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Fair Value (Tables)
 9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables present information with respect to our financial assets and liabilities carried at fair value in our consolidated statement of condition on a recurring basis as of the dates indicated:
Fair Value Measurements on a Recurring Basis
As of September 30, 2023
(In millions)Quoted Market
Prices in Active
Markets
(Level 1)		Pricing Methods
with Significant
Observable
Market Inputs
(Level 2)		Pricing Methods
with Significant
Unobservable
Market Inputs
(Level 3)
Impact of Netting(1)
Total Net
Carrying Value
in Consolidated
Statement of
Condition
Assets:
Trading account assets:
U.S. government securities$35 $— $— $35 
Non-U.S. government securities— 133 — 133 
Other— 557 — 557 
Total trading account assets35 690 — 725 
Available-for-sale investment securities:
U.S. Treasury and federal agencies:
Direct obligations7,627 — — 7,627 
Mortgage-backed securities— 9,986 — 9,986 
Total U.S. Treasury and federal agencies7,627 9,986 — 17,613 
Non-U.S. debt securities:
Mortgage-backed securities— 1,541 — 1,541 
Asset-backed securities— 1,890 — 1,890 
Non-U.S. sovereign, supranational and non-U.S. agency— 14,666 — 14,666 
Other— 2,022 — 2,022 
Total non-U.S. debt securities— 20,119 — 20,119 
Asset-backed securities:
Student loans— 118 — 118 
Collateralized loan obligations— 2,640 — 2,640 
Non-agency CMBS and RMBS(2)
— 264 — 264 
Other— 90 — 90 
Total asset-backed securities— 3,112 — 3,112 
State and political subdivisions— 377 — 377 
Other U.S. debt securities— 325 — 325 
Total available-for-sale investment securities7,627 33,919 — 41,546 
Other assets:
Derivative instruments:
Foreign exchange contracts— 20,604 4 $(12,805)7,803 
Interest rate contracts— 1 — — 1 
Total derivative instruments— 20,605 4 (12,805)7,804 
Other7 687 — — 694 
Total assets carried at fair value$7,669 $55,901 $4 $(12,805)$50,769 
Liabilities:
Accrued expenses and other liabilities:
Derivative instruments:
Foreign exchange contracts$2 $20,103 $1 $(15,021)$5,085 
Interest rate contracts1 — — — 1 
Other derivative contracts— 196 — — 196 
Total derivative instruments3 20,299 1 (15,021)5,282 
Total liabilities carried at fair value$3 $20,299 $1 $(15,021)$5,282 
(1) Represents counterparty netting against level 2 financial assets and liabilities where a legally enforceable master netting agreement exists between us and the counterparty. Netting also reflects asset and liability reductions of $1.80 billion and $4.02 billion, respectively, for cash collateral received from and provided to derivative counterparties.
(2) Consists entirely of non-agency CMBS.
Fair Value Measurements on a Recurring Basis
As of December 31, 2022
(In millions)Quoted Market
Prices in Active
Markets
(Level 1)		Pricing Methods
with Significant
Observable
Market Inputs
(Level 2)		Pricing Methods
with Significant
Unobservable
Market Inputs
(Level 3)
Impact of Netting(1)
Total Net
Carrying Value
in Consolidated
Statement of
Condition
Assets:
Trading account assets:
U.S. government securities$40 $— $— $40 
Non-U.S. government securities— 142 — 142 
Other— 468 — 468 
Total trading account assets40 610 — 650 
Available-for-sale investment securities:
U.S. Treasury and federal agencies:
Direct obligations7,981 — — 7,981 
Mortgage-backed securities— 8,509 — 8,509 
Total U.S. Treasury and federal agencies7,981 8,509 — 16,490 
Non-U.S. debt securities:
Mortgage-backed securities— 1,623 — 1,623 
Asset-backed securities— 1,669 — 1,669 
Non-U.S. sovereign, supranational and non-U.S. agency— 14,089 — 14,089 
Other— 2,091 — 2,091 
Total non-U.S. debt securities— 19,472 — 19,472 
Asset-backed securities:
Student loans— 115 — 115 
Collateralized loan obligations— 2,355 — 2,355 
Non-agency CMBS and RMBS(2)
— 231 — 231 
Other— 88 — 88 
Total asset-backed securities— 2,789 — 2,789 
State and political subdivisions— 823 — 823 
Other U.S. debt securities— 1,005 — 1,005 
Total available-for-sale investment securities7,981 32,598 — 40,579 
Other assets:
Derivative instruments:
Foreign exchange contracts9 26,173 4 $(18,522)7,664 
Interest rate contracts— — — — — 
Total derivative instruments9 26,173 4 (18,522)7,664 
Other6 600 — — 606 
Total assets carried at fair value$8,036 $59,981 $4 $(18,522)$49,499 
Liabilities:
Accrued expenses and other liabilities:
Trading account liabilities:
Derivative instruments:
Foreign exchange contracts2 25,745 2 (17,951)7,798 
Interest rate contracts1 — — — 1 
Other derivative contracts— 216 — — 216 
Total derivative instruments3 25,961 2 (17,951)8,015 
Total liabilities carried at fair value$3 $25,961 $2 $(17,951)$8,015 
(1) Represents counterparty netting against level 2 financial assets and liabilities where a legally enforceable master netting agreement exists between us and the counterparty. Netting also reflects asset and liability reductions of $3.30 billion and $2.73 billion, respectively, for cash collateral received from and provided to derivative counterparties.
(2) Consists entirely of non-agency CMBS.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The following tables present activity related to our level 3 financial assets during the three and nine months ended September 30, 2023 and 2022, respectively. Transfers into and out of level 3 are reported as of the beginning of the period presented. During both the three and nine months ended September 30, 2023 and 2022, there were no transfers into and out of level 3.
Fair Value Measurements Using Significant Unobservable Inputs
 Three Months Ended September 30, 2023
 Fair Value as of June 30, 2023
Total Realized and
Unrealized Gains (Losses)(1)
PurchasesSalesSettlements
Transfers into
Level 3
Transfers
out of Level 3
Fair Value 
as of September 30, 2023(1)
Change in Unrealized Gains (Losses) Related to Financial Instruments
Held as of
September 30, 2023
(In millions)
Recorded in Revenue(1)
Recorded in Other Comprehensive Income(1)
Assets:
Other assets:
Derivative instruments:
Foreign exchange contracts$7 $— $— $3 $— $(6)$— $— $4 $— 
Total derivative instruments7 — — 3 — (6)— — 4 — 
Total assets carried at fair value$7 $— $— $3 $— $(6)$— $— $4 $— 
(1) Total realized and unrealized gains (losses) on derivative instruments are included within foreign exchange trading services.
Fair Value Measurements Using Significant Unobservable Inputs
 Nine Months Ended September 30, 2023
 Fair Value as of December 31, 2022
Total Realized and
Unrealized Gains (Losses)(1)
PurchasesSalesSettlements
Transfers into
Level 3
Transfers
out of Level 3
Fair Value 
as of September 30, 2023(1)
Change in Unrealized Gains (Losses) Related to Financial Instruments
Held as of
September 30, 2023
(In millions)
Recorded in Revenue(1)
Recorded in Other Comprehensive Income(1)
Assets:
Other assets:
Derivative instruments:
Foreign exchange contracts$4 $(1)$— $4 $— $(3)$— $— $4 $— 
Total derivative instruments4 (1)— 4 — (3)— — 4 — 
Total assets carried at fair value$4 $(1)$— $4 $— $(3)$— $— $4 $— 
(1) Total realized and unrealized gains (losses) on derivative instruments are included within foreign exchange trading services.
Fair Value Measurements Using Significant Unobservable Inputs
 Three Months Ended September 30, 2022
 Fair Value as of June 30, 2022
Total Realized and
Unrealized Gains (Losses)(1)
PurchasesSalesSettlementsTransfers
into
Level 3		Transfers
out of
Level 3
Fair Value 
as of September 30, 2022(1)
Change in Unrealized Gains (Losses) Related to Financial Instruments
Held as of
September 30, 2022
(In millions)
Recorded
in
Revenue(1)
Recorded
in Other
Comprehensive
Income(1)
Assets:
Other assets:
Derivative instruments:
Foreign exchange contracts$15 $7 $— $5 $— $(12)$— $— $15 $8 
Total derivative instruments15 7 — 5 — (12)— — 15 8 
Total assets carried at fair value$15 $7 $— $5 $— $(12)$— $— $15 $8 
(1) Total realized and unrealized gains (losses) on AFS investment securities are included within gains (losses) related to investment securities, net. Total realized and unrealized gains (losses) on derivative instruments are included within foreign exchange trading services.
Fair Value Measurements Using Significant Unobservable Inputs
 Nine Months Ended September 30, 2022
 Fair Value
as of
December 31,
2021
Total Realized and
Unrealized Gains (Losses)(1)
PurchasesSalesSettlementsTransfers
into
Level 3		Transfers
out of
Level 3
Fair Value 
as of September 30, 2022(1)
Change in Unrealized Gains (Losses) Related to Financial Instruments
Held as of
September 30, 2022
(In millions)
Recorded
in
Revenue(1)
Recorded
in Other
Comprehensive
Income(1)
Assets:
Other assets:
Derivative instruments:
Foreign exchange contracts$— $6 $— $9 $— $— $— $— $15 $6 
Total derivative instruments— 6 — 9 — — — — 15 6 
Total assets carried at fair value$— $6 $— $9 $— $— $— $— $15 $6 
(1) Total realized and unrealized gains (losses) on AFS investment securities are included within gains (losses) related to investment securities, net. Total realized and unrealized gains (losses) on derivative instruments are included within foreign exchange trading services.
Fair Value Inputs, Quantitative Information
The following table presents quantitative information, as of the dates indicated, about the valuation techniques and significant unobservable inputs used in the valuation of our level 3 financial assets and liabilities measured at fair value on a recurring basis for which we use internally-developed pricing models. The significant unobservable inputs for our level 3 financial assets and liabilities whose fair value is measured using pricing information from non-binding broker/dealer quotes are not included in the table, as the specific inputs applied are not provided by the broker/dealer.
Quantitative Information about Level 3 Fair Value Measurements
Fair ValueRangeWeighted-Average
(Dollars in millions)As of September 30, 2023As of December 31, 2022Valuation Technique
Significant Unobservable Input(1)
As of September 30, 2023As of September 30, 2023As of December 31, 2022
Significant unobservable inputs readily available to State Street: 
Assets:
Derivative Instruments, foreign exchange contracts$4 $4 Option modelVolatility5.7 %-13.5%8.6 %11.4 %
Total$4 $4 
Liabilities:
Derivative instruments, foreign exchange contracts$1 $2 Option modelVolatility6.5 %-14.7%8.3 %9.8 %
Total$1 $2 
(1) Significant changes in these unobservable inputs may result in significant changes in fair value measurement of the derivative instrument.
Carrying Value and Estimated Fair Value of Financial Instruments by Fair Value Hierarchy
The following tables present the reported amounts and estimated fair values of the financial assets and liabilities not carried at fair value, as they would be categorized within the fair value hierarchy, as of the dates indicated:
 Fair Value Hierarchy
(In millions)Reported Amount Estimated Fair ValueQuoted Market Prices in Active Markets (Level 1)Pricing Methods with Significant Observable Market Inputs (Level 2) Pricing Methods with Significant Unobservable Market Inputs (Level 3)
September 30, 2023
Financial Assets:    
Cash and due from banks$4,009 4,009 $4,009 $— $— 
Interest-bearing deposits with banks76,756 76,756 — 76,756 — 
Securities purchased under resale agreements1,816 1,816 — 1,816 — 
Investment securities held-to-maturity61,956 54,121 11,457 42,664 — 
Net loans(1)
35,317 35,103 — 33,055 2,048 
Other(2)
6,869 6,869 — 6,869 — 
Financial Liabilities:
Deposits:
   Non-interest-bearing$35,824 $35,824 $— $35,824 $— 
   Interest-bearing - U.S.118,561 118,561 — 118,561 — 
   Interest-bearing - non-U.S.58,616 58,616 — 58,616 — 
Securities sold under repurchase agreements3,097 3,097 — 3,097 — 
Other short-term borrowings8 8 — 8 — 
Long-term debt18,564 17,661 — 17,523 138 
Other(2)
6,869 6,869 — 6,869 — 
(1) Includes $7 million of loans classified as held-for-sale that were measured at fair value in level 2 as of September 30, 2023.
(2) Represents a portion of underlying client assets related to our prime services business, which clients have allowed us to transfer and re-pledge.
Fair Value Hierarchy
(In millions)Reported Amount Estimated Fair ValueQuoted Market Prices in Active Markets (Level 1)Pricing Methods with Significant Observable Market Inputs (Level 2) Pricing Methods with Significant Unobservable Market Inputs (Level 3)
December 31, 2022
Financial Assets:
Cash and due from banks$3,970 $3,970 $3,970 $— $— 
Interest-bearing deposits with banks101,593 101,593 — 101,593 — 
Securities purchased under resale agreements5,215 5,215 — 5,215 — 
Investment securities held-to-maturity64,700 57,913 11,336 46,577 — 
Net loans(1)
32,053 31,794 — 29,679 2,115 
Other(2)
3,626 3,626 — 3,626 — 
Financial Liabilities:
Deposits:
  Non-interest-bearing$46,755 $46,755 $— $46,755 $— 
  Interest-bearing - U.S.111,384 111,384 — 111,384 — 
  Interest-bearing - non-U.S.77,325 77,325 — 77,325 — 
Securities sold under repurchase agreements1,177 1,177 — 1,177 — 
Other short-term borrowings2,097 2,097 — 2,097 — 
Long-term debt14,996 14,273 — 14,102 171 
Other(2)
3,626 3,626 — 3,626 — 
(1) Includes $5 million of loans classified as held-for-sale that were measured at fair value in level 2 as of December 31, 2022.
(2) Represents a portion of underlying client assets related to our prime services business, which clients have allowed us to transfer and re-pledge.