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Commitments, Contingencies and Guarantees (Tables)
 12 Months Ended
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments
The table below presents commitments by type.
 
As of December
$ in millions20222021
Commitment Type  
Commercial lending:  
Investment-grade$97,659 $95,585 
Non-investment-grade56,265 69,635 
Warehouse financing9,116 10,391 
Consumer
64,098 35,941 
Total lending227,138 211,552 
Risk participations9,173 10,016 
Collateralized agreement105,301 101,031 
Collateralized financing22,532 29,561 
Investment7,705 11,381 
Other9,690 9,143 
Total commitments$381,539 $372,684 
The table below presents commitments by expiration.
As of December 2022
2024 -2026 -2028 -
$ in millions202320252027Thereafter
Commitment Type    
Commercial lending:    
Investment-grade$14,764 $26,601 $54,258 $2,036 
Non-investment-grade4,850 17,875 27,601 5,939 
Warehouse financing1,633 6,248 1,197 38 
Consumer
64,097 1 – – 
Total lending85,344 50,725 83,056 8,013 
Risk participations2,932 3,394 2,760 87 
Collateralized agreement104,392 909 – – 
Collateralized financing21,816 716 – – 
Investment1,266 1,379 2,344 2,716 
Other9,168 285 – 237 
Total commitments$224,918 $57,408 $88,160 $11,053 
Lending Commitments
The table below presents information about lending commitments.
 
As of December
$ in millions20222021
Held for investment$222,689 $197,120 
Held for sale3,355 13,175 
At fair value1,094 1,257 
Total$227,138 $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 $1.01 billion (including allowance for credit losses of $774 million) as of December 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 $5.95 billion as of December 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, $3.11 billion as of December 2022 and $1.91 billion as of December 2021 would have been classified in level 2, and $2.84 billion as of December 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 $88 million as of December 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 December 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 December 2022   
Carrying Value of Net Liability$7,485 $– $395 
Maximum Payout/Notional Amount by Period of Expiration
2023$110,599 $20,970 $1,634 
2024 - 2025133,090 – 3,308 
2026 - 202720,252 – 1,837 
2028 - thereafter27,518 – 93 
Total$291,459 $20,970 $6,872 
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 $578 million as of December 2022 and $1.10 billion as of December 2021, and derivative liabilities of $8.06 billion as of December 2022 and $4.51 billion as of December 2021.