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Fair Value (Tables)
 12 Months Ended
Dec. 31, 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 December 31, 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$39 $— $— $39 
Non-U.S. government securities— 134 — 134 
Other— 585 — 585 
Total trading account assets39 719 — 758 
Available-for-sale investment securities:
U.S. Treasury and federal agencies:
Direct obligations17,939 — — 17,939 
Mortgage-backed securities— 18,208 — 18,208 
Total U.S. Treasury and federal agencies17,939 18,208 — 36,147 
Non-U.S. debt securities:
Mortgage-backed securities— 1,995 — 1,995 
Asset-backed securities— 2,087 — 2,087 
Non-U.S. sovereign, supranational and non-U.S. agency— 23,547 — 23,547 
Other— 3,098 — 3,098 
Total non-U.S. debt securities— 30,727 — 30,727 
Asset-backed securities:
Student loans— 211 — 211 
Collateralized loan obligations— 2,155 — 2,155 
Non-agency CMBS and RMBS(2)
— 52 — 52 
Other— 91 — 91 
Total asset-backed securities— 2,509 — 2,509 
State and political subdivisions— 1,272 — 1,272 
Other U.S. debt securities— 2,744 — 2,744 
Total available-for-sale investment securities17,939 55,460 — 73,399 
Other assets:
Derivative instruments:
Foreign exchange contracts2 15,183 — $(11,079)4,106 
Interest rate contracts2 — — — 2 
Total derivative instruments4 15,183 — (11,079)4,108 
Other— 667 — — 667 
Total assets carried at fair value$17,982 $72,029 $— $(11,079)$78,932 
Liabilities:
Accrued expenses and other liabilities:
Derivative instruments:
Foreign exchange contracts$1 $15,824 $— $(10,395)$5,430 
Other derivative contracts— 301 — — 301 
Total derivative instruments1 16,125 — (10,395)5,731 
Total liabilities carried at fair value$1 $16,125 $— $(10,395)$5,731 
(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 $1.97 billion and $1.28 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 years ended December 31, 2021 and 2020, respectively. Transfers into and out of level 3 are reported as of the beginning of the period presented. During the years ended December 31, 2021 and 2020, transfers into level 3 were primarily related to collateralized loan obligations and 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 years ended December 31, 2021 and 2020, transfers out of level 3 were mainly related to collateralized loan obligations, certain non-U.S. debt securities and a U.S. corporate bond, for which fair value was measured using prices based on observable market information.
Fair Value Measurements Using Significant Unobservable Inputs
 Year Ended December 31, 2021
 Fair Value as of
December 31,
2020		Total Realized and
Unrealized Gains (Losses)		PurchasesSalesSettlements
Transfers into
Level 3
Transfers
out of Level 3
Fair Value 
as of December 31, 2021(1)
Change in Unrealized Gains (Losses) Related to Financial Instruments
Held as of
December 31, 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)— 1 — — — — — $(1)
Total derivative instruments2 (3)— 1 — — — — — (1)
Total assets carried at fair value$16 $(3)$— $107 $— $— $15 $(135)$— $(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
 Year Ended December 31, 2020
 Fair Value
as of
December 31,
2019		Total Realized and
Unrealized Gains (Losses)		PurchasesSalesSettlementsTransfers
into
Level 3		Transfers
out of
Level 3
Fair Value 
as of December 31, 2020(1)
Change in Unrealized Gains (Losses) Related to Financial Instruments
Held as of
December 31, 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)$864 $(95)$(77)$50 $(2,538)$14 
Total asset-backed securities1,820 — (10)864 (95)(77)50 (2,538)14 
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 — 27 865 (95)(82)50 (3,503)14 
Other assets:
Derivative instruments:
Foreign exchange contracts4 (6)— 5 — (1)— — 2 $(3)
Total derivative instruments4 (6)— 5 — (1)— — 2 (3)
Total assets carried at fair value$2,756 $(6)$27 $870 $(95)$(83)$50 $(3,503)$16 $(3)
(1) Total realized and unrealized gains (losses) on AFS investment securities are included within gains (losses) related to investment securities, net. Total realized and unrealized gains (losses) on derivative instruments are included within foreign exchange trading services.
Fair Value Inputs, Quantitative Information
The following table presents quantitative information, as of the dates indicated, about the valuation techniques and significant unobservable inputs used in the valuation of our level 3 financial assets and liabilities measured at fair value on a recurring basis for which we use internally-developed pricing models. The significant unobservable inputs for our level 3 financial assets and liabilities whose fair value is measured using pricing information from non-binding broker/dealer quotes are not included in the table, as the specific inputs applied are not provided by the broker/dealer.
Quantitative Information about Level 3 Fair Value Measurements
Fair ValueRangeWeighted-Average
(Dollars in millions)As of December 31, 2021As of December 31, 2020Valuation Technique
Significant Unobservable Input(1)
As of December 31, 2021As of December 31, 2021As of December 31, 2020
Significant unobservable inputs readily available to State Street:
Assets:
Derivative Instruments, foreign exchange contracts$— $2 Option modelVolatility5.3%-15.9%15.2 %7.9 %
Total$— $2 
Liabilities:
Derivative instruments, foreign exchange contracts$— $1 Option modelVolatility14.7%-14.7%14.7 %7.7 %
Total$— $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 Value
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)
December 31, 2021
Financial Assets:    
Cash and due from banks$3,631 $3,631 $3,631 $— $— 
Interest-bearing deposits with banks106,358 106,358 — 106,358 — 
Securities purchased under resale agreements3,012 3,012 — 3,012 — 
Investment securities held-to-maturity42,430 42,271 2,160 40,111 — 
Net loans(1)
32,445 32,528 — 29,862 2,666 
Other(2)
1 1 — 1 — 
Financial Liabilities:
Deposits:
   Non-interest-bearing$56,461 $56,461 $— $56,461 $— 
   Interest-bearing - U.S.102,985 102,985 — 102,985 — 
   Interest-bearing - non-U.S.95,589 95,589 — 95,589 — 
Securities sold under repurchase agreements1,575 1,575 — 1,575 — 
Other short-term borrowings128 128 — 128 — 
Long-term debt13,475 13,552 — 13,385 167 
Other(2)
1 1 — 1 — 
(1) Includes $8 million of loans classified as held-for-sale that were measured at fair value in level 2 as of December 31, 2021.
(2) Represents a portion of underlying client assets related to our enhanced custody business, which clients have allowed us to transfer and re-pledge.
Fair Value Hierarchy
(In millions)
Reported Amount 
Estimated Fair Value
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)
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.