Commitments, Contingencies and Guarantees (Tables)

9 Months Ended

Sep. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

Commitments

The table below presents the firm’s commitments by type.

	As of
$ in millions		September 2016	December 2015
Commitments to extend credit
Commercial lending:
Investment-grade		$  75,995	$  72,428
Non-investment-grade		35,938	41,277
Warehouse financing		4,159	3,453
Total commitments to extend credit		116,092	117,158
Contingent and forward starting resale and securities borrowing agreements		40,563	28,874
Forward starting repurchase and secured lending agreements		12,762	5,878
Letters of credit		341	249
Investment commitments		5,705	6,054
Other		5,461	6,944
Total commitments		$180,924	$165,157

The table below presents the firm’s commitments by period of expiration.

	As of September 2016
$ in millions		Remainder of 2016	2017 - 2018	2019 - 2020	2021 - Thereafter
Commitments to extend credit
Commercial lending:
Investment-grade		$  3,560	$13,576	$36,502	$22,357
Non-investment-grade		505	6,989	14,772	13,672
Warehouse financing		—	1,986	571	1,602
Total commitments to extend credit		4,065	22,551	51,845	37,631
Contingent and forward starting resale and securities borrowing agreements		40,505	58	—	—
Forward starting repurchase and secured lending agreements		12,762	—	—	—
Letters of credit		11	323	3	4
Investment commitments		2,307	2,232	42	1,124
Other		5,020	331	60	50
Total commitments		$64,670	$25,495	$51,950	$38,809

Leases

The table below presents future minimum rental payments, net of minimum sublease rentals.

$ in millions	As of September 2016
Remainder of 2016	$     78
2017	318
2018	307
2019	264
2020	233
2021	185
2022 - thereafter	1,061
Total	$2,446

Guarantees

The table below presents information about certain derivatives that meet the definition of a guarantee, securities lending indemnifications and certain other guarantees.

$ in millions	Derivatives	Securities lending indemnifications	Other financial guarantees
As of September 2016
Carrying Value of Net Liability	$    9,524	$        —	$     65
Maximum Payout/Notional Amount by Period of Expiration
Remainder of 2016	$148,983	$38,386	$   193
2017 - 2018	374,101	—	1,336
2019 - 2020	143,847	—	1,247
2021 - thereafter	74,868	—	469
Total	$741,799	$38,386	$3,245
As of December 2015
Carrying Value of Net Liability	$    8,351	$        —	$     76
Maximum Payout/Notional Amount by Period of Expiration
2016	$640,288	$31,902	$   611
2017 - 2018	168,784	—	1,402
2019 - 2020	67,643	—	1,772
2021 - thereafter	49,728	—	676
Total	$926,443	$31,902	$4,461

In the table above:

• The maximum payout is based on the notional amount of the contract and does not represent anticipated losses.

• Amounts exclude certain commitments to issue standby letters of credit that are included in “Commitments to extend credit.” See the tables in “Commitments” above for a summary of the firm’s commitments.