Other Assets

3 Months Ended

Mar. 31, 2022

Other Assets [Abstract]

Other Assets

Other Assets

The following table presents the components of other assets as of the dates indicated:

(In millions)	March 31, 2022		December 31, 2021
Securities borrowed(1)	$	24,108	$	22,300
Derivative instruments, net	6,786		4,108
Bank-owned life insurance	3,577		3,554
Investments in joint ventures and other unconsolidated entities (2)	3,236		3,162
Collateral, net	1,475		1,011
Receivable for securities settlement	895		213
Deferred tax assets, net of valuation allowance(3)	775		254
Prepaid expenses	737		612
Accounts receivable	590		236
Right-of-use assets	546		542
Income taxes receivable	295		317
Deposits with clearing organizations	62		62
Other(4)	1,118		1,244
Total	$	44,200	$	37,615

(1) Refer to Note 8, for further information on the impact of collateral on our financial statement presentation of securities borrowing and securities lending transactions.

(2) Includes equity securities without readily determinable fair values that are accounted for under the ASC 321 measurement alternative of $163 million and $109 million as of March 31, 2022 and December 31, 2021, respectively. For the three months ended March 31, 2022, $55 million of upward adjustments resulting from observable prices changes were recognized in other fee revenue related to such equity securities

(3) Deferred tax assets and liabilities recorded in our consolidated statement of condition are netted within the same tax jurisdiction.

(4) Includes advances of $587 million and $544 million as of March 31, 2022 and December 31, 2021, respectively.