Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments (Tables)

12 Months Ended

Dec. 31, 2012

Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments [Abstract]

Off-Balance Sheet Lending Related Financial Instruments, and Guarantees and Other Commitments [Table Text Block]

Off–balance sheet lending-related financial instruments, guarantees and other commitments
	Contractual amount												Carrying value(h)
	2012										2011		2012			2011
By remaining maturity at December 31, (in millions)	Expires in 1 year or less		Expires after 1 year through 3 years		Expires after 3 years through 5 years		Expires after 5 years		Total		Total
Lending-related
Consumer, excluding credit card:
Home equity – senior lien	$	2,039	$	5,208	$	4,848	$	3,085	$	15,180	$	16,542	$	—		$	—
Home equity – junior lien	3,739		8,343		6,361		3,353		21,796		26,408		—			—
Prime mortgage	4,107		—		—		—		4,107		1,500		—			—
Subprime mortgage	—		—		—		—		—		—		—			—
Auto	6,916		111		127		31		7,185		6,694		1			1
Business banking	10,160		476		94		362		11,092		10,299		6			6
Student and other	128		189		8		471		796		864		—			—
Total consumer, excluding credit card	27,089		14,327		11,438		7,302		60,156		62,307		7			7
Credit card	533,018		—		—		—		533,018		530,616		—			—
Total consumer	560,107		14,327		11,438		7,302		593,174		592,923		7			7
Wholesale:
Other unfunded commitments to extend credit(a)(b)	57,443		81,575		97,394		6,813		243,225		215,251		377			347
Standby letters of credit and other financial guarantees(a)(b)(c)(d)	28,641		31,270		39,076		1,942		100,929		101,899		647			696
Unused advised lines of credit	73,967		10,328		375		417		85,087		60,203		—			—
Other letters of credit(a)(d)	4,276		1,169		74		54		5,573		5,386		2			2
Total wholesale	164,327		124,342		136,919		9,226		434,814		382,739		1,026			1,045
Total lending-related	$	724,434	$	138,669	$	148,357	$	16,528	$	1,027,988	$	975,662	$	1,033		$	1,052
Other guarantees and commitments
Securities lending indemnification agreements and guarantees(e)	$	166,493	$	—	$	—	$	—	$	166,493	$	186,077	NA			NA
Derivatives qualifying as guarantees	2,336		2,441		19,946		37,015		61,738		75,593		$	42		$	457
Unsettled reverse repurchase and securities borrowing agreements(f)	34,871		—		—		—		34,871		39,939		—			—
Loan sale and securitization-related indemnifications:
Mortgage repurchase liability	NA		NA		NA		NA		NA		NA		2,811			3,557
Loans sold with recourse	NA		NA		NA		NA		9,305		10,397		141			148
Other guarantees and commitments(g)	609		319		1,400		4,452		6,780		6,321		(75		)	(5		)

(a) At December 31, 2012 and 2011, reflects the contractual amount net of risk participations totaling $473 million and $1.1 billion, respectively, for other unfunded commitments to extend credit; $16.6 billion and $19.8 billion, respectively, for standby letters of credit and other financial guarantees; and $690 million and $974 million, respectively, for other letters of credit. In regulatory filings with the Federal Reserve these commitments are shown gross of risk participations.

(b) At December 31, 2012 and 2011, included credit enhancements and bond and commercial paper liquidity commitments to U.S. states and municipalities, hospitals and other non-profit entities of $44.5 billion and $48.6 billion, respectively. These commitments also include liquidity facilities to nonconsolidated municipal bond VIEs; for further information, see Note 16 on pages 280–291 of this Annual Report.

(c) At December 31, 2012 and 2011, included unissued standby letters of credit commitments of $44.4 billion and $44.1 billion, respectively.

(d) At December 31, 2012 and 2011, JPMorgan Chase held collateral relating to $42.7 billion and $41.5 billion, respectively, of standby letters of credit; and $1.1 billion and $1.3 billion, respectively, of other letters of credit.

(e) At December 31, 2012 and 2011, collateral held by the Firm in support of securities lending indemnification agreements was $165.1 billion and $186.3 billion, respectively. Securities lending collateral comprises primarily cash and securities issued by governments that are members of the Organisation for Economic Co-operation and Development (“OECD”) and U.S. government agencies.

(f) At December 31, 2012 and 2011, the amount of commitments related to forward-starting reverse repurchase agreements and securities borrowing agreements were $13.2 billion and $14.4 billion, respectively. Commitments related to unsettled reverse repurchase agreements and securities borrowing agreements with regular-way settlement periods were $21.7 billion and $25.5 billion, at December 31, 2012 and 2011, respectively.

(g) At December 31, 2012 and 2011, included unfunded commitments of $370 million and $789 million, respectively, to third-party private equity funds; and $1.5 billion and $1.5 billion, respectively, to other equity investments. These commitments included $333 million and $820 million, respectively, related to investments that are generally fair valued at net asset value as discussed in Note 3 on pages 196–214 of this Annual Report. In addition, at December 31, 2012 and 2011, included letters of credit hedged by derivative transactions and managed on a market risk basis of $4.5 billion and $3.9 billion, respectively.

(h) For lending-related products, the carrying value represents the allowance for lending-related commitments and the guarantee liability; for derivative-related products, the carrying value represents the fair value.

Standby Letters of Credit, Other Financial Guarantees and Other Letters of Credit [Table Text Block]

The following table summarizes the types of facilities under which standby letters of credit and other letters of credit arrangements are outstanding by the ratings profiles of the Firm’s customers, as of December 31, 2012 and 2011.

Standby letters of credit, other financial guarantees and other letters of credit

	2012						2011
December 31, (in millions)	Standby letters of credit and other financial guarantees				Other letters of credit		Standby letters of credit and other financial guarantees				Other letters of credit
Investment-grade(a)		$	77,081		$	3,998		$	78,884		$	4,105
Noninvestment-grade(a)		23,848			1,575			23,015			1,281
Total contractual amount		$	100,929	(b)	$	5,573		$	101,899	(b)	$	5,386
Allowance for lending-related commitments		$	282		$	2		$	317		$	2
Commitments with collateral		42,654			1,145			41,529			1,264

(a) The ratings scale is based on the Firm’s internal ratings which generally correspond to ratings as defined by S&P and Moody’s.

(b) At December 31, 2012 and 2011, included unissued standby letters of credit commitments of $44.4 billion and $44.1 billion, respectively.

Summary of Changes in Mortgage Repurchase Liability [Table Text Block]

The following table summarizes the change in the mortgage repurchase liability for each of the periods presented.

Summary of changes in mortgage repurchase liability^(a)  

Year ended December 31, (in millions)	2012			2011			2010
Repurchase liability at beginning of period	$	3,557		$	3,285		$	1,705
Realized losses(b)	(1,158		)	(1,263		)	(1,423		)
Provision for repurchase losses(c)	412			1,535			3,003
Repurchase liability at end of period	$	2,811		$	3,557		$	3,285

(a) All mortgage repurchase demands associated with private-label securitizations are separately evaluated by the Firm in establishing its litigation reserves.

(b) Includes principal losses and accrued interest on repurchased loans, “make-whole” settlements, settlements with claimants, and certain related expense. Make-whole settlements were $524 million, $640 million and $632 million, for the years ended December 31, 2012, 2011 and 2010, respectively.

(c) Includes $112 million, $52 million and $47 million of provision related to new loan sales for the years ended December 31, 2012, 2011 and 2010, respectively.