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Off-balance Sheet Lending-related Financial Instruments, Guarantees, and Other Commitments (Tables)
 9 Months Ended
Sep. 30, 2024
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, 2024 and December 31, 2023. 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(h)(i)
September 30, 2024Dec 31,
2023		Sep 30,
2024		Dec 31,
2023
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)
$10,843 $7,347 $5,046 $8,204 $31,440 $30,125 $563 
(j)
$678 
(j)
Auto and other10,261 18 — 3,603 13,882 15,278 55 
(j)
148 
(j)
Total consumer, excluding credit card21,104 7,365 5,046 11,807 45,322 45,403 618 826 
Credit card(b)
989,594 — — — 989,594 915,658 — — 
Total consumer(c)
1,010,698 7,365 5,046 11,807 1,034,916 961,061 618 826 
Wholesale:
Other unfunded commitments to extend credit(d)
107,885 202,960 172,960 24,492 508,297 503,526 2,695 
(j)
2,797 
(j)
Standby letters of credit and other financial guarantees(d)
15,995 9,386 3,367 477 29,225 28,872 484 479 
Other letters of credit(d)
3,596 305 36 101 4,038 4,388 38 37 
Total wholesale(c)
127,476 212,651 176,363 25,070 541,560 536,786 3,217 3,313 
Total lending-related$1,138,174 $220,016 $181,409 $36,877 $1,576,476 $1,497,847 $3,835 $4,139 
Other guarantees and commitments
Securities lending indemnification agreements and guarantees(e)
$334,224 $— $— $— $334,224 $283,664 $— $— 
Derivatives qualifying as guarantees1,554 327 10,311 40,957 53,149 54,562 67 89 
Unsettled resale and securities borrowed agreements
153,695 267 — — 153,962 95,106 

2 — 
Unsettled repurchase and securities loaned agreements
94,694 568 — — 95,262 60,724 (3)— 
Loan sale and securitization-related indemnifications:
Mortgage repurchase liabilityNANANANANANA45 76 
Loans sold with recourseNANANANA961 803 21 24 
Exchange & clearing house guarantees and commitments(f)
268,646 — — — 268,646 265,887 — — 
Other guarantees and commitments(g)
10,837 742 267 833 12,679 15,074 29 38 
(a)Includes certain commitments to purchase loans from correspondents.
(b)Also includes commercial card lending-related commitments primarily in CIB.
(c)Predominantly all consumer and wholesale lending-related commitments are in the U.S.
(d)As of September 30, 2024 and December 31, 2023, reflected the contractual amount net of risk participations totaling $94 million and $88 million, respectively, for other unfunded commitments to extend credit; $9.6 billion and $8.2 billion, respectively, for standby letters of credit and other financial guarantees; $548 million and $589 million, respectively, for other letters of credit. In regulatory filings with the Federal Reserve these commitments are shown gross of risk participations.
(e)As of September 30, 2024 and December 31, 2023, collateral held by the Firm in support of securities lending indemnification agreements was $355.7 billion and $300.3 billion, respectively. Securities lending collateral primarily consists of cash, G7 government securities, and securities issued by U.S. GSEs and government agencies.
(f)As of September 30, 2024 and December 31, 2023, 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)As of September 30, 2024 and December 31, 2023, primarily includes unfunded commitments to purchase secondary market loans, other equity investment commitments, and unfunded commitments related to certain tax-oriented equity investments, and reflects the impact of adopting updates to the Accounting for Investments in Tax Credit Structures guidance effective January 1, 2024.
(h)For lending-related products, the carrying value includes 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.
(i)For lending-related commitments, the carrying value also includes fees and any purchase discounts or premiums that are deferred and recognized in accounts payable and other liabilities on the Consolidated balance sheets. Deferred amounts for revolving commitments and commitments not expected to fund, are amortized to lending- and deposit-related fees on a straight line basis over the commitment period. For all other commitments the deferred amounts remain deferred until the commitment funds or is sold.
(j)As of September 30, 2024 and December 31, 2023, includes fair value adjustments associated with First Republic for residential real estate lending-related commitments totaling $505 million and $630 million, respectively, for auto and other lending-related commitments totaling $55 million and $148 million, respectively, and for other unfunded commitments to extend credit totaling $769 million and $1.1 billion, respectively. Refer to Note 26 for additional information.
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, 2024 and December 31, 2023.
Standby letters of credit, other financial guarantees and other letters of credit
September 30, 2024December 31, 2023
(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)
$20,602 $3,128 $19,694 $3,552 
Noninvestment-grade(a)
8,623 910 9,178 836 
Total contractual amount$29,225 $4,038 $28,872 $4,388 
Allowance for lending-related commitments$102 $38 $110 $37 
Guarantee liability382 — 369 — 
Total carrying value$484 $38 $479 $37 
Commitments with collateral$16,305 $384 $16,861 $539 
(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, 2024 and December 31, 2023.
(in millions)September 30, 2024December 31, 2023
Notional amounts
Derivative guarantees$53,149 $54,562 
Stable value contracts with contractually limited exposure
32,548 32,488 
Maximum exposure of stable value contracts with contractually limited exposure
1,660 1,652 
Fair value
Derivative payables
67 89