XML 21 R12.htm IDEA: XBRL DOCUMENT v3.22.2
Trading Assets and Liabilities
 6 Months Ended
Jun. 30, 2022
Trading Assets And Liabilities [Abstract]  
Trading Assets and Liabilities Trading Assets and Liabilities
Trading assets and liabilities consisted of the following:
June 30, 2022December 31, 2021
 (in millions)
Trading assets:
U.S. Treasury$1,964 $2,337 
U.S. Government sponsored enterprises398 432 
Foreign bonds1,606 167 
Equity securities9,065 15,795 
Precious metals3,372 3,907 
Derivatives, net2,303 1,405 
Total trading assets$18,708 $24,043 
Trading liabilities:
Securities sold, not yet purchased$907 $1,103 
Payables for precious metals340 46 
Derivatives, net2,519 1,874 
Total trading liabilities$3,766 $3,023 
At June 30, 2022 and December 31, 2021, the fair value of derivatives included in trading assets is net of $3,410 million and $1,419 million, respectively, relating to amounts recognized for the obligation to return cash collateral received under master netting agreements with derivative counterparties.
At June 30, 2022 and December 31, 2021, the fair value of derivatives included in trading liabilities is net of $1,671 million and $1,296 million, respectively, relating to amounts recognized for the right to reclaim cash collateral paid under master netting agreements with derivative counterparties.
See Note 10, "Derivative Financial Instruments," for further information on our trading derivatives and related collateral.
Dividend income on equity securities held for trading, which is recorded in interest income in the consolidated statement of income, totaled $42 million and $90 million during the three and six months ended June 30, 2022, respectively, compared with $38 million and $64 million during the three and six months ended June 30, 2021, respectively. Trading security positions are held as economic hedges of derivative products issued to our clients.