v3.25.2
CONSOLIDATED BALANCE SHEET (UNAUDITED) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Assets:    
Cash and due from banks [1] $ 792 $ 621
Interest bearing deposits with banks [1] 28,164 22,625
Federal funds sold and securities purchased under agreements to resell [1] 8,125 14,313
Trading assets (includes $3.9 billion and $3.6 billion pledged to creditors at June 30, 2025 and December 31, 2024, respectively) [1] 20,905 21,231
Securities available-for-sale (includes amortized cost of $31.0 billion and $27.2 billion at June 30, 2025 and December 31, 2024, respectively, an allowance for credit losses of nil at both June 30, 2025 and December 31, 2024, and $1.9 billion and $0.6 billion pledged to creditors at June 30, 2025 and December 31, 2024, respectively) [1] 29,039 24,937
Securities held-to-maturity, net of allowance for credit losses of nil at both June 30, 2025 and December 31, 2024 (fair value of $18.1 billion and $17.0 billion at June 30, 2025 and December 31, 2024, respectively) [1] 18,547 17,798
Loans (includes $9 million and $11 million designated under fair value option at June 30, 2025 and December 31, 2024, respectively) [1] 64,199 62,753
Less – allowance for credit losses [1] 614 537
Loans, net [1] 63,585 62,216
Loans held for sale (includes $419 million and $395 million designated under fair value option at June 30, 2025 and December 31, 2024, respectively) [1] 544 406
Properties and equipment, net [1] 66 73
Goodwill [1] 458 458
Other assets, net of allowance for credit losses of nil at both June 30, 2025 and December 31, 2024 (includes $117 million and $16 million designated under fair value option at June 30, 2025 and December 31, 2024, respectively) [1] 6,142 6,053
Total assets [1] 176,367 170,731
Domestic deposits:    
Noninterest bearing [1] 18,249 21,251
Interest bearing (includes $5.0 billion and $4.0 billion designated under fair value option at June 30, 2025 and December 31, 2024, respectively) [1] 98,961 96,656
Foreign deposits - interest bearing [1] 8,971 5,443
Total deposits [1] 126,181 123,350
Short-term borrowings [1] 8,005 7,352
Long-term debt (includes $8.2 billion and $7.9 billion designated under fair value option at June 30, 2025 and December 31, 2024, respectively) [1] 24,162 20,717
Total debt [1] 158,348 151,419
Trading liabilities [1] 2,942 3,907
Interest, taxes and other liabilities (includes $117 million and $16 million designated under fair value option at June 30, 2025 and December 31, 2024, respectively) [1] 3,067 2,916
Total liabilities [1] 164,357 158,242
Equity    
Preferred stock (no par value; 40,999,000 shares authorized; 265 shares issued and outstanding at both June 30, 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 June 30, 2025 and December 31, 2024) 0 0
Additional paid-in capital 12,718 12,727
Retained earnings 710 1,269
Accumulated other comprehensive loss (1,683) (1,772)
Total common equity 11,745 12,224
Total equity 12,010 12,489
Total liabilities and equity $ 176,367 $ 170,731
[1] The following table summarizes assets and liabilities related to our consolidated variable interest entities ("VIEs") at June 30, 2025 and December 31, 2024. Assets and liabilities exclude intercompany balances that eliminate in consolidation. See Note 15, "Variable Interest Entities," for additional information.
June 30, 2025December 31, 2024
(in millions)
Assets
Other assets$7 $11 
Total assets$7 $11 
Liabilities
Interest, taxes and other liabilities$15 $
Total liabilities$15 $