Securities Financing Activities (Tables)

3 Months Ended

Mar. 31, 2016

Securities Financing Transactions Disclosures [Abstract]

Schedule of securities sold under repurchase agreements, netting & securities loaned

	March 31, 2016
(in millions)	Gross amounts		Amounts netted on the Consolidated balance sheets			Amounts presented in the Consolidated balance sheets(b)		Amounts not nettable on the Consolidated balance sheets(c)			Net amounts(d)
Assets
Securities purchased under resale agreements	$	415,729	$	(192,612	)	$	223,117	$	(215,528	)	$	7,589
Securities borrowed	102,937		—			102,937		(70,697		)	32,240
Liabilities
Securities sold under repurchase agreements	$	339,174	$	(192,612	)	$	146,562	$	(130,629	)	$	15,933
Securities loaned and other(a)	18,186		—			18,186		(17,990		)	196

	December 31, 2015
(in millions)	Gross amounts		Amounts netted on the Consolidated balance sheets			Amounts presented in the Consolidated balance sheets(b)		Amounts not nettable on the Consolidated balance sheets(c)			Net amounts(d)
Assets
Securities purchased under resale agreements	$	368,148	$	(156,258	)	$	211,890	$	(206,774	)	$	5,116
Securities borrowed	98,721		—			98,721		(65,081		)	33,640
Liabilities
Securities sold under repurchase agreements	$	290,044	$	(156,258	)	$	133,786	$	(118,832	)	$	14,954
Securities loaned and other(a)	22,556		—			22,556		(22,245		)	311

(a) Includes securities-for-securities lending transactions of $4.6 billion and $4.4 billion at March 31, 2016 and December 31, 2015, respectively, accounted for at fair value, where the Firm is acting as lender. These amounts are presented within other liabilities in the Consolidated balance sheets.

(b) Includes securities financing agreements accounted for at fair value. At March 31, 2016 and December 31, 2015, included securities purchased under resale agreements of $24.1 billion and $23.1 billion, respectively, securities borrowed of zero and $395 million, respectively, and securities sold under agreements to repurchase of $3.4 billion and $3.5 billion, respectively. There were no securities loaned accounted for at fair value in either period.

(c) In some cases, collateral exchanged with a counterparty exceeds the net asset or liability balance with that counterparty. In such cases, the amounts reported in this column are limited to the related asset or liability with that counterparty.

(d) Includes securities financing agreements that provide collateral rights, but where an appropriate legal opinion with respect to the master netting agreement has not been either sought or obtained. At March 31, 2016 and December 31, 2015, included $4.7 billion and $2.3 billion, respectively, of securities purchased under resale agreements; $29.8 billion and $31.3 billion, respectively, of securities borrowed; $14.0 billion and $12.6 billion, respectively, of securities sold under agreements to repurchase; and $46 million and $45 million, respectively, of securities loaned and other.

Schedule of types of assets pledged in secured financing transactions

The tables below present as of March 31, 2016, and December 31, 2015 the types of financial assets pledged in securities financing agreements and the remaining contractual maturity of the securities financing agreements.

	Gross liability balance
	March 31, 2016				December 31, 2015
(in millions)	Securities sold under repurchase agreements		Securities loaned and other(a)		Securities sold under repurchase agreements		Securities loaned and other(a)
Mortgage-backed securities	$	19,259	$	—	$	12,790	$	—
U.S. Treasury and government agencies	172,850		23		154,377		5
Obligations of U.S. states and municipalities	1,849		—		1,316		—
Non-U.S. government debt	104,834		3,108		80,162		4,426
Corporate debt securities	22,082		110		21,286		78
Asset-backed securities	5,000		—		4,394		—
Equity securities	13,300		14,945		15,719		18,047
Total	$	339,174	$	18,186	$	290,044	$	22,556

	Remaining contractual maturity of the agreements
	Overnight and continuous						Greater than 90 days
March 31, 2016 (in millions)			Up to 30 days		30 – 90 days				Total
Total securities sold under repurchase agreements	$	146,383	$	106,044	$	39,026	$	47,721	$	339,174
Total securities loaned and other(a)	9,946		437		1,348		6,455		18,186

	Remaining contractual maturity of the agreements
	Overnight and continuous						Greater than 90 days
December 31, 2015 (in millions)			Up to 30 days		30 – 90 days				Total
Total securities sold under repurchase agreements	$	114,595	$	100,082	$	29,955	$	45,412	$	290,044
Total securities loaned and other(a)	8,320		708		793		12,735		22,556

(a) Includes securities-for-securities lending transactions of $4.6 billion and $4.4 billion at March 31, 2016, and December 31, 2015, respectively, accounted for at fair value, where the Firm is acting as lender. These amounts are presented within other liabilities in the Consolidated balance sheets.