INVESTMENT AND OTHER SECURITIES (Tables)

9 Months Ended

Sep. 30, 2026

Investments, Debt and Equity Securities [Abstract]

Amortized Cost, Fair Value, and Gross Unrealized Gains and Losses by Investment Category

The following tables provide amortized cost, fair value, and gross unrealized gains and losses by

investment category.


		Unrealized
(dollar amounts in millions)	Amortized Cost (1)(2)	Gross Gains	Gross Losses	Fair Value
At September 30, 2026
Available-for-sale securities:
U.S. Treasury	$8,554	$—	$(100)	$8,454
Federal agencies:
Residential MBS	14,004	3	(1,891)	12,116
Residential CMO	6,710	—	(521)	6,189
Commercial MBS	3,330	—	(805)	2,525
Other agencies	451	1	(3)	449
Total U.S. Treasury, federal agency, and other agency securities	33,049	4	(3,320)	29,733
Municipal securities	4,659	1	(193)	4,467
Corporate debt	185	—	(21)	164
Asset-backed securities	168	—	(7)	161
Private-label CMO	98	—	(10)	88
Other securities/sovereign debt	10	—	—	10
Total available-for-sale securities	$38,169	$5	$(3,551)	$34,623

Held-to-maturity securities:
U.S. Treasury	$2,369	$—	$(29)	$2,340
Federal agencies:
Residential MBS	7,497	—	(1,318)	6,179
Residential CMO	3,629	—	(684)	2,945
Commercial MBS	1,204	—	(233)	971
Other agencies	33	—	(3)	30
Total U.S. Treasury, federal agency, and other agency securities	14,732	—	(2,267)	12,465
Municipal securities	1	—	—	1
Total held-to-maturity securities	$14,733	$—	$(2,267)	$12,466

Other securities, at cost:
Non-marketable equity securities:
FRB stock	$884	$—	$—	$884
FHLB stock	426	—	—	426
Other non-marketable equity securities	61	—	—	61
Other securities, at fair value:
Mutual funds	28	—	—	28
Equity securities	34	2	(2)	34
Total other securities	$1,433	$2	$(2)	$1,433

(1)Amortized cost amounts exclude accrued interest receivable, which is recorded within accrued income and other receivables on the Unaudited

Consolidated Balance Sheets. At September 30, 2026, accrued interest receivable on AFS securities and HTM securities totaled $156 million and $40

million, respectively.

(2)Excluded from the amortized cost are portfolio level basis adjustments for securities designated in fair value hedges under the portfolio layer method. The

basis adjustments totaled $515 million and represent a reduction to the amortized cost of the securities being hedged. The securities being hedged under

the portfolio layer method are primarily Residential CMO and Residential MBS securities.


		Unrealized
(dollar amounts in millions)	Amortized Cost (1)(2)	Gross Gains	Gross Losses	Fair Value
At December 31, 2025
Available-for-sale securities:
U.S. Treasury	$4,590	$45	$—	$4,635
Federal agencies:
Residential MBS	11,031	3	(1,365)	9,669
Residential CMO	5,496	9	(308)	5,197
Commercial MBS	2,488	—	(657)	1,831
Other agencies	153	—	(3)	150
Total U.S. Treasury, federal agency, and other agency securities	23,758	57	(2,333)	21,482
Municipal securities	4,215	9	(81)	4,143
Corporate debt	193	—	(15)	178
Asset-backed securities	229	—	(8)	221
Private-label CMO	105	—	(7)	98
Other securities/sovereign debt	10	—	—	10
Total available-for-sale securities	$28,510	$66	$(2,444)	$26,132

Held-to-maturity securities:
U.S. Treasury	$2,349	$19	$—	$2,368
Federal agencies:
Residential MBS	7,718	1	(941)	6,778
Residential CMO	3,865	5	(520)	3,350
Commercial MBS	1,278	—	(184)	1,094
Other agencies	47	—	(2)	45
Total U.S. Treasury, federal agency, and other agency securities	15,257	25	(1,647)	13,635
Municipal securities	1	—	—	1
Total held-to-maturity securities	$15,258	$25	$(1,647)	$13,636

Other securities, at cost:
Non-marketable equity securities:
FRB stock	$616	$—	$—	$616
FHLB stock	288	—	—	288
Other non-marketable equity securities	48	—	—	48
Other securities, at fair value:
Mutual funds	30	—	—	30
Equity securities	12	—	—	12
Total other securities	$994	$—	$—	$994

(1)Amortized cost amounts exclude accrued interest receivable, which is recorded within accrued income and other receivables on the Unaudited

Consolidated Balance Sheets. At December 31, 2025, accrued interest receivable on AFS securities and HTM securities totaled $106 million and $44 million,

respectively.

(2)Excluded from the amortized cost are portfolio level basis adjustments for securities designated in fair value hedges under the portfolio layer method. The

basis adjustments totaled $177 million and represent a reduction to the amortized cost of the securities being hedged. The securities being hedged under

the portfolio layer method are primarily Residential CMO and Residential MBS securities.

Investments by Contractual Maturity

The following table provides the amortized cost and fair value of securities by contractual maturity. Expected

maturities may differ from contractual maturities as issuers may have the right to call or prepay obligations with or

without incurring penalties.


	At September 30, 2026		At December 31, 2025
(dollar amounts in millions)	Amortized Cost	Fair Value	Amortized Cost	Fair Value
Available-for-sale securities:
Under 1 year	$3,421	$3,408	$1,369	$1,365
After 1 year through 5 years	8,684	8,511	5,581	5,595
After 5 years through 10 years	2,327	2,132	1,899	1,784
After 10 years	23,737	20,572	19,661	17,388
Total available-for-sale securities	$38,169	$34,623	$28,510	$26,132

Held-to-maturity securities:
Under 1 year	$704	$702	$603	$604
After 1 year through 5 years	1,721	1,692	1,773	1,791
After 5 years through 10 years	148	135	144	134
After 10 years	12,160	9,937	12,738	11,107
Total held-to-maturity securities	$14,733	$12,466	$15,258	$13,636

Investments with Unrealized Losses by Investment Category

The following tables provide detail on investment securities with unrealized losses aggregated by investment

category and the length of time the individual securities have been in a continuous loss position.


	Less than 12 Months		Over 12 Months		Total
(dollar amounts in millions)	Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
At September 30, 2026
Available-for-sale securities:
U.S. Treasury	$8,111	$(100)	$—	$—	$8,111	$(100)
Federal agencies:
Residential MBS	3,829	(110)	7,972	(1,781)	11,801	(1,891)
Residential CMO	3,948	(89)	2,166	(432)	6,114	(521)
Commercial MBS	756	(16)	1,631	(789)	2,387	(805)
Other agencies	61	(1)	65	(2)	126	(3)
Total U.S. Treasury, federal agency, and other agency securities	16,705	(316)	11,834	(3,004)	28,539	(3,320)
Municipal securities	2,191	(69)	2,020	(124)	4,211	(193)
Corporate debt	—	—	165	(21)	165	(21)
Asset-backed securities	2	—	158	(7)	160	(7)
Private-label CMO	3	—	65	(10)	68	(10)
Total temporarily impaired available-for-sale securities	$18,901	$(385)	$14,242	$(3,166)	$33,143	$(3,551)

Held-to-maturity securities:
U.S. Treasury	$2,143	$(29)	$—	$—	$2,143	$(29)
Federal agencies:
Residential MBS	431	(13)	5,747	(1,305)	6,178	(1,318)
Residential CMO	366	(12)	2,554	(672)	2,920	(684)
Commercial MBS	14	(1)	957	(232)	971	(233)
Other agencies	—	—	30	(3)	30	(3)
Total U.S. Treasury, federal agency, and other agency securities	2,954	(55)	9,288	(2,212)	12,242	(2,267)
Municipal securities	—	—	1	—	1	—
Total temporarily impaired held-to-maturity securities	$2,954	$(55)	$9,289	$(2,212)	$12,243	$(2,267)


	Less than 12 Months		Over 12 Months		Total
(dollar amounts in millions)	Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
At December 31, 2025
Available-for-sale securities:
U.S. Treasury	$—	$—	$439	$—	$439	$—
Federal agencies:
Residential MBS	55	—	9,185	(1,365)	9,240	(1,365)
Residential CMO	51	—	2,665	(308)	2,716	(308)
Commercial MBS	23	—	1,782	(657)	1,805	(657)
Other agencies	15	—	74	(3)	89	(3)
Total U.S. Treasury, federal agency, and other agency securities	144	—	14,145	(2,333)	14,289	(2,333)
Municipal securities	1,043	(14)	1,892	(67)	2,935	(81)
Corporate debt	2	—	176	(15)	178	(15)
Asset-backed securities	9	—	207	(8)	216	(8)
Private-label CMO	—	—	79	(7)	79	(7)
Total temporarily impaired available-for-sale securities	$1,198	$(14)	$16,499	$(2,430)	$17,697	$(2,444)

Held-to-maturity securities:
U.S. Treasury	$—	$—	$289	$—	$289	$—
Federal agencies:
Residential MBS	—	—	6,694	(941)	6,694	(941)
Residential CMO	48	—	2,956	(520)	3,004	(520)
Commercial MBS	—	—	1,094	(184)	1,094	(184)
Other agencies	—	—	45	(2)	45	(2)
Total U.S. Treasury, federal agency, and other agency securities	48	—	11,078	(1,647)	11,126	(1,647)
Municipal securities	—	—	1	—	1	—
Total temporarily impaired held-to-maturity securities	$48	$—	$11,079	$(1,647)	$11,127	$(1,647)