Other Assets

9 Months Ended

Sep. 30, 2023

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


(In millions)	September 30, 2023		December 31, 2022
Securities borrowed(1)	$	24,065	$	16,489
Derivative instruments, net	7,804		7,664
Bank-owned life insurance	3,730		3,649
Collateral, net	3,104		1,833
Investments in joint ventures and other unconsolidated entities(2)	2,840		3,245

Deferred tax assets, net of valuation allowance(3)	1,020		1,127
Right-of-use assets	823		500
Receivable for securities settlement	670		383

Prepaid expenses	610		558
Accounts receivable	472		404

Income taxes receivable	238		235
Deposits with clearing organizations	58		62
Other(4)	1,798		1,753
Total	$	47,232	$	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 $181 million and $179 million as of September 30, 2023 and December 31, 2022, respectively. For both the three and nine months ended September 30, 2023, $5 million of impairments 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 $968 million and $1,201 million as of September 30, 2023 and December 31, 2022, respectivel