Noninterest Revenue (Tables)

9 Months Ended

Sep. 30, 2011

Noninterest Revenue (Tables) [Abstract]



	Three months ended September 30,				Nine months ended September 30,
(in millions)	2011		2010		2011		2010
Underwriting:
Equity	$	178	$	333	$	1,012	$	1,100
Debt	508		777		2,366		2,239
Total underwriting	686		1,110		3,378		3,339
Advisory	366		366		1,400		1,019
Total investment banking fees	$	1,052	$	1,476	$	4,778	$	4,358

Principal transactions revenue



	Three months ended September 30,						Nine months ended September 30,
(in millions)	2011			2010			2011			2010
Trading revenue by risk exposure:
Interest rate	$	(477	)	$	(278	)	$	(255	)	$	41
Credit	901			646			2,968			4,104
Foreign exchange	172			346			957			1,520
Equity	288			618			2,158			1,814
Commodity^(a)	911			212			2,209			461
Total trading revenue	$	1,795		$	1,544		$	8,037		$	7,940
Private equity gains/(losses)^(b)	(425		)	797			1,218			1,039
Principal transactions	$	1,370		$	2,341		$	9,255		$	8,979


(a)	Includes realized gains and losses and unrealized losses on physical commodities inventory that is carried at the lower of cost or market, and gains and losses on commodity derivatives and other financial instruments that are carried at fair value through income. Commodity derivatives are frequently used to manage the Firm's risk exposure to its physical commodity inventory.


(b)	Includes revenue on private equity investments held in the Private Equity business within Corporate/Private Equity, as well as those held in other business segments.

Components of asset management, administration and commissions



	Three months ended September 30,				Nine months ended September 30,
(in millions)	2011		2010		2011		2010
Asset management:
Investment management fees	$	1,463	$	1,334	$	4,612	$	3,978
All other asset management fees	159		123		451		348
Total asset management fees	1,622		1,457		5,063		4,326
Total administration fees^(a)	523		497		1,653		1,519
Commission and other fees:
Brokerage commissions	705		630		2,167		2,086
All other commissions and fees	598		604		1,874		1,871
Total commissions and fees	1,303		1,234		4,041		3,957
Total asset management, administration and commissions	$	3,448	$	3,188	$	10,757	$	9,802


(a)	Includes fees for custody, securities lending, funds services and securities clearance.

- Definition

Components of asset management, administration and commissions. Combination of: 1) Revenue recognized in the period for (A) performance (incentive) fees based on the investment results achieved for management of certain institutional accounts and hedge funds, (B) schedule-based fees earned for management of mutual funds and closed-end funds, based either on average daily net assets or on a combination of the average daily net assets and gross income, and (C) other investment management and advisory fees. 2) Acting as an agent, a broker-dealer may buy and sell securities on behalf of its customers. In return for such services, the broker-dealer charges a commission. Each time a customer enters into a buy or sell transaction, a commission is earned by the broker-dealer for its selling and administrative efforts. For securities purchased, the commission is recorded as a receivable from customers; for securities sold, it is recorded as reductions in the payable to customers. Commissions earned are usually related to the broker-dealer's customers' trading volume and the dollar amounts of the trades. In general, commissions are for smaller trades of exchange-listed stocks and bonds made by retail customers. 3)Income from services rendered by trust departments or by any consolidated subsidiaries acting in a fiduciary capacity, including fees earned for (A) acting as an agent for fiduciary placement and loans and (B) custody or investment advisory services when such fees are not separately billed to the customer. This item excludes commissions and fees received for the accumulation or disbursement of funds deposited to Individual Retirement or Keogh plan accounts when such are not handled by the reporting entity's trust department. 4) Income from agency and brokerage operations (includes sales of annuities and supplemental contracts); service charges, commissions, and fees from the sale of insurance and related services; and management fees from separate accounts, deferred annuities, and universal life products. 5) Revenues from providing transfer agent services to corporations. Such services include maintaining records of investors and account balances and transactions, canceling and issuing certificates, processing investor mailings and dealing with any associated problems (i.e. lost or stolen certificates). 6) Service revenue earned by a depository institution that holds the account balances of other financial institutions and provides services thereto. Such services include check collection and item processing. 7) Fee and commission revenue earned from sources not otherwise specified in the existing taxonomy, such as ADR fees, fund accounting fees, etc.

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