Netting Arrangements (Tables)

12 Months Ended

Dec. 31, 2025

The tables below display information related to derivatives and

securities purchased under agreements to resell, which are subject to an enforceable master netting arrangement or

similar agreement that are either offset or not offset in our consolidated balance sheets.


	As of December 31, 2025
		Gross Amount Offset(1)	Net Amount Presented in our Consolidated Balance Sheets		Amounts Not Offset in our Consolidated Balance Sheets
	Gross Amount	Gross Amount Offset(1)	Net Amount Presented in our Consolidated Balance Sheets		Financial Instruments(2)	Collateral(3)		Net Amount
	(Dollars in millions)
Assets:
OTC risk management derivatives	$277	$(266)	$11		$—		$—	$11
Cleared risk management derivatives	—	67	67		—		—	67
Mortgage commitment derivatives	55	—	55		(24)		(1)	30
Total derivative assets	332	(199)	133	(4)	(24)		(1)	108
Securities purchased under agreements to resell	45,650	—	45,650		—		(45,650)	—
Total assets	$45,982	$(199)	$45,783		$(24)		$(45,651)	$108



Liabilities:
OTC risk management derivatives	$(1,256)	$1,244	$(12)		$—	$10	$(2)
Cleared risk management derivatives	—	(2)	(2)		—	2	—
Mortgage commitment derivatives	(131)	—	(131)		24	101	(6)
Total liabilities	$(1,387)	$1,242	$(145)	(4)	$24	$113	$(8)


	As of December 31, 2024
		Gross Amount Offset(1)	Net Amount Presented in our Consolidated Balance Sheets		Amounts Not Offset in our Consolidated Balance Sheets
	Gross Amount	Gross Amount Offset(1)	Net Amount Presented in our Consolidated Balance Sheets		Financial Instruments(2)	Collateral(3)		Net Amount
	(Dollars in millions)
Assets:
OTC risk management derivatives	$401	$(383)	$18		$—		$—	$18
Cleared risk management derivatives	—	21	21		—		—	21
Mortgage commitment derivatives	112	—	112		(91)		(14)	7
Total derivative assets	513	(362)	151	(4)	(91)		(14)	46
Securities purchased under agreements to resell	56,250	—	56,250		—		(56,250)	—
Total assets	$56,763	$(362)	$56,401		$(91)		$(56,264)	$46

Liabilities:
OTC risk management derivatives	$(2,368)	$2,368	$—		$—		$—	$—
Cleared risk management derivatives	—	(1)	(1)		—		1	—
Mortgage commitment derivatives	(137)	—	(137)		91		9	(37)
Total liabilities	$(2,505)	$2,367	$(138)	(4)	$91		$10	$(37)

(1)Represents the effect of the right to offset under legally enforceable master netting arrangements to settle with the same counterparty on a

net basis, including cash collateral posted and received and accrued interest.

(2)Mortgage commitment derivative amounts reflect where we have recognized both an asset and a liability with the same counterparty under

an enforceable master netting arrangement but we have not elected to offset the related amounts in our consolidated balance sheets.

(3)Represents collateral received that has not been recognized and not offset in our consolidated balance sheets as well as collateral posted

which has been recognized but not offset in our consolidated balance sheets. Does not include collateral held or posted in excess of our

exposure.

(4)Excludes derivative assets recognized in our consolidated balance sheets of $44 million and $28 million as of December 31, 2025 and

2024, respectively, and derivative liabilities recognized in our consolidated balance sheets of $7 million and $16 million as of December 31,

2025 and 2024, respectively, that were not subject to enforceable master netting arrangements.