STATE STREET CORP, 10-K filed on 2/19/2026
Annual Report
v3.25.4
Cover Page - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Jan. 30, 2026
Jun. 30, 2025
Entity Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-07511    
Entity Registrant Name STATE STREET CORPORATION    
Entity Incorporation, State or Country Code MA    
Entity Tax Identification Number 04-2456637    
Entity Address, Address Line One One Congress Street    
Entity Address, City or Town Boston,    
Entity Address, State or Province MA    
Entity Address, Postal Zip Code 02114    
City Area Code (617)    
Local Phone Number 786-3000    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 30,310
Entity Common Stock, Shares Outstanding   278,728,211  
Documents Incorporated by Reference
Portions of the following documents are incorporated by reference into Parts of this Report on Form 10-K, to the extent noted in such Parts, as indicated below:
(1) The registrant’s definitive Proxy Statement for the 2026 Annual Meeting of Shareholders to be filed pursuant to Regulation 14A on or before April 30, 2026 (Part III).
    
Entity Central Index Key 0000093751    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Amendment Flag false    
Common Stock, $1 par value per share      
Entity Information [Line Items]      
Title of 12(b) Security Common Stock, $1 par value per share    
Trading Symbol STT    
Security Exchange Name NYSE    
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G, without par value per share      
Entity Information [Line Items]      
Title of 12(b) Security Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G, without par value per share    
Trading Symbol STT.PRG    
Security Exchange Name NYSE    
v3.25.4
Audit Information
 12 Months Ended
Dec. 31, 2025
Auditor Information [Abstract]  
Auditor Name Ernst & Young LLP
Auditor Firm ID 42
Auditor Location Boston, Massachusetts
v3.25.4
Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Fee revenue:      
Servicing fees $ 5,324 $ 5,016 $ 4,922
Management fees 2,398 2,124 1,876
Foreign exchange trading services 1,614 1,401 1,265
Securities finance 505 438 426
Software and processing fees 903 888 811
Other fee revenue 236 289 180
Total fee revenue 10,980 10,156 9,480
Net interest income:      
Interest income 11,644 11,977 9,180
Interest expense 8,684 9,054 6,421
Net interest income 2,960 2,923 2,759
Other income:      
Gains (losses) from sales of available-for-sale securities, net 4 (79) (294)
Total other income 4 (79) (294)
Total revenue 13,944 13,000 11,945
Provision for credit losses 59 75 46
Expenses:      
Compensation and employee benefits 5,035 4,697 4,744
Information systems and communications 2,094 1,829 1,703
Transaction processing services 1,050 998 957
Occupancy 487 437 426
Other 1,488 1,569 1,753
Total expenses 10,154 9,530 9,583
Income before income tax expense 3,731 3,395 2,316
Income tax expense 786 708 372
Net income 2,945 2,687 1,944
Net income available to common shareholders -basic 2,717 2,483 1,821
Net income available to common shareholders - diluted $ 2,717 $ 2,483 $ 1,821
Earnings per common share:      
Basic (in USD per share) $ 9.55 $ 8.33 $ 5.65
Diluted (in USD per share) $ 9.40 $ 8.21 $ 5.58
Average common shares outstanding (in thousands):      
Basic (in shares) 284,545 297,883 322,337
Diluted (in shares) 289,019 302,226 326,568
Cash dividends declared (in USD per share) $ 3.20 $ 2.90 $ 2.64
v3.25.4
Consolidated Statement of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net income $ 2,945 $ 2,687 $ 1,944
Other comprehensive income (loss), net of related taxes:      
Foreign currency translation, net of related taxes of $(200), $153 and $(19), respectively 592 (228) 261
Net unrealized gains on investment securities, net of reclassification adjustment and net of related taxes of $108, $164 and $335, respectively 329 467 870
Net unrealized gains (losses) on cash flow hedges, net of related taxes of $30, $0 and $85, respectively 99 (1) 228
Net unrealized gains (losses) on retirement plans, net of related taxes of $14, $6 and $0, respectively 37 16 (2)
Other comprehensive income 1,057 254 1,357
Total comprehensive income $ 4,002 $ 2,941 $ 3,301
v3.25.4
Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Foreign currency translation taxes $ (200) $ 153 $ (19)
Change in net unrealized gains (losses) on available-for-sale securities taxes 108 164 335
Change in net unrealized gains (losses) on cash flow hedges taxes 30 0 85
Change in unrealized gains (losses) on retirement plans taxes $ 14 $ 6 $ 0
v3.25.4
Consolidated Statement of Condition - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Assets:    
Cash and due from banks $ 4,433 $ 3,145
Interest-bearing deposits with banks 126,930 112,957
Securities purchased under resale agreements 6,812 6,679
Trading account assets 827 768
Investment securities available-for-sale 67,154 58,895
Investment securities held-to-maturity (fair value of $34,166 and $41,906) 38,171 47,727
Loans (less allowance for credit losses on loans of $193 and $174) 46,589 43,026
Premises and equipment (net of accumulated depreciation of $7,046 and $6,461) 3,174 2,715
Accrued interest and fees receivable 4,395 4,034
Goodwill 8,159 7,691
Other intangible assets 935 1,089
Other assets 58,468 64,514
Total assets 366,047 353,240
Deposits:    
Non-interest-bearing 35,267 33,180
Interest-bearing - U.S. 168,079 166,483
Interest-bearing - non-U.S. 71,004 62,257
Total deposits 274,350 261,920
Securities sold under repurchase agreements 841 3,681
Other short-term borrowings 3,821 9,840
Accrued expenses and other liabilities 34,051 29,201
Long-term debt 25,143 23,272
Total liabilities 338,206 327,914
Commitments, guarantees and contingencies (Notes 12 and 13)
Shareholders’ equity:    
Common stock 504 504
Surplus 10,705 10,722
Retained earnings 31,392 29,582
Accumulated other comprehensive income (loss) (1,043) (2,100)
Treasury stock, at cost (224,801,735 and 215,113,190 shares) (17,276) (16,198)
Total shareholders’ equity 27,841 25,326
Total liabilities and shareholders’ equity 366,047 353,240
Series G Preferred Stock    
Shareholders’ equity:    
Preferred stock 493 493
Series I Preferred Stock    
Shareholders’ equity:    
Preferred stock 1,481 1,481
Series J Preferred Stock    
Shareholders’ equity:    
Preferred stock 842 842
Series K Preferred Stock    
Shareholders’ equity:    
Preferred stock $ 743 $ 0
v3.25.4
Consolidated Statement of Condition (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Assets:    
Investment securities held-to-maturity $ 34,166 $ 41,906
Allowance for credit losses 193 174
Accumulated depreciation $ 7,046 $ 6,461
Shareholders’ equity:    
Preferred stock, no par value (in USD per share) $ 0 $ 0
Preferred stock authorized (in shares) 3,500,000 3,500,000
Common stock, par value (in USD per share) $ 1 $ 1
Common stock, shares authorized (in shares) 750,000,000 750,000,000
Common stock, shares issued (in shares) 503,879,642 503,879,642
Common stock, shares outstanding (in shares) 279,077,907 288,766,452
Treasury stock, shares (in shares) 224,801,735 215,113,190
Series G Preferred Stock    
Shareholders’ equity:    
Preferred stock, shares issued (in shares) 5,000  
Preferred stock, shares outstanding (in shares) 5,000  
Series I Preferred Stock    
Shareholders’ equity:    
Preferred stock, shares issued (in shares) 15,000 15,000
Preferred stock, shares outstanding (in shares) 15,000 15,000
Series J Preferred Stock    
Shareholders’ equity:    
Preferred stock, shares issued (in shares) 8,500 8,500
Preferred stock, shares outstanding (in shares) 8,500 8,500
Series K Preferred Stock    
Shareholders’ equity:    
Preferred stock, shares issued (in shares) 7,500 7,500
Preferred stock, shares outstanding (in shares) 7,500 7,500
v3.25.4
Consolidated Statement of Changes in Shareholders' Equity - USD ($)
$ in Millions
Total
Preferred Stock
Common Stock
Surplus
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Treasury Stock
Beginning balance at Dec. 31, 2022 $ 25,191 $ 1,976 $ 504 $ 10,730 $ 27,028 $ (3,711) $ (11,336)
Beginning balance ( in shares) at Dec. 31, 2022     503,880,000        
Treasury stock, beginning balance (in shares) at Dec. 31, 2022             154,855,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 1,944       1,944    
Other comprehensive income (loss) 1,357         1,357  
Common stock dividends (837)       (837)    
Preferred stock cash dividend (122)       (122)    
Common stock acquired (in shares)             49,212,000
Common stock acquired (3,837)           $ (3,837)
Common stock awards exercised (in shares)             (2,133,000)
Common stock awards exercised 159     11     $ 148
Other (in shares)             2,000
Other (56)       (56)    
Ending balance at Dec. 31, 2023 23,799 1,976 $ 504 10,741 27,957 (2,354) $ (15,025)
Ending balance (in shares) at Dec. 31, 2023     503,880,000        
Treasury stock, ending balance (in shares) at Dec. 31, 2023             201,936,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 2,687       2,687    
Other comprehensive income (loss) 254         254  
Common stock issued 2,323 2,323          
Preferred stock redeemed (1,500) (1,483)     (17)    
Common stock dividends (859)       (859)    
Preferred stock cash dividend (185)       (185)    
Common stock acquired (in shares)             15,135,000
Common stock acquired (1,312)           $ (1,312)
Common stock awards exercised (in shares)             (1,950,000)
Common stock awards exercised 118     (21)     $ 139
Other (in shares)             (8,000)
Other 1     2 (1)    
Ending balance at Dec. 31, 2024 $ 25,326 2,816 $ 504 10,722 29,582 (2,100) $ (16,198)
Ending balance (in shares) at Dec. 31, 2024     503,880,000        
Treasury stock, ending balance (in shares) at Dec. 31, 2024 215,113,190           215,113,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income $ 2,945       2,945    
Other comprehensive income (loss) 1,057         1,057  
Common stock issued 743 743          
Common stock dividends (909)       (909)    
Preferred stock cash dividend (226)       (226)    
Common stock acquired (in shares)             11,533,000
Common stock acquired (1,212)           $ (1,212)
Common stock awards exercised (in shares)             (1,836,000)
Common stock awards exercised 115     (18)     $ 133
Other (in shares)             (8,000)
Other 2     1 0   $ 1
Ending balance at Dec. 31, 2025 $ 27,841 $ 3,559 $ 504 $ 10,705 $ 31,392 $ (1,043) $ (17,276)
Ending balance (in shares) at Dec. 31, 2025     503,880,000        
Treasury stock, ending balance (in shares) at Dec. 31, 2025 224,801,735           224,802,000
v3.25.4
Consolidated Statement of Changes in Shareholders' Equity (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]      
Cash dividends declared (in USD per share) $ 3.20 $ 2.90 $ 2.64
v3.25.4
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Activities:      
Net income $ 2,945 $ 2,687 $ 1,944
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred income tax (benefit) (89) 145 (184)
Amortization of other intangible assets 223 230 239
Other non-cash adjustments for depreciation, amortization and accretion, net 331 375 643
(Gains) losses related to investment securities, net (4) 79 294
Provision for credit losses 59 75 46
Change in trading account assets, net (59) 5 (123)
Change in accrued interest and fees receivable, net (350) (224) (359)
Change in collateral deposits, net 6,611 (12,109) (2,246)
Change in unrealized losses (gains) on foreign exchange derivatives, net 5,512 (7,191) 2,146
Change in other assets, net (2,524) 1,672 (1,839)
Change in accrued expenses and other liabilities, net (1,167) 743 (128)
Other, net 410 303 257
Net cash provided by (used in) operating activities 11,898 (13,210) 690
Investing Activities:      
Net (increase) decrease in interest-bearing deposits with banks (12,998) (25,292) 13,928
Net (increase) decrease in securities purchased under resale agreements (133) 13 (1,477)
Proceeds from sales of available-for-sale securities 15,999 10,973 4,917
Proceeds from maturities of available-for-sale securities 29,040 18,517 15,703
Purchases of available-for-sale securities (50,245) (44,301) (23,089)
Proceeds from maturities of held-to-maturity securities 9,858 9,330 9,474
Purchases of held-to-maturity securities 0 (5) (1,582)
Sale of loans 1,068 246 506
Net increase in loans (3,719) (7,369) (4,746)
Business acquisitions, net of cash acquired (286) (194) (61)
Purchases of equity investments and other long-term assets (1,164) (143) (136)
Purchases of premises and equipment, net (1,055) (926) (816)
Other, net 644 (332) 117
Net cash (used in) provided by investing activities (12,991) (39,483) 12,738
Financing Activities:      
Net (decrease) increase in time deposits (3,108) (19) 2,820
Net increase (decrease) in all other deposits 14,471 40,971 (17,311)
Net (decrease) increase in securities sold under repurchase agreements (2,840) 1,814 690
Net (decrease) increase in other short-term borrowings (6,018) 6,180 1,563
Proceeds from issuance of long-term debt, net of issuance costs 5,722 6,523 6,221
Payments for long-term debt and obligations under finance leases (4,143) (2,046) (2,545)
Payments for redemption of preferred stock 0 (1,500) 0
Proceeds from issuance of preferred stock, net of issuance costs 743 2,323 0
Repurchases of common stock (1,200) (1,319) (3,781)
Repurchases of common stock for employee tax withholding (106) (83) (95)
Payments for cash dividends (1,120) (1,033) (970)
Other, net (20) (20) 57
Net cash provided by (used in) financing activities 2,381 51,791 (13,351)
Net increase (decrease) 1,288 (902) 77
Cash and due from banks at beginning of period 3,145 4,047 3,970
Cash and due from banks at end of period 4,433 3,145 4,047
Supplemental disclosure:      
Interest paid 8,805 8,951 6,184
Income taxes paid, net $ 594 $ 451 $ 423
v3.25.4
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Basis of Presentation
The accounting and financial reporting policies of State Street Corporation conform to U.S. GAAP. State Street Corporation, the Parent Company, is a financial holding company headquartered in Boston, Massachusetts. Unless otherwise indicated or unless the context requires otherwise, all references in these notes to consolidated financial statements to “State Street,” “we,” “us,” “our” or similar references mean State Street Corporation and its subsidiaries on a consolidated basis, including our principal banking subsidiary, State Street Bank.
We have two lines of business:
Investment Servicing provides a broad range of investment servicing and market and financing solutions to institutional clients, including mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, wealth managers, investment managers, foundations and endowments worldwide.
Through State Street Investment Services and State Street Markets, we offer a full range of back-, middle- and front-office solutions, including custody, accounting and fund administration services for traditional and alternative assets, as well as multi-asset class investments; recordkeeping, client reporting and investment book of record, transaction management, loans, cash, derivatives and collateral services; investor services operations outsourcing; performance, risk and compliance analytics; financial data management to support institutional investors; foreign exchange, brokerage and other trading services; securities finance, including prime services products; and deposit and short-term investment facilities.
Together with our back- and middle-office services, CRD’s front- and middle-office technology offerings form the foundation of State Street Alpha. Our State Street Alpha platform combines portfolio management, trading and execution, analytics and compliance tools, along with advanced data aggregation and integration with other industry platforms and providers. Included in CRD’s technology offerings are Charles River Investment Management Solution, a front-office technology offering that automates and simplifies the institutional investment process across asset classes, from portfolio management and risk analytics through trading and post-trade settlement, with integrated compliance and managed data throughout; Charles River for Private Markets, an investment management solution for institutions investing in Private Credit, Private Equity, Real Estate,
Infrastructure, and Funds; and Charles River Wealth Management Solution, which provides portfolio management, trading compliance and manager/sponsor communication capabilities to wealth managers, private banks and financial advisors.
Investment Management provides a comprehensive range of investment management solutions and products for our clients through State Street Investment Management (previously State Street Global Advisors). Our investment management solutions span across equity, fixed income, liquidity and cash, multi-asset and alternatives strategies, delivered through products such as ETFs, custom indexed, and actively managed funds and mandates.
Consolidation
Our consolidated financial statements include the accounts of the Parent Company and its majority- and wholly-owned and otherwise controlled subsidiaries, including State Street Bank. All material inter-company transactions and balances have been eliminated. Certain previously reported amounts have been reclassified to conform to current-year presentation.
We consolidate subsidiaries in which we exercise control. Equity investments where we have the ability to exercise significant influence over the operations of the investee are generally accounted for under the equity method of accounting and are recorded in other assets. Income or losses from investments accounted for under the equity method are recorded in other fee revenue in our consolidated statement of income. Equity investments that do not meet the criteria for equity-method treatment are measured at fair value through earnings, except for investments in low-income housing and production tax credit entities (see Note 14 for further information) or where one of two U.S. GAAP exceptions applies. The first exception allows Federal Reserve Bank stock, Federal Home Loan Bank stock and exchange memberships to remain accounted for at cost, less impairment. The second exception is for equity investments where fair market value is not readily available, which are accounted for at cost, less impairment, adjusted for any observable price changes in orderly transactions for the identical or a similar investment of the same issuer, with any such changes reflected in other fee revenue.
Use of Estimates
The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions in the application of certain of our significant accounting policies that may materially affect the reported amounts of assets, liabilities, equity, revenue and expenses. As a result of unanticipated events or
circumstances, actual results could differ from those estimates.
Foreign Currency Translation
The assets and liabilities of our operations with functional currencies other than the U.S. dollar are translated at month-end exchange rates, and revenue and expenses are translated at rates that approximate average monthly exchange rates. Gains or losses from the translation of the net assets of subsidiaries with functional currencies other than the U.S. dollar, net of related taxes, are recorded in AOCI, a component of shareholders’ equity.
Cash and Cash Equivalents
For purposes of the consolidated statement of cash flows, cash and cash equivalents are defined as cash and due from banks.
Sanctions programs or government intervention may inhibit our ability to access cash and due from banks in certain accounts. For example, as of December 31, 2025 and 2024, we held such accounts in Russia that were subject to sanctions restrictions, inclusive of $1.6 billion and $0.8 billion, respectively, with our subcustodian, and with western European-based clearing agencies, for a total of approximately $2.4 billion and $1.3 billion, respectively. Cash and due from banks is evaluated as part of our allowance for credit losses.
Interest-Bearing Deposits with Banks
Interest-bearing deposits with banks generally consist of highly liquid, short-term investments maintained at the Federal Reserve Bank and other non-U.S. central banks with original maturities at the time of purchase of one month or less.
Securities Purchased Under Resale Agreements and Securities Sold Under Repurchase Agreements
Securities purchased under resale agreements and sold under repurchase agreements are accounted for as collateralized financing transactions, and are recorded in our consolidated statement of condition at the amounts at which the securities will be subsequently resold or repurchased, plus accrued interest. Our policy is to take possession or control of securities underlying resale agreements either directly or through agent banks, allowing borrowers the right of collateral substitution and/or short-notice termination. We revalue these securities daily to determine if additional collateral is necessary from the borrower to protect us against credit exposure. We
can use these securities as collateral for repurchase agreements.
For securities sold under repurchase agreements collateralized by our investment securities portfolio, the dollar value of the securities remains in investment securities in our consolidated statement of condition. Where a master netting agreement exists or when both parties are members of a common clearing organization, resale and repurchase agreements are recorded on a net basis when specific netting criteria are met.
Fee and Net Interest Income
The majority of fees from investment servicing, investment management, securities finance, trading services and certain types of software and processing fees are recorded in our consolidated statement of income based on the consideration specified in contracts with our customers, and excludes taxes collected from customers subsequently remitted to governmental authorities. We recognize revenue as the services are performed or at a point in time depending on the nature of the services provided. Payments made to third party service providers are generally recognized on a gross basis when we control those services and are deemed to be the principal. Additional information about revenue from contracts with customers is provided in Note 25.
Interest income on interest-earning assets and interest expense on interest-bearing liabilities are recorded in our consolidated statement of income as components of NII, and are generally based on the effective yield of the related financial asset or liability.
Other Significant Policies
The following table identifies our other significant accounting policies and the note and page where a detailed description of each policy can be found:
Fair ValueNote2Page
Investment SecuritiesNote3Page
Loans and Allowance for Credit LossesNote4Page
Goodwill and Other Intangible AssetsNote5Page
Derivative Financial InstrumentsNote10Page
Offsetting ArrangementsNote11Page
ContingenciesNote13Page
Variable Interest EntitiesNote14Page
Equity-Based CompensationNote18Page
Income TaxesNote22Page
Earnings Per Common ShareNote23Page
Revenue from Contracts with CustomersNote25Page
Recent Accounting Developments
Relevant standards that were adopted during the year ended December 31, 2025:
We adopted ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, prospectively for the annual reporting period ending December 31, 2025. The standard aims to improve transparency and comparability of income tax disclosures primarily by requiring consistent and expanded disclosures related to the reconciliation of the statutory and effective tax rate and disaggregated disclosure of income taxes paid by jurisdiction. Refer to Note 22 for additional information.
Relevant standards that were recently issued, but not yet adopted as of December 31, 2025
Standard
Description
Effective DateEffects on the financial statements or other significant matters
ASU 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements
The amendments introduce targeted improvements to closely align hedge accounting with an entity’s risk management activities. The ASU expands the hedged risks permitted to be aggregated in a group of individual forecasted transactions in a cash flow hedge, introduces a new model for hedging forecasted interest payments on choose your rate debt instruments, and expands eligibility for certain hedged risks (nonfinancial forecasted transactions, net written options as hedging instruments and foreign currency dual hedge strategy).
Annual reporting for the period ending December 31, 2027 and for interim reporting in 2027. Early adoption is permitted.
We are currently evaluating the impact of this guidance.
ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software
The update removes all references to prescriptive and sequential software development stages, and amends related disclosures. Capitalization of software costs will commence when both i) management has authorized and committed to funding the software project, and ii) it is probable that the project will be completed and the software will be used to perform the function intended (referred to as the “probable-to-complete recognition threshold”).
Annual and interim reporting periods beginning after December 15, 2027. Early adoption is permitted.
We are currently evaluating the impact of this guidance.
ASU 2024-03, Income Statement (Subtopic 220-40): Reporting Comprehensive Income - Expense Disaggregation DisclosuresThe amendments require disclosure of information about certain costs and expenses in both interim and annual reporting periods. Specified information includes expense amounts relating to purchases of inventory, employee compensation, depreciation, intangible asset amortization, and selling expenses with the definition thereof.Annual reporting for the period ending December 31, 2027 and for interim reporting in 2028. Early adoption is permitted.We are currently evaluating the disclosure impact of the new standard.
Additionally, we continue to evaluate other accounting standards that were recently issued, but not yet adopted as of December 31, 2025; none are expected to have a material impact to our financial statements.
v3.25.4
Fair Value
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Fair Value
Fair Value Measurements
We carry trading account assets and liabilities, AFS debt securities, certain equity securities and various types of derivative financial instruments, at fair value in our consolidated statement of condition on a recurring basis. Changes in the fair values of these financial assets and liabilities are recorded either as components of our consolidated statement of income or as components of AOCI within shareholders’ equity in our consolidated statement of condition.
We measure fair value for the above-described financial assets and liabilities in conformity with U.S. GAAP that governs the measurement of the fair value of financial instruments. Management believes that its valuation techniques and underlying assumptions used to measure fair value conform to the provisions of U.S. GAAP. We categorize the financial assets and liabilities that we carry at fair value based on a prescribed three-level valuation hierarchy. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (level 1) and the lowest priority to valuation methods using significant unobservable inputs (level 3). If the inputs used to measure a financial asset or liability cross different levels of the hierarchy, categorization is based on the lowest-level input that is significant to the fair-value measurement. Management’s assessment of the significance of a particular input to the overall fair-value measurement of a financial asset or liability requires judgment, and considers factors specific to that asset or liability. The three levels of the valuation hierarchy are described below.
Level 1. Financial assets and liabilities with values based on unadjusted quoted prices for identical assets or liabilities in an active market. Our level 1 financial assets and liabilities primarily include positions in U.S. government securities and highly liquid U.S. and non-U.S. government fixed-income securities. Our level 1 financial assets also include actively traded exchange-traded equity securities.
Level 2. Financial assets and liabilities with values based on quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. Level 2 inputs include the following:
▪Quoted prices for similar assets or liabilities in active markets;
▪Quoted prices for identical or similar assets or liabilities in non-active markets;
▪Pricing models whose inputs are observable for substantially the full term of the asset or liability; and
▪Pricing models whose inputs are derived principally from, or corroborated by, observable market information through correlation or other means for substantially the full term of the asset or liability.
Our level 2 financial assets and liabilities primarily include non-U.S. debt securities carried in trading account assets and various types of fixed-income AFS investment securities, as well as various types of foreign exchange and interest rate derivative instruments.
Fair value for our AFS investment securities categorized in level 2 is measured primarily using information obtained from independent third parties. This third-party information is subject to review by management as part of a validation process, which includes obtaining an understanding of the underlying assumptions and the level of market participant information used to support those assumptions. In addition, management compares significant assumptions used by third parties to available market information. Such information may include known trades or, to the extent that trading activity is limited, comparisons to market research information pertaining to credit expectations, execution prices and the timing of cash flows and, where information is available, back-testing.
Derivative instruments categorized in level 2 predominantly represent foreign exchange contracts used in our trading activities, for which fair value is measured using discounted cash-flow techniques, with inputs consisting of observable spot and forward points, as well as observable interest rate curves. With respect to derivative instruments, we evaluate the impact on valuation of the credit risk of our counterparties. We consider factors such as the likelihood of default by our counterparties, our current and potential future net exposures and remaining maturities in determining the fair value. Valuation adjustments associated with derivative instruments were not material to those instruments for the years ended December 31, 2025 and 2024.
Level 3. Financial assets and liabilities with values based on prices or valuation techniques that require inputs that are both unobservable in the market and significant to the overall measurement of fair value. These inputs reflect management’s judgment about the assumptions that a market participant would use in pricing the financial asset or liability, and are based on the best available information, some of which may be internally developed. The following provides a more detailed discussion of our financial assets and liabilities that we may categorize in level 3 and the related valuation methodology:
•The fair value of certain foreign exchange contracts, primarily options, is measured using an option-pricing model. Because of a limited number of observable transactions, certain model inputs are not observable, such as implied volatility surface, but are derived from observable market information.
Our level 3 financial assets and liabilities are similar in structure and profile to our level 1 and level 2 financial instruments, but they trade in less liquid markets, and the measurement of their fair value is therefore less observable.
The following tables present information with respect to our financial assets and liabilities carried at fair value in our consolidated statement of condition on a recurring basis as of the dates indicated:
Fair Value Measurements on a Recurring Basis
As of December 31, 2025
(In millions)Quoted Market
Prices in Active
Markets
(Level 1)		Pricing Methods
with Significant
Observable
Market Inputs
(Level 2)		Pricing Methods
with Significant
Unobservable
Market Inputs
(Level 3)
Impact of Netting(1)
Total Net
Carrying Value
in Consolidated
Statement of
Condition
Assets:
Trading account assets:
U.S. government securities$55 $— $— $55 
Non-U.S. government securities— 124 — 124 
Other— 648 — 648 
Total trading account assets55 772 — 827 
Available-for-sale investment securities:
U.S. Treasury and federal agencies:
Direct obligations23,260 — — 23,260 
Mortgage-backed securities— 15,586 — 15,586 
Total U.S. Treasury and federal agencies23,260 15,586 — 38,846 
Non-U.S. debt securities:
Mortgage-backed securities— 2,578 — 2,578 
Asset-backed securities— 2,085 — 2,085 
Non-U.S. sovereign, supranational and non-U.S. agency— 17,731 — 17,731 
Other— 2,826 — 2,826 
Total non-U.S. debt securities— 25,220 — 25,220 
Asset-backed securities:
Student loans— 64 — 64 
Collateralized loan obligations— 2,905 — 2,905 
Non-agency CMBS and RMBS(2)
— 3 — 3 
Other— 91 — 91 
Total asset-backed securities— 3,063 — 3,063 
State and political subdivisions— 25 — 25 
Other U.S. debt securities— — — — 
Total available-for-sale investment securities$23,260 $43,894 $— $67,154 
Other assets:
Derivative instruments:
Foreign exchange contracts$5 $14,218 $1 $(10,073)$4,151 
Interest rate contracts3 31 — (31)3 
Other derivative contracts1 — — — 1 
Total derivative instruments9 14,249 1 (10,104)4,155 
Other22 832 — — 854 
Total assets carried at fair value$23,346 $59,747 $1 $(10,104)$72,990 
Liabilities:
Accrued expenses and other liabilities:
Derivative instruments:
Foreign exchange contracts$— $14,097 $— $(9,231)$4,866 
Interest rate contracts— 5 — (5)— 
Other derivative contracts— 159 — — 159 
Total derivative instruments— 14,261 — (9,236)5,025 
Total liabilities carried at fair value$— $14,261 $— $(9,236)$5,025 
(1) Represents counterparty netting against level 2 financial assets and liabilities where a legally enforceable master netting agreement exists between us and the counterparty. Netting also reflects asset and liability reductions of $2.48 billion and $1.61 billion, respectively, for cash collateral received from and provided to derivative counterparties.
(2) Consists entirely of non-agency CMBS.
Fair Value Measurements on a Recurring Basis
As of December 31, 2024
(In millions)Quoted Market
Prices in Active
Markets
(Level 1)		Pricing Methods
with Significant
Observable
Market Inputs
(Level 2)		Pricing Methods
with Significant
Unobservable
Market Inputs
(Level 3)
Impact of Netting(1)
Total Net
Carrying Value
in Consolidated
Statement of
Condition
Assets:
Trading account assets:
U.S. government securities$34 $— $— $34 
Non-U.S. government securities— 121 — 121 
Other— 613 — 613 
Total trading account assets34 734 — 768 
Available-for-sale investment securities:
U.S. Treasury and federal agencies:
Direct obligations23,525 — — 23,525 
Mortgage-backed securities— 10,566 — 10,566 
Total U.S. Treasury and federal agencies23,525 10,566 — 34,091 
Non-U.S. debt securities:
Mortgage-backed securities— 2,430 — 2,430 
Asset-backed securities— 1,868 — 1,868 
Non-U.S. sovereign, supranational and non-U.S. agency— 13,939 — 13,939 
Other— 2,821 — 2,821 
Total non-U.S. debt securities— 21,058 — 21,058 
Asset-backed securities:
Student loans— 90 — 90 
Collateralized loan obligations— 3,453 — 3,453 
Non-agency CMBS and RMBS(2)
— 4 — 4 
Other— 91 — 91 
Total asset-backed securities— 3,638 — 3,638 
State and political subdivisions— 56 — 56 
Other U.S. debt securities— 52 — 52 
Total available-for-sale investment securities$23,525 $35,370 $— $58,895 
Other assets:
Derivative instruments:
Foreign exchange contracts$16 $29,422 $1 $(18,262)$11,177 
Interest rate contracts5 23 — (23)5 
Other derivative contracts1 — — — 1 
Total derivative instruments22 29,445 1 (18,285)11,183 
Other20 747 — — 767 
Total assets carried at fair value$23,601 $66,296 $1 $(18,285)$71,613 
Liabilities:
Accrued expenses and other liabilities:
Trading account liabilities:
Derivative instruments:
Foreign exchange contracts$— $28,904 $— $(22,527)$6,377 
Interest rate contracts— 1 — (1)— 
Other derivative contracts— 219 — — 219 
Total derivative instruments— 29,124 — (22,528)6,596 
Total liabilities carried at fair value$— $29,124 $— $(22,528)$6,596 
(1) Represents counterparty netting against level 2 financial assets and liabilities where a legally enforceable master netting agreement exists between us and the counterparty. Netting also reflects asset and liability reductions of $1.86 billion and $6.10 billion, respectively, for cash collateral received from and provided to derivative counterparties.
(2) Consists entirely of non-agency CMBS.
Financial Instruments Not Carried at Fair Value
Estimates of fair value for financial instruments not carried at fair value in our consolidated statement of condition are generally subjective in nature, and are determined as of a specific point in time based on the characteristics of the financial instruments and relevant market information. Disclosure of fair value estimates is not required by U.S. GAAP for certain items, such as lease financing, equity-method investments, obligations for pension and other post-retirement plans, premises and equipment, other intangible assets and income-tax assets and liabilities. Accordingly, aggregate fair-value estimates presented do not purport to represent, and should not be considered representative of, our underlying “market” or franchise value. In addition, because of potential differences in methodologies and assumptions used to estimate fair values, our estimates of fair value should not be compared to those of other financial institutions.
We use the following methods to estimate the fair values of our financial instruments:
•For financial instruments that have quoted market prices, those quoted prices are used to estimate fair value;
•For financial instruments that have no defined maturity, have a remaining maturity of 180 days or less, or reprice frequently to a market rate, we assume that the fair value of these instruments approximates their reported value, after taking into consideration any applicable credit risk; and
•For financial instruments for which no quoted market prices are available, fair value is estimated using information obtained from independent third parties, or by discounting the expected cash flows using an estimated current market interest rate for the financial instrument.
The generally short duration of certain of our assets and liabilities results in a significant number of financial instruments for which fair value equals or closely approximates the amount recorded in our consolidated statement of condition. These financial instruments are reported in the following captions in our consolidated statement of condition: cash and due from banks; interest-bearing deposits with banks; securities purchased under resale agreements; accrued interest and fees receivable; deposits; securities sold under repurchase agreements; federal funds purchased; and other short-term borrowings.
In addition, due to the relatively short duration of certain of our loans, we consider fair value for these loans to approximate their reported value. The fair value of other types of loans, such as commercial loans, commercial real estate loans, purchased receivables and municipal loans is estimated using information obtained from independent third parties or by discounting expected future cash flows using current rates at which similar loans would be made to borrowers with similar credit ratings for the same remaining maturities. Commitments to lend have no reported value because their terms are at prevailing market rates.
The following tables present the reported amounts and estimated fair values of the financial assets and liabilities not carried at fair value, as they would be categorized within the fair value hierarchy, as of the dates indicated:
 
Fair Value Hierarchy
(In millions)
Carrying Value
Estimated Fair Value
Quoted Market Prices in Active Markets (Level 1)
Pricing Methods with Significant Observable Market Inputs (Level 2) 
Pricing Methods with Significant Unobservable Market Inputs (Level 3)
December 31, 2025
Financial Assets:    
Cash and due from banks$4,433 $4,433 $4,433 $— $— 
Interest-bearing deposits with banks126,930 126,930 — 126,930 — 
Securities purchased under resale agreements6,812 6,812 — 6,812 — 
Investment securities held-to-maturity38,171 34,166 563 33,603 — 
Net loans(1)
46,589 46,417 — 44,862 1,555 
Other(2)
15,490 15,490 — 15,490 — 
Financial Liabilities:
Deposits:
   Non-interest-bearing$35,267 $35,267 $— $35,267 $— 
   Interest-bearing - U.S.168,079 168,079 — 168,079 — 
   Interest-bearing - non-U.S.71,004 71,004 — 71,004 — 
Securities sold under repurchase agreements841 841 — 841 — 
Other short-term borrowings3,821 3,821 — 3,821 — 
Long-term debt25,143 25,253 — 25,130 123 
Other(2)
15,490 15,490 — 15,490 — 
(1) Includes $92 million of loans classified as held-for-sale that were measured at fair value in level 2 as of December 31, 2025.
(2) Represents a portion of underlying client assets related to our prime services business, which clients have allowed us to transfer and re-pledge.
Fair Value Hierarchy
(In millions)
Carrying Value
Estimated Fair Value
Quoted Market Prices in Active Markets (Level 1)
Pricing Methods with Significant Observable Market Inputs (Level 2) 
Pricing Methods with Significant Unobservable Market Inputs (Level 3)
December 31, 2024
Financial Assets:
Cash and due from banks$3,145 $3,145 $3,145 $— $— 
Interest-bearing deposits with banks112,957 112,957 — 112,957 — 
Securities purchased under resale agreements6,679 6,679 — 6,679 — 
Investment securities held-to-maturity47,727 41,906 5,354 36,552 — 
Net loans(1)
43,026 42,839 — 41,097 1,742 
Other(2)
6,752 6,752 — 6,752 — 
Financial Liabilities:
Deposits:
   Non-interest-bearing$33,180 $33,180 $— $33,180 $— 
   Interest-bearing - U.S.166,483 166,483 — 166,483 — 
   Interest-bearing - non-U.S.62,257 62,257 — 62,257 — 
Securities sold under repurchase agreements3,681 3,681 — 3,681 — 
Other short-term borrowings9,840 9,840 — 9,840 — 
Long-term debt23,272 23,078 — 22,882 196 
Other(2)
6,752 6,752 — 6,752 — 
(1) Includes $14 million of loans classified as held-for-sale that were measured at fair value in level 2 as of December 31, 2024.
(2) Represents a portion of underlying client assets related to our prime services business, which clients have allowed us to transfer and re-pledge.
v3.25.4
Investment Securities
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Investment Securities Investment Securities
Investment securities held by us are classified as either trading account assets, AFS, HTM or equity securities held at fair value at the time of purchase and reassessed periodically, based on management’s intent.
Generally, trading assets are debt and equity securities purchased in connection with our trading activities and, as such, are expected to be sold in the near term. Our trading activities typically involve active and frequent buying and selling with the objective of generating profits on short-term movements. AFS investment securities are those securities that we intend to hold for an indefinite period of time. AFS investment securities include securities utilized as part of our asset and liability management activities that may be sold in response to changes in interest rates, prepayment risk, liquidity needs or other factors. HTM securities are debt securities that management has the intent and the ability to hold to maturity.
Trading assets are carried at fair value. Both realized and unrealized gains and losses on trading assets are recorded in other fee revenue in our consolidated statement of income. AFS securities are carried at fair value, with any allowance for credit losses recorded through the consolidated statement of income and after-tax net unrealized gains and losses are recorded in AOCI. Gains or losses realized on sales of AFS investment securities are computed using the specific identification method and are recorded in gains (losses) from sales of available-for-sale securities, net, in our consolidated statement of income. HTM investment securities are carried at cost, adjusted for amortization of premiums and accretion of discounts, with any allowance for credit losses recorded through the consolidated statement of income.
The following table presents the amortized cost, fair value and associated unrealized gains and losses of AFS and HTM investment securities as of the dates indicated:
 December 31, 2025December 31, 2024
 Amortized
Cost		Gross
Unrealized		Fair
Value		Amortized
Cost		Gross
Unrealized		Fair
Value
(In millions)GainsLossesGainsLosses
Available-for-sale:
U.S. Treasury and federal agencies:
Direct obligations$23,210 $55 $5 $23,260 $23,539 $38 $52 $23,525 
Mortgage-backed securities(1)
15,550 90 54 15,586 10,699 21 154 10,566 
Total U.S. Treasury and federal agencies38,760 145 59 38,846 34,238 59 206 34,091 
Non-U.S. debt securities:
Mortgage-backed securities2,573 6 1 2,578 2,426 5 1 2,430 
Asset-backed securities(2)
2,081 5 1 2,085 1,865 5 2 1,868 
Non-U.S. sovereign, supranational and non-U.S. agency17,693 73 35 17,731 13,954 54 69 13,939 
Other(3)
2,784 42 — 2,826 2,787 38 4 2,821 
Total non-U.S. debt securities25,131 126 37 25,220 21,032 102 76 21,058 
Asset-backed securities:
Student loans(4)
63 1 — 64 89 1 — 90 
Collateralized loan obligations(5)
2,904 2 1 2,905 3,447 6 — 3,453 
Non-agency CMBS and RMBS(6)
— 3 — 3 1 3 — 4 
Other90 1 — 91 90 1 — 91 
Total asset-backed securities3,057 7 1 3,063 3,627 11 — 3,638 
State and political subdivisions25 — — 25 56 — — 56 
Other U.S. debt securities
— — — — 53 — 1 52 
Total available-for-sale securities(7)(8)
$66,973 $278 $97 $67,154 $59,006 $172 $283 $58,895 
Held-to-maturity:
U.S. Treasury and federal agencies:
Direct obligations$573 $— $3 $570 $5,417 $— $55 $5,362 
Mortgage-backed securities(9)
32,876 9 3,965 28,920 36,101 2 5,677 30,426 
Total U.S. Treasury and federal agencies33,449 9 3,968 29,490 41,518 2 5,732 35,788 
Non-U.S. debt securities:
Non-U.S. sovereign, supranational and non-U.S. agency2,461 4 31 2,434 3,673 7 73 3,607 
Total non-U.S. debt securities2,461 4 31 2,434 3,673 7 73 3,607 
Asset-backed securities:
Student loans(4)
2,261 5 24 2,242 2,536 4 29 2,511 
Total asset-backed securities2,261 5 24 2,242 2,536 4 29 2,511 
Total held-to-maturity securities(7)(10)
$38,171 $18 $4,023 $34,166 $47,727 $13 $5,834 $41,906 
(1) As of December 31, 2025 and 2024, the total fair value included $2.81 billion and $4.36 billion, respectively, of agency CMBS and $12.78 billion and $6.20 billion, respectively, of agency MBS.
(2) As of December 31, 2025 and 2024, the fair value includes non-U.S. collateralized loan obligations of $0.77 billion and $0.70 billion, respectively.
(3) As of December 31, 2025 and 2024, the fair value includes non-U.S. corporate bonds of $2.40 billion and $2.54 billion, respectively.
(4) Primarily comprises securities guaranteed by the federal government with respect to at least 97% of defaulted principal and accrued interest on the underlying loans.
(5) Excludes CLO loans. Refer to Note 4 for additional information.
(6) Consists entirely of non-agency RMBS as of both December 31, 2025 and 2024.
(7) An immaterial amount of accrued interest related to HTM and AFS investment securities was excluded from the amortized cost basis for the periods ended December 31, 2025 and 2024.
(8) As of December 31, 2025 and 2024, we had no allowance for credit losses on AFS investment securities.
(9) As of December 31, 2025 and 2024, the total amortized cost included $5.08 billion and $5.18 billion of agency CMBS, respectively.
(10) As of both December 31, 2025 and 2024, the allowance for credit losses on HTM investment securities was less than $1 million.
Aggregate investment securities with carrying values of approximately $74.14 billion and $86.70 billion as of December 31, 2025 and 2024, respectively, were designated as pledged for public and trust deposits, short-term borrowings and for other purposes as provided by law.
In 2025, 2024 and 2023, proceeds from sales of AFS securities were approximately $16.00 billion, $10.97 billion and $4.92 billion, respectively, resulting in a pre-tax gain of approximately $4 million in 2025, and a pre-tax loss of approximately $79 million and $294 million in 2024 and 2023, respectively. The pre-tax gain in 2025 was primarily driven by sales of U.S. Treasury, mortgage-backed securities, supranational securities and foreign government bonds.
The following tables present the aggregate fair values of AFS investment securities that have been in a continuous unrealized loss position for less than 12 months, and those that have been in a continuous unrealized loss position for 12 months or longer, as of the dates indicated:
As of December 31, 2025
Less than 12 months12 months or longerTotal
(In millions)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Available-for-sale:
U.S. Treasury and federal agencies:
Direct obligations$756 $2 $2,063 $3 $2,819 $5 
Mortgage-backed securities1,267 3 4,018 51 5,285 54 
Total U.S. Treasury and federal agencies2,023 5 6,081 54 8,104 59 
Non-U.S. debt securities:
Mortgage-backed securities617 1 73 — 690 1 
Asset-backed securities425 — 168 1 593 1 
Non-U.S. sovereign, supranational and non-U.S. agency3,871 28 1,943 7 5,814 35 
Other129 — — — 129 — 
Total non-U.S. debt securities5,042 29 2,184 8 7,226 37 
Asset-backed securities:
Collateralized loan obligations1,068 1 — — 1,068 1 
Total asset-backed securities1,068 1 — — 1,068 1 
Total$8,133 $35 $8,265 $62 $16,398 $97 

As of December 31, 2024
Less than 12 months12 months or longerTotal
(In millions)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Available-for-sale:
U.S. Treasury and federal agencies:
Direct obligations$8,113 $25 $2,435 $27 $10,548 $52 
Mortgage-backed securities3,742 59 4,360 95 8,102 154 
Total U.S. Treasury and federal agencies11,855 84 6,795 122 18,650 206 
Non-U.S. debt securities:
Mortgage-backed securities730 1 225 — 955 1 
Asset-backed securities387 — 506 2 893 2 
Non-U.S. sovereign, supranational and non-U.S. agency4,695 49 2,695 20 7,390 69 
Other312 2 116 2 428 4 
Total non-U.S. debt securities6,124 52 3,542 24 9,666 76 
Asset-backed securities:
Student loans12 — — — 12 — 
Collateralized loan obligations684 — — — 684 — 
Non-agency CMBS and RMBS— — — — — — 
Total asset-backed securities696 — — — 696 — 
State and political subdivisions— — 26 — 26 — 
Other U.S. debt securities3 — 49 1 52 1 
Total$18,678 $136 $10,412 $147 $29,090 $283 
The following table presents the amortized cost and the fair value of contractual maturities of debt investment securities as of December 31, 2025. The maturities of certain ABS, MBS and collateralized mortgage obligations are based on expected principal payments. Actual maturities may differ from these expected maturities since certain borrowers have the right to prepay obligations with or without prepayment penalties.
As of December 31, 2025
(In millions)Under 1 Year1 to 5 Years6 to 10 YearsOver 10 YearsTotal
Amortized Cost
Fair Value
Amortized Cost
Fair Value
Amortized Cost
Fair Value
Amortized Cost
Fair Value
Amortized Cost
Fair Value
Available-for-sale:
U.S. Treasury and federal agencies:
Direct obligations$6,153 $6,161 $17,056 $17,098 $1 $1 $— $— $23,210 $23,260 
Mortgage-backed securities81 80 1,639 1,638 1,092 1,083 12,738 12,785 15,550 15,586 
Total U.S. Treasury and federal agencies6,234 6,241 18,695 18,736 1,093 1,084 12,738 12,785 38,760 38,846 
Non-U.S. debt securities:
Mortgage-backed securities179 180 485 485 — — 1,909 1,913 2,573 2,578 
Asset-backed securities56 56 329 330 929 932 767 767 2,081 2,085 
Non-U.S. sovereign, supranational and
non-U.S. agency		4,423 4,432 12,457 12,486 813 813 — — 17,693 17,731 
Other796 800 1,958 1,996 30 30 — — 2,784 2,826 
Total non-U.S. debt securities5,454 5,468 15,229 15,297 1,772 1,775 2,676 2,680 25,131 25,220 
Asset-backed securities:
Student loans6 6 — — 9 10 48 48 63 64 
Collateralized loan obligations156 156 16 16 1,341 1,341 1,391 1,392 2,904 2,905 
Non-agency CMBS and RMBS— — — — — 3 — — — 3 
Other— — 90 91 — — — — 90 91 
Total asset-backed securities162 162 106 107 1,350 1,354 1,439 1,440 3,057 3,063 
State and political subdivisions25 25 — — — — — — 25 25 
Total$11,875 $11,896 $34,030 $34,140 $4,215 $4,213 $16,853 $16,905 $66,973 $67,154 
Held-to-maturity:
U.S. Treasury and federal agencies:
Direct obligations$463 $461 $103 $102 $— $— $7 $7 $573 $570 
Mortgage-backed securities234 220 3,924 3,578 868 790 27,850 24,332 32,876 28,920 
Total U.S. Treasury and federal agencies697 681 4,027 3,680 868 790 27,857 24,339 33,449 29,490 
Non-U.S. debt securities:
Non-U.S. sovereign, supranational and
non-U.S. agency		1,108 1,102 1,259 1,240 94 92 — — 2,461 2,434 
Total non-U.S. debt securities1,108 1,102 1,259 1,240 94 92 — — 2,461 2,434 
Asset-backed securities:
Student loans127 125 424 423 413 414 1,297 1,280 2,261 2,242 
Total asset-backed securities127 125 424 423 413 414 1,297 1,280 2,261 2,242 
Total$1,932 $1,908 $5,710 $5,343 $1,375 $1,296 $29,154 $25,619 $38,171 $34,166 
Interest income related to debt securities is recognized in our consolidated statement of income using the effective interest method, or on a basis approximating a level rate of return over the contractual or estimated life of the security. The level rate of return considers any non-refundable fees or costs, as well as purchase premiums or discounts, adjusted as prepayments occur, resulting in amortization or accretion, accordingly.
Allowance for Credit Losses on Debt Securities and Impairment of AFS Securities
An allowance for credit losses is recognized on HTM securities upon acquisition of the security, and on AFS securities when the fair value and expected future cash flows of the investment securities are less than their amortized cost basis. Our assessment of impairment involves an evaluation of economic and security-specific factors. Such factors are based on estimates, derived by management, which contemplate current market conditions and security-specific performance. To the extent that market conditions are worse than management’s expectations or due to idiosyncratic bond performance, the credit-related component of impairment, in particular, could increase and would be recorded in the provision for credit losses.
We conduct quarterly reviews of HTM securities on a collective (pool) basis when similar risk characteristics exist to determine whether an allowance for credit losses should be recognized. HTM securities are evaluated for expected credit loss utilizing a probability of default methodology, or discounted cash flows assessed against the amortized cost of the investment security excluding accrued interest.
We monitor the credit quality of the HTM investment securities using a variety of methods, including both external and internal credit ratings.
With respect to certain classes of debt securities, primarily U.S. Treasuries and agency securities (mainly issued by U.S. Government entities and agencies, as well as Group of Seven sovereigns), we consider the history of credit losses, current conditions and reasonable and supportable forecasts, which may indicate that the expectation that nonpayment of the amortized cost basis is or continues to be zero. Therefore, for those securities, we do not record expected credit losses.
We have elected to not record an allowance on accrued interest for HTM securities. Accrued interest on these securities is reversed against interest income when payment on a security is delinquent for greater than 90 days from the date of payment.
An AFS security is impaired when the current fair value of an individual security is below its amortized cost basis. An allowance for credit losses on impaired AFS securities is recorded when the present value of expected future cash flows of the investment security is less than its amortized cost basis, limited to the amount by which the security’s amortized cost basis exceeds the fair value. Investment securities will be written down to fair value through the consolidated statement of income when management intends to sell (or may be required to sell) the securities before they recover in value.
Our review of AFS investment securities for credit impairment generally includes:
•the identification and evaluation of securities that have indications of potential impairment, such as issuer-specific concerns, including deteriorating financial condition or bankruptcy;
•the analysis of expected future cash flows of securities, based on quantitative and qualitative factors;
•the analysis of the collectability of those future cash flows, including information about past events, current conditions, and reasonable and supportable forecasts;
•the analysis of the underlying collateral for MBS and ABS;
•the analysis of individual impaired securities, including the anticipated recovery period and the magnitude of the overall price decline;
•evaluation of factors or triggers that could cause individual securities to be deemed impaired and those that would not support impairment; and
•documentation of the results of these analyses.
Substantially all of our investment securities portfolio is composed of debt securities. A critical component of our assessment of impairment of these debt securities is the identification of credit-impaired securities for which management does not expect to receive cash flows sufficient to recover the entire amortized cost basis of the security.
As of December 31, 2025, 99% of our HTM and AFS investment portfolio is publicly rated investment grade.
After a review of the investment portfolio, taking into consideration then-current economic conditions, adverse situations that might affect our ability to fully collect principal and interest, the timing of future payments, the credit quality and performance of the collateral underlying MBS and ABS and other relevant factors, management considered the aggregate decline in fair value of the investment securities portfolio and the resulting gross pre-tax unrealized losses of $4.12 billion and $6.12 billion related to 1,342 and 1,564 securities as of December 31, 2025 and 2024, respectively, to be primarily related to changes in interest rates, and not the result of any material changes in the credit characteristics of the securities. The unrealized loss has not been recognized as of December 31, 2025, as management did not have the intent to sell, nor was it more likely than not that we would be required to sell these securities before the expected recovery of their amortized cost basis.
v3.25.4
Loans and Allowance for Credit Losses
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Loans and Allowance for Credit Losses Loans and Allowance for Credit Losses
Loans are generally recorded at their principal amount outstanding, net of the allowance for credit losses, unearned income, and any net unamortized deferred loan origination fees. Loans that are classified as held-for-sale are measured at lower of cost or fair value on an individual basis.
Interest income related to loans is recognized in our consolidated statement of income using the interest method, or on a basis approximating a level rate of return over the term of the loan. Fees received for providing loan commitments and letters of credit that we anticipate will result in loans typically are deferred and amortized to interest income over the term of the related loan, beginning with the initial borrowing. Fees on commitments and letters of credit are amortized to software and processing fees over the commitment period when funding is not known or expected.
The following table presents our recorded investment in loans, as of the dates indicated:
(In millions)December 31, 2025December 31, 2024
Subscription finance$13,138 $11,544 
Fund finance(1)
10,916 10,244 
Collateralized loan obligations(2)
12,809 9,488 
Commercial2,851 3,881 
Commercial real estate2,471 2,842 
Overdrafts1,962 1,980 
Other(3)
2,635 3,221 
Total loans(4)(5)
46,782 43,200 
Allowance for credit losses(193)(174)
Loans, net of allowance for credit losses
$46,589 $43,026 
(1) Fund finance loans primarily include loans to real money funds and business development companies of $8.30 billion and $1.75 billion, respectively, as of December 31, 2025, compared to $7.90 billion and $1.44 billion, respectively, as of December 31, 2024.
(2) Collateralized loan obligations include broadly syndicated and middle market CLO loans of $10.30 billion and $2.51 billion, respectively, as of December 31, 2025, compared to $8.39 billion and $1.10 billion, respectively, as of December 31, 2024.
(3) Includes securities finance loans and loans to municipalities of $2.52 billion and $0.12 billion, respectively, as of December 31, 2025 and $3.01 billion and $0.21 billion, respectively, as of December 31, 2024.
(4) Excluding overdrafts, floating rate loans and fixed rate loans totaled $42.37 billion and $2.45 billion, respectively, as of December 31, 2025. We have entered into interest rate swap agreements to hedge forecasted cash flows associated with EURIBOR indexed floating-rate loans. See Note 10 for additional details.
(5) Non-U.S. loans totaled $18.78 billion and $16.79 billion as of December 31, 2025 and 2024, respectively.
We segregate our loans into two segments: commercial and financial and commercial real estate. We further classify commercial and financial loans as subscription finance, fund finance loans, collateralized loan obligations, commercial, overdrafts and other loans.
Certain loans are pledged as collateral for access to the Federal Reserve’s discount window. As of December 31, 2025 and 2024, the loans pledged as collateral totaled $15.11 billion and $13.90 billion, respectively.
We generally place loans on non-accrual status once principal or interest payments are 90 days contractually past due, or earlier if management determines that full collection is not probable. Loans 90 days past due, but considered both well-secured and in the process of collection, may be excluded from non-accrual status. When we place a loan on non-accrual status, the accrual of interest is discontinued and previously recorded, but unpaid interest is reversed and generally charged against interest income. For loans on non-accrual status, income is recognized on a cash basis after recovery of principal, if and when interest payments are received. Loans may be removed from non-accrual status when repayment is reasonably assured and performance under the terms of the loan has been demonstrated. As of December 31, 2025, we had four loans totaling $258 million on non-accrual status, of which no loans were more than 90 days contractually past due. As of December 31, 2024, we had two loans totaling $191 million on non-accrual status, of which one loan totaling $101 million was more than 90 days contractually past due.
In 2025, we originated $5.57 billion of CLO loans, consisting of $5.01 billion in broadly syndicated and $0.56 billion in middle market CLO loans, which were all investment grade as of December 31, 2025.
We sold $1.16 billion of total loans, which consisted entirely of commercial loans in 2025. We recorded a charge-off against the allowance for these loans of $15 million in 2025.
Allowance for Credit Losses
We recognize an allowance for credit losses in accordance with ASC 326 for financial assets held at amortized cost and off-balance sheet commitments. The allowance for credit losses is reviewed on a regular basis, and any provision for credit losses is recorded to reflect the amount necessary to maintain the allowance for expected credit losses at a level which represents what management does not expect to recover due to expected credit losses. For additional discussion on the allowance for credit losses for investment securities, please refer to Note 3.
When the allowance is recorded, a provision for credit loss expense is recognized in net income. The allowance for credit losses for financial assets (excluding investment securities, as discussed in Note 3) represents the portion of the amortized cost basis, including accrued interest for financial assets held at amortized cost, which management does not expect to recover due to expected credit losses and is presented on the statement of condition as an offset to the amortized cost basis. The accrued interest balance is presented separately on the statement of condition within accrued interest and fees receivable.
The allowance for off-balance sheet commitments is presented within accrued expenses and other liabilities. Loans are charged off to the allowance for credit losses in the reporting period in which either an event occurs that confirms the existence of a loss on a loan, including a sale of a loan below its carrying value, or a portion of a loan is determined to be uncollectible.
The allowance for credit losses may be determined using various methods, including discounted cash flow methods, loss-rate methods, PD methods, and other quantitative or qualitative methods as determined by us. The method used to estimate expected credit losses may vary depending on the type of financial asset, our ability to predict the timing of cash flows, and the information available to us.
The allowance for credit losses as reported in our consolidated statement of condition is adjusted by the provision for credit losses, which is reported in earnings, and reduced by the charge-off of principal amounts, net of recoveries.
We measure expected credit losses of financial assets on a collective (pool) basis when similar risk characteristics exist. Each reporting period, we assess whether the assets in the pool continue to display similar risk characteristics.
For a financial asset that does not share risk characteristics with other assets, expected credit losses are measured separately using one or more of the methods noted above. As of December 31, 2025, we had three loans totaling $98 million in the commercial and financial segment and 4 loans totaling $296 million in the commercial real estate segment that no longer met the similar risk characteristics of their collective pool. As of December 31, 2025, $120 million of our allowance for credit losses was related to these loans.
When the asset is collateral-dependent, which means when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral, the allowance for credit losses are determined based on the fair value of the collateral, adjusted for the estimated costs to sell.
Determining the appropriateness of the allowance is complex and requires judgment by management about the effect of matters that are inherently uncertain. In future periods, factors and forecasts then prevailing may result in significant changes in the allowance for credit losses in those future periods.
We estimate credit losses over the contractual life of the financial asset, while factoring in prepayment activity, where supported by data, over a three year reasonable and supportable forecast period. We utilize a baseline, upside and downside scenario which are applied based on a probability weighting, in order to better reflect management’s expectation of expected credit losses given existing market conditions and the changes in the economic environment. The multiple scenarios are based on a three year horizon (or less depending on contractual maturity) and then revert linearly over a two year period to a ten-year historical average thereafter. The contractual term excludes expected extensions, renewals and modifications, but includes prepayment assumptions where applicable.
As part of our allowance methodology, we establish qualitative reserves to address any risks inherent in our portfolio that are not addressed through our quantitative reserve assessment. These factors may relate to, among other things, legislation changes or new regulation, credit concentration, loan markets, scenario weighting and overall model limitations. The qualitative adjustments are applied to our portfolio of financial instruments under the existing governance structure and are inherently judgmental.
Credit Quality
Credit quality for financial assets held at amortized cost is continuously monitored by management and is reflected within the allowance for credit losses.
We use an internal risk-rating system to assess our risk of credit loss for each loan. This risk-rating process incorporates the use of risk-rating tools in conjunction with management judgment. Qualitative and quantitative inputs are captured in a systematic manner, and following a formal review and approval process, an internal credit rating based on our credit scale is assigned.
When computing allowance levels, credit loss assumptions are estimated using models that categorize asset pools based on loss history, delinquency status and other credit trends and risk characteristics, including current conditions and reasonable and supportable forecasts about the future. Determining the appropriateness of the allowance is complex and requires judgment by management about the effect of matters that are inherently uncertain. In future periods, evaluations of the overall asset portfolio, in light of the factors and forecasts then prevailing, may result in significant changes in the allowance and credit loss expense in those future periods.
Credit quality is assessed and monitored by evaluating various attributes in order to enable timely
detection of any concerns with the customer’s credit rating. The results of those evaluations are utilized in underwriting new loans and transactions with counterparties and in our process for estimation of expected credit losses.
In assessing the risk rating assigned to each individual loan, among the factors considered are the borrower's debt capacity, collateral coverage, payment history and delinquency experience, financial flexibility and earnings strength, the expected amounts and source of repayment, the level and nature of contingencies, if any, and the industry and geography in which the borrower operates. These factors are based on an evaluation of historical and current information, and involve subjective assessment and interpretation. Credit counterparties are evaluated and risk-rated on an individual basis at least annually. Management considers the ratings to be current as of December 31, 2025.
Our internal risk rating methodology assigns risk ratings to counterparties ranging from Investment Grade, Sub-Investment Grade, Special Mention, Substandard, Doubtful and Loss.
•Investment Grade: Counterparties with strong credit quality and low expected credit risk and probability of default. Approximately 91% of our loans were rated as investment grade as of December 31, 2025 with external credit ratings, or equivalent, of “BBB-” or better.
•Sub-Investment Grade: Counterparties that have the ability to repay but face significant uncertainties, such as adverse business or financial circumstances that could affect credit risk or economic downturns. Loans to counterparties rated as sub-investment grade account for approximately 8% of our loans as of December 31, 2025, and are concentrated in leveraged loans. Approximately 87% of those leveraged loans have an external credit rating, or equivalent, of “BB” or “B” as of December 31, 2025.
•Special Mention: Counterparties with potential weaknesses that, if uncorrected, may result in deterioration of repayment prospects.
•Substandard: Counterparties with well-defined weakness that jeopardizes
repayment with the possibility we will sustain some loss.
•Doubtful: Counterparties with well-defined weakness which make collection or liquidation in full highly questionable and improbable.
•Loss: Counterparties which are uncollectible or have little value.
The following tables present our recorded investment in loans to counterparties by risk rating, as noted above, as of the dates indicated:
December 31, 2025Commercial and FinancialCommercial Real EstateTotal Loans
(In millions)
Investment grade$40,854 $1,402 $42,256 
Sub-investment grade
3,157 641 3,798 
Special mention110 132 242 
Substandard48 165 213 
Doubtful50 131 181 
Total(1)(2)
$44,219 $2,471 $46,690 
December 31, 2024Commercial and FinancialCommercial Real EstateTotal Loans 
(In millions)
Investment grade$35,831 $1,969 $37,800 
Sub-investment grade
4,278 409 4,687 
Special mention187 62 249 
Substandard48 211 259 
Doubtful— 191 191 
Total(1)(2)
$40,344 $2,842 $43,186 
(1) Loans include $1.96 billion and $1.98 billion of overdrafts as of December 31, 2025 and 2024, respectively. Overdrafts are short-term in nature and do not present a significant credit risk to us. As of December 31, 2025, $1.90 billion overdrafts were investment grade and $0.06 billion overdrafts were sub-investment grade.
(2) Total does not include $92 million and $14 million of loans classified as held-for-sale as of December 31, 2025 and 2024, respectively.
Financial assets held at amortized cost that are not loans are disaggregated based on product type. This includes our fees receivable balance, which have had no history of credit losses, and are evaluated collectively as a pool.
Securities purchased under a resale agreement and securities-financing within our principal business utilize the collateral maintenance provisions included within ASC 326. An allowance for credit losses is recognized for any remaining exposure based on counterparty type.
The allowance for credit losses for off-balance sheet credit exposures, recorded in accrued expenses and other liabilities in our consolidated statement of condition, represents management’s estimate of credit losses primarily in outstanding letters and lines of credit and other credit-enhancement facilities provided to our clients and outstanding as of the balance sheet date. The allowance is evaluated quarterly by management. Factors considered in evaluating the appropriate level of this allowance are similar to those considered with respect to the allowance for credit losses on financial assets held at amortized cost. Provisions to maintain the allowance at a level considered by us to be appropriate to absorb estimated credit losses in outstanding facilities are recorded in the provision for credit losses in our consolidated statement of income.
The following table presents the amortized cost basis, by year of origination and credit quality indicator as of December 31, 2025. For origination years before the fifth annual period, we present the aggregate amortized cost basis of loans. For purchased loans, the date of issuance is used to determine the year of origination, not the date of acquisition. For modified, extended or renewed lending arrangements, we evaluate whether a credit event has occurred which would consider the loan to be a new arrangement.
(In millions)20252024202320222021PriorRevolving Loans
Total(1)
Commercial and financial:
Risk Rating:
Investment grade$8,896 $4,153 $692 $504 $1,313 $119 $25,177 $40,854 
Sub-investment grade
911 1,224 109 46 133 111 623 3,157 
Special mention3 100 — — — 7 — 110 
Substandard— 48 — — — — — 48 
Doubtful— — 10 — 40 — — 50 
Total commercial and financing$9,810 $5,525 $811 $550 $1,486 $237 $25,800 $44,219 
Commercial real estate:
Risk Rating:
Investment grade$— $41 $166 $328 $318 $549 $— $1,402 
Sub-investment grade
— — 47 — 31 563 — 641 
Special mention66 — — 20 — 46 — 132 
Substandard— — — — — 165 — 165 
Doubtful— — — — — 131 — 131 
Total commercial real estate$66 $41 $213 $348 $349 $1,454 $— $2,471 
Total loans(2)
$9,876 $5,566 $1,024 $898 $1,835 $1,691 $25,800 $46,690 
(1) Any reserve associated with accrued interest is not material. As of December 31, 2025, accrued interest receivable of $338 million included in the amortized cost basis of loans has been excluded from the amortized cost basis within this table.
(2) Total does not include $92 million of loans classified as held-for-sale as of December 31, 2025.
The following table presents the amortized cost basis, by year of origination and credit quality indicator as of December 31, 2024:
(In millions)20242023202220212020PriorRevolving Loans
Total(1)
Commercial and financial:
Risk Rating:
Investment grade$6,189 $2,019 $1,241 $2,234 $6 $197 $23,945 $35,831 
Sub-investment grade
2,441 347 198 633 99 198 362 4,278 
Special mention47 45 26 69 — — — 187 
Substandard— — 12 36 — — — 48 
Total commercial and financing$8,677 $2,411 $1,477 $2,972 $105 $395 $24,307 $40,344 
Commercial real estate:
Risk Rating:
Investment grade$41 $63 $488 $278 $128 $971 $— $1,969 
Sub-investment grade
— 153 20 69 100 67 — 409 
Special mention— — — — — 62 — 62 
Substandard— — — — — 211 — 211 
Doubtful— — — — — 191 — 191 
Total commercial real estate$41 $216 $508 $347 $228 $1,502 $— $2,842 
Total loans(2)
$8,718 $2,627 $1,985 $3,319 $333 $1,897 $24,307 $43,186 
(1) Any reserve associated with accrued interest is not material. As of December 31, 2024, accrued interest receivable of $327 million included in the amortized cost basis of loans has been excluded from the amortized cost basis within this table.
(2) Total does not include $14 million of loans classified as held-for-sale as of December 31, 2024.
The following tables present the activity in the allowance for credit losses by portfolio and class for the years ended December 31, 2025 and 2024:
Year End December 31, 2025
Commercial and Financial
(In millions)
Commercial Loans
Other Loans(1)
Commercial Real EstateOff-Balance Sheet CommitmentsAll Other Total
Allowance for credit losses:
Beginning balance$68 $4 $102 $9 $— $183 
Provision16 1 41 (1)2 59 
Charge-offs(2)
(15)— (24)— — (39)
Ending balance$69 $5 $119 $8 $2 $203 
(1) Primarily includes $2 million allowance for credit losses on both subscription finance and fund finance loans.
(2) Primarily related to a commercial real estate loan and certain commercial loans in 2025.
Year Ended December 31, 2024
Commercial and Financial
(In millions)
Commercial Loans
Other Loans(1)
Commercial Real EstateHeld-to-Maturity SecuritiesOff-Balance Sheet CommitmentsTotal
Allowance for credit losses:
Beginning balance$72 $3 $60 $1 $14 $150 
Provision13 1 67 (1)(5)75 
Charge-offs(2)
(17)— (25)— — (42)
Ending balance$68 $4 $102 $— $9 $183 
(1) Primarily includes $2 million allowance for credit losses on fund finance loans and $1 million related to subscription finance.
(2) Related to the sale of commercial real estate and commercial loans in 2024.
Loans are reviewed on a regular basis, and any provisions for credit losses that are recorded reflect management’s estimate of the amount necessary to maintain the allowance for loan losses at a level considered appropriate to absorb expected credit losses in the loan portfolio. In 2025, we recorded a $59 million provision for credit losses, primarily reflecting the evolving macroeconomic environment and an increase in loan loss reserves associated with certain commercial real estate and commercial loans. Allowance estimates remain subject to continued model and economic uncertainty and management may use qualitative adjustments in the allowance estimates. If future data and forecasts deviate relative to the forecasts utilized to determine our allowance for credit losses as of December 31, 2025, or if credit risk migration is higher or lower than forecasted for reasons independent of the economic forecast, our allowance for credit losses will also change.
v3.25.4
Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
Goodwill represents the excess of the cost of an acquisition over the fair value of the net tangible and other intangible assets acquired. Goodwill is not amortized, but is reviewed for impairment annually or more frequently if circumstances arise or events occur that indicate an impairment of the carrying amount may exist.
Impairment of goodwill is deemed to exist if the carrying value of a reporting unit, including its allocation of goodwill and other intangible assets, exceeds its estimated fair value. Management reviews goodwill for impairment annually or more frequently if circumstances arise or events occur that indicate an impairment of the carrying amount may exist. We begin our review by first assessing qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Events that may indicate impairment include significant or adverse changes in the business, economic or political climate, an adverse action or assessment by a regulator, unanticipated competition, and a more-likely-than-not expectation that we will sell or otherwise dispose of a business to which the goodwill or other intangible assets relate. If we conclude from the qualitative assessment of goodwill impairment that it is more likely than not that a reporting unit’s fair value is greater than its carrying amount, quantitative tests are not required. However, if we determine it is more likely than not that a reporting unit’s fair value is less than its carrying amount, then we complete a quantitative assessment to determine if there is goodwill impairment. We may elect to bypass the qualitative assessment and complete a quantitative assessment in any given period.
In 2025, we assessed goodwill for impairment using a qualitative assessment. Based on our evaluation of the qualitative factors noted above, we determined it was more likely than not that the fair value of each of the reporting units exceeded its respective carrying amount.
Other intangible assets represent purchased long-lived intangible assets, primarily client relationships, that can be distinguished from goodwill because of contractual rights or because the asset can be exchanged on its own or in combination with a related contract, asset or liability. Other intangible assets are initially measured at their acquisition date fair value, the determination of which requires management judgment, are amortized over their estimated useful lives and are subject to evaluation for impairment. Client relationships are amortized on a straight-line basis over periods ranging from five to twenty years, technology assets are amortized on a straight-line basis over periods ranging from three to ten years, and core deposit intangible assets are amortized on a straight-line basis over periods ranging from sixteen to twenty-two years, with such amortization recorded in other expenses in our consolidated statement of income.
Other intangible assets are supported by the future cash flows that are directly associated with and expected to arise as a direct result of the use of the intangible asset, less any costs associated with the intangible asset’s eventual disposition. We evaluate other intangible assets for impairment at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows from other groups of assets using the following process. First, we routinely assess whether impairment indicators are present. When impairment indicators are identified as being present, we compare the estimated future net undiscounted cash flows of the intangible asset with its carrying value. If the future net undiscounted cash flows are greater than the carrying value, then there is no impairment, but if the intangible asset’s net undiscounted cash flows are less than its carrying value, we are required to calculate impairment. An impairment is recognized by writing the intangible asset down to its fair value through a charge to other expenses in our consolidated statement of income. We evaluate intangible assets for indicators of impairment on a quarterly basis.
There were no impairments of goodwill or other intangible assets in 2025, 2024 and 2023.
The following table presents changes in the carrying amount of goodwill during the periods indicated for each of our goodwill reporting units:
(In millions)Investment
Servicing		Investment
Management		Total
Goodwill:
Ending balance December 31, 2023
$7,346 $265 $7,611 
Acquisitions(1)
189 — 189 
Foreign currency translation(107)(2)(109)
Ending balance December 31, 2024
7,428 263 7,691 
Acquisitions
243 — 243 
Foreign currency translation220 5 225 
Ending balance December 31, 2025
$7,891 $268 $8,159 
(1) Investment Servicing includes the impact of the consolidation of one of our joint ventures in India.
The following table presents changes in the net carrying amount of other intangible assets during the periods indicated:
(In millions)Investment
Servicing		Investment
Management		Total
Other intangible assets:
Ending balance December 31, 2023$1,293 $27 $1,320 
Acquisitions7 13 20 
Amortization(216)(14)(230)
Foreign currency translation(21)— (21)
Ending balance December 31, 20241,063 26 1,089 
Acquisitions34 — 34 
Amortization(216)(7)(223)
Foreign currency translation35 — 35 
Ending balance December 31, 2025$916 $19 $935 
    
The following tables present the gross carrying amount, accumulated amortization and net carrying amount of other intangible assets by type as of the dates indicated:
December 31, 2025Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
(In millions)
Other intangible assets:
Client relationships$2,831 $(2,144)$687 
Technology405 (293)112 
Core deposits703 (597)106 
Other121 (91)30 
Total$4,060 $(3,125)$935 
December 31, 2024Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
(In millions)
Other intangible assets:
Client relationships$2,706 $(1,919)$787 
Technology401 (252)149 
Core deposits677 (540)137 
Other95 (79)16 
Total$3,879 $(2,790)$1,089 
Amortization expense related to other intangible assets was $223 million, $230 million and $239 million in 2025, 2024 and 2023, respectively.
Expected future amortization expense for other intangible assets recorded as of December 31, 2025 is as follows:
(In millions)Future Amortization
Years Ended December 31,
2026$222 
2027185 
2028132 
202968 
2030
56 
v3.25.4
Other Assets
 12 Months Ended
Dec. 31, 2025
Other Assets [Abstract]  
Other Assets Other Assets
The following table presents the components of other assets as of the dates indicated:
(In millions)December 31, 2025December 31, 2024
Securities borrowed(1)
$38,233 $37,451 
Derivative instruments, net4,155 11,183 
Bank-owned life insurance3,965 3,856 
Investments in joint ventures and other unconsolidated entities(2)
3,753 3,317 
Collateral, net1,603 3,216 
Right-of-use assets865 818 
Prepaid expenses837 738 
Deferred tax assets, net of valuation allowance(3)
627 701 
Accounts receivable621 504 
Income taxes receivable256 144 
Receivable for securities settlement102 57 
Other(4)
3,451 2,529 
Total$58,468 $64,514 
(1) Refer to Note 11, for further information on the impact of collateral on our financial statement presentation of securities borrowing and securities lending transactions.
(2) Includes equity securities without readily determinable fair values that are accounted for under the ASC 321 measurement alternative of $585 million and $341 million as of December 31, 2025 and 2024, respectively. For the year ended December 31, 2025, no impairments were recognized in other fee revenue related to such equity securities.
(3) Deferred tax assets and liabilities recorded in our consolidated statement of condition are netted within the same tax jurisdiction.
(4) Includes advances of $1.57 billion and capitalized costs to fulfill contracts with customers of $1.19 billion as of December 31, 2025, compared to $1.04 billion and $0.92 billion, respectively, as of December 31, 2024.
v3.25.4
Deposits
 12 Months Ended
Dec. 31, 2025
Banking and Thrift, Other Disclosure [Abstract]  
Deposits DepositsWe had $2.67 billion and $5.78 billion of time deposits outstanding, of which $0.25 billion and $0.08 billion were non-U.S. time deposits as of December 31, 2025 and 2024, respectively. Time deposits included amounts in excess of the FDIC insurance limits, or other uninsured accounts not subject to any country specific deposit insurance limits, of $2.67 billion and $5.77 billion as of December 31, 2025 and 2024, respectively. As of December 31, 2025, uninsured time deposits of $1.16 billion were scheduled to mature in less than three months and $1.51 billion in three to six months. Demand deposit overdrafts of $1.96 billion and $1.98 billion were included as loan balances at December 31, 2025 and 2024, respectively.
v3.25.4
Short-Term Borrowings
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Short-Term Borrowings Short-Term Borrowings
Our short-term borrowings primarily include securities sold under repurchase agreements and FHLB funding recorded in other short-term borrowings.
Collectively, short-term borrowings had weighted-average interest rates of 4.49% and 5.03% in 2025 and 2024, respectively.
The following tables present information with respect to the amounts outstanding and weighted-average interest rates of the primary components of our short-term borrowings as of and for the years ended December 31:
(Dollars in millions)Securities Sold Under
Repurchase Agreements
Other(1)
2025202420252024
Balance as of December 31$841 $3,681 $3,750 $9,815 
Average outstanding during the year2,198 3,163 9,396 11,128 
Weighted-average interest rate as of year-end0.73 %5.62 %4.33 %4.77 %
Weighted-average interest rate during the year4.32 4.93 4.62 5.19 
(1) Primarily includes FHLB borrowings.
Obligations to repurchase securities sold are recorded as a liability in our consolidated statement of condition. Applicable securities with a fair value of $1.07 billion underlying the repurchase agreements remained in our investment securities portfolio as of December 31, 2025.
The following table presents information about these securities and the carrying value of the related repurchase agreements, including accrued interest, as of December 31, 2025.
 Securities Sold
Repurchase Agreements(1)
(In millions)Amortized
Cost		Fair ValueAmortized
Cost
Overnight maturity$1,058 $1,072 $841 
(1) Collateralized by investment securities.
We maintain an agreement with a clearing organization (FICC) that enables us to net securities purchased under resale agreements and sold under repurchase agreements with counterparties that are also members of the clearing organization when specific netting criteria are met. The impact of this netting was $242.73 billion on average in 2025 compared to $191.26 billion in 2024, primarily due to higher FICC repo volumes.
State Street Bank currently maintains a line of credit of CAD $1.40 billion, or approximately $1.02 billion, as of December 31, 2025, to support its Canadian securities processing operations. The line of credit has no stated termination date and is cancellable by either party with prior notice. As of both December 31, 2025 and 2024, there was no balance outstanding on this line of credit.
v3.25.4
Long-Term Debt
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Long-Term Debt Long-Term Debt
(Dollars in millions)As of December 31,
Issuance DateMaturity DateCoupon RateSeniorityInterest Due Dates20252024
Parent Company and Non-Banking Subsidiary Issuances
February 28, 2025February 28, 20284.536 %Senior notes
2/28; 8/28
$1,346 $— 
October 22, 2024October 22, 20274.330 %Senior notes
4/22, 10/22(2)
1,208 1,189 
August 3, 2023August 3, 20265.272 %Senior notes
2/3; 8/3(2)
1,204 1,203 
November 21, 2023November 21, 20295.684 %Fixed-to-floating rate senior notes
5/21; 11/21(2)
1,009 986 
August 20, 2024February 20, 20294.530 %Fixed-to-floating rate senior notes
2/20; 8/20(2)
1,007 989 
March 18, 2024March 18, 20274.993 %Senior notes
3/18, 9/18(2)
1,004 993 
April 24, 2025April 24, 20304.834 %Senior notes
4/24; 10/24(2)
1,002 — 
May 18, 2023May 18, 20345.159 %Fixed-to-floating rate senior notes5/18; 11/18996 995 
October 23, 2025October 23, 20364.784 %Fixed-to-floating rate senior notes
4/23; 10/23(2)
973 — 
March 3, 2021
March 3, 2031(1)(3)
2.200 %Senior subordinated notes3/3; 9/3846 845 
October 22, 2024October 22, 20324.675 %Fixed-to-floating rate senior notes
4/22; 10/22(2)
813 789 
January 24, 2020
January 24, 2030(1)
2.400 %Senior notes
1/24, 7/24(2)
777 784 
February 28, 2025February 28, 20365.146 %Fixed-to-floating rate senior notes
2/28; 8/28
746 — 
May 19, 2016
May 19, 2026(1)
2.650 %Senior notes
5/19; 11/19(2)
745 728 
January 26, 2023January 26, 20344.821 %Fixed-to-floating rate senior notes
1/26, 7/26(2)
728 702 
April 24, 2025April 24, 20284.543 %Fixed-to-floating rate senior notes
4/24; 10/24(2)
699 — 
August 4, 2022August 4, 20334.164 %Fixed-to-floating rate senior notes
2/4; 8/4(2)
695 665 
February 28, 2025February 28, 20304.729 %Senior notes
2/28; 8/28
647 — 
February 7, 2022February 7, 20282.203 %Fixed-to-floating rate senior notes
2/7; 8/7(2)
634 619 
December 3, 2018December 3, 20294.141 %Fixed-to-floating rate senior notes
6/3; 12/3(2)
536 535 
November 1, 2019
November 1, 2034(3)
3.031 %Fixed-to-floating rate senior subordinated notes
5/1; 11/1(2)
518 523 
November 21, 2023
November 21, 2034(3)
6.123 %Fixed-to-floating rate senior subordinated notes
5/21; 11/21(2)
507 492 
November 4, 2022November 4, 20285.820 %Fixed-to-floating rate senior notes
5/4; 11/4(2)
503 495 
April 30, 2007June 15, 2047 Floating-rate Junior subordinated debentures3/15; 6/15; 9/15; 12/15500 500 
October 29, 2020March 30, 20313.152 %Fixed-to-floating rate senior notes3/30, 9/30499 498 
May 13, 2022May 13, 20334.421 %Fixed-to-floating rate senior notes5/13; 11/13498 498 
November 18, 2021November 18, 20271.684 %Fixed-to-floating rate senior notes
5/18; 11/18(2)
498 497 
February 7, 2022February 7, 20332.623 %Fixed-to-floating rate senior notes
2/7; 8/7(2)
490 465 
August 3, 2023August 3, 2026 Floating-rate Senior notes2/3; 5/3; 8/3; 11/3300 299 
October 22, 2024October 22, 2027 Floating-rate Senior notes1/22; 4/22; 7/22; 10/22299 299 
April 24, 2025April 24, 2028Floating-rateSenior notes
1/24; 4/24; 7/24; 10/24
299 — 
June 21, 1996
June 15, 2026(1)
7.350 %Senior notes6/15; 12/15150 150 
May 15, 1998May 15, 2028 Floating-rate Junior subordinated debentures2/15; 5/15; 8/15; 11/15100 100 
August 18, 2015
August 18, 2025(1)
3.550 %Senior notes
2/18; 8/18(2)
— 1,285 
May 18, 2023
May 18, 2026(4)
5.104 %Fixed-to-floating rate senior notes5/18; 11/18— 999 
January 26, 2023
January 26, 2026(4)
4.857 %Fixed-to-floating rate senior notes
1/26, 7/26(2)
— 499 
November 4, 2022
November 4, 2026(4)
5.751 %Fixed-to-floating rate senior notes
5/4; 11/4(2)
— 498 
March 30, 2020
March 30, 2026(4)
2.901 %Fixed-to-floating rate senior notes
3/30; 9/30(2)
— 497 
February 7, 2022
February 6, 2026(4)
1.746 %Fixed-to-floating rate senior notes
2/6; 8/6(2)
— 299 
State Street Bank issuances and lease obligations
November 25, 2024
November 25, 2026(1)
4.594 %Senior notes
5/25, 11/25
1,148 1,146 
November 25, 2024
November 23, 2029(1)
4.782 %Senior notes
5/23, 11/23
797 796 
November 25, 2024
November 25, 2026(1)
Floating-rateSenior notes
2/25; 5/25; 8/25; 11/25
300 299 
Long-term finance leases and equipment financing122 116 
Total long-term debt$25,143 $23,272 
(1) We may not redeem notes prior to their maturity.
(2) We have entered into interest rate swap agreements, recorded as fair value hedges, to modify our interest expense on these senior and subordinated notes from a fixed rate to a floating rate. As of December 31, 2025 and 2024, these fair value hedges decreased the carrying value of long-term debt by $3 million and $220 million, respectively. Refer to Note 10 for additional information about fair value hedges.
(3) The subordinated notes qualify for inclusion in tier 2 regulatory capital under current federal regulatory capital guidelines.
(4) We redeemed the notes prior to original maturity date.
State Street Bank
As of December 31, 2025 and 2024, $106 million and $79 million, respectively, of long-term finance leases was related to information technology equipment. Refer to Note 20 for additional information.
v3.25.4
Derivative Financial Instruments
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
We use derivative financial instruments to support our clients’ needs and to manage our interest rate, currency and other market risks. These financial instruments consist of FX contracts such as forwards, futures and options contracts; interest rate contracts such as interest rate swaps (cross currency and single currency) and futures; and other derivative contracts. Derivative instruments used for risk management purposes that are highly effective in offsetting the risk being hedged are generally designated as hedging instruments in hedge accounting relationships, while others are economic hedges and not designated in hedge accounting relationships. Derivatives in hedge accounting relationships are disclosed according to the type of hedge, such as fair value, cash flow or net investment. Derivatives designated as hedging instruments in hedge accounting relationships are carried at fair value with change in fair value recognized in the consolidated statement of income or other comprehensive income (OCI), as appropriate. Derivatives not designated in hedge accounting relationships include those derivatives entered into to support client needs and derivatives used to manage interest rate, currency and other market risks associated with certain assets and liabilities. Such derivatives are carried at fair value with changes in fair value recognized in the consolidated statement of income.
Derivatives Not Designated as Hedging Instruments
We provide foreign exchange forward contracts and options in support of our client needs, and also act as a dealer in the currency markets. As part of our trading activities, we assume positions in both the foreign exchange and interest rate markets by buying and selling cash instruments and using derivative financial instruments, including foreign exchange forward contracts, foreign exchange and interest rate options, interest rate forward contracts, and interest rate futures. The entire change in the fair value of derivatives utilized in our trading activities are recorded in foreign exchange trading services revenue. We also utilize derivatives in our asset and liability management activities and to manage other market risks. The entire change in fair value of such derivatives are recorded in net interest income and other fee revenue, respectively.
We enter into stable value wrap derivative contracts with unaffiliated stable value funds that allow a stable value fund to provide book value coverage to its participants. These derivatives contracts qualify as guarantees as described in Note 12.
We grant deferred cash awards to certain of our employees as part of our employee incentive compensation plans. We account for these awards as derivative financial instruments, as the underlying referenced shares are not equity instruments of ours. The fair value of these derivatives is referenced to the value of units in State Street-sponsored investment funds or funds sponsored by other unrelated entities. We re-measure these derivatives to fair value quarterly, and record the change in value in compensation and employee benefits expenses in our consolidated statement of income.
Derivatives Designated as Hedging Instruments
In connection with our asset and liability management activities, we use derivative financial instruments to manage our interest rate risk and foreign currency risk for certain assets and liabilities. At both the inception of the hedge and on an ongoing basis, we formally assess and document the effectiveness of a derivative designated in a hedging relationship and the likelihood that the derivative will be an effective hedge in future periods. We discontinue hedge accounting prospectively when we determine that the derivative is no longer highly effective in offsetting changes in fair value or cash flows of the underlying risk being hedged, the derivative expires, terminates or is sold, or management discontinues the hedge designation.
The risk management objective of a highly effective hedging strategy that qualifies for hedge accounting must be formally documented. The hedge documentation includes the derivative hedging instrument, the asset or liability or forecasted transaction, type of risk being hedged and method for assessing hedge effectiveness of the derivative prospectively and retrospectively. We use quantitative methods including regression analysis and cumulative dollar offset method, comparing the change in the fair value of the derivative to the change in fair value or the cash flows of the hedged item. We may also utilize qualitative methods such as matching critical terms and evaluation of any changes in those critical terms. Effectiveness is assessed and documented quarterly and if determined that the derivative is not highly effective at hedging the designated risk hedge accounting is discontinued.
Fair Value Hedges
Derivatives designated as fair value hedges are utilized to mitigate the risk of changes in the fair values of recognized assets and liabilities, including
long-term debt and AFS securities. We use interest rate and FX contracts in this manner to manage our exposure to changes in the fair value of hedged items caused by changes in interest rates and FX rates, respectively.
Changes in the fair value of the derivative and changes in fair value of the hedged item due to changes in the hedged risk are recognized in earnings in the same line item. If a hedge is terminated, but the hedged item was not derecognized, all remaining adjustments to the carrying amount of the hedged item are amortized over a period that is consistent with the amortization of other discounts or premiums associated with the hedged item.
Cash Flow Hedges
Derivatives designated as cash flow hedges are utilized to offset the variability of cash flows of recognized assets, liabilities or forecasted transactions. We have entered into FX contracts to hedge the change in cash flows attributable to FX movements in foreign currency denominated investment securities. Additionally, we have entered into interest rate swap agreements to hedge the forecasted cash flows associated with EURIBOR indexed floating-rate loans and Deposit Facility Interest Rate (DFR) indexed ECB deposits. The interest rate swaps synthetically convert the interest receipts from a variable-rate to a fixed-rate, thereby mitigating the risk attributable to changes in the EURIBOR and DFR.
Changes in fair value of the derivatives designated as cash flow hedges are initially recorded in AOCI and then reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings and are presented in the same income statement line item as the earnings effect of the hedged item. If the hedge relationship is terminated, the change in fair value on the derivative recorded in AOCI is reclassified into earnings consistent with the timing of the hedged item. During the fourth quarter of 2025 approximately $31 million of net losses associated with terminated cash flow hedges were reclassified from AOCI, and we expect net losses of approximately $29 million to be reclassified from AOCI in the first quarter of 2026. The net loss associated with cash flow hedges expected to be reclassified from AOCI within 12 months of December 31, 2025 is approximately $42 million, which includes a net loss of approximately $48 million related to terminated hedges. These losses could differ from amounts recognized in future periods due to changes in interest rates, hedge de-designations or the addition
of other hedges after December 31, 2025. For hedge relationships that are discontinued because a forecasted transaction is not expected to occur according to the original hedge terms, any related derivative values recorded in AOCI are immediately recognized in earnings. The maximum length of time over which forecasted cash flows are hedged is 5 years.
Net Investment Hedges
Derivatives categorized as net investment hedges are entered into to protect the net investment in our foreign operations against adverse changes in exchange rates. We use FX forward contracts to convert the foreign currency risk to U.S. dollars to mitigate our exposure to fluctuations in FX rates. The changes in fair value of the FX forward contracts are recorded, net of taxes, in the foreign currency translation component of OCI.
The following table presents the aggregate contractual, or notional, amounts of derivative financial instruments including those entered into for trading and asset and liability management activities as of the dates indicated:
(In millions)December 31, 2025December 31, 2024
Derivatives not designated as hedging instruments:
Interest rate contracts:
Futures$97,035 $47,222 
Foreign exchange contracts:
Forward, swap and spot2,768,458 2,612,945 
Options purchased436 466 
Options written110 145 
Futures472 359 
Other:
Futures159 155 
Stable value contracts(1)
12,271 25,271 
Deferred value awards(2)
222 253 
Derivatives designated as hedging instruments:
Interest rate contracts:
Swap agreements42,708 33,302 
Foreign exchange contracts:
Forward and swap12,350 10,260 
(1) The notional value of the stable value contracts represents our maximum exposure. However, exposure to various stable value contracts is generally contractually limited to substantially lower amounts than the notional values.
(2) Represents grants of deferred value awards to employees; refer to discussion in this note under “Derivatives Not Designated as Hedging Instruments.”
Notional amounts are provided here as an indication of the volume of our derivative activity and serve as a reference to calculate the fair values of the derivative.
The following table presents the fair value of derivative financial instruments, excluding the impact of master netting agreements, recorded in our consolidated statement of condition as of the dates indicated. Fair value measurement for derivatives is further discussed in Note 2, and the impact of master netting agreements is provided in Note 11.
Derivative Assets(1)
Derivative Liabilities(2)
(In millions)December 31, 2025December 31, 2024December 31, 2025December 31, 2024
Derivatives not designated as hedging instruments:
Foreign exchange contracts$14,200 $29,116 $13,993 $28,904 
Other derivative contracts1 1 159 219 
Total$14,201 $29,117 $14,152 $29,123 
Derivatives designated as hedging instruments:
Foreign exchange contracts$24 $323 $104 $— 
Interest rate contracts34 28 5 1 
Total$58 $351 $109 $1 
(1) Derivative assets are included within other assets in our consolidated statement of condition.
(2) Derivative liabilities are included within accrued expenses and other liabilities in our consolidated statement of condition.
The following table presents the impact of our use of derivative financial instruments on our consolidated statement of income for the periods indicated:
Years Ended December 31,
202520242023
(In millions)Location of Gain (Loss) on
Derivative in Consolidated
Statement of Income		Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income
Derivatives not designated as hedging instruments:
Foreign exchange contractsForeign exchange trading services revenue$1,040 $862 $803 
Foreign exchange contractsInterest expense191 274 (54)
Interest rate contractsForeign exchange trading services revenue(3)21 (2)
Other derivative contracts
Other fee revenue(10)(12)(3)
Other derivative contracts(1)
Compensation and employee benefits(81)(189)(121)
Total$1,137 $956 $623 
(1) Amount in 2024 reflects a deferred compensation expense acceleration of $79 million.
The following tables show the carrying amount and associated cumulative basis adjustments related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships:
December 31, 2025
Cumulative Fair Value Hedging Adjustment Increasing (Decreasing) the carrying amount
(In millions)Carrying Amount of Hedged Assets/LiabilitiesActive
De-designated(1)
Long-term debt$15,553 $(76)$72 
Available-for-sale securities(2)(3)
22,804 99 — 
December 31, 2024
Cumulative Fair Value Hedging Adjustment Increasing (Decreasing) the carrying amount
(In millions)Carrying Amount of Hedged Assets/LiabilitiesActive
De-designated(1)
Long-term debt$15,951 $(323)$103 
Available-for-sale securities(2)(3)
18,666 (376)1 
(1) Represents hedged items no longer designated in qualifying fair value hedging relationships for which an associated basis adjustment exists at the balance sheet date.
(2) Included in these amounts is the amortized cost of the financial assets designated in under the portfolio layer hedging relationships (hedged item is the hedged layer of a closed portfolio of financial assets expected to remain outstanding at the end of the hedging relationship). At December 31, 2025 and 2024, the amortized cost of the closed portfolios used in these hedging relationships was $3.30 billion and $3.32 billion, respectively, of which $1.73 billion and $1.82 billion, respectively, was designated under the portfolio layer hedging relationship. At December 31, 2025 and 2024, the cumulative adjustment associated with these hedging relationships was $21 million and $(26) million, respectively.
(3) Carrying amount represents amortized cost.
As of December 31, 2025 and 2024, the total notional amount of the interest rate swaps of fair value hedges was $36.12 billion and $31.12 billion, respectively.
The following tables present the impact of our use of derivative financial instruments on our consolidated statement of income for the periods indicated:
Years Ended December 31,Years Ended December 31,
202520242023202520242023
(In millions)
Location of Gain (Loss) on Derivative in Consolidated Statement of Income
Amount of Gain
(Loss) on Derivative
Recognized in
Consolidated
Statement of Income
Hedged Item in Fair Value Hedging Relationship
Location of Gain (Loss) on Hedged Item in Consolidated Statement of Income
Amount of Gain
(Loss) on Hedged
Item Recognized in
Consolidated
Statement of Income
Derivatives designated as fair value hedges:
Interest rate contractsNet interest income$(424)$(55)$(164)
Available-for-sale securities(1)
Net interest income
$423 $55 $164 
Interest rate contractsNet interest income247 17 202 Long-term debtNet interest income(247)(17)(202)
Foreign exchange contracts
Other fee revenue
(18)21 — 
Available-for-sale securities
Other fee revenue
18 (21)— 
Total$(195)$(17)$38 $194 $17 $(38)
(1) For the year ended December 31, 2025, approximately $362 million of net unrealized losses on AFS investment securities designated in fair value hedges were recognized in OCI compared to approximately $93 million of net unrealized losses in the same period of 2024.
Years Ended December 31,Years Ended December 31,
202520242023Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income202520242023
(In millions)
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
Derivatives designated as cash flow hedges:
Interest rate contracts(1)
$(7)$(6)$14 Net interest income$(136)$(200)$(210)
Foreign exchange contracts— 59 91 Net interest income— 254 2 
Total derivatives designated as cash flow hedges$(7)$53 $105 $(136)$54 $(208)
Derivatives designated as net investment hedges:
Foreign exchange contracts$(783)$540 $(89)$— $— $— 
Total derivatives designated as net investment hedges(783)540 (89)— — — 
Total$(790)$593 $16 $(136)$54 $(208)
(1) As of December 31, 2025, the maximum maturity date of the underlying hedged items is approximately 5.0 years.
Derivatives Netting and Credit Contingencies
Netting
Derivatives receivable and payable as well as cash collateral from the same counterparty are netted in the consolidated statement of condition for those counterparties with whom we have legally binding master netting agreements in place. In addition to cash collateral received and transferred presented on a net basis, we also receive and transfer collateral in the form of securities, which mitigate credit risk but are not eligible for netting. Additional information on netting is provided in Note 11.
Credit Contingencies
Certain of our derivatives are subject to master netting agreements with our derivative counterparties containing credit risk-related contingent features, which requires us to maintain an investment grade credit rating with the various credit rating agencies. If our rating falls below investment grade, we would be in violation of the provisions, and counterparties to the derivatives could request immediate payment or demand full overnight collateralization on derivative instruments in liability positions. The aggregate fair value of all derivatives with credit contingent features and in a net liability position as of December 31, 2025 totaled approximately $3.49 billion, against which we provided $1.84 billion of collateral in the normal course of business. If our credit related contingent features underlying these agreements were triggered as of December 31, 2025, the maximum additional collateral we would be required to post to our counterparties is approximately $1.65 billion.
v3.25.4
Offsetting Arrangements
 12 Months Ended
Dec. 31, 2025
Offsetting [Abstract]  
Offsetting Arrangements Offsetting Arrangements
Certain of our transactions are subject to master netting agreements that allow us to net receivables and payables by contract and settlement type. For those legally enforceable contracts, we net receivables and payables with the same counterparty on our statement of condition.
In addition to netting receivables and payables with our derivatives counterparty where a legal and enforceable netting arrangement exists, we also net related cash collateral received and transferred up to the fair value exposure amount.
With respect to our securities financing arrangements, we net balances outstanding on our consolidated statement of condition for those transactions that met the netting requirements and were transacted under a legally enforceable netting arrangement with the counterparty.
Securities received as collateral under securities financing or derivatives transactions can be transferred as collateral in many instances. The securities received as proceeds under secured lending transactions are recorded at a value that approximates fair value in other assets in our consolidated statement of condition with a related liability to return the collateral, if we have the right to transfer or re-pledge the collateral.
As of December 31, 2025 and 2024, the value of securities received as collateral from third parties where we are permitted to transfer or re-pledge the securities totaled $19.21 billion and $11.41 billion, respectively, and the fair value of the portion that had been transferred or re-pledged as of the same dates was $12.11 billion and $2.76 billion, respectively.
The following tables present information about the offsetting of assets related to derivative contracts and secured financing transactions, as of the dates indicated:
Assets:December 31, 2025
Gross Amounts of Recognized
Assets(1)(2)
Gross Amounts Offset in Statement of Condition(3)
Net Amounts of Assets Presented in Statement of ConditionGross Amounts Not Offset in Statement of Condition
(In millions)
Cash and Securities Received(4)
Net Amount(5)
Derivatives:
Foreign exchange contracts
$14,224 $(7,618)$6,606 $— $6,606 
Interest rate contracts(6)
34 (5)29 — 29 
Other derivative contracts
1 — 1 — 1 
Cash collateral and securities netting
NA(2,481)(2,481)(956)(3,437)
Total derivatives
14,259 (10,104)4,155 (956)3,199 
Other financial instruments:
Resale agreements and securities borrowing(7)(8)
297,824 (252,779)45,045 (42,683)2,362 
Total derivatives and other financial instruments$312,083 $(262,883)$49,200 $(43,639)$5,561 
Assets:December 31, 2024
Gross Amounts of Recognized
Assets(1)(2)
Gross Amounts Offset in Statement of Condition(3)
Net Amounts of Assets Presented in Statement of ConditionGross Amounts Not Offset in Statement of Condition
(In millions)
Cash and Securities Received(4)
Net Amount(5)
Derivatives:
Foreign exchange contracts
$29,439 $(16,424)$13,015 $— $13,015 
Interest rate contracts(6)
28 (1)27 — 27 
Other derivative contracts
1 — 1 — 1 
Cash collateral and securities netting
NA(1,860)(1,860)(1,197)(3,057)
Total derivatives
29,468 (18,285)11,183 (1,197)9,986 
Other financial instruments:
Resale agreements and securities borrowing(7)(8)
276,151 (232,021)44,130 (42,589)1,541 
Total derivatives and other financial instruments$305,619 $(250,306)$55,313 $(43,786)$11,527 
(1) Amounts include all transactions regardless of whether or not they are subject to an enforceable netting arrangement.
(2) Refer to Note 1 and Note 2 for additional information about the measurement basis of derivative instruments.
(3) Amounts subject to netting arrangements which have been determined to be legally enforceable and eligible for netting in the consolidated statement of condition.
(4) Includes securities in connection with our securities borrowing transactions.
(5) Includes amounts secured by collateral not determined to be subject to enforceable netting arrangements.
(6) Variation margin payments presented as settlements rather than collateral.
(7) Included in the $45.05 billion as of December 31, 2025 were $6.81 billion of resale agreements and $38.24 billion of collateral provided related to securities borrowing. Included in the $44.13 billion as of December 31, 2024 were $6.68 billion of resale agreements and $37.45 billion of collateral provided related to securities borrowing. Resale agreements and collateral provided related to securities borrowing were recorded in securities purchased under resale agreements and other assets, respectively, in our consolidated statement of condition. Refer to Note 12 for additional information with respect to principal securities finance transactions.
(8) Offsetting of resale agreements primarily relates to our involvement in FICC, where we settle transactions on a net basis for payment and delivery through the Fedwire system.
NA Not applicable
The following tables present information about the offsetting of liabilities related to derivative contracts and secured financing transactions, as of the dates indicated:
Liabilities:December 31, 2025
Gross Amounts of Recognized Liabilities(1)(2)
Gross Amounts Offset in Statement of Condition(3)
Net Amounts of Liabilities Presented in Statement of ConditionGross Amounts Not Offset in Statement of Condition
(In millions)
Cash and Securities Received(4)
Net Amount(5)
Derivatives:
Foreign exchange contracts$14,097 $(7,617)$6,480 $— $6,480 
Interest rate contracts(6)
5 (5)— — — 
Other derivative contracts159 — 159 — 159 
Cash collateral and securities nettingNA(1,614)(1,614)(757)(2,371)
Total derivatives14,261 (9,236)5,025 (757)4,268 
Other financial instruments:
Repurchase agreements and securities lending(7)(8)
273,785 (252,779)21,006 (20,165)841 
Total derivatives and other financial instruments$288,046 $(262,015)$26,031 $(20,922)$5,109 
Liabilities:December 31, 2024
Gross Amounts of Recognized Liabilities(1)(2)
Gross Amounts Offset in Statement of Condition(3)
Net Amounts of Liabilities Presented in Statement of ConditionGross Amounts Not Offset in Statement of Condition
(In millions)
Cash and Securities Received(4)
Net Amount(5)
Derivatives:
Foreign exchange contracts$28,904 $(16,424)$12,480 $— $12,480 
Interest rate contracts(6)
1 (1)— — — 
Other derivative contracts219 — 219 — 219 
Cash collateral and securities nettingNA(6,103)(6,103)(1,572)(7,675)
Total derivatives29,124 (22,528)6,596 (1,572)5,024 
Other financial instruments:
Repurchase agreements and securities lending(7)(8)
250,032 (232,021)18,011 (17,835)176 
Total derivatives and other financial instruments$279,156 $(254,549)$24,607 $(19,407)$5,200 
(1) Amounts include all transactions regardless of whether or not they are subject to an enforceable netting arrangement.
(2) Refer to Note 1 and Note 2 for additional information about the measurement basis of derivative instruments.
(3) Amounts subject to netting arrangements which have been determined to be legally enforceable and eligible for netting in the consolidated statement of condition.
(4) Includes securities provided in connection with our securities lending transactions.
(5) Includes amounts secured by collateral not determined to be subject to enforceable netting arrangements.
(6) Variation margin payments presented as settlements rather than collateral.
(7) Included in the $21.01 billion as of December 31, 2025 were $0.84 billion of repurchase agreements and $20.17 billion of collateral received related to securities lending transactions. Included in the $18.01 billion as of December 31, 2024 were $3.68 billion of repurchase agreements and $14.33 billion of collateral received related to securities lending transactions. Repurchase agreements and collateral received related to securities lending were recorded in securities sold under repurchase agreements and accrued expenses and other liabilities, respectively, in our consolidated statement of condition. Refer to Note 12 for additional information with respect to principal securities finance transactions.
(8) Offsetting of repurchase agreements primarily relates to our involvement in FICC, where we settle transactions on a net basis for payment and delivery through the Fedwire system.
NA Not applicable
The securities transferred under resale and repurchase agreements typically are U.S. Treasury, agency and agency MBS. In our principal securities borrowing and lending arrangements, the securities transferred are predominantly equity securities and some corporate debt securities. The fair value of the securities transferred may increase in value to an amount greater than the amount received under our repurchase and securities lending arrangements, which exposes us to counterparty risk. We require the review of the price of the underlying securities in relation to the carrying value of the repurchase agreements and securities lending arrangements on a daily basis and when appropriate, adjust the cash or security to be obtained or returned to counterparties that is reflective of the required collateral levels.
The following table summarizes our repurchase agreements and securities lending transactions by category of collateral pledged and remaining maturity of these agreements as of the periods indicated:
As of December 31, 2025As of December 31, 2024
(In millions)Overnight and ContinuousUp to 30 Days30-90 DaysGreater than 90 DaysTotalOvernight and ContinuousUp to 30 Days30-90 DaysGreater than 90 DaysTotal
Repurchase agreements:
U.S. Treasury and agency securities$243,596 $— $— $— $243,596 $223,095 $350 $1,277 $2,500 $227,222 
Total243,596 — — — 243,596 223,095 350 1,277 2,500 227,222 
Securities lending transactions:
U.S. Treasury and agency securities
175 — — — 175 152 — — — 152 
Corporate debt securities29 — — — 29 193 — — — 193 
Equity securities11,279 — 1 3,215 14,495 11,181 13 — 4,519 15,713 
Other(1)
15,490 — — — 15,490 6,752 — — — 6,752 
Total26,973 — 1 3,215 30,189 18,278 13 — 4,519 22,810 
Gross amount of recognized liabilities for repurchase agreements and securities lending$270,569 $— $1 $3,215 $273,785 $241,373 $363 $1,277 $7,019 $250,032 
(1) Represents a security interest in underlying client assets related to our prime services business, which assets clients have allowed us to transfer and re-pledge.
v3.25.4
Commitments and Guarantees
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Guarantees Commitments and Guarantees
The following table presents the aggregate gross contractual amounts of our off-balance sheet commitments and guarantees, as of the dates indicated:
(In millions)December 31, 2025December 31, 2024
Commitments:
Unfunded credit facilities$35,697 $34,191 
Guarantees(1):
Indemnified securities financing$371,968 $310,814 
Standby letters of credit569 908 
(1) The potential losses associated with these guarantees equal the gross contractual amounts and do not consider the value of any collateral or reflect any participations to independent third parties.
Unfunded Credit Facilities
Unfunded credit facilities consist primarily of liquidity facilities provided to our fund and municipal counterparties, as well as commitments to purchase commercial real estate and commercial loans that have not yet settled.
As of December 31, 2025, approximately 70% of our unfunded commitments to extend credit expire within one year. Since many of these commitments are expected to expire or renew without being drawn upon, the gross contractual amounts do not necessarily represent our future cash requirements.
Indemnified Securities Financing
On behalf of our clients, we lend their securities, as agent, to brokers and other institutions. In most circumstances, we indemnify our clients for the fair market value of those securities against a failure of the borrower to return such securities. We require the borrowers to maintain collateral in an amount in excess of 100% of the fair market value of the securities borrowed. Securities on loan and the collateral are revalued daily to determine if additional collateral is necessary or if excess collateral is required to be returned to the borrower. Collateral received in connection with our securities lending services is held by us as agent and is not recorded in our consolidated statement of condition.
The cash collateral held by us as agent is invested on behalf of our clients. In certain cases, the cash collateral is invested in third-party repurchase agreements, for which we indemnify the client against the loss of the principal invested. We require the counterparty to the indemnified repurchase agreement to provide collateral in an amount in excess of 100% of the amount of the repurchase agreement. In our role as agent, the indemnified repurchase agreements and the related collateral held by us are not recorded in our consolidated statement of condition.
The following table summarizes the aggregate fair values of indemnified securities financing and related collateral, as well as collateral invested in indemnified repurchase agreements, as of the dates indicated:
(In millions)December 31, 2025December 31, 2024
Fair value of indemnified securities financing$371,968 $310,814 
Fair value of cash and securities held by us, as agent, as collateral for indemnified securities financing393,584 325,611 
Fair value of collateral for indemnified securities financing invested in indemnified repurchase agreements51,762 63,655 
Fair value of cash and securities held by us or our agents as collateral for investments in indemnified repurchase agreements55,943 68,507 
In certain cases, we participate in securities finance transactions as a principal. As a principal, we borrow securities from the lending client and then lend such securities to the subsequent borrower, either our client or a broker/dealer. Our right to receive and obligation to return collateral in connection with our securities lending transactions are recorded in other assets and accrued expenses and other liabilities, respectively, in our consolidated statement of condition. As of December 31, 2025 and 2024, we had approximately $38.24 billion and $37.45 billion, respectively, of collateral provided and approximately $20.17 billion and $14.33 billion, respectively, of collateral received from clients in connection with our participation in principal securities finance transactions.
Stable Value Protection
Stable value funds wrapped by us are high quality diversified portfolios of short intermediate duration fixed-income investments. Stable value contracts are derivative contracts that also qualify as guarantees. The notional amount under non-hedging derivatives, provided in Note 10, generally represents our maximum exposure under these derivatives contracts. However, exposure to various stable value contracts is contractually limited to substantially lower amounts than the notional values, which represent the total assets of the stable value funds.
Standby Letters of Credit
Standby letters of credit provide credit enhancement to our municipal clients to support the issuance of capital markets financing.
FICC Guarantee
We are a direct and sponsoring member of FICC. As a sponsoring member within FICC, we enter into repurchase and resale transactions in eligible securities with sponsored clients and with other FICC members and, pursuant to FICC Government Securities Division rules, submit, novate and net the
transactions. We may sponsor clients to clear their eligible repurchase transactions with FICC, backed by our guarantee to FICC of the prompt and full payment and performance of our sponsored member clients’ respective obligations. We generally obtain a security interest from our sponsored clients in the high quality securities collateral that they receive, which is designed to mitigate our potential exposure to FICC.
Additionally, as a member of certain industry clearing and settlement exchanges, we may be required to pay a pro rata share of the losses incurred by the organization and provide liquidity support in the event of the default of another member to the extent that the defaulting member’s clearing fund obligation and the prescribed loss allocation is depleted. It is difficult to estimate our maximum possible exposure under the membership agreements, since this would require an assessment of future claims that may be made against us that have not yet occurred. At both December 31, 2025 and 2024, we did not record any liabilities under these arrangements.
For additional information on our repurchase and reverse repurchase agreements, please refer to Note 11 to the consolidated financial statements in this Form 10-K.
v3.25.4
Contingencies
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Contingencies Contingencies
Legal and Regulatory Matters
In the ordinary course of business, we and our subsidiaries are involved in disputes, litigation, and governmental or regulatory inquiries and investigations, both pending and threatened. These matters, if resolved adversely against us or settled, may result in monetary awards or payments, fines and penalties or require changes in our business practices. The resolution or settlement of these matters is inherently difficult to predict. Based on our assessment of these pending matters, we do not believe that the amount of any judgment, settlement or other action arising from any pending matter is likely to have a material adverse effect on our consolidated financial condition. However, an adverse outcome or development in certain of the matters described below could have a material adverse effect on our consolidated results of operations for the period in which such matter is resolved, or an accrual is determined to be required, on our consolidated financial condition, or on our reputation.
We evaluate our needs for accruals of loss contingencies related to legal and regulatory proceedings on a case-by-case basis. When we have a liability that we deem probable, and we deem the amount of such liability can be reasonably estimated as of the date of our consolidated financial statements, we accrue our estimate of the amount of
loss. We also consider a loss probable and establish an accrual when we make, or intend to make, an offer of settlement. Once established, an accrual is subject to subsequent adjustment as a result of additional information. The resolution of legal and regulatory proceedings and the amount of reasonably estimable loss (or range thereof) are inherently difficult to predict, especially in the early stages of proceedings. Even if a loss is probable, an amount (or range) of loss might not be reasonably estimated until the later stages of the proceeding due to many factors such as the presence of complex or novel legal theories, the discretion of governmental authorities in seeking sanctions or negotiating resolutions in civil and criminal matters, the pace and timing of discovery and other assessments of facts and the procedural posture of the matter (collectively, “factors influencing reasonable estimates”).
As of December 31, 2025, our aggregate accruals for loss contingencies for legal, regulatory and related matters totaled approximately $43 million, including potential fines by government agencies and civil litigation with respect to the matters specifically discussed below. To the extent that we have established accruals in our consolidated statement of condition for probable loss contingencies, such accruals may not be sufficient to cover our ultimate financial exposure associated with any settlements or judgments. Any such ultimate financial exposure, or proceedings to which we may become subject in the future, could have a material adverse effect on our businesses, on our future consolidated financial statements or on our reputation.
As of December 31, 2025, for those matters for which we have accrued probable loss contingencies and for other matters for which loss is reasonably possible (but not probable) in future periods, and for which we are able to estimate a range of reasonably possible loss, our estimate of the aggregate reasonably possible loss (in excess of any accrued amounts) ranges up to approximately $60 million. Our estimate with respect to the aggregate reasonably possible loss is based upon currently available information and is subject to significant judgment and a variety of assumptions and known and unknown uncertainties, which may change quickly and significantly from time to time, particularly if and as we engage with applicable governmental agencies or plaintiffs in connection with a proceeding. Also, the matters underlying the reasonably possible loss will change from time to time. As a result, actual results may vary significantly from the current estimate.
In certain pending matters, it is not currently feasible to reasonably estimate the amount or a range of reasonably possible loss, and such losses, which may be significant, are not included in the estimate of reasonably possible loss discussed
above. This is due to, among other factors, the factors influencing reasonable estimates described above. An adverse outcome in one or more of the matters for which we have not estimated the amount or a range of reasonably possible loss, individually or in the aggregate, could have a material adverse effect on our businesses, on our future consolidated financial statements or on our reputation. Given that our actual losses from any legal or regulatory proceeding for which we have provided an estimate of the reasonably possible loss could significantly exceed such estimate, and given that we cannot estimate reasonably possible loss for all legal and regulatory proceedings as to which we may be subject now or in the future, no conclusion as to our ultimate exposure from current pending or potential legal or regulatory proceedings should be drawn from the current estimate of reasonably possible loss.
The following discussion provides information with respect to significant legal, governmental and regulatory matters.
Edmar Financial Company, LLC et al v. Currenex, Inc. et al
In August 2021, two former Currenex clients filed a putative civil class action lawsuit in the Southern District of New York alleging antitrust violations, fraud and a civil Racketeer Influenced and Corrupt Organization Act violation against Currenex, State Street and others.
Pension Risk Transfer Litigation
State Street Global Advisors Trust Company (Trust Co) is named as a defendant in a series of purported class action complaints filed by participants in pension plans where, in each case, Trust Co was hired as independent fiduciary on behalf of the pension plan to conduct an ERISA-compliant due diligence review of potential insurers who could assume the plan’s liabilities and satisfy its payment obligations through the purchase of a group annuity contract, consistent with DOL guidance. The complaints, collectively, allege violations of ERISA’s fiduciary and prohibited transaction rules against Trust Co, the plan sponsors, and others.
German Tax Matter
In connection with a routine audit including the period 2013-2015, German tax authorities have determined that State Street should have withheld, and is secondarily liable for, certain taxes on dividends paid on securities of German issuers held as collateral over dividend record dates in client lending transactions with counterparties outside of Germany. This determination is subject to review in proceedings in which State Street will in due course contest these conclusions, in addition to separately seeking relief from those determined to be primarily liable.
State of Texas et al v. Blackrock, Inc. et al
In November 2024, eleven state Attorneys General filed a complaint in Federal Court in the Eastern District of Texas against State Street, BlackRock and Vanguard, alleging antitrust violations on the theory that the three companies conspired to artificially suppress coal supply, resulting in harm to American consumers in the form of higher electricity costs.
Income Taxes
In determining our provision for income taxes, we make certain judgments and interpretations with respect to tax laws in jurisdictions in which we have business operations. Because of the complex nature of these laws, in the normal course of our business, we are subject to challenges from U.S. and non-U.S. income tax authorities regarding the amount of income taxes due. These challenges may result in adjustments to the timing or amount of taxable income or deductions or the allocation of taxable income among tax jurisdictions. We recognize a tax benefit when it is more likely than not that our position will result in a tax deduction or credit. Unrecognized tax benefits were approximately $248 million and $237 million as of December 31, 2025 and 2024, respectively.
We are presently under audit by a number of tax authorities. The earliest tax year open to examination in jurisdictions where we have material operations is 2018. Management believes that we have sufficiently accrued liabilities as of December 31, 2025 for potential tax exposures.
v3.25.4
Variable Interest Entities
 12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Variable Interest Entities Variable Interest Entities
We are involved, in the normal course of our business, with various types of special purpose entities, some of which meet the definition of VIEs. When evaluating a VIE for consolidation, we must determine whether or not we have a variable interest in the entity. Variable interests are investments or other interests that absorb portions of an entity’s expected losses or receive portions of the entity’s expected returns. If it is determined that we do not have a variable interest in the VIE, no further analysis is required and we do not consolidate the VIE. If we hold a variable interest in a VIE, we are required by U.S. GAAP to consolidate that VIE when we have a controlling financial interest in the VIE and therefore are deemed to be the primary beneficiary. We are determined to have a controlling financial interest in a VIE when we have both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to that VIE. This determination is evaluated periodically as facts and circumstances change.
Asset-Backed Investment Securities
We invest in various forms of ABS, which we carry in our investment securities portfolio. These ABS meet the U.S. GAAP definition of asset securitization entities, which are considered to be VIEs. We are not considered to be the primary beneficiary of these VIEs since we do not have control over their activities. Additional information about our ABS is provided in Note 3.
Interests in Investment Funds
In the normal course of business, we manage various types of investment funds through State Street Investment Management in which our clients are investors, including State Street Investment Management commingled investment vehicles and other similar investment structures. The majority of our AUM are contained within such funds. The services we provide to these funds generate management fee revenue. From time to time, we may invest cash in the funds in order for the funds to establish a performance history for newly-launched strategies, referred to as seed capital, or for other purposes.
With respect to our interests in funds that meet the definition of a VIE, a primary beneficiary assessment is performed to determine if we have a controlling financial interest. As part of our assessment, we consider all the facts and circumstances regarding the terms and characteristics of the variable interest(s), the design and characteristics of the fund and the other involvements of the enterprise with the fund. If consolidation of certain funds is required, we retain the specialized investment company accounting rules followed by the underlying funds. When we no longer control these funds due to a reduced ownership interest or other reasons, the funds are de-consolidated and accounted for under another accounting method if we continue to maintain investments in the funds.
As of both December 31, 2025 and 2024, we had no consolidated funds. As of December 31, 2025 and 2024, we managed certain funds, considered VIEs, in which we held a variable interest but for which we were not deemed to be the primary beneficiary. Our potential maximum loss exposure related to these unconsolidated funds totaled $22 million and $19 million as of December 31, 2025 and 2024, respectively, and represented the carrying value of our investments, which are recorded in other assets in our consolidated statement of condition. The amount of loss we may recognize during any period is limited to the carrying amount of our investments in the unconsolidated funds.
Our conclusion to consolidate a fund may vary from period to period, most commonly as a result of
fluctuation in our ownership interest as a result of changes in the number of fund shares held by either us or by third parties. Given that the funds follow specialized investment company accounting rules which prescribe fair value, a de-consolidation generally would not result in gains or losses for us.
The net assets of any consolidated fund are solely available to settle the liabilities of the fund and to settle any investors’ ownership redemption requests, including any seed capital invested in the fund by us. We are not contractually required to provide financial or any other support to any of our funds. In addition, neither creditors nor equity investors in the funds have any recourse to our general credit.
We also held investments in low-income housing, production and investment tax credit entities, considered VIEs for which we were not deemed to be the primary beneficiary. As of December 31, 2025 and 2024, our potential maximum loss exposure related to these unconsolidated entities totaled $0.96 billion and $1.10 billion, respectively, most of which represented the carrying value of our investments, which are recorded in other assets in our consolidated statement of condition.
We account for our low-income housing tax credit investments (LIHTC) and production tax credit investments under the proportional amortization method. Under the proportional amortization method, the initial cost of the investment is amortized based on a percentage of the actual income tax credits and other income tax benefits allocated in the current period versus the total estimated income tax credits and other income tax benefits expected to be received over the life of the investment. The net benefit, representing the difference between amortization of the investment balance, recognition of the income tax credits and recognition of other income tax benefits from the investment is recognized as a component of income tax expense.
As of December 31, 2025, we had investments in LIHTC and production tax credit investments of $608 million and $268 million, respectively, which are included in other assets in our consolidated statement of condition. Contingent contributions related to the renewable energy production tax credit investments were $86 million at December 31, 2025. These contributions are contingent on production and expected to be paid through 2034. Deferred contributions related to LIHTC investments were $81 million at December 31, 2025. These deferred contributions are payable in accordance with the respective agreements and are expected to be paid through 2042.
The following table presents the impact of our tax credit programs for which we have elected to apply proportional amortization accounting on our consolidated statement of income for the periods indicated:
Years Ended December 31,
(In millions)20252024
Income recorded on investments within other fee revenue
$17 $29 
Income recorded in total revenue17 29 
Tax credits and benefits recognized in income tax expense236 256 
Proportional amortization recognized in income tax expense(191)(207)
Net benefits included in income tax expense45 49 
Net benefit attributable to tax-advantaged investments included in the consolidated statement of income for which proportional amortization has been elected$62 $78 
v3.25.4
Shareholders' Equity
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity
Preferred Stock
The following table summarizes selected terms of each of the series of the preferred stock issued and outstanding as of December 31, 2025:
Preferred Stock(1):
Issuance DateDepositary Shares IssuedAmount outstanding (In millions)Ownership Interest Per Depositary ShareLiquidation Preference Per ShareLiquidation Preference Per Depositary SharePer Annum Dividend RateDividend Payment FrequencyCarrying Value as of December 31, 2025
(In millions)
Redemption Date(2)
Series GApril 201620,000,000 $500 1/4,000th100,000 25 
5.35%(3)
Quarterly$493 March 15, 2026
Series IJanuary 20241,500,000 1,500 1/100th100,000 1,000 
6.700% through March 14, 2029; resets March 15, 2029 and every subsequent five year anniversary at the five- year U.S. Treasury rate plus 2.613%
Quarterly1,481 March 15, 2029
Series JJuly 2024850,000 850 1/100th100,000 1,000 
6.700% through September 14, 2029; resets September 15, 2029 and every subsequent five year anniversary at the five-year U.S. Treasury rate plus 2.628%
Quarterly842 September 15, 2029
Series KFebruary 2025750,000 750 1/100th100,000 1,000 
6.450% through September 14, 2030; resets September 15, 2030 and every subsequent five year anniversary at the five- year U.S. Treasury rate plus 2.135%
Quarterly743 September 15, 2030
(1) The preferred stock and corresponding depositary shares may be redeemed at our option in whole, but not in part, prior to the redemption date upon the occurrence of a regulatory capital treatment event, as defined in the certificate of designation, at a redemption price equal to the liquidation price per share and liquidation price per depositary share plus any declared and unpaid dividends, without accumulation of any undeclared dividends.
(2) On the redemption date, or any dividend payment date thereafter, the preferred stock and corresponding depositary shares may be redeemed by us, in whole or in part, at the liquidation price per share and liquidation price per depositary share plus any declared and unpaid dividends, without accumulation of any undeclared dividends.
(3) The dividend rate for the floating rate period of the Series G preferred stock that begins on March 15, 2026 and all subsequent floating rate periods will remain at the current fixed rate in accordance with the LIBOR Act and the contractual terms of the Series G preferred stock.
On February 6, 2025, we issued 750,000 depositary shares, each representing a 1/100th ownership interest in a share of fixed rate reset, non-cumulative perpetual preferred stock, Series K, without par value per share, with a liquidation preference of $100,000 per share (equivalent to $1,000 per depositary share), in a public offering. The aggregate proceeds, net of underwriting discounts, commissions and other issuance costs, were approximately $743 million.
The following table presents the dividends declared for each of the series of preferred stock issued and outstanding for the periods indicated:
Years Ended December 31,
20252024
(Dollars in millions, except per share amounts)Dividends Declared per ShareDividends Declared per Depositary ShareTotalDividends Declared per ShareDividends Declared per Depositary ShareTotal
Preferred Stock:
Series D$— $— $— $1,475 $0.37 $11 
Series F— — — 2,336 23.36 6 
Series G5,350 1.34 27 5,350 1.34 27 
Series H— — — 6,251 62.51 31 
Series I6,700 67.00 100 5,863 58.63 88 
Series J
6,700 67.00 57 2,643 26.43 22 
Series K
5,536 55.36 42 — — — 
Total$226 $185 
In February 2026, we declared dividends on our series G, I, J and K preferred stock of approximately $1,338, $1,675, $1,675 and $1,613, respectively, per share, or approximately $0.33, $16.75, $16.75 and $16.13, respectively, per depositary share. These dividends total approximately $7 million, $25 million, $14 million and $12 million on our Series G, I, J and K preferred stock, respectively, which will be paid in March 2026.
Common Stock
On January 19, 2024, we announced a common share repurchase program, approved by the Board and superseding all prior programs, authorizing the purchase of up to $5.0 billion of our common stock beginning in the first quarter of 2024. During 2025, we repurchased $1.2 billion of our common stock and since its inception we have repurchased an aggregate of $2.5 billion of our common stock under the 2024 Program through December 31, 2025. The program has no set expiration date.
The table below presents the activity under our common share repurchase program for the periods indicated:
Years Ended December 31,
20252024
Shares Acquired (In millions)Average Cost per ShareTotal Acquired (In millions)Shares Acquired (In millions)Average Cost per ShareTotal Acquired (In millions)
2024 Program
11.5 $104.05 $1,200 15.1 $85.89 $1,300 
The table below presents the dividends declared on common stock for the periods indicated:
Years Ended December 31,
20252024
Dividends Declared per ShareTotal (In millions)Dividends Declared per ShareTotal (In millions)
Common Stock$3.20 $909 $2.90 $859 
In February 2026, we declared a common stock dividend of $0.84 per share, payable on April 13, 2026, to shareholders of record on April 1, 2026.
Accumulated Other Comprehensive Income (Loss)
The following table presents the after-tax components of AOCI and changes for the periods indicated, net of related taxes:
(In millions)Net Unrealized Gains (Losses) on Cash Flow Hedges
Net Unrealized Gains (Losses) on Investment Securities(1)
Net Unrealized Losses on Retirement PlansForeign Currency TranslationNet Unrealized Gains (Losses) on Hedges of Net Investments in Non-U.S. SubsidiariesTotal
Balance as of December 31, 2022$(359)$(1,817)$(143)$(1,751)$359 $(3,711)
Other comprehensive income (loss) before reclassifications75 442 (3)351 (90)775 
Increase (decrease) due to amounts reclassified from accumulated other comprehensive income153 428 1 — — 582 
Other comprehensive income (loss)228 870 (2)351 (90)1,357 
Balance as of December 31, 2023(131)(947)(145)(1,400)269 (2,354)
Other comprehensive income (loss) before reclassifications39 15 14 (768)540 (160)
Increase (decrease) due to amounts reclassified from accumulated other comprehensive income(40)452 2 — — 414 
Other comprehensive income (loss)(1)467 16 (768)540 254 
Balance as of December 31, 2024(132)(480)(129)(2,168)809 (2,100)
Other comprehensive income (loss) before reclassifications(5)224 36 1,375 (783)847 
Increase (decrease) due to amounts reclassified from accumulated other comprehensive income104 105 1 — — 210 
Other comprehensive income (loss)99 329 37 1,375 (783)1,057 
Balance as of December 31, 2025$(33)$(151)$(92)$(793)$26 $(1,043)
(1) Includes after-tax net unamortized unrealized gains (losses) of $(267) million, $(374) million and $(530) million as of December 31, 2025, 2024 and 2023, respectively, related to AFS investment securities previously transferred to HTM.
The following table presents after-tax reclassifications into earnings for the periods indicated:
Years Ended December 31,
202520242023
(In millions)
Amounts Reclassified into EarningsAffected Line Item in Consolidated Statement of Income
Investment securities:
Net realized (gains) losses from sales of available-for-sale securities, net of related taxes of $(2), $21 and $81 respectively
$(2)$59 $213 Net gains (losses) from sales of available-for-sale securities
Losses reclassified from accumulated other comprehensive income into income, net of related taxes of $47, $137 and $81 respectively
107 393 215 Net interest income
Cash flow hedges:
Losses (gains) reclassified from accumulated other comprehensive income into income, net of related taxes of $31, $(14) and $55 respectively
104 (40)153 Net interest income
Retirement plans:
Amortization of actuarial losses, net of related taxes of nil, nil and nil respectively
1 2 1 Compensation and employee benefits expenses
Total amounts reclassified from accumulated other comprehensive income$210 $414 $582 
v3.25.4
Regulatory Capital
 12 Months Ended
Dec. 31, 2025
Banking and Thrift, Other Disclosure [Abstract]  
Regulatory Capital Regulatory Capital
We are subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum regulatory capital requirements can initiate certain mandatory and discretionary actions by regulators that, if undertaken, could have a direct material effect on our consolidated financial condition. Under current regulatory capital adequacy guidelines, we must meet specified capital requirements that involve quantitative measures of our consolidated assets, liabilities and off-balance sheet exposures calculated in conformity with regulatory accounting practices. Our capital components and their classifications are subject to qualitative judgments by regulators about components, risk weightings and other factors.
As required by the Dodd-Frank Act, we and State Street Bank, as advanced approaches banking organizations, are subject to a “capital floor” in the calculation and assessment of regulatory capital adequacy by the U.S. Agencies. Beginning on January 1, 2015, we were required to calculate our risk-based capital ratios using both the advanced approaches and the standardized approach. As a result, from January 1, 2015 going forward, our risk-based capital ratios for regulatory assessment purposes are the lower of each ratio calculated under the standardized approach and the advanced approaches.
As of December 31, 2025, we and State Street Bank exceeded all regulatory capital adequacy requirements to which we were subject. As of December 31, 2025, State Street Bank was categorized as “well capitalized” under the applicable regulatory capital adequacy framework, and exceeded all “well capitalized” ratio guidelines to which it was subject. Management believes that no conditions or events have occurred since December 31, 2025 that have changed the capital categorization of State Street Bank.
The following table presents the regulatory capital structure, total RWA, related regulatory capital ratios and the minimum required regulatory capital ratios for us and State Street Bank as of the dates indicated.
State Street Corporation
State Street Bank
(Dollars in millions)Basel III Advanced Approaches December 31, 2025Basel III Standardized Approach December 31, 2025Basel III Advanced Approaches December 31, 2024Basel III Standardized Approach December 31, 2024Basel III Advanced Approaches December 31, 2025Basel III Standardized Approach December 31, 2025Basel III Advanced Approaches December 31, 2024Basel III Standardized Approach December 31, 2024
 Common shareholders’ equity:
Common stock and related surplus$11,209 $11,209 $11,226 $11,226 $13,333 $13,333 $13,333 $13,333 
Retained earnings31,392 31,392 29,582 29,582 16,401 16,401 15,977 15,977 
Accumulated other comprehensive income (loss)(1,043)(1,043)(2,100)(2,100)(815)(815)(1,805)(1,805)
Treasury stock, at cost(17,276)(17,276)(16,198)(16,198)— — — — 
Total24,282 24,282 22,510 22,510 28,919 28,919 27,505 27,505 
Regulatory capital adjustments:
Goodwill and other intangible assets, net of associated deferred tax liabilities(8,921)(8,921)(8,320)(8,320)(8,342)(8,342)(8,054)(8,054)
Other adjustments(1)
(549)(549)(391)(391)(419)(419)(278)(278)
 Common equity tier 1 capital14,812 14,812 13,799 13,799 20,158 20,158 19,173 19,173 
Preferred stock3,559 3,559 2,816 2,816 — — — — 
 Tier 1 capital18,371 18,371 16,615 16,615 20,158 20,158 19,173 19,173 
Qualifying subordinated long-term debt1,872 1,872 1,861 1,861 524 524 530 530 
Adjusted allowance for credit losses18 203 — 183 18 203 — 183 
 Total capital$20,261 $20,446 $18,476 $18,659 $20,700 $20,885 $19,703 $19,886 
 Risk-weighted assets:
Credit risk(2)
$60,594 $125,138 $63,252 $124,281 $56,438 $121,747 $57,883 $121,785 
Operational risk(3)
51,638 NA49,350 NA50,025 NA47,538 NA
Market risk2,125 2,125 2,000 2,000 2,125 2,125 2,000 2,000 
Total risk-weighted assets$114,357 $127,263 $114,602 $126,281 $108,588 $123,872 $107,421 $123,785 
Adjusted quarterly average assets$332,978 $332,978 $318,470 $318,470 $328,034 $328,034 $314,754 $314,754 
Capital Ratios:
2025 Minimum Requirements(4)
2024 Minimum Requirements(4)
Common equity tier 1 capital8.0 %8.0 %13.0 %11.6 %12.0 %10.9 %18.6 %16.3 %17.8 %15.5 %
Tier 1 capital9.5 9.5 16.1 14.4 14.5 13.2 18.6 16.3 17.8 15.5 
Total capital11.5 11.5 17.7 16.1 16.1 14.8 19.1 16.9 18.3 16.1 
Tier 1 leverage(5)
4.0 4.0 5.5 5.5 5.2 5.2 6.1 6.1 6.1 6.1 
(1) Other adjustments within CET1 capital primarily include disallowed deferred tax assets, cash flow hedges that are not recognized at fair value on the balance sheet, and the overfunded portion of our defined benefit pension plan obligation net of associated deferred tax liabilities.
(2) Under the advanced approaches, credit risk RWA includes a CVA which reflects the risk of potential fair value adjustments for credit risk reflected in our valuation of OTC derivative contracts. We used a simple CVA approach in conformity with the Basel III advanced approaches.
(3) Under the current advanced approaches rules and regulatory guidance concerning operational risk models, RWA attributable to operational risk can vary substantially from period-to-period, without direct correlation to the effects of a particular loss event on our results of operations and financial condition and impacting dates and periods that may differ from the dates and periods as of and during which the loss event is reflected in our financial statements, with the timing and categorization dependent on the processes for model updates and, if applicable, model revalidation and regulatory review and related supervisory processes. An individual loss event can have a significant effect on the output of our operational RWA under the advanced approaches depending on the severity of the loss event and its categorization among the seven Basel-defined UOMs.
(4) Minimum requirements include a CCB of 2.5% and a SCB of 2.5% for the advanced approaches and the standardized approach, respectively, a G-SIB surcharge of 1.0% and a countercyclical buffer of 0%.Our SCB requirement remains at 2.5% for the period from October 1, 2025 through September 30, 2026, based on the results of the 2025 supervisory stress test. Additionally, in February 2026 the Federal Reserve Board voted to maintain the current SCB requirements until 2027.
(5) State Street Bank is required to maintain a minimum Tier 1 leverage ratio of 5% as it is the insured depository institution subsidiary of State Street Corporation, a U.S. G-SIB.
NA Not applicable
v3.25.4
Net Interest Income
 12 Months Ended
Dec. 31, 2025
Banking and Thrift, Interest [Abstract]  
Net Interest Income Net Interest Income
The following table presents the components of interest income and interest expense, and related NII, for the periods indicated:
Years Ended December 31,
(In millions)202520242023
Interest income:
Interest-bearing deposits with banks$2,911 $3,634 $2,869 
Investment securities:
Investment securities available-for-sale2,995 2,680 1,744 
Investment securities held-to-maturity917 1,090 1,262 
Total investment securities3,912 3,770 3,006 
Securities purchased under resale agreements672 686 312 
Trading account assets
4 — — 
Loans 2,286 2,271 1,862 
Other interest-earning assets1,859 1,616 1,131 
Total interest income11,644 11,977 9,180 
Interest expense:
Interest-bearing deposits6,382 6,627 4,991 
Securities sold under repurchase agreements95 156 34 
Federal funds purchased— — 3 
Other short-term borrowings
434 577 40 
Long-term debt1,230 1,086 888 
Other interest-bearing liabilities543 608 465 
Total interest expense8,684 9,054 6,421 
Net interest income$2,960 $2,923 $2,759 
v3.25.4
Equity-Based Compensation
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Equity-Based Compensation Equity-Based Compensation
We record compensation expense for equity-based awards, such as deferred stock and performance awards, based on the closing price of our common stock on the date of grant, adjusted if appropriate, based on the eligibility of the award to receive dividends.
Compensation expense related to equity-based and cash-settled stock awards with service-only conditions and terms that provide for a graded vesting schedule is recognized on a straight-line basis over the required service period for the entire award. Compensation expense related to equity-based awards with performance conditions and terms that provide for a graded vesting schedule is recognized over the requisite service period for each separately vesting tranche of the award, and is based on the probable outcome of the performance conditions at each reporting date. Compensation expense is adjusted for assumptions with respect to the estimated amount of awards that will be forfeited prior to vesting, and for employees who have met certain retirement eligibility criteria. Compensation expense for common stock awards granted to employees meeting early retirement eligibility criteria is fully expensed on the grant date.
Dividend equivalents for certain equity-based awards are paid on stock units on a current basis prior to vesting and distribution.
The 2017 Stock Incentive Plan, (the 2017 Plan), was amended and restated and approved by shareholders in May 2023 for issuance of stock and stock based awards. Awards may be made under the 2017 Plan for (i) up to 15.1 million shares of common stock plus (ii) up to an additional 28.5 million shares that were available to be issued under the 2006 Equity Incentive Plan, (the 2006 Plan), or may become available for issuance under the 2006 Plan due to expiration, termination, cancellation, forfeiture or repurchase of awards granted under the 2006 Plan. As of December 31, 2025, a total of 21.3 million shares from the 2006 Plan have been added to and may be issued from the 2017 Plan. As of December 31, 2025, a cumulative total of 27.4 million shares have been awarded under the 2017 Plan, compared to cumulative totals of 24.7 million shares and 21.7 million shares as of December 31, 2024 and 2023, respectively.
The 2017 Plan allows for shares withheld in payment of the exercise price of an award or in satisfaction of tax withholding requirements, shares forfeited due to employee termination, shares expired under option awards, or shares not delivered when performance conditions have not been met, to be added back to the pool of shares available for issuance under the 2017 Plan. From inception to December 31, 2025, 8.2 million shares had been awarded under the 2017 Plan but not delivered, and have become available for re-issue. As of December 31, 2025, a total of 17.2 million shares were available for future issuance under the 2017 Plan.
For deferred stock awards granted under the Plans, no common stock is issued at the time of grant and the award does not possess dividend and voting rights. Generally, these grants vest over zero to four years. Performance awards granted are earned over a performance period based on the achievement of defined goals, generally over three years. Payment for performance awards is made in shares of our common stock equal to its fair market value per share, based on the performance of certain financial ratios, after the conclusion of each performance period.
Beginning with 2012, malus-based forfeiture provisions were included in deferred stock awards granted to employees identified as “material risk-takers,” as defined by management. These malus-based forfeiture provisions provide for the reduction or cancellation of unvested deferred compensation, such as deferred stock awards and performance-based awards, if it is determined that a material risk-
taker made risk-based decisions that exposed us to inappropriate risks that resulted in a material unexpected loss at the business-unit, line-of-business or corporate level. In addition, awards granted to certain of our senior executives, as well as awards granted to individuals in certain jurisdictions, may be subject to recoupment after vesting (if applicable) and delivery to the individual in specified circumstances generally relating to fraud or willful misconduct by the individual that results in material harm to us or a material financial restatement.
Compensation expense related to deferred stock awards and performance awards, which we record as a component of compensation and employee benefits expense in our consolidated statement of income, was $268 million, $223 million and $208 million for the years ended December 31, 2025, 2024 and 2023, respectively. Such expense for 2025, 2024 and 2023 excluded an expense of $18 million, $3 million and $12 million, respectively, associated with acceleration of expense in connection with targeted staff reductions. This expense was included in the severance-related portion of the associated restructuring or repositioning charges recorded in each respective year.
For the years ended December 31, 2025, 2024 and 2023, no stock appreciation rights were exercised. As of December 31, 2025, there was no unrecognized compensation cost related to stock appreciation rights.
Shares
(In thousands)		Weighted-Average
Grant Date Fair
Value
Deferred Stock Awards:
Outstanding as of December 31, 20234,968 $75.72 
Granted2,551 68.70 
Vested(2,513)73.62 
Forfeited(147)73.35 
Outstanding as of December 31, 20244,859 73.20 
Granted2,185 94.24 
Vested(2,440)77.72 
Forfeited(137)79.25 
Outstanding as of December 31, 2025
4,467 80.83 
The total fair value of deferred stock awards vested for the years ended December 31, 2025, 2024 and 2023, based on the weighted average grant date fair value in each respective year, was $190 million, $185 million and $185 million, respectively. As of December 31, 2025, total unrecognized compensation cost related to deferred stock awards, net of estimated forfeitures, was $172 million, which is expected to be recognized over a weighted-average period of 2.3 years.
Shares
(In thousands)		Weighted-Average
Grant Date Fair Value
Performance Awards:
Outstanding as of December 31, 20232,206 $74.33 
Granted363 63.49 
Forfeited(28)80.01 
Paid out(502)65.70 
Outstanding as of December 31, 20242,039 74.44 
Granted598 88.47 
Forfeited(28)75.81 
Paid out(422)80.27 
Outstanding as of December 31, 2025
2,187 77.14 
The total fair value of performance awards vested for the years ended December 31, 2025, 2024 and 2023, based on the weighted average grant date fair value in each respective year, was $34 million, $33 million and $43 million, respectively. As of December 31, 2025, total unrecognized compensation cost related to performance awards, net of estimated forfeitures, was $36 million, which is expected to be recognized over a weighted-average period of 2.3 years.
Shares
(In thousands)		Weighted-Average
Grant Date Fair Value
Cash-Settled Restricted Stock Awards:
Outstanding as of December 31, 202327 $83.37 
Granted40 69.96 
Paid out(38)76.11 
Outstanding as of December 31, 202429 74.52 
Paid out(17)76.78 
Outstanding as of December 31, 2025
12 71.46 
The total fair value of cash-settled restricted stock awards vested during the years ended December 31, 2025 and 2024, based on the weighted average grant date fair value, was $1 million and $3 million, respectively. As of December 31, 2025, there was no unrecognized compensation cost related to cash-settled restricted stock awards.
We utilize either treasury shares or authorized but unissued shares to satisfy the issuance of common stock under our equity incentive plans. We do not have a specific policy concerning purchases of our common stock to satisfy stock issuances. We have a general policy concerning purchases of our common stock to meet issuances under our employee benefit plans, including other corporate purposes. Various factors determine the amount and timing of our purchases of our common stock, including regulatory reviews and approvals or non-objections, our regulatory capital requirements, the number of shares we expect to issue under employee benefit plans, market conditions (including the trading price of our common stock), and legal considerations.
These factors can change at any time, and the number of shares of common stock we will purchase or when we will purchase them cannot be assured. Additional information on our common stock purchase program is provided in Note 15.
v3.25.4
Employee Benefits
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Employee Benefits Employee Benefits
Defined Benefit Pension and Other Post-Retirement Benefit Plans
State Street Bank and certain of its U.S. subsidiaries participate in a non-contributory, tax-qualified defined benefit pension plan. The U.S. defined benefit pension plan was frozen as of December 31, 2007 and no new employees were eligible to participate after that date. We have agreed to contribute sufficient amounts as necessary to meet the benefits paid to plan participants and to fund the plan’s service cost, plus interest. U.S. employee account balances earn annual interest credits until the employee begins receiving benefits. Non-U.S. employees participate in local defined benefit plans which are funded as required in each local jurisdiction. In addition to the defined benefit pension plans, we have non-qualified unfunded SERPs that provide certain officers with defined pension benefits in excess of allowable qualified plan limits. State Street Bank and certain of its U.S. subsidiaries also participate in a post-retirement plan that provides health care benefits for certain retired employees. The total expense for these tax-qualified and non-qualified plans was $16 million, $17 million and $16 million in 2025, 2024 and 2023, respectively.
We recognize the funded status of our defined benefit pension plans and other post-retirement benefit plans, measured as the difference between the fair value of the plan assets and the projected benefit obligation, in the consolidated statement of position. The assets held by the defined benefit pension plans are largely made up of common, collective funds that are liquid and invest principally in U.S. equities and high-quality fixed-income investments. The majority of these assets fall within Level 2 of the fair value hierarchy. The benefit obligations associated with our primary U.S. and non-U.S. defined benefit plans, non-qualified unfunded supplemental retirement plans and post-retirement plans were $1.11 billion, $18 million and nil, respectively, as of December 31, 2025 and $1.10 billion, $19 million and less than $1 million, respectively, as of December 31, 2024. As the primary defined benefit plans are frozen, the benefit obligation will only vary over time as a result of changes in market interest rates, the life expectancy of the plan participants and payments made from the plans. The primary U.S. and non-U.S. defined benefit pension plans were overfunded by $71 million and $26 million as of December 31, 2025 and 2024,
respectively. The non-qualified supplemental retirement plans were underfunded by $18 million and $19 million as of December 31, 2025 and 2024, respectively. The other post-retirement benefit plans had liabilities of nil and were underfunded by less than $1 million as of December 31, 2025 and 2024, respectively. The underfunded status is included in other liabilities.
Defined Contribution Retirement Plans
We contribute to employer-sponsored U.S. and non-U.S. defined contribution plans. Our contribution to these plans was $226 million, $212 million and $194 million in 2025, 2024 and 2023, respectively.
v3.25.4
Occupancy Expense and Information Systems and Communications Expense
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Occupancy Expense and Information Systems and Communications Expense Occupancy Expense and Information Systems and Communications Expense
Occupancy expense and information systems and communications expense include depreciation of buildings, leasehold improvements, computer hardware and software, equipment, furniture and fixtures, and amortization of lease right-of-use assets. Total depreciation and amortization expense in 2025, 2024 and 2023 was $892 million, $824 million and $829 million, respectively.
We use our incremental borrowing rate to determine the present value of the lease payments for finance and operating leases described below. Additionally, we do not separate nonlease components such as real estate taxes and common area maintenance from base lease payments.
As of December 31, 2025 and 2024, we had finance leases for information technology equipment of $89 million and $67 million, respectively, recorded in premises and equipment, with the related liability of $106 million and $79 million, respectively, recorded in long-term debt, in our consolidated statement of condition.
Finance lease right-of-use asset amortization is recorded in information systems and communications expense on a straight-line basis in our consolidated statement of income over the respective lease term. Lease payments are recorded as a reduction of the liability, with a portion recorded as imputed interest expense. Accumulated amortization of the finance lease right-of-use assets was $182 million as of December 31, 2025. Interest expense related to the finance lease obligation reflected in NII was $3 million in both 2025 and 2024.
As of December 31, 2025, aggregate net book value of the operating lease right-of-use assets recorded in other assets was $865 million, with the related lease liability recorded in accrued expenses and other liabilities in our consolidated statement of condition.
We have entered into non-cancellable operating leases for premises and equipment. Nearly all of
these leases include renewal options, and only those reasonably certain of being exercised are included in the term of the lease. Costs for operating leases are recorded on a straight-line basis which includes both interest expense and right-of-use asset amortization. Operating lease costs for office space are recorded in occupancy expense. Costs related to operating leases for equipment are recorded in information systems and communications expense.
As of December 31, 2025, we have additional operating and finance leases, primarily for office space and equipment, that have not yet commenced with approximately $80 million of undiscounted future minimum lease payments. These leases will largely commence in fiscal year 2026 with lease terms ranging from 2 to 10 years.
None of our leases contain residual value guarantees.
The following table presents lease costs, sublease rental income, cash flows and new leases arising from lease transactions for 2025:
Years Ended December 31,
(In millions)20252024
Finance lease:
Amortization of right-of-use assets$47 $48 
Interest on lease liabilities3 3 
Total finance lease expense50 51 
Sublease income — — 
Net finance lease expense50 51 
Operating lease:
Operating lease expense179 168 
Sublease income (13)(17)
Net operating lease expense166 151 
Net lease expense$216 $202 
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases$3 $3 
Operating cash flows from operating leases193 179 
Financing cash flows from finance leases43 46 
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases$214 $174 
Finance leases64 — 
The following table presents future minimum lease payments under non-cancellable leases as of December 31, 2025:
(In millions)Operating LeasesFinance LeasesTotal
2026
$174 $34 $208 
2027154 29 183 
2028136 29 165 
2029101 22 123 
203083 — 83 
Thereafter410 — 410 
Total future minimum lease payments1,058 114 1,172 
Less imputed interest(195)(8)(203)
Total$863 $106 $969 
The following table presents details related to remaining lease terms and discount rate as of December 31, 2025 and 2024:
December 31, 2025December 31, 2024
Weighted-average remaining lease term (in years):
Finance leases3.41.4
Operating leases8.38.1
Weighted-average discount rate:
Finance leases5 %3 %
Operating leases5 %4 %
Occupancy Expense and Information Systems and Communications Expense Occupancy Expense and Information Systems and Communications Expense
Occupancy expense and information systems and communications expense include depreciation of buildings, leasehold improvements, computer hardware and software, equipment, furniture and fixtures, and amortization of lease right-of-use assets. Total depreciation and amortization expense in 2025, 2024 and 2023 was $892 million, $824 million and $829 million, respectively.
We use our incremental borrowing rate to determine the present value of the lease payments for finance and operating leases described below. Additionally, we do not separate nonlease components such as real estate taxes and common area maintenance from base lease payments.
As of December 31, 2025 and 2024, we had finance leases for information technology equipment of $89 million and $67 million, respectively, recorded in premises and equipment, with the related liability of $106 million and $79 million, respectively, recorded in long-term debt, in our consolidated statement of condition.
Finance lease right-of-use asset amortization is recorded in information systems and communications expense on a straight-line basis in our consolidated statement of income over the respective lease term. Lease payments are recorded as a reduction of the liability, with a portion recorded as imputed interest expense. Accumulated amortization of the finance lease right-of-use assets was $182 million as of December 31, 2025. Interest expense related to the finance lease obligation reflected in NII was $3 million in both 2025 and 2024.
As of December 31, 2025, aggregate net book value of the operating lease right-of-use assets recorded in other assets was $865 million, with the related lease liability recorded in accrued expenses and other liabilities in our consolidated statement of condition.
We have entered into non-cancellable operating leases for premises and equipment. Nearly all of
these leases include renewal options, and only those reasonably certain of being exercised are included in the term of the lease. Costs for operating leases are recorded on a straight-line basis which includes both interest expense and right-of-use asset amortization. Operating lease costs for office space are recorded in occupancy expense. Costs related to operating leases for equipment are recorded in information systems and communications expense.
As of December 31, 2025, we have additional operating and finance leases, primarily for office space and equipment, that have not yet commenced with approximately $80 million of undiscounted future minimum lease payments. These leases will largely commence in fiscal year 2026 with lease terms ranging from 2 to 10 years.
None of our leases contain residual value guarantees.
The following table presents lease costs, sublease rental income, cash flows and new leases arising from lease transactions for 2025:
Years Ended December 31,
(In millions)20252024
Finance lease:
Amortization of right-of-use assets$47 $48 
Interest on lease liabilities3 3 
Total finance lease expense50 51 
Sublease income — — 
Net finance lease expense50 51 
Operating lease:
Operating lease expense179 168 
Sublease income (13)(17)
Net operating lease expense166 151 
Net lease expense$216 $202 
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases$3 $3 
Operating cash flows from operating leases193 179 
Financing cash flows from finance leases43 46 
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases$214 $174 
Finance leases64 — 
The following table presents future minimum lease payments under non-cancellable leases as of December 31, 2025:
(In millions)Operating LeasesFinance LeasesTotal
2026
$174 $34 $208 
2027154 29 183 
2028136 29 165 
2029101 22 123 
203083 — 83 
Thereafter410 — 410 
Total future minimum lease payments1,058 114 1,172 
Less imputed interest(195)(8)(203)
Total$863 $106 $969 
The following table presents details related to remaining lease terms and discount rate as of December 31, 2025 and 2024:
December 31, 2025December 31, 2024
Weighted-average remaining lease term (in years):
Finance leases3.41.4
Operating leases8.38.1
Weighted-average discount rate:
Finance leases5 %3 %
Operating leases5 %4 %
v3.25.4
Expenses
 12 Months Ended
Dec. 31, 2025
Other Expenses [Abstract]  
Expenses Expenses
The following table presents the components of other expenses for the periods indicated:
Years Ended December 31,
(In millions)202520242023
Professional services$444 $465 $428 
Amortization of other intangible assets223 230 239 
Sales advertising and public relations174 142 142 
Securities processing58 78 49 
Bank operations50 51 45 
Donations28 28 27 
Regulatory fees and assessments(1)
(10)142 464 
Other521 433 359 
Total other expenses$1,488 $1,569 $1,753 
(1) Includes an FDIC special assessment release of $60 million in 2025 and an FDIC special assessment charge of $99 million and $387 million in 2024 and 2023, respectively, related to FDIC’s recovery of estimated losses to the Deposit Insurance Fund associated with the closures of Silicon Valley Bank and Signature Bank reflected in other expenses.
Repositioning Charges
In 2025, we recorded net repositioning charges of $326 million, including $211 million of compensation and employee benefits expenses related to workforce rationalization, $69 million of occupancy costs associated with real estate footprint optimization, and other charges of $24 million and $22 million relating to operating model changes reflected in information systems and communications and other expenses, respectively.
In 2024, we recorded a net repositioning release of $2 million, including a $15 million release reflected in compensation and employee benefits expenses, partially offset by $13 million of occupancy charges related to footprint optimization.
The following table presents aggregate activity for repositioning charges for the periods indicated:
(In millions)Employee Related CostsOtherTotal
Accrual Balance at December 31, 2022$83 $5 $88 
Accruals for Repositioning Charges
182 21 203 
Payments and Other Adjustments(58)(25)(83)
Accrual Balance at December 31, 2023207 1 208 
Accruals for Repositioning Charges
(15)13 (2)
Payments and Other Adjustments(96)(14)(110)
Accrual Balance at December 31, 202496 — 96 
Accruals for Repositioning Charges
211 115 326 
Payments and Other Adjustments(99)(115)(214)
Accrual Balance at December 31, 2025
$208 $— $208 
v3.25.4
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
We use an asset-and-liability approach to account for income taxes. Our objective is to recognize the amount of taxes payable or refundable for the current year through charges or credits to the current tax provision, and to recognize deferred tax assets and liabilities for future tax consequences of temporary differences between amounts reported in our consolidated financial statements and their respective tax bases. The measurement of tax assets and liabilities is based on enacted tax laws and applicable tax rates. The effects of a tax position on our consolidated financial statements are recognized when we believe it is more likely than not that the position will be sustained. A valuation allowance is established if it is considered more likely than not that all or a portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities recorded in our consolidated statement of condition are netted within the same tax jurisdiction.
The following table presents the components of income tax expense (benefit) for the periods indicated:
Years Ended December 31,
(In millions)202520242023
Current:
Federal$375 $108 $160 
State96 68 79 
Non-U.S.404 387 317 
Total current expense875 563 556 
Deferred:
Federal(133)77 (77)
State(1)2 (63)
Non-U.S.45 66 (44)
Total deferred expense (benefit)(89)145 (184)
Total income tax expense (benefit)$786 $708 $372 
The Company adopted ASU 2023-09, Improvements to Income Tax Disclosures, prospectively for annual periods beginning after December 31, 2024. The following table presents a reconciliation of the U.S. federal statutory tax rate to our effective income tax rate for the year ended December 31, 2025 (after adoption of ASU 2023-09):
Years Ended December 31,
(Dollars in millions)2025
U.S. federal income tax rate$783 21.0 %
Changes from statutory rate:
State and local income taxes, net of federal income tax effect(1)
81 2.2 
Foreign tax effects45 1.2 
Effects of cross-border tax laws(2)
7 0.2 
Tax Credits(3)
(68)(1.8)
Nontaxable or nondeductible items(27)(0.8)
Changes in unrecognized tax benefits(35)(0.9)
Effective tax rate$786 21.1 %
(1) State taxes in Massachusetts, New York State and New York City made up the majority (greater than 50%) of the tax effect in this category.
(2) Effects of cross-border tax laws includes the period expense for global intangible low-taxed income.
(3) Business tax credits include research, low-income housing, production and investment tax credits.
The following table presents a reconciliation of the U.S. statutory income tax rate to our effective tax rate based on income before income tax expense for the periods indicated:
Years Ended December 31,
20242023
U.S. federal income tax rate21.0 %21.0 %
Changes from statutory rate:
State taxes, net of federal benefit1.8 2.4 
Tax-exempt income(1.0)(1.5)
Business tax credits(1)
(2.0)(3.6)
Foreign tax differential1.0 (0.6)
Foreign tax credit (benefits)/ limitations(2)
0.6 (2.0)
Change in Valuation Allowance(0.5)(0.2)
Other, net(0.1)0.6 
Effective tax rate20.8 %16.1 %
(1) Business tax credits include research, low-income housing, production and investment tax credits.
(2) Foreign tax credit (benefits)/limitations includes the period expense for global intangible low-taxed income.
Certain earnings of our foreign subsidiaries are considered indefinitely reinvested, and no state, local, or foreign withholding tax liabilities have been recorded on these amounts as the related tax effects are not practicable to estimate. Any future distribution of these earnings is expected to be exempt from U.S. federal income tax but could result in state, local, and foreign withholding taxes. Although foreign withholding taxes may be creditable for U.S. federal income tax purposes, limitations on foreign tax credit utilization could result in a net tax cost.
The following table presents significant components of our gross deferred tax assets and gross deferred tax liabilities as of the dates indicated:
December 31,
(In millions)20252024
Deferred tax assets:
Other amortizable assets$176 $189 
Tax credit carryforwards656 577 
Lease obligations248 214 
Deferred compensation229 111 
Restructuring charges and other reserves166 227 
NOL and other carryforwards154 147 
Pension plan13 21 
Foreign currency translation24 63 
Unrealized losses on investment securities, net52 184 
Total deferred tax assets 1,718 1,733 
Valuation allowance for deferred tax assets(198)(172)
Deferred tax assets, net of valuation allowance$1,520 $1,561 
Deferred tax liabilities:
Fixed and intangible assets$654 $634 
Investment basis differences45 47 
Right-of-use assets
240 198 
Other33 40 
Total deferred tax liabilities$972 $919 
The table below summarizes the deferred tax assets, carryforwards and related valuation allowances recognized as of December 31, 2025:
(In millions)Deferred Tax AssetValuation AllowanceExpiration
Other amortizable assets$176 $(69)None
Tax credits656 — 
2042-2045
NOLs - Non-U.S.130 (110)2026-2042, None
NOLs - U.S.21 (17)
2026-2041, None
Other carryforwards2 (2)None
Management considers the valuation allowance adequate to reduce the total deferred tax assets to an aggregate amount that will more likely than not be realized. Management has determined that a valuation allowance is not required for the remaining deferred tax assets because it is more likely than not that there will be sufficient taxable income of the appropriate nature within the carryforward periods to realize these assets.
At December 31, 2025, 2024 and 2023, the gross unrecognized tax benefits, excluding interest,
were $248 million, $237 million and $237 million, respectively. Of this, the amounts that would reduce the effective tax rate, if recognized, are $230 million, $220 million and $197 million, respectively. The reduction in the effective tax rate includes the federal benefit for unrecognized state tax benefits.
The following table presents activity related to unrecognized tax benefits as of the dates indicated:
December 31,
(In millions)202520242023
Beginning balance$237 $237 $285 
Decrease related to agreements with tax authorities(2)(22)(32)
Increase related to tax positions taken during current year48 36 39 
Increase/(Decrease) related to tax positions taken during prior years23 11 (34)
Decreases related to a lapse of the applicable statute of limitations(58)(25)(21)
Ending balance$248 $237 $237 
Management believes that we have sufficient accrued liabilities as of December 31, 2025 for tax exposures and related interest expense.
Income tax expense included related interest and penalties of approximately $9 million, $8 million and $7 million in 2025, 2024 and 2023, respectively. Total accrued interest and penalties were approximately $29 million as of December 31, 2025, and $21 million as of both December 31, 2024 and 2023.
The table below summarizes income taxes paid for the year ended December 31, 2025 (after adoption of ASU 2023-09):
(In millions)
Year Ended December 31, 2025
U.S. Federal$78 
U.S. State:
    New York State28 
    Other33 
Total U.S. State61 
Foreign:
    United Kingdom110 
    Canada54 
    Luxembourg46 
    Ireland36 
    India34 
    Italy31 
    Other144 
Total Foreign455 
Total income taxes paid$594 
Total income taxes paid for the years ended December 31, 2024 and 2023, were $451 million and $423 million, respectively.
v3.25.4
Earnings Per Common Share
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Common Share Earnings Per Common Share
Basic EPS is calculated pursuant to the two-class method, by dividing net income available to common shareholders by the weighted-average common shares outstanding during the period. Diluted EPS is calculated pursuant to the two-class method, by dividing net income available to common shareholders by the total weighted-average number of common shares outstanding for the period plus the shares representing the dilutive effect of equity-based awards. The effect of equity-based awards is excluded from the calculation of diluted EPS in periods in which their effect would be anti-dilutive.
The two-class method requires the allocation of undistributed net income between common and participating shareholders. Net income available to common shareholders, presented separately in our consolidated statement of income, is the basis for the calculation of both basic and diluted EPS. Participating securities are composed of unvested and fully vested SERP shares and fully vested deferred director stock awards, which are equity-based awards that contain non-forfeitable rights to dividends, and are considered to participate with the common stock in undistributed earnings.
The following table presents the computation of basic and diluted earnings per common share for the periods indicated:
Years Ended December 31,
(Dollars in millions, except per share amounts)202520242023
Net income$2,945 $2,687 $1,944 
Less:
Preferred stock dividends (226)(202)(122)
Dividends and undistributed earnings allocated to participating securities(1)
(2)(2)(1)
Net income available to common shareholders$2,717 $2,483 $1,821 
Average common shares outstanding (In thousands):
Basic average common shares284,545 297,883 322,337 
Effect of dilutive securities: equity-based awards4,474 4,343 4,231 
Diluted average common shares289,019 302,226 326,568 
Anti-dilutive securities(2)
9 14 1,251 
Earnings per common share:
Basic$9.55 $8.33 $5.65 
Diluted(3)
9.40 8.21 5.58 
(1) Represents the portion of net income available to common equity allocated to participating securities, composed of unvested and fully vested SERP (Supplemental executive retirement plans) shares and fully vested deferred director stock awards, which are equity-based awards that contain non-forfeitable rights to dividends, and are considered to participate with the common stock in undistributed earnings.
(2) Represents equity-based awards outstanding, but not included in the computation of diluted average common shares, because their effect was anti-dilutive. Additional information about equity-based awards is provided in Note 18.
(3) Calculations reflect allocation of earnings to participating securities using the two-class method, as this computation is more dilutive than the treasury stock method.
v3.25.4
Line of Business Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Line of Business Information Line of Business Information
Our operations are organized into two lines of business, which represent our reportable segments: Investment Servicing and Investment Management, which are defined based on products and services provided. The results of operations for these lines of business are not necessarily comparable with those of other companies, including companies in the financial services industry.
Investment Servicing provides a broad range of investment servicing and market and financing solutions to institutional clients, including mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, wealth managers, investment managers, foundations and endowments worldwide.
Through State Street Investment Services and State Street Markets, we offer a full range of back-, middle- and front-office solutions, including custody, accounting and fund administration services for traditional and alternative assets, as well as multi-asset class investments; recordkeeping, client reporting and investment book of record, transaction management, loans, cash, derivatives and collateral services; investor services operations outsourcing; performance, risk and compliance analytics; financial data management to support institutional investors; foreign exchange, brokerage and other trading services; securities finance, including prime services products; and deposit and short-term investment facilities.
Together with our back- and middle-office services, CRD’s front- and middle-office technology offerings form the foundation of State Street Alpha. Our State Street Alpha platform combines portfolio management, trading and execution, analytics and compliance tools, along with advanced data aggregation and integration with other industry platforms and providers. Included in CRD’s technology offerings are Charles River Investment Management Solution, a front-office technology offering that automates and simplifies the institutional investment process across asset classes, from portfolio management and risk analytics through trading and post-trade settlement, with integrated compliance and managed data throughout; Charles River for Private Markets, an investment management solution for institutions investing in Private Credit, Private Equity, Real Estate, Infrastructure, and Funds; and Charles River Wealth Management Solution, which provides portfolio management, trading compliance and manager/sponsor communication capabilities to wealth managers, private banks and financial advisors.
Investment Management provides a comprehensive range of investment management solutions and products for our clients through State Street Investment Management (previously State Street Global Advisors). Our investment management solutions span across equity, fixed income, liquidity and cash, multi-asset and alternatives strategies, delivered through products such as ETFs, custom indexed, and actively managed funds and mandates.
Our investment servicing strategy is to focus on total client relationships and the full integration of our products and services across our client base through cross-selling opportunities. In general, our clients will use a combination of services, depending on their needs, rather than one product or service. For instance, a custody client may purchase securities finance and cash management services from different business units. Products and services that we provide to our clients are parts of an integrated offering to these clients. We price our products and services on the basis of overall client relationships and other factors; as a result, revenue may not necessarily reflect the stand-alone market price of these products and services within the business lines in the same way it would for separate business entities.
Our servicing and management fee revenue from the Investment Servicing and Investment Management business lines, including foreign exchange trading services and securities finance activities, represents approximately 70% of our consolidated total revenue. The remaining 30% is composed of software and processing fees, including front office software and data and lending related and other fees, as well as NII, which is largely generated by our investment of client deposits, short-term borrowings and long-term debt in a variety of assets, and net gains (losses) related to investment securities. These other revenue types are generally fully allocated to, or reside in, Investment Servicing and Investment Management.
Revenue and expenses are directly charged or allocated to our lines of business through
management information systems. Our CODM is the chief executive officer. The line of business results are regularly provided to the CODM to evaluate the performance of each line of business and to inform how resources are allocated between those lines of business to best achieve management’s strategic and tactical goals. Capital is allocated based on the relative risks and capital requirements inherent in each business line, along with management judgment. Capital allocations may not be representative of the capital that might be required if these lines of business were separate business entities.
The following is a summary of our line of business results for the periods indicated.
Years Ended December 31,
Investment
Servicing		Investment
Management		OtherTotal
(Dollars in millions)202520242023202520242023202520242023202520242023
Revenue:
Servicing fees$5,324 $5,016 $4,922 $— $— $— $— $— $— $5,324 $5,016 $4,922 
Management fees— — — 2,398 2,124 1,876 — — — 2,398 2,124 1,876 
Foreign exchange trading services1,441 1,248 1,140 170 138 125 3 15 — 1,614 1,401 1,265 
Securities finance481 415 402 24 23 24 — — — 505 438 426 
Software and processing fees927 888 811 — — — (24)— — 903 888 811 
Other fee revenue
209 188 145 27 35 35 — 66 — 236 289 180 
Total fee revenue8,382 7,755 7,420 2,619 2,320 2,060 (21)81 — 10,980 10,156 9,480 
Net interest income2,945 2,899 2,740 15 24 19 — — — 2,960 2,923 2,759 
Total other income4 2 — — — — — (81)(294)4 (79)(294)
Total revenue11,331 10,656 10,160 2,634 2,344 2,079 (21)— (294)13,944 13,000 11,945 
Provision for credit losses59 75 46 — — — — — — 59 75 46 
Expenses:
Compensation and employee benefits4,220 4,078 4,033 604 555 520 211 64 191 5,035 4,697 4,744 
Information systems and communications1,960 1,743 1,568 92 86 94 42 — 41 2,094 1,829 1,703 
Transaction processing services875 825 777 175 173 180 — — — 1,050 998 957 
Other
1,001 1,041 1,035 904 841 746 70 124 398 1,975 2,006 2,179 
Total expenses8,056 7,687 7,413 1,775 1,655 1,540 323 188 630 10,154 9,530 9,583 
Income before income tax expense$3,216 $2,894 $2,701 $859 $689 $539 $(344)$(188)$(924)$3,731 $3,395 $2,316 
Pre-tax margin28 %27 %27 %33 %29 %26 %27 %26 %19 %
Average assets (in billions)$339.9 $308.5 $271.5 $3.6 $3.2 $3.2 $343.5 $311.7 $274.7 
The “Other” columns presented in the previous table, represent amounts that are not allocated to our two lines of business. The following provides additional information about the items included in the line of business results “Other” column for the periods indicated.
Years Ended December 31,
Other
(Dollars in millions)202520242023
Foreign exchange trading services(1)
$3 $15 $— 
Client rescoping (revenue impact)(2)
(24)— — 
Other fee revenue(3)
— 66 — 
Gains (losses) related to investment securities, net(4)
— (81)(294)
Deferred incentive compensation expense acceleration(5)
— (79)— 
Net repositioning (charges) release(6)
(326)2 (203)
Client rescoping (expense impact)(2)
(18)— — 
Other notable items(7)
21 (111)(427)
Total$(344)$(188)$(924)
(1) Amount consists of a revenue-related recovery associated with the proceeds from a 2018 foreign exchange benchmark litigation resolution, which is reflected in foreign exchange trading services revenue.
(2) Amount related to a client rescoping which decreased income before income taxes by $42 million, of which $24 million is reflected in front office software and data revenue and $18 million is reflected in information systems and communications expenses.
(3) Amount consists of a $66 million gain on sale of equity investment, which is reflected in other fee revenue.
(4) Includes the loss on the sale of investment securities of $81 million and $294 million in 2024 and 2023, respectively, related to the repositioning of the investment portfolio.
(5) Deferred compensation expense acceleration of $79 million in 2024 reflected in compensation and employee benefits, associated with an amendment of certain outstanding deferred cash incentive compensation awards to align our deferred pay mix with peers.
(6) Amount in 2025 includes a charge of $211 million, reflected in compensation and employee benefits primarily from workforce rationalization, a $69 million charge reflected in occupancy costs associated with real estate footprint optimization and other repositioning charges of $24 million and $22 million, reflected in information systems and communications and other expenses, respectively, relating to operating model changes. The amount in 2024 includes a $15 million release related to compensation and employee benefits, partially offset by $13 million related to occupancy costs associated with real estate footprint, and net repositioning charges in 2023 includes $182 million reflected in compensation and employee benefits expenses related to workforce rationalization and $21 million of occupancy costs related to real estate footprint optimization.
(7) Amount in 2025 primarily includes an FDIC special assessment release of $60 million and legal and related costs of $40 million reflected in other expenses. Amounts in 2024 and 2023 are primarily related to the FDIC special assessment of $99 million and $387 million, respectively, reflected in other expenses. Other notable items also include a $12 million charge in 2024 reflected in other expenses and $41 million in 2023 reflected in information systems and communications, primarily related to operating model changes.
v3.25.4
Revenue from Contracts with Customers
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
We account for revenue from contracts with customers in accordance with ASC 606. The amount of revenue that we recognize is measured based on the consideration specified in contracts with our customers, and excludes taxes collected from customers subsequently remitted to governmental authorities. We recognize revenue when a performance obligation is satisfied over time as the services are performed or at a point in time depending on the nature of the services provided as further discussed below. Revenue recognition guidance related to contracts with customers excludes our NII, revenue earned on security lending transactions entered into as principal, realized gains/losses on securities, revenue earned on foreign exchange activity, loans and related fees, and gains/losses on hedging and derivatives, to which we apply other applicable U.S. GAAP guidance.
For contracts with multiple performance obligations, or contracts that have been combined, we allocate the contracts’ transaction price to each performance obligation using our best estimate of the standalone selling price. Our contractual fees are negotiated on a customer by customer basis and are representative of standalone selling price utilized for allocating revenue when there are multiple performance obligations.
Substantially all of our services are provided as a distinct series of daily performance obligations that the customer simultaneously benefits from as they are performed. Payments may be made to third party service providers and the expense is recognized gross when we control those services as we are deemed the principal.
Contract durations may vary from short- to long-term or may be open ended. Termination notice periods are in line with general market practice and typically do not include termination penalties. Therefore, for substantially all of our revenues, the duration of the contract and the enforceable rights and obligations do not extend beyond the services that are performed daily or at the transaction level. In instances where we have substantive termination penalties, the duration of the contract may extend through the date of substantive termination penalties.
Investment Servicing
Revenue from contracts with customers related to servicing fees is recognized over time as our customers benefit from the custody, administration, accounting, transfer agency and other related asset services as they are performed. At contract inception, no revenue is estimated as the fees are dependent on assets under custody and/or administration and/or actual transactions which are susceptible to market factors outside of our control. Therefore, revenue is recognized using a time-based output method as the customers benefit from the services over time and as the assets under custody or transactions are known or determinable during each reporting period based on contractual fee schedules. Payments made to third party service providers, such as sub-custodians, are generally recognized gross as we control those services and are deemed to be a principal in such arrangements.
Foreign exchange trading services revenue includes revenue generated from providing access and use of electronic trading platforms and other trading, transition management and brokerage services. Electronic FX services are dependent on the volume of actual transactions initiated through our electronic exchange platforms. Revenue is recognized over time using a time-based measure as access to, and use of, the electronic exchange platforms is made available to the customer and the activity is determinable. Revenue related to other trading, transition management and brokerage services is recognized when the customer obtains the benefit of such services which may be over time or at a point in time upon trade execution.
Securities finance revenue is related to services for providing agency lending programs to State Street Investment Management managed investment funds and third-party investment managers and asset owners. This securities finance revenue is recognized over time using a time-based measure as our customers benefit from these lending services.
Revenue related to the front office solutions provided by CRD is primarily driven by the sale of licenses and SaaS arrangements, including professional services such as consulting and implementation services, software support and maintenance. Revenue for a sale of software to be installed on-premises is recognized at a point in time when the customer benefits from obtaining access to and use of the software license. Revenue for a SaaS-related arrangement is recognized over time as services are provided.
Investment Management
Revenue from contracts with customers related to investment management, investment research and investment advisory services provided through State Street Investment Management is recognized over time as our customers benefit from the services as they are performed. Substantially all of our investment management fees are determined by the value of assets under management and the investment strategies employed. At contract inception, no revenue is estimated as the fees are dependent on assets under management which are susceptible to market factors outside of our control.
Therefore, substantially all of our Investment Management services revenue is recognized using a time-based
output method as the customers benefit from the services over time and as the assets under management are known or determinable during each reporting period based on contractual fee schedules. Payments made to third party service providers, such as payments to others in unitary fee arrangements, are generally recognized on a gross basis when State Street Investment Management controls those services and is deemed to be a principal in such transactions.
Revenue by category
In the following table, revenue is disaggregated by our two lines of business and by revenue stream for which the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The amounts in the “Other” columns were not allocated to our business lines.
Year Ended December 31, 2025
Investment ServicingInvestment ManagementOtherTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2025
Servicing fees$5,324 $— $5,324 $— $— $— $— $— $— $5,324 
Management fees— — — 2,398 — 2,398 — — — 2,398 
Foreign exchange trading services 414 1,027 1,441 170 — 170 — 3 3 1,614 
Securities finance212 269 481 — 24 24 — — — 505 
Software and processing fees 731 196 927 — — — (24)— (24)903 
Other fee revenue— 209 209 — 27 27 — — — 236 
Total fee revenue6,681 1,701 8,382 2,568 51 2,619 (24)3 (21)10,980 
Net interest income— 2,945 2,945 — 15 15 — — — 2,960 
Total other income— 4 4 — — — — — — 4 
Total revenue$6,681 $4,650 $11,331 $2,568 $66 $2,634 $(24)$3 $(21)$13,944 
Year Ended December 31, 2024
Investment ServicingInvestment ManagementOtherTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2024
Servicing fees$5,016 $— $5,016 $— $— $— $— $— $— $5,016 
Management fees— — — 2,124 — 2,124 — — — 2,124 
Foreign exchange trading services 386 862 1,248 138 — 138 — 15 15 1,401 
Securities finance185 230 415 — 23 23 — — — 438 
Software and processing fees 685 203 888 — — — — — — 888 
Other fee revenue— 188 188 — 35 35 — 66 66 289 
Total fee revenue6,272 1,483 7,755 2,262 58 2,320 — 81 81 10,156 
Net interest income— 2,899 2,899 — 24 24 — — — 2,923 
Total other income— 2 2 — — — — (81)(81)(79)
Total revenue$6,272 $4,384 $10,656 $2,262 $82 $2,344 $— $— $— $13,000 
Year Ended December 31, 2023
Investment ServicingInvestment ManagementOtherTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2023
Servicing fees$4,922 $— $4,922 $— $— $— $— $— $— $4,922 
Management fees— — — 1,876 — 1,876 — — — 1,876 
Foreign exchange trading services344 796 1,140 125 — 125 — — — 1,265 
Securities finance225 177 402 — 24 24 — — — 426 
Software and processing fees627 184 811 — — — — — — 811 
Other fee revenue— 145 145 — 35 35 — — — 180 
Total fee revenue6,118 1,302 7,420 2,001 59 2,060 — — — 9,480 
Net interest income— 2,740 2,740 — 19 19 — — — 2,759 
Total other income— — — — — — — (294)(294)(294)
Total revenue$6,118 $4,042 $10,160 $2,001 $78 $2,079 $— $(294)$(294)$11,945 
Contract balances
As of December 31, 2025 and 2024, net receivables of $3.51 billion and $3.08 billion, respectively, are included in accrued interest and fees receivable and other assets, representing amounts billed or currently billable related to revenue from contracts with customers. As performance obligations are satisfied, we have an unconditional right to payment and billing is generally performed monthly or quarterly.
We had $131 million and $144 million of deferred revenue as of December 31, 2025 and 2024, respectively. Deferred revenue is a contract liability which represents payments received and accounts receivable recorded in advance of providing services and is included in accrued expenses and other liabilities in the consolidated statement of condition. In the year ended December 31, 2025, we recognized revenue of $121 million relating to deferred revenue of $144 million as of December 31, 2024.
Transaction price allocated to the remaining performance obligations represents future, non-cancellable contracted revenue that has not yet been recognized, inclusive of deferred revenue that has been invoiced and non-cancellable amounts that will be invoiced and recognized as revenue in future periods. As of December 31, 2025, total remaining non-cancelable performance obligations for services and products not yet delivered, primarily comprised of software license sales and SaaS, were approximately $2.07 billion. We expect to recognize approximately half of this amount in revenue over the next three years, with the remainder to be recognized thereafter.
No adjustments are made to the promised amount of consideration for the effects of a significant financing component as the period between when we transfer a promised service to a customer and when the customer pays for that service is expected to be one year or less.
Non-U.S. Activities
We define our non-U.S. activities as those revenue-producing business activities that arise from clients that are generally serviced or managed outside the U.S. Due to the integrated nature of our business, precise segregation of our U.S. and non-U.S. activities is not possible.
Subjective estimates, assumptions and other judgments are applied to quantify the financial results and assets related to our non-U.S. activities, including our application of funds transfer pricing, our asset and liability management policies and our allocation of certain indirect corporate expenses. Management periodically reviews and updates its processes for quantifying the financial results and assets related to our non-U.S. activities.
The following table presents our U.S. and non-U.S. financial results for the periods indicated:
Years Ended December 31,
202520242023
(In millions)
Non-U.S.(1)
U.S.Total
Non-U.S.(1)
U.S.Total
Non-U.S.(1)
U.S.Total
Total revenue$5,936 $8,008 $13,944 $5,485 $7,515 $13,000 $5,108 $6,837 $11,945 
Income before income tax expense 1,493 2,238 3,731 1,376 2,019 3,395 1,057 1,259 2,316 
(1) Geographic mix is generally based on the domicile of the entity servicing the funds and is not necessarily representative of the underlying asset mix.
Non-U.S. assets were $95.68 billion and $88.35 billion as of December 31, 2025 and 2024, respectively.
v3.25.4
Non-U.S. Activities
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Non-U.S. Activities Revenue from Contracts with Customers
We account for revenue from contracts with customers in accordance with ASC 606. The amount of revenue that we recognize is measured based on the consideration specified in contracts with our customers, and excludes taxes collected from customers subsequently remitted to governmental authorities. We recognize revenue when a performance obligation is satisfied over time as the services are performed or at a point in time depending on the nature of the services provided as further discussed below. Revenue recognition guidance related to contracts with customers excludes our NII, revenue earned on security lending transactions entered into as principal, realized gains/losses on securities, revenue earned on foreign exchange activity, loans and related fees, and gains/losses on hedging and derivatives, to which we apply other applicable U.S. GAAP guidance.
For contracts with multiple performance obligations, or contracts that have been combined, we allocate the contracts’ transaction price to each performance obligation using our best estimate of the standalone selling price. Our contractual fees are negotiated on a customer by customer basis and are representative of standalone selling price utilized for allocating revenue when there are multiple performance obligations.
Substantially all of our services are provided as a distinct series of daily performance obligations that the customer simultaneously benefits from as they are performed. Payments may be made to third party service providers and the expense is recognized gross when we control those services as we are deemed the principal.
Contract durations may vary from short- to long-term or may be open ended. Termination notice periods are in line with general market practice and typically do not include termination penalties. Therefore, for substantially all of our revenues, the duration of the contract and the enforceable rights and obligations do not extend beyond the services that are performed daily or at the transaction level. In instances where we have substantive termination penalties, the duration of the contract may extend through the date of substantive termination penalties.
Investment Servicing
Revenue from contracts with customers related to servicing fees is recognized over time as our customers benefit from the custody, administration, accounting, transfer agency and other related asset services as they are performed. At contract inception, no revenue is estimated as the fees are dependent on assets under custody and/or administration and/or actual transactions which are susceptible to market factors outside of our control. Therefore, revenue is recognized using a time-based output method as the customers benefit from the services over time and as the assets under custody or transactions are known or determinable during each reporting period based on contractual fee schedules. Payments made to third party service providers, such as sub-custodians, are generally recognized gross as we control those services and are deemed to be a principal in such arrangements.
Foreign exchange trading services revenue includes revenue generated from providing access and use of electronic trading platforms and other trading, transition management and brokerage services. Electronic FX services are dependent on the volume of actual transactions initiated through our electronic exchange platforms. Revenue is recognized over time using a time-based measure as access to, and use of, the electronic exchange platforms is made available to the customer and the activity is determinable. Revenue related to other trading, transition management and brokerage services is recognized when the customer obtains the benefit of such services which may be over time or at a point in time upon trade execution.
Securities finance revenue is related to services for providing agency lending programs to State Street Investment Management managed investment funds and third-party investment managers and asset owners. This securities finance revenue is recognized over time using a time-based measure as our customers benefit from these lending services.
Revenue related to the front office solutions provided by CRD is primarily driven by the sale of licenses and SaaS arrangements, including professional services such as consulting and implementation services, software support and maintenance. Revenue for a sale of software to be installed on-premises is recognized at a point in time when the customer benefits from obtaining access to and use of the software license. Revenue for a SaaS-related arrangement is recognized over time as services are provided.
Investment Management
Revenue from contracts with customers related to investment management, investment research and investment advisory services provided through State Street Investment Management is recognized over time as our customers benefit from the services as they are performed. Substantially all of our investment management fees are determined by the value of assets under management and the investment strategies employed. At contract inception, no revenue is estimated as the fees are dependent on assets under management which are susceptible to market factors outside of our control.
Therefore, substantially all of our Investment Management services revenue is recognized using a time-based
output method as the customers benefit from the services over time and as the assets under management are known or determinable during each reporting period based on contractual fee schedules. Payments made to third party service providers, such as payments to others in unitary fee arrangements, are generally recognized on a gross basis when State Street Investment Management controls those services and is deemed to be a principal in such transactions.
Revenue by category
In the following table, revenue is disaggregated by our two lines of business and by revenue stream for which the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The amounts in the “Other” columns were not allocated to our business lines.
Year Ended December 31, 2025
Investment ServicingInvestment ManagementOtherTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2025
Servicing fees$5,324 $— $5,324 $— $— $— $— $— $— $5,324 
Management fees— — — 2,398 — 2,398 — — — 2,398 
Foreign exchange trading services 414 1,027 1,441 170 — 170 — 3 3 1,614 
Securities finance212 269 481 — 24 24 — — — 505 
Software and processing fees 731 196 927 — — — (24)— (24)903 
Other fee revenue— 209 209 — 27 27 — — — 236 
Total fee revenue6,681 1,701 8,382 2,568 51 2,619 (24)3 (21)10,980 
Net interest income— 2,945 2,945 — 15 15 — — — 2,960 
Total other income— 4 4 — — — — — — 4 
Total revenue$6,681 $4,650 $11,331 $2,568 $66 $2,634 $(24)$3 $(21)$13,944 
Year Ended December 31, 2024
Investment ServicingInvestment ManagementOtherTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2024
Servicing fees$5,016 $— $5,016 $— $— $— $— $— $— $5,016 
Management fees— — — 2,124 — 2,124 — — — 2,124 
Foreign exchange trading services 386 862 1,248 138 — 138 — 15 15 1,401 
Securities finance185 230 415 — 23 23 — — — 438 
Software and processing fees 685 203 888 — — — — — — 888 
Other fee revenue— 188 188 — 35 35 — 66 66 289 
Total fee revenue6,272 1,483 7,755 2,262 58 2,320 — 81 81 10,156 
Net interest income— 2,899 2,899 — 24 24 — — — 2,923 
Total other income— 2 2 — — — — (81)(81)(79)
Total revenue$6,272 $4,384 $10,656 $2,262 $82 $2,344 $— $— $— $13,000 
Year Ended December 31, 2023
Investment ServicingInvestment ManagementOtherTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2023
Servicing fees$4,922 $— $4,922 $— $— $— $— $— $— $4,922 
Management fees— — — 1,876 — 1,876 — — — 1,876 
Foreign exchange trading services344 796 1,140 125 — 125 — — — 1,265 
Securities finance225 177 402 — 24 24 — — — 426 
Software and processing fees627 184 811 — — — — — — 811 
Other fee revenue— 145 145 — 35 35 — — — 180 
Total fee revenue6,118 1,302 7,420 2,001 59 2,060 — — — 9,480 
Net interest income— 2,740 2,740 — 19 19 — — — 2,759 
Total other income— — — — — — — (294)(294)(294)
Total revenue$6,118 $4,042 $10,160 $2,001 $78 $2,079 $— $(294)$(294)$11,945 
Contract balances
As of December 31, 2025 and 2024, net receivables of $3.51 billion and $3.08 billion, respectively, are included in accrued interest and fees receivable and other assets, representing amounts billed or currently billable related to revenue from contracts with customers. As performance obligations are satisfied, we have an unconditional right to payment and billing is generally performed monthly or quarterly.
We had $131 million and $144 million of deferred revenue as of December 31, 2025 and 2024, respectively. Deferred revenue is a contract liability which represents payments received and accounts receivable recorded in advance of providing services and is included in accrued expenses and other liabilities in the consolidated statement of condition. In the year ended December 31, 2025, we recognized revenue of $121 million relating to deferred revenue of $144 million as of December 31, 2024.
Transaction price allocated to the remaining performance obligations represents future, non-cancellable contracted revenue that has not yet been recognized, inclusive of deferred revenue that has been invoiced and non-cancellable amounts that will be invoiced and recognized as revenue in future periods. As of December 31, 2025, total remaining non-cancelable performance obligations for services and products not yet delivered, primarily comprised of software license sales and SaaS, were approximately $2.07 billion. We expect to recognize approximately half of this amount in revenue over the next three years, with the remainder to be recognized thereafter.
No adjustments are made to the promised amount of consideration for the effects of a significant financing component as the period between when we transfer a promised service to a customer and when the customer pays for that service is expected to be one year or less.
Non-U.S. Activities
We define our non-U.S. activities as those revenue-producing business activities that arise from clients that are generally serviced or managed outside the U.S. Due to the integrated nature of our business, precise segregation of our U.S. and non-U.S. activities is not possible.
Subjective estimates, assumptions and other judgments are applied to quantify the financial results and assets related to our non-U.S. activities, including our application of funds transfer pricing, our asset and liability management policies and our allocation of certain indirect corporate expenses. Management periodically reviews and updates its processes for quantifying the financial results and assets related to our non-U.S. activities.
The following table presents our U.S. and non-U.S. financial results for the periods indicated:
Years Ended December 31,
202520242023
(In millions)
Non-U.S.(1)
U.S.Total
Non-U.S.(1)
U.S.Total
Non-U.S.(1)
U.S.Total
Total revenue$5,936 $8,008 $13,944 $5,485 $7,515 $13,000 $5,108 $6,837 $11,945 
Income before income tax expense 1,493 2,238 3,731 1,376 2,019 3,395 1,057 1,259 2,316 
(1) Geographic mix is generally based on the domicile of the entity servicing the funds and is not necessarily representative of the underlying asset mix.
Non-U.S. assets were $95.68 billion and $88.35 billion as of December 31, 2025 and 2024, respectively.
v3.25.4
Parent Company Financial Statements
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
Parent Company Financial Statements Parent Company Financial Statements
The following tables present the financial statements of the Parent Company without consolidation of its banking and non-banking subsidiaries, as of and for the years indicated:
Statement of Income - Parent Company
Years Ended December 31,
(In millions)202520242023
Cash dividends from consolidated banking subsidiary$2,600 $1,250 $4,550 
Cash dividends from consolidated non-banking subsidiaries and unconsolidated entities316 58 320 
Other, net593 516 274 
Total revenue3,509 1,824 5,144 
Interest expense1,235 1,170 975 
Other expenses257 239 198 
Total expenses1,492 1,409 1,173 
Income tax benefit
(209)(232)(224)
Income before equity in undistributed income of consolidated subsidiaries and unconsolidated entities
2,226 647 4,195 
Equity in undistributed income (loss) of consolidated subsidiaries and unconsolidated entities:
Consolidated banking subsidiary425 1,522 (2,464)
Consolidated non-banking subsidiaries and unconsolidated entities294 518 213 
Net income$2,945 $2,687 $1,944 
Statement of Condition - Parent Company
As of December 31,
(In millions)20252024
Assets:
Interest-bearing deposits with consolidated banking subsidiary$627 $438 
Trading account assets539 499 
Investment securities available-for-sale428 378 
Investments in:
Consolidated banking subsidiary28,919 27,504 
Consolidated non-banking subsidiaries11,584 10,487 
Unconsolidated entities104 114 
Notes and other receivables from:
Consolidated banking subsidiary142 170 
Consolidated non-banking subsidiaries and unconsolidated entities10,805 9,211 
Other assets218 127 
Total assets$53,366 $48,928 
Liabilities:
Notes and other payables to:
  Consolidated banking subsidiary$9 $— 
  Consolidated non-banking subsidiaries and unconsolidated entities2,082 2,063 
Accrued expenses and other liabilities679 652 
Long-term debt22,755 20,887 
Total liabilities25,525 23,602 
Shareholders’ equity27,841 25,326 
Total liabilities and shareholders’ equity$53,366 $48,928 
Statement of Cash Flows - Parent Company
Years Ended December 31,
(In millions)202520242023
Net cash provided by operating activities
$2,283 $622 $4,194 
Investing Activities:
Net (decrease) increase in interest-bearing deposits with consolidated banking subsidiary
(189)221 (199)
Proceeds from sales and maturities of available-for-sale securities1,670 1,120 830 
Purchases of available-for-sale securities(1,701)(1,204)(836)
Investments in consolidated banking and non-banking subsidiaries(11,102)(9,330)(10,784)
Sale or repayment of investment in consolidated banking and non-banking subsidiaries9,100 7,875 7,920 
Net cash used in investing activities
(2,222)(1,318)(3,069)
Financing Activities:
Proceeds from issuance of long-term debt, net of issuance costs5,722 4,281 6,221 
Payments for long-term debt(4,100)(2,000)(2,500)
Proceeds from issuance of preferred stock, net of issuance costs743 2,350 — 
Payments for redemption of preferred stock— (1,500)— 
Repurchases of common stock(1,200)(1,319)(3,781)
Repurchases of common stock for employee tax withholding(106)(83)(95)
Payments for cash dividends(1,120)(1,033)(970)
Net cash (used in) provided by financing activities
(61)696 (1,125)
Net change— — — 
Cash and due from banks at beginning of year— — — 
Cash and due from banks at end of year$— $— $— 
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Ronald O’Hanley [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
The following table describes contracts, instructions or written plans for the sale or purchase of our securities adopted by executive officers during the fourth quarter of 2025, which are intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), referred to as a Rule 10b5-1 trading plan.
Name and Title
Date of Adoption of Rule 10b5-1 Trading Plan
Scheduled Expiration Date of Rule 10b5-1 Trading Plan(1)
Aggregate Number of Securities to Be Purchased or Sold
Ronald O’Hanley
Chairman, Chief Executive Officer and President
11/26/202511/30/2026
Sale of up to 130,216 shares of common stock in transactions during 2025 and 2026
(1) A trading plan may also expire on such earlier date as all transactions under the trading plan are completed.
Name Ronald O’Hanley
Title Chairman, Chief Executive Officer and President
Rule 10b5-1 Arrangement Adopted true
Adoption Date 11/26/2025
Expiration Date 11/30/2026
Arrangement Duration 369 days
Eric W. Aboaf [Member]  
Trading Arrangements, by Individual  
Aggregate Available 130,216
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Cybersecurity risk is an integral part of our enterprise risk management and is managed as part of our overall information technology risk under the direction of our Chief Information Security Officer (CISO). Our CISO is an executive vice president at State Street and is responsible for our overall information security program.
Before joining State Street, our CISO worked at a global information technology firm for more than 10 years, holding various positions, including senior vice president and chief security officer, and, prior to that, chief information security officer for that firm’s software division. Earlier on, she held leadership and general manager roles at an information management firm and an information security firm, each based in both the United States and Europe. She has worked with the World Economic Forum as a member of their Global Future Council on Cybersecurity. She holds a Doctor of Philosophy in information security and a Bachelor of Science in computer science.
We recognize the significance of cyber-attacks and take steps to mitigate the risks associated with them. We invest in building and maintaining a mature cybersecurity program to leverage people, technology and processes to protect our systems and the data in our care. We have also implemented a program to help us better measure and manage cybersecurity risk, including those risks we face when we engage third parties for products and services.
We design our information and systems access restrictions referencing the National Institute of Standards and Technology 800-53R5 and NIST CSF 2.0 Framework and use the supplemental requirements as implementation guidance. Our information security policies and standards are reviewed and updated for new regulatory changes and/or mandates. These standards are applicable to all corporate functions, business units, subsidiaries and controlled affiliates across the enterprise. Annual audits are conducted by internal and external parties to measure compliance and adherence to the standards.
All employees and third parties that have access to our systems or networks are required to adhere to our cybersecurity policy and standards. Our centralized information security group provides education and training. This training includes a required annual online training class for all employees and third parties that have access to our systems or networks, multiple simulated phishing attacks and regular information security awareness materials. Every employee and contractor has a defined role in protecting systems and information of State Street, our clients and others. They are responsible for complying with the information security program, reporting suspected violations and threats, and protecting the confidentiality of information assets of us, our clients and others at all times.
We employ Information Security Officers to help the business better understand and manage their information security risks, as well as to work with the centralized Global Cybersecurity team to drive awareness and compliance throughout the business.
We use independent third parties to perform ethical hacks of key systems and penetration tests of our network and certain applications to help us better understand the effectiveness of our controls and to implement more effective controls, and we engage with third parties to conduct reviews of our overall program to help us better align our cybersecurity program with what is required of a large financial services organization.
We have an incident response program in place that is designed to enable a coordinated response to mitigate the impact of cyber-attacks, recover from the attack and to drive the appropriate level of communication to internal and external stakeholders, including timely reporting of material incidents in accordance with SEC rules.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
Cybersecurity risk is an integral part of our enterprise risk management and is managed as part of our overall information technology risk under the direction of our Chief Information Security Officer (CISO). Our CISO is an executive vice president at State Street and is responsible for our overall information security program.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
The TORC, an executive management committee, assesses and manages the effectiveness of our cybersecurity program, which is overseen by the TOPS of our Board. The TOPS receives regular cybersecurity updates throughout the year and is responsible for reviewing and approving the cybersecurity policy on an annual basis. We have not identified any risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents, that have materially affected or are reasonably likely to materially affect us, including our operations, business strategy, results of operations or financial condition.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The TORC, an executive management committee, assesses and manages the effectiveness of our cybersecurity program, which is overseen by the TOPS of our Board.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The TOPS receives regular cybersecurity updates throughout the year and is responsible for reviewing and approving the cybersecurity policy on an annual basis.
Cybersecurity Risk Role of Management [Text Block]
Cybersecurity risk is an integral part of our enterprise risk management and is managed as part of our overall information technology risk under the direction of our Chief Information Security Officer (CISO). Our CISO is an executive vice president at State Street and is responsible for our overall information security program.
Before joining State Street, our CISO worked at a global information technology firm for more than 10 years, holding various positions, including senior vice president and chief security officer, and, prior to that, chief information security officer for that firm’s software division. Earlier on, she held leadership and general manager roles at an information management firm and an information security firm, each based in both the United States and Europe. She has worked with the World Economic Forum as a member of their Global Future Council on Cybersecurity. She holds a Doctor of Philosophy in information security and a Bachelor of Science in computer science.
We recognize the significance of cyber-attacks and take steps to mitigate the risks associated with them. We invest in building and maintaining a mature cybersecurity program to leverage people, technology and processes to protect our systems and the data in our care. We have also implemented a program to help us better measure and manage cybersecurity risk, including those risks we face when we engage third parties for products and services.
We design our information and systems access restrictions referencing the National Institute of Standards and Technology 800-53R5 and NIST CSF 2.0 Framework and use the supplemental requirements as implementation guidance. Our information security policies and standards are reviewed and updated for new regulatory changes and/or mandates. These standards are applicable to all corporate functions, business units, subsidiaries and controlled affiliates across the enterprise. Annual audits are conducted by internal and external parties to measure compliance and adherence to the standards.
All employees and third parties that have access to our systems or networks are required to adhere to our cybersecurity policy and standards. Our centralized information security group provides education and training. This training includes a required annual online training class for all employees and third parties that have access to our systems or networks, multiple simulated phishing attacks and regular information security awareness materials. Every employee and contractor has a defined role in protecting systems and information of State Street, our clients and others. They are responsible for complying with the information security program, reporting suspected violations and threats, and protecting the confidentiality of information assets of us, our clients and others at all times.
We employ Information Security Officers to help the business better understand and manage their information security risks, as well as to work with the centralized Global Cybersecurity team to drive awareness and compliance throughout the business.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Our CISO is an executive vice president at State Street and is responsible for our overall information security program.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]
Before joining State Street, our CISO worked at a global information technology firm for more than 10 years, holding various positions, including senior vice president and chief security officer, and, prior to that, chief information security officer for that firm’s software division. Earlier on, she held leadership and general manager roles at an information management firm and an information security firm, each based in both the United States and Europe. She has worked with the World Economic Forum as a member of their Global Future Council on Cybersecurity. She holds a Doctor of Philosophy in information security and a Bachelor of Science in computer science.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The TOPS receives regular cybersecurity updates throughout the year and is responsible for reviewing and approving the cybersecurity policy on an annual basis.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
The accounting and financial reporting policies of State Street Corporation conform to U.S. GAAP. State Street Corporation, the Parent Company, is a financial holding company headquartered in Boston, Massachusetts. Unless otherwise indicated or unless the context requires otherwise, all references in these notes to consolidated financial statements to “State Street,” “we,” “us,” “our” or similar references mean State Street Corporation and its subsidiaries on a consolidated basis, including our principal banking subsidiary, State Street Bank.
We have two lines of business:
Investment Servicing provides a broad range of investment servicing and market and financing solutions to institutional clients, including mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, wealth managers, investment managers, foundations and endowments worldwide.
Through State Street Investment Services and State Street Markets, we offer a full range of back-, middle- and front-office solutions, including custody, accounting and fund administration services for traditional and alternative assets, as well as multi-asset class investments; recordkeeping, client reporting and investment book of record, transaction management, loans, cash, derivatives and collateral services; investor services operations outsourcing; performance, risk and compliance analytics; financial data management to support institutional investors; foreign exchange, brokerage and other trading services; securities finance, including prime services products; and deposit and short-term investment facilities.
Together with our back- and middle-office services, CRD’s front- and middle-office technology offerings form the foundation of State Street Alpha. Our State Street Alpha platform combines portfolio management, trading and execution, analytics and compliance tools, along with advanced data aggregation and integration with other industry platforms and providers. Included in CRD’s technology offerings are Charles River Investment Management Solution, a front-office technology offering that automates and simplifies the institutional investment process across asset classes, from portfolio management and risk analytics through trading and post-trade settlement, with integrated compliance and managed data throughout; Charles River for Private Markets, an investment management solution for institutions investing in Private Credit, Private Equity, Real Estate,
Infrastructure, and Funds; and Charles River Wealth Management Solution, which provides portfolio management, trading compliance and manager/sponsor communication capabilities to wealth managers, private banks and financial advisors.
Investment Management provides a comprehensive range of investment management solutions and products for our clients through State Street Investment Management (previously State Street Global Advisors). Our investment management solutions span across equity, fixed income, liquidity and cash, multi-asset and alternatives strategies, delivered through products such as ETFs, custom indexed, and actively managed funds and mandates.
Consolidation
Consolidation
Our consolidated financial statements include the accounts of the Parent Company and its majority- and wholly-owned and otherwise controlled subsidiaries, including State Street Bank. All material inter-company transactions and balances have been eliminated. Certain previously reported amounts have been reclassified to conform to current-year presentation.
We consolidate subsidiaries in which we exercise control. Equity investments where we have the ability to exercise significant influence over the operations of the investee are generally accounted for under the equity method of accounting and are recorded in other assets. Income or losses from investments accounted for under the equity method are recorded in other fee revenue in our consolidated statement of income. Equity investments that do not meet the criteria for equity-method treatment are measured at fair value through earnings, except for investments in low-income housing and production tax credit entities (see Note 14 for further information) or where one of two U.S. GAAP exceptions applies. The first exception allows Federal Reserve Bank stock, Federal Home Loan Bank stock and exchange memberships to remain accounted for at cost, less impairment. The second exception is for equity investments where fair market value is not readily available, which are accounted for at cost, less impairment, adjusted for any observable price changes in orderly transactions for the identical or a similar investment of the same issuer, with any such changes reflected in other fee revenue.
Use of Estimates
Use of Estimates
The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions in the application of certain of our significant accounting policies that may materially affect the reported amounts of assets, liabilities, equity, revenue and expenses. As a result of unanticipated events or
circumstances, actual results could differ from those estimates.
Foreign Currency Translation
Foreign Currency Translation
The assets and liabilities of our operations with functional currencies other than the U.S. dollar are translated at month-end exchange rates, and revenue and expenses are translated at rates that approximate average monthly exchange rates. Gains or losses from the translation of the net assets of subsidiaries with functional currencies other than the U.S. dollar, net of related taxes, are recorded in AOCI, a component of shareholders’ equity.
Cash and Cash Equivalents
Cash and Cash Equivalents
For purposes of the consolidated statement of cash flows, cash and cash equivalents are defined as cash and due from banks.
Sanctions programs or government intervention may inhibit our ability to access cash and due from banks in certain accounts. For example, as of December 31, 2025 and 2024, we held such accounts in Russia that were subject to sanctions restrictions, inclusive of $1.6 billion and $0.8 billion, respectively, with our subcustodian, and with western European-based clearing agencies, for a total of approximately $2.4 billion and $1.3 billion, respectively. Cash and due from banks is evaluated as part of our allowance for credit losses.
Interest-Bearing Deposits with Banks
Interest-Bearing Deposits with Banks
Interest-bearing deposits with banks generally consist of highly liquid, short-term investments maintained at the Federal Reserve Bank and other non-U.S. central banks with original maturities at the time of purchase of one month or less.
Securities Purchased Under Resale Agreements and Securities Sold Under Repurchase Agreements
Securities Purchased Under Resale Agreements and Securities Sold Under Repurchase Agreements
Securities purchased under resale agreements and sold under repurchase agreements are accounted for as collateralized financing transactions, and are recorded in our consolidated statement of condition at the amounts at which the securities will be subsequently resold or repurchased, plus accrued interest. Our policy is to take possession or control of securities underlying resale agreements either directly or through agent banks, allowing borrowers the right of collateral substitution and/or short-notice termination. We revalue these securities daily to determine if additional collateral is necessary from the borrower to protect us against credit exposure. We
can use these securities as collateral for repurchase agreements.
For securities sold under repurchase agreements collateralized by our investment securities portfolio, the dollar value of the securities remains in investment securities in our consolidated statement of condition. Where a master netting agreement exists or when both parties are members of a common clearing organization, resale and repurchase agreements are recorded on a net basis when specific netting criteria are met.
Fee and Net Interest Income
Fee and Net Interest Income
The majority of fees from investment servicing, investment management, securities finance, trading services and certain types of software and processing fees are recorded in our consolidated statement of income based on the consideration specified in contracts with our customers, and excludes taxes collected from customers subsequently remitted to governmental authorities. We recognize revenue as the services are performed or at a point in time depending on the nature of the services provided. Payments made to third party service providers are generally recognized on a gross basis when we control those services and are deemed to be the principal. Additional information about revenue from contracts with customers is provided in Note 25.
Interest income on interest-earning assets and interest expense on interest-bearing liabilities are recorded in our consolidated statement of income as components of NII, and are generally based on the effective yield of the related financial asset or liability.
We account for revenue from contracts with customers in accordance with ASC 606. The amount of revenue that we recognize is measured based on the consideration specified in contracts with our customers, and excludes taxes collected from customers subsequently remitted to governmental authorities. We recognize revenue when a performance obligation is satisfied over time as the services are performed or at a point in time depending on the nature of the services provided as further discussed below. Revenue recognition guidance related to contracts with customers excludes our NII, revenue earned on security lending transactions entered into as principal, realized gains/losses on securities, revenue earned on foreign exchange activity, loans and related fees, and gains/losses on hedging and derivatives, to which we apply other applicable U.S. GAAP guidance.
For contracts with multiple performance obligations, or contracts that have been combined, we allocate the contracts’ transaction price to each performance obligation using our best estimate of the standalone selling price. Our contractual fees are negotiated on a customer by customer basis and are representative of standalone selling price utilized for allocating revenue when there are multiple performance obligations.
Substantially all of our services are provided as a distinct series of daily performance obligations that the customer simultaneously benefits from as they are performed. Payments may be made to third party service providers and the expense is recognized gross when we control those services as we are deemed the principal.
Contract durations may vary from short- to long-term or may be open ended. Termination notice periods are in line with general market practice and typically do not include termination penalties. Therefore, for substantially all of our revenues, the duration of the contract and the enforceable rights and obligations do not extend beyond the services that are performed daily or at the transaction level. In instances where we have substantive termination penalties, the duration of the contract may extend through the date of substantive termination penalties.
Investment Servicing
Revenue from contracts with customers related to servicing fees is recognized over time as our customers benefit from the custody, administration, accounting, transfer agency and other related asset services as they are performed. At contract inception, no revenue is estimated as the fees are dependent on assets under custody and/or administration and/or actual transactions which are susceptible to market factors outside of our control. Therefore, revenue is recognized using a time-based output method as the customers benefit from the services over time and as the assets under custody or transactions are known or determinable during each reporting period based on contractual fee schedules. Payments made to third party service providers, such as sub-custodians, are generally recognized gross as we control those services and are deemed to be a principal in such arrangements.
Foreign exchange trading services revenue includes revenue generated from providing access and use of electronic trading platforms and other trading, transition management and brokerage services. Electronic FX services are dependent on the volume of actual transactions initiated through our electronic exchange platforms. Revenue is recognized over time using a time-based measure as access to, and use of, the electronic exchange platforms is made available to the customer and the activity is determinable. Revenue related to other trading, transition management and brokerage services is recognized when the customer obtains the benefit of such services which may be over time or at a point in time upon trade execution.
Securities finance revenue is related to services for providing agency lending programs to State Street Investment Management managed investment funds and third-party investment managers and asset owners. This securities finance revenue is recognized over time using a time-based measure as our customers benefit from these lending services.
Revenue related to the front office solutions provided by CRD is primarily driven by the sale of licenses and SaaS arrangements, including professional services such as consulting and implementation services, software support and maintenance. Revenue for a sale of software to be installed on-premises is recognized at a point in time when the customer benefits from obtaining access to and use of the software license. Revenue for a SaaS-related arrangement is recognized over time as services are provided.
Investment Management
Revenue from contracts with customers related to investment management, investment research and investment advisory services provided through State Street Investment Management is recognized over time as our customers benefit from the services as they are performed. Substantially all of our investment management fees are determined by the value of assets under management and the investment strategies employed. At contract inception, no revenue is estimated as the fees are dependent on assets under management which are susceptible to market factors outside of our control.
Therefore, substantially all of our Investment Management services revenue is recognized using a time-based
output method as the customers benefit from the services over time and as the assets under management are known or determinable during each reporting period based on contractual fee schedules. Payments made to third party service providers, such as payments to others in unitary fee arrangements, are generally recognized on a gross basis when State Street Investment Management controls those services and is deemed to be a principal in such transactions.
Recent Accounting Developments
Recent Accounting Developments
Relevant standards that were adopted during the year ended December 31, 2025:
We adopted ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, prospectively for the annual reporting period ending December 31, 2025. The standard aims to improve transparency and comparability of income tax disclosures primarily by requiring consistent and expanded disclosures related to the reconciliation of the statutory and effective tax rate and disaggregated disclosure of income taxes paid by jurisdiction. Refer to Note 22 for additional information.
Relevant standards that were recently issued, but not yet adopted as of December 31, 2025
Standard
Description
Effective DateEffects on the financial statements or other significant matters
ASU 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements
The amendments introduce targeted improvements to closely align hedge accounting with an entity’s risk management activities. The ASU expands the hedged risks permitted to be aggregated in a group of individual forecasted transactions in a cash flow hedge, introduces a new model for hedging forecasted interest payments on choose your rate debt instruments, and expands eligibility for certain hedged risks (nonfinancial forecasted transactions, net written options as hedging instruments and foreign currency dual hedge strategy).
Annual reporting for the period ending December 31, 2027 and for interim reporting in 2027. Early adoption is permitted.
We are currently evaluating the impact of this guidance.
ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software
The update removes all references to prescriptive and sequential software development stages, and amends related disclosures. Capitalization of software costs will commence when both i) management has authorized and committed to funding the software project, and ii) it is probable that the project will be completed and the software will be used to perform the function intended (referred to as the “probable-to-complete recognition threshold”).
Annual and interim reporting periods beginning after December 15, 2027. Early adoption is permitted.
We are currently evaluating the impact of this guidance.
ASU 2024-03, Income Statement (Subtopic 220-40): Reporting Comprehensive Income - Expense Disaggregation DisclosuresThe amendments require disclosure of information about certain costs and expenses in both interim and annual reporting periods. Specified information includes expense amounts relating to purchases of inventory, employee compensation, depreciation, intangible asset amortization, and selling expenses with the definition thereof.Annual reporting for the period ending December 31, 2027 and for interim reporting in 2028. Early adoption is permitted.We are currently evaluating the disclosure impact of the new standard.
Additionally, we continue to evaluate other accounting standards that were recently issued, but not yet adopted as of December 31, 2025; none are expected to have a material impact to our financial statements.
Fair Value Measurements
Fair Value Measurements
We carry trading account assets and liabilities, AFS debt securities, certain equity securities and various types of derivative financial instruments, at fair value in our consolidated statement of condition on a recurring basis. Changes in the fair values of these financial assets and liabilities are recorded either as components of our consolidated statement of income or as components of AOCI within shareholders’ equity in our consolidated statement of condition.
We measure fair value for the above-described financial assets and liabilities in conformity with U.S. GAAP that governs the measurement of the fair value of financial instruments. Management believes that its valuation techniques and underlying assumptions used to measure fair value conform to the provisions of U.S. GAAP. We categorize the financial assets and liabilities that we carry at fair value based on a prescribed three-level valuation hierarchy. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (level 1) and the lowest priority to valuation methods using significant unobservable inputs (level 3). If the inputs used to measure a financial asset or liability cross different levels of the hierarchy, categorization is based on the lowest-level input that is significant to the fair-value measurement. Management’s assessment of the significance of a particular input to the overall fair-value measurement of a financial asset or liability requires judgment, and considers factors specific to that asset or liability. The three levels of the valuation hierarchy are described below.
Level 1. Financial assets and liabilities with values based on unadjusted quoted prices for identical assets or liabilities in an active market. Our level 1 financial assets and liabilities primarily include positions in U.S. government securities and highly liquid U.S. and non-U.S. government fixed-income securities. Our level 1 financial assets also include actively traded exchange-traded equity securities.
Level 2. Financial assets and liabilities with values based on quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. Level 2 inputs include the following:
▪Quoted prices for similar assets or liabilities in active markets;
▪Quoted prices for identical or similar assets or liabilities in non-active markets;
▪Pricing models whose inputs are observable for substantially the full term of the asset or liability; and
▪Pricing models whose inputs are derived principally from, or corroborated by, observable market information through correlation or other means for substantially the full term of the asset or liability.
Our level 2 financial assets and liabilities primarily include non-U.S. debt securities carried in trading account assets and various types of fixed-income AFS investment securities, as well as various types of foreign exchange and interest rate derivative instruments.
Fair value for our AFS investment securities categorized in level 2 is measured primarily using information obtained from independent third parties. This third-party information is subject to review by management as part of a validation process, which includes obtaining an understanding of the underlying assumptions and the level of market participant information used to support those assumptions. In addition, management compares significant assumptions used by third parties to available market information. Such information may include known trades or, to the extent that trading activity is limited, comparisons to market research information pertaining to credit expectations, execution prices and the timing of cash flows and, where information is available, back-testing.
Derivative instruments categorized in level 2 predominantly represent foreign exchange contracts used in our trading activities, for which fair value is measured using discounted cash-flow techniques, with inputs consisting of observable spot and forward points, as well as observable interest rate curves. With respect to derivative instruments, we evaluate the impact on valuation of the credit risk of our counterparties. We consider factors such as the likelihood of default by our counterparties, our current and potential future net exposures and remaining maturities in determining the fair value. Valuation adjustments associated with derivative instruments were not material to those instruments for the years ended December 31, 2025 and 2024.
Level 3. Financial assets and liabilities with values based on prices or valuation techniques that require inputs that are both unobservable in the market and significant to the overall measurement of fair value. These inputs reflect management’s judgment about the assumptions that a market participant would use in pricing the financial asset or liability, and are based on the best available information, some of which may be internally developed. The following provides a more detailed discussion of our financial assets and liabilities that we may categorize in level 3 and the related valuation methodology:
•The fair value of certain foreign exchange contracts, primarily options, is measured using an option-pricing model. Because of a limited number of observable transactions, certain model inputs are not observable, such as implied volatility surface, but are derived from observable market information.
Our level 3 financial assets and liabilities are similar in structure and profile to our level 1 and level 2 financial instruments, but they trade in less liquid markets, and the measurement of their fair value is therefore less observable.
Investment Securities
Investment securities held by us are classified as either trading account assets, AFS, HTM or equity securities held at fair value at the time of purchase and reassessed periodically, based on management’s intent.
Generally, trading assets are debt and equity securities purchased in connection with our trading activities and, as such, are expected to be sold in the near term. Our trading activities typically involve active and frequent buying and selling with the objective of generating profits on short-term movements. AFS investment securities are those securities that we intend to hold for an indefinite period of time. AFS investment securities include securities utilized as part of our asset and liability management activities that may be sold in response to changes in interest rates, prepayment risk, liquidity needs or other factors. HTM securities are debt securities that management has the intent and the ability to hold to maturity.
Trading assets are carried at fair value. Both realized and unrealized gains and losses on trading assets are recorded in other fee revenue in our consolidated statement of income. AFS securities are carried at fair value, with any allowance for credit losses recorded through the consolidated statement of income and after-tax net unrealized gains and losses are recorded in AOCI. Gains or losses realized on sales of AFS investment securities are computed using the specific identification method and are recorded in gains (losses) from sales of available-for-sale securities, net, in our consolidated statement of income. HTM investment securities are carried at cost, adjusted for amortization of premiums and accretion of discounts, with any allowance for credit losses recorded through the consolidated statement of income.
Loans and Allowance for Credit Losses
Loans are generally recorded at their principal amount outstanding, net of the allowance for credit losses, unearned income, and any net unamortized deferred loan origination fees. Loans that are classified as held-for-sale are measured at lower of cost or fair value on an individual basis.
Interest income related to loans is recognized in our consolidated statement of income using the interest method, or on a basis approximating a level rate of return over the term of the loan. Fees received for providing loan commitments and letters of credit that we anticipate will result in loans typically are deferred and amortized to interest income over the term of the related loan, beginning with the initial borrowing. Fees on commitments and letters of credit are amortized to software and processing fees over the commitment period when funding is not known or expected.
Goodwill and Other Intangible Assets
Goodwill represents the excess of the cost of an acquisition over the fair value of the net tangible and other intangible assets acquired. Goodwill is not amortized, but is reviewed for impairment annually or more frequently if circumstances arise or events occur that indicate an impairment of the carrying amount may exist.
Impairment of goodwill is deemed to exist if the carrying value of a reporting unit, including its allocation of goodwill and other intangible assets, exceeds its estimated fair value. Management reviews goodwill for impairment annually or more frequently if circumstances arise or events occur that indicate an impairment of the carrying amount may exist. We begin our review by first assessing qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Events that may indicate impairment include significant or adverse changes in the business, economic or political climate, an adverse action or assessment by a regulator, unanticipated competition, and a more-likely-than-not expectation that we will sell or otherwise dispose of a business to which the goodwill or other intangible assets relate. If we conclude from the qualitative assessment of goodwill impairment that it is more likely than not that a reporting unit’s fair value is greater than its carrying amount, quantitative tests are not required. However, if we determine it is more likely than not that a reporting unit’s fair value is less than its carrying amount, then we complete a quantitative assessment to determine if there is goodwill impairment. We may elect to bypass the qualitative assessment and complete a quantitative assessment in any given period.
In 2025, we assessed goodwill for impairment using a qualitative assessment. Based on our evaluation of the qualitative factors noted above, we determined it was more likely than not that the fair value of each of the reporting units exceeded its respective carrying amount.
Other intangible assets represent purchased long-lived intangible assets, primarily client relationships, that can be distinguished from goodwill because of contractual rights or because the asset can be exchanged on its own or in combination with a related contract, asset or liability. Other intangible assets are initially measured at their acquisition date fair value, the determination of which requires management judgment, are amortized over their estimated useful lives and are subject to evaluation for impairment. Client relationships are amortized on a straight-line basis over periods ranging from five to twenty years, technology assets are amortized on a straight-line basis over periods ranging from three to ten years, and core deposit intangible assets are amortized on a straight-line basis over periods ranging from sixteen to twenty-two years, with such amortization recorded in other expenses in our consolidated statement of income.
Other intangible assets are supported by the future cash flows that are directly associated with and expected to arise as a direct result of the use of the intangible asset, less any costs associated with the intangible asset’s eventual disposition. We evaluate other intangible assets for impairment at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows from other groups of assets using the following process. First, we routinely assess whether impairment indicators are present. When impairment indicators are identified as being present, we compare the estimated future net undiscounted cash flows of the intangible asset with its carrying value. If the future net undiscounted cash flows are greater than the carrying value, then there is no impairment, but if the intangible asset’s net undiscounted cash flows are less than its carrying value, we are required to calculate impairment. An impairment is recognized by writing the intangible asset down to its fair value through a charge to other expenses in our consolidated statement of income. We evaluate intangible assets for indicators of impairment on a quarterly basis.
Derivative Financial Instruments Derivative Financial Instruments
We use derivative financial instruments to support our clients’ needs and to manage our interest rate, currency and other market risks. These financial instruments consist of FX contracts such as forwards, futures and options contracts; interest rate contracts such as interest rate swaps (cross currency and single currency) and futures; and other derivative contracts. Derivative instruments used for risk management purposes that are highly effective in offsetting the risk being hedged are generally designated as hedging instruments in hedge accounting relationships, while others are economic hedges and not designated in hedge accounting relationships. Derivatives in hedge accounting relationships are disclosed according to the type of hedge, such as fair value, cash flow or net investment. Derivatives designated as hedging instruments in hedge accounting relationships are carried at fair value with change in fair value recognized in the consolidated statement of income or other comprehensive income (OCI), as appropriate. Derivatives not designated in hedge accounting relationships include those derivatives entered into to support client needs and derivatives used to manage interest rate, currency and other market risks associated with certain assets and liabilities. Such derivatives are carried at fair value with changes in fair value recognized in the consolidated statement of income.
Derivatives Not Designated as Hedging Instruments
We provide foreign exchange forward contracts and options in support of our client needs, and also act as a dealer in the currency markets. As part of our trading activities, we assume positions in both the foreign exchange and interest rate markets by buying and selling cash instruments and using derivative financial instruments, including foreign exchange forward contracts, foreign exchange and interest rate options, interest rate forward contracts, and interest rate futures. The entire change in the fair value of derivatives utilized in our trading activities are recorded in foreign exchange trading services revenue. We also utilize derivatives in our asset and liability management activities and to manage other market risks. The entire change in fair value of such derivatives are recorded in net interest income and other fee revenue, respectively.
We enter into stable value wrap derivative contracts with unaffiliated stable value funds that allow a stable value fund to provide book value coverage to its participants. These derivatives contracts qualify as guarantees as described in Note 12.
We grant deferred cash awards to certain of our employees as part of our employee incentive compensation plans. We account for these awards as derivative financial instruments, as the underlying referenced shares are not equity instruments of ours. The fair value of these derivatives is referenced to the value of units in State Street-sponsored investment funds or funds sponsored by other unrelated entities. We re-measure these derivatives to fair value quarterly, and record the change in value in compensation and employee benefits expenses in our consolidated statement of income.
Derivatives Designated as Hedging Instruments
In connection with our asset and liability management activities, we use derivative financial instruments to manage our interest rate risk and foreign currency risk for certain assets and liabilities. At both the inception of the hedge and on an ongoing basis, we formally assess and document the effectiveness of a derivative designated in a hedging relationship and the likelihood that the derivative will be an effective hedge in future periods. We discontinue hedge accounting prospectively when we determine that the derivative is no longer highly effective in offsetting changes in fair value or cash flows of the underlying risk being hedged, the derivative expires, terminates or is sold, or management discontinues the hedge designation.
The risk management objective of a highly effective hedging strategy that qualifies for hedge accounting must be formally documented. The hedge documentation includes the derivative hedging instrument, the asset or liability or forecasted transaction, type of risk being hedged and method for assessing hedge effectiveness of the derivative prospectively and retrospectively. We use quantitative methods including regression analysis and cumulative dollar offset method, comparing the change in the fair value of the derivative to the change in fair value or the cash flows of the hedged item. We may also utilize qualitative methods such as matching critical terms and evaluation of any changes in those critical terms. Effectiveness is assessed and documented quarterly and if determined that the derivative is not highly effective at hedging the designated risk hedge accounting is discontinued.
Fair Value Hedges
Derivatives designated as fair value hedges are utilized to mitigate the risk of changes in the fair values of recognized assets and liabilities, including
long-term debt and AFS securities. We use interest rate and FX contracts in this manner to manage our exposure to changes in the fair value of hedged items caused by changes in interest rates and FX rates, respectively.
Changes in the fair value of the derivative and changes in fair value of the hedged item due to changes in the hedged risk are recognized in earnings in the same line item. If a hedge is terminated, but the hedged item was not derecognized, all remaining adjustments to the carrying amount of the hedged item are amortized over a period that is consistent with the amortization of other discounts or premiums associated with the hedged item.
Cash Flow Hedges
Derivatives designated as cash flow hedges are utilized to offset the variability of cash flows of recognized assets, liabilities or forecasted transactions. We have entered into FX contracts to hedge the change in cash flows attributable to FX movements in foreign currency denominated investment securities. Additionally, we have entered into interest rate swap agreements to hedge the forecasted cash flows associated with EURIBOR indexed floating-rate loans and Deposit Facility Interest Rate (DFR) indexed ECB deposits. The interest rate swaps synthetically convert the interest receipts from a variable-rate to a fixed-rate, thereby mitigating the risk attributable to changes in the EURIBOR and DFR.
Changes in fair value of the derivatives designated as cash flow hedges are initially recorded in AOCI and then reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings and are presented in the same income statement line item as the earnings effect of the hedged item. If the hedge relationship is terminated, the change in fair value on the derivative recorded in AOCI is reclassified into earnings consistent with the timing of the hedged item.
Offsetting Arrangements
Certain of our transactions are subject to master netting agreements that allow us to net receivables and payables by contract and settlement type. For those legally enforceable contracts, we net receivables and payables with the same counterparty on our statement of condition.
In addition to netting receivables and payables with our derivatives counterparty where a legal and enforceable netting arrangement exists, we also net related cash collateral received and transferred up to the fair value exposure amount.
With respect to our securities financing arrangements, we net balances outstanding on our consolidated statement of condition for those transactions that met the netting requirements and were transacted under a legally enforceable netting arrangement with the counterparty.
Securities received as collateral under securities financing or derivatives transactions can be transferred as collateral in many instances. The securities received as proceeds under secured lending transactions are recorded at a value that approximates fair value in other assets in our consolidated statement of condition with a related liability to return the collateral, if we have the right to transfer or re-pledge the collateral.
Commitments
In the ordinary course of business, we and our subsidiaries are involved in disputes, litigation, and governmental or regulatory inquiries and investigations, both pending and threatened. These matters, if resolved adversely against us or settled, may result in monetary awards or payments, fines and penalties or require changes in our business practices. The resolution or settlement of these matters is inherently difficult to predict. Based on our assessment of these pending matters, we do not believe that the amount of any judgment, settlement or other action arising from any pending matter is likely to have a material adverse effect on our consolidated financial condition. However, an adverse outcome or development in certain of the matters described below could have a material adverse effect on our consolidated results of operations for the period in which such matter is resolved, or an accrual is determined to be required, on our consolidated financial condition, or on our reputation.
We evaluate our needs for accruals of loss contingencies related to legal and regulatory proceedings on a case-by-case basis. When we have a liability that we deem probable, and we deem the amount of such liability can be reasonably estimated as of the date of our consolidated financial statements, we accrue our estimate of the amount of
loss. We also consider a loss probable and establish an accrual when we make, or intend to make, an offer of settlement. Once established, an accrual is subject to subsequent adjustment as a result of additional information. The resolution of legal and regulatory proceedings and the amount of reasonably estimable loss (or range thereof) are inherently difficult to predict, especially in the early stages of proceedings. Even if a loss is probable, an amount (or range) of loss might not be reasonably estimated until the later stages of the proceeding due to many factors such as the presence of complex or novel legal theories, the discretion of governmental authorities in seeking sanctions or negotiating resolutions in civil and criminal matters, the pace and timing of discovery and other assessments of facts and the procedural posture of the matter (collectively, “factors influencing reasonable estimates”).
As of December 31, 2025, our aggregate accruals for loss contingencies for legal, regulatory and related matters totaled approximately $43 million, including potential fines by government agencies and civil litigation with respect to the matters specifically discussed below. To the extent that we have established accruals in our consolidated statement of condition for probable loss contingencies, such accruals may not be sufficient to cover our ultimate financial exposure associated with any settlements or judgments. Any such ultimate financial exposure, or proceedings to which we may become subject in the future, could have a material adverse effect on our businesses, on our future consolidated financial statements or on our reputation.
Variable Interest Entities
We are involved, in the normal course of our business, with various types of special purpose entities, some of which meet the definition of VIEs. When evaluating a VIE for consolidation, we must determine whether or not we have a variable interest in the entity. Variable interests are investments or other interests that absorb portions of an entity’s expected losses or receive portions of the entity’s expected returns. If it is determined that we do not have a variable interest in the VIE, no further analysis is required and we do not consolidate the VIE. If we hold a variable interest in a VIE, we are required by U.S. GAAP to consolidate that VIE when we have a controlling financial interest in the VIE and therefore are deemed to be the primary beneficiary. We are determined to have a controlling financial interest in a VIE when we have both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to that VIE. This determination is evaluated periodically as facts and circumstances change.
Asset-Backed Investment Securities
We invest in various forms of ABS, which we carry in our investment securities portfolio. These ABS meet the U.S. GAAP definition of asset securitization entities, which are considered to be VIEs. We are not considered to be the primary beneficiary of these VIEs since we do not have control over their activities. Additional information about our ABS is provided in Note 3.
Interests in Investment Funds
In the normal course of business, we manage various types of investment funds through State Street Investment Management in which our clients are investors, including State Street Investment Management commingled investment vehicles and other similar investment structures. The majority of our AUM are contained within such funds. The services we provide to these funds generate management fee revenue. From time to time, we may invest cash in the funds in order for the funds to establish a performance history for newly-launched strategies, referred to as seed capital, or for other purposes.
With respect to our interests in funds that meet the definition of a VIE, a primary beneficiary assessment is performed to determine if we have a controlling financial interest. As part of our assessment, we consider all the facts and circumstances regarding the terms and characteristics of the variable interest(s), the design and characteristics of the fund and the other involvements of the enterprise with the fund. If consolidation of certain funds is required, we retain the specialized investment company accounting rules followed by the underlying funds. When we no longer control these funds due to a reduced ownership interest or other reasons, the funds are de-consolidated and accounted for under another accounting method if we continue to maintain investments in the funds.
Equity-Based Compensation
We record compensation expense for equity-based awards, such as deferred stock and performance awards, based on the closing price of our common stock on the date of grant, adjusted if appropriate, based on the eligibility of the award to receive dividends.
Compensation expense related to equity-based and cash-settled stock awards with service-only conditions and terms that provide for a graded vesting schedule is recognized on a straight-line basis over the required service period for the entire award. Compensation expense related to equity-based awards with performance conditions and terms that provide for a graded vesting schedule is recognized over the requisite service period for each separately vesting tranche of the award, and is based on the probable outcome of the performance conditions at each reporting date. Compensation expense is adjusted for assumptions with respect to the estimated amount of awards that will be forfeited prior to vesting, and for employees who have met certain retirement eligibility criteria. Compensation expense for common stock awards granted to employees meeting early retirement eligibility criteria is fully expensed on the grant date.
Dividend equivalents for certain equity-based awards are paid on stock units on a current basis prior to vesting and distribution.
Income Taxes
We use an asset-and-liability approach to account for income taxes. Our objective is to recognize the amount of taxes payable or refundable for the current year through charges or credits to the current tax provision, and to recognize deferred tax assets and liabilities for future tax consequences of temporary differences between amounts reported in our consolidated financial statements and their respective tax bases. The measurement of tax assets and liabilities is based on enacted tax laws and applicable tax rates. The effects of a tax position on our consolidated financial statements are recognized when we believe it is more likely than not that the position will be sustained. A valuation allowance is established if it is considered more likely than not that all or a portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities recorded in our consolidated statement of condition are netted within the same tax jurisdiction.
Earnings Per Common Share
Basic EPS is calculated pursuant to the two-class method, by dividing net income available to common shareholders by the weighted-average common shares outstanding during the period. Diluted EPS is calculated pursuant to the two-class method, by dividing net income available to common shareholders by the total weighted-average number of common shares outstanding for the period plus the shares representing the dilutive effect of equity-based awards. The effect of equity-based awards is excluded from the calculation of diluted EPS in periods in which their effect would be anti-dilutive.
The two-class method requires the allocation of undistributed net income between common and participating shareholders. Net income available to common shareholders, presented separately in our consolidated statement of income, is the basis for the calculation of both basic and diluted EPS. Participating securities are composed of unvested and fully vested SERP shares and fully vested deferred director stock awards, which are equity-based awards that contain non-forfeitable rights to dividends, and are considered to participate with the common stock in undistributed earnings.
v3.25.4
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Other Significant Accounting Policies
The following table identifies our other significant accounting policies and the note and page where a detailed description of each policy can be found:
Fair ValueNote2Page
Investment SecuritiesNote3Page
Loans and Allowance for Credit LossesNote4Page
Goodwill and Other Intangible AssetsNote5Page
Derivative Financial InstrumentsNote10Page
Offsetting ArrangementsNote11Page
ContingenciesNote13Page
Variable Interest EntitiesNote14Page
Equity-Based CompensationNote18Page
Income TaxesNote22Page
Earnings Per Common ShareNote23Page
Revenue from Contracts with CustomersNote25Page
New Accounting Standards Issued But Not Yet Adopted
Standard
Description
Effective DateEffects on the financial statements or other significant matters
ASU 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements
The amendments introduce targeted improvements to closely align hedge accounting with an entity’s risk management activities. The ASU expands the hedged risks permitted to be aggregated in a group of individual forecasted transactions in a cash flow hedge, introduces a new model for hedging forecasted interest payments on choose your rate debt instruments, and expands eligibility for certain hedged risks (nonfinancial forecasted transactions, net written options as hedging instruments and foreign currency dual hedge strategy).
Annual reporting for the period ending December 31, 2027 and for interim reporting in 2027. Early adoption is permitted.
We are currently evaluating the impact of this guidance.
ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software
The update removes all references to prescriptive and sequential software development stages, and amends related disclosures. Capitalization of software costs will commence when both i) management has authorized and committed to funding the software project, and ii) it is probable that the project will be completed and the software will be used to perform the function intended (referred to as the “probable-to-complete recognition threshold”).
Annual and interim reporting periods beginning after December 15, 2027. Early adoption is permitted.
We are currently evaluating the impact of this guidance.
ASU 2024-03, Income Statement (Subtopic 220-40): Reporting Comprehensive Income - Expense Disaggregation DisclosuresThe amendments require disclosure of information about certain costs and expenses in both interim and annual reporting periods. Specified information includes expense amounts relating to purchases of inventory, employee compensation, depreciation, intangible asset amortization, and selling expenses with the definition thereof.Annual reporting for the period ending December 31, 2027 and for interim reporting in 2028. Early adoption is permitted.We are currently evaluating the disclosure impact of the new standard.
v3.25.4
Fair Value (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables present information with respect to our financial assets and liabilities carried at fair value in our consolidated statement of condition on a recurring basis as of the dates indicated:
Fair Value Measurements on a Recurring Basis
As of December 31, 2025
(In millions)Quoted Market
Prices in Active
Markets
(Level 1)		Pricing Methods
with Significant
Observable
Market Inputs
(Level 2)		Pricing Methods
with Significant
Unobservable
Market Inputs
(Level 3)
Impact of Netting(1)
Total Net
Carrying Value
in Consolidated
Statement of
Condition
Assets:
Trading account assets:
U.S. government securities$55 $— $— $55 
Non-U.S. government securities— 124 — 124 
Other— 648 — 648 
Total trading account assets55 772 — 827 
Available-for-sale investment securities:
U.S. Treasury and federal agencies:
Direct obligations23,260 — — 23,260 
Mortgage-backed securities— 15,586 — 15,586 
Total U.S. Treasury and federal agencies23,260 15,586 — 38,846 
Non-U.S. debt securities:
Mortgage-backed securities— 2,578 — 2,578 
Asset-backed securities— 2,085 — 2,085 
Non-U.S. sovereign, supranational and non-U.S. agency— 17,731 — 17,731 
Other— 2,826 — 2,826 
Total non-U.S. debt securities— 25,220 — 25,220 
Asset-backed securities:
Student loans— 64 — 64 
Collateralized loan obligations— 2,905 — 2,905 
Non-agency CMBS and RMBS(2)
— 3 — 3 
Other— 91 — 91 
Total asset-backed securities— 3,063 — 3,063 
State and political subdivisions— 25 — 25 
Other U.S. debt securities— — — — 
Total available-for-sale investment securities$23,260 $43,894 $— $67,154 
Other assets:
Derivative instruments:
Foreign exchange contracts$5 $14,218 $1 $(10,073)$4,151 
Interest rate contracts3 31 — (31)3 
Other derivative contracts1 — — — 1 
Total derivative instruments9 14,249 1 (10,104)4,155 
Other22 832 — — 854 
Total assets carried at fair value$23,346 $59,747 $1 $(10,104)$72,990 
Liabilities:
Accrued expenses and other liabilities:
Derivative instruments:
Foreign exchange contracts$— $14,097 $— $(9,231)$4,866 
Interest rate contracts— 5 — (5)— 
Other derivative contracts— 159 — — 159 
Total derivative instruments— 14,261 — (9,236)5,025 
Total liabilities carried at fair value$— $14,261 $— $(9,236)$5,025 
(1) Represents counterparty netting against level 2 financial assets and liabilities where a legally enforceable master netting agreement exists between us and the counterparty. Netting also reflects asset and liability reductions of $2.48 billion and $1.61 billion, respectively, for cash collateral received from and provided to derivative counterparties.
(2) Consists entirely of non-agency CMBS.
Fair Value Measurements on a Recurring Basis
As of December 31, 2024
(In millions)Quoted Market
Prices in Active
Markets
(Level 1)		Pricing Methods
with Significant
Observable
Market Inputs
(Level 2)		Pricing Methods
with Significant
Unobservable
Market Inputs
(Level 3)
Impact of Netting(1)
Total Net
Carrying Value
in Consolidated
Statement of
Condition
Assets:
Trading account assets:
U.S. government securities$34 $— $— $34 
Non-U.S. government securities— 121 — 121 
Other— 613 — 613 
Total trading account assets34 734 — 768 
Available-for-sale investment securities:
U.S. Treasury and federal agencies:
Direct obligations23,525 — — 23,525 
Mortgage-backed securities— 10,566 — 10,566 
Total U.S. Treasury and federal agencies23,525 10,566 — 34,091 
Non-U.S. debt securities:
Mortgage-backed securities— 2,430 — 2,430 
Asset-backed securities— 1,868 — 1,868 
Non-U.S. sovereign, supranational and non-U.S. agency— 13,939 — 13,939 
Other— 2,821 — 2,821 
Total non-U.S. debt securities— 21,058 — 21,058 
Asset-backed securities:
Student loans— 90 — 90 
Collateralized loan obligations— 3,453 — 3,453 
Non-agency CMBS and RMBS(2)
— 4 — 4 
Other— 91 — 91 
Total asset-backed securities— 3,638 — 3,638 
State and political subdivisions— 56 — 56 
Other U.S. debt securities— 52 — 52 
Total available-for-sale investment securities$23,525 $35,370 $— $58,895 
Other assets:
Derivative instruments:
Foreign exchange contracts$16 $29,422 $1 $(18,262)$11,177 
Interest rate contracts5 23 — (23)5 
Other derivative contracts1 — — — 1 
Total derivative instruments22 29,445 1 (18,285)11,183 
Other20 747 — — 767 
Total assets carried at fair value$23,601 $66,296 $1 $(18,285)$71,613 
Liabilities:
Accrued expenses and other liabilities:
Trading account liabilities:
Derivative instruments:
Foreign exchange contracts$— $28,904 $— $(22,527)$6,377 
Interest rate contracts— 1 — (1)— 
Other derivative contracts— 219 — — 219 
Total derivative instruments— 29,124 — (22,528)6,596 
Total liabilities carried at fair value$— $29,124 $— $(22,528)$6,596 
(1) Represents counterparty netting against level 2 financial assets and liabilities where a legally enforceable master netting agreement exists between us and the counterparty. Netting also reflects asset and liability reductions of $1.86 billion and $6.10 billion, respectively, for cash collateral received from and provided to derivative counterparties.
(2) Consists entirely of non-agency CMBS.
Carrying Value and Estimated Fair Value of Financial Instruments by Fair Value Hierarchy
The following tables present the reported amounts and estimated fair values of the financial assets and liabilities not carried at fair value, as they would be categorized within the fair value hierarchy, as of the dates indicated:
 
Fair Value Hierarchy
(In millions)
Carrying Value
Estimated Fair Value
Quoted Market Prices in Active Markets (Level 1)
Pricing Methods with Significant Observable Market Inputs (Level 2) 
Pricing Methods with Significant Unobservable Market Inputs (Level 3)
December 31, 2025
Financial Assets:    
Cash and due from banks$4,433 $4,433 $4,433 $— $— 
Interest-bearing deposits with banks126,930 126,930 — 126,930 — 
Securities purchased under resale agreements6,812 6,812 — 6,812 — 
Investment securities held-to-maturity38,171 34,166 563 33,603 — 
Net loans(1)
46,589 46,417 — 44,862 1,555 
Other(2)
15,490 15,490 — 15,490 — 
Financial Liabilities:
Deposits:
   Non-interest-bearing$35,267 $35,267 $— $35,267 $— 
   Interest-bearing - U.S.168,079 168,079 — 168,079 — 
   Interest-bearing - non-U.S.71,004 71,004 — 71,004 — 
Securities sold under repurchase agreements841 841 — 841 — 
Other short-term borrowings3,821 3,821 — 3,821 — 
Long-term debt25,143 25,253 — 25,130 123 
Other(2)
15,490 15,490 — 15,490 — 
(1) Includes $92 million of loans classified as held-for-sale that were measured at fair value in level 2 as of December 31, 2025.
(2) Represents a portion of underlying client assets related to our prime services business, which clients have allowed us to transfer and re-pledge.
Fair Value Hierarchy
(In millions)
Carrying Value
Estimated Fair Value
Quoted Market Prices in Active Markets (Level 1)
Pricing Methods with Significant Observable Market Inputs (Level 2) 
Pricing Methods with Significant Unobservable Market Inputs (Level 3)
December 31, 2024
Financial Assets:
Cash and due from banks$3,145 $3,145 $3,145 $— $— 
Interest-bearing deposits with banks112,957 112,957 — 112,957 — 
Securities purchased under resale agreements6,679 6,679 — 6,679 — 
Investment securities held-to-maturity47,727 41,906 5,354 36,552 — 
Net loans(1)
43,026 42,839 — 41,097 1,742 
Other(2)
6,752 6,752 — 6,752 — 
Financial Liabilities:
Deposits:
   Non-interest-bearing$33,180 $33,180 $— $33,180 $— 
   Interest-bearing - U.S.166,483 166,483 — 166,483 — 
   Interest-bearing - non-U.S.62,257 62,257 — 62,257 — 
Securities sold under repurchase agreements3,681 3,681 — 3,681 — 
Other short-term borrowings9,840 9,840 — 9,840 — 
Long-term debt23,272 23,078 — 22,882 196 
Other(2)
6,752 6,752 — 6,752 — 
(1) Includes $14 million of loans classified as held-for-sale that were measured at fair value in level 2 as of December 31, 2024.
(2) Represents a portion of underlying client assets related to our prime services business, which clients have allowed us to transfer and re-pledge.
v3.25.4
Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Marketable Securities
The following table presents the amortized cost, fair value and associated unrealized gains and losses of AFS and HTM investment securities as of the dates indicated:
 December 31, 2025December 31, 2024
 Amortized
Cost		Gross
Unrealized		Fair
Value		Amortized
Cost		Gross
Unrealized		Fair
Value
(In millions)GainsLossesGainsLosses
Available-for-sale:
U.S. Treasury and federal agencies:
Direct obligations$23,210 $55 $5 $23,260 $23,539 $38 $52 $23,525 
Mortgage-backed securities(1)
15,550 90 54 15,586 10,699 21 154 10,566 
Total U.S. Treasury and federal agencies38,760 145 59 38,846 34,238 59 206 34,091 
Non-U.S. debt securities:
Mortgage-backed securities2,573 6 1 2,578 2,426 5 1 2,430 
Asset-backed securities(2)
2,081 5 1 2,085 1,865 5 2 1,868 
Non-U.S. sovereign, supranational and non-U.S. agency17,693 73 35 17,731 13,954 54 69 13,939 
Other(3)
2,784 42 — 2,826 2,787 38 4 2,821 
Total non-U.S. debt securities25,131 126 37 25,220 21,032 102 76 21,058 
Asset-backed securities:
Student loans(4)
63 1 — 64 89 1 — 90 
Collateralized loan obligations(5)
2,904 2 1 2,905 3,447 6 — 3,453 
Non-agency CMBS and RMBS(6)
— 3 — 3 1 3 — 4 
Other90 1 — 91 90 1 — 91 
Total asset-backed securities3,057 7 1 3,063 3,627 11 — 3,638 
State and political subdivisions25 — — 25 56 — — 56 
Other U.S. debt securities
— — — — 53 — 1 52 
Total available-for-sale securities(7)(8)
$66,973 $278 $97 $67,154 $59,006 $172 $283 $58,895 
Held-to-maturity:
U.S. Treasury and federal agencies:
Direct obligations$573 $— $3 $570 $5,417 $— $55 $5,362 
Mortgage-backed securities(9)
32,876 9 3,965 28,920 36,101 2 5,677 30,426 
Total U.S. Treasury and federal agencies33,449 9 3,968 29,490 41,518 2 5,732 35,788 
Non-U.S. debt securities:
Non-U.S. sovereign, supranational and non-U.S. agency2,461 4 31 2,434 3,673 7 73 3,607 
Total non-U.S. debt securities2,461 4 31 2,434 3,673 7 73 3,607 
Asset-backed securities:
Student loans(4)
2,261 5 24 2,242 2,536 4 29 2,511 
Total asset-backed securities2,261 5 24 2,242 2,536 4 29 2,511 
Total held-to-maturity securities(7)(10)
$38,171 $18 $4,023 $34,166 $47,727 $13 $5,834 $41,906 
(1) As of December 31, 2025 and 2024, the total fair value included $2.81 billion and $4.36 billion, respectively, of agency CMBS and $12.78 billion and $6.20 billion, respectively, of agency MBS.
(2) As of December 31, 2025 and 2024, the fair value includes non-U.S. collateralized loan obligations of $0.77 billion and $0.70 billion, respectively.
(3) As of December 31, 2025 and 2024, the fair value includes non-U.S. corporate bonds of $2.40 billion and $2.54 billion, respectively.
(4) Primarily comprises securities guaranteed by the federal government with respect to at least 97% of defaulted principal and accrued interest on the underlying loans.
(5) Excludes CLO loans. Refer to Note 4 for additional information.
(6) Consists entirely of non-agency RMBS as of both December 31, 2025 and 2024.
(7) An immaterial amount of accrued interest related to HTM and AFS investment securities was excluded from the amortized cost basis for the periods ended December 31, 2025 and 2024.
(8) As of December 31, 2025 and 2024, we had no allowance for credit losses on AFS investment securities.
(9) As of December 31, 2025 and 2024, the total amortized cost included $5.08 billion and $5.18 billion of agency CMBS, respectively.
(10) As of both December 31, 2025 and 2024, the allowance for credit losses on HTM investment securities was less than $1 million.
Schedule of Gross Pre-tax Unrealized Losses on Investment Securities
The following tables present the aggregate fair values of AFS investment securities that have been in a continuous unrealized loss position for less than 12 months, and those that have been in a continuous unrealized loss position for 12 months or longer, as of the dates indicated:
As of December 31, 2025
Less than 12 months12 months or longerTotal
(In millions)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Available-for-sale:
U.S. Treasury and federal agencies:
Direct obligations$756 $2 $2,063 $3 $2,819 $5 
Mortgage-backed securities1,267 3 4,018 51 5,285 54 
Total U.S. Treasury and federal agencies2,023 5 6,081 54 8,104 59 
Non-U.S. debt securities:
Mortgage-backed securities617 1 73 — 690 1 
Asset-backed securities425 — 168 1 593 1 
Non-U.S. sovereign, supranational and non-U.S. agency3,871 28 1,943 7 5,814 35 
Other129 — — — 129 — 
Total non-U.S. debt securities5,042 29 2,184 8 7,226 37 
Asset-backed securities:
Collateralized loan obligations1,068 1 — — 1,068 1 
Total asset-backed securities1,068 1 — — 1,068 1 
Total$8,133 $35 $8,265 $62 $16,398 $97 

As of December 31, 2024
Less than 12 months12 months or longerTotal
(In millions)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Available-for-sale:
U.S. Treasury and federal agencies:
Direct obligations$8,113 $25 $2,435 $27 $10,548 $52 
Mortgage-backed securities3,742 59 4,360 95 8,102 154 
Total U.S. Treasury and federal agencies11,855 84 6,795 122 18,650 206 
Non-U.S. debt securities:
Mortgage-backed securities730 1 225 — 955 1 
Asset-backed securities387 — 506 2 893 2 
Non-U.S. sovereign, supranational and non-U.S. agency4,695 49 2,695 20 7,390 69 
Other312 2 116 2 428 4 
Total non-U.S. debt securities6,124 52 3,542 24 9,666 76 
Asset-backed securities:
Student loans12 — — — 12 — 
Collateralized loan obligations684 — — — 684 — 
Non-agency CMBS and RMBS— — — — — — 
Total asset-backed securities696 — — — 696 — 
State and political subdivisions— — 26 — 26 — 
Other U.S. debt securities3 — 49 1 52 1 
Total$18,678 $136 $10,412 $147 $29,090 $283 
Investments Classified by Contractual Maturity Date
The following table presents the amortized cost and the fair value of contractual maturities of debt investment securities as of December 31, 2025. The maturities of certain ABS, MBS and collateralized mortgage obligations are based on expected principal payments. Actual maturities may differ from these expected maturities since certain borrowers have the right to prepay obligations with or without prepayment penalties.
As of December 31, 2025
(In millions)Under 1 Year1 to 5 Years6 to 10 YearsOver 10 YearsTotal
Amortized Cost
Fair Value
Amortized Cost
Fair Value
Amortized Cost
Fair Value
Amortized Cost
Fair Value
Amortized Cost
Fair Value
Available-for-sale:
U.S. Treasury and federal agencies:
Direct obligations$6,153 $6,161 $17,056 $17,098 $1 $1 $— $— $23,210 $23,260 
Mortgage-backed securities81 80 1,639 1,638 1,092 1,083 12,738 12,785 15,550 15,586 
Total U.S. Treasury and federal agencies6,234 6,241 18,695 18,736 1,093 1,084 12,738 12,785 38,760 38,846 
Non-U.S. debt securities:
Mortgage-backed securities179 180 485 485 — — 1,909 1,913 2,573 2,578 
Asset-backed securities56 56 329 330 929 932 767 767 2,081 2,085 
Non-U.S. sovereign, supranational and
non-U.S. agency		4,423 4,432 12,457 12,486 813 813 — — 17,693 17,731 
Other796 800 1,958 1,996 30 30 — — 2,784 2,826 
Total non-U.S. debt securities5,454 5,468 15,229 15,297 1,772 1,775 2,676 2,680 25,131 25,220 
Asset-backed securities:
Student loans6 6 — — 9 10 48 48 63 64 
Collateralized loan obligations156 156 16 16 1,341 1,341 1,391 1,392 2,904 2,905 
Non-agency CMBS and RMBS— — — — — 3 — — — 3 
Other— — 90 91 — — — — 90 91 
Total asset-backed securities162 162 106 107 1,350 1,354 1,439 1,440 3,057 3,063 
State and political subdivisions25 25 — — — — — — 25 25 
Total$11,875 $11,896 $34,030 $34,140 $4,215 $4,213 $16,853 $16,905 $66,973 $67,154 
Held-to-maturity:
U.S. Treasury and federal agencies:
Direct obligations$463 $461 $103 $102 $— $— $7 $7 $573 $570 
Mortgage-backed securities234 220 3,924 3,578 868 790 27,850 24,332 32,876 28,920 
Total U.S. Treasury and federal agencies697 681 4,027 3,680 868 790 27,857 24,339 33,449 29,490 
Non-U.S. debt securities:
Non-U.S. sovereign, supranational and
non-U.S. agency		1,108 1,102 1,259 1,240 94 92 — — 2,461 2,434 
Total non-U.S. debt securities1,108 1,102 1,259 1,240 94 92 — — 2,461 2,434 
Asset-backed securities:
Student loans127 125 424 423 413 414 1,297 1,280 2,261 2,242 
Total asset-backed securities127 125 424 423 413 414 1,297 1,280 2,261 2,242 
Total$1,932 $1,908 $5,710 $5,343 $1,375 $1,296 $29,154 $25,619 $38,171 $34,166 
v3.25.4
Loans and Allowance for Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Net Loans
The following table presents our recorded investment in loans, as of the dates indicated:
(In millions)December 31, 2025December 31, 2024
Subscription finance$13,138 $11,544 
Fund finance(1)
10,916 10,244 
Collateralized loan obligations(2)
12,809 9,488 
Commercial2,851 3,881 
Commercial real estate2,471 2,842 
Overdrafts1,962 1,980 
Other(3)
2,635 3,221 
Total loans(4)(5)
46,782 43,200 
Allowance for credit losses(193)(174)
Loans, net of allowance for credit losses
$46,589 $43,026 
(1) Fund finance loans primarily include loans to real money funds and business development companies of $8.30 billion and $1.75 billion, respectively, as of December 31, 2025, compared to $7.90 billion and $1.44 billion, respectively, as of December 31, 2024.
(2) Collateralized loan obligations include broadly syndicated and middle market CLO loans of $10.30 billion and $2.51 billion, respectively, as of December 31, 2025, compared to $8.39 billion and $1.10 billion, respectively, as of December 31, 2024.
(3) Includes securities finance loans and loans to municipalities of $2.52 billion and $0.12 billion, respectively, as of December 31, 2025 and $3.01 billion and $0.21 billion, respectively, as of December 31, 2024.
(4) Excluding overdrafts, floating rate loans and fixed rate loans totaled $42.37 billion and $2.45 billion, respectively, as of December 31, 2025. We have entered into interest rate swap agreements to hedge forecasted cash flows associated with EURIBOR indexed floating-rate loans. See Note 10 for additional details.
(5) Non-U.S. loans totaled $18.78 billion and $16.79 billion as of December 31, 2025 and 2024, respectively.
Recorded Investment in Each Class of Total Loans and Leases by Credit Quality Indicator
The following tables present our recorded investment in loans to counterparties by risk rating, as noted above, as of the dates indicated:
December 31, 2025Commercial and FinancialCommercial Real EstateTotal Loans
(In millions)
Investment grade$40,854 $1,402 $42,256 
Sub-investment grade
3,157 641 3,798 
Special mention110 132 242 
Substandard48 165 213 
Doubtful50 131 181 
Total(1)(2)
$44,219 $2,471 $46,690 
December 31, 2024Commercial and FinancialCommercial Real EstateTotal Loans 
(In millions)
Investment grade$35,831 $1,969 $37,800 
Sub-investment grade
4,278 409 4,687 
Special mention187 62 249 
Substandard48 211 259 
Doubtful— 191 191 
Total(1)(2)
$40,344 $2,842 $43,186 
(1) Loans include $1.96 billion and $1.98 billion of overdrafts as of December 31, 2025 and 2024, respectively. Overdrafts are short-term in nature and do not present a significant credit risk to us. As of December 31, 2025, $1.90 billion overdrafts were investment grade and $0.06 billion overdrafts were sub-investment grade.
(2) Total does not include $92 million and $14 million of loans classified as held-for-sale as of December 31, 2025 and 2024, respectively.
The following table presents the amortized cost basis, by year of origination and credit quality indicator as of December 31, 2025. For origination years before the fifth annual period, we present the aggregate amortized cost basis of loans. For purchased loans, the date of issuance is used to determine the year of origination, not the date of acquisition. For modified, extended or renewed lending arrangements, we evaluate whether a credit event has occurred which would consider the loan to be a new arrangement.
(In millions)20252024202320222021PriorRevolving Loans
Total(1)
Commercial and financial:
Risk Rating:
Investment grade$8,896 $4,153 $692 $504 $1,313 $119 $25,177 $40,854 
Sub-investment grade
911 1,224 109 46 133 111 623 3,157 
Special mention3 100 — — — 7 — 110 
Substandard— 48 — — — — — 48 
Doubtful— — 10 — 40 — — 50 
Total commercial and financing$9,810 $5,525 $811 $550 $1,486 $237 $25,800 $44,219 
Commercial real estate:
Risk Rating:
Investment grade$— $41 $166 $328 $318 $549 $— $1,402 
Sub-investment grade
— — 47 — 31 563 — 641 
Special mention66 — — 20 — 46 — 132 
Substandard— — — — — 165 — 165 
Doubtful— — — — — 131 — 131 
Total commercial real estate$66 $41 $213 $348 $349 $1,454 $— $2,471 
Total loans(2)
$9,876 $5,566 $1,024 $898 $1,835 $1,691 $25,800 $46,690 
(1) Any reserve associated with accrued interest is not material. As of December 31, 2025, accrued interest receivable of $338 million included in the amortized cost basis of loans has been excluded from the amortized cost basis within this table.
(2) Total does not include $92 million of loans classified as held-for-sale as of December 31, 2025.
The following table presents the amortized cost basis, by year of origination and credit quality indicator as of December 31, 2024:
(In millions)20242023202220212020PriorRevolving Loans
Total(1)
Commercial and financial:
Risk Rating:
Investment grade$6,189 $2,019 $1,241 $2,234 $6 $197 $23,945 $35,831 
Sub-investment grade
2,441 347 198 633 99 198 362 4,278 
Special mention47 45 26 69 — — — 187 
Substandard— — 12 36 — — — 48 
Total commercial and financing$8,677 $2,411 $1,477 $2,972 $105 $395 $24,307 $40,344 
Commercial real estate:
Risk Rating:
Investment grade$41 $63 $488 $278 $128 $971 $— $1,969 
Sub-investment grade
— 153 20 69 100 67 — 409 
Special mention— — — — — 62 — 62 
Substandard— — — — — 211 — 211 
Doubtful— — — — — 191 — 191 
Total commercial real estate$41 $216 $508 $347 $228 $1,502 $— $2,842 
Total loans(2)
$8,718 $2,627 $1,985 $3,319 $333 $1,897 $24,307 $43,186 
(1) Any reserve associated with accrued interest is not material. As of December 31, 2024, accrued interest receivable of $327 million included in the amortized cost basis of loans has been excluded from the amortized cost basis within this table.
(2) Total does not include $14 million of loans classified as held-for-sale as of December 31, 2024.
Schedule of Activity in the Allowance for Loan Losses
The following tables present the activity in the allowance for credit losses by portfolio and class for the years ended December 31, 2025 and 2024:
Year End December 31, 2025
Commercial and Financial
(In millions)
Commercial Loans
Other Loans(1)
Commercial Real EstateOff-Balance Sheet CommitmentsAll Other Total
Allowance for credit losses:
Beginning balance$68 $4 $102 $9 $— $183 
Provision16 1 41 (1)2 59 
Charge-offs(2)
(15)— (24)— — (39)
Ending balance$69 $5 $119 $8 $2 $203 
(1) Primarily includes $2 million allowance for credit losses on both subscription finance and fund finance loans.
(2) Primarily related to a commercial real estate loan and certain commercial loans in 2025.
Year Ended December 31, 2024
Commercial and Financial
(In millions)
Commercial Loans
Other Loans(1)
Commercial Real EstateHeld-to-Maturity SecuritiesOff-Balance Sheet CommitmentsTotal
Allowance for credit losses:
Beginning balance$72 $3 $60 $1 $14 $150 
Provision13 1 67 (1)(5)75 
Charge-offs(2)
(17)— (25)— — (42)
Ending balance$68 $4 $102 $— $9 $183 
(1) Primarily includes $2 million allowance for credit losses on fund finance loans and $1 million related to subscription finance.
(2) Related to the sale of commercial real estate and commercial loans in 2024.
v3.25.4
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in the Carrying Amount of Goodwill
The following table presents changes in the carrying amount of goodwill during the periods indicated for each of our goodwill reporting units:
(In millions)Investment
Servicing		Investment
Management		Total
Goodwill:
Ending balance December 31, 2023
$7,346 $265 $7,611 
Acquisitions(1)
189 — 189 
Foreign currency translation(107)(2)(109)
Ending balance December 31, 2024
7,428 263 7,691 
Acquisitions
243 — 243 
Foreign currency translation220 5 225 
Ending balance December 31, 2025
$7,891 $268 $8,159 
(1) Investment Servicing includes the impact of the consolidation of one of our joint ventures in India.
Schedule of Finite-Lived Intangible Assets
The following table presents changes in the net carrying amount of other intangible assets during the periods indicated:
(In millions)Investment
Servicing		Investment
Management		Total
Other intangible assets:
Ending balance December 31, 2023$1,293 $27 $1,320 
Acquisitions7 13 20 
Amortization(216)(14)(230)
Foreign currency translation(21)— (21)
Ending balance December 31, 20241,063 26 1,089 
Acquisitions34 — 34 
Amortization(216)(7)(223)
Foreign currency translation35 — 35 
Ending balance December 31, 2025$916 $19 $935 
    
The following tables present the gross carrying amount, accumulated amortization and net carrying amount of other intangible assets by type as of the dates indicated:
December 31, 2025Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
(In millions)
Other intangible assets:
Client relationships$2,831 $(2,144)$687 
Technology405 (293)112 
Core deposits703 (597)106 
Other121 (91)30 
Total$4,060 $(3,125)$935 
December 31, 2024Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
(In millions)
Other intangible assets:
Client relationships$2,706 $(1,919)$787 
Technology401 (252)149 
Core deposits677 (540)137 
Other95 (79)16 
Total$3,879 $(2,790)$1,089 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
Expected future amortization expense for other intangible assets recorded as of December 31, 2025 is as follows:
(In millions)Future Amortization
Years Ended December 31,
2026$222 
2027185 
2028132 
202968 
2030
56 
v3.25.4
Other Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Other Assets [Abstract]  
Components of Other Assets
The following table presents the components of other assets as of the dates indicated:
(In millions)December 31, 2025December 31, 2024
Securities borrowed(1)
$38,233 $37,451 
Derivative instruments, net4,155 11,183 
Bank-owned life insurance3,965 3,856 
Investments in joint ventures and other unconsolidated entities(2)
3,753 3,317 
Collateral, net1,603 3,216 
Right-of-use assets865 818 
Prepaid expenses837 738 
Deferred tax assets, net of valuation allowance(3)
627 701 
Accounts receivable621 504 
Income taxes receivable256 144 
Receivable for securities settlement102 57 
Other(4)
3,451 2,529 
Total$58,468 $64,514 
(1) Refer to Note 11, for further information on the impact of collateral on our financial statement presentation of securities borrowing and securities lending transactions.
(2) Includes equity securities without readily determinable fair values that are accounted for under the ASC 321 measurement alternative of $585 million and $341 million as of December 31, 2025 and 2024, respectively. For the year ended December 31, 2025, no impairments were recognized in other fee revenue related to such equity securities.
(3) Deferred tax assets and liabilities recorded in our consolidated statement of condition are netted within the same tax jurisdiction.
(4) Includes advances of $1.57 billion and capitalized costs to fulfill contracts with customers of $1.19 billion as of December 31, 2025, compared to $1.04 billion and $0.92 billion, respectively, as of December 31, 2024.
v3.25.4
Short-Term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Short-term Debt
The following tables present information with respect to the amounts outstanding and weighted-average interest rates of the primary components of our short-term borrowings as of and for the years ended December 31:
(Dollars in millions)Securities Sold Under
Repurchase Agreements
Other(1)
2025202420252024
Balance as of December 31$841 $3,681 $3,750 $9,815 
Average outstanding during the year2,198 3,163 9,396 11,128 
Weighted-average interest rate as of year-end0.73 %5.62 %4.33 %4.77 %
Weighted-average interest rate during the year4.32 4.93 4.62 5.19 
(1) Primarily includes FHLB borrowings.
The following table presents information about these securities and the carrying value of the related repurchase agreements, including accrued interest, as of December 31, 2025.
 Securities Sold
Repurchase Agreements(1)
(In millions)Amortized
Cost		Fair ValueAmortized
Cost
Overnight maturity$1,058 $1,072 $841 
(1) Collateralized by investment securities.
v3.25.4
Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
(Dollars in millions)As of December 31,
Issuance DateMaturity DateCoupon RateSeniorityInterest Due Dates20252024
Parent Company and Non-Banking Subsidiary Issuances
February 28, 2025February 28, 20284.536 %Senior notes
2/28; 8/28
$1,346 $— 
October 22, 2024October 22, 20274.330 %Senior notes
4/22, 10/22(2)
1,208 1,189 
August 3, 2023August 3, 20265.272 %Senior notes
2/3; 8/3(2)
1,204 1,203 
November 21, 2023November 21, 20295.684 %Fixed-to-floating rate senior notes
5/21; 11/21(2)
1,009 986 
August 20, 2024February 20, 20294.530 %Fixed-to-floating rate senior notes
2/20; 8/20(2)
1,007 989 
March 18, 2024March 18, 20274.993 %Senior notes
3/18, 9/18(2)
1,004 993 
April 24, 2025April 24, 20304.834 %Senior notes
4/24; 10/24(2)
1,002 — 
May 18, 2023May 18, 20345.159 %Fixed-to-floating rate senior notes5/18; 11/18996 995 
October 23, 2025October 23, 20364.784 %Fixed-to-floating rate senior notes
4/23; 10/23(2)
973 — 
March 3, 2021
March 3, 2031(1)(3)
2.200 %Senior subordinated notes3/3; 9/3846 845 
October 22, 2024October 22, 20324.675 %Fixed-to-floating rate senior notes
4/22; 10/22(2)
813 789 
January 24, 2020
January 24, 2030(1)
2.400 %Senior notes
1/24, 7/24(2)
777 784 
February 28, 2025February 28, 20365.146 %Fixed-to-floating rate senior notes
2/28; 8/28
746 — 
May 19, 2016
May 19, 2026(1)
2.650 %Senior notes
5/19; 11/19(2)
745 728 
January 26, 2023January 26, 20344.821 %Fixed-to-floating rate senior notes
1/26, 7/26(2)
728 702 
April 24, 2025April 24, 20284.543 %Fixed-to-floating rate senior notes
4/24; 10/24(2)
699 — 
August 4, 2022August 4, 20334.164 %Fixed-to-floating rate senior notes
2/4; 8/4(2)
695 665 
February 28, 2025February 28, 20304.729 %Senior notes
2/28; 8/28
647 — 
February 7, 2022February 7, 20282.203 %Fixed-to-floating rate senior notes
2/7; 8/7(2)
634 619 
December 3, 2018December 3, 20294.141 %Fixed-to-floating rate senior notes
6/3; 12/3(2)
536 535 
November 1, 2019
November 1, 2034(3)
3.031 %Fixed-to-floating rate senior subordinated notes
5/1; 11/1(2)
518 523 
November 21, 2023
November 21, 2034(3)
6.123 %Fixed-to-floating rate senior subordinated notes
5/21; 11/21(2)
507 492 
November 4, 2022November 4, 20285.820 %Fixed-to-floating rate senior notes
5/4; 11/4(2)
503 495 
April 30, 2007June 15, 2047 Floating-rate Junior subordinated debentures3/15; 6/15; 9/15; 12/15500 500 
October 29, 2020March 30, 20313.152 %Fixed-to-floating rate senior notes3/30, 9/30499 498 
May 13, 2022May 13, 20334.421 %Fixed-to-floating rate senior notes5/13; 11/13498 498 
November 18, 2021November 18, 20271.684 %Fixed-to-floating rate senior notes
5/18; 11/18(2)
498 497 
February 7, 2022February 7, 20332.623 %Fixed-to-floating rate senior notes
2/7; 8/7(2)
490 465 
August 3, 2023August 3, 2026 Floating-rate Senior notes2/3; 5/3; 8/3; 11/3300 299 
October 22, 2024October 22, 2027 Floating-rate Senior notes1/22; 4/22; 7/22; 10/22299 299 
April 24, 2025April 24, 2028Floating-rateSenior notes
1/24; 4/24; 7/24; 10/24
299 — 
June 21, 1996
June 15, 2026(1)
7.350 %Senior notes6/15; 12/15150 150 
May 15, 1998May 15, 2028 Floating-rate Junior subordinated debentures2/15; 5/15; 8/15; 11/15100 100 
August 18, 2015
August 18, 2025(1)
3.550 %Senior notes
2/18; 8/18(2)
— 1,285 
May 18, 2023
May 18, 2026(4)
5.104 %Fixed-to-floating rate senior notes5/18; 11/18— 999 
January 26, 2023
January 26, 2026(4)
4.857 %Fixed-to-floating rate senior notes
1/26, 7/26(2)
— 499 
November 4, 2022
November 4, 2026(4)
5.751 %Fixed-to-floating rate senior notes
5/4; 11/4(2)
— 498 
March 30, 2020
March 30, 2026(4)
2.901 %Fixed-to-floating rate senior notes
3/30; 9/30(2)
— 497 
February 7, 2022
February 6, 2026(4)
1.746 %Fixed-to-floating rate senior notes
2/6; 8/6(2)
— 299 
State Street Bank issuances and lease obligations
November 25, 2024
November 25, 2026(1)
4.594 %Senior notes
5/25, 11/25
1,148 1,146 
November 25, 2024
November 23, 2029(1)
4.782 %Senior notes
5/23, 11/23
797 796 
November 25, 2024
November 25, 2026(1)
Floating-rateSenior notes
2/25; 5/25; 8/25; 11/25
300 299 
Long-term finance leases and equipment financing122 116 
Total long-term debt$25,143 $23,272 
(1) We may not redeem notes prior to their maturity.
(2) We have entered into interest rate swap agreements, recorded as fair value hedges, to modify our interest expense on these senior and subordinated notes from a fixed rate to a floating rate. As of December 31, 2025 and 2024, these fair value hedges decreased the carrying value of long-term debt by $3 million and $220 million, respectively. Refer to Note 10 for additional information about fair value hedges.
(3) The subordinated notes qualify for inclusion in tier 2 regulatory capital under current federal regulatory capital guidelines.
(4) We redeemed the notes prior to original maturity date.
v3.25.4
Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
The following table presents the aggregate contractual, or notional, amounts of derivative financial instruments including those entered into for trading and asset and liability management activities as of the dates indicated:
(In millions)December 31, 2025December 31, 2024
Derivatives not designated as hedging instruments:
Interest rate contracts:
Futures$97,035 $47,222 
Foreign exchange contracts:
Forward, swap and spot2,768,458 2,612,945 
Options purchased436 466 
Options written110 145 
Futures472 359 
Other:
Futures159 155 
Stable value contracts(1)
12,271 25,271 
Deferred value awards(2)
222 253 
Derivatives designated as hedging instruments:
Interest rate contracts:
Swap agreements42,708 33,302 
Foreign exchange contracts:
Forward and swap12,350 10,260 
(1) The notional value of the stable value contracts represents our maximum exposure. However, exposure to various stable value contracts is generally contractually limited to substantially lower amounts than the notional values.
(2) Represents grants of deferred value awards to employees; refer to discussion in this note under “Derivatives Not Designated as Hedging Instruments.”
Schedule of Derivative Assets at Fair Value
The following table presents the fair value of derivative financial instruments, excluding the impact of master netting agreements, recorded in our consolidated statement of condition as of the dates indicated. Fair value measurement for derivatives is further discussed in Note 2, and the impact of master netting agreements is provided in Note 11.
Derivative Assets(1)
Derivative Liabilities(2)
(In millions)December 31, 2025December 31, 2024December 31, 2025December 31, 2024
Derivatives not designated as hedging instruments:
Foreign exchange contracts$14,200 $29,116 $13,993 $28,904 
Other derivative contracts1 1 159 219 
Total$14,201 $29,117 $14,152 $29,123 
Derivatives designated as hedging instruments:
Foreign exchange contracts$24 $323 $104 $— 
Interest rate contracts34 28 5 1 
Total$58 $351 $109 $1 
(1) Derivative assets are included within other assets in our consolidated statement of condition.
(2) Derivative liabilities are included within accrued expenses and other liabilities in our consolidated statement of condition.
Schedule of Derivative Liabilities at Fair Value
The following table presents the fair value of derivative financial instruments, excluding the impact of master netting agreements, recorded in our consolidated statement of condition as of the dates indicated. Fair value measurement for derivatives is further discussed in Note 2, and the impact of master netting agreements is provided in Note 11.
Derivative Assets(1)
Derivative Liabilities(2)
(In millions)December 31, 2025December 31, 2024December 31, 2025December 31, 2024
Derivatives not designated as hedging instruments:
Foreign exchange contracts$14,200 $29,116 $13,993 $28,904 
Other derivative contracts1 1 159 219 
Total$14,201 $29,117 $14,152 $29,123 
Derivatives designated as hedging instruments:
Foreign exchange contracts$24 $323 $104 $— 
Interest rate contracts34 28 5 1 
Total$58 $351 $109 $1 
(1) Derivative assets are included within other assets in our consolidated statement of condition.
(2) Derivative liabilities are included within accrued expenses and other liabilities in our consolidated statement of condition.
Impact of Derivative Financial Instruments on Statement of Income
The following table presents the impact of our use of derivative financial instruments on our consolidated statement of income for the periods indicated:
Years Ended December 31,
202520242023
(In millions)Location of Gain (Loss) on
Derivative in Consolidated
Statement of Income		Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income
Derivatives not designated as hedging instruments:
Foreign exchange contractsForeign exchange trading services revenue$1,040 $862 $803 
Foreign exchange contractsInterest expense191 274 (54)
Interest rate contractsForeign exchange trading services revenue(3)21 (2)
Other derivative contracts
Other fee revenue(10)(12)(3)
Other derivative contracts(1)
Compensation and employee benefits(81)(189)(121)
Total$1,137 $956 $623 
(1) Amount in 2024 reflects a deferred compensation expense acceleration of $79 million.
The following tables present the impact of our use of derivative financial instruments on our consolidated statement of income for the periods indicated:
Years Ended December 31,Years Ended December 31,
202520242023202520242023
(In millions)
Location of Gain (Loss) on Derivative in Consolidated Statement of Income
Amount of Gain
(Loss) on Derivative
Recognized in
Consolidated
Statement of Income
Hedged Item in Fair Value Hedging Relationship
Location of Gain (Loss) on Hedged Item in Consolidated Statement of Income
Amount of Gain
(Loss) on Hedged
Item Recognized in
Consolidated
Statement of Income
Derivatives designated as fair value hedges:
Interest rate contractsNet interest income$(424)$(55)$(164)
Available-for-sale securities(1)
Net interest income
$423 $55 $164 
Interest rate contractsNet interest income247 17 202 Long-term debtNet interest income(247)(17)(202)
Foreign exchange contracts
Other fee revenue
(18)21 — 
Available-for-sale securities
Other fee revenue
18 (21)— 
Total$(195)$(17)$38 $194 $17 $(38)
(1) For the year ended December 31, 2025, approximately $362 million of net unrealized losses on AFS investment securities designated in fair value hedges were recognized in OCI compared to approximately $93 million of net unrealized losses in the same period of 2024.
Years Ended December 31,Years Ended December 31,
202520242023Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income202520242023
(In millions)
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
Derivatives designated as cash flow hedges:
Interest rate contracts(1)
$(7)$(6)$14 Net interest income$(136)$(200)$(210)
Foreign exchange contracts— 59 91 Net interest income— 254 2 
Total derivatives designated as cash flow hedges$(7)$53 $105 $(136)$54 $(208)
Derivatives designated as net investment hedges:
Foreign exchange contracts$(783)$540 $(89)$— $— $— 
Total derivatives designated as net investment hedges(783)540 (89)— — — 
Total$(790)$593 $16 $(136)$54 $(208)
(1) As of December 31, 2025, the maximum maturity date of the underlying hedged items is approximately 5.0 years.
Schedule of Carrying Amount of Hedged Assets and Liabilities
The following tables show the carrying amount and associated cumulative basis adjustments related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships:
December 31, 2025
Cumulative Fair Value Hedging Adjustment Increasing (Decreasing) the carrying amount
(In millions)Carrying Amount of Hedged Assets/LiabilitiesActive
De-designated(1)
Long-term debt$15,553 $(76)$72 
Available-for-sale securities(2)(3)
22,804 99 — 
December 31, 2024
Cumulative Fair Value Hedging Adjustment Increasing (Decreasing) the carrying amount
(In millions)Carrying Amount of Hedged Assets/LiabilitiesActive
De-designated(1)
Long-term debt$15,951 $(323)$103 
Available-for-sale securities(2)(3)
18,666 (376)1 
(1) Represents hedged items no longer designated in qualifying fair value hedging relationships for which an associated basis adjustment exists at the balance sheet date.
(2) Included in these amounts is the amortized cost of the financial assets designated in under the portfolio layer hedging relationships (hedged item is the hedged layer of a closed portfolio of financial assets expected to remain outstanding at the end of the hedging relationship). At December 31, 2025 and 2024, the amortized cost of the closed portfolios used in these hedging relationships was $3.30 billion and $3.32 billion, respectively, of which $1.73 billion and $1.82 billion, respectively, was designated under the portfolio layer hedging relationship. At December 31, 2025 and 2024, the cumulative adjustment associated with these hedging relationships was $21 million and $(26) million, respectively.
(3) Carrying amount represents amortized cost.
v3.25.4
Offsetting Arrangements (Tables)
 12 Months Ended
Dec. 31, 2025
Offsetting [Abstract]  
Offsetting Assets The following tables present information about the offsetting of assets related to derivative contracts and secured financing transactions, as of the dates indicated:
Assets:December 31, 2025
Gross Amounts of Recognized
Assets(1)(2)
Gross Amounts Offset in Statement of Condition(3)
Net Amounts of Assets Presented in Statement of ConditionGross Amounts Not Offset in Statement of Condition
(In millions)
Cash and Securities Received(4)
Net Amount(5)
Derivatives:
Foreign exchange contracts
$14,224 $(7,618)$6,606 $— $6,606 
Interest rate contracts(6)
34 (5)29 — 29 
Other derivative contracts
1 — 1 — 1 
Cash collateral and securities netting
NA(2,481)(2,481)(956)(3,437)
Total derivatives
14,259 (10,104)4,155 (956)3,199 
Other financial instruments:
Resale agreements and securities borrowing(7)(8)
297,824 (252,779)45,045 (42,683)2,362 
Total derivatives and other financial instruments$312,083 $(262,883)$49,200 $(43,639)$5,561 
Assets:December 31, 2024
Gross Amounts of Recognized
Assets(1)(2)
Gross Amounts Offset in Statement of Condition(3)
Net Amounts of Assets Presented in Statement of ConditionGross Amounts Not Offset in Statement of Condition
(In millions)
Cash and Securities Received(4)
Net Amount(5)
Derivatives:
Foreign exchange contracts
$29,439 $(16,424)$13,015 $— $13,015 
Interest rate contracts(6)
28 (1)27 — 27 
Other derivative contracts
1 — 1 — 1 
Cash collateral and securities netting
NA(1,860)(1,860)(1,197)(3,057)
Total derivatives
29,468 (18,285)11,183 (1,197)9,986 
Other financial instruments:
Resale agreements and securities borrowing(7)(8)
276,151 (232,021)44,130 (42,589)1,541 
Total derivatives and other financial instruments$305,619 $(250,306)$55,313 $(43,786)$11,527 
(1) Amounts include all transactions regardless of whether or not they are subject to an enforceable netting arrangement.
(2) Refer to Note 1 and Note 2 for additional information about the measurement basis of derivative instruments.
(3) Amounts subject to netting arrangements which have been determined to be legally enforceable and eligible for netting in the consolidated statement of condition.
(4) Includes securities in connection with our securities borrowing transactions.
(5) Includes amounts secured by collateral not determined to be subject to enforceable netting arrangements.
(6) Variation margin payments presented as settlements rather than collateral.
(7) Included in the $45.05 billion as of December 31, 2025 were $6.81 billion of resale agreements and $38.24 billion of collateral provided related to securities borrowing. Included in the $44.13 billion as of December 31, 2024 were $6.68 billion of resale agreements and $37.45 billion of collateral provided related to securities borrowing. Resale agreements and collateral provided related to securities borrowing were recorded in securities purchased under resale agreements and other assets, respectively, in our consolidated statement of condition. Refer to Note 12 for additional information with respect to principal securities finance transactions.
(8) Offsetting of resale agreements primarily relates to our involvement in FICC, where we settle transactions on a net basis for payment and delivery through the Fedwire system.
NA Not applicable
Offsetting Liabilities
The following tables present information about the offsetting of liabilities related to derivative contracts and secured financing transactions, as of the dates indicated:
Liabilities:December 31, 2025
Gross Amounts of Recognized Liabilities(1)(2)
Gross Amounts Offset in Statement of Condition(3)
Net Amounts of Liabilities Presented in Statement of ConditionGross Amounts Not Offset in Statement of Condition
(In millions)
Cash and Securities Received(4)
Net Amount(5)
Derivatives:
Foreign exchange contracts$14,097 $(7,617)$6,480 $— $6,480 
Interest rate contracts(6)
5 (5)— — — 
Other derivative contracts159 — 159 — 159 
Cash collateral and securities nettingNA(1,614)(1,614)(757)(2,371)
Total derivatives14,261 (9,236)5,025 (757)4,268 
Other financial instruments:
Repurchase agreements and securities lending(7)(8)
273,785 (252,779)21,006 (20,165)841 
Total derivatives and other financial instruments$288,046 $(262,015)$26,031 $(20,922)$5,109 
Liabilities:December 31, 2024
Gross Amounts of Recognized Liabilities(1)(2)
Gross Amounts Offset in Statement of Condition(3)
Net Amounts of Liabilities Presented in Statement of ConditionGross Amounts Not Offset in Statement of Condition
(In millions)
Cash and Securities Received(4)
Net Amount(5)
Derivatives:
Foreign exchange contracts$28,904 $(16,424)$12,480 $— $12,480 
Interest rate contracts(6)
1 (1)— — — 
Other derivative contracts219 — 219 — 219 
Cash collateral and securities nettingNA(6,103)(6,103)(1,572)(7,675)
Total derivatives29,124 (22,528)6,596 (1,572)5,024 
Other financial instruments:
Repurchase agreements and securities lending(7)(8)
250,032 (232,021)18,011 (17,835)176 
Total derivatives and other financial instruments$279,156 $(254,549)$24,607 $(19,407)$5,200 
(1) Amounts include all transactions regardless of whether or not they are subject to an enforceable netting arrangement.
(2) Refer to Note 1 and Note 2 for additional information about the measurement basis of derivative instruments.
(3) Amounts subject to netting arrangements which have been determined to be legally enforceable and eligible for netting in the consolidated statement of condition.
(4) Includes securities provided in connection with our securities lending transactions.
(5) Includes amounts secured by collateral not determined to be subject to enforceable netting arrangements.
(6) Variation margin payments presented as settlements rather than collateral.
(7) Included in the $21.01 billion as of December 31, 2025 were $0.84 billion of repurchase agreements and $20.17 billion of collateral received related to securities lending transactions. Included in the $18.01 billion as of December 31, 2024 were $3.68 billion of repurchase agreements and $14.33 billion of collateral received related to securities lending transactions. Repurchase agreements and collateral received related to securities lending were recorded in securities sold under repurchase agreements and accrued expenses and other liabilities, respectively, in our consolidated statement of condition. Refer to Note 12 for additional information with respect to principal securities finance transactions.
(8) Offsetting of repurchase agreements primarily relates to our involvement in FICC, where we settle transactions on a net basis for payment and delivery through the Fedwire system.
NA Not applicable
Securities Sold and Securities Loaned Under Repurchase Agreements
The following table summarizes our repurchase agreements and securities lending transactions by category of collateral pledged and remaining maturity of these agreements as of the periods indicated:
As of December 31, 2025As of December 31, 2024
(In millions)Overnight and ContinuousUp to 30 Days30-90 DaysGreater than 90 DaysTotalOvernight and ContinuousUp to 30 Days30-90 DaysGreater than 90 DaysTotal
Repurchase agreements:
U.S. Treasury and agency securities$243,596 $— $— $— $243,596 $223,095 $350 $1,277 $2,500 $227,222 
Total243,596 — — — 243,596 223,095 350 1,277 2,500 227,222 
Securities lending transactions:
U.S. Treasury and agency securities
175 — — — 175 152 — — — 152 
Corporate debt securities29 — — — 29 193 — — — 193 
Equity securities11,279 — 1 3,215 14,495 11,181 13 — 4,519 15,713 
Other(1)
15,490 — — — 15,490 6,752 — — — 6,752 
Total26,973 — 1 3,215 30,189 18,278 13 — 4,519 22,810 
Gross amount of recognized liabilities for repurchase agreements and securities lending$270,569 $— $1 $3,215 $273,785 $241,373 $363 $1,277 $7,019 $250,032 
(1) Represents a security interest in underlying client assets related to our prime services business, which assets clients have allowed us to transfer and re-pledge.
v3.25.4
Commitments and Guarantees (Tables)
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Guarantor Obligations
The following table presents the aggregate gross contractual amounts of our off-balance sheet commitments and guarantees, as of the dates indicated:
(In millions)December 31, 2025December 31, 2024
Commitments:
Unfunded credit facilities$35,697 $34,191 
Guarantees(1):
Indemnified securities financing$371,968 $310,814 
Standby letters of credit569 908 
(1) The potential losses associated with these guarantees equal the gross contractual amounts and do not consider the value of any collateral or reflect any participations to independent third parties.
Schedule of Repurchase Agreements
The following table summarizes the aggregate fair values of indemnified securities financing and related collateral, as well as collateral invested in indemnified repurchase agreements, as of the dates indicated:
(In millions)December 31, 2025December 31, 2024
Fair value of indemnified securities financing$371,968 $310,814 
Fair value of cash and securities held by us, as agent, as collateral for indemnified securities financing393,584 325,611 
Fair value of collateral for indemnified securities financing invested in indemnified repurchase agreements51,762 63,655 
Fair value of cash and securities held by us or our agents as collateral for investments in indemnified repurchase agreements55,943 68,507 
v3.25.4
Variable Interest Entities (Tables)
 12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Variable Interest Entities
The following table presents the impact of our tax credit programs for which we have elected to apply proportional amortization accounting on our consolidated statement of income for the periods indicated:
Years Ended December 31,
(In millions)20252024
Income recorded on investments within other fee revenue
$17 $29 
Income recorded in total revenue17 29 
Tax credits and benefits recognized in income tax expense236 256 
Proportional amortization recognized in income tax expense(191)(207)
Net benefits included in income tax expense45 49 
Net benefit attributable to tax-advantaged investments included in the consolidated statement of income for which proportional amortization has been elected$62 $78 
v3.25.4
Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Preferred Shares
The following table summarizes selected terms of each of the series of the preferred stock issued and outstanding as of December 31, 2025:
Preferred Stock(1):
Issuance DateDepositary Shares IssuedAmount outstanding (In millions)Ownership Interest Per Depositary ShareLiquidation Preference Per ShareLiquidation Preference Per Depositary SharePer Annum Dividend RateDividend Payment FrequencyCarrying Value as of December 31, 2025
(In millions)
Redemption Date(2)
Series GApril 201620,000,000 $500 1/4,000th100,000 25 
5.35%(3)
Quarterly$493 March 15, 2026
Series IJanuary 20241,500,000 1,500 1/100th100,000 1,000 
6.700% through March 14, 2029; resets March 15, 2029 and every subsequent five year anniversary at the five- year U.S. Treasury rate plus 2.613%
Quarterly1,481 March 15, 2029
Series JJuly 2024850,000 850 1/100th100,000 1,000 
6.700% through September 14, 2029; resets September 15, 2029 and every subsequent five year anniversary at the five-year U.S. Treasury rate plus 2.628%
Quarterly842 September 15, 2029
Series KFebruary 2025750,000 750 1/100th100,000 1,000 
6.450% through September 14, 2030; resets September 15, 2030 and every subsequent five year anniversary at the five- year U.S. Treasury rate plus 2.135%
Quarterly743 September 15, 2030
(1) The preferred stock and corresponding depositary shares may be redeemed at our option in whole, but not in part, prior to the redemption date upon the occurrence of a regulatory capital treatment event, as defined in the certificate of designation, at a redemption price equal to the liquidation price per share and liquidation price per depositary share plus any declared and unpaid dividends, without accumulation of any undeclared dividends.
(2) On the redemption date, or any dividend payment date thereafter, the preferred stock and corresponding depositary shares may be redeemed by us, in whole or in part, at the liquidation price per share and liquidation price per depositary share plus any declared and unpaid dividends, without accumulation of any undeclared dividends.
(3) The dividend rate for the floating rate period of the Series G preferred stock that begins on March 15, 2026 and all subsequent floating rate periods will remain at the current fixed rate in accordance with the LIBOR Act and the contractual terms of the Series G preferred stock.
Dividends Declared
The following table presents the dividends declared for each of the series of preferred stock issued and outstanding for the periods indicated:
Years Ended December 31,
20252024
(Dollars in millions, except per share amounts)Dividends Declared per ShareDividends Declared per Depositary ShareTotalDividends Declared per ShareDividends Declared per Depositary ShareTotal
Preferred Stock:
Series D$— $— $— $1,475 $0.37 $11 
Series F— — — 2,336 23.36 6 
Series G5,350 1.34 27 5,350 1.34 27 
Series H— — — 6,251 62.51 31 
Series I6,700 67.00 100 5,863 58.63 88 
Series J
6,700 67.00 57 2,643 26.43 22 
Series K
5,536 55.36 42 — — — 
Total$226 $185 
The table below presents the dividends declared on common stock for the periods indicated:
Years Ended December 31,
20252024
Dividends Declared per ShareTotal (In millions)Dividends Declared per ShareTotal (In millions)
Common Stock$3.20 $909 $2.90 $859 
Stock Repurchase Program
The table below presents the activity under our common share repurchase program for the periods indicated:
Years Ended December 31,
20252024
Shares Acquired (In millions)Average Cost per ShareTotal Acquired (In millions)Shares Acquired (In millions)Average Cost per ShareTotal Acquired (In millions)
2024 Program
11.5 $104.05 $1,200 15.1 $85.89 $1,300 
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table presents the after-tax components of AOCI and changes for the periods indicated, net of related taxes:
(In millions)Net Unrealized Gains (Losses) on Cash Flow Hedges
Net Unrealized Gains (Losses) on Investment Securities(1)
Net Unrealized Losses on Retirement PlansForeign Currency TranslationNet Unrealized Gains (Losses) on Hedges of Net Investments in Non-U.S. SubsidiariesTotal
Balance as of December 31, 2022$(359)$(1,817)$(143)$(1,751)$359 $(3,711)
Other comprehensive income (loss) before reclassifications75 442 (3)351 (90)775 
Increase (decrease) due to amounts reclassified from accumulated other comprehensive income153 428 1 — — 582 
Other comprehensive income (loss)228 870 (2)351 (90)1,357 
Balance as of December 31, 2023(131)(947)(145)(1,400)269 (2,354)
Other comprehensive income (loss) before reclassifications39 15 14 (768)540 (160)
Increase (decrease) due to amounts reclassified from accumulated other comprehensive income(40)452 2 — — 414 
Other comprehensive income (loss)(1)467 16 (768)540 254 
Balance as of December 31, 2024(132)(480)(129)(2,168)809 (2,100)
Other comprehensive income (loss) before reclassifications(5)224 36 1,375 (783)847 
Increase (decrease) due to amounts reclassified from accumulated other comprehensive income104 105 1 — — 210 
Other comprehensive income (loss)99 329 37 1,375 (783)1,057 
Balance as of December 31, 2025$(33)$(151)$(92)$(793)$26 $(1,043)
(1) Includes after-tax net unamortized unrealized gains (losses) of $(267) million, $(374) million and $(530) million as of December 31, 2025, 2024 and 2023, respectively, related to AFS investment securities previously transferred to HTM.
Schedule of Reclassifications Out of AOCI
The following table presents after-tax reclassifications into earnings for the periods indicated:
Years Ended December 31,
202520242023
(In millions)
Amounts Reclassified into EarningsAffected Line Item in Consolidated Statement of Income
Investment securities:
Net realized (gains) losses from sales of available-for-sale securities, net of related taxes of $(2), $21 and $81 respectively
$(2)$59 $213 Net gains (losses) from sales of available-for-sale securities
Losses reclassified from accumulated other comprehensive income into income, net of related taxes of $47, $137 and $81 respectively
107 393 215 Net interest income
Cash flow hedges:
Losses (gains) reclassified from accumulated other comprehensive income into income, net of related taxes of $31, $(14) and $55 respectively
104 (40)153 Net interest income
Retirement plans:
Amortization of actuarial losses, net of related taxes of nil, nil and nil respectively
1 2 1 Compensation and employee benefits expenses
Total amounts reclassified from accumulated other comprehensive income$210 $414 $582 
v3.25.4
Regulatory Capital (Tables)
 12 Months Ended
Dec. 31, 2025
Banking and Thrift, Other Disclosure [Abstract]  
Schedule of Regulatory Capital
The following table presents the regulatory capital structure, total RWA, related regulatory capital ratios and the minimum required regulatory capital ratios for us and State Street Bank as of the dates indicated.
State Street Corporation
State Street Bank
(Dollars in millions)Basel III Advanced Approaches December 31, 2025Basel III Standardized Approach December 31, 2025Basel III Advanced Approaches December 31, 2024Basel III Standardized Approach December 31, 2024Basel III Advanced Approaches December 31, 2025Basel III Standardized Approach December 31, 2025Basel III Advanced Approaches December 31, 2024Basel III Standardized Approach December 31, 2024
 Common shareholders’ equity:
Common stock and related surplus$11,209 $11,209 $11,226 $11,226 $13,333 $13,333 $13,333 $13,333 
Retained earnings31,392 31,392 29,582 29,582 16,401 16,401 15,977 15,977 
Accumulated other comprehensive income (loss)(1,043)(1,043)(2,100)(2,100)(815)(815)(1,805)(1,805)
Treasury stock, at cost(17,276)(17,276)(16,198)(16,198)— — — — 
Total24,282 24,282 22,510 22,510 28,919 28,919 27,505 27,505 
Regulatory capital adjustments:
Goodwill and other intangible assets, net of associated deferred tax liabilities(8,921)(8,921)(8,320)(8,320)(8,342)(8,342)(8,054)(8,054)
Other adjustments(1)
(549)(549)(391)(391)(419)(419)(278)(278)
 Common equity tier 1 capital14,812 14,812 13,799 13,799 20,158 20,158 19,173 19,173 
Preferred stock3,559 3,559 2,816 2,816 — — — — 
 Tier 1 capital18,371 18,371 16,615 16,615 20,158 20,158 19,173 19,173 
Qualifying subordinated long-term debt1,872 1,872 1,861 1,861 524 524 530 530 
Adjusted allowance for credit losses18 203 — 183 18 203 — 183 
 Total capital$20,261 $20,446 $18,476 $18,659 $20,700 $20,885 $19,703 $19,886 
 Risk-weighted assets:
Credit risk(2)
$60,594 $125,138 $63,252 $124,281 $56,438 $121,747 $57,883 $121,785 
Operational risk(3)
51,638 NA49,350 NA50,025 NA47,538 NA
Market risk2,125 2,125 2,000 2,000 2,125 2,125 2,000 2,000 
Total risk-weighted assets$114,357 $127,263 $114,602 $126,281 $108,588 $123,872 $107,421 $123,785 
Adjusted quarterly average assets$332,978 $332,978 $318,470 $318,470 $328,034 $328,034 $314,754 $314,754 
Capital Ratios:
2025 Minimum Requirements(4)
2024 Minimum Requirements(4)
Common equity tier 1 capital8.0 %8.0 %13.0 %11.6 %12.0 %10.9 %18.6 %16.3 %17.8 %15.5 %
Tier 1 capital9.5 9.5 16.1 14.4 14.5 13.2 18.6 16.3 17.8 15.5 
Total capital11.5 11.5 17.7 16.1 16.1 14.8 19.1 16.9 18.3 16.1 
Tier 1 leverage(5)
4.0 4.0 5.5 5.5 5.2 5.2 6.1 6.1 6.1 6.1 
(1) Other adjustments within CET1 capital primarily include disallowed deferred tax assets, cash flow hedges that are not recognized at fair value on the balance sheet, and the overfunded portion of our defined benefit pension plan obligation net of associated deferred tax liabilities.
(2) Under the advanced approaches, credit risk RWA includes a CVA which reflects the risk of potential fair value adjustments for credit risk reflected in our valuation of OTC derivative contracts. We used a simple CVA approach in conformity with the Basel III advanced approaches.
(3) Under the current advanced approaches rules and regulatory guidance concerning operational risk models, RWA attributable to operational risk can vary substantially from period-to-period, without direct correlation to the effects of a particular loss event on our results of operations and financial condition and impacting dates and periods that may differ from the dates and periods as of and during which the loss event is reflected in our financial statements, with the timing and categorization dependent on the processes for model updates and, if applicable, model revalidation and regulatory review and related supervisory processes. An individual loss event can have a significant effect on the output of our operational RWA under the advanced approaches depending on the severity of the loss event and its categorization among the seven Basel-defined UOMs.
(4) Minimum requirements include a CCB of 2.5% and a SCB of 2.5% for the advanced approaches and the standardized approach, respectively, a G-SIB surcharge of 1.0% and a countercyclical buffer of 0%.Our SCB requirement remains at 2.5% for the period from October 1, 2025 through September 30, 2026, based on the results of the 2025 supervisory stress test. Additionally, in February 2026 the Federal Reserve Board voted to maintain the current SCB requirements until 2027.
(5) State Street Bank is required to maintain a minimum Tier 1 leverage ratio of 5% as it is the insured depository institution subsidiary of State Street Corporation, a U.S. G-SIB.
NA Not applicable
v3.25.4
Net Interest Income (Tables)
 12 Months Ended
Dec. 31, 2025
Banking and Thrift, Interest [Abstract]  
Components of Interest Revenue and Interest Expense
The following table presents the components of interest income and interest expense, and related NII, for the periods indicated:
Years Ended December 31,
(In millions)202520242023
Interest income:
Interest-bearing deposits with banks$2,911 $3,634 $2,869 
Investment securities:
Investment securities available-for-sale2,995 2,680 1,744 
Investment securities held-to-maturity917 1,090 1,262 
Total investment securities3,912 3,770 3,006 
Securities purchased under resale agreements672 686 312 
Trading account assets
4 — — 
Loans 2,286 2,271 1,862 
Other interest-earning assets1,859 1,616 1,131 
Total interest income11,644 11,977 9,180 
Interest expense:
Interest-bearing deposits6,382 6,627 4,991 
Securities sold under repurchase agreements95 156 34 
Federal funds purchased— — 3 
Other short-term borrowings
434 577 40 
Long-term debt1,230 1,086 888 
Other interest-bearing liabilities543 608 465 
Total interest expense8,684 9,054 6,421 
Net interest income$2,960 $2,923 $2,759 
v3.25.4
Equity-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Deferred Stock Awards
Shares
(In thousands)		Weighted-Average
Grant Date Fair
Value
Deferred Stock Awards:
Outstanding as of December 31, 20234,968 $75.72 
Granted2,551 68.70 
Vested(2,513)73.62 
Forfeited(147)73.35 
Outstanding as of December 31, 20244,859 73.20 
Granted2,185 94.24 
Vested(2,440)77.72 
Forfeited(137)79.25 
Outstanding as of December 31, 2025
4,467 80.83 
Schedule of Performance Awards
Shares
(In thousands)		Weighted-Average
Grant Date Fair Value
Performance Awards:
Outstanding as of December 31, 20232,206 $74.33 
Granted363 63.49 
Forfeited(28)80.01 
Paid out(502)65.70 
Outstanding as of December 31, 20242,039 74.44 
Granted598 88.47 
Forfeited(28)75.81 
Paid out(422)80.27 
Outstanding as of December 31, 2025
2,187 77.14 
Schedule of Cash Settled Stock Awards
Shares
(In thousands)		Weighted-Average
Grant Date Fair Value
Cash-Settled Restricted Stock Awards:
Outstanding as of December 31, 202327 $83.37 
Granted40 69.96 
Paid out(38)76.11 
Outstanding as of December 31, 202429 74.52 
Paid out(17)76.78 
Outstanding as of December 31, 2025
12 71.46 
v3.25.4
Occupancy Expense and Information Systems and Communications Expense (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Summary of Lease Costs and Other Information
The following table presents lease costs, sublease rental income, cash flows and new leases arising from lease transactions for 2025:
Years Ended December 31,
(In millions)20252024
Finance lease:
Amortization of right-of-use assets$47 $48 
Interest on lease liabilities3 3 
Total finance lease expense50 51 
Sublease income — — 
Net finance lease expense50 51 
Operating lease:
Operating lease expense179 168 
Sublease income (13)(17)
Net operating lease expense166 151 
Net lease expense$216 $202 
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases$3 $3 
Operating cash flows from operating leases193 179 
Financing cash flows from finance leases43 46 
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases$214 $174 
Finance leases64 — 
The following table presents details related to remaining lease terms and discount rate as of December 31, 2025 and 2024:
December 31, 2025December 31, 2024
Weighted-average remaining lease term (in years):
Finance leases3.41.4
Operating leases8.38.1
Weighted-average discount rate:
Finance leases5 %3 %
Operating leases5 %4 %
Schedule of Future Minimum Lease Payments, Operating Leases
The following table presents future minimum lease payments under non-cancellable leases as of December 31, 2025:
(In millions)Operating LeasesFinance LeasesTotal
2026
$174 $34 $208 
2027154 29 183 
2028136 29 165 
2029101 22 123 
203083 — 83 
Thereafter410 — 410 
Total future minimum lease payments1,058 114 1,172 
Less imputed interest(195)(8)(203)
Total$863 $106 $969 
Schedule of Future Minimum Lease Payments, Finance Leases
The following table presents future minimum lease payments under non-cancellable leases as of December 31, 2025:
(In millions)Operating LeasesFinance LeasesTotal
2026
$174 $34 $208 
2027154 29 183 
2028136 29 165 
2029101 22 123 
203083 — 83 
Thereafter410 — 410 
Total future minimum lease payments1,058 114 1,172 
Less imputed interest(195)(8)(203)
Total$863 $106 $969 
v3.25.4
Expenses (Tables)
 12 Months Ended
Dec. 31, 2025
Other Expenses [Abstract]  
Schedule of Expenses
The following table presents the components of other expenses for the periods indicated:
Years Ended December 31,
(In millions)202520242023
Professional services$444 $465 $428 
Amortization of other intangible assets223 230 239 
Sales advertising and public relations174 142 142 
Securities processing58 78 49 
Bank operations50 51 45 
Donations28 28 27 
Regulatory fees and assessments(1)
(10)142 464 
Other521 433 359 
Total other expenses$1,488 $1,569 $1,753 
(1) Includes an FDIC special assessment release of $60 million in 2025 and an FDIC special assessment charge of $99 million and $387 million in 2024 and 2023, respectively, related to FDIC’s recovery of estimated losses to the Deposit Insurance Fund associated with the closures of Silicon Valley Bank and Signature Bank reflected in other expenses
Restructuring and Related Costs
The following table presents aggregate activity for repositioning charges for the periods indicated:
(In millions)Employee Related CostsOtherTotal
Accrual Balance at December 31, 2022$83 $5 $88 
Accruals for Repositioning Charges
182 21 203 
Payments and Other Adjustments(58)(25)(83)
Accrual Balance at December 31, 2023207 1 208 
Accruals for Repositioning Charges
(15)13 (2)
Payments and Other Adjustments(96)(14)(110)
Accrual Balance at December 31, 202496 — 96 
Accruals for Repositioning Charges
211 115 326 
Payments and Other Adjustments(99)(115)(214)
Accrual Balance at December 31, 2025
$208 $— $208 
v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
The following table presents the components of income tax expense (benefit) for the periods indicated:
Years Ended December 31,
(In millions)202520242023
Current:
Federal$375 $108 $160 
State96 68 79 
Non-U.S.404 387 317 
Total current expense875 563 556 
Deferred:
Federal(133)77 (77)
State(1)2 (63)
Non-U.S.45 66 (44)
Total deferred expense (benefit)(89)145 (184)
Total income tax expense (benefit)$786 $708 $372 
Schedule of Effective Income Tax Rate Reconciliation The following table presents a reconciliation of the U.S. federal statutory tax rate to our effective income tax rate for the year ended December 31, 2025 (after adoption of ASU 2023-09):
Years Ended December 31,
(Dollars in millions)2025
U.S. federal income tax rate$783 21.0 %
Changes from statutory rate:
State and local income taxes, net of federal income tax effect(1)
81 2.2 
Foreign tax effects45 1.2 
Effects of cross-border tax laws(2)
7 0.2 
Tax Credits(3)
(68)(1.8)
Nontaxable or nondeductible items(27)(0.8)
Changes in unrecognized tax benefits(35)(0.9)
Effective tax rate$786 21.1 %
(1) State taxes in Massachusetts, New York State and New York City made up the majority (greater than 50%) of the tax effect in this category.
(2) Effects of cross-border tax laws includes the period expense for global intangible low-taxed income.
(3) Business tax credits include research, low-income housing, production and investment tax credits.
The following table presents a reconciliation of the U.S. statutory income tax rate to our effective tax rate based on income before income tax expense for the periods indicated:
Years Ended December 31,
20242023
U.S. federal income tax rate21.0 %21.0 %
Changes from statutory rate:
State taxes, net of federal benefit1.8 2.4 
Tax-exempt income(1.0)(1.5)
Business tax credits(1)
(2.0)(3.6)
Foreign tax differential1.0 (0.6)
Foreign tax credit (benefits)/ limitations(2)
0.6 (2.0)
Change in Valuation Allowance(0.5)(0.2)
Other, net(0.1)0.6 
Effective tax rate20.8 %16.1 %
(1) Business tax credits include research, low-income housing, production and investment tax credits.
(2) Foreign tax credit (benefits)/limitations includes the period expense for global intangible low-taxed income.
Schedule of Deferred Tax Assets and Liabilities
The following table presents significant components of our gross deferred tax assets and gross deferred tax liabilities as of the dates indicated:
December 31,
(In millions)20252024
Deferred tax assets:
Other amortizable assets$176 $189 
Tax credit carryforwards656 577 
Lease obligations248 214 
Deferred compensation229 111 
Restructuring charges and other reserves166 227 
NOL and other carryforwards154 147 
Pension plan13 21 
Foreign currency translation24 63 
Unrealized losses on investment securities, net52 184 
Total deferred tax assets 1,718 1,733 
Valuation allowance for deferred tax assets(198)(172)
Deferred tax assets, net of valuation allowance$1,520 $1,561 
Deferred tax liabilities:
Fixed and intangible assets$654 $634 
Investment basis differences45 47 
Right-of-use assets
240 198 
Other33 40 
Total deferred tax liabilities$972 $919 
Summary of Valuation Allowance
The table below summarizes the deferred tax assets, carryforwards and related valuation allowances recognized as of December 31, 2025:
(In millions)Deferred Tax AssetValuation AllowanceExpiration
Other amortizable assets$176 $(69)None
Tax credits656 — 
2042-2045
NOLs - Non-U.S.130 (110)2026-2042, None
NOLs - U.S.21 (17)
2026-2041, None
Other carryforwards2 (2)None
Schedule of Unrecognized Tax Benefits The following table presents activity related to unrecognized tax benefits as of the dates indicated:
December 31,
(In millions)202520242023
Beginning balance$237 $237 $285 
Decrease related to agreements with tax authorities(2)(22)(32)
Increase related to tax positions taken during current year48 36 39 
Increase/(Decrease) related to tax positions taken during prior years23 11 (34)
Decreases related to a lapse of the applicable statute of limitations(58)(25)(21)
Ending balance$248 $237 $237 
Summary of Income Taxes Paid
The table below summarizes income taxes paid for the year ended December 31, 2025 (after adoption of ASU 2023-09):
(In millions)
Year Ended December 31, 2025
U.S. Federal$78 
U.S. State:
    New York State28 
    Other33 
Total U.S. State61 
Foreign:
    United Kingdom110 
    Canada54 
    Luxembourg46 
    Ireland36 
    India34 
    Italy31 
    Other144 
Total Foreign455 
Total income taxes paid$594 
v3.25.4
Earnings Per Common Share (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share
The following table presents the computation of basic and diluted earnings per common share for the periods indicated:
Years Ended December 31,
(Dollars in millions, except per share amounts)202520242023
Net income$2,945 $2,687 $1,944 
Less:
Preferred stock dividends (226)(202)(122)
Dividends and undistributed earnings allocated to participating securities(1)
(2)(2)(1)
Net income available to common shareholders$2,717 $2,483 $1,821 
Average common shares outstanding (In thousands):
Basic average common shares284,545 297,883 322,337 
Effect of dilutive securities: equity-based awards4,474 4,343 4,231 
Diluted average common shares289,019 302,226 326,568 
Anti-dilutive securities(2)
9 14 1,251 
Earnings per common share:
Basic$9.55 $8.33 $5.65 
Diluted(3)
9.40 8.21 5.58 
(1) Represents the portion of net income available to common equity allocated to participating securities, composed of unvested and fully vested SERP (Supplemental executive retirement plans) shares and fully vested deferred director stock awards, which are equity-based awards that contain non-forfeitable rights to dividends, and are considered to participate with the common stock in undistributed earnings.
(2) Represents equity-based awards outstanding, but not included in the computation of diluted average common shares, because their effect was anti-dilutive. Additional information about equity-based awards is provided in Note 18.
(3) Calculations reflect allocation of earnings to participating securities using the two-class method, as this computation is more dilutive than the treasury stock method.
v3.25.4
Line of Business Information (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Summary of Line of Business Results
The following is a summary of our line of business results for the periods indicated.
Years Ended December 31,
Investment
Servicing		Investment
Management		OtherTotal
(Dollars in millions)202520242023202520242023202520242023202520242023
Revenue:
Servicing fees$5,324 $5,016 $4,922 $— $— $— $— $— $— $5,324 $5,016 $4,922 
Management fees— — — 2,398 2,124 1,876 — — — 2,398 2,124 1,876 
Foreign exchange trading services1,441 1,248 1,140 170 138 125 3 15 — 1,614 1,401 1,265 
Securities finance481 415 402 24 23 24 — — — 505 438 426 
Software and processing fees927 888 811 — — — (24)— — 903 888 811 
Other fee revenue
209 188 145 27 35 35 — 66 — 236 289 180 
Total fee revenue8,382 7,755 7,420 2,619 2,320 2,060 (21)81 — 10,980 10,156 9,480 
Net interest income2,945 2,899 2,740 15 24 19 — — — 2,960 2,923 2,759 
Total other income4 2 — — — — — (81)(294)4 (79)(294)
Total revenue11,331 10,656 10,160 2,634 2,344 2,079 (21)— (294)13,944 13,000 11,945 
Provision for credit losses59 75 46 — — — — — — 59 75 46 
Expenses:
Compensation and employee benefits4,220 4,078 4,033 604 555 520 211 64 191 5,035 4,697 4,744 
Information systems and communications1,960 1,743 1,568 92 86 94 42 — 41 2,094 1,829 1,703 
Transaction processing services875 825 777 175 173 180 — — — 1,050 998 957 
Other
1,001 1,041 1,035 904 841 746 70 124 398 1,975 2,006 2,179 
Total expenses8,056 7,687 7,413 1,775 1,655 1,540 323 188 630 10,154 9,530 9,583 
Income before income tax expense$3,216 $2,894 $2,701 $859 $689 $539 $(344)$(188)$(924)$3,731 $3,395 $2,316 
Pre-tax margin28 %27 %27 %33 %29 %26 %27 %26 %19 %
Average assets (in billions)$339.9 $308.5 $271.5 $3.6 $3.2 $3.2 $343.5 $311.7 $274.7 
Components of Other in Segment Reporting The following provides additional information about the items included in the line of business results “Other” column for the periods indicated.
Years Ended December 31,
Other
(Dollars in millions)202520242023
Foreign exchange trading services(1)
$3 $15 $— 
Client rescoping (revenue impact)(2)
(24)— — 
Other fee revenue(3)
— 66 — 
Gains (losses) related to investment securities, net(4)
— (81)(294)
Deferred incentive compensation expense acceleration(5)
— (79)— 
Net repositioning (charges) release(6)
(326)2 (203)
Client rescoping (expense impact)(2)
(18)— — 
Other notable items(7)
21 (111)(427)
Total$(344)$(188)$(924)
(1) Amount consists of a revenue-related recovery associated with the proceeds from a 2018 foreign exchange benchmark litigation resolution, which is reflected in foreign exchange trading services revenue.
(2) Amount related to a client rescoping which decreased income before income taxes by $42 million, of which $24 million is reflected in front office software and data revenue and $18 million is reflected in information systems and communications expenses.
(3) Amount consists of a $66 million gain on sale of equity investment, which is reflected in other fee revenue.
(4) Includes the loss on the sale of investment securities of $81 million and $294 million in 2024 and 2023, respectively, related to the repositioning of the investment portfolio.
(5) Deferred compensation expense acceleration of $79 million in 2024 reflected in compensation and employee benefits, associated with an amendment of certain outstanding deferred cash incentive compensation awards to align our deferred pay mix with peers.
(6) Amount in 2025 includes a charge of $211 million, reflected in compensation and employee benefits primarily from workforce rationalization, a $69 million charge reflected in occupancy costs associated with real estate footprint optimization and other repositioning charges of $24 million and $22 million, reflected in information systems and communications and other expenses, respectively, relating to operating model changes. The amount in 2024 includes a $15 million release related to compensation and employee benefits, partially offset by $13 million related to occupancy costs associated with real estate footprint, and net repositioning charges in 2023 includes $182 million reflected in compensation and employee benefits expenses related to workforce rationalization and $21 million of occupancy costs related to real estate footprint optimization.
(7) Amount in 2025 primarily includes an FDIC special assessment release of $60 million and legal and related costs of $40 million reflected in other expenses. Amounts in 2024 and 2023 are primarily related to the FDIC special assessment of $99 million and $387 million, respectively, reflected in other expenses. Other notable items also include a $12 million charge in 2024 reflected in other expenses and $41 million in 2023 reflected in information systems and communications, primarily related to operating model changes.
v3.25.4
Revenue from Contracts with Customers (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue by Category
In the following table, revenue is disaggregated by our two lines of business and by revenue stream for which the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The amounts in the “Other” columns were not allocated to our business lines.
Year Ended December 31, 2025
Investment ServicingInvestment ManagementOtherTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2025
Servicing fees$5,324 $— $5,324 $— $— $— $— $— $— $5,324 
Management fees— — — 2,398 — 2,398 — — — 2,398 
Foreign exchange trading services 414 1,027 1,441 170 — 170 — 3 3 1,614 
Securities finance212 269 481 — 24 24 — — — 505 
Software and processing fees 731 196 927 — — — (24)— (24)903 
Other fee revenue— 209 209 — 27 27 — — — 236 
Total fee revenue6,681 1,701 8,382 2,568 51 2,619 (24)3 (21)10,980 
Net interest income— 2,945 2,945 — 15 15 — — — 2,960 
Total other income— 4 4 — — — — — — 4 
Total revenue$6,681 $4,650 $11,331 $2,568 $66 $2,634 $(24)$3 $(21)$13,944 
Year Ended December 31, 2024
Investment ServicingInvestment ManagementOtherTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2024
Servicing fees$5,016 $— $5,016 $— $— $— $— $— $— $5,016 
Management fees— — — 2,124 — 2,124 — — — 2,124 
Foreign exchange trading services 386 862 1,248 138 — 138 — 15 15 1,401 
Securities finance185 230 415 — 23 23 — — — 438 
Software and processing fees 685 203 888 — — — — — — 888 
Other fee revenue— 188 188 — 35 35 — 66 66 289 
Total fee revenue6,272 1,483 7,755 2,262 58 2,320 — 81 81 10,156 
Net interest income— 2,899 2,899 — 24 24 — — — 2,923 
Total other income— 2 2 — — — — (81)(81)(79)
Total revenue$6,272 $4,384 $10,656 $2,262 $82 $2,344 $— $— $— $13,000 
Year Ended December 31, 2023
Investment ServicingInvestment ManagementOtherTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2023
Servicing fees$4,922 $— $4,922 $— $— $— $— $— $— $4,922 
Management fees— — — 1,876 — 1,876 — — — 1,876 
Foreign exchange trading services344 796 1,140 125 — 125 — — — 1,265 
Securities finance225 177 402 — 24 24 — — — 426 
Software and processing fees627 184 811 — — — — — — 811 
Other fee revenue— 145 145 — 35 35 — — — 180 
Total fee revenue6,118 1,302 7,420 2,001 59 2,060 — — — 9,480 
Net interest income— 2,740 2,740 — 19 19 — — — 2,759 
Total other income— — — — — — — (294)(294)(294)
Total revenue$6,118 $4,042 $10,160 $2,001 $78 $2,079 $— $(294)$(294)$11,945 
The following table presents our U.S. and non-U.S. financial results for the periods indicated:
Years Ended December 31,
202520242023
(In millions)
Non-U.S.(1)
U.S.Total
Non-U.S.(1)
U.S.Total
Non-U.S.(1)
U.S.Total
Total revenue$5,936 $8,008 $13,944 $5,485 $7,515 $13,000 $5,108 $6,837 $11,945 
Income before income tax expense 1,493 2,238 3,731 1,376 2,019 3,395 1,057 1,259 2,316 
(1) Geographic mix is generally based on the domicile of the entity servicing the funds and is not necessarily representative of the underlying asset mix.
v3.25.4
Non-U.S. Activities (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Results from Non-U.S. Operations
In the following table, revenue is disaggregated by our two lines of business and by revenue stream for which the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The amounts in the “Other” columns were not allocated to our business lines.
Year Ended December 31, 2025
Investment ServicingInvestment ManagementOtherTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2025
Servicing fees$5,324 $— $5,324 $— $— $— $— $— $— $5,324 
Management fees— — — 2,398 — 2,398 — — — 2,398 
Foreign exchange trading services 414 1,027 1,441 170 — 170 — 3 3 1,614 
Securities finance212 269 481 — 24 24 — — — 505 
Software and processing fees 731 196 927 — — — (24)— (24)903 
Other fee revenue— 209 209 — 27 27 — — — 236 
Total fee revenue6,681 1,701 8,382 2,568 51 2,619 (24)3 (21)10,980 
Net interest income— 2,945 2,945 — 15 15 — — — 2,960 
Total other income— 4 4 — — — — — — 4 
Total revenue$6,681 $4,650 $11,331 $2,568 $66 $2,634 $(24)$3 $(21)$13,944 
Year Ended December 31, 2024
Investment ServicingInvestment ManagementOtherTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2024
Servicing fees$5,016 $— $5,016 $— $— $— $— $— $— $5,016 
Management fees— — — 2,124 — 2,124 — — — 2,124 
Foreign exchange trading services 386 862 1,248 138 — 138 — 15 15 1,401 
Securities finance185 230 415 — 23 23 — — — 438 
Software and processing fees 685 203 888 — — — — — — 888 
Other fee revenue— 188 188 — 35 35 — 66 66 289 
Total fee revenue6,272 1,483 7,755 2,262 58 2,320 — 81 81 10,156 
Net interest income— 2,899 2,899 — 24 24 — — — 2,923 
Total other income— 2 2 — — — — (81)(81)(79)
Total revenue$6,272 $4,384 $10,656 $2,262 $82 $2,344 $— $— $— $13,000 
Year Ended December 31, 2023
Investment ServicingInvestment ManagementOtherTotal
(Dollars in millions)Topic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotalTopic 606 revenueAll other revenueTotal2023
Servicing fees$4,922 $— $4,922 $— $— $— $— $— $— $4,922 
Management fees— — — 1,876 — 1,876 — — — 1,876 
Foreign exchange trading services344 796 1,140 125 — 125 — — — 1,265 
Securities finance225 177 402 — 24 24 — — — 426 
Software and processing fees627 184 811 — — — — — — 811 
Other fee revenue— 145 145 — 35 35 — — — 180 
Total fee revenue6,118 1,302 7,420 2,001 59 2,060 — — — 9,480 
Net interest income— 2,740 2,740 — 19 19 — — — 2,759 
Total other income— — — — — — — (294)(294)(294)
Total revenue$6,118 $4,042 $10,160 $2,001 $78 $2,079 $— $(294)$(294)$11,945 
The following table presents our U.S. and non-U.S. financial results for the periods indicated:
Years Ended December 31,
202520242023
(In millions)
Non-U.S.(1)
U.S.Total
Non-U.S.(1)
U.S.Total
Non-U.S.(1)
U.S.Total
Total revenue$5,936 $8,008 $13,944 $5,485 $7,515 $13,000 $5,108 $6,837 $11,945 
Income before income tax expense 1,493 2,238 3,731 1,376 2,019 3,395 1,057 1,259 2,316 
(1) Geographic mix is generally based on the domicile of the entity servicing the funds and is not necessarily representative of the underlying asset mix.
v3.25.4
Parent Company Financial Statements (Tables)
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
Statement of Income - Parent Company
Statement of Income - Parent Company
Years Ended December 31,
(In millions)202520242023
Cash dividends from consolidated banking subsidiary$2,600 $1,250 $4,550 
Cash dividends from consolidated non-banking subsidiaries and unconsolidated entities316 58 320 
Other, net593 516 274 
Total revenue3,509 1,824 5,144 
Interest expense1,235 1,170 975 
Other expenses257 239 198 
Total expenses1,492 1,409 1,173 
Income tax benefit
(209)(232)(224)
Income before equity in undistributed income of consolidated subsidiaries and unconsolidated entities
2,226 647 4,195 
Equity in undistributed income (loss) of consolidated subsidiaries and unconsolidated entities:
Consolidated banking subsidiary425 1,522 (2,464)
Consolidated non-banking subsidiaries and unconsolidated entities294 518 213 
Net income$2,945 $2,687 $1,944 
Statement of Condition - Parent Company
Statement of Condition - Parent Company
As of December 31,
(In millions)20252024
Assets:
Interest-bearing deposits with consolidated banking subsidiary$627 $438 
Trading account assets539 499 
Investment securities available-for-sale428 378 
Investments in:
Consolidated banking subsidiary28,919 27,504 
Consolidated non-banking subsidiaries11,584 10,487 
Unconsolidated entities104 114 
Notes and other receivables from:
Consolidated banking subsidiary142 170 
Consolidated non-banking subsidiaries and unconsolidated entities10,805 9,211 
Other assets218 127 
Total assets$53,366 $48,928 
Liabilities:
Notes and other payables to:
  Consolidated banking subsidiary$9 $— 
  Consolidated non-banking subsidiaries and unconsolidated entities2,082 2,063 
Accrued expenses and other liabilities679 652 
Long-term debt22,755 20,887 
Total liabilities25,525 23,602 
Shareholders’ equity27,841 25,326 
Total liabilities and shareholders’ equity$53,366 $48,928 
Statement of Cash Flows - Parent Company
Statement of Cash Flows - Parent Company
Years Ended December 31,
(In millions)202520242023
Net cash provided by operating activities
$2,283 $622 $4,194 
Investing Activities:
Net (decrease) increase in interest-bearing deposits with consolidated banking subsidiary
(189)221 (199)
Proceeds from sales and maturities of available-for-sale securities1,670 1,120 830 
Purchases of available-for-sale securities(1,701)(1,204)(836)
Investments in consolidated banking and non-banking subsidiaries(11,102)(9,330)(10,784)
Sale or repayment of investment in consolidated banking and non-banking subsidiaries9,100 7,875 7,920 
Net cash used in investing activities
(2,222)(1,318)(3,069)
Financing Activities:
Proceeds from issuance of long-term debt, net of issuance costs5,722 4,281 6,221 
Payments for long-term debt(4,100)(2,000)(2,500)
Proceeds from issuance of preferred stock, net of issuance costs743 2,350 — 
Payments for redemption of preferred stock— (1,500)— 
Repurchases of common stock(1,200)(1,319)(3,781)
Repurchases of common stock for employee tax withholding(106)(83)(95)
Payments for cash dividends(1,120)(1,033)(970)
Net cash (used in) provided by financing activities
(61)696 (1,125)
Net change— — — 
Cash and due from banks at beginning of year— — — 
Cash and due from banks at end of year$— $— $— 
v3.25.4
Summary of Significant Accounting Policies - Basis of Presentation (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
segment
Accounting Policies [Abstract]  
Lines of business | segment 2
Accrual of loss contingency | $ $ 43
v3.25.4
Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($)
$ in Billions
Dec. 31, 2025
Dec. 31, 2024
Cash and Cash Equivalents [Line Items]    
Cash and due from banks, amount inaccessible $ 2.4 $ 1.3
RUSSIA    
Cash and Cash Equivalents [Line Items]    
Cash and due from banks, amount inaccessible $ 1.6 $ 0.8
v3.25.4
Fair Value - Schedule of Fair Value Measurements on a Recurring Basis (Details) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Trading account assets $ 827,000,000 $ 768,000,000  
Available-for-sale investment securities: 67,154,000,000 58,895,000,000  
Derivative asset, Impact of Netting (10,104,000,000) (18,285,000,000)  
Derivative assets 4,155,000,000 11,183,000,000  
Other 854,000,000 767,000,000  
Other assets - impact of netting 0 0  
Total assets carried at fair value 72,990,000,000 71,613,000,000  
Derivative liability, Impact of Netting (9,236,000,000) (22,528,000,000)  
Derivative liabilities 5,025,000,000 6,596,000,000  
Total liabilities carried at fair value 5,025,000,000 6,596,000,000  
Derivative asset, collateral, cash offset 2,481,000,000 1,860,000,000  
Derivative liability, collateral, cash offset 1,614,000,000 6,103,000,000  
Available for sale, amortized cost 66,973,000,000 59,006,000,000  
Debt securities, AFS, allowance 0 0  
Investment securities held-to-maturity (fair value of $34,166 and $41,906) 38,171,000,000 47,727,000,000  
Debt securities, HTM, allowance   0 $ 1,000,000
U.S. government securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Trading account assets 55,000,000 34,000,000  
Non-U.S. government securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Trading account assets 124,000,000 121,000,000  
Other      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Trading account assets 648,000,000 613,000,000  
Available-for-sale investment securities: 0 52,000,000  
Available for sale, amortized cost 0 53,000,000  
US Treasury and federal agencies, direct obligations      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 23,260,000,000 23,525,000,000  
Available for sale, amortized cost 23,210,000,000 23,539,000,000  
Investment securities held-to-maturity (fair value of $34,166 and $41,906) 573,000,000 5,417,000,000  
US Treasury and federal agencies, mortgage-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 15,586,000,000 10,566,000,000  
Available for sale, amortized cost 15,550,000,000 10,699,000,000  
Investment securities held-to-maturity (fair value of $34,166 and $41,906) 32,876,000,000 36,101,000,000  
Total U.S. Treasury and federal agencies      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 38,846,000,000 34,091,000,000  
Available for sale, amortized cost 38,760,000,000 34,238,000,000  
Investment securities held-to-maturity (fair value of $34,166 and $41,906) 33,449,000,000 41,518,000,000  
Non-U.S. debt securities, mortgage-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 2,578,000,000 2,430,000,000  
Available for sale, amortized cost 2,573,000,000 2,426,000,000  
Non-U.S. debt securities, asset-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 2,085,000,000 1,868,000,000  
Available for sale, amortized cost 2,081,000,000 1,865,000,000  
Non-U.S. sovereign, supranational and non-U.S. agency      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 17,731,000,000 13,939,000,000  
Available for sale, amortized cost 17,693,000,000 13,954,000,000  
Investment securities held-to-maturity (fair value of $34,166 and $41,906) 2,461,000,000 3,673,000,000  
Non-U.S. debt securities, other      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 2,826,000,000 2,821,000,000  
Available for sale, amortized cost 2,784,000,000 2,787,000,000  
Total non-U.S. debt securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 25,220,000,000 21,058,000,000  
Available for sale, amortized cost 25,131,000,000 21,032,000,000  
Investment securities held-to-maturity (fair value of $34,166 and $41,906) 2,461,000,000 3,673,000,000  
Asset-backed securities, student loans      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 64,000,000 90,000,000  
Available for sale, amortized cost 63,000,000 89,000,000  
Investment securities held-to-maturity (fair value of $34,166 and $41,906) 2,261,000,000 2,536,000,000  
Asset-backed securities, collateralized loan obligations      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 2,905,000,000 3,453,000,000  
Available for sale, amortized cost 2,904,000,000 3,447,000,000  
Asset-backed securities, non-agency CMBS and RMBS      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 3,000,000 4,000,000  
Available for sale, amortized cost 0 1,000,000  
Asset-backed securities, other      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 91,000,000 91,000,000  
Available for sale, amortized cost 90,000,000 90,000,000  
Total asset-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 3,063,000,000 3,638,000,000  
Available for sale, amortized cost 3,057,000,000 3,627,000,000  
Investment securities held-to-maturity (fair value of $34,166 and $41,906) 2,261,000,000 2,536,000,000  
State and political subdivisions      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 25,000,000 56,000,000  
Available for sale, amortized cost 25,000,000 56,000,000  
Foreign exchange contracts      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative asset, Impact of Netting (10,073,000,000) (18,262,000,000)  
Derivative assets 4,151,000,000 11,177,000,000  
Derivative liability, Impact of Netting (9,231,000,000) (22,527,000,000)  
Derivative liabilities 4,866,000,000 6,377,000,000  
Interest rate contracts      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative asset, Impact of Netting (31,000,000) (23,000,000)  
Derivative assets 3,000,000 5,000,000  
Derivative liability, Impact of Netting (5,000,000) (1,000,000)  
Derivative liabilities 0 0  
Other derivative contracts      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative liability, Impact of Netting 0 0  
Derivative liabilities 159,000,000 219,000,000  
Other derivative contracts      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative asset, Impact of Netting 0 0  
Derivative assets 1,000,000 1,000,000  
Quoted Market Prices in Active Markets (Level 1)      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Trading account assets 55,000,000 34,000,000  
Available-for-sale investment securities: 23,260,000,000 23,525,000,000  
Derivative asset 9,000,000 22,000,000  
Other 22,000,000 20,000,000  
Total assets carried at fair value 23,346,000,000 23,601,000,000  
Derivative liability 0 0  
Total liabilities carried at fair value 0 0  
Quoted Market Prices in Active Markets (Level 1) | U.S. government securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Trading account assets 55,000,000 34,000,000  
Quoted Market Prices in Active Markets (Level 1) | Non-U.S. government securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Trading account assets 0 0  
Quoted Market Prices in Active Markets (Level 1) | Other      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Trading account assets 0 0  
Available-for-sale investment securities: 0 0  
Quoted Market Prices in Active Markets (Level 1) | US Treasury and federal agencies, direct obligations      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 23,260,000,000 23,525,000,000  
Quoted Market Prices in Active Markets (Level 1) | US Treasury and federal agencies, mortgage-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Quoted Market Prices in Active Markets (Level 1) | Total U.S. Treasury and federal agencies      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 23,260,000,000 23,525,000,000  
Quoted Market Prices in Active Markets (Level 1) | Non-U.S. debt securities, mortgage-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Quoted Market Prices in Active Markets (Level 1) | Non-U.S. debt securities, asset-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Quoted Market Prices in Active Markets (Level 1) | Non-U.S. sovereign, supranational and non-U.S. agency      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Quoted Market Prices in Active Markets (Level 1) | Non-U.S. debt securities, other      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Quoted Market Prices in Active Markets (Level 1) | Total non-U.S. debt securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Quoted Market Prices in Active Markets (Level 1) | Asset-backed securities, student loans      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Quoted Market Prices in Active Markets (Level 1) | Asset-backed securities, collateralized loan obligations      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Quoted Market Prices in Active Markets (Level 1) | Asset-backed securities, non-agency CMBS and RMBS      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Quoted Market Prices in Active Markets (Level 1) | Asset-backed securities, other      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Quoted Market Prices in Active Markets (Level 1) | Total asset-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Quoted Market Prices in Active Markets (Level 1) | State and political subdivisions      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Quoted Market Prices in Active Markets (Level 1) | Foreign exchange contracts      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative asset 5,000,000 16,000,000  
Derivative liability 0 0  
Quoted Market Prices in Active Markets (Level 1) | Interest rate contracts      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative asset 3,000,000 5,000,000  
Derivative liability 0 0  
Quoted Market Prices in Active Markets (Level 1) | Other derivative contracts      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative liability 0 0  
Quoted Market Prices in Active Markets (Level 1) | Other derivative contracts      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative asset 1,000,000 1,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Trading account assets 772,000,000 734,000,000  
Available-for-sale investment securities: 43,894,000,000 35,370,000,000  
Derivative asset 14,249,000,000 29,445,000,000  
Other 832,000,000 747,000,000  
Total assets carried at fair value 59,747,000,000 66,296,000,000  
Derivative liability 14,261,000,000 29,124,000,000  
Total liabilities carried at fair value 14,261,000,000 29,124,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | U.S. government securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Trading account assets 0 0  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | Non-U.S. government securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Trading account assets 124,000,000 121,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | Other      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Trading account assets 648,000,000 613,000,000  
Available-for-sale investment securities: 0 52,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | US Treasury and federal agencies, direct obligations      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | US Treasury and federal agencies, mortgage-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 15,586,000,000 10,566,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | Total U.S. Treasury and federal agencies      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 15,586,000,000 10,566,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | Non-U.S. debt securities, mortgage-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 2,578,000,000 2,430,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | Non-U.S. debt securities, asset-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 2,085,000,000 1,868,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | Non-U.S. sovereign, supranational and non-U.S. agency      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 17,731,000,000 13,939,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | Non-U.S. debt securities, other      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 2,826,000,000 2,821,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | Total non-U.S. debt securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 25,220,000,000 21,058,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | Asset-backed securities, student loans      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 64,000,000 90,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | Asset-backed securities, collateralized loan obligations      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 2,905,000,000 3,453,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | Asset-backed securities, non-agency CMBS and RMBS      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 3,000,000 4,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | Asset-backed securities, other      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 91,000,000 91,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | Total asset-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 3,063,000,000 3,638,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | State and political subdivisions      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 25,000,000 56,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | Foreign exchange contracts      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative asset 14,218,000,000 29,422,000,000  
Derivative liability 14,097,000,000 28,904,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | Interest rate contracts      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative asset 31,000,000 23,000,000  
Derivative liability 5,000,000 1,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | Other derivative contracts      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative liability 159,000,000 219,000,000  
Pricing Methods with Significant Observable Market Inputs (Level 2)  | Other derivative contracts      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative asset 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3)      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Trading account assets 0 0  
Available-for-sale investment securities: 0 0  
Derivative asset 1,000,000 1,000,000  
Other 0 0  
Total assets carried at fair value 1,000,000 1,000,000  
Derivative liability 0 0  
Total liabilities carried at fair value 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | U.S. government securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Trading account assets 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | Non-U.S. government securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Trading account assets 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | Other      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Trading account assets 0 0  
Available-for-sale investment securities: 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | US Treasury and federal agencies, direct obligations      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | US Treasury and federal agencies, mortgage-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | Total U.S. Treasury and federal agencies      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | Non-U.S. debt securities, mortgage-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | Non-U.S. debt securities, asset-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | Non-U.S. sovereign, supranational and non-U.S. agency      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | Non-U.S. debt securities, other      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | Total non-U.S. debt securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | Asset-backed securities, student loans      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | Asset-backed securities, collateralized loan obligations      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | Asset-backed securities, non-agency CMBS and RMBS      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | Asset-backed securities, other      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | Total asset-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | State and political subdivisions      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Available-for-sale investment securities: 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | Foreign exchange contracts      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative asset 1,000,000 1,000,000  
Derivative liability 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | Interest rate contracts      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative asset 0 0  
Derivative liability 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | Other derivative contracts      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative liability 0 0  
Pricing Methods with Significant Unobservable Market Inputs (Level 3) | Other derivative contracts      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative asset $ 0 $ 0  
v3.25.4
Fair Value - Carrying Value and Estimated Fair Value of Financial Instruments (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Financial Assets:    
Cash and due from banks $ 4,433 $ 3,145
Interest-bearing deposits with banks 126,930 112,957
Securities purchased under resale agreements 6,812 6,679
Investment securities held-to-maturity 34,166 41,906
Other 854 767
Financial Liabilities:    
Non-interest-bearing 35,267 33,180
Interest-bearing - U.S. 168,079 166,483
Interest-bearing - non-U.S. 71,004 62,257
Securities sold under repurchase agreements 841 3,681
Other short-term borrowings 3,821 9,840
Quoted Market Prices in Active Markets (Level 1)    
Financial Assets:    
Other 22 20
Pricing Methods with Significant Observable Market Inputs (Level 2)     
Financial Assets:    
Net loans 92 14
Other 832 747
Pricing Methods with Significant Unobservable Market Inputs (Level 3)    
Financial Assets:    
Other 0 0
Carrying Value    
Financial Assets:    
Cash and due from banks 4,433 3,145
Interest-bearing deposits with banks 126,930 112,957
Securities purchased under resale agreements 6,812 6,679
Investment securities held-to-maturity 38,171 47,727
Net loans 46,589 43,026
Other 15,490 6,752
Financial Liabilities:    
Non-interest-bearing 35,267 33,180
Interest-bearing - U.S. 168,079 166,483
Interest-bearing - non-U.S. 71,004 62,257
Securities sold under repurchase agreements 841 3,681
Other short-term borrowings 3,821 9,840
Long-term debt 25,143 23,272
Other 15,490 6,752
Estimated Fair Value    
Financial Assets:    
Cash and due from banks 4,433 3,145
Interest-bearing deposits with banks 126,930 112,957
Securities purchased under resale agreements 6,812 6,679
Investment securities held-to-maturity 34,166 41,906
Net loans 46,417 42,839
Other 15,490 6,752
Financial Liabilities:    
Non-interest-bearing 35,267 33,180
Interest-bearing - U.S. 168,079 166,483
Interest-bearing - non-U.S. 71,004 62,257
Securities sold under repurchase agreements 841 3,681
Other short-term borrowings 3,821 9,840
Long-term debt 25,253 23,078
Other 15,490 6,752
Estimated Fair Value | Quoted Market Prices in Active Markets (Level 1)    
Financial Assets:    
Cash and due from banks 4,433 3,145
Interest-bearing deposits with banks 0 0
Securities purchased under resale agreements 0 0
Investment securities held-to-maturity 563 5,354
Net loans 0 0
Other 0 0
Financial Liabilities:    
Non-interest-bearing 0 0
Interest-bearing - U.S. 0 0
Interest-bearing - non-U.S. 0 0
Securities sold under repurchase agreements 0 0
Other short-term borrowings 0 0
Long-term debt 0 0
Other 0 0
Estimated Fair Value | Pricing Methods with Significant Observable Market Inputs (Level 2)     
Financial Assets:    
Cash and due from banks 0 0
Interest-bearing deposits with banks 126,930 112,957
Securities purchased under resale agreements 6,812 6,679
Investment securities held-to-maturity 33,603 36,552
Net loans 44,862 41,097
Other 15,490 6,752
Financial Liabilities:    
Non-interest-bearing 35,267 33,180
Interest-bearing - U.S. 168,079 166,483
Interest-bearing - non-U.S. 71,004 62,257
Securities sold under repurchase agreements 841 3,681
Other short-term borrowings 3,821 9,840
Long-term debt 25,130 22,882
Other 15,490 6,752
Estimated Fair Value | Pricing Methods with Significant Unobservable Market Inputs (Level 3)    
Financial Assets:    
Cash and due from banks 0 0
Interest-bearing deposits with banks 0 0
Securities purchased under resale agreements 0 0
Investment securities held-to-maturity 0 0
Net loans 1,555 1,742
Other 0 0
Financial Liabilities:    
Non-interest-bearing 0 0
Interest-bearing - U.S. 0 0
Interest-bearing - non-U.S. 0 0
Securities sold under repurchase agreements 0 0
Other short-term borrowings 0 0
Long-term debt 123 196
Other $ 0 $ 0
v3.25.4
Investment Securities - Schedule of Marketable Securities (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost $ 66,973,000,000 $ 59,006,000,000  
Available for sale, gross unrealized gains 278,000,000 172,000,000  
Available for sale, gross unrealized losses 97,000,000 283,000,000  
Available-for-sale investment securities: 67,154,000,000 58,895,000,000  
Held to maturity, amortized cost 38,171,000,000 47,727,000,000  
Investment securities held-to-maturity 34,166,000,000 41,906,000,000  
Debt securities, AFS, allowance 0 0  
Debt securities, HTM, allowance   0 $ 1,000,000
Total U.S. Treasury and federal agencies      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost 38,760,000,000 34,238,000,000  
Available for sale, gross unrealized gains 145,000,000 59,000,000  
Available for sale, gross unrealized losses 59,000,000 206,000,000  
Available-for-sale investment securities: 38,846,000,000 34,091,000,000  
Held to maturity, amortized cost 33,449,000,000 41,518,000,000  
Held to maturity, gross unrealized gains 9,000,000 2,000,000  
Held to maturity, gross unrealized losses 3,968,000,000 5,732,000,000  
Investment securities held-to-maturity 29,490,000,000 35,788,000,000  
US Treasury and federal agencies, direct obligations      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost 23,210,000,000 23,539,000,000  
Available for sale, gross unrealized gains 55,000,000 38,000,000  
Available for sale, gross unrealized losses 5,000,000 52,000,000  
Available-for-sale investment securities: 23,260,000,000 23,525,000,000  
Held to maturity, amortized cost 573,000,000 5,417,000,000  
Held to maturity, gross unrealized gains 0 0  
Held to maturity, gross unrealized losses 3,000,000 55,000,000  
Investment securities held-to-maturity 570,000,000 5,362,000,000  
US Treasury and federal agencies, mortgage-backed securities      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost 15,550,000,000 10,699,000,000  
Available for sale, gross unrealized gains 90,000,000 21,000,000  
Available for sale, gross unrealized losses 54,000,000 154,000,000  
Available-for-sale investment securities: 15,586,000,000 10,566,000,000  
Held to maturity, amortized cost 32,876,000,000 36,101,000,000  
Held to maturity, gross unrealized gains 9,000,000 2,000,000  
Held to maturity, gross unrealized losses 3,965,000,000 5,677,000,000  
Investment securities held-to-maturity 28,920,000,000 30,426,000,000  
Total non-U.S. debt securities      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost 25,131,000,000 21,032,000,000  
Available for sale, gross unrealized gains 126,000,000 102,000,000  
Available for sale, gross unrealized losses 37,000,000 76,000,000  
Available-for-sale investment securities: 25,220,000,000 21,058,000,000  
Held to maturity, amortized cost 2,461,000,000 3,673,000,000  
Held to maturity, gross unrealized gains 4,000,000 7,000,000  
Held to maturity, gross unrealized losses 31,000,000 73,000,000  
Investment securities held-to-maturity 2,434,000,000 3,607,000,000  
Non-U.S. debt securities, mortgage-backed securities      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost 2,573,000,000 2,426,000,000  
Available for sale, gross unrealized gains 6,000,000 5,000,000  
Available for sale, gross unrealized losses 1,000,000 1,000,000  
Available-for-sale investment securities: 2,578,000,000 2,430,000,000  
Non-U.S. debt securities, asset-backed securities      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost 2,081,000,000 1,865,000,000  
Available for sale, gross unrealized gains 5,000,000 5,000,000  
Available for sale, gross unrealized losses 1,000,000 2,000,000  
Available-for-sale investment securities: 2,085,000,000 1,868,000,000  
Non-U.S. sovereign, supranational and non-U.S. agency      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost 17,693,000,000 13,954,000,000  
Available for sale, gross unrealized gains 73,000,000 54,000,000  
Available for sale, gross unrealized losses 35,000,000 69,000,000  
Available-for-sale investment securities: 17,731,000,000 13,939,000,000  
Held to maturity, amortized cost 2,461,000,000 3,673,000,000  
Held to maturity, gross unrealized gains 4,000,000 7,000,000  
Held to maturity, gross unrealized losses 31,000,000 73,000,000  
Investment securities held-to-maturity 2,434,000,000 3,607,000,000  
Non-U.S. debt securities, other      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost 2,784,000,000 2,787,000,000  
Available for sale, gross unrealized gains 42,000,000 38,000,000  
Available for sale, gross unrealized losses 0 4,000,000  
Available-for-sale investment securities: 2,826,000,000 2,821,000,000  
Total asset-backed securities      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost 3,057,000,000 3,627,000,000  
Available for sale, gross unrealized gains 7,000,000 11,000,000  
Available for sale, gross unrealized losses 1,000,000 0  
Available-for-sale investment securities: 3,063,000,000 3,638,000,000  
Held to maturity, amortized cost 2,261,000,000 2,536,000,000  
Held to maturity, gross unrealized gains 5,000,000 4,000,000  
Held to maturity, gross unrealized losses 24,000,000 29,000,000  
Investment securities held-to-maturity 2,242,000,000 2,511,000,000  
Asset-backed securities, student loans      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost 63,000,000 89,000,000  
Available for sale, gross unrealized gains 1,000,000 1,000,000  
Available for sale, gross unrealized losses 0 0  
Available-for-sale investment securities: 64,000,000 90,000,000  
Held to maturity, amortized cost 2,261,000,000 2,536,000,000  
Held to maturity, gross unrealized gains 5,000,000 4,000,000  
Held to maturity, gross unrealized losses 24,000,000 29,000,000  
Investment securities held-to-maturity 2,242,000,000 2,511,000,000  
Asset-backed securities, collateralized loan obligations      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost 2,904,000,000 3,447,000,000  
Available for sale, gross unrealized gains 2,000,000 6,000,000  
Available for sale, gross unrealized losses 1,000,000 0  
Available-for-sale investment securities: 2,905,000,000 3,453,000,000  
Asset-backed securities, non-agency CMBS and RMBS      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost 0 1,000,000  
Available for sale, gross unrealized gains 3,000,000 3,000,000  
Available for sale, gross unrealized losses 0 0  
Available-for-sale investment securities: 3,000,000 4,000,000  
Asset-backed securities, other      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost 90,000,000 90,000,000  
Available for sale, gross unrealized gains 1,000,000 1,000,000  
Available for sale, gross unrealized losses 0 0  
Available-for-sale investment securities: 91,000,000 91,000,000  
State and political subdivisions      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost 25,000,000 56,000,000  
Available for sale, gross unrealized gains 0 0  
Available for sale, gross unrealized losses 0 0  
Available-for-sale investment securities: 25,000,000 56,000,000  
Other U.S. debt securities      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost 0 53,000,000  
Available for sale, gross unrealized gains 0 0  
Available for sale, gross unrealized losses 0 1,000,000  
Available-for-sale investment securities: 0 52,000,000  
Total held-to-maturity securities      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Held to maturity, amortized cost 38,171,000,000 47,727,000,000  
Held to maturity, gross unrealized gains 18,000,000 13,000,000  
Held to maturity, gross unrealized losses 4,023,000,000 5,834,000,000  
Investment securities held-to-maturity 34,166,000,000 41,906,000,000  
Debt securities, HTM, allowance 1,000,000 1,000,000  
Agency CMBS      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost 2,810,000,000 4,360,000,000  
Held to maturity, amortized cost 5,080,000,000.00 5,180,000,000  
Agency MBS      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost 12,780,000,000 6,200,000,000  
Non-US collateralized loan obligations      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost 770,000,000 700,000,000  
Non-U.S. debt securities, corporate bonds      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Available for sale, amortized cost $ 2,400,000,000 $ 2,540,000,000  
Federal family education loan program      
Available-For-Sale and Held-To-Maturity-Securities [Line Items]      
Federal government credit support guarantee, percentage minimum 97.00%    
v3.25.4
Investment Securities - Narrative (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
security
Dec. 31, 2024
USD ($)
security
Dec. 31, 2023
USD ($)
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]      
Gains (losses) from sales of available-for-sale securities, net $ 4,000,000 $ (79,000,000) $ (294,000,000)
Debt securities, AFS, allowance $ 0 0  
Percentage of investment portfolio considered investment grade 99.00%    
Pre-tax unrealized losses $ (4,120,000,000) $ (6,120,000,000)  
Number of securities in loss position | security 1,342 1,564  
ABS and municipal bonds      
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]      
Securities sold $ 16,000,000,000.00 $ 10,970,000,000 4,920,000,000
Gains (losses) from sales of available-for-sale securities, net 4,000,000 (79,000,000) $ (294,000,000)
Designated as pledged      
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]      
Pledged securities not separately reported $ 74,140,000,000 $ 86,700,000,000  
v3.25.4
Investment Securities - Schedule of Gross Pre-Tax Unrealized Losses on Investment Securities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Gross Pre-Tax Unrealized Losses On Investment Securities [Line Items]    
Available for sale, fair value less than 12 months $ 8,133 $ 18,678
Available for sale, gross unrealized losses less than 12 months 35 136
Available for sale, fair value 12 months or longer 8,265 10,412
Available for sale, gross unrealized losses 12 months or longer 62 147
Available for sale, fair value total 16,398 29,090
Available for sale, gross unrealized losses total 97 283
Total U.S. Treasury and federal agencies    
Gross Pre-Tax Unrealized Losses On Investment Securities [Line Items]    
Available for sale, fair value less than 12 months 2,023 11,855
Available for sale, gross unrealized losses less than 12 months 5 84
Available for sale, fair value 12 months or longer 6,081 6,795
Available for sale, gross unrealized losses 12 months or longer 54 122
Available for sale, fair value total 8,104 18,650
Available for sale, gross unrealized losses total 59 206
US Treasury and federal agencies, direct obligations    
Gross Pre-Tax Unrealized Losses On Investment Securities [Line Items]    
Available for sale, fair value less than 12 months 756 8,113
Available for sale, gross unrealized losses less than 12 months 2 25
Available for sale, fair value 12 months or longer 2,063 2,435
Available for sale, gross unrealized losses 12 months or longer 3 27
Available for sale, fair value total 2,819 10,548
Available for sale, gross unrealized losses total 5 52
US Treasury and federal agencies, mortgage-backed securities    
Gross Pre-Tax Unrealized Losses On Investment Securities [Line Items]    
Available for sale, fair value less than 12 months 1,267 3,742
Available for sale, gross unrealized losses less than 12 months 3 59
Available for sale, fair value 12 months or longer 4,018 4,360
Available for sale, gross unrealized losses 12 months or longer 51 95
Available for sale, fair value total 5,285 8,102
Available for sale, gross unrealized losses total 54 154
Total non-U.S. debt securities    
Gross Pre-Tax Unrealized Losses On Investment Securities [Line Items]    
Available for sale, fair value less than 12 months 5,042 6,124
Available for sale, gross unrealized losses less than 12 months 29 52
Available for sale, fair value 12 months or longer 2,184 3,542
Available for sale, gross unrealized losses 12 months or longer 8 24
Available for sale, fair value total 7,226 9,666
Available for sale, gross unrealized losses total 37 76
Non-U.S. debt securities, mortgage-backed securities    
Gross Pre-Tax Unrealized Losses On Investment Securities [Line Items]    
Available for sale, fair value less than 12 months 617 730
Available for sale, gross unrealized losses less than 12 months 1 1
Available for sale, fair value 12 months or longer 73 225
Available for sale, gross unrealized losses 12 months or longer 0 0
Available for sale, fair value total 690 955
Available for sale, gross unrealized losses total 1 1
Non-U.S. debt securities, asset-backed securities    
Gross Pre-Tax Unrealized Losses On Investment Securities [Line Items]    
Available for sale, fair value less than 12 months 425 387
Available for sale, gross unrealized losses less than 12 months 0 0
Available for sale, fair value 12 months or longer 168 506
Available for sale, gross unrealized losses 12 months or longer 1 2
Available for sale, fair value total 593 893
Available for sale, gross unrealized losses total 1 2
Non-U.S. sovereign, supranational and non-U.S. agency    
Gross Pre-Tax Unrealized Losses On Investment Securities [Line Items]    
Available for sale, fair value less than 12 months 3,871 4,695
Available for sale, gross unrealized losses less than 12 months 28 49
Available for sale, fair value 12 months or longer 1,943 2,695
Available for sale, gross unrealized losses 12 months or longer 7 20
Available for sale, fair value total 5,814 7,390
Available for sale, gross unrealized losses total 35 69
Non-U.S. debt securities, other    
Gross Pre-Tax Unrealized Losses On Investment Securities [Line Items]    
Available for sale, fair value less than 12 months 129 312
Available for sale, gross unrealized losses less than 12 months 0 2
Available for sale, fair value 12 months or longer 0 116
Available for sale, gross unrealized losses 12 months or longer 0 2
Available for sale, fair value total 129 428
Available for sale, gross unrealized losses total 0 4
Asset-backed securities, non-agency CMBS and RMBS    
Gross Pre-Tax Unrealized Losses On Investment Securities [Line Items]    
Available for sale, fair value less than 12 months   0
Available for sale, gross unrealized losses less than 12 months   0
Available for sale, fair value 12 months or longer   0
Available for sale, gross unrealized losses 12 months or longer   0
Available for sale, fair value total   0
Available for sale, gross unrealized losses total   0
Asset-backed securities, student loans    
Gross Pre-Tax Unrealized Losses On Investment Securities [Line Items]    
Available for sale, fair value less than 12 months   12
Available for sale, gross unrealized losses less than 12 months   0
Available for sale, fair value 12 months or longer   0
Available for sale, gross unrealized losses 12 months or longer   0
Available for sale, fair value total   12
Available for sale, gross unrealized losses total   0
Asset-backed securities, collateralized loan obligations    
Gross Pre-Tax Unrealized Losses On Investment Securities [Line Items]    
Available for sale, fair value less than 12 months 1,068 684
Available for sale, gross unrealized losses less than 12 months 1 0
Available for sale, fair value 12 months or longer 0 0
Available for sale, gross unrealized losses 12 months or longer 0 0
Available for sale, fair value total 1,068 684
Available for sale, gross unrealized losses total 1 0
Total asset-backed securities    
Gross Pre-Tax Unrealized Losses On Investment Securities [Line Items]    
Available for sale, fair value less than 12 months 1,068 696
Available for sale, gross unrealized losses less than 12 months 1 0
Available for sale, fair value 12 months or longer 0 0
Available for sale, gross unrealized losses 12 months or longer 0 0
Available for sale, fair value total 1,068 696
Available for sale, gross unrealized losses total $ 1 0
State and political subdivisions    
Gross Pre-Tax Unrealized Losses On Investment Securities [Line Items]    
Available for sale, fair value less than 12 months   0
Available for sale, gross unrealized losses less than 12 months   0
Available for sale, fair value 12 months or longer   26
Available for sale, gross unrealized losses 12 months or longer   0
Available for sale, fair value total   26
Available for sale, gross unrealized losses total   0
Other U.S. debt securities    
Gross Pre-Tax Unrealized Losses On Investment Securities [Line Items]    
Available for sale, fair value less than 12 months   3
Available for sale, gross unrealized losses less than 12 months   0
Available for sale, fair value 12 months or longer   49
Available for sale, gross unrealized losses 12 months or longer   1
Available for sale, fair value total   52
Available for sale, gross unrealized losses total   $ 1
v3.25.4
Investment Securities - Schedule of Contractual Maturities of Debt Securities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Contractual Maturities Of Debt Investment Securities [Line Items]    
Available for sale, under 1 year, amortized cost $ 11,875  
Available for sale, under 1 year, fair value 11,896  
Available for sale, 1 to 5 years, amortized cost 34,030  
Available for sale, 1 to 5 years, fair value 34,140  
Available for sale, 6 to 10 years, amortized cost 4,215  
Available for sale, 6 to 10 years, fair value 4,213  
Available for sale, over 10 years, amortized cost 16,853  
Available for sale, over 10 years, fair value 16,905  
Available for sale, amortized cost 66,973 $ 59,006
Available-for-sale investment securities: 67,154 58,895
Held to maturity, amortized cost 38,171 47,727
Investment securities held-to-maturity 34,166 41,906
Total U.S. Treasury and federal agencies    
Contractual Maturities Of Debt Investment Securities [Line Items]    
Available for sale, under 1 year, amortized cost 6,234  
Available for sale, under 1 year, fair value 6,241  
Available for sale, 1 to 5 years, amortized cost 18,695  
Available for sale, 1 to 5 years, fair value 18,736  
Available for sale, 6 to 10 years, amortized cost 1,093  
Available for sale, 6 to 10 years, fair value 1,084  
Available for sale, over 10 years, amortized cost 12,738  
Available for sale, over 10 years, fair value 12,785  
Available for sale, amortized cost 38,760 34,238
Available-for-sale investment securities: 38,846 34,091
Held to maturity, under 1 year, amortized cost 697  
Held to maturity, under 1 year, fair value 681  
Held to maturity, 1 to 5 years, amortized cost 4,027  
Held to maturity, 1 to 5 years, fair value 3,680  
Held to maturity, 6 to 10 years, amortized cost 868  
Held to maturity, 6 to 10 years, fair value 790  
Held to maturity, over 10 years, amortized cost 27,857  
Held to maturity, over 10 years, fair value 24,339  
Held to maturity, amortized cost 33,449 41,518
Investment securities held-to-maturity 29,490 35,788
US Treasury and federal agencies, direct obligations    
Contractual Maturities Of Debt Investment Securities [Line Items]    
Available for sale, under 1 year, amortized cost 6,153  
Available for sale, under 1 year, fair value 6,161  
Available for sale, 1 to 5 years, amortized cost 17,056  
Available for sale, 1 to 5 years, fair value 17,098  
Available for sale, 6 to 10 years, amortized cost 1  
Available for sale, 6 to 10 years, fair value 1  
Available for sale, over 10 years, amortized cost 0  
Available for sale, over 10 years, fair value 0  
Available for sale, amortized cost 23,210 23,539
Available-for-sale investment securities: 23,260 23,525
Held to maturity, under 1 year, amortized cost 463  
Held to maturity, under 1 year, fair value 461  
Held to maturity, 1 to 5 years, amortized cost 103  
Held to maturity, 1 to 5 years, fair value 102  
Held to maturity, 6 to 10 years, amortized cost 0  
Held to maturity, 6 to 10 years, fair value 0  
Held to maturity, over 10 years, amortized cost 7  
Held to maturity, over 10 years, fair value 7  
Held to maturity, amortized cost 573 5,417
Investment securities held-to-maturity 570 5,362
US Treasury and federal agencies, mortgage-backed securities    
Contractual Maturities Of Debt Investment Securities [Line Items]    
Available for sale, under 1 year, amortized cost 81  
Available for sale, under 1 year, fair value 80  
Available for sale, 1 to 5 years, amortized cost 1,639  
Available for sale, 1 to 5 years, fair value 1,638  
Available for sale, 6 to 10 years, amortized cost 1,092  
Available for sale, 6 to 10 years, fair value 1,083  
Available for sale, over 10 years, amortized cost 12,738  
Available for sale, over 10 years, fair value 12,785  
Available for sale, amortized cost 15,550 10,699
Available-for-sale investment securities: 15,586 10,566
Held to maturity, under 1 year, amortized cost 234  
Held to maturity, under 1 year, fair value 220  
Held to maturity, 1 to 5 years, amortized cost 3,924  
Held to maturity, 1 to 5 years, fair value 3,578  
Held to maturity, 6 to 10 years, amortized cost 868  
Held to maturity, 6 to 10 years, fair value 790  
Held to maturity, over 10 years, amortized cost 27,850  
Held to maturity, over 10 years, fair value 24,332  
Held to maturity, amortized cost 32,876 36,101
Investment securities held-to-maturity 28,920 30,426
Total non-U.S. debt securities    
Contractual Maturities Of Debt Investment Securities [Line Items]    
Available for sale, under 1 year, amortized cost 5,454  
Available for sale, under 1 year, fair value 5,468  
Available for sale, 1 to 5 years, amortized cost 15,229  
Available for sale, 1 to 5 years, fair value 15,297  
Available for sale, 6 to 10 years, amortized cost 1,772  
Available for sale, 6 to 10 years, fair value 1,775  
Available for sale, over 10 years, amortized cost 2,676  
Available for sale, over 10 years, fair value 2,680  
Available for sale, amortized cost 25,131 21,032
Available-for-sale investment securities: 25,220 21,058
Held to maturity, under 1 year, amortized cost 1,108  
Held to maturity, under 1 year, fair value 1,102  
Held to maturity, 1 to 5 years, amortized cost 1,259  
Held to maturity, 1 to 5 years, fair value 1,240  
Held to maturity, 6 to 10 years, amortized cost 94  
Held to maturity, 6 to 10 years, fair value 92  
Held to maturity, over 10 years, amortized cost 0  
Held to maturity, over 10 years, fair value 0  
Held to maturity, amortized cost 2,461 3,673
Investment securities held-to-maturity 2,434 3,607
Non-U.S. debt securities, mortgage-backed securities    
Contractual Maturities Of Debt Investment Securities [Line Items]    
Available for sale, under 1 year, amortized cost 179  
Available for sale, under 1 year, fair value 180  
Available for sale, 1 to 5 years, amortized cost 485  
Available for sale, 1 to 5 years, fair value 485  
Available for sale, 6 to 10 years, amortized cost 0  
Available for sale, 6 to 10 years, fair value 0  
Available for sale, over 10 years, amortized cost 1,909  
Available for sale, over 10 years, fair value 1,913  
Available for sale, amortized cost 2,573 2,426
Available-for-sale investment securities: 2,578 2,430
Non-U.S. debt securities, asset-backed securities    
Contractual Maturities Of Debt Investment Securities [Line Items]    
Available for sale, under 1 year, amortized cost 56  
Available for sale, under 1 year, fair value 56  
Available for sale, 1 to 5 years, amortized cost 329  
Available for sale, 1 to 5 years, fair value 330  
Available for sale, 6 to 10 years, amortized cost 929  
Available for sale, 6 to 10 years, fair value 932  
Available for sale, over 10 years, amortized cost 767  
Available for sale, over 10 years, fair value 767  
Available for sale, amortized cost 2,081 1,865
Available-for-sale investment securities: 2,085 1,868
Non-U.S. sovereign, supranational and non-U.S. agency    
Contractual Maturities Of Debt Investment Securities [Line Items]    
Available for sale, under 1 year, amortized cost 4,423  
Available for sale, under 1 year, fair value 4,432  
Available for sale, 1 to 5 years, amortized cost 12,457  
Available for sale, 1 to 5 years, fair value 12,486  
Available for sale, 6 to 10 years, amortized cost 813  
Available for sale, 6 to 10 years, fair value 813  
Available for sale, over 10 years, amortized cost 0  
Available for sale, over 10 years, fair value 0  
Available for sale, amortized cost 17,693 13,954
Available-for-sale investment securities: 17,731 13,939
Held to maturity, under 1 year, amortized cost 1,108  
Held to maturity, under 1 year, fair value 1,102  
Held to maturity, 1 to 5 years, amortized cost 1,259  
Held to maturity, 1 to 5 years, fair value 1,240  
Held to maturity, 6 to 10 years, amortized cost 94  
Held to maturity, 6 to 10 years, fair value 92  
Held to maturity, over 10 years, amortized cost 0  
Held to maturity, over 10 years, fair value 0  
Held to maturity, amortized cost 2,461 3,673
Investment securities held-to-maturity 2,434 3,607
Non-U.S. debt securities, other    
Contractual Maturities Of Debt Investment Securities [Line Items]    
Available for sale, under 1 year, amortized cost 796  
Available for sale, under 1 year, fair value 800  
Available for sale, 1 to 5 years, amortized cost 1,958  
Available for sale, 1 to 5 years, fair value 1,996  
Available for sale, 6 to 10 years, amortized cost 30  
Available for sale, 6 to 10 years, fair value 30  
Available for sale, over 10 years, amortized cost 0  
Available for sale, over 10 years, fair value 0  
Available for sale, amortized cost 2,784 2,787
Available-for-sale investment securities: 2,826 2,821
Total asset-backed securities    
Contractual Maturities Of Debt Investment Securities [Line Items]    
Available for sale, under 1 year, amortized cost 162  
Available for sale, under 1 year, fair value 162  
Available for sale, 1 to 5 years, amortized cost 106  
Available for sale, 1 to 5 years, fair value 107  
Available for sale, 6 to 10 years, amortized cost 1,350  
Available for sale, 6 to 10 years, fair value 1,354  
Available for sale, over 10 years, amortized cost 1,439  
Available for sale, over 10 years, fair value 1,440  
Available for sale, amortized cost 3,057 3,627
Available-for-sale investment securities: 3,063 3,638
Held to maturity, under 1 year, amortized cost 127  
Held to maturity, under 1 year, fair value 125  
Held to maturity, 1 to 5 years, amortized cost 424  
Held to maturity, 1 to 5 years, fair value 423  
Held to maturity, 6 to 10 years, amortized cost 413  
Held to maturity, 6 to 10 years, fair value 414  
Held to maturity, over 10 years, amortized cost 1,297  
Held to maturity, over 10 years, fair value 1,280  
Held to maturity, amortized cost 2,261 2,536
Investment securities held-to-maturity 2,242 2,511
Asset-backed securities, student loans    
Contractual Maturities Of Debt Investment Securities [Line Items]    
Available for sale, under 1 year, amortized cost 6  
Available for sale, under 1 year, fair value 6  
Available for sale, 1 to 5 years, amortized cost 0  
Available for sale, 1 to 5 years, fair value 0  
Available for sale, 6 to 10 years, amortized cost 9  
Available for sale, 6 to 10 years, fair value 10  
Available for sale, over 10 years, amortized cost 48  
Available for sale, over 10 years, fair value 48  
Available for sale, amortized cost 63 89
Available-for-sale investment securities: 64 90
Held to maturity, under 1 year, amortized cost 127  
Held to maturity, under 1 year, fair value 125  
Held to maturity, 1 to 5 years, amortized cost 424  
Held to maturity, 1 to 5 years, fair value 423  
Held to maturity, 6 to 10 years, amortized cost 413  
Held to maturity, 6 to 10 years, fair value 414  
Held to maturity, over 10 years, amortized cost 1,297  
Held to maturity, over 10 years, fair value 1,280  
Held to maturity, amortized cost 2,261 2,536
Investment securities held-to-maturity 2,242 2,511
Asset-backed securities, collateralized loan obligations    
Contractual Maturities Of Debt Investment Securities [Line Items]    
Available for sale, under 1 year, amortized cost 156  
Available for sale, under 1 year, fair value 156  
Available for sale, 1 to 5 years, amortized cost 16  
Available for sale, 1 to 5 years, fair value 16  
Available for sale, 6 to 10 years, amortized cost 1,341  
Available for sale, 6 to 10 years, fair value 1,341  
Available for sale, over 10 years, amortized cost 1,391  
Available for sale, over 10 years, fair value 1,392  
Available for sale, amortized cost 2,904 3,447
Available-for-sale investment securities: 2,905 3,453
Asset-backed securities, non-agency CMBS and RMBS    
Contractual Maturities Of Debt Investment Securities [Line Items]    
Available for sale, under 1 year, amortized cost 0  
Available for sale, under 1 year, fair value 0  
Available for sale, 1 to 5 years, amortized cost 0  
Available for sale, 1 to 5 years, fair value 0  
Available for sale, 6 to 10 years, amortized cost 0  
Available for sale, 6 to 10 years, fair value 3  
Available for sale, over 10 years, amortized cost 0  
Available for sale, over 10 years, fair value 0  
Available for sale, amortized cost 0 1
Available-for-sale investment securities: 3 4
Asset-backed securities, other    
Contractual Maturities Of Debt Investment Securities [Line Items]    
Available for sale, under 1 year, amortized cost 0  
Available for sale, under 1 year, fair value 0  
Available for sale, 1 to 5 years, amortized cost 90  
Available for sale, 1 to 5 years, fair value 91  
Available for sale, 6 to 10 years, amortized cost 0  
Available for sale, 6 to 10 years, fair value 0  
Available for sale, over 10 years, amortized cost 0  
Available for sale, over 10 years, fair value 0  
Available for sale, amortized cost 90 90
Available-for-sale investment securities: 91 91
State and political subdivisions    
Contractual Maturities Of Debt Investment Securities [Line Items]    
Available for sale, under 1 year, amortized cost 25  
Available for sale, under 1 year, fair value 25  
Available for sale, 1 to 5 years, amortized cost 0  
Available for sale, 1 to 5 years, fair value 0  
Available for sale, 6 to 10 years, amortized cost 0  
Available for sale, 6 to 10 years, fair value 0  
Available for sale, over 10 years, amortized cost 0  
Available for sale, over 10 years, fair value 0  
Available for sale, amortized cost 25 56
Available-for-sale investment securities: 25 $ 56
Total HTM and Collateralized Obligations    
Contractual Maturities Of Debt Investment Securities [Line Items]    
Held to maturity, under 1 year, amortized cost 1,932  
Held to maturity, under 1 year, fair value 1,908  
Held to maturity, 1 to 5 years, amortized cost 5,710  
Held to maturity, 1 to 5 years, fair value 5,343  
Held to maturity, 6 to 10 years, amortized cost 1,375  
Held to maturity, 6 to 10 years, fair value 1,296  
Held to maturity, over 10 years, amortized cost 29,154  
Held to maturity, over 10 years, fair value 25,619  
Held to maturity, amortized cost 38,171  
Investment securities held-to-maturity $ 34,166  
v3.25.4
Loans and Allowance for Credit Losses - Net Loans (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans, gross $ 46,782 $ 43,200
Allowance for credit losses (193) (174)
Loans, net of allowance for credit losses 46,589 43,026
Floating rate loans 42,370  
Fixed rate loans 2,450  
Foreign    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans, gross 18,780 16,790
Subscription finance    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans, gross 13,138 11,544
Fund finance    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans, gross 10,916 10,244
Allowance for credit losses   (2)
Real money funds    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans, gross 8,300 7,900
Business development companies    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans, gross 1,750 1,440
Collateralized loan obligations    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans, gross 12,809 9,488
Broadly syndicated CLOs    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans, gross 10,300 8,390
Middle market CLOs    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans, gross 2,510 1,100
Commercial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans, gross 2,851 3,881
Commercial real estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans, gross 2,471 2,842
Overdrafts    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans, gross 1,962 1,980
Other    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans, gross 2,635 3,221
Allowance for credit losses   (1)
Securities Finance Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans, gross 2,520 3,010
Municipal Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans, gross $ 120 $ 210
v3.25.4
Loans and Allowance for Credit Losses - Narrative (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2025
USD ($)
loan
Dec. 31, 2025
USD ($)
loan
loanSegment
Dec. 31, 2024
USD ($)
loan
Dec. 31, 2023
USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]        
Number of loan segments | loanSegment   2    
Loans $ 46,589 $ 46,589 $ 43,026  
Number of loans on non-accrual status | loan 4 4 2  
Non-accrual loans $ 258 $ 258 $ 191  
Sale of loans   1,068 246 $ 506
Provision for credit losses 59 59 75 46
Allowance for credit losses $ 193 $ 193 174  
Investment grade        
Financing Receivable, Credit Quality Indicator [Line Items]        
Percent or loans 91.00% 91.00%    
Sub-investment grade        
Financing Receivable, Credit Quality Indicator [Line Items]        
Percent or loans 8.00% 8.00%    
Sub-investment grade | External credit rating, or equivalent, of “BB” or “B”        
Financing Receivable, Credit Quality Indicator [Line Items]        
Percent or loans 87.00% 87.00%    
Commercial and Financial        
Financing Receivable, Credit Quality Indicator [Line Items]        
Loans no longer meeting similar risk of collective pool | loan 3 3    
Loans no longer meeting similar risk of collective pool $ 98 $ 98    
Commercial Real Estate        
Financing Receivable, Credit Quality Indicator [Line Items]        
Loans no longer meeting similar risk of collective pool | loan 4 4    
Loans no longer meeting similar risk of collective pool $ 296 $ 296    
Loans No Longer Meeting Similar Risk of Collective Pool        
Financing Receivable, Credit Quality Indicator [Line Items]        
Allowance for credit losses 120 120    
Collateralized loan obligations        
Financing Receivable, Credit Quality Indicator [Line Items]        
Payments to acquire loans receivable   5,570    
Broadly syndicated CLOs        
Financing Receivable, Credit Quality Indicator [Line Items]        
Payments to acquire loans receivable   5,010    
Middle market CLOs        
Financing Receivable, Credit Quality Indicator [Line Items]        
Payments to acquire loans receivable   560    
Commercial        
Financing Receivable, Credit Quality Indicator [Line Items]        
Sale of loans   1,160    
Provision for credit losses   (15)    
Commercial | Commercial and Financial        
Financing Receivable, Credit Quality Indicator [Line Items]        
Provision for credit losses   16 13  
Allowance for credit losses $ 69 $ 69 $ 68 $ 72
Non-accrual status, more than 90 days        
Financing Receivable, Credit Quality Indicator [Line Items]        
Number of loans on non-accrual status | loan 0 0 1  
Non-accrual loans     $ 101  
Pledged as collateral        
Financing Receivable, Credit Quality Indicator [Line Items]        
Loans $ 15,110 $ 15,110 $ 13,900  
v3.25.4
Loans and Allowance for Credit Losses - Investments by Credit Quality (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Credit Quality Indicator [Line Items]    
Total $ 46,690 $ 43,186
Loans held-for-sale 92 14
Overdrafts    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 1,960 1,980
Investment grade    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 42,256 37,800
Investment grade | Overdrafts    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 1,900  
Sub-investment grade    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 3,798 4,687
Sub-investment grade | Overdrafts    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 60  
Special mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 242 249
Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 213 259
Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 181 191
Commercial and Financial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 44,219 40,344
Commercial and Financial | Investment grade    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 40,854 35,831
Commercial and Financial | Sub-investment grade    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 3,157 4,278
Commercial and Financial | Special mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 110 187
Commercial and Financial | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 48 48
Commercial and Financial | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 50 0
Commercial Real Estate    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 2,471 2,842
Commercial Real Estate | Investment grade    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 1,402 1,969
Commercial Real Estate | Sub-investment grade    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 641 409
Commercial Real Estate | Special mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 132 62
Commercial Real Estate | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 165 211
Commercial Real Estate | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total $ 131 $ 191
v3.25.4
Loans and Allowance for Credit Losses - Amortized Cost Basis (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one $ 9,876 $ 8,718
Year two 5,566 2,627
Year three 1,024 1,985
Year four 898 3,319
Year five 1,835 333
Prior 1,691 1,897
Revolving Loans 25,800 24,307
Loans, gross, excluding loans classified as held-for-sale 46,690 43,186
Accrued interest receivable 338 327
Loans held-for-sale 92 14
Investment grade    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans, gross, excluding loans classified as held-for-sale 42,256 37,800
Sub-investment grade    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans, gross, excluding loans classified as held-for-sale 3,798 4,687
Special mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans, gross, excluding loans classified as held-for-sale 242 249
Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans, gross, excluding loans classified as held-for-sale 213 259
Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans, gross, excluding loans classified as held-for-sale 181 191
Commercial and Financial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one 9,810 8,677
Year two 5,525 2,411
Year three 811 1,477
Year four 550 2,972
Year five 1,486 105
Prior 237 395
Revolving Loans 25,800 24,307
Loans, gross, excluding loans classified as held-for-sale 44,219 40,344
Commercial and Financial | Investment grade    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one 8,896 6,189
Year two 4,153 2,019
Year three 692 1,241
Year four 504 2,234
Year five 1,313 6
Prior 119 197
Revolving Loans 25,177 23,945
Loans, gross, excluding loans classified as held-for-sale 40,854 35,831
Commercial and Financial | Sub-investment grade    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one 911 2,441
Year two 1,224 347
Year three 109 198
Year four 46 633
Year five 133 99
Prior 111 198
Revolving Loans 623 362
Loans, gross, excluding loans classified as held-for-sale 3,157 4,278
Commercial and Financial | Special mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one 3 47
Year two 100 45
Year three 0 26
Year four 0 69
Year five 0 0
Prior 7 0
Revolving Loans 0 0
Loans, gross, excluding loans classified as held-for-sale 110 187
Commercial and Financial | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one 0 0
Year two 48 0
Year three 0 12
Year four 0 36
Year five 0 0
Prior 0 0
Revolving Loans 0 0
Loans, gross, excluding loans classified as held-for-sale 48 48
Commercial and Financial | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one 0  
Year two 0  
Year three 10  
Year four 0  
Year five 40  
Prior 0  
Revolving Loans 0  
Loans, gross, excluding loans classified as held-for-sale 50 0
Commercial Real Estate    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one 66 41
Year two 41 216
Year three 213 508
Year four 348 347
Year five 349 228
Prior 1,454 1,502
Revolving Loans 0 0
Loans, gross, excluding loans classified as held-for-sale 2,471 2,842
Commercial Real Estate | Investment grade    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one 0 41
Year two 41 63
Year three 166 488
Year four 328 278
Year five 318 128
Prior 549 971
Revolving Loans 0 0
Loans, gross, excluding loans classified as held-for-sale 1,402 1,969
Commercial Real Estate | Sub-investment grade    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one 0 0
Year two 0 153
Year three 47 20
Year four 0 69
Year five 31 100
Prior 563 67
Revolving Loans 0 0
Loans, gross, excluding loans classified as held-for-sale 641 409
Commercial Real Estate | Special mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one 66 0
Year two 0 0
Year three 0 0
Year four 20 0
Year five 0 0
Prior 46 62
Revolving Loans 0 0
Loans, gross, excluding loans classified as held-for-sale 132 62
Commercial Real Estate | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one 0 0
Year two 0 0
Year three 0 0
Year four 0 0
Year five 0 0
Prior 165 211
Revolving Loans 0 0
Loans, gross, excluding loans classified as held-for-sale 165 211
Commercial Real Estate | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one 0 0
Year two 0 0
Year three 0 0
Year four 0 0
Year five 0 0
Prior 131 191
Revolving Loans 0 0
Loans, gross, excluding loans classified as held-for-sale $ 131 $ 191
v3.25.4
Loans and Allowance for Credit Losses - Activity in the Allowance for Credit Losses for Loans Held for Investment (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance   $ 174    
Provision for credit losses $ 59 59 $ 75 $ 46
Ending balance 193 193 174  
Held-to-Maturity Securities        
Beginning balance   0 1  
Provision     (1)  
Charge-offs     0  
Ending balance     0 1
Off-Balance Sheet Commitments        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance   9 14  
Provision for credit losses   (1) (5)  
Charge-offs   0 0  
Ending balance 8 8 9 14
All Other        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance   0    
Provision for credit losses   2    
Charge-offs   0    
Ending balance 2 2 0  
Total Credit Reserve        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance   183 150  
Provision for credit losses   59 75  
Charge-offs   (39) (42)  
Ending balance 203 203 183 150
Commercial        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Provision for credit losses   (15)    
Other        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance   1    
Ending balance     1  
Subscription finance and fund finance loans        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Ending balance 2 2    
Fund finance        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance   2    
Ending balance     2  
Commercial and Financial | Commercial        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance   68 72  
Provision for credit losses   16 13  
Charge-offs   (15) (17)  
Ending balance 69 69 68 72
Commercial and Financial | Other        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance   4 3  
Provision for credit losses   1 1  
Charge-offs   0 0  
Ending balance 5 5 4 3
Commercial Real Estate | Commercial real estate        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance   102 60  
Provision for credit losses   41 67  
Charge-offs   (24) (25)  
Ending balance $ 119 $ 119 $ 102 $ 60
v3.25.4
Goodwill and Other Intangible Assets - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]      
Goodwill and intangible asset impairment $ 0 $ 0 $ 0
Amortization of other intangible assets $ 223,000,000 $ 230,000,000 $ 239,000,000
Client relationships | Minimum      
Finite-Lived Intangible Assets [Line Items]      
Useful life of intangible assets 5 years    
Client relationships | Maximum      
Finite-Lived Intangible Assets [Line Items]      
Useful life of intangible assets 20 years    
Technology | Minimum      
Finite-Lived Intangible Assets [Line Items]      
Useful life of intangible assets 3 years    
Technology | Maximum      
Finite-Lived Intangible Assets [Line Items]      
Useful life of intangible assets 10 years    
Core deposits | Minimum      
Finite-Lived Intangible Assets [Line Items]      
Useful life of intangible assets 16 years    
Core deposits | Maximum      
Finite-Lived Intangible Assets [Line Items]      
Useful life of intangible assets 22 years    
v3.25.4
Goodwill and Other Intangible Assets - Changes in the Carrying Amount of Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Goodwill [Roll Forward]    
Beginning balance $ 7,691 $ 7,611
Acquisitions 243 189
Foreign currency translation 225 (109)
Ending balance 8,159 7,691
Investment
Servicing    
Goodwill [Roll Forward]    
Beginning balance 7,428 7,346
Acquisitions 243 189
Foreign currency translation 220 (107)
Ending balance 7,891 7,428
Investment Management    
Goodwill [Roll Forward]    
Beginning balance 263 265
Acquisitions 0 0
Foreign currency translation 5 (2)
Ending balance $ 268 $ 263
v3.25.4
Goodwill and Other Intangible Assets - Changes in the Carrying Amount of Other Intangible Assets (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Finite-lived Intangible Assets [Roll Forward]      
Beginning balance $ 1,089 $ 1,320  
Acquisitions 34 20  
Amortization (223) (230) $ (239)
Foreign currency translation 35 (21)  
Ending balance 935 1,089 1,320
Investment
Servicing      
Finite-lived Intangible Assets [Roll Forward]      
Beginning balance 1,063 1,293  
Acquisitions 34 7  
Amortization (216) (216)  
Foreign currency translation 35 (21)  
Ending balance 916 1,063 1,293
Investment Management      
Finite-lived Intangible Assets [Roll Forward]      
Beginning balance 26 27  
Acquisitions 0 13  
Amortization (7) (14)  
Foreign currency translation 0 0  
Ending balance $ 19 $ 26 $ 27
v3.25.4
Goodwill and Other Intangible Assets - Gross Carrying Amount, Accumulated Amortization and Net Carrying Amount of Other Intangible Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount $ 4,060 $ 3,879  
Accumulated Amortization (3,125) (2,790)  
Net Carrying Amount 935 1,089 $ 1,320
Client relationships      
Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount 2,831 2,706  
Accumulated Amortization (2,144) (1,919)  
Net Carrying Amount 687 787  
Technology      
Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount 405 401  
Accumulated Amortization (293) (252)  
Net Carrying Amount 112 149  
Core deposits      
Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount 703 677  
Accumulated Amortization (597) (540)  
Net Carrying Amount 106 137  
Other      
Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount 121 95  
Accumulated Amortization (91) (79)  
Net Carrying Amount $ 30 $ 16  
v3.25.4
Goodwill and Other Intangible Assets - Amortization Expense (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Years Ended December 31,  
2026 $ 222
2027 185
2028 132
2029 68
2030 $ 56
v3.25.4
Other Assets (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Other Assets [Abstract]    
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Total Total
Securities borrowed $ 38,233,000,000 $ 37,451,000,000
Derivative instruments, net 4,155,000,000 11,183,000,000
Bank-owned life insurance 3,965,000,000 3,856,000,000
Investments in joint ventures and other unconsolidated entities 3,753,000,000 3,317,000,000
Collateral, net 1,603,000,000 3,216,000,000
Right-of-use assets 865,000,000 818,000,000
Prepaid expenses 837,000,000 738,000,000
Deferred tax assets, net of valuation allowance 627,000,000 701,000,000
Accounts receivable 621,000,000 504,000,000
Income taxes receivable 256,000,000 144,000,000
Receivable for securities settlement 102,000,000 57,000,000
Other 3,451,000,000 2,529,000,000
Total 58,468,000,000 64,514,000,000
Equity securities without readily determinable fair value 585,000,000 341,000,000
Impairment 0  
Advances to affiliate 1,570,000,000 1,040,000,000.00
Capitalized costs to fulfil contracts with customers $ 1,190,000,000 $ 920,000,000
v3.25.4
Deposits (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Loans and Leases Receivable Disclosure [Line Items]    
Time deposits $ 2,670 $ 5,780
Time deposits in amounts of $250,000 or more 2,670 5,770
Time deposit liability, uninsured, maturity, three months or less 1,160  
Time deposit liability, uninsured, maturity, over three months through six months 1,510  
Demand deposit overdrafts 1,960 1,980
Foreign    
Loans and Leases Receivable Disclosure [Line Items]    
Time deposits $ 250 $ 80
v3.25.4
Short-Term Borrowings - Narrative (Details)
Dec. 31, 2025
USD ($)
Dec. 31, 2025
CAD ($)
Dec. 31, 2024
USD ($)
Short-term Debt [Line Items]      
Weighted-average interest rate as of year-end 4.49% 4.49% 5.03%
Average balance of securities purchased under agreement to resell and securities sold under agreement to repurchase $ 242,730,000,000   $ 191,260,000,000
Maximum borrowing on line of credit 1,020,000,000.00 $ 1,400,000,000  
Balance on line of credit 0   $ 0
Estimated Fair Value      
Short-term Debt [Line Items]      
Obligations to repurchase securities sold $ 1,070,000,000.00    
v3.25.4
Short-Term Borrowings - Outstanding and Weighted-Average Interest Rates of Short-Term Borrowings (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Short-term Debt [Line Items]    
Weighted-average interest rate as of year-end 4.49% 5.03%
Securities Sold Under Repurchase Agreements    
Short-term Debt [Line Items]    
Balance as of December 31 $ 841 $ 3,681
Average outstanding during the year $ 2,198 $ 3,163
Weighted-average interest rate as of year-end 0.73% 5.62%
Weighted-average interest rate during the year 4.32% 4.93%
Other    
Short-term Debt [Line Items]    
Balance as of December 31 $ 3,750 $ 9,815
Average outstanding during the year $ 9,396 $ 11,128
Weighted-average interest rate as of year-end 4.33% 4.77%
Weighted-average interest rate during the year 4.62% 5.19%
v3.25.4
Short-Term Borrowings - Overnight Maturity (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Estimated Fair Value  
Short-term Debt [Line Items]  
Total $ 1,070
Overnight maturity | Estimated Fair Value  
Short-term Debt [Line Items]  
Total 1,072
Securities Sold | Overnight maturity | Carrying Value  
Short-term Debt [Line Items]  
Total 1,058
Repurchase Agreements | Overnight maturity | Carrying Value  
Short-term Debt [Line Items]  
Total $ 841
v3.25.4
Long-Term Debt - Schedule of Long Term Debt (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Long-term finance leases and equipment financing $ 89 $ 67
Total long-term debt 25,143 23,272
Fair Value Hedges    
Debt Instrument [Line Items]    
Long-term debt $ 3 220
Parent Company and Non-banking Subsidiaries | Senior notes | 4.536%, Senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 4.536%  
Long-term debt $ 1,346 0
Parent Company and Non-banking Subsidiaries | Senior notes | 4.33%, Senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 4.33%  
Long-term debt $ 1,208 1,189
Parent Company and Non-banking Subsidiaries | Senior notes | 5.272%, Senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 5.272%  
Long-term debt $ 1,204 1,203
Parent Company and Non-banking Subsidiaries | Senior notes | 4.993%, Senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 4.993%  
Long-term debt $ 1,004 993
Parent Company and Non-banking Subsidiaries | Senior notes | 4.834%, Senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 4.834%  
Long-term debt $ 1,002 0
Parent Company and Non-banking Subsidiaries | Senior notes | 2.4%, Senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 2.40%  
Long-term debt $ 777 784
Parent Company and Non-banking Subsidiaries | Senior notes | 2.65%, Senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 2.65%  
Long-term debt $ 745 728
Parent Company and Non-banking Subsidiaries | Senior notes | 4.729%, Senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 4.729%  
Long-term debt $ 647 0
Parent Company and Non-banking Subsidiaries | Senior notes | Floating-rate, Senior notes due August 3, 2026    
Debt Instrument [Line Items]    
Long-term debt 300 299
Parent Company and Non-banking Subsidiaries | Senior notes | Floating-rate, Senior notes Due October 22, 2027    
Debt Instrument [Line Items]    
Long-term debt 299 299
Parent Company and Non-banking Subsidiaries | Senior notes | Floating-rate, Senior notes 3    
Debt Instrument [Line Items]    
Long-term debt $ 299 0
Parent Company and Non-banking Subsidiaries | Senior notes | 7.35%, Senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 7.35%  
Long-term debt $ 150 150
Parent Company and Non-banking Subsidiaries | Senior notes | 3.55%, Senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 3.55%  
Long-term debt $ 0 1,285
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 5.684%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 5.684%  
Long-term debt $ 1,009 986
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 4.53%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 4.53%  
Long-term debt $ 1,007 989
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 5.159%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 5.159%  
Long-term debt $ 996 995
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 4.784%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 4.784%  
Long-term debt $ 973 0
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 4.675,% Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 4.675%  
Long-term debt $ 813 789
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 5.146%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 5.146%  
Long-term debt $ 746 0
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 4.821%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 4.821%  
Long-term debt $ 728 702
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 4.543%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 4.543%  
Long-term debt $ 699 0
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 4.164%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 4.164%  
Long-term debt $ 695 665
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 2.203%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 2.203%  
Long-term debt $ 634 619
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 4.141%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 4.141%  
Long-term debt $ 536 535
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 5.82%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 5.82%  
Long-term debt $ 503 495
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 3.152%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 3.152%  
Long-term debt $ 499 498
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 4.421%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 4.421%  
Long-term debt $ 498 498
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 1.684%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 1.684%  
Long-term debt $ 498 497
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 2.623%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 2.623%  
Long-term debt $ 490 465
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 5.104%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 5.104%  
Long-term debt $ 0 999
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 4.857%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 4.857%  
Long-term debt $ 0 499
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 5.751%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 5.751%  
Long-term debt $ 0 498
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 2.901%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 2.901%  
Long-term debt $ 0 497
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 1.746%, Fixed-to-floating rate senior notes    
Debt Instrument [Line Items]    
Interest rate on debt 1.746%  
Long-term debt $ 0 299
Parent Company and Non-banking Subsidiaries | Senior Subordinated Notes [Member] | 2.2%, Senior subordinated notes    
Debt Instrument [Line Items]    
Interest rate on debt 2.20%  
Long-term debt $ 846 845
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 3.031%, Fixed-to-floating rate senior subordinated notes    
Debt Instrument [Line Items]    
Interest rate on debt 3.031%  
Long-term debt $ 518 523
Parent Company and Non-banking Subsidiaries | Fixed-to-floating rate senior notes | 6.123%, Fixed-to-floating rate senior subordinated notes    
Debt Instrument [Line Items]    
Interest rate on debt 6.123%  
Long-term debt $ 507 492
Parent Company and Non-banking Subsidiaries | Junior Subordinated Debt [Member] | Floating-rate, Junior subordinated debentures Due June 15, 2047    
Debt Instrument [Line Items]    
Long-term debt 500 500
Parent Company and Non-banking Subsidiaries | Junior Subordinated Debt [Member] | Floating-rate, Junior subordinated debentures due May 15, 2028    
Debt Instrument [Line Items]    
Long-term debt 100 100
State Street Bank    
Debt Instrument [Line Items]    
Long-term finance leases and equipment financing $ 122 116
State Street Bank | Senior notes | 4.594% Senior Notes Due 2026    
Debt Instrument [Line Items]    
Interest rate on debt 4.594%  
Long-term debt $ 1,148 1,146
State Street Bank | Senior notes | 4.782% Senior Notes Due 2029    
Debt Instrument [Line Items]    
Interest rate on debt 4.782%  
Long-term debt $ 797 796
State Street Bank | Senior notes | Floating Rate Senior Notes Due 2026    
Debt Instrument [Line Items]    
Long-term debt $ 300 $ 299
v3.25.4
Long-Term Debt - Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Debt Disclosure [Abstract]    
Finance lease liability $ 106 $ 79
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] Long-term debt Long-term debt
v3.25.4
Derivative Financial Instruments - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Derivative [Line Items]        
Reclassified terminated cash flow hedges net losses   $ 31    
Oci Cash Flow Hedge Reclassification For Discontinuance, Statement Of Income Or Comprehensive Income, Extensible Enumeration Not Disclosed Flag     reclassified from AOCI  
Cash flow hedge gain (loss) to be reclassified within twelve months     $ 42  
Maximum length of time hedged in cash flow hedge     5 years  
Cash flow hedge loss to be reclassified within twelve months related to terminated hedges   (48) $ (48)  
Fair value of derivative liabilities   14,261 14,261 $ 29,124
Forecast        
Derivative [Line Items]        
Reclassified terminated cash flow hedges net losses $ 29      
Interest rate swap | Fair Value Hedges        
Derivative [Line Items]        
Notional amount of derivative instruments   36,120 36,120 $ 31,120
Credit swap agreements        
Derivative [Line Items]        
Fair value of derivative liabilities   3,490 3,490  
Cash collateral provided for derivative instruments   1,840 1,840  
Maximum additional amount of payments related to termination events   $ 1,650 $ 1,650  
v3.25.4
Derivative Financial Instruments - Schedule of Outstanding Hedges: (Notional Amount) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Derivatives not designated as hedging instruments | Interest rate contracts | Futures    
Derivative Instruments, Gain (Loss) [Line Items]    
Notional amount of derivative instruments $ 97,035 $ 47,222
Derivatives not designated as hedging instruments | Foreign exchange contracts | Futures    
Derivative Instruments, Gain (Loss) [Line Items]    
Notional amount of derivative instruments 472 359
Derivatives not designated as hedging instruments | Foreign exchange contracts | Forward, swap and spot    
Derivative Instruments, Gain (Loss) [Line Items]    
Notional amount of derivative instruments 2,768,458 2,612,945
Derivatives not designated as hedging instruments | Foreign exchange contracts | Options purchased    
Derivative Instruments, Gain (Loss) [Line Items]    
Notional amount of derivative instruments 436 466
Derivatives not designated as hedging instruments | Foreign exchange contracts | Options written    
Derivative Instruments, Gain (Loss) [Line Items]    
Notional amount of derivative instruments 110 145
Derivatives not designated as hedging instruments | Other derivative contracts | Futures    
Derivative Instruments, Gain (Loss) [Line Items]    
Notional amount of derivative instruments 159 155
Derivatives not designated as hedging instruments | Other derivative contracts | Stable value contracts    
Derivative Instruments, Gain (Loss) [Line Items]    
Notional amount of derivative instruments 12,271 25,271
Derivatives not designated as hedging instruments | Other derivative contracts | Deferred value awards    
Derivative Instruments, Gain (Loss) [Line Items]    
Notional amount of derivative instruments 222 253
Derivatives designated as hedging instruments | Interest rate contracts | Swap agreements    
Derivative Instruments, Gain (Loss) [Line Items]    
Notional amount of derivative instruments 42,708 33,302
Derivatives designated as hedging instruments | Foreign exchange contracts | Forward and swap    
Derivative Instruments, Gain (Loss) [Line Items]    
Notional amount of derivative instruments $ 12,350 $ 10,260
v3.25.4
Derivative Financial Instruments - Schedule of the Fair Values of Derivative Financial Instruments (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Derivatives, Fair Value [Line Items]    
Fair value of derivative assets $ 14,259 $ 29,468
Fair value of derivative liabilities $ 14,261 29,124
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accrued expenses and other liabilities  
Foreign exchange contracts    
Derivatives, Fair Value [Line Items]    
Fair value of derivative assets $ 14,224 29,439
Fair value of derivative liabilities 14,097 28,904
Other derivative contracts    
Derivatives, Fair Value [Line Items]    
Fair value of derivative assets 1 1
Interest rate contracts    
Derivatives, Fair Value [Line Items]    
Fair value of derivative assets 34 28
Fair value of derivative liabilities 5 1
Derivatives not designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Fair value of derivative assets 14,201 29,117
Fair value of derivative liabilities 14,152 29,123
Derivatives not designated as hedging instruments | Foreign exchange contracts    
Derivatives, Fair Value [Line Items]    
Fair value of derivative assets 14,200 29,116
Fair value of derivative liabilities 13,993 28,904
Derivatives not designated as hedging instruments | Other derivative contracts    
Derivatives, Fair Value [Line Items]    
Fair value of derivative assets 1 1
Fair value of derivative liabilities 159 219
Derivatives designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Fair value of derivative assets 58 351
Fair value of derivative liabilities 109 1
Derivatives designated as hedging instruments | Foreign exchange contracts    
Derivatives, Fair Value [Line Items]    
Fair value of derivative assets 24 323
Fair value of derivative liabilities 104 0
Derivatives designated as hedging instruments | Interest rate contracts    
Derivatives, Fair Value [Line Items]    
Fair value of derivative assets 34 28
Fair value of derivative liabilities $ 5 $ 1
v3.25.4
Derivative Financial Instruments - Impact of Derivatives on Consolidated Statement of Income (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivative [Line Items]      
Deferred compensation expense acceleration $ 79    
Derivatives not designated as hedging instruments      
Derivative [Line Items]      
Amount of gain (loss) on derivative recognized in income 1,137 $ 956 $ 623
Derivatives not designated as hedging instruments | Foreign exchange contracts | Foreign exchange trading services revenue      
Derivative [Line Items]      
Amount of gain (loss) on derivative recognized in income 1,040 862 803
Derivatives not designated as hedging instruments | Foreign exchange contracts | Interest expense      
Derivative [Line Items]      
Amount of gain (loss) on derivative recognized in income 191 274 (54)
Derivatives not designated as hedging instruments | Interest rate contracts      
Derivative [Line Items]      
Amount of gain (loss) on derivative recognized in income (3) 21 (2)
Derivatives not designated as hedging instruments | Other derivative contracts | Other fee revenue      
Derivative [Line Items]      
Amount of gain (loss) on derivative recognized in income (10) (12) (3)
Derivatives not designated as hedging instruments | Other derivative contracts | Compensation and employee benefits      
Derivative [Line Items]      
Amount of gain (loss) on derivative recognized in income $ (81) $ (189) $ (121)
v3.25.4
Derivative Financial Instruments - Schedule of Carrying Amount of Hedged Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Derivatives designated as hedging instruments | Long-term debt    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Carrying Amount of Assets $ 15,553 $ 15,951
Active (76) (323)
Derivatives designated as hedging instruments | Total available-for-sale investment securities    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Carrying Amount of Assets 22,804 18,666
Active 99 (376)
Derivatives designated as hedging instruments | Total available-for-sale investment securities | Closed Portfolio    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Carrying Amount of Assets 3,300 3,320
Active 21 (26)
Last-of-layer, amount 1,730 1,820
Derivatives not designated as hedging instruments | Long-term debt    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Carrying Amount of Assets 72 103
Derivatives not designated as hedging instruments | Total available-for-sale investment securities    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Carrying Amount of Assets $ 0 $ 1
v3.25.4
Derivative Financial Instruments - Impact on Derivatives and Hedged Items on Consolidated Statement of Income (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income $ (195) $ (17) $ 38
Amount of Gain (Loss) on Hedged Item Recognized in Consolidated Statement of Income 194 17 (38)
Net unrealized losses on AFS investment securities designated in fair value hedges recognized in OCI 362 93  
Total available-for-sale investment securities | Net interest income | Interest rate contracts      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income (424) (55) (164)
Amount of Gain (Loss) on Hedged Item Recognized in Consolidated Statement of Income 423 55 164
Total available-for-sale investment securities | Other fee revenue | Interest rate contracts      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income (18) 21 0
Amount of Gain (Loss) on Hedged Item Recognized in Consolidated Statement of Income 18 (21) 0
Long-term debt | Net interest income | Interest rate contracts      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income 247 17 202
Amount of Gain (Loss) on Hedged Item Recognized in Consolidated Statement of Income $ (247) $ (17) $ (202)
v3.25.4
Derivative Financial Instruments - Schedule of Differences Between the Gains (Losses) on the Derivative and the Gains (Losses) on the Hedged Item (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivative [Line Items]      
Gain (loss) on derivative recognized in OCI, cash flow hedge $ (7) $ 53 $ 105
Gain (loss) on derivative recognized in OCI, net investment hedge (783) 540 (89)
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative (790) 593 16
Gain (loss) on hedges reclassified to income, cash flow hedge (136) 54 (208)
Gain (loss) on hedges reclassified to income, net investment hedge 0 0 0
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income $ (136) 54 (208)
Maximum maturity date of the underlying hedged items 5 years    
Interest rate contracts      
Derivative [Line Items]      
Gain (loss) on derivative recognized in OCI, cash flow hedge $ (7) (6) 14
Interest rate contracts | Net interest revenue      
Derivative [Line Items]      
Gain (loss) on hedges reclassified to income, cash flow hedge (136) (200) (210)
Foreign exchange contracts      
Derivative [Line Items]      
Gain (loss) on derivative recognized in OCI, cash flow hedge 0 59 91
Gain (loss) on derivative recognized in OCI, net investment hedge (783) 540 (89)
Foreign exchange contracts | Net interest revenue      
Derivative [Line Items]      
Gain (loss) on hedges reclassified to income, cash flow hedge 0 254 2
Foreign exchange contracts | Gains (Losses) related to investment securities, net      
Derivative [Line Items]      
Gain (loss) on hedges reclassified to income, net investment hedge $ 0 $ 0 $ 0
v3.25.4
Offsetting Arrangements - Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Offsetting [Abstract]    
Fair Value of securities received as collateral that can be resold or repledged $ 19,210 $ 11,410
Fair Value of securities received as collateral that have been resold or repledged $ 12,110 $ 2,760
v3.25.4
Offsetting Arrangements - Assets With Offsetting Arrangements (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Offsetting Assets [Line Items]    
Derivatives, Gross Amounts of Recognized Assets $ 14,259 $ 29,468
Derivatives, Gross Amounts Offset in Statement of Condition (10,104) (18,285)
Derivatives, Net Amounts of Assets Presented in Statement of Condition 4,155 11,183
Derivatives, Net Amount 3,199 9,986
Derivatives, Cash collateral and securities netting, cash offset (2,481) (1,860)
Derivatives, cash collateral and securities netting, cash and securities received (956) (1,197)
Derivatives, Cash collateral and securities netting, Net Amount (3,437) (3,057)
Resale agreements and securities borrowing, Gross Amounts of Recognized Assets 297,824 276,151
Resale agreements and securities borrowing, Gross Amounts Offset in Statement of Condition (252,779) (232,021)
Resale agreements and securities borrowing, Net Amounts of Assets Presented in Statement of Condition 45,045 44,130
Resale agreements and securities borrowing, Cash and Securities Received (42,683) (42,589)
Resale agreements and securities borrowing, Net Amount 2,362 1,541
Total derivatives and other financial instruments, Gross Amounts of Recognized Assets 312,083 305,619
Total derivatives and other financial instruments, Gross Amounts Offset in Statement of Condition (262,883) (250,306)
Total derivatives and other financial instruments, Net Amounts of Assets Presented in Statement of Condition 49,200 55,313
Total derivatives and other financial instruments, Cash and Securities Received (43,639) (43,786)
Total derivatives and other financial instruments, Net Amount 5,561 11,527
Securities purchased under resale agreements 6,812 6,679
Cash collateral provided for securities borrowing 38,240 37,450
Foreign exchange contracts    
Offsetting Assets [Line Items]    
Derivatives, Gross Amounts of Recognized Assets 14,224 29,439
Derivatives, Gross Amounts Offset in Statement of Condition (7,618) (16,424)
Derivatives, Net Amounts of Assets Presented in Statement of Condition 6,606 13,015
Derivatives, Net Amount 6,606 13,015
Interest rate contracts    
Offsetting Assets [Line Items]    
Derivatives, Gross Amounts of Recognized Assets 34 28
Derivatives, Gross Amounts Offset in Statement of Condition (5) (1)
Derivatives, Net Amounts of Assets Presented in Statement of Condition 29 27
Derivatives, Net Amount 29 27
Other derivative contracts    
Offsetting Assets [Line Items]    
Derivatives, Gross Amounts of Recognized Assets 1 1
Derivatives, Gross Amounts Offset in Statement of Condition 0 0
Derivatives, Net Amounts of Assets Presented in Statement of Condition 1 1
Derivatives, Net Amount $ 1 $ 1
v3.25.4
Offsetting Arrangements - Liabilities With Offsetting Arrangements (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Offsetting Liabilities [Line Items]    
Derivatives, Gross Amounts of Recognized Liabilities $ 14,261 $ 29,124
Derivatives, Gross Amounts Offset in Statement of Condition (9,236) (22,528)
Derivatives, Net Amounts of Liabilities Presented in Statement of Condition 5,025 6,596
Derivative, Net Amount 4,268 5,024
Derivative liability, collateral, cash offset (1,614) (6,103)
Derivatives, Cash and collateral securities netting, Cash and Securities Provided (757) (1,572)
Derivatives, Cash and collateral securities netting, Net (2,371) (7,675)
Resale agreements and securities lending, Gross Amounts of Recognized Liabilities 273,785 250,032
Resale agreements and securities lending, Gross Amounts Offset in Statement of Condition (252,779) (232,021)
Resale agreements and securities lending, Net Amounts of Liabilities Presented in Statement of Condition 21,006 18,011
Resale agreements and securities lending, Cash and Securities Provided (20,165) (17,835)
Resale agreements and securities lending, Net Amount 841 176
Total derivatives and other financial instruments, Gross Amounts of Recognized Liabilities 288,046 279,156
Total derivatives and other financial instruments, Gross Amounts Offset in Statement of Condition (262,015) (254,549)
Total derivatives and other financial instruments, Net Amounts of Liabilities Presented in Statement of Condition 26,031 24,607
Total derivatives and other financial instruments, Cash and Securities Provided (20,922) (19,407)
Total derivatives and other financial instruments, Net Amount 5,109 5,200
Securities sold under repurchase agreements 841 3,681
Cash collateral received in connection to securities finance activities 20,170 14,330
Foreign exchange contracts    
Offsetting Liabilities [Line Items]    
Derivatives, Gross Amounts of Recognized Liabilities 14,097 28,904
Derivatives, Gross Amounts Offset in Statement of Condition (7,617) (16,424)
Derivatives, Net Amounts of Liabilities Presented in Statement of Condition 6,480 12,480
Derivative, Net Amount 6,480 12,480
Interest rate contracts    
Offsetting Liabilities [Line Items]    
Derivatives, Gross Amounts of Recognized Liabilities 5 1
Derivatives, Gross Amounts Offset in Statement of Condition (5) (1)
Derivatives, Net Amounts of Liabilities Presented in Statement of Condition 0 0
Derivative, Net Amount 0 0
Other derivative contracts    
Offsetting Liabilities [Line Items]    
Derivatives, Gross Amounts of Recognized Liabilities 159 219
Derivatives, Gross Amounts Offset in Statement of Condition 0 0
Derivatives, Net Amounts of Liabilities Presented in Statement of Condition 159 219
Derivative, Net Amount $ 159 $ 219
v3.25.4
Offsetting Arrangements - Repo, Sec Lending Transactions Maturity by Category (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Assets Sold under Agreements to Repurchase [Line Items]    
Repurchase agreements $ 243,596 $ 227,222
Securities lending transactions 30,189 22,810
Gross amount of recognized liabilities for repurchase agreements and securities lending 273,785 250,032
U.S. Treasury and agency securities    
Assets Sold under Agreements to Repurchase [Line Items]    
Repurchase agreements 243,596 227,222
Securities lending transactions 175 152
Corporate debt securities    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities lending transactions 29 193
Equity securities    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities lending transactions 14,495 15,713
Other    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities lending transactions 15,490 6,752
Overnight and Continuous    
Assets Sold under Agreements to Repurchase [Line Items]    
Repurchase agreements 243,596 223,095
Securities lending transactions 26,973 18,278
Gross amount of recognized liabilities for repurchase agreements and securities lending 270,569 241,373
Overnight and Continuous | U.S. Treasury and agency securities    
Assets Sold under Agreements to Repurchase [Line Items]    
Repurchase agreements 243,596 223,095
Securities lending transactions 175 152
Overnight and Continuous | Corporate debt securities    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities lending transactions 29 193
Overnight and Continuous | Equity securities    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities lending transactions 11,279 11,181
Overnight and Continuous | Other    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities lending transactions 15,490 6,752
Up to 30 Days    
Assets Sold under Agreements to Repurchase [Line Items]    
Repurchase agreements 0 350
Securities lending transactions 0 13
Gross amount of recognized liabilities for repurchase agreements and securities lending 0 363
Up to 30 Days | U.S. Treasury and agency securities    
Assets Sold under Agreements to Repurchase [Line Items]    
Repurchase agreements 0 350
Securities lending transactions 0 0
Up to 30 Days | Corporate debt securities    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities lending transactions 0 0
Up to 30 Days | Equity securities    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities lending transactions 0 13
Up to 30 Days | Other    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities lending transactions 0 0
30-90 Days    
Assets Sold under Agreements to Repurchase [Line Items]    
Repurchase agreements 0 1,277
Securities lending transactions 1 0
Gross amount of recognized liabilities for repurchase agreements and securities lending 1 1,277
30-90 Days | U.S. Treasury and agency securities    
Assets Sold under Agreements to Repurchase [Line Items]    
Repurchase agreements 0 1,277
Securities lending transactions 0 0
30-90 Days | Corporate debt securities    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities lending transactions 0 0
30-90 Days | Equity securities    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities lending transactions 1 0
30-90 Days | Other    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities lending transactions 0 0
Greater than 90 Days    
Assets Sold under Agreements to Repurchase [Line Items]    
Repurchase agreements 0 2,500
Securities lending transactions 3,215 4,519
Gross amount of recognized liabilities for repurchase agreements and securities lending 3,215 7,019
Greater than 90 Days | U.S. Treasury and agency securities    
Assets Sold under Agreements to Repurchase [Line Items]    
Repurchase agreements 0 2,500
Securities lending transactions 0 0
Greater than 90 Days | Corporate debt securities    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities lending transactions 0 0
Greater than 90 Days | Equity securities    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities lending transactions 3,215 4,519
Greater than 90 Days | Other    
Assets Sold under Agreements to Repurchase [Line Items]    
Securities lending transactions $ 0 $ 0
v3.25.4
Commitments and Guarantees - Contractual Amounts of Credit-Related Off-Balance Sheet Financial Instruments (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]    
Unfunded credit facilities $ 35,697 $ 34,191
Indemnified securities financing 371,968 310,814
Standby letters of credit $ 569 $ 908
v3.25.4
Commitments and Guarantees - Schedule of Repurchase Agreements (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]    
Fair value of indemnified securities financing $ 371,968 $ 310,814
Fair value of cash and securities held by us, as agent, as collateral for indemnified securities financing 393,584 325,611
Fair value of collateral for indemnified securities financing invested in indemnified repurchase agreements 51,762 63,655
Fair value of cash and securities held by us or our agents as collateral for investments in indemnified repurchase agreements $ 55,943 $ 68,507
v3.25.4
Commitments and Guarantees - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]    
Unfunded commitments to extend credit, short term 70.00%  
Term of unfunded commitment 1 year  
Cash collateral provided for securities lending $ 38,240 $ 37,450
Cash collateral received in connection to securities finance activities $ 20,170 $ 14,330
v3.25.4
Contingencies (Details)
$ in Millions
 1 Months Ended
Nov. 30, 2024
defendant
plaintiff
Aug. 31, 2021
plaintiff
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Loss Contingencies [Line Items]            
Accrual of loss contingency     $ 43      
Estimate of possible loss     60      
Unrecognized tax benefits     $ 248 $ 237 $ 237 $ 285
Edmar Financial Company, LLC v. Currenex, Inc.            
Loss Contingencies [Line Items]            
Plaintiffs | plaintiff   2        
State of Texas et al v. Blackrock, Inc. et al            
Loss Contingencies [Line Items]            
Plaintiffs | plaintiff 11          
Defendants | defendant 3          
v3.25.4
Variable Interest Entities - Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Contingent Commitment for Tax Credit Investments    
Variable Interest Entity [Line Items]    
Other commitment $ 86  
Low Income Housing Tax Credit    
Variable Interest Entity [Line Items]    
Investment owned, cost 608  
Production Tax Credit    
Variable Interest Entity [Line Items]    
Investment owned, cost 268  
VIE - not primary beneficiary    
Variable Interest Entity [Line Items]    
Potential maximum loss exposure of unconsolidated funds 22 $ 19
VIE - not primary beneficiary | Low Income Housing Production and Investment Tax Credit Entities    
Variable Interest Entity [Line Items]    
Potential maximum loss exposure of unconsolidated funds 960 $ 1,100
Deferred contribution payments $ 81  
v3.25.4
Variable Interest Entities - Tax Credits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Variable Interest Entity [Line Items]      
Income recorded on investments within other fee revenue $ 236 $ 289 $ 180
Income recorded in total revenue 13,944 13,000 $ 11,945
VIE - not primary beneficiary      
Variable Interest Entity [Line Items]      
Income recorded on investments within other fee revenue 17 29  
Income recorded in total revenue 17 $ 29  
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, before Amortization, Statement of Cash Flows [Extensible Enumeration]   Income tax expense  
Tax credits and benefits recognized in income tax expense 236 $ 256  
Proportional amortization recognized in income tax expense (191) (207)  
Total income tax expense (benefit) 45 49  
Net benefit attributable to tax-advantaged investments included in the consolidated statement of income for which proportional amortization has been elected $ 62 $ 78  
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, after Amortization, Statement of Cash Flows [Extensible Enumeration] Income tax expense Income tax expense  
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, after Amortization, Statement of Cash Flows [Extensible Enumeration] Income tax expense Income tax expense  
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, after Amortization, Statement of Cash Flows [Extensible Enumeration]   Income tax expense  
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Income or Comprehensive Income [Extensible Enumeration] Income tax expense Income tax expense  
v3.25.4
Shareholders' Equity - Schedule of Preferred Stock (Details) - USD ($)
$ / shares in Units, $ in Millions
 1 Months Ended
Feb. 06, 2025
Feb. 28, 2025
Jul. 31, 2024
Jan. 31, 2024
Apr. 30, 2016
Dec. 31, 2025
Dec. 31, 2024
Series G Preferred Stock, Depository Share              
Class of Stock [Line Items]              
Shares issued (in shares)         20,000,000    
Preferred stock         $ 500    
Liquidation preference per share (USD per share)         $ 25    
Series G Preferred Stock              
Class of Stock [Line Items]              
Preferred stock           $ 493 $ 493
Ownership Interest Per Depositary Share         0.025%    
Liquidation preference per share (USD per share)         $ 100,000    
Per annum dividend rate         5.35%    
Series I Preferred Stock, Depository Share              
Class of Stock [Line Items]              
Shares issued (in shares)       1,500,000      
Preferred stock       $ 1,500      
Liquidation preference per share (USD per share)       $ 1,000      
Series I Preferred Stock              
Class of Stock [Line Items]              
Preferred stock           1,481 1,481
Ownership Interest Per Depositary Share       1.00%      
Liquidation preference per share (USD per share)       $ 100,000      
Per annum dividend rate       6.70%      
Reset period       5 years      
Per annum dividend rate, basis spread on variable rate       2.613%      
Series J Preferred Stock, Depository Share              
Class of Stock [Line Items]              
Shares issued (in shares)     850,000        
Preferred stock     $ 850        
Liquidation preference per share (USD per share)     $ 1,000        
Series J Preferred Stock              
Class of Stock [Line Items]              
Preferred stock           842 842
Ownership Interest Per Depositary Share     1.00%        
Liquidation preference per share (USD per share)     $ 100,000        
Per annum dividend rate     6.70%        
Reset period     5 years        
Per annum dividend rate, basis spread on variable rate     2.628%        
Series K Preferred Stock, Depository Share              
Class of Stock [Line Items]              
Shares issued (in shares)   750,000          
Preferred stock   $ 750          
Liquidation preference per share (USD per share) $ 1,000 $ 1,000          
Series K Preferred Stock              
Class of Stock [Line Items]              
Shares issued (in shares) 750,000            
Preferred stock           $ 743 $ 0
Ownership Interest Per Depositary Share 1.00% 1.00%          
Liquidation preference per share (USD per share) $ 100,000 $ 100,000          
Per annum dividend rate   6.45%          
Reset period   5 years          
Per annum dividend rate, basis spread on variable rate   2.135%          
v3.25.4
Shareholders' Equity - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 1 Months Ended 12 Months Ended 23 Months Ended
Feb. 06, 2025
Feb. 19, 2026
Feb. 28, 2025
Jul. 31, 2024
Jan. 31, 2024
Apr. 30, 2016
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2025
Jan. 19, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Proceeds from issuance of preferred stock, net of issuance costs             $ 743 $ 2,323 $ 0    
Preferred stock cash dividend             $ 226 $ 185 $ 122    
Cash dividends declared (in USD per share)             $ 3.20 $ 2.90 $ 2.64    
Subsequent Event                      
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Cash dividends declared (in USD per share)   $ 0.84                  
2024 Share Repurchase Program                      
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Amount of common stock authorized for repurchase                     $ 5,000
Total acquired             $ 1,200 $ 1,300   $ 2,500  
Series I Preferred Stock, Depository Share                      
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Shares issued (in shares)         1,500,000            
Liquidation preference per share (USD per share)         $ 1,000            
Preferred dividends declared (USD per share)             $ 67.00 $ 58.63      
Series I Preferred Stock, Depository Share | Subsequent Event                      
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Preferred dividends declared (USD per share)   16.75                  
Series I Preferred Stock                      
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Ownership Interest Per Depositary Share         1.00%            
Liquidation preference per share (USD per share)         $ 100,000            
Per annum dividend rate         6.70%            
Preferred dividends declared (USD per share)             $ 6,700 $ 5,863      
Preferred stock cash dividend             $ 100 $ 88      
Series I Preferred Stock | Subsequent Event                      
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Preferred dividends declared (USD per share)   $ 1,675                  
Preferred stock cash dividend   $ 25                  
Series J Preferred Stock, Depository Share                      
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Shares issued (in shares)       850,000              
Liquidation preference per share (USD per share)       $ 1,000              
Preferred dividends declared (USD per share)             $ 67.00 $ 26.43      
Series J Preferred Stock, Depository Share | Subsequent Event                      
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Preferred dividends declared (USD per share)   $ 16.75                  
Series J Preferred Stock                      
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Ownership Interest Per Depositary Share       1.00%              
Liquidation preference per share (USD per share)       $ 100,000              
Per annum dividend rate       6.70%              
Preferred dividends declared (USD per share)             $ 6,700 $ 2,643      
Preferred stock cash dividend             $ 57 $ 22      
Series J Preferred Stock | Subsequent Event                      
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Preferred dividends declared (USD per share)   $ 1,675                  
Preferred stock cash dividend   $ 14                  
Series K Preferred Stock, Depository Share                      
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Shares issued (in shares)     750,000                
Liquidation preference per share (USD per share) $ 1,000   $ 1,000                
Preferred dividends declared (USD per share)             $ 55.36 $ 0      
Series K Preferred Stock, Depository Share | Subsequent Event                      
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Preferred dividends declared (USD per share)   $ 16.13                  
Series K Preferred Stock                      
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Shares issued (in shares) 750,000                    
Ownership Interest Per Depositary Share 1.00%   1.00%                
Liquidation preference per share (USD per share) $ 100,000   $ 100,000                
Proceeds from issuance of preferred stock, net of issuance costs $ 743                    
Per annum dividend rate     6.45%                
Preferred dividends declared (USD per share)             $ 5,536 $ 0      
Preferred stock cash dividend             $ 42 $ 0      
Series K Preferred Stock | Subsequent Event                      
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Preferred dividends declared (USD per share)   $ 1,613                  
Preferred stock cash dividend   $ 12                  
Series G Preferred Stock                      
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Ownership Interest Per Depositary Share           0.025%          
Liquidation preference per share (USD per share)           $ 100,000          
Per annum dividend rate           5.35%          
Preferred dividends declared (USD per share)             $ 5,350 $ 5,350      
Preferred stock cash dividend             $ 27 $ 27      
Series G Preferred Stock | Subsequent Event                      
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Preferred dividends declared (USD per share)   $ 1,338                  
Preferred stock cash dividend   $ 7                  
Series G Preferred Stock, Depository Share                      
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Shares issued (in shares)           20,000,000          
Liquidation preference per share (USD per share)           $ 25          
Preferred dividends declared (USD per share)             $ 1.34 $ 1.34      
Series G Preferred Stock, Depository Share | Subsequent Event                      
Accumulated Other Comprehensive Income (Loss) [Line Items]                      
Preferred dividends declared (USD per share)   $ 0.33                  
v3.25.4
Shareholders' Equity - Schedule of Dividends Declared (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dividends Payable [Line Items]      
Preferred stock cash dividend $ 226 $ 185 $ 122
Series D Preferred Stock      
Dividends Payable [Line Items]      
Preferred dividends declared (USD per share) $ 0 $ 1,475  
Preferred stock cash dividend $ 0 $ 11  
Series D Preferred Stock, Depository Share      
Dividends Payable [Line Items]      
Preferred dividends declared (USD per share) $ 0 $ 0.37  
Series F Preferred Stock      
Dividends Payable [Line Items]      
Preferred dividends declared (USD per share) $ 0 $ 2,336  
Preferred stock cash dividend $ 0 $ 6  
Series F Preferred Stock, Depository Share      
Dividends Payable [Line Items]      
Preferred dividends declared (USD per share) $ 0 $ 23.36  
Series G Preferred Stock      
Dividends Payable [Line Items]      
Preferred dividends declared (USD per share) $ 5,350 $ 5,350  
Preferred stock cash dividend $ 27 $ 27  
Series G Preferred Stock, Depository Share      
Dividends Payable [Line Items]      
Preferred dividends declared (USD per share) $ 1.34 $ 1.34  
Series H Preferred Stock      
Dividends Payable [Line Items]      
Preferred dividends declared (USD per share) $ 0 $ 6,251  
Preferred stock cash dividend $ 0 $ 31  
Series H Preferred Stock, Depository Share      
Dividends Payable [Line Items]      
Preferred dividends declared (USD per share) $ 0 $ 62.51  
Series I Preferred Stock      
Dividends Payable [Line Items]      
Preferred dividends declared (USD per share) $ 6,700 $ 5,863  
Preferred stock cash dividend $ 100 $ 88  
Series I Preferred Stock, Depository Share      
Dividends Payable [Line Items]      
Preferred dividends declared (USD per share) $ 67.00 $ 58.63  
Series J Preferred Stock      
Dividends Payable [Line Items]      
Preferred dividends declared (USD per share) $ 6,700 $ 2,643  
Preferred stock cash dividend $ 57 $ 22  
Series J Preferred Stock, Depository Share      
Dividends Payable [Line Items]      
Preferred dividends declared (USD per share) $ 67.00 $ 26.43  
Series K Preferred Stock      
Dividends Payable [Line Items]      
Preferred dividends declared (USD per share) $ 5,536 $ 0  
Preferred stock cash dividend $ 42 $ 0  
Series K Preferred Stock, Depository Share      
Dividends Payable [Line Items]      
Preferred dividends declared (USD per share) $ 55.36 $ 0  
v3.25.4
Shareholders' Equity - Schedule of Common Stock (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended 23 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2025
Equity, Class of Treasury Stock [Line Items]        
Cash dividends declared (in USD per share) $ 3.20 $ 2.90 $ 2.64  
Total (In millions) $ 909 $ 859 $ 837  
2024 Share Repurchase Program        
Equity, Class of Treasury Stock [Line Items]        
Shares acquired (in shares) 11.5 15.1    
Average Cost per Share (USD per share) $ 104.05 $ 85.89    
Total acquired $ 1,200 $ 1,300   $ 2,500
v3.25.4
Shareholders' Equity - Accumulated Other Comprehensive Income by Component (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance $ 25,326 $ 23,799 $ 25,191
Other comprehensive income (loss) before reclassifications 847 (160) 775
Increase (decrease) due to amounts reclassified from accumulated other comprehensive income 210 414 582
Other comprehensive income (loss) 1,057 254 1,357
Ending balance 27,841 25,326 23,799
Unrecognized gain (loss) in AOCI (267) (374) (530)
Net Unrealized Gains (Losses) on Cash Flow Hedges      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (132) (131) (359)
Other comprehensive income (loss) before reclassifications (5) 39 75
Increase (decrease) due to amounts reclassified from accumulated other comprehensive income 104 (40) 153
Other comprehensive income (loss) 99 (1) 228
Ending balance (33) (132) (131)
Net Unrealized Gains (Losses) on Investment Securities      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (480) (947) (1,817)
Other comprehensive income (loss) before reclassifications 224 15 442
Increase (decrease) due to amounts reclassified from accumulated other comprehensive income 105 452 428
Other comprehensive income (loss) 329 467 870
Ending balance (151) (480) (947)
Net Unrealized Losses on Retirement Plans      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (129) (145) (143)
Other comprehensive income (loss) before reclassifications 36 14 (3)
Increase (decrease) due to amounts reclassified from accumulated other comprehensive income 1 2 1
Other comprehensive income (loss) 37 16 (2)
Ending balance (92) (129) (145)
Foreign Currency Translation      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (2,168) (1,400) (1,751)
Other comprehensive income (loss) before reclassifications 1,375 (768) 351
Increase (decrease) due to amounts reclassified from accumulated other comprehensive income 0 0 0
Other comprehensive income (loss) 1,375 (768) 351
Ending balance (793) (2,168) (1,400)
Net Unrealized Gains (Losses) on Hedges of Net Investments in Non-U.S. Subsidiaries      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance 809 269 359
Other comprehensive income (loss) before reclassifications (783) 540 (90)
Increase (decrease) due to amounts reclassified from accumulated other comprehensive income 0 0 0
Other comprehensive income (loss) (783) 540 (90)
Ending balance 26 809 269
Accumulated Other Comprehensive Income (Loss)      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (2,100) (2,354) (3,711)
Other comprehensive income (loss) 1,057 254 1,357
Ending balance $ (1,043) $ (2,100) $ (2,354)
v3.25.4
Shareholders' Equity - Adjustments to Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Class of Stock [Line Items]      
Gains (losses) from sales of available-for-sale securities, net $ 4 $ (79) $ (294)
Net interest income (2,960) (2,923) (2,759)
Compensation and employee benefits expenses 5,035 4,697 4,744
Net income 2,945 2,687 1,944
Amounts Reclassified into Earnings      
Class of Stock [Line Items]      
Net income 210 414 582
Amounts Reclassified into Earnings | Net Unrealized Gains (Losses) on Investment Securities      
Class of Stock [Line Items]      
Gains (losses) from sales of available-for-sale securities, net (2) 59 213
Net interest income 107 393 215
Gains (losses) from sales of available-for-sale securities, net tax (2) 21 81
Net interest income tax 47 137 81
Amounts Reclassified into Earnings | Net Unrealized Gains (Losses) on Cash Flow Hedges      
Class of Stock [Line Items]      
Net interest income 104 (40) 153
Net realized gains from sales of available-for-sale securities tax 31 (14) 55
Amounts Reclassified into Earnings | Amortization of Actuarial Losses      
Class of Stock [Line Items]      
Compensation and employee benefits expenses 1 2 1
Amortization of actuarial losses tax $ 0 $ 0 $ 0
v3.25.4
Regulatory Capital (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Retained earnings $ 31,392 $ 29,582
Capital ratio: required common equity tier 1 capital 8.00% 8.00%
Capital ratio: required tier 1 capital 0.095 0.095
Capital ratio: required total capital 0.115 0.115
Capital ratio: required total capital 0.040 0.040
Capital conservation buffer, capital conserved, minimum 0.025  
Stress capital buffer, minimum 2.50%  
Banking regulation, global systemically important bank (G-SIB) surcharge 0.010  
Countercyclical capital buffer 0  
Leverage ratio minimum 0.05  
Basel III Advanced Approaches    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Common stock and related surplus $ 11,209 $ 11,226
Retained earnings 31,392 29,582
Accumulated other comprehensive income (loss) (1,043) (2,100)
Treasury stock, at cost (17,276) (16,198)
Total 24,282 22,510
Goodwill and other intangible assets, net of associated deferred tax liabilities (8,921) (8,320)
Other adjustments (549) (391)
Common equity tier 1 capital 14,812 13,799
Preferred stock 3,559 2,816
Tier 1 capital 18,371 16,615
Qualifying subordinated long-term debt 1,872 1,861
Adjusted allowance for credit losses 18 0
Total capital 20,261 18,476
Credit risk 60,594 63,252
Operational risk 51,638 49,350
Market risk 2,125 2,000
Total risk-weighted assets 114,357 114,602
Adjusted quarterly average assets $ 332,978 $ 318,470
Common equity tier 1 capital 13.00% 12.00%
Tier 1 capital 0.161 0.145
Total capital 0.177 0.161
Tier 1 leverage 0.055 0.052
Basel III Standardized Approach    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Common stock and related surplus $ 11,209 $ 11,226
Retained earnings 31,392 29,582
Accumulated other comprehensive income (loss) (1,043) (2,100)
Treasury stock, at cost (17,276) (16,198)
Total 24,282 22,510
Goodwill and other intangible assets, net of associated deferred tax liabilities (8,921) (8,320)
Other adjustments (549) (391)
Common equity tier 1 capital 14,812 13,799
Preferred stock 3,559 2,816
Tier 1 capital 18,371 16,615
Qualifying subordinated long-term debt 1,872 1,861
Adjusted allowance for credit losses 203 183
Total capital 20,446 18,659
Credit risk 125,138 124,281
Market risk 2,125 2,000
Total risk-weighted assets 127,263 126,281
Adjusted quarterly average assets $ 332,978 $ 318,470
Common equity tier 1 capital 11.60% 10.90%
Tier 1 capital 0.144 0.132
Total capital 0.161 0.148
Tier 1 leverage 0.055 0.052
State Street Bank | Basel III Advanced Approaches    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Common stock and related surplus $ 13,333 $ 13,333
Retained earnings 16,401 15,977
Accumulated other comprehensive income (loss) (815) (1,805)
Treasury stock, at cost 0 0
Total 28,919 27,505
Goodwill and other intangible assets, net of associated deferred tax liabilities (8,342) (8,054)
Other adjustments (419) (278)
Common equity tier 1 capital 20,158 19,173
Preferred stock 0 0
Tier 1 capital 20,158 19,173
Qualifying subordinated long-term debt 524 530
Adjusted allowance for credit losses 18 0
Total capital 20,700 19,703
Credit risk 56,438 57,883
Operational risk 50,025 47,538
Market risk 2,125 2,000
Total risk-weighted assets 108,588 107,421
Adjusted quarterly average assets $ 328,034 $ 314,754
Common equity tier 1 capital 18.60% 17.80%
Tier 1 capital 0.186 0.178
Total capital 0.191 0.183
Tier 1 leverage 0.061 0.061
State Street Bank | Basel III Standardized Approach    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Common stock and related surplus $ 13,333 $ 13,333
Retained earnings 16,401 15,977
Accumulated other comprehensive income (loss) (815) (1,805)
Treasury stock, at cost 0 0
Total 28,919 27,505
Goodwill and other intangible assets, net of associated deferred tax liabilities (8,342) (8,054)
Other adjustments (419) (278)
Common equity tier 1 capital 20,158 19,173
Preferred stock 0 0
Tier 1 capital 20,158 19,173
Qualifying subordinated long-term debt 524 530
Adjusted allowance for credit losses 203 183
Total capital 20,885 19,886
Credit risk 121,747 121,785
Market risk 2,125 2,000
Total risk-weighted assets 123,872 123,785
Adjusted quarterly average assets $ 328,034 $ 314,754
Common equity tier 1 capital 16.30% 15.50%
Tier 1 capital 0.163 0.155
Total capital 0.169 0.161
Tier 1 leverage 0.061 0.061
v3.25.4
Net Interest Income - Components of Interest Revenue and Interest Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Interest income:      
Interest-bearing deposits with banks $ 2,911 $ 3,634 $ 2,869
Investment securities:      
Investment securities available-for-sale 2,995 2,680 1,744
Investment securities held-to-maturity 917 1,090 1,262
Total investment securities 3,912 3,770 3,006
Securities purchased under resale agreements 672 686 312
Trading account assets 4 0 0
Loans 2,286 2,271 1,862
Other interest-earning assets 1,859 1,616 1,131
Total interest income 11,644 11,977 9,180
Interest expense:      
Interest-bearing deposits 6,382 6,627 4,991
Securities sold under repurchase agreements 95 156 34
Federal funds purchased 0 0 3
Other short-term borrowings 434 577 40
Long-term debt 1,230 1,086 888
Other interest-bearing liabilities 543 608 465
Total interest expense 8,684 9,054 6,421
Net interest income $ 2,960 $ 2,923 $ 2,759
v3.25.4
Equity-Based Compensation - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
May 31, 2023
Deferred Stock Awards and Performance Shares        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Allocated share-based compensation $ 268,000,000 $ 223,000,000 $ 208,000,000  
Accelerated recognition due to restructuring plan 18,000,000 3,000,000 12,000,000  
Deferred Stock Awards        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Costs not yet recognized 172,000,000      
Fair value for vested in period $ 190,000,000 185,000,000 185,000,000  
Period of recognition for unrecognized share-based compensation 2 years 3 months 18 days      
Deferred Stock Awards | Minimum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Award vesting period 0 years      
Deferred Stock Awards | Maximum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Award vesting period 4 years      
Performance Shares        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Costs not yet recognized $ 36,000,000      
Fair value for vested in period $ 34,000,000 $ 33,000,000 $ 43,000,000  
Period of recognition for unrecognized share-based compensation 2 years 3 months 18 days      
Performance Shares | Maximum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Award vesting period 3 years      
Stock Appreciation Rights (SARs)        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Exercised (in shares) 0 0 0  
Costs not yet recognized $ 0      
Cash Settled Stock Awards        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Costs not yet recognized 0      
Fair value for vested in period $ 1,000,000 $ 3,000,000    
2017 Stock Incentive Plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Shares authorized for issuance (in shares)       15,100,000
Additional shares authorized (in shares) 21,300,000      
Accumulated number of shares awarded (in shares) 27,400,000 24,700,000 21,700,000  
Shares awarded, but not delivered, available for reissue (in shares) 8,200,000      
Shares available for grant (in shares) 17,200,000      
2006 Equity Incentive Plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Shares authorized for issuance (in shares)       28,500,000
v3.25.4
Equity-Based Compensation - Deferred Stock Awards (Details) - Deferred Stock Awards - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Shares    
Beginning of Period (in shares) 4,859 4,968
Granted (in shares) 2,185 2,551
Vested (in shares) (2,440) (2,513)
Forfeited (in shares) (137) (147)
End of Period (in shares) 4,467 4,859
Weighted-Average Grant Date Fair Value    
Beginning of Period (in USD per share) $ 73.20 $ 75.72
Granted (in USD per share) 94.24 68.70
Vested (in USD per share) 77.72 73.62
Forfeited (in USD per share) 79.25 73.35
End of Period (in USD per share) $ 80.83 $ 73.20
v3.25.4
Equity-Based Compensation - Schedule of Performance Awards (Details) - Performance Shares - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Shares    
Beginning of Period (in shares) 2,039 2,206
Granted (in shares) 598 363
Forfeited (in shares) (28) (28)
Paid out (in shares) (422) (502)
End of Period (in shares) 2,187 2,039
Weighted-Average Grant Date Fair Value    
Beginning of Period (in USD per share) $ 74.44 $ 74.33
Granted (in USD per share) 88.47 63.49
Forfeited (in USD per share) 75.81 80.01
Paid Out (in USD per share) 80.27 65.70
End of Period (in USD per share) $ 77.14 $ 74.44
v3.25.4
Equity-Based Compensation - Schedule of Cash Settled Stock Awards (Details) - Cash Settled Stock Awards - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Shares    
Beginning of Period (in shares) 29 27
Granted (in shares)   40
Paid out (in shares) (17) (38)
End of Period (in shares) 12 29
Weighted-Average Grant Date Fair Value    
Beginning of Period (in USD per share) $ 74.52 $ 83.37
Granted (in USD per share)   69.96
Paid Out (in USD per share) 76.78 76.11
End of Period (in USD per share) $ 71.46 $ 74.52
v3.25.4
Employee Benefits (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
employee
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Defined Benefit Plan Disclosure [Line Items]      
Number of eligible employees for pension plan (in employee) | employee 0    
Defined benefit expense $ 16 $ 17 $ 16
Contributions by employer 226 212 $ 194
Pension Plan      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit obligation 1,110 1,100  
Defined benefit overfunded (underfunded) status 71 26  
Postretirement Benefit Plan      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit obligation 18 1  
Defined benefit overfunded (underfunded) status 0 (1)  
SERP      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit obligation 0 19  
Defined benefit overfunded (underfunded) status $ (18) $ (19)  
v3.25.4
Occupancy Expense and Information Systems and Communications Expense - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Expenses [Line Items]      
Depreciation and amortization $ 892 $ 824 $ 829
Finance lease right-of-use asset 89 67  
Finance lease liability 106 79  
Accumulated amortization for finance lease right-of-use assets 182    
Interest on lease liabilities $ 3 $ 3  
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Other assets Other assets  
Right-of-use assets $ 865 $ 818  
Operating Lease, Liability, Statement of Financial Position [Extensible List] Accrued expenses and other liabilities    
Operating leases not yet commenced $ 80    
Minimum      
Expenses [Line Items]      
Operating leases not yet commenced, lease terms 2 years    
Maximum      
Expenses [Line Items]      
Operating leases not yet commenced, lease terms 10 years    
v3.25.4
Occupancy Expense and Information Systems and Communications Expense - Lease Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration] Occupancy Occupancy
Amortization of right-of-use assets $ 47 $ 48
Interest on lease liabilities 3 3
Total finance lease expense 50 51
Sublease income 0 0
Net finance lease expense 50 51
Operating lease expense 179 168
Sublease income (13) (17)
Net operating lease expense 166 151
Net lease expense 216 202
Operating cash flows from finance leases 3 3
Operating cash flows from operating leases 193 179
Financing cash flows from finance leases 43 46
Operating leases 214 174
Finance leases $ 64 $ 0
v3.25.4
Occupancy Expense and Information Systems and Communications Expense - Summary of Future Minimum Lease Payments (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Operating Leases    
2026 $ 174  
2027 154  
2028 136  
2029 101  
2030 83  
Thereafter 410  
Total future minimum lease payments 1,058  
Less imputed interest (195)  
Total 863  
Finance Leases    
2026 34  
2027 29  
2028 29  
2029 22  
2030 0  
Thereafter 0  
Total future minimum lease payments 114  
Less imputed interest (8)  
Total 106 $ 79
2026 208  
2027 183  
2028 165  
2029 123  
2030 83  
Thereafter 410  
Total future minimum lease payments 1,172  
Less imputed interest (203)  
Total $ 969  
v3.25.4
Occupancy Expense and Information Systems and Communications Expense - Summary of Other Lease Information (Details)
Dec. 31, 2025
Dec. 31, 2024
Weighted-average remaining lease term (in years):    
Finance leases 3 years 4 months 24 days 1 year 4 months 24 days
Operating leases 8 years 3 months 18 days 8 years 1 month 6 days
Weighted-average discount rate:    
Finance leases 5.00% 3.00%
Operating leases 5.00% 4.00%
v3.25.4
Expenses - Schedule of Expenses (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Other Expenses [Abstract]      
Professional services $ 444 $ 465 $ 428
Amortization of other intangible assets 223 230 239
Sales advertising and public relations 174 142 142
Securities processing 58 78 49
Bank operations 50 51 45
Donations 28 28 27
Regulatory fees and assessments (10) 142 464
Other 521 433 359
Total other expenses 1,488 1,569 1,753
FDIC special assessment $ 60 $ 99 $ 387
v3.25.4
Expenses - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Restructuring Cost and Reserve [Line Items]  
Restructuring charges $ 326
Compensation and Employee Benefits  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 211
Occupancy Costs  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 69
Other Restructuring  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 24
Operating model changes  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges $ 22
v3.25.4
Expenses - Restructuring Reserve (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restructuring Reserve [Roll Forward]      
Beginning balance $ 96 $ 208 $ 88
Net repositioning benefit 326 (2) 203
Payments and Other Adjustments (214) (110) (83)
Ending balance 208 96 208
Labor And Related Expense      
Restructuring Reserve [Roll Forward]      
Net repositioning benefit   (15)  
Occupancy, Net      
Restructuring Reserve [Roll Forward]      
Net repositioning benefit   13  
Employee Related Costs      
Restructuring Reserve [Roll Forward]      
Beginning balance 96 207 83
Net repositioning benefit 211 (15) 182
Payments and Other Adjustments (99) (96) (58)
Ending balance 208 96 207
Other      
Restructuring Reserve [Roll Forward]      
Beginning balance 0 1 5
Net repositioning benefit 115 13 21
Payments and Other Adjustments (115) (14) (25)
Ending balance $ 0 $ 0 $ 1
v3.25.4
Income Taxes - Schedule of Components of Income Tax Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current:      
Federal $ 375 $ 108 $ 160
State 96 68 79
Non-U.S. 404 387 317
Total current expense 875 563 556
Deferred:      
Federal (133) 77 (77)
State (1) 2 (63)
Non-U.S. 45 66 (44)
Total deferred expense (benefit) (89) 145 (184)
Effective tax rate $ 786 $ 708 $ 372
v3.25.4
Income Taxes - Schedule of Reconciliation of the U.S. Statutory Income Tax Rate to the Effective Tax Rate (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]      
U.S. federal income tax rate $ 783    
State and local income taxes, net of federal income tax effect 81    
Foreign tax effects 45    
Effects of cross-border tax laws 7    
Tax Credits (68)    
Nontaxable or nondeductible items (27)    
Changes in unrecognized tax benefits (35)    
Effective tax rate $ 786 $ 708 $ 372
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
U.S. federal income tax rate 21.00% 21.00% 21.00%
State and local income taxes, net of federal income tax effect 2.20% 1.80% 2.40%
Foreign tax effects 1.20% 1.00% (0.60%)
Effects of cross-border tax laws 0.20% 0.60% (2.00%)
Tax credits (1.80%) (2.00%) (3.60%)
Foreign tax effects (0.80%) (1.00%) (1.50%)
Changes in unrecognized tax benefits (0.90%)    
Change in Valuation Allowance   (0.50%) (0.20%)
Other, net   (0.10%) 0.60%
Effective tax rate 21.10% 20.80% 16.10%
v3.25.4
Income Taxes - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]        
Unrecognized tax benefits $ 248 $ 237 $ 237 $ 285
Unrecognized tax benefits that would impact effective tax rate 230 220 197  
Interest expense for tax examination 9 8 7  
Interest accrued for tax examination 29 29 21  
Income taxes paid, net $ 594 $ 451 $ 423  
v3.25.4
Income Taxes - Schedule of Components of Deferred Tax Liabilities and Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets:    
Other amortizable assets $ 176 $ 189
Tax credit carryforwards 656 577
Lease obligations 248 214
Deferred compensation 229 111
Restructuring charges and other reserves 166 227
NOL and other carryforwards 154 147
Pension plan 13 21
Foreign currency translation 24 63
Unrealized losses on investment securities, net 52 184
Total deferred tax assets 1,718 1,733
Valuation allowance for deferred tax assets (198) (172)
Deferred tax assets, net of valuation allowance 1,520 1,561
Deferred tax liabilities:    
Fixed and intangible assets 654 634
Investment basis differences 45 47
Right-of-use assets 240 198
Other 33 40
Total deferred tax liabilities $ 972 $ 919
v3.25.4
Income Taxes - Deferred Tax Asset Valuation Allowances (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Valuation Allowance [Line Items]    
Other amortizable assets $ 176 $ 189
Tax credit carryforwards 656 577
NOLs - Non-U.S. 130  
NOLs - U.S. 21  
Other carryforwards 2  
Valuation Allowance (198) $ (172)
Other amortizable assets    
Valuation Allowance [Line Items]    
Valuation Allowance (69)  
Tax credits    
Valuation Allowance [Line Items]    
Valuation Allowance 0  
NOLs - Non-U.S.    
Valuation Allowance [Line Items]    
Valuation Allowance (110)  
NOLs - U.S.    
Valuation Allowance [Line Items]    
Valuation Allowance (17)  
Other carryforwards    
Valuation Allowance [Line Items]    
Valuation Allowance $ (2)  
v3.25.4
Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Unrecognized Tax Benefits [Roll Forward]      
Beginning balance $ 237 $ 237 $ 285
Decrease related to agreements with tax authorities (2) (22) (32)
Increase related to tax positions taken during current year 48 36 39
Increase/(Decrease) related to tax positions taken during prior years 23 11 (34)
Decreases related to a lapse of the applicable statute of limitations (58) (25) (21)
Ending balance $ 248 $ 237 $ 237
v3.25.4
Income Taxes - Summary of Income Taxes Paid (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Paid, by Individual Jurisdiction [Line Items]      
U.S. Federal $ 78    
Total U.S. State 61    
Total Foreign 455    
Total income taxes paid 594 $ 451 $ 423
New York State      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Total U.S. State 28    
Other      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Total U.S. State 33    
United Kingdom      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Total Foreign 110    
Canada      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Total Foreign 54    
Luxembourg      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Total Foreign 46    
Ireland      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Total Foreign 36    
India      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Total Foreign 34    
Italy      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Total Foreign 31    
Other      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Total Foreign $ 144    
v3.25.4
Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Earnings Per Share [Abstract]      
Net income $ 2,945 $ 2,687 $ 1,944
Less:      
Preferred stock dividends (226) (202) (122)
Dividends and undistributed earnings allocated to participating securities (2) (2) (1)
Net income available to common shareholders, Basic 2,717 2,483 1,821
Net income available to common shareholders, Diluted $ 2,717 $ 2,483 $ 1,821
Average common shares outstanding (In thousands):      
Basic average common shares (in shares) 284,545 297,883 322,337
Effect of dilutive securities: equity-based awards (in shares) 4,474 4,343 4,231
Diluted average common shares (in shares) 289,019 302,226 326,568
Anti-dilutive securities (in shares) 9 14 1,251
Earnings per common share:      
Basic (in USD per share) $ 9.55 $ 8.33 $ 5.65
Diluted (in USD per share) $ 9.40 $ 8.21 $ 5.58
v3.25.4
Line of Business Information - Narrative (Details)
 12 Months Ended
Dec. 31, 2025
segment
Segment Reporting Information [Line Items]  
Number of reportable segments 2
Investment Servicing and Investment Management | Investment Servicing and Management Services  
Segment Reporting Information [Line Items]  
Percentage of consolidated revenues by segment 70.00%
Investment Servicing and Investment Management | Processing and Other Services  
Segment Reporting Information [Line Items]  
Percentage of consolidated revenues by segment 30.00%
v3.25.4
Line of Business Information - Summary of Line of Business (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]        
Servicing fees   $ 5,324 $ 5,016 $ 4,922
Management fees   2,398 2,124 1,876
Foreign exchange trading services   1,614 1,401 1,265
Securities finance   505 438 426
Software and processing fees   903 888 811
Other fee revenue   236 289 180
Total fee revenue   10,980 10,156 9,480
Net interest income   2,960 2,923 2,759
Total other income   4 (79) (294)
Total revenue   13,944 13,000 11,945
Provision for credit losses $ 59 59 75 46
Compensation and employee benefits expenses   5,035 4,697 4,744
Information systems and communications   2,094 1,829 1,703
Transaction processing services   1,050 998 957
Other   1,975 2,006 2,179
Total expenses   10,154 9,530 9,583
Income before income tax expense   $ 3,731 $ 3,395 $ 2,316
Pre-Tax Margin   27.00% 26.00% 19.00%
Average assets (in billions)   $ 343,500 $ 311,700 $ 274,700
Operating Segments | Investment
Servicing        
Segment Reporting Information [Line Items]        
Servicing fees   5,324 5,016 4,922
Management fees   0 0 0
Foreign exchange trading services   1,441 1,248 1,140
Securities finance   481 415 402
Software and processing fees   927 888 811
Other fee revenue   209 188 145
Total fee revenue   8,382 7,755 7,420
Net interest income   2,945 2,899 2,740
Total other income   4 2 0
Total revenue   11,331 10,656 10,160
Provision for credit losses   59 75 46
Compensation and employee benefits expenses   4,220 4,078 4,033
Information systems and communications   1,960 1,743 1,568
Transaction processing services   875 825 777
Other   1,001 1,041 1,035
Total expenses   8,056 7,687 7,413
Income before income tax expense   $ 3,216 $ 2,894 $ 2,701
Pre-Tax Margin   28.00% 27.00% 27.00%
Average assets (in billions)   $ 339,900 $ 308,500 $ 271,500
Operating Segments | Investment Management        
Segment Reporting Information [Line Items]        
Servicing fees   0 0 0
Management fees   2,398 2,124 1,876
Foreign exchange trading services   170 138 125
Securities finance   24 23 24
Software and processing fees   0 0 0
Other fee revenue   27 35 35
Total fee revenue   2,619 2,320 2,060
Net interest income   15 24 19
Total other income   0 0 0
Total revenue   2,634 2,344 2,079
Provision for credit losses   0 0 0
Compensation and employee benefits expenses   604 555 520
Information systems and communications   92 86 94
Transaction processing services   175 173 180
Other   904 841 746
Total expenses   1,775 1,655 1,540
Income before income tax expense   $ 859 $ 689 $ 539
Pre-Tax Margin   33.00% 29.00% 26.00%
Average assets (in billions)   $ 3,600 $ 3,200 $ 3,200
Other        
Segment Reporting Information [Line Items]        
Servicing fees   0 0 0
Management fees   0 0 0
Foreign exchange trading services   3 15 0
Securities finance   0 0 0
Software and processing fees   (24) 0 0
Other fee revenue   0 66 0
Total fee revenue   (21) 81 0
Net interest income   0 0 0
Total other income   0 (81) (294)
Total revenue   (21) 0 (294)
Provision for credit losses   0 0 0
Compensation and employee benefits expenses   211 64 191
Information systems and communications   42 0 41
Transaction processing services   0 0 0
Other   70 124 398
Total expenses   323 188 630
Income before income tax expense   $ (344) $ (188) $ (924)
v3.25.4
Line of Business Information - Components of Other (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Foreign exchange trading services $ 1,614 $ 1,401 $ 1,265
Other fee revenue 236 289 180
Gains (losses) from sales of available-for-sale securities, net 4 (79) (294)
Repositioning charges (326)    
Income before income tax expense 3,731 3,395 2,316
Net repositioning benefit 326 (2) 203
FDIC special assessment 60 99 387
Labor And Related Expense      
Segment Reporting Information [Line Items]      
Net repositioning benefit   (15)  
Occupancy, Net      
Segment Reporting Information [Line Items]      
Net repositioning benefit   13  
Other      
Segment Reporting Information [Line Items]      
Foreign exchange trading services 3 15 0
Client rescoping (revenue impact) (24) 0 0
Other fee revenue 0 66 0
Gains (losses) from sales of available-for-sale securities, net 0 (81) (294)
Deferred incentive compensation expense acceleration 0 (79) 0
Repositioning charges (326) 2 (203)
Client rescoping (expense impact) (18) 0 0
Other notable items 21 (111) (427)
Income before income tax expense (344) (188) (924)
Client rescoping (revenue impact) before taxes (42)    
Compensation and employee benefits expenses related to workforce rationalization 211    
Occupancy costs related to real estate footprint optimization 69   21
Other changes 40 12 41
Net repositioning benefit     (182)
FDIC special assessment (60) 99 $ 387
Other | Communications and Information Technology      
Segment Reporting Information [Line Items]      
Other changes 24    
Other | Other Expense      
Segment Reporting Information [Line Items]      
Other changes $ 22    
Other | Labor And Related Expense      
Segment Reporting Information [Line Items]      
Net repositioning benefit   (15)  
Other | Occupancy, Net      
Segment Reporting Information [Line Items]      
Net repositioning benefit   $ 13  
v3.25.4
Revenue from Contracts with Customers - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
segment
Dec. 31, 2024
USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Number of reportable segments | segment 2  
Receivables related to contracts with customers $ 3,510 $ 3,080
Contract with customer, liability 131 $ 144
Revenue recognized 121  
Software License Sales & SaaS | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Non-cancelable performance obligations $ 2,070  
Expected timing of satisfaction period 3 years  
v3.25.4
Revenue from Contracts with Customers - Disaggregation of Revenue by Category (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Total revenue $ 13,944 $ 13,000 $ 11,945
Servicing fees      
Disaggregation of Revenue [Line Items]      
Total revenue 5,324 5,016 4,922
Management fees      
Disaggregation of Revenue [Line Items]      
Total revenue 2,398 2,124 1,876
Foreign exchange trading services      
Disaggregation of Revenue [Line Items]      
Total revenue 1,614 1,401 1,265
Securities finance      
Disaggregation of Revenue [Line Items]      
Total revenue 505 438 426
Software and processing fees      
Disaggregation of Revenue [Line Items]      
Total revenue 903 888 811
Other fee revenue      
Disaggregation of Revenue [Line Items]      
Total revenue 236 289 180
Total fee revenue      
Disaggregation of Revenue [Line Items]      
Total revenue 10,980 10,156 9,480
Net interest income      
Disaggregation of Revenue [Line Items]      
Total revenue 2,960 2,923 2,759
Total other income      
Disaggregation of Revenue [Line Items]      
Total revenue 4 (79) (294)
Operating Segments | Investment
Servicing      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 6,681 6,272 6,118
All other revenue 4,650 4,384 4,042
Total revenue 11,331 10,656 10,160
Operating Segments | Investment
Servicing | Servicing fees      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 5,324 5,016 4,922
All other revenue 0 0 0
Total revenue 5,324 5,016 4,922
Operating Segments | Investment
Servicing | Management fees      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 0 0 0
All other revenue 0 0 0
Total revenue 0 0 0
Operating Segments | Investment
Servicing | Foreign exchange trading services      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 414 386 344
All other revenue 1,027 862 796
Total revenue 1,441 1,248 1,140
Operating Segments | Investment
Servicing | Securities finance      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 212 185 225
All other revenue 269 230 177
Total revenue 481 415 402
Operating Segments | Investment
Servicing | Software and processing fees      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 731 685 627
All other revenue 196 203 184
Total revenue 927 888 811
Operating Segments | Investment
Servicing | Other fee revenue      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 0 0 0
All other revenue 209 188 145
Total revenue 209 188 145
Operating Segments | Investment
Servicing | Total fee revenue      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 6,681 6,272 6,118
All other revenue 1,701 1,483 1,302
Total revenue 8,382 7,755 7,420
Operating Segments | Investment
Servicing | Net interest income      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 0 0 0
All other revenue 2,945 2,899 2,740
Total revenue 2,945 2,899 2,740
Operating Segments | Investment
Servicing | Total other income      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 0 0 0
All other revenue 4 2 0
Total revenue 4 2 0
Operating Segments | Investment Management      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 2,568 2,262 2,001
All other revenue 66 82 78
Total revenue 2,634 2,344 2,079
Operating Segments | Investment Management | Servicing fees      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 0 0 0
All other revenue 0 0 0
Total revenue 0 0 0
Operating Segments | Investment Management | Management fees      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 2,398 2,124 1,876
All other revenue 0 0 0
Total revenue 2,398 2,124 1,876
Operating Segments | Investment Management | Foreign exchange trading services      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 170 138 125
All other revenue 0 0 0
Total revenue 170 138 125
Operating Segments | Investment Management | Securities finance      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 0 0 0
All other revenue 24 23 24
Total revenue 24 23 24
Operating Segments | Investment Management | Software and processing fees      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 0 0 0
All other revenue 0 0 0
Total revenue 0 0 0
Operating Segments | Investment Management | Other fee revenue      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 0 0 0
All other revenue 27 35 35
Total revenue 27 35 35
Operating Segments | Investment Management | Total fee revenue      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 2,568 2,262 2,001
All other revenue 51 58 59
Total revenue 2,619 2,320 2,060
Operating Segments | Investment Management | Net interest income      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 0 0 0
All other revenue 15 24 19
Total revenue 15 24 19
Operating Segments | Investment Management | Total other income      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 0 0 0
All other revenue 0 0 0
Total revenue 0 0 0
Other      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue (24) 0 0
All other revenue 3 0 (294)
Total revenue (21) 0 (294)
Other | Servicing fees      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 0 0 0
All other revenue 0 0 0
Total revenue 0 0 0
Other | Management fees      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 0 0 0
All other revenue 0 0 0
Total revenue 0 0 0
Other | Foreign exchange trading services      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 0 0 0
All other revenue 3 15 0
Total revenue 3 15 0
Other | Securities finance      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 0 0 0
All other revenue 0 0 0
Total revenue 0 0 0
Other | Software and processing fees      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue (24) 0 0
All other revenue 0 0 0
Total revenue (24) 0 0
Other | Other fee revenue      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 0 0 0
All other revenue 0 66 0
Total revenue 0 66 0
Other | Total fee revenue      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue (24) 0 0
All other revenue 3 81 0
Total revenue (21) 81 0
Other | Net interest income      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 0 0 0
All other revenue 0 0 0
Total revenue 0 0 0
Other | Total other income      
Disaggregation of Revenue [Line Items]      
Topic 606 revenue 0 0 0
All other revenue 0 (81) (294)
Total revenue $ 0 $ (81) $ (294)
v3.25.4
Non-U.S. Activities - Schedule of Results From Non-U.S. Operations (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Total revenue $ 13,944 $ 13,000 $ 11,945
Income before income tax expense 3,731 3,395 2,316
Non-U.S.      
Segment Reporting Information [Line Items]      
Total revenue 5,936 5,485 5,108
Income before income tax expense 1,493 1,376 1,057
U.S.      
Segment Reporting Information [Line Items]      
Total revenue 8,008 7,515 6,837
Income before income tax expense $ 2,238 $ 2,019 $ 1,259
v3.25.4
Non-U.S. Activities - Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Segment Reporting Information [Line Items]    
Total assets $ 366,047 $ 353,240
Non-U.S.    
Segment Reporting Information [Line Items]    
Total assets $ 95,680 $ 88,350
v3.25.4
Parent Company Financial Statements - Statement of Income (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Condensed Financial Statements, Captions [Line Items]      
Total revenue $ 13,944 $ 13,000 $ 11,945
Other 1,488 1,569 1,753
Total expenses 10,154 9,530 9,583
Income tax expense 786 708 372
Equity in undistributed income (loss) of consolidated subsidiaries and unconsolidated entities:      
Net income 2,945 2,687 1,944
Parent Company      
Condensed Financial Statements, Captions [Line Items]      
Cash dividends from consolidated banking subsidiary 2,600 1,250 4,550
Cash dividends from consolidated non-banking subsidiaries and unconsolidated entities 316 58 320
Other, net 593 516 274
Total revenue 3,509 1,824 5,144
Interest expense 1,235 1,170 975
Other 257 239 198
Total expenses 1,492 1,409 1,173
Income tax expense (209) (232) (224)
Income before equity in undistributed income of consolidated subsidiaries and unconsolidated entities 2,226 647 4,195
Equity in undistributed income (loss) of consolidated subsidiaries and unconsolidated entities:      
Consolidated banking subsidiary 425 1,522 (2,464)
Consolidated non-banking subsidiaries and unconsolidated entities 294 518 213
Net income $ 2,945 $ 2,687 $ 1,944
v3.25.4
Parent Company Financial Statements - Statement of Condition (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Assets:        
Interest-bearing deposits with banks $ 126,930 $ 112,957    
Trading account assets 827 768    
Other assets 58,468 64,514    
Total assets 366,047 353,240    
Liabilities:        
Total liabilities 338,206 327,914    
Shareholders’ equity 27,841 25,326 $ 23,799 $ 25,191
Total liabilities and shareholders’ equity 366,047 353,240    
Parent Company        
Assets:        
Interest-bearing deposits with banks 627 438    
Trading account assets 539 499    
Investment securities available-for-sale 428 378    
Consolidated banking subsidiary 28,919 27,504    
Consolidated non-banking subsidiaries 11,584 10,487    
Unconsolidated entities 104 114    
Consolidated banking subsidiary 142 170    
Consolidated non-banking subsidiaries and unconsolidated entities 10,805 9,211    
Other assets 218 127    
Total assets 53,366 48,928    
Liabilities:        
Consolidated banking subsidiary 9 0    
Consolidated non-banking subsidiaries and unconsolidated entities 2,082 2,063    
Accrued expenses and other liabilities 679 652    
Long-term debt 22,755 20,887    
Total liabilities 25,525 23,602    
Shareholders’ equity 27,841 25,326    
Total liabilities and shareholders’ equity $ 53,366 $ 48,928    
v3.25.4
Parent Company Financial Statements - Statement of Cash Flows (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Activities:      
Net cash provided by operating activities $ 11,898 $ (13,210) $ 690
Investing Activities:      
Net (decrease) increase in interest-bearing deposits with consolidated banking subsidiary (12,998) (25,292) 13,928
Purchases of available-for-sale securities (50,245) (44,301) (23,089)
Net cash (used in) provided by investing activities (12,991) (39,483) 12,738
Financing Activities:      
Proceeds from issuance of long-term debt, net of issuance costs 5,722 6,523 6,221
Payments for long-term debt (4,143) (2,046) (2,545)
Proceeds from issuance of preferred stock, net of issuance costs 743 2,323 0
Payments for redemption of preferred stock 0 (1,500) 0
Repurchases of common stock (1,200) (1,319) (3,781)
Repurchases of common stock for employee tax withholding (106) (83) (95)
Payments for cash dividends (1,120) (1,033) (970)
Net cash provided by (used in) financing activities 2,381 51,791 (13,351)
Net increase (decrease) 1,288 (902) 77
Cash and due from banks at beginning of period 3,145 4,047 3,970
Cash and due from banks at end of period 4,433 3,145 4,047
Parent Company      
Operating Activities:      
Net cash provided by operating activities 2,283 622 4,194
Investing Activities:      
Net (decrease) increase in interest-bearing deposits with consolidated banking subsidiary (189) 221 (199)
Proceeds from sales and maturities of available-for-sale securities 1,670 1,120 830
Purchases of available-for-sale securities (1,701) (1,204) (836)
Investments in consolidated banking and non-banking subsidiaries (11,102) (9,330) (10,784)
Sale or repayment of investment in consolidated banking and non-banking subsidiaries 9,100 7,875 7,920
Net cash (used in) provided by investing activities (2,222) (1,318) (3,069)
Financing Activities:      
Proceeds from issuance of long-term debt, net of issuance costs 5,722 4,281 6,221
Payments for long-term debt (4,100) (2,000) (2,500)
Proceeds from issuance of preferred stock, net of issuance costs 743 2,350 0
Payments for redemption of preferred stock 0 (1,500) 0
Repurchases of common stock (1,200) (1,319) (3,781)
Repurchases of common stock for employee tax withholding (106) (83) (95)
Payments for cash dividends (1,120) (1,033) (970)
Net cash provided by (used in) financing activities (61) 696 (1,125)
Net increase (decrease) 0 0 0
Cash and due from banks at beginning of period 0 0 0
Cash and due from banks at end of period $ 0 $ 0 $ 0