Credit Concentrations (Tables)

12 Months Ended

Dec. 31, 2022

Risks and Uncertainties [Abstract]

Credit Concentrations Included in Trading Cash Instruments and Investments

The table below presents the credit concentrations included in trading cash instruments and investments.

	As of December
$ in millions	2022			2021
U.S. government and agency obligations	$	205,935		$	141,191
Percentage of total assets	14.3		%	9.6		%
Non-U.S. government and agency obligations	$	40,334		$	51,426
Percentage of total assets	2.8		%	3.5		%

U.S. Government and Agency Obligations and Non-U.S. Government and Agency Obligations that Collateralize Resale Agreements and Securities Borrowed Transactions

The table below presents U.S. government and agency obligations and non-U.S. government and agency obligations that collateralize resale agreements and securities borrowed transactions.

	As of December
$ in millions	2022		2021
U.S. government and agency obligations	$	164,897	$	86,274
Non-U.S. government and agency obligations	$	76,456	$	141,588

In the table above:

•Non-U.S. government and agency obligations primarily consists of securities issued by the governments of the U.K., Japan, Germany and France.

•Given that the firm’s primary credit exposure on such transactions is to the counterparty to the transaction, the firm would be exposed to the collateral issuer only in the event of counterparty default.