Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2012

Variable Interest Entities [Abstract]

Non-consolidated Variable Interest Entities

	Nonconsolidated VIEs
	As of December 2012
in millions		Mortgage- backed		Corporate CDOs and CLOs	Real estate, credit-related and other investing	Other asset- backed	Power- related	Investment funds	Total
Assets in VIE		$79,171	2	$23,842	$9,244	$3,510	$147	$1,898	$117,812
Carrying Value of the Firm’s Variable Interests
Assets		6,269		1,193	1,801	220	32	4	9,519
Liabilities		—		12	—	30	—	—	42
Maximum Exposure to Loss in Nonconsolidated VIEs
Retained interests		4,761		51	—	—	—	—	4,812
Purchased interests		1,162		659	—	204	—	—	2,025
Commitments and guarantees 1		—		1	438	—	—	1	440
Derivatives 1		1,574		6,761	—	952	—	—	9,287
Loans and investments		39		—	1,801	—	32	4	1,876
Total		$  7,536	2	$  7,472	$2,239	$1,156	$  32	$       5	$  18,440
	Nonconsolidated VIEs
	As of December 2011
in millions		Mortgage- backed		Corporate CDOs and CLOs	Real estate, credit-related and other investing	Other asset- backed	Power- related	Investment funds	Total
Assets in VIE		$94,047	2	$20,340	$8,974	$4,593	$519	$2,208	$130,681
Carrying Value of the Firm’s Variable Interests
Assets		7,004		911	1,495	352	289	5	10,056
Liabilities		—		63	3	24	2	—	92
Maximum Exposure to Loss in Nonconsolidated VIEs
Retained interests		5,745		32	—	—	—	—	5,777
Purchased interests		962		368	—	333	—	—	1,663
Commitments and guarantees 1		—		1	373	—	46	—	420
Derivatives 1		2,469		7,529	—	1,221	—	—	11,219
Loans and investments		82		—	1,495	—	288	5	1,870
Total		$  9,258	2	$  7,930	$1,868	$1,554	$334	$       5	$  20,949

1. The aggregate amounts include $3.25 billion and $4.17 billion as of December 2012 and December 2011, 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 $3.57 billion and $1.72 billion, respectively, as of December 2012, and $6.15 billion and $2.62 billion, respectively, as of December 2011, related to CDOs backed by mortgage obligations.

Consolidated variable interest entities

	Consolidated VIEs
	As of December 2012
in millions		Real estate, credit-related and other investing	CDOs, mortgage- backed and other asset- backed	Principal- protected notes	Total
Assets
Cash and cash equivalents		$   236	$107	$      —	$   343
Cash and securities segregated for regulatory and other purposes		134	—	92	226
Receivables from brokers, dealers and clearing organizations		5	—	—	5
Financial instruments owned, at fair value		2,958	763	124	3,845
Other assets		1,080	—	—	1,080
Total		$4,413	$870	$   216	$5,499
Liabilities
Other secured financings		$   594	$699	$   301	$1,594
Financial instruments sold, but not yet purchased, at fair value		—	107	—	107
Unsecured short-term borrowings, including the current portion of unsecured long-term borrowings		—	—	1,584	1,584
Unsecured long-term borrowings		4	—	334	338
Other liabilities and accrued expenses		1,478	—	—	1,478
Total		$2,076	$806	$2,219	$5,101

	Consolidated VIEs
	As of December 2011
in millions		Real estate, credit-related and other investing	CDOs, mortgage-backed and other asset-backed	Principal- protected notes	Total
Assets
Cash and cash equivalents		$   660	$  51	$       1	$   712
Cash and securities segregated for regulatory and other purposes		139	—	—	139
Receivables from brokers, dealers and clearing organizations		4	—	—	4
Receivables from customers and counterparties		—	16	—	16
Financial instruments owned, at fair value		2,369	352	112	2,833
Other assets		1,552	437	—	1,989
Total		$4,724	$856	$   113	$5,693
Liabilities
Other secured financings		$1,418	$298	$3,208	$4,924
Payables to customers and counterparties		—	9	—	9
Financial instruments sold, but not yet purchased, at fair value		—	—	2	2
Unsecured short-term borrowings, including the current portion of unsecured long-term borrowings		185	—	1,941	2,126
Unsecured long-term borrowings		4	—	269	273
Other liabilities and accrued expenses		2,046	40	—	2,086
Total		$3,653	$347	$5,420	$9,420