Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Financial Assets Liabilities Summary

The table below presents financial assets and liabilities accounted for at fair value.

	As of
$ in millions		March 2020		December 2019
Total level 1 financial assets		$   217,934		$242,562
Total level 2 financial assets		440,469		325,259
Total level 3 financial assets		30,776		23,068
Investments in funds at NAV		3,545		4,206
Counterparty and cash collateral netting		(78,612	)	(55,527	)
Total financial assets at fair value		$   614,112		$539,568
Total assets		$1,089,756		$992,968
Total level 3 financial assets divided by:
Total assets		2.8%		2.3%
Total financial assets at fair value		5.0%		4.3%
Total level 1 financial liabilities		$     63,117		$  54,790
Total level 2 financial liabilities		320,820		293,902
Total level 3 financial liabilities		27,565		25,938
Counterparty and cash collateral netting		(60,796	)	(41,671	)
Total financial liabilities at fair value		$   350,706		$332,959
Total level 3 financial liabilities divided by total financial liabilities at fair value		7.9%		7.8%

In the table above:

• Counterparty netting among positions classified in the same level is included in that level.

• Counterparty and cash collateral netting represents the impact on derivatives of netting across levels of the fair value hierarchy.

Total Level 3 Financial Assets

The table below presents a summary of level 3 financial assets.

	As of
$ in millions		March 2020	December 2019
Trading assets:
Trading cash instruments		$       1,234	$    1,242
Derivatives		7,381	4,654
Investments		19,408	15,282
Loans		2,753	1,890
Total		$     30,776	$  23,068