v3.26.1
Pledged Assets and Collateral
 3 Months Ended
Mar. 31, 2026
Financial Instruments Pledged as Collateral [Abstract]  
Pledged Assets and Collateral
Note 15:  Pledged Assets and Collateral
Pledged Assets
We pledge financial assets that we own to counterparties for the collateralization of securities and other collateralized financing activities, to secure trust and public deposits, and to collateralize derivative contracts. See Note 14 (Securities Financing Activities) for additional information on securities financing activities. As part of our liquidity management strategy, we may also pledge assets to secure borrowings and letters of credit from Federal Home Loan Banks (FHLBs), to maintain potential borrowing capacity with FHLBs and at the discount window of the Board of Governors of the Federal Reserve System (FRB), and for other purposes as required or permitted by law or insurance statutory requirements. The collateral that we pledge may include our own collateral as well as collateral that we have received from third parties and have the right to repledge.

Table 15.1 provides the carrying values of assets recognized on our consolidated balance sheet that we have pledged to third parties. Assets pledged in transactions where our counterparty has the right to sell or repledge those assets are presented parenthetically on our consolidated balance sheet.

VIE RELATED. We also pledge assets in connection with various types of transactions entered into with VIEs, which are excluded from Table 15.1. These pledged assets can only be used to settle the liabilities of those entities. We also have loans recognized on our consolidated balance sheet which represent certain delinquent loans that are eligible for repurchase from GNMA loan securitizations. See Note 12 (Securitizations and Variable Interest Entities) for additional information on consolidated and unconsolidated VIE assets.
Table 15.1: Pledged Assets
(in millions)
Mar 31,
2026		Dec 31,
2025
Pledged to counterparties that had the right to sell or repledge:
Trading assets$149,500 145,519 
Available-for-sale debt securities— 563 
Loans1,136 1,161 
Total assets pledged to counterparties that had the right to sell or repledge150,636 147,243 
Pledged to counterparties that did not have the right to sell or repledge:
Trading assets6,574 6,953 
Available-for-sale debt securities158,729 150,765 
Held-to-maturity debt securities187,826 189,730 
Loans585,044 524,290 
All other assets947 1,183 
Total assets pledged to counterparties that did not have the right to sell or repledge939,120 872,921 
Total pledged assets$1,089,756 1,020,164 
Collateral Accepted
We receive financial assets as collateral that we are permitted to sell or repledge. This collateral is obtained in connection with securities purchased under resale agreements and securities borrowing transactions, customer margin loans, and derivative contracts. We may use this collateral in connection with securities sold under repurchase agreements and securities lending transactions, derivative contracts, and short sales. At March 31, 2026, and December 31, 2025, the fair value of this collateral received that we have the right to sell or repledge was $541.2 billion and $469.2 billion, respectively, of which $384.3 billion and $309.3 billion, respectively, were sold or repledged.