v3.24.4
Derivatives and Hedging Activities (Schedule of Fair Value and Outstanding Notional Amounts of Derivative Instruments and Related Collateral Balances) (Details)
€ in Millions, ₨ in Millions, £ in Millions, $ in Millions, $ in Millions, $ in Millions
Dec. 31, 2023
USD ($)
transactions
Dec. 31, 2023
EUR (€)
transactions
Dec. 31, 2023
GBP (£)
transactions
Dec. 31, 2023
SGD ($)
transactions
Dec. 31, 2023
INR (₨)
transactions
Dec. 31, 2023
AUD ($)
transactions
Dec. 31, 2022
USD ($)
transactions
Dec. 31, 2022
EUR (€)
transactions
Dec. 31, 2022
GBP (£)
transactions
Dec. 31, 2022
SGD ($)
transactions
Dec. 31, 2022
INR (₨)
transactions
Dec. 31, 2022
AUD ($)
transactions
Derivatives, Fair Value [Line Items]                        
Derivative assets [1] $ 4           $ 1          
Collateral held, derivative assets [2] 0           0          
Total net derivative assets 4           1          
Derivative liabilities [1] 0           5          
Collateral posted, derivative liabilities [2] 0           (5)          
Total net derivative liabilities 0           0          
Designated as Hedges [Member] | Cash Flow Hedges [Member] | Interest Rate Swaps [Member]                        
Derivatives, Fair Value [Line Items]                        
Derivative, notional amount $ 10,650           5,000          
Derivative, number of outstanding derivative contracts | transactions 17 17 17 17 17 17            
Derivative assets $ 2           1          
Derivative liabilities 0           3          
Designated as Hedges [Member] | Fair Value Hedges [Member] | Interest Rate Swaps [Member]                        
Derivatives, Fair Value [Line Items]                        
Derivative, notional amount $ 8,650           4,425          
Derivative, number of outstanding derivative contracts | transactions 10 10 10 10 10 10            
Derivative assets $ 2           0          
Derivative liabilities 0           2          
Not Designated as Hedges [Member] | Foreign Exchange Forward Contracts [Member]                        
Derivatives, Fair Value [Line Items]                        
Derivative, notional amount [3] $ 29           25          
Derivative, number of outstanding derivative contracts | transactions 7 7 7 7 7 7            
Derivative assets $ 0           0          
Derivative liabilities 0           0          
Not Designated as Hedges [Member] | Foreign Exchange Forward Contracts [Member] | Euro Member Countries, Euro                        
Derivatives, Fair Value [Line Items]                        
Derivative, notional amount | €   € 6           € 6        
Not Designated as Hedges [Member] | Foreign Exchange Forward Contracts [Member] | United Kingdom, Pounds                        
Derivatives, Fair Value [Line Items]                        
Derivative, notional amount | £     £ 6           £ 6      
Not Designated as Hedges [Member] | Foreign Exchange Forward Contracts [Member] | Singapore, Dollars                        
Derivatives, Fair Value [Line Items]                        
Derivative, notional amount       $ 1           $ 1    
Not Designated as Hedges [Member] | Foreign Exchange Forward Contracts [Member] | India, Rupees                        
Derivatives, Fair Value [Line Items]                        
Derivative, notional amount | ₨         ₨ 1,100           ₨ 788  
Not Designated as Hedges [Member] | Foreign Exchange Forward Contracts [Member] | Australia, Dollars                        
Derivatives, Fair Value [Line Items]                        
Derivative, notional amount           $ 2           $ 2
Not Designated as Hedges [Member] | When-Issued Mortgage-Backed Contracts [Member]                        
Derivatives, Fair Value [Line Items]                        
Derivative, notional amount $ 35           $ 48          
Derivative, number of outstanding derivative contracts | transactions 1 1 1 1 1 1 1 1 1 1 1 1
[1] In addition to the derivatives disclosed in the table, the Company enters into forward contracts to purchase when-issued mortgage-backed securities and tax exempt single family mortgage revenue bonds as part of its community reinvestment initiatives. At December 31, 2023, the Company had one outstanding contract with a total notional amount of $35 million and an immaterial fair value. At December 31, 2022, the Company had one outstanding contract with a total notional amount of $48 million and an immaterial fair value.
[2] Collateral amounts, which consist of cash and investment securities, are limited to the related derivative asset/liability balance and do not include excess collateral received/pledged
[3] The foreign exchange forward contracts have notional amounts of EUR 6 million, GBP 6 million, SGD 1 million, INR 1.1 billion and AUD 2 million as of December 31, 2023, and notional amounts of EUR 6 million, GBP 6 million, SGD 1 million, INR 788 million and AUD 2 million as of December 31, 2022.