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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Marketable Securities
The following table presents the amortized cost, fair value and associated unrealized gains and losses of AFS and HTM investment securities as of the dates indicated:
 December 31, 2022December 31, 2021
 Amortized
Cost		Gross
Unrealized		Fair
Value		Amortized
Cost		Gross
Unrealized		Fair
Value
(In millions)GainsLossesGainsLosses
Available-for-sale:
U.S. Treasury and federal agencies:
Direct obligations$8,232 $10 $261 $7,981 $18,111 $24 $196 $17,939 
Mortgage-backed securities8,767 2 260 8,509 18,154 148 94 18,208 
Total U.S. Treasury and federal agencies16,999 12 521 16,490 36,265 172 290 36,147 
Non-U.S. debt securities:
Mortgage-backed securities1,642 — 19 1,623 1,986 12 3 1,995 
Asset-backed securities(1)
1,696 — 27 1,669 2,087 2 2 2,087 
Non-U.S. sovereign, supranational and non-U.S. agency14,512 1 424 14,089 23,533 114 100 23,547 
Other(2)
2,255 — 164 2,091 3,113 17 32 3,098 
Total non-U.S. debt securities20,105 1 634 19,472 30,719 145 137 30,727 
Asset-backed securities:
Student loans(3)
116 — 1 115 209 2 — 211 
Collateralized loan obligations(4)
2,394 — 39 2,355 2,155 2 2 2,155 
Non-agency CMBS and RMBS(5)
237 — 6 231 52 — — 52 
Other90 — 2 88 90 1 — 91 
Total asset-backed securities2,837 — 48 2,789 2,506 5 2 2,509 
State and political subdivisions839 1 17 823 1,216 59 3 1,272 
Other U.S. debt securities(6)
1,078 — 73 1,005 2,734 23 13 2,744 
Total available-for-sale securities(7)(8)
$41,858 $14 $1,293 $40,579 $73,440 $404 $445 $73,399 
Held-to-maturity:
U.S. Treasury and federal agencies:
Direct obligations$11,693 $— $341 $11,352 $2,170 $10 $— $2,180 
Mortgage-backed securities42,307 3 6,030 36,280 33,481 362 578 33,265 
Total U.S. Treasury and federal agencies54,000 3 6,371 47,632 35,651 372 578 35,445 
Non-U.S. debt securities:
Non-U.S. sovereign, supranational and non-U.S. agency6,603 — 304 6,299 1,564 — 9 1,555 
Total non-U.S. debt securities6,603 — 304 6,299 1,564 — 9 1,555 
Asset-backed securities:
Student loans(3)
3,955 1 134 3,822 4,908 48 14 4,942 
Non-agency CMBS and RMBS(9)
142 18 — 160 307 22 1— 329 
Total asset-backed securities4,097 19 134 3,982 5,215 70 14 5,271 
Total held-to-maturity securities(7)
$64,700 $22 $6,809 $57,913 $42,430 $442 $601 $42,271 
(1) As of December 31, 2022 and 2021, the fair value includes non-U.S. collateralized loan obligations of $0.86 billion and $0.83 billion, respectively.
(2) As of December 31, 2022 and 2021, the fair value includes non-U.S. corporate bonds of $1.14 billion and $1.53 billion, respectively,
(3) Primarily comprised of securities guaranteed by the federal government with respect to at least 97% of defaulted principal and accrued interest on the underlying loans.
(4) Excludes collateralized loan obligations in loan form. Refer to Note 4 for additional information.
(5) Consists entirely of non-agency CMBS as of both December 31, 2022 and 2021.
(6) As of December 31, 2022 and 2021, the fair value of U.S. corporate bonds was $1.01 billion and $2.44 billion, respectively.
(7) An immaterial amount of accrued interest related to HTM and AFS investment securities was excluded from the amortized cost basis for the period ended December 31, 2022.
(8) As of both December 31, 2022 and December 31, 2021, total amortized cost included an allowance for credit losses on AFS investment securities of $2 million.
(9) As of December 31, 2022 and 2021, the total amortized cost included $133 million and $292 million, respectively, of non-agency CMBS and $9 million and $14 million of non-agency RMBS, respectively.
Schedule of Gross Pre-tax Unrealized Losses on Investment Securities
The following tables present the aggregate fair values of AFS investment securities that have been in a continuous unrealized loss position for less than 12 months, and those that have been in a continuous unrealized loss position for 12 months or longer, as of the dates indicated:
As of December 31, 2022
Less than 12 months12 months or longerTotal
(In millions)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Available-for-sale:
U.S. Treasury and federal agencies:
Direct obligations$1,337 $15 $5,745 $246 $7,082 $261 
Mortgage-backed securities5,524 130 2,815 130 8,339 260 
Total U.S. Treasury and federal agencies6,861 145 8,560 376 15,421 521 
Non-U.S. debt securities:
Mortgage-backed securities1,278 15 272 4 1,550 19 
Asset-backed securities859 11 765 16 1,624 27 
Non-U.S. sovereign, supranational and non-U.S. agency6,750 108 5,800 316 12,550 424 
Other771 27 1,233 137 2,004 164 
Total non-U.S. debt securities9,658 161 8,070 473 17,728 634 
Asset-backed securities:
Student loans89 1 — — 89 1 
Collateralized loan obligations1,577 27 710 12 2,287 39 
Non-agency CMBS and RMBS193 6 3 — 196 6 
Other88 2 — — 88 2 
Total asset-backed securities1,947 36 713 12 2,660 48 
State and political subdivisions669 12 42 5 711 17 
Other U.S. debt securities294 15 708 58 1,002 73 
Total$19,429 $368 $18,093 $924 $37,522 $1,293 
As of December 31, 2021
Less than 12 months12 months or longerTotal
(In millions)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Available-for-sale:
U.S. Treasury and federal agencies:
Direct obligations$14,749 $194 $1,624 $2 $16,373 $196 
Mortgage-backed securities10,417 80 369 14 10,786 94 
Total U.S. Treasury and federal agencies25,166 274 1,993 16 27,159 290 
Non-U.S. debt securities:
Mortgage-backed securities577 3 30 — 607 3 
Asset-backed securities1,021 2 127 — 1,148 2 
Non-U.S. sovereign, supranational and non-U.S. agency10,406 97 63 3 10,469 100 
Other1,570 31 19 1 1,589 32 
Total non-U.S. debt securities13,574 133 239 4 13,813 137 
Asset-backed securities:
Collateralized loan obligations1,268 2 — — 1,268 2 
Total asset-backed securities1,268 2 — — 1,268 2 
State and political subdivisions10 — 45 3 55 3 
Other U.S. debt securities1,214 13 — — 1,214 13 
Total$41,232 $422 $2,277 $23 $43,509 $445 
Investments Classified by Contractual Maturity Date
The following table presents the amortized cost and the fair value of contractual maturities of debt investment securities as of December 31, 2022. The maturities of certain ABS, MBS and collateralized mortgage obligations are based on expected principal payments. Actual maturities may differ from these expected maturities since certain borrowers have the right to prepay obligations with or without prepayment penalties.
As of December 31, 2022
(In millions)Under 1 Year1 to 5 Years6 to 10 YearsOver 10 YearsTotal
Amortized Cost
Fair Value
Amortized Cost
Fair Value
Amortized Cost
Fair Value
Amortized Cost
Fair Value
Amortized Cost
Fair Value
Available-for-sale:
U.S. Treasury and federal agencies:
Direct obligations$1,966 $1,940 $5,731 $5,496 $535 $545 $— $— $8,232 $7,981 
Mortgage-backed securities51 49 459 454 6,513 6,345 1,744 1,661 8,767 8,509 
Total U.S. Treasury and federal agencies2,017 1,989 6,190 5,950 7,048 6,890 1,744 1,661 16,999 16,490 
Non-U.S. debt securities:
Mortgage-backed securities58 58 385 382 — — 1,199 1,183 1,642 1,623 
Asset-backed securities347 342 587 578 451 444 311 305 1,696 1,669 
Non-U.S. sovereign, supranational and
non-U.S. agency		4,619 4,567 7,236 6,897 2,657 2,625 — — 14,512 14,089 
Other190 187 1,904 1,769 141 120 20 15 2,255 2,091 
Total non-U.S. debt securities5,214 5,154 10,112 9,626 3,249 3,189 1,530 1,503 20,105 19,472 
Asset-backed securities:
Student loans39 39 — — — — 77 76 116 115 
Collateralized loan obligations183 182 397 390 1,225 1,205 589 578 2,394 2,355 
Non-agency CMBS and RMBS— — — — — — 237 231 237 231 
Other— — 90 88 — — — — 90 88 
Total asset-backed securities222 221 487 478 1,225 1,205 903 885 2,837 2,789 
State and political subdivisions146 144 273 266 376 373 44 40 839 823 
Other U.S. debt securities119 117 918 850 41 38 — — 1,078 1,005 
Total$7,718 $7,625 $17,980 $17,170 $11,939 $11,695 $4,221 $4,089 $41,858 $40,579 
Held-to-maturity:
U.S. Treasury and federal agencies:
Direct obligations$2,329 $2,285 $9,327 $9,032 $24 $22 $13 $13 $11,693 $11,352 
Mortgage-backed securities154 139 578 542 4,627 3,844 36,948 31,755 42,307 36,280 
Total U.S. Treasury and federal agencies2,483 2,424 9,905 9,574 4,651 3,866 36,961 31,768 54,000 47,632 
Non-U.S. debt securities:
Non-U.S. sovereign, supranational and
non-U.S. agency		1,518 1,492 4,520 4,293 565 514 — — 6,603 6,299 
Total non-U.S. debt securities1,518 1,492 4,520 4,293 565 514 — — 6,603 6,299 
Asset-backed securities:
Student loans290 279 8 8 931 911 2,726 2,624 3,955 3,822 
Non-agency CMBS and RMBS122 129 — — — — 20 31 142 160 
Total asset-backed securities412 408 8 8 931 911 2,746 2,655 4,097 3,982 
Total$4,413 $4,324 $14,433 $13,875 $6,147 $5,291 $39,707 $34,423 $64,700 $57,913