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Securities Financing Activities (Tables)
 12 Months Ended
Dec. 31, 2016
Securities Financing Transactions Disclosures [Abstract]  
Schedule of securities sold under repurchase agreements, netting & securities loaned
The table below summarizes the gross and net amounts of the Firm’s securities financing agreements, as of December 31, 2016, and 2015. When the Firm has obtained an appropriate legal opinion with respect to the master netting agreement with a counterparty and where other relevant netting criteria under U.S. GAAP are met, the Firm nets, on the Consolidated balance sheets, the balances outstanding under its securities financing agreements with the same counterparty. In addition, the Firm exchanges securities and/or cash collateral with its counterparties; this collateral also reduces, in the Firm’s view, the economic exposure with the counterparty. Such collateral, along with securities financing balances that do not meet all these relevant netting criteria under U.S. GAAP, is presented as “Amounts not nettable on the Consolidated balance sheets,” and reduces the “Net amounts” presented below, if the Firm has an appropriate legal opinion with respect to the master netting agreement with the counterparty. Where a legal opinion has not been either sought or obtained, the securities financing balances are presented gross in the “Net amounts” below, and related collateral does not reduce the amounts presented.
 
2016
December 31, (in millions)
Gross amounts
Amounts netted on the Consolidated balance sheets
Amounts presented on the Consolidated balance sheets(b)
Amounts not nettable on the Consolidated balance sheets(c)
Net amounts(d)
Assets
 
 
 
 
 
Securities purchased under resale agreements
$
480,735

$
(250,832
)
$
229,903

$
(222,413
)
$
7,490

Securities borrowed
96,409

—

96,409

(66,822
)
29,587

Liabilities
 
 
 
 
 
Securities sold under repurchase agreements
$
402,465

$
(250,832
)
$
151,633

$
(133,300
)
$
18,333

Securities loaned and other(a)
22,451

—

22,451

(22,177
)
274

 
2015
 
December 31, (in millions)
Gross amounts
Amounts netted on the Consolidated balance sheets
Amounts presented on 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

$
(207,958
)
$
3,932

(e) 
Securities borrowed
98,721

—

98,721

(65,081
)
33,640

 
Liabilities
 
 
 
 
 
 
Securities sold under repurchase agreements
$
290,044

$
(156,258
)
$
133,786

$
(119,332
)
$
14,454

(e) 
Securities loaned and other(a)
22,556

—

22,556

(22,245
)
311

 
(a)
Includes securities-for-securities lending transactions of $9.1 billion and $4.4 billion at December 31, 2016 and 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 December 31, 2016 and 2015, included securities purchased under resale agreements of $21.5 billion and $23.1 billion, respectively, and securities sold under agreements to repurchase of $687 million and $3.5 billion, respectively. There were no securities borrowed at December 31, 2016 and $395 million at December 31, 2015. 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 December 31, 2016 and 2015, included $4.8 billion and $2.3 billion, respectively, of securities purchased under resale agreements; $27.1 billion and $31.3 billion, respectively, of securities borrowed; $15.9 billion and $12.6 billion, respectively, of securities sold under agreements to repurchase; and $90 million and $45 million, respectively, of securities loaned and other.
(e)
Prior period amounts have been revised to conform with the current presentation.
Schedule of types of assets pledged in secured financing transactions
The tables below present as of December 31, 2016 and 2015 the types of financial assets pledged in securities financing agreements and the remaining contractual maturity of the securities financing agreements.
 
Gross liability balance
 
2016
 
2015
December 31, (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
$
10,546

$
—

 
$
12,790

$
—

U.S. Treasury and government agencies
199,030

—

 
154,377

5

Obligations of U.S. states and municipalities
2,491

—

 
1,316

—

Non-U.S. government debt
149,008

1,279

 
80,162

4,426

Corporate debt securities
18,140

108

 
21,286

78

Asset-backed securities
7,721

—

 
4,394

—

Equity securities
15,529

21,064

 
15,719

18,047

Total
$
402,465

$
22,451

 
$
290,044

$
22,556

 
Remaining contractual maturity of the agreements
 
Overnight and continuous
 
 
Greater than
90 days
 
2016 (in millions)
Up to 30 days
30 – 90 days
Total
Total securities sold under repurchase agreements
$
140,318

$
157,860

$
55,621

$
48,666

$
402,465

Total securities loaned and other(a)
13,586

1,371

2,877

4,617

22,451

 
Remaining contractual maturity of the agreements
 
Overnight and continuous
 
 
Greater than
90 days
 
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 $9.1 billion and $4.4 billion at December 31, 2016 and 2015, respectively, accounted for at fair value, where the Firm is acting as lender. These amounts are presented within other liabilities on the Consolidated balance sheets.