The Firm may reduce or close home equity lines of credit when there are significant decreases in the value of the underlying property, or when there has been a demonstrable decline in the creditworthiness of the borrower.



Off–balance sheet lending-related financial instruments, guarantees and other commitments
	Contractual amount												Carrying value^(h)
	March 31, 2016										Dec 31, 2015		Mar 31, 2016			Dec 31, 2015
By remaining maturity (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	$	3,852	$	7,304	$	1,226	$	10,072	$	22,454	$	22,756	$	—		$	—
Residential mortgage^(a)	14,257		—		—		—		14,257		12,992		—			—
Auto	9,635		1,036		149		89		10,909		10,237		2			2
Business banking	11,577		808		131		461		12,977		12,351		12			12
Student and other	10		2		—		135		147		142		—			—
Total consumer, excluding credit card	$	39,331	$	9,150	$	1,506	$	10,757	$	60,744	$	58,478	$	14		$	14
Credit card	$	532,224	$	—	$	—	$	—	$	532,224	$	515,518	$	—		$	—
Total consumer^(b)	$	571,555	$	9,150	$	1,506	$	10,757	$	592,968	$	573,996	$	14		$	14
Wholesale:
Other unfunded commitments to extend credit^(c)(d)	$	84,759	$	95,130	$	138,588	$	7,724	$	326,201	$	323,325	$	843		$	649
Standby letters of credit and other financial guarantees^(c)(d)	17,151		12,605		5,216		2,968		37,940		39,133		612			548
Other letters of credit^(c)	3,043		204		75		3		3,325		3,941		2			2
Total wholesale^(e)	$	104,953	$	107,939	$	143,879	$	10,695	$	367,466	$	366,399	$	1,457		$	1,199
Total lending-related	$	676,508	$	117,089	$	145,385	$	21,452	$	960,434	$	940,395	$	1,471		$	1,213
Other guarantees and commitments
Securities lending indemnification agreements and guarantees^(f)	$	198,921	$	—	$	—	$	—	$	198,921	$	183,329	$	—		$	—
Derivatives qualifying as guarantees	2,478		251		11,307		39,120		53,156		53,784		198			222
Unsettled reverse repurchase and securities borrowing agreements	62,371		—		—		—		62,371		42,482		—			—
Unsettled repurchase and securities lending agreements	61,720		—		—		—		61,720		21,798		—			—
Loan sale and securitization-related indemnifications:
Mortgage repurchase liability	NA		NA		NA		NA		NA		NA		148			148
Loans sold with recourse	NA		NA		NA		NA		3,979		4,274		73			82
Other guarantees and commitments^(g)	443		2,656		1,057		1,518		5,674		5,580		(88		)	(94		)


(a)	Includes certain commitments to purchase loans from correspondents.


(b)	Predominantly all consumer lending-related commitments are in the U.S.

(c)

At March 31, 2016, and December 31, 2015, reflects the contractual amount net of risk participations totaling $339 million and $385 million, respectively, for other unfunded commitments to extend credit; $11.3 billion and $11.2 billion, respectively, for standby letters of credit and other financial guarantees; and $395 million and $341 million, respectively, for other letters of credit. In regulatory filings with the Federal Reserve these commitments are shown gross of risk participations.

(d)

At March 31, 2016, and December 31, 2015, included credit enhancements and bond and commercial paper liquidity commitments to U.S. states and municipalities, hospitals and other non-profit entities of $12.2 billion and $12.3 billion, respectively, within other unfunded commitments to extend credit; and $9.2 billion and $9.6 billion, respectively, within standby letters of credit and other financial guarantees. Other unfunded commitments to extend credit also include liquidity facilities to nonconsolidated municipal bond VIEs; see Note 15.


(e)	At March 31, 2016, and December 31, 2015, the U.S. portion of the contractual amount of total wholesale lending-related commitments was 78% and 77%, respectively.


(f)	At March 31, 2016, and December 31, 2015, collateral held by the Firm in support of securities lending indemnification agreements was $206.3 billion and $190.6 billion, respectively. Securities lending collateral consists of 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.

(g)

At March 31, 2016, and December 31, 2015, included unfunded commitments of $49 million and $50 million, respectively, to third-party private equity funds; and $830 million and $871 million, at March 31, 2016, and December 31, 2015, respectively, to other equity investments. These commitments included $70 million and $73 million, respectively, related to investments that are generally fair valued at net asset value as discussed in Note 3. In addition, at both March 31, 2016, and December 31, 2015, included letters of credit hedged by derivative transactions and managed on a market risk basis of $4.6 billion.


(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.