Other Assets

3 Months Ended

Mar. 31, 2023

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, 2023		December 31, 2022
Securities borrowed(1)	$	21,627	$	16,489
Derivative instruments, net	4,661		7,664
Bank-owned life insurance	3,674		3,649
Collateral, net	3,087		1,833
Investments in joint ventures and other unconsolidated entities(2)	3,025		3,245
Deferred tax assets, net of valuation allowance(3)	989		1,127
Prepaid expenses	679		558
Receivable for securities settlement	536		383
Right-of-use assets	478		500
Accounts receivable	446		404
Income taxes receivable	273		235
Deposits with clearing organizations	62		62
Other(4)	1,218		1,753
Total	$	40,755	$	37,902

(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 $176 million and $179 million as of March 31, 2023 and December 31, 2022, respectively. For the three months ended March 31, 2023, a gain of $19 million resulting from an observable transaction was 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 $505 million and $1,201 million as of March 31, 2023 and December 31, 2022, respectively.