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Loans, Lending Commitments and Related Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 30, 2024
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Schedule of Loans by Type
Loans by Type
 At September 30, 2024
$ in millionsHFI LoansHFS LoansTotal Loans
Corporate$6,304 $9,094 $15,398 
Secured lending facilities45,728 3,612 49,340 
Commercial real estate8,688 154 8,842 
Residential real estate65,001 1 65,002 
Securities-based lending and Other
93,395 1 93,396 
Total loans219,116 12,862 231,978 
ACL(1,104)(1,104)
Total loans, net$218,012 $12,862 $230,874 
Loans to non-U.S. borrowers, net$23,319 $4,037 $27,356 
 At December 31, 2023
$ in millionsHFI LoansHFS LoansTotal Loans
Corporate$6,758 $11,862 $18,620 
Secured lending facilities39,498 3,161 42,659 
Commercial real estate8,678 209 8,887 
Residential real estate60,375 22 60,397 
Securities-based lending and Other
89,245 1 89,246 
Total loans204,554 15,255 219,809 
ACL(1,169)(1,169)
Total loans, net$203,385 $15,255 $218,640 
Loans to non-U.S. borrowers, net$21,152 $5,043 $26,195 
Schedule of Loans by Interest Rate Type
Loans by Interest Rate Type
 At September 30, 2024At December 31, 2023
$ in millionsFixed RateFloating or Adjustable RateFixed RateFloating or Adjustable Rate
Corporate$— $15,397 $— $18,620 
Secured lending facilities— 49,341 — 42,659 
Commercial real estate141 8,700 141 8,746 
Residential real estate30,492 34,510 28,934 31,464 
Securities-based lending and Other
24,764 68,633 23,922 65,323 
Total loans, before ACL$55,397 $176,581 $52,997 $166,812 
Schedule of Loans Held for Investment
Loans Held for Investment before Allowance by Credit Quality and Origination Year
At September 30, 2024At December 31, 2023
Corporate
$ in millionsIGNIGTotalIGNIGTotal
Revolving$2,083 $3,953 $6,036 $2,350 $3,863 $6,213 
202453 12 65 
2023— 50 50 — 88 88 
2022— 28 28 — 166 166 
202115 75 90 15 89 104 
20209 26 35 29 25 54 
Prior— — — — 133 133 
Total
$2,160 $4,144 $6,304 $2,394 $4,364 $6,758 
At September 30, 2024At December 31, 2023
Secured Lending Facilities
$ in millionsIGNIGTotalIGNIGTotal
Revolving$10,512 $25,384 $35,896 $9,494 $22,240 $31,734 
2024818 2,474 3,292 
20231,423 1,333 2,756 1,535 1,459 2,994 
2022286 2,243 2,529 392 2,390 2,782 
2021— 285 285 — 365 365 
2020— — — — 80 80 
Prior100 870 970 356 1,187 1,543 
Total
$13,139 $32,589 $45,728 $11,777 $27,721 $39,498 
At September 30, 2024At December 31, 2023
Commercial Real Estate
$ in millionsIGNIGTotalIGNIGTotal
Revolving$— $176 $176 $— $170 $170 
2024112 1,699 1,811 
2023409 810 1,219 261 1,067 1,328 
2022245 1,855 2,100 284 1,900 2,184 
2021145 1,743 1,888 370 1,494 1,864 
2020— 430 430 — 756 756 
Prior— 1,064 1,064 195 2,181 2,376 
Total
$911 $7,777 $8,688 $1,110 $7,568 $8,678 
At September 30, 2024
Residential Real Estate
by FICO Scoresby LTV RatioTotal
$ in millions≥ 740680-739≤ 679≤ 80%> 80%
Revolving$126 $38 $5 $169 $— $169 
20246,403 1,151 117 6,935 736 7,671 
20236,946 1,449 210 7,703 902 8,605 
202210,444 2,346 375 12,125 1,040 13,165 
202110,646 2,274 233 12,253 900 13,153 
20206,591 1,363 99 7,640 413 8,053 
Prior10,848 2,932 405 13,161 1,024 14,185 
Total$52,004 $11,553 $1,444 $59,986 $5,015 $65,001 
At December 31, 2023
Residential Real Estate
by FICO Scoresby LTV RatioTotal
$ in millions≥ 740680-739≤ 679≤ 80%> 80%
Revolving$108 $33 $8 $149 $— $149 
20237,390 1,517 230 8,168 969 9,137 
202210,927 2,424 389 12,650 1,090 13,740 
202111,075 2,376 239 12,763 927 13,690 
20206,916 1,430 104 8,017 433 8,450 
Prior
11,642 3,131 436 14,106 1,103 15,209 
Total$48,058 $10,911 $1,406 $55,853 $4,522 $60,375 
At September 30, 2024
Securities-based lending1
Other2
$ in millionsIGNIGTotal
Revolving $73,585 $6,672 $1,605 $81,862 
20241,003 562 361 1,926 
2023962 434 656 2,052 
2022642 463 1,114 2,219 
2021100 103 483 686 
202039 239 481 759 
Prior231 1,214 2,446 3,891 
Total$76,562 $9,687 $7,146 $93,395 
At December 31, 2023
Securities-based lending1
Other2
$ in millionsIGNIGTotal
Revolving$71,474 $5,230 $1,362 $78,066 
20231,612 627 346 2,585 
20221,128 816 804 2,748 
2021165 330 377 872 
2020— 435 414 849 
Prior215 2,096 1,814 4,125 
Total$74,594 $9,534 $5,117 $89,245 
IG—Investment Grade
NIG—Non-investment Grade
1. Securities-based loans are subject to collateral maintenance provisions, and at September 30, 2024 and December 31, 2023, these loans are predominantly over-collateralized. For more information on the ACL methodology related to securities-based loans, see Note 2 to the financial statements in the 2023 Form 10-K.
2. Other loans primarily include certain loans originated in the tailored lending business within the Wealth Management business segment, which typically consist of bespoke lending arrangements provided to ultra-high worth net clients. These facilities are generally secured by eligible collateral.
Past Due Loans Held for Investment before Allowance1
$ in millionsAt September 30, 2024At December 31, 2023
Corporate$— $47 
Commercial real estate182 185 
Residential real estate147 160 
Securities-based lending and Other
87 1 
Total$416 $393 
1.As of September 30, 2024, the majority of the amounts are 90 days or more past due. As of December 31, 2023, the majority of the amounts are past due for a period of less than 90 days.
Nonaccrual Loans Held for Investment before Allowance1
$ in millionsAt September 30, 2024At December 31, 2023
Corporate$75 $95 
Secured lending facilities6 87 
Commercial real estate469 426 
Residential real estate119 95 
Securities-based lending and Other
267 174 
Total
$936 $877 
Nonaccrual loans without an ACL$200 $86 
1.There were no loans held for investment that were 90 days or more past due and still accruing as of September 30, 2024 and December 31, 2023. For further information on the Firm’s nonaccrual policy, see Note 2 to the financial statements in the 2023 Form 10-K.
Schedule of Modified Loans and Troubled Debt Restructurings
Modified Loans Held for Investment
Period-end loans held for investment modified during the following periods1
 Three Months Ended September 30,
20242023
$ in millionsAmortized Cost
% of Total Loans2
Amortized Cost
% of Total Loans2
Term Extension
Corporate$30 0.5 %$82 1.1 %
Commercial real estate56 0.6 %198 2.4 %
Securities-based lending and Other 21 — %105 0.1 %
Total Modifications$107 — %$385 0.2 %
 Nine Months Ended September 30,
20242023
$ in millionsAmortized Cost
% of Total Loans2
Amortized Cost
% of Total Loans2
Term Extension
Corporate$136 2.2 %$114 1.6 %
Commercial real estate136 1.6 %219 2.6 %
Residential real estate— — %1 — %
Securities-based lending and Other 149 0.2 %129 0.1 %
Total$421 0.2 %$463 0.3 %
Multiple Modifications - Term Extension and Other-than-insignificant Payment Delay
Commercial real estate$— — %$40 0.5 %
Residential real estate1 — %— — %
Total $1 — %$40 0.5 %
Total Modifications$422 0.2 %$503 0.3 %
1.Lending commitments to borrowers for which the Firm has modified terms of the receivable, during the three months ended September 30, 2024 and 2023, were $212 million and $424 million, as of September 30, 2024 and September 30, 2023, respectively. Lending commitments to borrowers for which the Firm has modified terms of the receivable, during the nine months ended September 30, 2024 and 2023, were $676 million and $877 million, as of September 30, 2024 and September 30, 2023, respectively.
2.Percentage of total loans represents the percentage of modified loans to total loans held for investment by loan type.
Financial Effect of Modifications on Loans Held for Investment
Three Months Ended September 30, 20241
Term Extension
(Months)		Other-than-insignificant Payment Delay
(Months)
Principal Forgiveness
($ millions)
Interest Rate Reduction
(%)
Single Modifications
Corporate110$— — %
Commercial real estate270— — %
Securities-based lending and Other120— — %
Three Months Ended September 30, 20231
Term Extension
(Months)		Other-than-insignificant Payment Delay
(Months)
Principal Forgiveness
($ millions)
Interest Rate Reduction
(%)
Single Modifications
Corporate230$— — %
Commercial real estate30— — %
Securities-based lending and Other40— — %
Nine Months Ended September 30, 20241
Term Extension
(Months)		Other-than-insignificant Payment Delay
(Months)
Principal Forgiveness
($ millions)
Interest Rate Reduction
(%)
Single Modifications
Corporate230$— — %
Commercial real estate140— — %
Securities-based lending and Other210— — %
Multiple Modifications - Term Extension and Interest Rate Reduction
Residential real estate1200$— 1 %
Nine Months Ended September 30, 20231
Term Extension
(Months)		Other-than-insignificant Payment Delay
(Months)
Principal Forgiveness
($ millions)
Interest Rate Reduction
(%)
Single Modifications
Corporate210$— — %
Commercial real estate30— — %
Residential real estate40— — %
Securities-based lending and Other80— — %
Multiple Modifications - Term Extension and Other-than-insignificant Payment Delay
Commercial real estate76$— — %
1.In instances where more than one loan was modified, modification impact is presented on a weighted-average basis.
Past Due Loans Held for Investment Modified in the Last 12 months
 At September 30, 2024
$ in millions30-89 Days Past Due90+ Days
Past Due		Total
Commercial real estate$— $67 $67 
Securities-based lending and Other loans42 — 42 
Total$42 $67 $109 



 At September 30, 2023
$ in millions30-89 Days Past Due90+ days
Past Due		Total
Commercial real estate$21 $— $21 
Residential real estate— 1 1 
Total$21 $1 $22 
Summary of Credit Losses and Schedule of Allowance for Credit Losses Rollforward - Loans and Lending Commitments . Summary of Gross Charge-offs by Origination Year
Provision for Credit Losses
Three Months Ended September 30,Nine Months Ended September 30,
$ in millions2024202320242023
Loans$18 $123 $81 $462 
Lending commitments61 11 68 67 
Allowance for Credit Losses Rollforward and Allocation—Loans and Lending Commitments
Nine Months Ended September 30, 2024
$ in millionsCorporateSecured Lending FacilitiesCREResidential Real EstateSBL and OtherTotal
ACL—Loans
Beginning balance
$241 $153 $463 $100 $212 $1,169 
Gross charge-offs(39)(11)(103)— (2)(155)
Recoveries— — 4 — 3 7 
Net (charge-offs) recoveries(39)(11)(99)— 1 (148)
Provision (release)24 (12)44 (10)35 81 
Other1 — 3 — (2)2 
Ending balance$227 $130 $411 $90 $246 $1,104 
Percent of loans to total loans1
3 %21 %4 %30 %42 %100 %
ACL—Lending commitments
Beginning balance$431 $70 $26 $4 $20 $551 
Provision (release)41 19 9 — (1)68 
Other(1)1 — — — — 
Ending balance$471 $90 $35 $4 $19 $619 
Total ending balance
$698 $220 $446 $94 $265 $1,723 
Nine Months Ended September 30, 2023
$ in millionsCorporateSecured Lending FacilitiesCREResidential Real EstateSBL and OtherTotal
ACL—Loans
Beginning balance$235 $153 $275 $87 $89 $839 
Gross charge-offs
(30)— (108)— (3)(141)
Recoveries— — — 1 — 1 
Net (charge-offs) recoveries(30)— (108)1 (3)(140)
Provision (release)44 2 261 22 133 462 
Other(1)(1)(2)— — (4)
Ending balance$248 $154 $426 $110 $219 $1,157 
Percent of loans to total loans1
4 %19 %4 %28 %45 %100 %
ACL—Lending commitments
Beginning balance$411 $51 $15 $4 $23 $504 
Provision (release)29 24 12 — 2 67 
Other(1)— (1)— — (2)
Ending balance$439 $75 $26 $4 $25 $569 
Total ending balance
$687 $229 $452 $114 $244 $1,726 
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.
Gross Charge-offs by Origination Year
Three Months Ended September 30, 2024
$ in millionsCorporateSecured Lending FacilitiesCREResidential Real EstateSBL and OtherTotal
Revolving
$(39)$— $— $— $— $(39)
2022— — (18)— — (18)
Prior
— — (44)— — (44)
Total
$(39)$— $(62)$— $— $(101)
Three Months Ended September 30, 2023
$ in millionsCorporateSecured Lending FacilitiesCREResidential Real EstateSBL and OtherTotal
2020— — — — (1)(1)
2019— — (39)— — (39)
Total
$— $— $(39)$— $(1)$(40)
Nine Months Ended September 30, 2024
$ in millionsCorporateSecured Lending FacilitiesCREResidential Real EstateSBL and OtherTotal
Revolving
$(39)$— $— $— $— $(39)
2022— — (18)— — (18)
2021— — — — (2)(2)
2020— (11)— — — (11)
Prior
— — (85)— — (85)
Total
$(39)$(11)$(103)$— $(2)$(155)
Nine Months Ended September 30, 2023
$ in millionsCorporateSecured Lending FacilitiesCREResidential Real EstateSBL and OtherTotal
Revolving
$(30)$— $— $— $— $(30)
2020— — — — (2)(2)
2019— — (68)— (1)(69)
Prior
— — (40)— — (40)
Total
$(30)$— $(108)$— $(3)$(141)
Schedule of Selected Credit Ratios
Selected Credit Ratios
At
September 30,
2024 		At
December 31,
2023
ACL for loans to total HFI loans0.5 %0.6 %
Nonaccrual HFI loans to total HFI loans
0.4 %0.4 %
ACL for loans to nonaccrual HFI loans
117.9 %133.3 %
Schedule of Employee Loans
Employee Loans
$ in millionsAt
September 30,
2024 		At
December 31,
2023
Currently employed by the Firm1
$4,182 $4,257 
No longer employed by the Firm2
86 92 
Employee loans$4,268 $4,349 
ACL(109)(121)
Employee loans, net of ACL$4,159 $4,228 
Remaining repayment term, weighted average in years5.75.8
1.These loans are predominantly current.
2.These loans are predominantly past due for a period of 90 days or more.