XML 72 R55.htm IDEA: XBRL DOCUMENT v3.21.2
Off-balance Sheet Lending-related Financial Instruments, Guarantees, and Other Commitments (Tables)
 9 Months Ended
Sep. 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 September 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)
September 30, 2021Dec 31,
2020		Sep 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)
$26,748 $2,030 $5,313 $10,451 $44,542 $46,047 $130 $148 
Auto and other11,255 — — 887 12,142 11,272 — — 
Total consumer, excluding credit card38,003 2,030 5,313 11,338 56,684 57,319 130 148 
Credit card(b)
710,610 — — — 710,610 658,506 — — 
Total consumer(b)(c)
748,613 2,030 5,313 11,338 767,294 715,825 130 148 
Wholesale:
Other unfunded commitments to extend credit(d)
114,200 184,046 143,335 25,311 466,892 415,828 2,087 2,148 
Standby letters of credit and other financial guarantees(d)
13,549 8,709 4,114 1,571 27,943 30,982 614 443 
Other letters of credit(d)
3,936 372 93 — 4,401 3,053 10 14 
Total wholesale(c)
131,685 193,127 147,542 26,882 499,236 449,863 2,711 2,605 
Total lending-related$880,298 $195,157 $152,855 $38,220 $1,266,530 $1,165,688 $2,841 $2,753 
Other guarantees and commitments
Securities lending indemnification agreements and guarantees(e)
$306,562 $— $— $— $306,562 $250,418 $— $— 
Derivatives qualifying as guarantees2,828 420 11,693 39,870 54,811 54,415 390 322 
Unsettled resale and securities borrowed agreements 150,495 6,839 — — 157,334 102,355 
(h)
1 2 
Unsettled repurchase and securities loaned agreements 136,019 583 — — 136,602 104,901 — (1)
Loan sale and securitization-related indemnifications:
Mortgage repurchase liabilityNANANANANANA61 84 
Loans sold with recourseNANANANA807 889 20 23 
Exchange & clearing house guarantees and commitments(f)
119,331 — — — 119,331 142,003 — — 
Other guarantees and commitments(g)
6,787 2,886 323 1,747 11,743 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 September 30, 2021, and December 31, 2020, reflected the contractual amount net of risk participations totaling $48 million and $72 million, respectively, for other unfunded commitments to extend credit; $7.9 billion and $8.5 billion, respectively, for standby letters of credit and other financial guarantees; and $609 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 September 30, 2021, and December 31, 2020, collateral held by the Firm in support of securities lending indemnification agreements was $324.0 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 September 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 September 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 September 30, 2021, and December 31, 2020.
Standby letters of credit, other financial guarantees and other letters of credit
September 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)
$19,823 $3,502 $22,850 $2,263 
Noninvestment-grade(a)
8,120 899 8,132 790 
Total contractual amount$27,943 $4,401 $30,982 $3,053 
Allowance for lending-related commitments$78 $10 $80 $14 
Guarantee liability536 — 363 — 
Total carrying value$614 $10 $443 $14 
Commitments with collateral$15,071 $929 $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 September 30, 2021, and December 31, 2020.
(in millions)September 30, 2021December 31, 2020
Notional amounts
Derivative guarantees$54,811 $54,415 
Stable value contracts with contractually limited exposure
29,741 27,752 
Maximum exposure of stable value contracts with contractually limited exposure
2,878 2,803 
Fair value
Derivative payables
390 322