The following table summarizes the components of gain (loss) on instruments designated at fair value and related derivatives reflected in the consolidated statement of income for the three and six months ended June 30, 2025 and 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Loans and Loans Held for Sale | | | | | | Long-Term
Debt | | Hybrid
Instruments | | Total | | (in millions) | | Three Months Ended June 30, 2025 | | | | | | | | | | | | Interest rate and other components(1) | $ | — | | | | | | | $ | (5) | | | $ | (452) | | | $ | (457) | | Credit risk component(2) | (1) | | | | | | | — | | | — | | | (1) | | Total mark-to-market on financial instruments designated at fair value | (1) | | | | | | | (5) | | | (452) | | | (458) | | | Mark-to-market on related derivatives | — | | | | | | | 6 | | | 450 | | | 456 | | | Net realized gain (loss) on related long-term debt derivatives | — | | | | | | | 1 | | | — | | | 1 | | Gain (loss) on instruments designated at fair value and related derivatives | $ | (1) | | | | | | | $ | 2 | | | $ | (2) | | | $ | (1) | | | | | | | | | | | | | | | Three Months Ended June 30, 2024 | | | | | | | | | | | | Interest rate and other components(1) | $ | — | | | | | | | $ | 7 | | | $ | 20 | | | $ | 27 | | Credit risk component(2) | (2) | | | | | | | — | | | — | | | (2) | | Total mark-to-market on financial instruments designated at fair value | (2) | | | | | | | 7 | | | 20 | | | 25 | | | Mark-to-market on related derivatives | — | | | | | | | (8) | | | (27) | | | (35) | | | Net realized gain (loss) on related long-term debt derivatives | — | | | | | | | — | | | — | | | — | | Gain (loss) on instruments designated at fair value and related derivatives | $ | (2) | | | | | | | $ | (1) | | | $ | (7) | | | $ | (10) | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | | | | | | | | | | | Interest rate and other components(1) | $ | — | | | | | | | $ | (21) | | | $ | (264) | | | $ | (285) | | Credit risk component(2) | (8) | | | | | | | — | | | — | | | (8) | | Total mark-to-market on financial instruments designated at fair value | (8) | | | | | | | (21) | | | (264) | | | (293) | | | Mark-to-market on related derivatives | — | | | | | | | 23 | | | 264 | | | 287 | | | Net realized gain (loss) on related long-term debt derivatives | — | | | | | | | 2 | | | — | | | 2 | | Gain (loss) on instruments designated at fair value and related derivatives | $ | (8) | | | | | | | $ | 4 | | | $ | — | | | $ | (4) | | | | | | | | | | | | | | | Six Months Ended June 30, 2024 | | | | | | | | | | | | Interest rate and other components(1) | $ | — | | | | | | | $ | 30 | | | $ | (121) | | | $ | (91) | | Credit risk component(2) | (1) | | | | | | | — | | | — | | | (1) | | Total mark-to-market on financial instruments designated at fair value | (1) | | | | | | | 30 | | | (121) | | | (92) | | | Mark-to-market on related derivatives | — | | | | | | | (35) | | | 98 | | | 63 | | | Net realized gain (loss) on related long-term debt derivatives | — | | | | | | | (1) | | | — | | | (1) | | Gain (loss) on instruments designated at fair value and related derivatives | $ | (1) | | | | | | | $ | (6) | | | $ | (23) | | | $ | (30) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(1)As it relates to hybrid instruments, interest rate and other components primarily includes interest rate and equity contract risks. (2)The fair value movement on fair value option liabilities attributable to our own credit spread is recorded in other comprehensive income (loss).
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