Other Assets (Tables)

6 Months Ended

Jun. 30, 2023

Other Assets [Abstract]

Components of Other Assets

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

(In millions)	June 30, 2023		December 31, 2022
Securities borrowed(1)	$	25,322	$	16,489
Derivative instruments, net	6,428		7,664
Bank-owned life insurance	3,701		3,649
Investments in joint ventures and other unconsolidated entities(2)	2,905		3,245
Collateral, net	2,495		1,833
Deferred tax assets, net of valuation allowance(3)	1,139		1,127
Prepaid expenses	671		558
Receivable for securities settlement	663		383
Right-of-use assets	579		500
Accounts receivable	399		404
Income taxes receivable	243		235
Deposits with clearing organizations	58		62
Other(4)	1,978		1,753
Total	$	46,581	$	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 $186 million and $179 million as of June 30, 2023 and December 31, 2022, respectively. For the three months ended June 30, 2023, there were no upward adjustments resulting from observable pricing changes that 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 $1,122 million and $1,201 million as of June 30, 2023 and December 31, 2022, respectively.