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Loans, Lending Commitments and Related Allowance for Credit Losses
 12 Months Ended
Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Loans, Lending Commitments and Related Allowance for Credit Losses Loans, Lending Commitments and Related Allowance for Credit Losses
The Firm’s held-for-investment and held-for-sale loan portfolios consist of the following types of loans:
•Corporate. Corporate includes revolving lines of credit, term loans and bridge loans made to corporate entities for a variety of purposes.
•Secured Lending Facilities. Secured lending facilities include loans provided to clients, which are collateralized by various assets, including residential and commercial real estate mortgage loans, investor commitments for capital calls, corporate loans and other assets.
•Commercial Real Estate.  Commercial real estate loans include owner-occupied loans and income-producing loans.
•Residential Real Estate. Residential real estate loans mainly include non-conforming loans and HELOC.
•Securities-based Lending and Other.  Securities-based lending includes loans that allow clients to borrow money against the value of qualifying securities for any suitable purpose other than purchasing, trading, or carrying securities or refinancing margin debt. The majority of these loans are structured as revolving lines of credit. Other primarily includes certain loans originated in the tailored lending business within the Wealth Management business segment.
Loans by Type
 At December 31, 2021
$ in millionsHFI LoansHFS LoansTotal Loans
Corporate$5,567 $8,107 $13,674 
Secured lending facilities31,471 3,879 35,350 
Commercial real estate7,227 1,777 9,004 
Residential real estate44,251 7 44,258 
Securities-based lending and Other loans86,440 62 86,502 
Total loans174,956 13,832 188,788 
ACL(654)(654)
Total loans, net$174,302 $13,832 $188,134 
Loans to non-U.S. borrowers, net$24,322 
 At December 31, 2020
$ in millionsHFI LoansHFS LoansTotal Loans
Corporate$6,046 $8,580 $14,626 
Secured lending facilities25,727 3,296 29,023 
Commercial real estate7,346 822 8,168 
Residential real estate35,268 48 35,316 
Securities-based lending and Other loans64,232 67 64,299 
Total loans138,619 12,813 151,432 
ACL(835)(835)
Total loans, net$137,784 $12,813 $150,597 
Loans to non-U.S. borrowers, net$21,081 
Loans by Interest Rate Type
 At December 31, 2021At December 31, 2020
$ in millionsFixed RateFloating or Adjustable RateFixed RateFloating or Adjustable Rate
Corporate$— $13,674 $— $14,626 
Secured lending facilities— 35,350 196 28,827 
Commercial real estate343 8,661 574 7,594 
Residential real estate18,966 25,292 13,120 22,196 
Securities-based lending and Other loans22,832 63,670 18,973 45,326 
Total loans, before ACL$42,141 $146,647 $32,863 $118,569 
See Note 5 for further information regarding Loans and lending commitments held at fair value. See Note 15 for details of current commitments to lend in the future.
Credit Quality

The CRM evaluates new obligors before credit transactions are initially approved and at least annually thereafter for corporate and commercial real estate loans. For Corporate, Secured lending facilities and Other loans, credit evaluations typically involve the evaluation of financial statements, assessment of leverage, liquidity, capital strength, asset composition and quality, market capitalization and access to capital markets, cash flow projections and debt service requirements, and the adequacy of collateral, if applicable. The CRM also evaluates strategy, market position, industry dynamics, obligor’s management and other factors that could affect an obligor’s risk profile. 
For Commercial real estate loans, the credit evaluation is focused on property and transaction metrics, including property type, LTV ratio, occupancy levels, debt service ratio, prevailing capitalization rates and market dynamics.
For Residential real estate and Securities-based loans, the initial credit evaluation typically includes, but is not limited to, review of the obligor’s income, net worth, liquidity, collateral, LTV ratio and credit bureau information. Subsequent credit monitoring for residential real estate loans is performed at the portfolio level. Securities-based loan collateral values are monitored on an ongoing basis.
For information related to credit quality indicators considered in developing the ACL, see Note 2.
Loans Held for Investment before Allowance by Origination Year
At December 31, 2021At December 31, 2020
Corporate
$ in millions
IGNIGTotalIGNIGTotal
Revolving
$2,356 $2,328 $4,684 $1,138 $3,231 $4,369 
2021— 85 85 
2020111 26 137 585 80 665 
2019— 176 176 204 202 406 
2018196 — 196 195 — 195 
2017— 60 60 — 64 64 
Prior
229 — 229 247 100 347 
Total
$2,892 $2,675 $5,567 $2,369 $3,677 $6,046 
At December 31, 2021At December 31, 2020
Secured Lending Facilities
$ in millions
IGNIGTotalIGNIGTotal
Revolving
$7,603 $20,172 $27,775 $4,711 $14,510 $19,221 
202132 467 499 
202035 160 195 162 253 415 
201943 819 862 260 1,904 2,164 
2018297 703 1,000 614 1,432 2,046 
2017144 266 410 245 581 826 
Prior
— 730 730 — 1,055 1,055 
Total
$8,154 $23,317 $31,471 $5,992 $19,735 $25,727 
At December 31, 2021At December 31, 2020
Commercial Real Estate
$ in millions
IGNIGTotalIGNIGTotal
Revolving$3 $149 $152 $— $— $— 
2021423 1,292 1,715 
202091 819 910 95 943 1,038 
2019976 1,266 2,242 1,074 1,848 2,922 
2018527 416 943 746 774 1,520 
201780 439 519 412 387 799 
Prior
109 637 746 100 967 1,067 
Total
$2,209 $5,018 $7,227 $2,427 $4,919 $7,346 
At December 31, 2021
Residential Real Estate
by FICO Scores
by LTV Ratio
Total
$ in millions
≥ 740
680-739
≤ 679
≤ 80%
> 80%
Revolving$65 $27 $4 $96 $— $96 
202112,230 2,638 257 14,116 1,009 15,125 
20207,941 1,648 131 9,210 510 9,720 
20194,690 1,072 140 5,536 366 5,902 
20181,865 497 55 2,231 186 2,417 
20172,157 558 65 2,588 192 2,780 
Prior
5,973 1,919 319 7,485 726 8,211 
Total
$34,921 $8,359 $971 $41,262 $2,989 $44,251 
At December 31, 2020
Residential Real Estate
by FICO Scoresby LTV RatioTotal
$ in millions≥ 740680-739≤ 679≤ 80%> 80%
Revolving$85 $32 $5 $122 $— $122 
20208,948 1,824 149 10,338 583 10,921 
20195,592 1,265 168 6,584 441 7,025 
20182,320 604 75 2,756 243 2,999 
20172,721 690 89 3,251 249 3,500 
Prior7,789 2,510 402 9,719 982 10,701 
Total$27,455 $6,925 $888 $32,770 $2,498 $35,268 
At December 31, 2021
Securities-based Lending1
Other2
$ in millions
IGNIG
Total
Revolving
$71,485 $6,170 $858 $78,513 
2021807 708 103 1,618 
2020— 651 626 1,277 
201919 1,079 633 1,731 
2018232 273 375 880 
2017— 531 217 748 
Prior
16 1,294 363 1,673 
Total
$72,559 $10,706 $3,175 $86,440 
At December 31, 2020
Securities-based Lending1
Other2
$ in millions
IGNIG
Total
Revolving$51,667 $4,816 $555 $57,038 
2020— 1,073 590 1,663 
201918 1,156 623 1,797 
2018232 407 403 1,042 
2017— 654 122 776 
Prior
16 1,632 268 1,916 
Total$51,933 $9,738 $2,561 $64,232 
IG—Investment Grade
NIG—Non-investment Grade
1.Securities-based loans are subject to collateral maintenance provisions, and at December 31, 2021 and December 31, 2020, these loans are predominantly over-collateralized. For more information on the ACL methodology related to securities-based loans, see Note 2.
2. Other loans primarily include certain loans originated in the tailored lending business within the Wealth Management business segment.
Past Due Loans Held for Investment before Allowance1
$ in millions
At December 31, 2021At December 31, 2020
Residential real estate$209 $332 
Securities-based lending and Other loans— 31 
Total
$209 $363 
1.The majority of the amounts are past due for a period of less than 60 days.
Nonaccrual Loans Held for Investment before Allowance
$ in millionsAt
December 31, 2021		At
December 31, 2020
Corporate$34 $164 
Secured lending facilities375 — 
Commercial real estate195 152 
Residential real estate138 97 
Securities-based lending and Other loans151 178 
Total1
$893 $591 
Nonaccrual loans without an ACL$356 $90 
1.Includes all loans held for investment that are 90 days or more past due as of December 31, 2021 and December 31, 2020.
Troubled Debt Restructurings
$ in millions
At
December 31, 2021
At
December 31, 2020
Loans, before ACL$49 $167 
Lending commitments— 27 
Allowance for credit losses8 36 
Troubled debt restructurings typically include modifications of interest rates, collateral requirements, other loan covenants and payment extensions. See Note 2 for further information
on TDR guidance issued by Congress in the CARES Act, as well as by the U.S. banking agencies.
Allowance for Credit Losses Rollforward and Allocation—Loans
$ in millionsCorporate Secured Lending FacilitiesCREResidential Real EstateSBL and OtherTotal
December 31, 2020$309 $198 $211 $59 $58 $835 
Gross charge-offs(23)(67)(27)(1)(8)(126)
Provision (release)(119)34 25 1 11 (48)
Other(2)(2)(3)1 (1)(7)
December 31, 2021$165 $163 $206 $60 $60 $654 
Percent of loans to total loans1
3 %18 %4 %25 %50 %100 %
$ in millionsCorporate Secured Lending FacilitiesCREResidential Real EstateSBL and OtherTotal
December 31, 2019$115 $101 $75 $25 $33 $349 
Effect of CECL adoption(2)(42)34 21 (2)9 
Gross charge-offs(39)— (64)(1)(1)(105)
Recoveries4 — — — 4 8 
Net (charge-offs) recoveries(35)— (64)(1)3 (97)
Provision (release)224 136 197 14 (13)558 
Other7 3 (31)— 37 16 
December 31, 2020$309 $198 $211 $59 $58 $835 
Percent of loans to total loans1
4 %19 %5 %26 %46 %100 %
$ in millionsCorporate Secured Lending FacilitiesCREResidential Real EstateSBL and OtherTotal
December 31, 2018$62 $60 $67 $20 $29 $238 
Gross charge-offs— — — (2)— (2)
Provision (release)58 42 8 7 4 119 
Other(5)(1)— — — (6)
December 31, 2019$115 $101 $75 $25 $33 $349 
Percent of loans to total loans1
4 %21 %7 %25 %43 %100 %
CRE—Commercial real estate
SBL—Securities-based lending
1.Percent of loans to total loans represents loans held for investment by loan type to total loans held for investment.
Allowance for Credit Losses Rollforward—Lending Commitments
$ in millions
Corporate
Secured Lending Facilities
CRE
Residential Real Estate
SBL and Other
Total
December 31, 2020$323 $38 $11 $1 $23 $396 
Provision (release)37 2 10 — 3 52 
Other(4)1 (1)— — (4)
December 31, 2021$356 $41 $20 $1 $26 $444 
$ in millions
Corporate
Secured Lending Facilities
CRE
Residential Real Estate
SBL and Other
Total
December 31, 2019$201 $27 $7 $— $6 $241 
Effect of CECL adoption(41)(11)1 2 (1)(50)
Provision (release)161 22 7 (1)14 203 
Other2 — (4)— 4 2 
December 31, 2020$323 $38 $11 $1 $23 $396 
$ in millions
Corporate
Secured Lending Facilities
CRE
Residential Real Estate
SBL and Other
Total
December 31, 2018$177 $16 $3 $— $7 $203 
Provision (release)27 11 4 — — 42 
Other(3)— — — (1)(4)
December 31, 2019$201 $27 $7 $— $6 $241 
The aggregate allowance for credit losses for loans and lending commitments decreased in 2021, primarily reflecting charge-offs. The provision for credit losses on loans and lending commitments was flat, primarily as a result of portfolio growth, offset by the impact of changes in loan quality mix. The base scenario used in our ACL models as of December 31, 2021 was generated using a combination of industry consensus economic forecasts, forward rates, and internally developed and validated models, and assumes continued growth over the forecast period. Given the nature of our lending portfolio, the most sensitive model input is U.S. gross domestic product.
See Note 2 for a description of the ACL calculated under the CECL methodology, including credit quality indicators, used for held-for-investment loans beginning in 2020 and for a summary of the differences compared with the Firm’s ACL methodology under the prior incurred loss model.
Selected Credit Ratios
At
December 31, 2021		At
December 31, 2020
ACL to total loans1
0.4 %0.6 %
Nonaccrual loans to total loans2
0.5 %0.4 %
ACL to nonaccrual loans3
73.2 %141.3 %
1.Allowance for credit losses for loans to total loans held for investment.
2.Nonaccrual loans held for investment, which are loans that are 90 days or more past due, to total loans held for investment.
3.Allowance for credit losses for loans to nonaccrual loans held for investment.
Employee Loans
$ in millions
At
December 31, 2021
At
December 31, 2020
Currently employed by the Firm1
$3,613 $3,100 
No longer employed by the Firm2
113 140 
Employee loans$3,726 $3,240 
ACL(153)(165)
Employee loans, net of ACL$3,573 $3,075 
Remaining repayment term, weighted average in years5.75.3
1.These loans are predominantly current.
2.These loans are predominantly past due for a period of 90 days or more.
Employee loans are granted in conjunction with a program established primarily to recruit certain Wealth Management representatives, are full recourse and generally require periodic repayments, and are due in full upon termination of employment with the Firm. These loans are recorded in Customer and other receivables in the balance sheet. See Note 2 for a description of the CECL allowance methodology, including credit quality indicators, for employee loans.