Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss

[Table of Contents](#i6f5a02f7aeae4b00b01c55901eb4a1a5_4)The following table provides information about available-for-sale investment securities with aggregate gross unrealized losses and the length of time that individual investment securities have been in a continuous unrealized loss position (dollars in millions):

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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
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|   | Number of Securities in a Loss Position |  | Less than 12 months |  | More than 12 months |
|  |  | FairValue |  | UnrealizedLosses |  | FairValue |  | UnrealizedLosses |
| At March 31, 2022 |  |  |  |  |  |  |  |  |  |
| Available-for-Sale Investment Securities |  |  |  |  |  |  |  |  |  |
| U.S. Treasury and U.S. GSE securities | 18  |  |  | $ | 2,103  |  |  | $ | (32) |  |  | $ | —  |  |  | $ | —  |  |
| Residential mortgage-backed securities - Agency | 25  |  |  | $ | 144  |  |  | $ | (1) |  |  | $ | 6  |  |  | $ | (1) |  |
|  |  |  |  |  |  |  |  |  |  |
| At December 31, 2021 |  |  |  |  |  |  |  |  |  |
| Available-for-Sale Investment Securities |  |  |  |  |  |  |  |  |  |
| U.S. Treasury and U.S. GSE securities | 2  |  |  | $ | 110  |  |  | NM |  | $ | —  |  |  | $ | —  |  |
| Residential mortgage-backed securities - Agency | 1  |  |  | $ | 7  |  |  | NM |  | $ | —  |  |  | $ | —  |  |
|  |  |  |  |  |  |  |  |  |  |

There were no proceeds from sales or recognized gains or losses on available-for-sale securities during the three months ended March 31, 2022 and 2021. See Note 8: Accumulated Other Comprehensive Income for unrealized gains and losses on available-for-sale securities during the three months ended March 31, 2022 and 2021.Maturities of available-for-sale debt securities and held-to-maturity debt securities are provided in the following table (dollars in millions):

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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| At March 31, 2022 | One YearorLess |  | After OneYearThroughFive Years |  | After FiveYearsThroughTen Years |  | After TenYears |  | Total |
| Available-for-Sale Investment Securities — Amortized Cost |  |  |  |  |  |  |  |  |  |
| U.S. Treasury and U.S. GSE securities | $ | 1,619  |  |  | $ | 3,992  |  |  | $ | 8  |  |  | $ | —  |  |  | $ | 5,619  |  |
| Residential mortgage-backed securities - Agency(1) | 1  |  |  | 72  |  |  | 82  |  |  | 7  |  |  | 162  |  |
| Total available-for-sale investment securities | $ | 1,620  |  |  | $ | 4,064  |  |  | $ | 90  |  |  | $ | 7  |  |  | $ | 5,781  |  |
| Held-to-Maturity Investment Securities — Amortized Cost |  |  |  |  |  |  |  |  |  |
| Residential mortgage-backed securities - Agency(1) | $ | —  |  |  | $ | —  |  |  | $ | —  |  |  | $ | 205  |  |  | $ | 205  |  |
| Total held-to-maturity investment securities | $ | —  |  |  | $ | —  |  |  | $ | —  |  |  | $ | 205  |  |  | $ | 205  |  |
| Available-for-Sale Investment Securities — Fair Values |  |  |  |  |  |  |  |  |  |
| U.S. Treasury and U.S. GSE securities | $ | 1,630  |  |  | $ | 3,974  |  |  | $ | 8  |  |  | $ | —  |  |  | $ | 5,612  |  |
| Residential mortgage-backed securities - Agency(1) | 1  |  |  | 71  |  |  | 82  |  |  | 6  |  |  | 160  |  |
| Total available-for-sale investment securities | $ | 1,631  |  |  | $ | 4,045  |  |  | $ | 90  |  |  | $ | 6  |  |  | $ | 5,772  |  |
| Held-to-Maturity Investment Securities — Fair Values |  |  |  |  |  |  |  |  |  |
| Residential mortgage-backed securities - Agency(1) | $ | —  |  |  | $ | —  |  |  | $ | —  |  |  | $ | 198  |  |  | $ | 198  |  |
| Total held-to-maturity investment securities | $ | —  |  |  | $ | —  |  |  | $ | —  |  |  | $ | 198  |  |  | $ | 198  |  |
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(1)Maturities of RMBS are reflective of the contractual maturities of the investment.Other InvestmentsAs a part of the Company's community reinvestment initiatives, the Company has made equity investments in certain limited partnerships and limited liability companies that finance the construction and rehabilitation of affordable rental housing and stimulate economic development in low- to moderate-income communities. These investments are accounted for using the equity method of accounting and are recorded within other assets. The related commitment for future investments is recorded in accrued expenses and other liabilities within the condensed consolidated statements of financial condition. The portion of each investment's operating results allocable to the Company reduces the carrying value of the investments and is recorded in other expense within the condensed consolidated statements of income. The Company further reduces the carrying value of the investments by recognizing any amounts that are in excess of future net tax benefits in other expense. The Company earns a return primarily through tax credits allocated to the affordable housing projects and the community revitalization projects. The Company does not consolidate these investments as the Company does not have a controlling financial interest in the investee entities. As of March 31, 2022 and December 31, 2021, the Company had outstanding 8
