Other Assets (Tables)

12 Months Ended

Dec. 31, 2022

Other Assets [Abstract]

Components of Other Assets

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

(In millions)	December 31, 2022		December 31, 2021
Securities borrowed(1)	$	16,489	$	22,300
Derivative instruments, net	7,664		4,108
Bank-owned life insurance	3,649		3,554
Investments in joint ventures and other unconsolidated entities(2)	3,245		3,162
Collateral, net	1,833		1,011
Deferred tax assets, net of valuation allowance(3)	1,127		254
Prepaid expenses	558		612
Right-of-use assets	500		542
Accounts receivable	404		236
Receivable for securities settlement	383		213
Income taxes receivable	235		317
Deposits with clearing organizations	62		62
Other(4)	1,753		1,244
Total	$	37,902	$	37,615

(1) Refer to Note 11, 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 $179 million and $109 million as of December 31, 2022 and December 31, 2021, respectively. For the year ended December 31, 2022, $54 million of upward adjustments resulting from observable pricing 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 $1,201 million and $544 million as of December 31, 2022 and 2021, respectively.