Borrowings and Other Secured Financings (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Maturities and Terms of Borrowings

Maturities and Terms of Borrowings

	Parent Company				Subsidiaries				At December 31, 2020		At December 31, 2019
$ in millions	Fixed Rate1		Variable Rate2		Fixed Rate1		Variable Rate2
Original maturities of one year or less:
Next 12 months	$	—	$	1	$	—	$	3,690	$	3,691	$	2,567
Original maturities greater than one year:
2020	$	—	$	—	$	—	$	—	$	—	$	20,402
2021	14,341		3,329		616		5,955		24,241		26,085
2022	6,909		9,703		764		4,833		22,209		19,888
2023	10,853		6,299		123		5,615		22,890		14,615
2024	14,096		2,013		387		5,231		21,727		21,106
2025	10,719		617		1,547		5,753		18,636		14,642
Thereafter	76,499		4,444		8,301		14,441		103,685		73,322
Total	$	133,417	$	26,405	$	11,738	$	41,828	$	213,388	$	190,060
Total borrowings	$	133,417	$	26,406	$	11,738	$	45,518	$	217,079	$	192,627

Weighted average coupon at period end3 3.3  % 1.0  % 0.9  % N/M 2.9  % 3.4  %

1.Fixed rate borrowings include instruments with step-up, step-down and zero coupon features.

2.Variable rate borrowings include those that bear interest based on a variety of indices, including LIBOR, federal funds rates and SOFR, in addition to certain notes carried at fair value with various payment provisions, including notes linked to the performance of a specific index, a basket of stocks, a specific equity security, a commodity, a credit exposure or basket of credit exposures.

3.Only includes borrowings with original maturities greater than one year. Weighted average coupon is calculated utilizing U.S. and non-U.S. dollar interest rates and excludes financial instruments for which the fair value option was elected. Virtually all of the variable rate notes issued by subsidiaries are carried at fair value so a weighted average coupon is not meaningful.

Schedule of Borrowings with Original Maturities Greater than One Year

Borrowings with Original Maturities Greater than One Year

$ in millions	At December 31, 2020		At December 31, 2019
Senior	$	202,305	$	179,519
Subordinated	11,083		10,541
Total	$	213,388	$	190,060
Weighted average stated maturity, in years	7.3		6.9

Rates for Borrowings with Original Maturities Greater than One Year

	At December 31,
	2020		2019		2018
Contractual weighted average coupon1	2.9	%	3.4	%	3.5	%
Effective weighted average coupon after swaps	1.7	%	2.9	%	3.6	%

1.Weighted average coupon was calculated utilizing U.S. and non-U.S. dollar interest rates and excludes financial instruments for which the fair value option was elected.

Schedule of Senior Debt Subject to Put Options or Liquidity Obligations

Senior Debt Subject to Put Options or Liquidity Obligations

$ in millions	At December 31, 2020		At December 31, 2019
Put options embedded in debt agreements	$	94	$	290
Liquidity obligations1	$	1,483	$	1,344

1.Includes obligations to support secondary market trading.

Schedule of Subordinated Debt

Subordinated Debt

	2020		2019
Contractual weighted average coupon	4.5	%	4.5	%

Schedule of Other Secured Financings

Other Secured Financings

$ in millions	At December 31, 2020		At December 31, 2019
Original maturities:
One year or less	$	10,453	$	7,103
Greater than one year	5,410		7,595
Total	$	15,863	$	14,698
Transfers of assets accounted for as secured financings	1,529		1,115

Maturities and Terms of Other Secured Financings1

	At December 31, 2020								At December 31, 2019
$ in millions	Fixed Rate		Variable Rate2			Total
Original maturities of one year or less:
Next 12 months	$	6,099	$	4,354		$	10,453		$	7,103
Original maturities greater than one year:
2020	$	—	$	—		$	—		$	1,663
2021	1,270		385			1,655			1,110
2022	605		800			1,405			227
2023	191		88			279			2,655
2024	—		96			96			12
2025	38		—			38			36
Thereafter	23		385			408			777
Total	$	2,127	$	1,754		$	3,881		$	6,480
Weighted average coupon at period-end3	N/M		0.5		%	0.6		%	2.4		%

1.Excludes transfers of assets accounted for as secured financings. See subsequent table.

2.Variable rate other secured financings bear interest based on a variety of indices, including LIBOR and federal funds rates. Amounts include notes carried at fair value with various payment provisions, including notes linked to equity, credit, commodity or other indices.

3.Includes only other secured financings with original maturities greater than one year. Weighted average coupon is calculated utilizing U.S. and non-U.S. dollar interest rates and excludes other secured financings that are linked to non-interest indices and for which the fair value option was elected.

Maturities of Transfers of Assets Accounted for as Secured Financings1

$ in millions	At December 31, 2020		At December 31, 2019
2020	$	—	$	208
2021	303		225
2022	159		46
2023	626		334
2024	14		—
2025	—		—
Thereafter	427		302
Total	$	1,529	$	1,115

1.Excludes Securities sold under agreements to repurchase and Securities loaned.