Collateralized Agreements and Financings (Tables)

9 Months Ended

Sep. 30, 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		September 2020	December 2019
Resale agreements		$101,277	$  85,691
Securities borrowed		$127,391	$136,071
Repurchase agreements		$101,279	$117,756
Securities loaned		$  17,288	$  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 September 2020
Included in the consolidated balance sheets
Gross carrying value		$167,540		$ 131,829			$ 167,542		$ 21,726
Counterparty netting		(66,263	)	(4,438	)		(66,263	)	(4,438	)
Total		101,277		127,391			101,279		17,288
Amounts not offset
Counterparty netting		(8,789	)	(2,776	)		(8,789	)	(2,776	)
Collateral		(90,529	)	(115,734	)		(91,651	)	(14,311	)
Total		$    1,959		$     8,881			$        839		$      201
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 September 2020
Money market instruments	$       917	$         –
U.S. government and agency obligations	87,602	–
Non-U.S. government and agency obligations	57,060	1,045
Securities backed by commercial real estate	66	–
Securities backed by residential real estate	288	–
Corporate debt securities	8,201	64
State and municipal obligations	21	–
Other debt obligations	18	–
Equity securities	13,369	20,617
Total	$167,542	$21,726
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 September 2020
$ in millions		Repurchase agreements	Securities loaned
No stated maturity and overnight		$103,365	$15,082
2 - 30 days		33,042	3,175
31 - 90 days		8,822	–
91 days - 1 year		19,473	3,469
Greater than 1 year		2,840	–
Total		$167,542	$21,726

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 2020
Other secured financings (short-term):
At fair value	$  5,109	$  6,619	$11,728
At amortized cost	–	–	–
Other secured financings (long-term):
At fair value	6,693	5,144	11,837
At amortized cost	716	700	1,416
Total other secured financings	$12,518	$12,463	$24,981
Other secured financings collateralized by:
Financial instruments	$  5,285	$10,105	$15,390
Other assets	$  7,233	$  2,358	$  9,591
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 September 2020
Other secured financings (short-term)	$11,728
Other secured financings (long-term):
2021	1,090
2022	3,800
2023	1,741
2024	1,499
2025	892
2026 - thereafter	4,231
Total other secured financings (long-term)	13,253
Total other secured financings	$24,981

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		September 2020	December 2019
Collateral available to be delivered or repledged		$745,992	$661,490
Collateral that was delivered or repledged		$604,615	$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		September 2020	December 2019
Pledged to counterparties that had the right to deliver or repledge
Trading assets		$  80,268	$  66,605
Investments		$  14,244	$  10,968
Pledged to counterparties that did not have the right to deliver or repledge
Trading assets		$110,700	$101,578
Investments		$    2,825	$       849
Loans		$    8,076	$    6,628
Other assets		$  15,488	$  12,337