v3.25.1
CONSOLIDATED BALANCE SHEET (UNAUDITED) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Assets:    
Cash and due from banks [1] $ 888 $ 621
Interest bearing deposits with banks [1] 28,414 22,625
Federal funds sold and securities purchased under agreements to resell [1] 10,379 14,313
Trading assets (includes $3.8 billion and $3.6 billion pledged to creditors at March 31, 2025 and December 31, 2024, respectively) [1] 18,670 21,231
Securities available-for-sale (includes amortized cost of $28.1 billion and $27.2 billion at March 31, 2025 and December 31, 2024, respectively, an allowance for credit losses of nil at both March 31, 2025 and December 31, 2024, and $1.4 billion and $0.6 billion pledged to creditors at March 31, 2025 and December 31, 2024, respectively) [1] 26,021 24,937
Securities held-to-maturity, net of allowance for credit losses of nil at both March 31, 2025 and December 31, 2024 (fair value of $17.6 billion and $17.0 billion at March 31, 2025 and December 31, 2024, respectively) [1] 18,139 17,798
Loans (includes $10 million and $11 million designated under fair value option at March 31, 2025 and December 31, 2024, respectively) [1] 63,414 62,753
Less – allowance for credit losses [1] 634 537
Loans, net [1] 62,780 62,216
Loans held for sale (includes $519 million and $395 million designated under fair value option at March 31, 2025 and December 31, 2024, respectively) [1] 594 406
Properties and equipment, net [1] 65 73
Goodwill [1] 458 458
Other assets, net of allowance for credit losses of nil at both March 31, 2025 and December 31, 2024 (includes nil and $16 million designated under fair value option at March 31, 2025 and December 31, 2024, respectively) [1] 6,033 6,053
Total assets [1] 172,441 170,731
Domestic deposits:    
Noninterest bearing [1] 20,303 21,251
Interest bearing (includes $4.9 billion and $4.0 billion designated under fair value option at March 31, 2025 and December 31, 2024, respectively) [1] 98,250 96,656
Foreign deposits - interest bearing [1] 7,171 5,443
Total deposits [1] 125,724 123,350
Short-term borrowings [1] 7,564 7,352
Long-term debt (includes $7.5 billion and $7.9 billion designated under fair value option at March 31, 2025 and December 31, 2024, respectively) [1] 20,668 20,717
Total debt [1] 153,956 151,419
Trading liabilities [1] 2,669 3,907
Interest, taxes and other liabilities (includes nil and $16 million designated under fair value option at March 31, 2025 and December 31, 2024, respectively) [1] 3,020 2,916
Total liabilities [1] 159,645 158,242
Equity    
Preferred stock (no par value; 40,999,000 shares authorized; 265 shares issued and outstanding at both March 31, 2025 and December 31, 2024) 265 265
Common equity:    
Common stock ($5 par value; 150,000,000 shares authorized; 714 shares issued and outstanding at both March 31, 2025 and December 31, 2024) 0 0
Additional paid-in capital 12,720 12,727
Retained earnings 1,470 1,269
Accumulated other comprehensive loss (1,659) (1,772)
Total common equity 12,531 12,224
Total equity 12,796 12,489
Total liabilities and equity $ 172,441 $ 170,731
[1] The following table summarizes assets and liabilities related to our consolidated variable interest entities ("VIEs") at March 31, 2025 and December 31, 2024. Assets and liabilities exclude intercompany balances that eliminate in consolidation. See Note 15, "Variable Interest Entities," for additional information.
March 31, 2025December 31, 2024
(in millions)
Assets
Other assets$9 $11 
Total assets$9 $11 
Liabilities
Interest, taxes and other liabilities$16 $
Total liabilities$16 $