Long-Term Borrowings (Tables)

6 Months Ended

Jun. 30, 2011

Long-Term Borrowings (Tables) [Abstract]

Long-term borrowings

	As of
	June		December
in millions	2011		2010
Other secured financings (long-term)	$	8,011	$	13,848
Unsecured long-term borrowings		175,210		174,399
Total	$	183,221	$	188,247

Unsecured long-term borrowings

	As of June 2011						As of December 2010
	U.S.		Non-U.S.				U.S.		Non-U.S.
in millions	Dollar		Dollar		Total		Dollar		Dollar		Total
Fixed-rate obligations 1	$	77,837	$	40,387	$	118,224	$	82,814	$	35,885	$	118,699
Floating-rate obligations 2		26,927		30,059		56,986		27,316		28,384		55,700
Total 3	$	104,764	$	70,446	$	175,210	$	110,130	$	64,269	$	174,399

1.	Interest rates on U.S. dollar-denominated debt ranged from 0.10% to 10.04% (with a weighted average rate of 5.61%) and 0.20% to 10.04% (with a weighted average rate of 5.52%) as of June 2011 and December 2010, respectively. Interest rates on non-U.S. dollar-denominated debt ranged from 0.85% to 14.85% (with a weighted average rate of 4.75%) and 0.85% to 14.85% (with a weighted average rate of 4.65%) as of June 2011 and December 2010, respectively.
2.	Floating interest rates generally are based on LIBOR or the federal funds target rate. Equity-linked and indexed instruments are included in floating-rate obligations.
3.	Includes $0 and $8.58 billion as of June 2011 and December 2010, respectively, guaranteed by the FDIC under the TLGP.

Unsecured long-term borrowings by maturity date

	As of
in millions	June 2011
2012	$	11,460
2013		23,195
2014		20,474
2015		17,685
2016		27,514
2017 − thereafter		74,882
Total 1	$	175,210

1.   Amount includes an increase of $6.23 billion to the carrying amount of certain unsecured long-term borrowings related to hedge accounting. The amounts related to the carrying value of unsecured long-term borrowings associated with the effect of hedge accounting by year of maturity are as follows: $206 million in 2012, $563 million in 2013, $696 million in 2014, $374 million in 2015, $698 million in 2016 and $3.69 billion in 2017 and thereafter.

Unsecured long-term borrowings after hedging

	As of
	June		December
in millions	2011		2010
Fixed-rate obligations
At fair value	$	516	$	22
At amortized cost 1		12,685		5,877
Floating-rate obligations
At fair value		19,615		18,148
At amortized cost 1		142,394		150,352
Total	$	175,210	$	174,399

1.   The weighted average interest rates on the aggregate amounts were 2.31% (6.25% related to fixed-rate obligations and 1.99% related to floating-rate obligations) and 1.90% (5.69% related to fixed-rate obligations and 1.74% related to floating-rate obligations) as of June 2011 and December 2010, respectively. These rates exclude financial instruments accounted for at fair value under the fair value option.

Subordinated long-term borrowings

	As of June 2011							As of December 2010
	Par		Carrying					Par		Carrying
in millions	Amount		Amount		Rate 1			Amount		Amount		Rate 1
Subordinated debt		$14,490	$	16,874		4.08	%		$14,345	$	16,977		1.19	%
Junior subordinated debt		5,085		5,613		2.44	%		5,082		5,716		2.50	%
Total subordinated borrowings		$19,575	$	22,487		3.65	%		$19,427	$	22,693		1.54	%

1.   Weighted average interest rate after giving effect to fair value hedges used to convert these fixed-rate obligations into floating-rate obligations. See Note 7 for further information about hedging activities. See below for information about interest rates on junior subordinated debt.