PRINCIPAL TRANSACTIONS (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Dec. 31, 2023

Principal transactions revenue

Principal transactions revenue

^[1]

$ 10,235

$ 11,109

$ 8,281

Interest rate risks

Principal transactions revenue

Principal transactions revenue

1,394

1,771

2,045

Foreign exchange risks

Principal transactions revenue

Principal transactions revenue

6,129

5,409

3,851

Equity risks

Principal transactions revenue

Principal transactions revenue

2,119

2,339

1,267

Equity risks | Visa

Principal transactions revenue

Principal transactions revenue

400

Commodity and other risks

Principal transactions revenue

Principal transactions revenue

966

1,374

1,741

Credit products and risks

Principal transactions revenue

Principal transactions revenue

$ (373)

$ 216

$ (623)

[1]

Effective July 1, 2025, gains and losses on certain economic and qualifying hedging derivatives and foreign currency transaction gains and losses related to non-U.S. dollar debt and certain foreign operations in countries with highly inflationary economies with the U.S. dollar as their functional currency, which were previously presented within Other revenue, are presented within Principal transactions. Prior periods were conformed to reflect this change in presentation.