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Off-balance Sheet Lending-related Financial Instruments, Guarantees, and Other Commitments (Tables)
 3 Months Ended
Mar. 31, 2021
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments [Abstract]  
Off-balance sheet lending related financial instruments, guarantees and other commitments The following table summarizes the contractual amounts and carrying values of off-balance sheet lending-related financial instruments, guarantees and other commitments at March 31, 2021, and December 31, 2020. The amounts in the table below for credit card, home equity and certain scored business banking lending-related commitments represent the total available credit for these products. The Firm has not experienced, and does not anticipate, that all available lines of credit for these products will be utilized at the same time. The Firm can reduce or cancel credit card and certain scored business banking lines of credit by providing the borrower notice or, in some cases as permitted by law, without notice. In addition, the Firm typically closes credit card lines when the borrower is 60 days or more past due. The Firm may reduce or close HELOCs 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(i)
March 31, 2021Dec 31,
2020		Mar 31,
2021		Dec 31,
2020
By remaining maturity
(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)
$25,751 $1,741 $4,347 $12,813 $44,652 $46,047 $203 $148 
Auto and other10,779 — 2 812 11,593 11,272 — — 
Total consumer, excluding credit card36,530 1,741 4,349 13,625 56,245 57,319 203 148 
Credit card(b)
674,367 — — — 674,367 658,506 — — 
Total consumer(b)(c)
710,897 1,741 4,349 13,625 730,612 715,825 203 148 
Wholesale:
Other unfunded commitments to extend credit(d)
111,754 179,670 130,536 20,902 442,862 415,828 2,290 2,148 
Standby letters of credit and other financial guarantees(d)
17,294 7,658 8,497 1,324 34,773 30,982 692 443 
Other letters of credit(d)
3,225 156 227 1 3,609 3,053 29 14 
Total wholesale(c)
132,273 187,484 139,260 22,227 481,244 449,863 3,011 2,605 
Total lending-related$843,170 $189,225 $143,609 $35,852 $1,211,856 $1,165,688 $3,214 $2,753 
Other guarantees and commitments
Securities lending indemnification agreements and guarantees(e)
$297,754 $— $— $— $297,754 $250,418 $— $— 
Derivatives qualifying as guarantees2,142 195 12,043 39,200 53,580 54,415 318 322 
Unsettled resale and securities borrowed agreements 151,549 2,618 — — 154,167 96,848 3 2 
Unsettled repurchase and securities loaned agreements 107,597 836 — — 108,433 104,901 (1)(1)
Loan sale and securitization-related indemnifications:
Mortgage repurchase liabilityNA— NANANANA72 84 
Loans sold with recourseNA— NANA823 889 23 23 
Exchange & clearing house guarantees and commitments(f)
84,852 — — — 84,852 142,003 — — 
Other guarantees and commitments(g)
8,545 627 363 2,417 11,952 9,639 
(h)
59 52 
(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 March 31, 2021, and December 31, 2020, reflected the contractual amount net of risk participations totaling $61 million and $72 million, respectively, for other unfunded commitments to extend credit; $8.1 billion and $8.5 billion, respectively, for standby letters of credit and other financial guarantees; and $597 million and $357 million, respectively, for other letters of credit. In regulatory filings with the Federal Reserve these commitments are shown gross of risk participations.
(e)At March 31, 2021, and December 31, 2020, collateral held by the Firm in support of securities lending indemnification agreements was $314.3 billion and $264.3 billion, respectively. Securities lending collateral primarily consists of cash, G7 government securities, and securities issued by U.S. GSEs and government agencies.
(f)At March 31, 2021, and December 31, 2020, 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.
(g)At March 31, 2021, and December 31, 2020, primarily includes unfunded commitments to purchase secondary market loans, unfunded commitments related to certain tax-oriented equity investments, and letters of credit hedged by derivative transactions and managed on a market risk basis.
(h)Prior-period amount has been revised to conform with the current presentation.
(i)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 March 31, 2021, and December 31, 2020.
Standby letters of credit, other financial guarantees and other letters of credit
March 31, 2021December 31, 2020
(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)
$26,608 $2,747 $22,850 $2,263 
Noninvestment-grade(a)
8,165 862 8,132 790 
Total contractual amount$34,773 $3,609 $30,982 $3,053 
Allowance for lending-related commitments$82 $29 $80 $14 
Guarantee liability610 — 363 — 
Total carrying value$692 $29 $443 $14 
Commitments with collateral$21,434 $879 $17,238 $498 
(a)The ratings scale is based on the Firm’s internal risk ratings. Refer to Note 11 for further information on internal risk ratings.
Derivatives qualifying as guarantees
The following table summarizes the derivatives qualifying as guarantees as of March 31, 2021, and December 31, 2020.
(in millions)March 31, 2021December 31, 2020
Notional amounts
Derivative guarantees$53,580 $54,415 
Stable value contracts with contractually limited exposure
27,782 27,752 
Maximum exposure of stable value contracts with contractually limited exposure
2,805 2,803 
Fair value
Derivative payables
318 322