XML 96 R69.htm IDEA: XBRL DOCUMENT v3.20.4
Off-balance Sheet Lending-related Financial Instruments, Guarantees, and Other Commitments (Tables)
 12 Months Ended
Dec. 31, 2020
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments [Abstract]  
Off-balance sheet lending related financial instruments, guarantees and other commitments
Off–balance sheet lending-related financial instruments, guarantees and other commitments
Contractual amount
Carrying value(j)
2020201920202019
By remaining maturity at December 31,
(in millions)		Expires in 1 year or lessExpires after
1 year through
3 years		Expires after
3 years through
5 years		Expires after 5 yearsTotalTotal
Lending-related
Consumer, excluding credit card:
Residential Real Estate(a)
$26,788 $1,597 $3,962 $13,700 $46,047 $30,217 148 12 
Auto and other10,471 1 8 792 11,272 9,952 — — 
Total consumer, excluding credit card37,259 1,598 3,970 14,492 57,319 40,169 148 12 
Credit card(b)
658,506 — — — 658,506 650,720 — — 
Total consumer(b)(c)
695,765 1,598 3,970 14,492 715,825 690,889 148 12 
Wholesale:
Other unfunded commitments to extend credit(d)(e)
96,490 174,335 128,736 16,267 415,828 380,307 2,148 952 
Standby letters of credit and other financial guarantees(d)
17,478 7,986 4,051 1,467 30,982 34,242 443 618 
Other letters of credit(d)
2,982 45 26 — 3,053 2,961 14 4 
Total wholesale(c)
116,950 182,366 132,813 17,734 449,863 417,510 2,605 1,574 
Total lending-related$812,715 $183,964 $136,783 $32,226 $1,165,688 $1,108,399 $2,753 $1,586 
Other guarantees and commitments
Securities lending indemnification agreements and guarantees(f)
$250,418 $— $— $— $250,418 $204,827 $— $— 
Derivatives qualifying as guarantees2,489 541 12,182 39,203 54,415 53,089 322 159 
Unsettled resale and securities borrowed agreements95,084 1,764 — — 96,848 117,951 2 — 
Unsettled repurchase and securities loaned agreements
104,289 612 — — 104,901 73,351 (1)— 
Loan sale and securitization-related indemnifications:
Mortgage repurchase liabilityNANANANANANA84 59 
Loans sold with recourseNANANANA889 944 23 27 
Exchange & clearing house guarantees and commitments(g)
142,003 — — — 142,003 206,432 — — 
Other guarantees and commitments (e)(h)
2,457 574 758 2,541 6,330 6,334 
(i)
52 (66)
(a)Includes certain commitments to purchase loans from correspondents.
(b)Also includes commercial card lending-related commitments primarily in CB and CIB.
(c)Predominantly all consumer and wholesale lending-related commitments are in the U.S.
(d)At December 31, 2020 and 2019, reflected the contractual amount net of risk participations totaling $72 million and $76 million, respectively, for other unfunded commitments to extend credit; $8.5 billion and $9.8 billion, respectively, for standby letters of credit and other financial guarantees; and $357 million and $546 million, respectively, for other letters of credit. In regulatory filings with the Federal Reserve these commitments are shown gross of risk participations.
(e)In the third quarter of 2020, the Firm reclassified certain fair value option elected lending-related positions from trading assets to loans, which resulted in a corresponding reclassification of commitments from Other guarantees and commitments to Wholesale other unfunded commitments to extend credit. Prior-period amounts have been revised to conform with the current presentation.
(f)At December 31, 2020 and 2019, collateral held by the Firm in support of securities lending indemnification agreements was $264.3 billion and $216.2 billion, respectively. Securities lending collateral primarily consists of cash, G7 government securities, and securities issued by U.S. GSEs and government agencies.
(g)At December 31, 2020 and 2019, includes guarantees to the Fixed Income Clearing Corporation under the sponsored member repo program and commitments and guarantees associated with the Firm’s membership in certain clearing houses.
(h)At December 31, 2020 and 2019, primarily includes letters of credit hedged by derivative transactions and managed on a market risk basis, and unfunded commitments related to certain tax-oriented equity investments.
(i)Prior-period amounts have been revised to conform with the current presentation.
(j)For lending-related products, the carrying value represents the allowance for lending-related commitments and the guarantee liability; for derivative-related products, and lending-related commitments for which the fair value option was elected, the carrying value represents the fair value.
Standby letters of credit, other financial guarantees and other letters of credit
The following table summarizes the contractual amount and carrying value of standby letters of credit and other financial guarantees and other letters of credit arrangements as of December 31, 2020 and 2019.
Standby letters of credit, other financial guarantees and other letters of credit
20202019
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)
$22,850 $2,263 $26,880 $2,137 
Noninvestment-grade(a)
8,132 790 7,362 824 
Total contractual amount$30,982 $3,053 $34,242 $2,961 
Allowance for lending-related commitments$80 $14 $216 $4 
Guarantee liability363 — 402 — 
Total carrying value$443 $14 $618 $4 
Commitments with collateral$17,238 $498 $17,853 $728 
(a)The ratings scale is based on the Firm’s internal risk ratings. Refer to Note 12 for further information on internal risk ratings.
Schedule of derivatives qualifying as guarantees
The following table summarizes the derivatives qualifying as guarantees as of December 31, 2020 and 2019.
(in millions)December 31, 2020December 31, 2019
Notional amounts
Derivative guarantees$54,415 $53,089 
Stable value contracts with contractually limited exposure
27,752 28,877 
Maximum exposure of stable value contracts with contractually limited exposure
2,803 2,967 
Fair value
Derivative payables322 159