 — 536 
Total trading account assets57 758 — 815 
Available-for-sale investment securities:
U.S. Treasury and federal agencies:
Direct obligations6,575 — — 6,575 
Mortgage-backed securities— 14,305 — 14,305 
Total U.S. Treasury and federal agencies6,575 14,305 — 20,880 
Non-U.S. debt securities:
Mortgage-backed securities— 1,996 — 1,996 
Asset-backed securities— 2,291 — 2,291 
Non-U.S. sovereign, supranational and non-U.S. agency— 22,087 — 22,087 
Other— 3,355 — 3,355 
Total non-U.S. debt securities— 29,729 — 29,729 
Asset-backed securities:
Student loans— 314 — 314 
Collateralized loan obligations— 2,952 14 2,966 
Non-agency CMBS and RMBS(2)
— 78 — 78 
Other— 90 — 90 
Total asset-backed securities— 3,434 14 3,448 
State and political subdivisions— 1,548 — 1,548 
Other U.S. debt securities— 3,443 — 3,443 
Total available-for-sale investment securities6,575 52,459 14 59,048 
Other assets:
Derivative instruments:
Foreign exchange contracts— 25,941 2 $(20,140)5,803 
Interest rate contracts1 — — — 1 
Total derivative instruments1 25,941 2 (20,140)5,804 
Other— 525 — — 525 
Total assets carried at fair value$6,633 $79,683 $16 $(20,140)$66,192 
Liabilities:
Accrued expenses and other liabilities:
Trading account liabilities:
Other$4 $— $— $— $4 
Derivative instruments:
Foreign exchange contracts1 25,925 1 (15,558)10,369 
Interest rate contracts— 42 — — 42 
Other derivative contracts— 157 — — 157 
Total derivative instruments1 26,124 1 (15,558)10,568 
Total liabilities carried at fair value$5 $26,124 $1 $(15,558)$10,572 
(1) Represents counterparty netting against level 2 financial assets and liabilities where a legally enforceable master netting agreement exists between us and the counterparty. Netting also reflects asset and liability reductions of $5.87 billion and $1.29 billion, respectively, for cash collateral received from and provided to derivative counterparties.
(2) Consists entirely of non-agency CMBS.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The following tables present activity related to our level 3 financial assets during the three and nine months ended September 30, 2021 and 2020, respectively. Transfers into and out of level 3 are reported as of the beginning of the period presented. During the three months ended September 30, 2021, there were no transfers into and out of level 3. During the nine months ended September 30, 2021, transfers into level 3 were primarily related to a U.S. corporate bond, for which fair value was measured using information obtained from third party sources, including non-binding broker/dealer quotes. During the nine months ended September 30, 2021, transfers out of level 3 were primarily related to collateralized loan obligations and a U.S. corporate bond, for which fair value was measured using prices for which observable market information became available. During the three and nine months ended September 30, 2020, transfers into level 3 were primarily related to collateralized loan obligations. During the three and nine months ended September 30, 2020, there were no transfers out of level 3.
Fair Value Measurements Using Significant Unobservable Inputs
 Three Months Ended September 30, 2021
 Fair Value as of June 30, 2021
Total Realized and
Unrealized Gains (Losses)(1)
PurchasesSalesSettlements
Transfers into
Level 3
Transfers
out of Level 3
Fair Value 
as of September 30, 2021(1)
Change in Unrealized Gains (Losses) Related to Financial Instruments
Held as of
September 30, 2021
(In millions)
Recorded in Revenue(1)
Recorded in Other Comprehensive Income(1)
Assets:
Other assets:
Derivative instruments:
Foreign exchange contracts$2 $— $— $1 $— $(1)$— $— $2 $— 
Total derivative instruments2 — — 1 — (1)— — 2 — 
Total assets carried at fair value$2 $— $— $1 $— $(1)$— $— $2 $— 
(1) Total realized and unrealized gains (losses) on derivative instruments are included within foreign exchange trading services.
Fair Value Measurements Using Significant Unobservable Inputs
 Nine Months Ended September 30, 2021
 Fair Value as of
December 31,
2020
Total Realized and
Unrealized Gains (Losses)(1)
PurchasesSalesSettlements
Transfers into
Level 3
Transfers
out of Level 3
Fair Value 
as of September 30, 2021(1)
Change in Unrealized Gains (Losses) Related to Financial Instruments
Held as of
September 30, 2021
(In millions)
Recorded in Revenue(1)
Recorded in Other Comprehensive Income(1)
Assets:
Available-for-sale Investment securities:
Asset-backed securities:
Collateralized loan obligations$14 $— $— $106 $— $— $— $(120)$— 
Total asset-backed securities14 — — 106 — — — (120)— 
Other U.S. debt securities— — — — — — 15 (15)— 
Total available-for-sale investment securities14 — — 106 — — 15 (135)— 
Other assets:
Derivative instruments:
Foreign exchange contracts2 (3)— 4 — (1)— — 2 $(1)
Total derivative instruments2 (3)— 4 — (1)— — 2 (1)
Total assets carried at fair value$16 $(3)$— $110 $— $(1)$15 $(135)$2 $(1)
(1) Total realized and unrealized gains (losses) on AFS investment securities are included within gains (losses) related to investment securities, net. Total realized and unrealized gains (losses) on derivative instruments are included within foreign exchange trading services.
Fair Value Measurements Using Significant Unobservable Inputs
 Three Months Ended September 30, 2020
 Fair Value
as of
June 30,
2020
Total Realized and
Unrealized Gains (Losses)(1)
PurchasesSalesSettlementsTransfers
into
Level 3		Transfers
out of
Level 3
Fair Value 
as of September 30, 2020(1)
Change in Unrealized Gains (Losses) Related to Financial Instruments
Held as of
September 30, 2020
(In millions)
Recorded
in
Revenue(1)
Recorded
in Other
Comprehensive
Income(1)
Assets:
Available-for-sale Investment securities:
Asset-backed securities:
Collateralized loan obligations$1,869 $— $14 $663 $(34)$(24)$50 $— $2,538 
Total asset-backed securities1,869 — 14 663 (34)(24)50 — 2,538 
Non-U.S. debt securities:
Asset-backed securities876 — 45 — — (3)— — 918 
Other45 — 2 — — — — — 47 
Total non-U.S. debt securities921 — 47 — — (3)— — 965 
Total available-for-sale investment securities2,790 — 61 663 (34)(27)50 — 3,503 
Other assets:
Derivative instruments:
Foreign exchange contracts2 (2)— 9 — (3)— — 6 $(4)
Total derivative instruments2 (2)— 9 — (3)— — 6 (4)
Total assets carried at fair value$2,792 $(2)$61 $672 $(34)$(30)$50 $— $3,509 $(4)
(1) Total realized and unrealized gains (losses) on AFS investment securities are included within gains (losses) related to investment securities, net. Total realized and unrealized gains (losses) on derivative instruments are included within foreign exchange trading services.
Fair Value Measurements Using Significant Unobservable Inputs
 Nine Months Ended September 30, 2020
 Fair Value
as of
December 31,
2019
Total Realized and
Unrealized Gains (Losses)(1)
PurchasesSalesSettlementsTransfers
into
Level 3		Transfers
out of
Level 3
Fair Value 
as of September 30, 2020(1)
Change in Unrealized Gains (Losses) Related to Financial Instruments
Held as of
September 30, 2020
(In millions)
Recorded
in
Revenue(1)
Recorded
in Other
Comprehensive
Income(1)
Assets:
Available-for-sale Investment securities:
Asset-backed securities:
Collateralized loan obligations$1,820 $— $(10)$850 $(95)$(77)$50 $— $2,538 
Total asset-backed securities1,820 — (10)850 (95)(77)50 — 2,538 
Non-U.S. debt securities:
Asset-backed securities887 — 35 1 — (5)— — 918 
Other45 — 2 — — — — — 47 
Total non-U.S. debt securities932 — 37 1 — (5)— — 965 
Total available-for-sale investment securities2,752 — 27 851 (95)(82)50 — 3,503 
Other assets:
Derivative instruments:
Foreign exchange contracts4 (7)— 10 — (1)— — 6 $(4)
Total derivative instruments4 (7)— 10 — (1)— — 6 (4)
Total assets carried at fair value$2,756 $(7)$27 $861 $(95)$(83)$50 $— $3,509 $(4)
(1) Total realized and unrealized gains (losses) on AFS investment securities are included within gains (losses) related to investment securities, net. Total realized and unrealized gains (losses) on derivative instruments are included within foreign exchange trading services.
Fair Value Inputs, Quantitative Information
The following table presents quantitative information, as of the dates indicated, about the valuation techniques and significant unobservable inputs used in the valuation of our level 3 financial assets and liabilities measured at fair value on a recurring basis for which we use internally-developed pricing models. The significant unobservable inputs for our level 3 financial assets and liabilities whose fair value is measured using pricing information from non-binding broker/dealer quotes are not included in the table, as the specific inputs applied are not provided by the broker/dealer.
Quantitative Information about Level 3 Fair Value Measurements
Fair ValueRangeWeighted-Average
(Dollars in millions)As of September 30, 2021As of December 31, 2020Valuation Technique
Significant Unobservable Input(1)
As of September 30, 2021As of September 30, 2021As of December 31, 2020
Significant unobservable inputs readily available to State Street: 
Assets:
Derivative Instruments, foreign exchange contracts$2 $2 Option modelVolatility5.0%-12.6%7.6 %7.9 %
Total$2 $2 
Liabilities:
Derivative instruments, foreign exchange contracts$— $1 Option modelVolatility6.9%-8.0%7.4 %7.7 %
Total$— $1 
(1) Significant changes in these unobservable inputs may result in significant changes in fair value measurement of the derivative instrument.
Carrying Value and Estimated Fair Value of Financial Instruments by Fair Value Hierarchy
The following tables present the reported amounts and estimated fair values of the financial assets and liabilities not carried at fair value, as they would be categorized within the fair value hierarchy, as of the dates indicated:
 Fair Value Hierarchy
(In millions)Reported Amount Estimated Fair ValueQuoted Market Prices in Active Markets (Level 1)Pricing Methods with Significant Observable Market Inputs (Level 2) Pricing Methods with Significant Unobservable Market Inputs (Level 3)
September 30, 2021
Financial Assets:    
Cash and due from banks$4,606 4,606 $4,606 $— $— 
Interest-bearing deposits with banks107,553 107,553 — 107,553 — 
Securities purchased under resale agreements2,847 2,847 — 2,847 — 
Investment securities held-to-maturity43,346 43,728 2,708 41,020 — 
Net loans(1)
32,702 32,806 — 30,292 2,514 
Financial Liabilities:
Deposits:
   Non-interest-bearing$64,885 $64,885 $— $64,885 $— 
   Interest-bearing - U.S.108,909 108,909 — 108,909 — 
   Interest-bearing - non-U.S.85,579 85,579 — 85,579 — 
Securities sold under repurchase agreements637 637 — 637 — 
Other short-term borrowings549 549 — 549 — 
Long-term debt12,978 13,151 — 13,069 82 
(1) Includes $61 million of loans classified as held-for-sale that were measured at fair value in level 2 as of September 30, 2021.
Fair Value Hierarchy
(In millions)Reported Amount Estimated Fair ValueQuoted Market Prices in Active Markets (Level 1)Pricing Methods with Significant Observable Market Inputs (Level 2) Pricing Methods with Significant Unobservable Market Inputs (Level 3)
December 31, 2020
Financial Assets:
Cash and due from banks$3,467 $3,467 $3,467 $— $— 
Interest-bearing deposits with banks116,960 116,960 — 116,960 — 
Securities purchased under resale agreements3,106 3,106 — 3,106 — 
HTM securities purchased under the MMLF
program		3,299 3,304 — 3,304 — 
Investment securities held-to-maturity48,929 50,003 6,115 43,888 — 
Net loans27,803 27,884 — 25,668 2,216 
Other(1)
4,753 4,753 — 4,753 — 
Financial Liabilities:
Deposits:
Non-interest-bearing$49,439 $49,439 $— $49,439 $— 
Interest-bearing - U.S.102,331 102,331 — 102,331 — 
Interest-bearing - non-U.S.88,028 88,028 — 88,028 — 
Securities sold under repurchase agreements3,413 3,413 — 3,413 — 
Short-term borrowings under the MMLF
program		3,302 3,302 — 3,302 — 
Other short-term borrowings685 685 — 685 — 
Long-term debt13,805 14,162 — 14,049 113 
Other(1)
4,753 4,753 — 4,753 — 
(1) Represents a portion of underlying client assets related to our enhanced custody business, which clients have allowed us to transfer and re-pledge.