v3.25.1
Securities Financing Activities (Tables)
 3 Months Ended
Mar. 31, 2025
Offsetting [Abstract]  
Offsetting Assets The following table presents the Company's securities financing transactions, including those executed under master netting (or similar) arrangements. Refer to "Note 16. Derivative Financial Instruments" for information about the Company's derivative instruments subject to master netting (or similar) arrangements.
March 31, 2025December 31, 2024
(Dollars in millions)
Amount in Consolidated Balance Sheets(1)
Received/Pledged Financial Instruments(2)
Net Amount
Amount in Consolidated Balance Sheets(1)
Received/Pledged Financial Instruments(2)
Net Amount
Assets:
Securities purchased under agreements to resell$1,470 $(1,464)$6 $1,322 $(1,313)$9 
Securities borrowed1,340 (1,306)34 1,228 (1,192)36 
Total securities borrowed or purchased under agreements to resell$2,810 $(2,770)$40 $2,550 $(2,505)$45 
Liabilities:
Securities sold under agreements to repurchase$(2,778)$2,778 $— $(9,675)$9,675 $— 
(1)There were no securities financing transactions subject to legally enforceable master netting arrangements that were eligible for balance sheet netting for the periods presented.
(2)The fair value of received/pledged financial instruments is limited to the carrying amount of the associated asset or liability. The fair value of collateral received that was permitted to be sold or repledged was $2.8 billion as of March 31, 2025 and $2.5 billion as of December 31, 2024. Of the fair value of collateral permitted to be resold or repledged, the fair value of securities repledged or resold was $2.1 billion as of March 31, 2025 and $1.6 billion as of December 31, 2024.
Schedule of Repurchase Agreements
The following table presents additional information related to the Company’s securities sold under agreements to repurchase, by collateral type and remaining contractual maturity:

March 31, 2025December 31, 2024
(Dollars in millions)Overnight and ContinuousUp to 30 days30-90 daysTotalOvernight and ContinuousUp to 30 days30-90 daysTotal
U.S. Treasury$— $100 $503 $603 $— $2,445 $300 $2,745 
State and Municipal
337 14 — 351 350 100 — 450 
Agency MBS – residential
— 1,000 — 1,000 — 5,750 — 5,750 
Corporate and other debt securities563 261 — 824 450 280 — 730 
Total securities sold under agreements to repurchase$900 $1,375 $503 $2,778 $800 $8,575 $300 $9,675