Commitments, Contingencies and Guarantees (Tables)

6 Months Ended

Jun. 30, 2011

Commitments, Contingencies and Guarantees (Tables) [Abstract]

Commitments

	Commitment Amount by Period
	of Expiration as of June 2011								Total Commitments as of
	Remainder		2012-		2014-		2016-		June		December
in millions	of 2011		2013		2015		Thereafter		2011		2010
Commitments to extend credit 1
Commercial lending:
Investment-grade		$ 1,652	$	8,026	$	3,788	$	3,563		$ 17,029		$ 12,330
Non-investment-grade		1,711		4,369		3,972		5,943		15,995		11,919
William Street credit extension program		2,293		13,907		9,026		5,704		30,930		27,383
Warehouse financing		63		269		—		—		332		265
Total commitments to extend credit		5,719		26,571		16,786		15,210		64,286		51,897
Contingent and forward starting resale and securities borrowing agreements 2		71,177		—		—		—		71,177		46,886
Forward starting repurchase and securities lending agreements 2		19,180		—		—		—		19,180		12,509
Underwriting commitments		188		—		—		—		188		835
Letters of credit 3		1,010		515		142		1		1,668		2,210
Investment commitments		2,339		6,698		326		923		10,286		11,093
Other		375		124		60		25		584		389
Total commitments		$99,988	$	33,908	$	17,314	$	16,159		$167,369		$125,819

1.	Commitments to extend credit are presented net of amounts syndicated to third parties.
2.	These agreements generally settle within three business days.
3.	Consists of commitments under letters of credit issued by various banks which the firm provides to counterparties in lieu of securities or cash to satisfy various collateral and margin deposit requirements.

Leases

	As of
in millions	June 2011
Remainder of 2011	$	251
2012		493
2013		428
2014		399
2015		366
2016		333
2017-thereafter		1,437
Total	$	3,707

Guarantees

	As of June 2011
	Carrying		Maximum Payout/Notional Amount by Period of Expiration
	Value of		Remainder		2012-		2014-		2016-
in millions	Net Liability		of 2011		2013		2015		Thereafter		Total
Derivatives 1	$	8,941		$282,572	$	397,688	$	72,796		$75,698	$	828,754
Securities lending indemnifications 2		—		32,604		—		—		—		32,604
Other financial guarantees 3		30		249		1,251		490		1,188		3,178

1.	These derivatives are risk managed together with derivatives that do not meet the definition of a guarantee, and therefore these amounts do not reflect the firm’s overall risk related to its derivative activities.
2.	Collateral held by the lenders in connection with securities lending indemnifications was $33.58 billion as of June 2011. Because the contractual nature of these arrangements requires the firm to obtain collateral with a market value that exceeds the value of the securities lent to the borrower, there is minimal performance risk associated with these guarantees.
3.	Other financial guarantees excludes certain commitments to issue standby letters of credit that are included in “Commitments to extend credit.” See table in “Commitments” above for a summary of the firm’s commitments.