Collateralized Agreements and Financings (Tables)

9 Months Ended

Sep. 30, 2016

Resale and Repurchase Agreements and Securities Borrowed and Loaned Transactions

The table below presents the carrying value of resale and repurchase agreements and securities borrowed and loaned transactions.


	As of
$ in millions		September 2016	December 2015
Securities purchased under agreements to resell		$ 94,220	$120,905

Securities borrowed		185,468	172,099

Securities sold under agreements to repurchase		73,905	86,069

Securities loaned		5,256	3,614

Offsetting Arrangements

The table below also presents the amounts not offset in the condensed consolidated statements of financial condition, including counterparty netting that does not meet the criteria for netting under U.S. GAAP and the fair value of cash or securities collateral received or posted subject to enforceable credit support agreements.


	Assets					Liabilities
$ in millions		Resale agreements		Securities borrowed			Repurchase agreements		Securities loaned
As of September 2016
Included in the condensed consolidated statements of financial condition
Gross carrying value		$ 149,386		$ 190,897			$114,013		$ 8,871

Counterparty netting		(40,108	)	(3,615	)		(40,108	)	(3,615	)
Total		109,278		187,282			73,905		5,256
Amounts not offset
Counterparty netting		(8,440	)	(2,908	)		(8,440	)	(2,908	)

Collateral		(98,884	)	(173,473	)		(63,714	)	(2,089	)
Total		$ 1,954		$ 10,901			$ 1,751		$ 259
As of December 2015
Included in the condensed consolidated statements of financial condition
Gross carrying value		$ 163,199		$ 180,203			$114,960		$ 6,179

Counterparty netting		(28,891	)	(2,565	)		(28,891	)	(2,565	)
Total		134,308		177,638			86,069		3,614
Amounts not offset
Counterparty netting		(4,979	)	(1,732	)		(4,979	)	(1,732	)

Collateral		(125,561	)	(167,061	)		(78,958	)	(1,721	)
Total		$ 3,768		$ 8,845			$ 2,132		$ 161

Schedule of Gross Carrying Value of Repurchase Agreements and Securities Loaned by Class of Collateral Pledged

The table below presents the gross carrying value of repurchase agreements and securities loaned by class of collateral pledged.


$ in millions	Repurchase agreements	Securities loaned
As of September 2016
Commercial paper, certificates of deposit, time deposits and other money market instruments	$ 671	$ —

U.S. government and federal agency obligations	45,401	—

Non-U.S. government and agency obligations	39,929	1,070

Securities backed by commercial real estate	9	—

Securities backed by residential real estate	116	—

Corporate debt securities	9,859	14

State and municipal obligations	111	—

Other debt obligations	14	—

Equities and convertible debentures	17,903	7,787
Total	$ 114,013	$8,871
As of December 2015
Commercial paper, certificates of deposit, time deposits and other money market instruments	$ 806	$ —

U.S. government and federal agency obligations	54,856	101

Non-U.S. government and agency obligations	31,547	2,465

Securities backed by commercial real estate	269	—

Securities backed by residential real estate	2,059	—

Corporate debt securities	6,877	30

State and municipal obligations	609	—

Other debt obligations	101	—

Equities and convertible debentures	17,836	3,583
Total	$ 114,960	$6,179

Schedule of Gross Carrying Value of Repurchase Agreements and Securities Loaned by Maturity Date

The table below presents the gross carrying value of repurchase agreements and securities loaned by maturity date.


	As of September 2016
$ in millions		Repurchase agreements	Securities loaned
No stated maturity and overnight		$ 33,885	$4,350

2 - 30 days		37,689	2,546

31 - 90 days		10,647	725

91 days - 1 year		23,091	1,250

Greater than 1 year		8,701	—
Total		$114,013	$8,871

Other Secured Financings

The table below presents information about other secured financings.

$ in millions

U.S.
Dollar

Non-U.S.
Dollar

Total

As of September 2016

Other secured financings (short-term):

At fair value

$10,417

$ 4,768

$15,185

At amortized cost

—

Weighted average interest rates

4.33%

—%

Other secured financings (long-term):

At fair value

5,689

1,132

6,821

At amortized cost

145

324

469

Weighted average interest rates

3.98%

1.96%

Total

$16,254

$ 6,224

$22,478

Other secured financings collateralized by:

Financial instruments

$15,198

$ 5,733

$20,931

Other assets

1,056

491

1,547

As of December 2015

Other secured financings (short-term):

At fair value

$ 7,952

$ 5,448

$13,400

At amortized cost

514

319

833

Weighted average interest rates

2.93%

3.83%

Other secured financings (long-term):

At fair value

6,702

3,105

9,807

At amortized cost

370

343

713

Weighted average interest rates

2.87%

1.54%

Total

$15,538

$ 9,215

$24,753

Other secured financings collateralized by:

Financial instruments

$14,862

$ 8,872

$23,734

Other assets

676

343

1,019

Other Secured Financings by Maturity Date

The table below presents other secured financings by maturity date.


$ in millions			As of September 2016
Other secured financings (short-term)			$15,188

Other secured financings (long-term):
2017			1,080

2018			3,394

2019			697

2020			1,185

2021			249

2022 - thereafter			685
Total other secured financings (long-term)			7,290
Total other secured financings			$22,478

Financial Instruments Received as Collateral and Repledged

The table below presents financial instruments at fair value received as collateral that were available to be delivered or repledged and were delivered or repledged by the firm.


	As of
$ in millions		September 2016	December 2015
Collateral available to be delivered or repledged		$623,720	$636,684

Collateral that was delivered or repledged		494,028	496,240

In the table above, as of September 2016 and December 2015, collateral available to be delivered or repledged excludes $15.06 billion and $13.40 billion, respectively, of securities received under resale agreements, and $1.81 billion and $5.54 billion, respectively, of securities borrowed transactions that contractually had the right to be delivered or repledged, but were segregated to satisfy certain regulatory requirements.

Financial Instruments Owned, at Fair Value and Other Assets Pledged as Collateral

The table below presents information about assets pledged.


	As of
$ in millions		September 2016	December 2015
Financial instruments owned, at fair value pledged to counterparties that:
Had the right to deliver or repledge		$ 55,800	$ 54,426

Did not have the right to deliver or repledge		66,390	63,880

Other assets pledged to counterparties that did not have the right to deliver or repledge		2,986	1,841