v3.26.1
Investment securities - Fair Value of Investments with Continuous Unrealized Loss Position (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Less than 12 months, Fair value $ 40,980 $ 12,362
Less than 12 months, Unrealized losses 335 55
12 months or more, Fair value 22,673 19,307
12 months or more, Unrealized losses 714 768
Total, Fair value 63,653 31,669
Total, Unrealized losses 1,049 823
U.S. Treasury    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Less than 12 months, Fair value 10,801 378
Less than 12 months, Unrealized losses 62 1
12 months or more, Fair value 7,879 1,671
12 months or more, Unrealized losses 68 24
Total, Fair value 18,680 2,049
Total, Unrealized losses 130 25
Agency residential mortgage-backed securities (“RMBS”)    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Less than 12 months, Fair value 11,024 3,614
Less than 12 months, Unrealized losses 156 26
12 months or more, Fair value 5,100 5,818
12 months or more, Unrealized losses 213 217
Total, Fair value 16,124 9,432
Total, Unrealized losses 369 243
Non-U.S. government    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Less than 12 months, Fair value 12,690 4,120
Less than 12 months, Unrealized losses 75 17
12 months or more, Fair value 2,576 3,195
12 months or more, Unrealized losses 85 130
Total, Fair value 15,266 7,315
Total, Unrealized losses 160 147
Agency commercial mortgage-backed securities (“MBS”)    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Less than 12 months, Fair value 1,256 420
Less than 12 months, Unrealized losses 14 1
12 months or more, Fair value 3,907 4,303
12 months or more, Unrealized losses 107 122
Total, Fair value 5,163 4,723
Total, Unrealized losses 121 123
Foreign covered bonds    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Less than 12 months, Fair value 2,376 1,191
Less than 12 months, Unrealized losses 22 5
12 months or more, Fair value 301 1,338
12 months or more, Unrealized losses 17 52
Total, Fair value 2,677 2,529
Total, Unrealized losses 39 57
Collateralized loan obligations (“CLOs”)    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Less than 12 months, Fair value 1,950 2,280
Less than 12 months, Unrealized losses 2 3
12 months or more, Fair value 104 0
12 months or more, Unrealized losses 0 0
Total, Fair value 2,054 2,280
Total, Unrealized losses 2 3
Non-agency commercial MBS    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Less than 12 months, Fair value 79 78
Less than 12 months, Unrealized losses 0 0
12 months or more, Fair value 1,705 1,881
12 months or more, Unrealized losses 83 85
Total, Fair value 1,784 1,959
Total, Unrealized losses 83 85
Non-agency RMBS    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Less than 12 months, Fair value 397 267
Less than 12 months, Unrealized losses 1 2
12 months or more, Fair value 799 807
12 months or more, Unrealized losses 120 116
Total, Fair value 1,196 1,074
Total, Unrealized losses 121 118
U.S. government agencies    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Less than 12 months, Fair value 392  
Less than 12 months, Unrealized losses 3  
12 months or more, Fair value 53  
12 months or more, Unrealized losses 0  
Total, Fair value 445  
Total, Unrealized losses 3  
Other asset-backed securities (“ABS”)    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Less than 12 months, Fair value 15 14
Less than 12 months, Unrealized losses 0 0
12 months or more, Fair value 249 294
12 months or more, Unrealized losses 21 22
Total, Fair value 264 308
Total, Unrealized losses $ 21 $ 22