Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Summary of Financial Assets and Liabilities Carried at Fair Value

The table below presents financial assets and liabilities carried at fair value.

	As of
	September			June		December
$ in millions	2022			2022		2021
Total level 1 financial assets	$	249,307		$	249,974	$	255,774
Total level 2 financial assets	490,992			526,910		498,527
Total level 3 financial assets	29,275			28,884		24,083
Investments in funds at NAV	2,971			3,045		3,469
Counterparty and cash collateral netting	(77,707)			(70,198)		(66,041)
Total financial assets at fair value	$	694,838		$	738,615	$	715,812
Total assets	$	1,555,994		$	1,601,224	$	1,463,988
Total level 3 financial assets divided by:
Total assets	1.9		%	1.8%		1.6%
Total financial assets at fair value	4.2		%	3.9%		3.4%
Total level 1 financial liabilities	$	137,956		$	168,941	$	110,030
Total level 2 financial liabilities	434,313			435,827		403,627
Total level 3 financial liabilities	23,268			24,470		29,169
Counterparty and cash collateral netting	(60,573)			(50,926)		(51,269)
Total financial liabilities at fair value	$	534,964		$	578,312	$	491,557
Total liabilities	$	1,436,704		$	1,483,353	$	1,354,062
Total level 3 financial liabilities divided by:
Total liabilities	1.6		%	1.6%		2.2%
Total financial liabilities at fair value	4.3		%	4.2%		5.9%

In the table above:

•Counterparty netting among positions classified in the same level is included in that level.

•Counterparty and cash collateral netting represents the impact on derivatives of netting across levels.

Summary of Level 3 Financial Assets

The table below presents a summary of level 3 financial assets.

	As of
	September		June		December
$ in millions	2022		2022		2021
Trading assets:
Trading cash instruments	$	1,828	$	2,080	$	1,889
Derivatives	8,435		8,348		5,938
Investments	16,954		16,109		13,902
Loans	2,058		2,347		2,354
Total	$	29,275	$	28,884	$	24,083