v3.26.1
Securities (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Fair Value of the Securities Available-for-Sale and Held-to-Maturity
Our securities available-for-sale and securities held-to-maturity portfolios consisted of the following:
June 30, 2026Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
(in millions)
Securities available-for-sale:
U.S. Treasury$15,519 $13 $(145)$15,387 
U.S. Government sponsored enterprises(1)
4,430 2 (805)3,627 
U.S. Government agency issued or guaranteed(1)
9,920 18 (804)9,134 
Asset-backed securities collateralized by:
Home equity mortgages8 — — 8 
Corporate loans208 — — 208 
Other79 — (8)71 
Foreign debt securities(2)
4,372 11 (1)4,382 
Total available-for-sale securities$34,536 $44 $(1,763)$32,817 
Securities held-to-maturity:
U.S. Treasury$5,980 $4 $(71)$5,913 
U.S. Government sponsored enterprises(1)
1,014 2 (54)962 
U.S. Government agency issued or guaranteed(1)
13,493 63 (312)13,244 
Obligations of U.S. states and political subdivisions2 — — 2 
Total held-to-maturity securities$20,489 $69 $(437)$20,121 
December 31, 2025Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
(in millions)
Securities available-for-sale:
U.S. Treasury$13,895 $32 $(107)$13,820 
U.S. Government sponsored enterprises(1)
4,603 2 (808)3,797 
U.S. Government agency issued or guaranteed(1)
8,750 11 (752)8,009 
Asset-backed securities collateralized by:
Home equity mortgages8 — — 8 
Corporate loans179 — — 179 
Other85 — (9)76 
Foreign debt securities(2)
4,131 11 (1)4,141 
Total available-for-sale securities$31,651 $56 $(1,677)$30,030 
Securities held-to-maturity:
U.S. Treasury$2,846 $7 $(4)$2,849 
U.S. Government sponsored enterprises(1)
1,062 3 (47)1,018 
U.S. Government agency issued or guaranteed(1)
14,383 130 (245)14,268 
Obligations of U.S. states and political subdivisions2 — — 2 
Total held-to-maturity securities$18,293 $140 $(296)$18,137 
(1)U.S. Government sponsored and U.S. Government agency securities primarily represent mortgage-backed securities, including collateralized mortgage obligations.
(2)Foreign debt securities primarily represent debt issued by public sector development banks and governments.
Gross Unrealized Losses and Related Fair Value The following table summarizes gross unrealized losses and related fair values for securities available-for-sale by major security type classified as to the length of time the losses have existed:
One Year or LessGreater Than One Year
Gross
Unrealized
Losses		Aggregate
Fair Value
of Investment		Gross
Unrealized
Losses		Aggregate
Fair Value
of Investment
(in millions)
At June 30, 2026
U.S. Treasury$(21)$4,540 $(124)$3,148 
U.S. Government sponsored enterprises— — (805)3,422 
U.S. Government agency issued or guaranteed(9)2,080 (795)5,949 
Asset-backed securities— — (8)103 
Foreign debt securities(1)1,625 — — 
Securities available-for-sale$(31)$8,245 $(1,732)$12,622 
At December 31, 2025
U.S. Treasury$— $— $(107)$3,419 
U.S. Government sponsored enterprises— — (808)3,592 
U.S. Government agency issued or guaranteed— 50 (752)6,313 
Asset-backed securities— 129 (9)85 
Foreign debt securities(1)1,541 — — 
Securities available-for-sale$(1)$1,720 $(1,676)$13,409 
Realized Gains and Losses on Investment Securities Transactions Attributable to Available-for-Sale Securities The following table summarizes realized gains and losses on investment securities transactions attributable to available-for-sale securities:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(in millions)
Gross realized gains$9 $7 $20 $10 
Gross realized losses— (1)— (1)
Net realized gains$9 $6 $20 $9 
Distribution of Maturities of Debt Securities with the Approximate Yield of the Portfolio The table below also reflects the distribution of maturities of debt securities held at June 30, 2026, together with the approximate yield of the portfolio. The yields shown are calculated by dividing annualized interest income, including the accretion of discounts and the amortization of premiums, by the amortized cost of securities outstanding at June 30, 2026.
Within
One Year		After One
But Within
Five Years		After Five
But Within
Ten Years		After Ten
Years
AmountYieldAmountYieldAmountYieldAmountYield
(dollars are in millions)
Available-for-sale:
U.S. Treasury$118 1.67 %$9,381 3.67 %$3,663 4.10 %$2,357 3.36 %
U.S. Government sponsored enterprises
58 1.88 289 1.68 1 2.61 4,082 1.85 
U.S. Government agency issued or guaranteed
— — — — 58 3.13 9,862 3.41 
Asset-backed securities— — 33 4.35 46 3.88 216 4.98 
Foreign debt securities1,635 1.12 1,857 4.05 840 4.20 40 4.64 
Total amortized cost$1,811 1.18 %$11,560 3.68 %$4,608 4.10 %$16,557 3.04 %
Total fair value$1,810 $11,538 $4,611 $14,858 
Held-to-maturity:
U.S. Treasury$114 4.03 %$3,222 3.69 %$2,644 4.07 %$— — %
U.S. Government sponsored enterprises
— — 172 2.94 561 3.65 281 2.91 
U.S. Government agency issued or guaranteed
— — — — 7 6.06 13,486 4.69 
Obligations of U.S. states and political subdivisions
— — 2 3.47 — — — — 
Total amortized cost$114 4.03 %$3,396 3.65 %$3,212 4.00 %$13,767 4.65 %
Total fair value$114 $3,350 $3,160 $13,497 
Equity Securities Not Classified as Trading Equity securities that are not classified as trading and are included in other assets consisted of the following:
June 30, 2026December 31, 2025
(in millions)
Equity securities carried at fair value$256 $243 
Equity securities without readily determinable fair values19 17