Collateralized Agreements and Financings (Tables)

3 Months Ended

Mar. 31, 2020

Text Block [Abstract]

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		March 2020	December 2019
Resale agreements		$132,333	$  85,691
Securities borrowed		$121,670	$136,071
Repurchase agreements		$  95,864	$117,756
Securities loaned		$  13,869	$  14,985

Offsetting Arrangements

The table below presents resale and repurchase agreements and securities borrowed and loaned transactions included in the consolidated balance sheets, as well as the amounts not offset in the consolidated balance sheets.

	Assets					Liabilities
$ in millions		Resale agreements		Securities borrowed			Repurchase agreements		Securities loaned
As of March 2020
Included in the consolidated balance sheets
Gross carrying value		$ 199,157		$ 125,340			$ 162,688		$ 17,539
Counterparty netting		(66,824	)	(3,670	)		(66,824	)	(3,670	)
Total		132,333		121,670			95,864		13,869
Amounts not offset
Counterparty netting		(7,393	)	(4,043	)		(7,393	)	(4,043	)
Collateral		(121,885	)	(110,661	)		(87,681	)	(9,826	)
Total		$     3,055		$     6,966			$         790		$          –
As of December 2019
Included in the consolidated balance sheets
Gross carrying value		$  152,982		$  140,677			$ 185,047		$ 19,591
Counterparty netting		(67,291	)	(4,606	)		(67,291	)	(4,606	)
Total		85,691		136,071			117,756		14,985
Amounts not offset
Counterparty netting		(3,058	)	(2,211	)		(3,058	)	(2,211	)
Collateral		(78,528	)	(127,901	)		(114,065	)	(12,614	)
Total		$      4,105		$      5,959			$        633		$      160

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 March 2020
Money market instruments		$       719		$          –
U.S. government and agency obligations		81,270		–
Non-U.S. government and agency obligations		61,443		1,032
Securities backed by commercial real estate		60		–
Securities backed by residential real estate		450		–
Corporate debt securities		6,875		74
State and municipal obligations		222		–
Other debt obligations		1,061		–
Equity securities		10,588		16,433
Total		$162,688		$17,539
As of December 2019
Money market instruments		$       158		$          –
U.S. government and agency obligations		112,903		–
Non-U.S. government and agency obligations		55,575		1,051
Securities backed by commercial real estate		210		–
Securities backed by residential real estate		1,079		–
Corporate debt securities		6,857		122
State and municipal obligations		242		–
Other debt obligations		196		–
Equity securities		7,827		18,418
Total		$185,047		$19,591

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.

	As of March 2020
$ in millions		Repurchase agreements	Securities loaned
No stated maturity and overnight		$  42,764	$13,522
2 - 30 days		68,223	–
31 - 90 days		29,421	972
91 days - 1 year		20,504	3,045
Greater than 1 year		1,776	–
Total		$162,688	$17,539

Other Secured Financings

The table below presents information about other secured financings.

$ in millions	U.S. Dollar	Non-U.S. Dollar	Total
As of March 2020
Other secured financings (short-term):
At fair value	$13,248	$  4,725	$17,973
At amortized cost	6,123	–	6,123
Other secured financings (long-term):
At fair value	6,665	5,353	12,018
At amortized cost	396	686	1,082
Total other secured financings	$26,432	$10,764	$37,196
Other secured financings collateralized by:
Financial instruments	$19,694	$  8,629	$28,323
Other assets	$  6,738	$  2,135	$  8,873
As of December 2019
Other secured financings (short-term):
At fair value	$  2,754	$  4,441	$  7,195
At amortized cost	129	–	129
Other secured financings (long-term):
At fair value	7,402	3,474	10,876
At amortized cost	397	680	1,077
Total other secured financings	$10,682	$  8,595	$19,277
Other secured financings collateralized by:
Financial instruments	$  4,826	$  7,189	$12,015
Other assets	$  5,856	$  1,406	$  7,262

Other Secured Financings by Maturity Date

The table below presents other secured financings by maturity.

$ in millions	As of March 2020
Other secured financings (short-term)	$24,096
Other secured financings (long-term):
2021	3,460
2022	2,589
2023	1,606
2024	1,490
2025	492
2026 - thereafter	3,463
Total other secured financings (long-term)	13,100
Total other secured financings	$37,196

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.

	As of
$ in millions		March 2020	December 2019
Collateral available to be delivered or repledged		$689,662	$661,490
Collateral that was delivered or repledged		$557,726	$558,634

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

The table below presents information about assets pledged.

	As of
$ in millions		March 2020	December 2019
Pledged to counterparties that had the right to deliver or repledge
Trading assets		$59,128	$  66,605
Investments		$10,765	$  10,968
Pledged to counterparties that did not have the right to deliver or repledge
Trading assets		$92,201	$101,578
Investments		$  8,098	$       849
Loans		$34,933	$    6,628
Other assets		$14,573	$  12,337