Fair Value Option (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value Option

Borrowings Measured at Fair Value on a Recurring Basis

$ in millions	At June 30, 2024		At December 31, 2023
Business Unit Responsible for Risk Management
Equity	$	48,186	$	46,073
Interest rates	31,490		31,055
Commodities	13,463		12,798
Credit	2,388		2,400
Foreign exchange	1,528		1,574
Total	$	97,055	$	93,900

Net Revenues from Borrowings under the Fair Value Option

	Three Months Ended June 30,				Six Months Ended June 30,
$ in millions	2024		2023		2024		2023
Trading revenues	$	949	$	(513)	$	835	$	(4,891)
Interest expense	155		119		299		227
Net revenues1	$	794	$	(632)	$	536	$	(5,118)

1.Amounts do not reflect any gains or losses from related economic hedges.

Gains (Losses) Due to Changes in Instrument-Specific Credit Risk

	Three Months Ended June 30,
	2024				2023
$ in millions	Trading Revenues		OCI		Trading Revenues		OCI
Loans and other receivables1	$	(24)	$	—	$	(61)	$	—
Lending commitments	2		—		—		—
Deposits	—		15		—		(76)
Borrowings	(7)		347		(3)		(625)

	Six Months Ended June 30,
	2024				2023
$ in millions	Trading Revenues		OCI		Trading Revenues		OCI
Loans and other receivables1	$	2	$	—	$	(104)	$	—
Lending commitments	(1)		—		11		—
Deposits	—		11		—		17
Borrowings	(17)		(390)		(9)		(742)

$ in millions	At June 30, 2024		At December 31, 2023
Cumulative pre-tax DVA gain (loss) recognized in AOCI	$	(2,545)	$	(2,166)

1.Loans and other receivables-specific credit gains (losses) were determined by excluding the non-credit components of gains and losses.

Difference Between Contractual Principal and Fair Value1

$ in millions	At June 30, 2024		At December 31, 2023
Loans and other receivables2	$	10,304	$	11,086
Nonaccrual loans2	7,575		8,566
Borrowings3	3,621		3,030

1.Amounts indicate contractual principal greater than or (less than) fair value.

2.The majority of the difference between principal and fair value amounts for loans and other receivables relates to distressed debt positions purchased at amounts well below par.

3.Excludes borrowings where the repayment of the initial principal amount fluctuates based on changes in a reference price or index.

Fair Value Loans on Nonaccrual Status

$ in millions	At June 30, 2024		At December 31, 2023
Nonaccrual loans	$	449	$	440
Nonaccrual loans 90 or more days past due	21		75