Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheet (Parenthetical)

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Assets
Federal funds sold and securities borrowed or purchased under agreements to resell measured at fair value	$ 185,491	$ 144,501
Trading account assets, pledged as collateral	185,869	170,328
Trading account assets	366,954	314,460
Loans and leases	1,185,700	1,095,835
Allowance for loan and lease losses	(13,203)	(13,240)
Loans and leases, net of allowance	1,172,497	1,082,595
All other assets	164,986	161,836
Total assets	3,411,738	3,261,299
Debt securities:
Fair Value	442,430	450,548
Loans and leases, measured at fair value	3,498	4,249
Loans held for sale, measured at fair value	2,271	2,214
Other assets	9,058	13,176
Deposits in U.S. offices:
Interest bearing, measured at fair value	1,223	310
Federal funds purchased and securities loans or sold under agreements to repurchase, at fair value	223,067	192,859
Short-term borrowings, measured at fair value	8,051	6,245
Accrued expenses and other liabilities, measured at fair value	8,996	13,199
Accrued expenses and other liabilities, reserve for unfunded lending commitments	1,177	1,096
Long-term debt, measured at fair value	72,591	50,005
Short-term borrowings (includes $0 and $0 of non-recourse short-term borrowings)	48,088	43,391
Long-term debt (includes $6,847 and $8,457 of non-recourse debt)	317,816	283,279
Total liabilities	$ 3,108,495	$ 2,967,336
Shareholders’ equity
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock authorized (in shares)	100,000,000	100,000,000
Preferred stock issued (in shares)	3,991,164	3,877,917
Preferred stock outstanding (in shares)	3,991,164	3,877,917
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	12,800,000,000	12,800,000,000
Common stock issued (in shares)	7,212,464,345	7,610,862,311
Common stock outstanding (in shares)	7,212,464,345	7,610,862,311
Consolidated VIEs
Assets
Trading account assets	$ 7,139	$ 5,575
Loans and leases	17,875	19,144
Allowance for loan and lease losses	(871)	(919)
Loans and leases, net of allowance	17,004	18,225
All other assets	709	319
Total assets	24,852	24,119
Deposits in U.S. offices:
Short-term borrowings (includes $0 and $0 of non-recourse short-term borrowings)	5,779	3,329
Long-term debt (includes $6,847 and $8,457 of non-recourse debt)	6,847	8,457
All other liabilities (includes $18 and $21 of non-recourse liabilities)	18	21
Total liabilities	12,644	11,807
Consolidated VIEs \| Nonrecourse
Deposits in U.S. offices:
Short-term borrowings (includes $0 and $0 of non-recourse short-term borrowings)	0	0
Long-term debt (includes $6,847 and $8,457 of non-recourse debt)	6,847	8,457
All other liabilities (includes $18 and $21 of non-recourse liabilities)	$ 18	$ 21