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Commitments, Contingencies and Guarantees (Tables)
 9 Months Ended
Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments
The table below presents commitments by type.
 As of
SeptemberDecember
$ in millions20222021
Commitment Type  
Commercial lending:  
Investment-grade$95,229 $95,585 
Non-investment-grade57,231 69,635 
Warehouse financing8,865 10,391 
Consumer
61,612 35,941 
Total lending222,937 211,552 
Risk participations9,486 10,016 
Collateralized agreement104,691 101,031 
Collateralized financing33,858 29,561 
Investment7,246 11,381 
Other12,514 9,143 
Total commitments$390,732 $372,684 
The table below presents commitments by expiration.
As of September 2022
Remainder of2023 - 2025 - 2027 -
$ in millions202220242026Thereafter
Commitment Type    
Commercial lending:    
Investment-grade$3,472 $26,957 $41,053 $23,747 
Non-investment-grade2,040 15,452 23,532 16,207 
Warehouse financing— 5,497 2,989 379 
Consumer
60,677 935 — — 
Total lending66,189 48,841 67,574 40,333 
Risk participations243 5,852 2,261 1,130 
Collateralized agreement95,230 9,461 — — 
Collateralized financing30,495 3,363 — — 
Investment1,110 1,325 509 4,302 
Other9,315 2,923 28 248 
Total commitments$202,582 $71,765 $70,372 $46,013 
Lending Commitments
The table below presents information about lending commitments.
 As of
SeptemberDecember
$ in millions20222021
Held for investment$216,644 $197,120 
Held for sale4,820 13,175 
At fair value1,473 1,257 
Total$222,937 $211,552 
In the table above:
•Held for investment lending commitments are accounted for at amortized cost. The carrying value of lending commitments was a liability of $958 million (including allowance for credit losses of $739 million) as of September 2022 and $1.05 billion (including allowance for credit losses of $776 million) as of December 2021. The estimated fair value of such lending commitments was a liability of $6.70 billion as of September 2022 and $4.17 billion as of December 2021. Had these lending commitments been carried at fair value and included in the fair value hierarchy, $4.00 billion as of September 2022 and $1.91 billion as of December 2021 would have been classified in level 2, and $2.70 billion as of September 2022 and $2.26 billion as of December 2021 would have been classified in level 3.
•Held for sale lending commitments are accounted for at the lower of cost or fair value. The carrying value of lending commitments held for sale was a liability of $130 million as of September 2022 and $91 million as of December 2021. The estimated fair value of such lending commitments approximates the carrying value. Had these lending commitments been included in the fair value hierarchy, they would have been primarily classified in level 3 as of both September 2022 and December 2021.
•Gains or losses related to lending commitments at fair value, if any, are generally recorded net of any fees in other principal transactions.
Guarantees
The table below presents derivatives that meet the definition of a guarantee, securities lending and clearing guarantees and certain other financial guarantees.
$ in millionsDerivativesSecurities
 lending and
 clearing		Other
 financial
 guarantees
As of September 2022   
Carrying Value of Net Liability$7,849 $— $400 
Maximum Payout/Notional Amount by Period of Expiration
Remainder of 2022$21,519 $14,041 $499 
2023 - 2024145,915 — 3,757 
2025 - 202637,383 — 2,376 
2027 - thereafter33,490 — 421 
Total$238,307 $14,041 $7,053 
As of December 2021   
Carrying Value of Net Liability$3,406 $— $234 
Maximum Payout/Notional Amount by Period of Expiration
2022$68,212 $11,046 $871 
2023 - 202448,273 — 3,608 
2025 - 202619,706 — 2,015 
2027 - thereafter30,006 — 97 
Total$166,197 $11,046 $6,591 
In the table above:
•The maximum payout is based on the notional amount of the contract and does not represent anticipated losses.
•Amounts exclude certain commitments to issue standby letters of credit that are included in lending commitments. See the tables in “Commitments” above for a summary of the firm’s commitments.
•The carrying value for derivatives included derivative assets of $682 million as of September 2022 and $1.10 billion as of December 2021, and derivative liabilities of $8.53 billion as of September 2022 and $4.51 billion as of December 2021.