Borrowings and Other Secured Financings (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Maturities and Terms of Borrowings

Maturities and Terms of Borrowings

	Parent Company				Subsidiaries				At December 31, 2021		At December 31, 2020
$ in millions	Fixed Rate1		Variable Rate2		Fixed Rate1		Variable Rate2
Original maturities of one year or less:
Next 12 months	$	—	$	1,300	$	915	$	3,549	$	5,764	$	3,691
Original maturities greater than one year:
2021											$	24,241
2022	$	6,665	$	571	$	963	$	5,998	$	14,197	22,209
2023	10,882		6,319		287		6,298		23,786		22,890
2024	16,455		4,051		587		8,073		29,166		21,727
2025	14,662		4,408		1,607		4,884		25,561		18,636
2026	17,679		417		612		5,318		24,026		22,042
Thereafter	81,134		5,506		8,576		15,411		110,627		81,643
Total	$	147,477	$	21,272	$	12,632	$	45,982	$	227,363	$	213,388
Total borrowings	$	147,477	$	22,572	$	13,547	$	49,531	$	233,127	$	217,079

Weighted average coupon at period end3 2.9  % 0.9  % 4.0  % N/M 2.7  % 2.9  %

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, 2021		At December 31, 2020
Senior	$	213,776	$	202,305
Subordinated	13,587		11,083
Total	$	227,363	$	213,388
Weighted average stated maturity, in years	7.7		7.3

Rates for Borrowings with Original Maturities Greater than One Year

	At December 31,
	2021		2020		2019
Contractual weighted average coupon1	2.7	%	2.9	%	3.4	%
Effective weighted average coupon after swaps	1.6	%	1.7	%	2.9	%

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, 2021		At December 31, 2020
Put options embedded in debt agreements	$	174	$	94
Liquidity obligations1	$	1,622	$	1,483

1.Includes obligations to support secondary market trading.

Schedule of Subordinated Debt

Subordinated Debt

	2021		2020
Contractual weighted average coupon	4.0	%	4.5	%

Schedule of Other Secured Financings

Other Secured Financings

$ in millions	At December 31, 2021		At December 31, 2020
Original maturities:
One year or less	$	4,573	$	10,453
Greater than one year	5,468		5,410
Total	$	10,041	$	15,863
Transfers of assets accounted for as secured financings	1,556		1,529

Maturities and Terms of Other Secured Financings1

	At December 31, 2021								At December 31, 2020
$ in millions	Fixed Rate		Variable Rate2			Total
Original maturities of one year or less:
Next 12 months	$	—	$	3,754		$	3,754		$	10,453
Original maturities greater than one year:
2021									$	1,655
2022	$	14	$	2,272		$	2,286		1,405
2023	181		1,623			1,804			279
2024	—		233			233			96
2025	39		—			39			38
2026	—		—			—			—
Thereafter	24		345			369			408
Total	$	258	$	4,473		$	4,731		$	3,881
Weighted average coupon at period-end3	N/M		0.7		%	0.7		%	0.6		%

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, 2021		At December 31, 2020
2021			$	303
2022	$	846	159
2023	586		626
2024	—		14
2025	7		—
2026	34		69
Thereafter	83		358
Total	$	1,556	$	1,529

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