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Off-balance Sheet Lending-related Financial Instruments, Guarantees, and Other Commitments (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 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)
June 30, 2021Dec 31,
2020		Jun 30,
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)
$26,071 $1,900 $4,789 $11,633 $44,393 $46,047 $103 $148 
Auto and other11,660 — — 822 12,482 11,272 — — 
Total consumer, excluding credit card37,731 1,900 4,789 12,455 56,875 57,319 103 148 
Credit card(b)
682,531 — — — 682,531 658,506 — — 
Total consumer(b)(c)
720,262 1,900 4,789 12,455 739,406 715,825 103 148 
Wholesale:
Other unfunded commitments to extend credit(d)
116,310 186,067 138,839 22,357 463,573 415,828 2,796 2,148 
Standby letters of credit and other financial guarantees(d)
17,489 7,622 8,471 1,294 34,876 30,982 663 443 
Other letters of credit(d)
3,753 164 249 1 4,167 3,053 8 14 
Total wholesale(c)
137,552 193,853 147,559 23,652 502,616 449,863 3,467 2,605 
Total lending-related$857,814 $195,753 $152,348 $36,107 $1,242,022 $1,165,688 $3,570 $2,753 
Other guarantees and commitments
Securities lending indemnification agreements and guarantees(e)
$303,869 $— $— $— $303,869 $250,418 $— $— 
Derivatives qualifying as guarantees5,509 130 11,603 39,859 57,101 54,415 308 322 
Unsettled resale and securities borrowed agreements 173,862 2,129 — — 175,991 102,355 
(h)
— 2 
Unsettled repurchase and securities loaned agreements 109,014 596 — — 109,610 104,901 — (1)
Loan sale and securitization-related indemnifications:
Mortgage repurchase liabilityNANANANANANA72 84 
Loans sold with recourseNANANANA822 889 21 23 
Exchange & clearing house guarantees and commitments(f)
109,977 — — — 109,977 142,003 — — 
Other guarantees and commitments(g)
6,506 2,945 328 1,727 11,506 9,639 
(h)
51 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 June 30, 2021, and December 31, 2020, reflected the contractual amount net of risk participations totaling $70 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 $808 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 June 30, 2021, and December 31, 2020, collateral held by the Firm in support of securities lending indemnification agreements was $320.6 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 June 30, 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 June 30, 2021, and December 31, 2020, primarily includes unfunded commitments to purchase secondary market loans, unfunded commitments related to certain tax-oriented equity investments, and other equity investment commitments,
(h)Prior-period amounts have 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 June 30, 2021, and December 31, 2020.
Standby letters of credit, other financial guarantees and other letters of credit
June 30, 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)
$26,955 $3,072 $22,850 $2,263 
Noninvestment-grade(a)
7,921 1,095 8,132 790 
Total contractual amount$34,876 $4,167 $30,982 $3,053 
Allowance for lending-related commitments$67 $8 $80 $14 
Guarantee liability596 — 363 — 
Total carrying value$663 $8 $443 $14 
Commitments with collateral$21,401 $886 $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 June 30, 2021, and December 31, 2020.
(in millions)June 30, 2021December 31, 2020
Notional amounts
Derivative guarantees$57,101 $54,415 
Stable value contracts with contractually limited exposure
29,410 27,752 
Maximum exposure of stable value contracts with contractually limited exposure
2,813 2,803 
Fair value
Derivative payables
308 322