SCHWAB CHARLES CORP
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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FY2025 · Filed Feb 25, 2026
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Receivables from and Payables to Brokerage Clients
- Receivables from and Payables to Brokerage Clients
Receivables from brokerage clients were $104.7 billion and $85.4 billion at December 31, 2025 and 2024, respectively, and are primarily comprised of margin loans, net of related client cash, short sale proceeds, and other client payables. At December 31, 2025 and 2024, margin loans totaled $112.3 billion and $83.8 billion, respectively. The allowance for credit losses for receivables from brokerage clients and related activity was immaterial as of December 31, 2025 and 2024.
Payables to brokerage clients were $116.3 billion and $101.6 billion at December 31, 2025 and 2024, respectively, and are primarily comprised of Schwab One® payables, net of related client margin loans and other client receivables. At December 31, 2025 and 2024, Schwab One payables totaled $104.5 billion and $91.2 billion, respectively.
At December 31, 2025 and 2024, approximately 16% of CS&Co’s total client accounts were located in California.
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