Variable Interest Entities (Tables)

6 Months Ended

Jun. 30, 2011

Variable Interest Entities (Tables) [Abstract]

Non-consolidated Variable Interest Entities

	Nonconsolidated VIEs
	As of June 2011
				Corporate		Real estate, credit-		Other
	Mortgage-			CDOs and		related and		asset-		Power-		Investment
in millions	backed			CLOs		other investing		backed		related		funds		Total
Assets in VIE	$	94,287	2	$	25,377	$	8,813	$	4,267	$	529	$	2,557	$	135,830
Carrying Value of the Firm’s Variable Interests
Assets		6,835			1,383		1,421		220		271		4		10,134
Liabilities		—			87		1		25		5		—		118
Maximum Exposure to Loss in Nonconsolidated VIEs
Retained interests		5,605			43		—		18		—		—		5,666
Purchased interests		905			701		—		190		—		—		1,796
Commitments and guarantees 1		—			1		324		—		50		—		375
Derivatives 1		2,673			8,207		—		1,152		—		—		12,032
Loans and investments		110			—		1,421		—		271		4		1,806
Total	$	9,293	2	$	8,952	$	1,745	$	1,360	$	321	$	4	$	21,675

	Nonconsolidated VIEs
	As of December 2010
				Corporate		Real estate, credit-		Other
	Mortgage-			CDOs and		related and		asset-		Power-		Investment
in millions	backed			CLOs		other investing		backed		related		funds		Total
Assets in VIE	$	88,755	2	$	21,644	$	12,568	$	5,513	$	552	$	2,330	$	131,362
Carrying Value of the Firm’s Variable Interests
Assets		8,076			909		1,063		266		239		5		10,558
Liabilities		—			114		1		19		14		—		148
Maximum Exposure to Loss in Nonconsolidated VIEs
Retained interests		6,887			50		—		12		—		—		6,949
Purchased interests		839			353		—		247		—		—		1,439
Commitments and guarantees 1		—			1		125		—		69		—		195
Derivatives 1		3,128			7,593		—		1,105		—		—		11,826
Loans and investments		104			—		1,063		—		239		5		1,411
Total	$	10,958	2	$	7,997	$	1,188	$	1,364	$	308	$	5	$	21,820

1.	The aggregate amounts include $4.10 billion and $4.52 billion as of June 2011 and December 2010, respectively, related to guarantees and derivative transactions with VIEs to which the firm transferred assets.
2.	Assets in VIE and maximum exposure to loss include $5.55 billion and $2.78 billion, respectively, as of June 2011, and $6.14 billion and $3.25 billion, respectively, as of December 2010, related to CDOs backed by mortgage obligations.

Consolidated variable interest entities

	Consolidated VIEs
	As of June 2011
					CDOs,
	Real estate,				mortgage-
	credit-related		Municipal		backed and		Principal-
	and other		bond		other asset-		protected
in millions	investing		securitizations		backed		notes		Total
Assets
Cash and cash equivalents	$	446	$	—	$	48	$	13	$	507
Cash and securities segregated for regulatory and other purposes		169		—		—		—		169
Receivables from brokers, dealers and clearing organizations		3		—		—		—		3
Receivables from customers and counterparties		—		—		17		—		17
Financial instruments owned, at fair value		2,277		191		580		699		3,747
Other assets		2,546		—		468		—		3,014
Total	$	5,441	$	191	$	1,113	$	712	$	7,457
Liabilities
Other secured financings	$	2,037	$	200	$	473	$	3,234	$	5,944
Payables to customers and counterparties		—		—		24		36		60
Financial instruments sold, but not yet purchased, at fair value		—		—		58		—		58
Unsecured short-term borrowings, including the current portion of unsecured long-term borrowings		4		—		—		2,132		2,136
Unsecured long-term borrowings		173		—		—		—		173
Other liabilities and accrued expenses		1,691		—		32		305		2,028
Total	$	3,905	$	200	$	587	$	5,707	$	10,399

	Consolidated VIEs
	As of December 2010
					CDOs,
	Real estate,				mortgage-
	credit-related		Municipal		backed and		Principal-
	and other		bond		other asset-		protected
in millions	investing		securitizations		backed		notes		Total
Assets
Cash and cash equivalents	$	248	$	—	$	39	$	52	$	339
Cash and securities segregated for regulatory and other purposes		205		—		—		—		205
Receivables from brokers, dealers and clearing organizations		4		—		—		—		4
Receivables from customers and counterparties		1		—		27		—		28
Financial instruments owned, at fair value		2,531		547		550		648		4,276
Other assets		3,369		—		499		—		3,868
Total	$	6,358	$	547	$	1,115	$	700	$	8,720
Liabilities
Other secured financings	$	2,434	$	630	$	417	$	3,224	$	6,705
Payables to customers and counterparties		—		—		12		—		12
Financial instruments sold, but not yet purchased, at fair value		—		—		55		—		55
Unsecured short-term borrowings, including the current portion of unsecured long-term borrowings		302		—		—		2,359		2,661
Unsecured long-term borrowings		6		—		—		—		6
Other liabilities and accrued expenses		2,004		—		32		—		2,036
Total	$	4,746	$	630	$	516	$	5,583	$	11,475