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Loans and Leases (Tables)
 3 Months Ended
Mar. 31, 2016
Loans and Leases Receivable Disclosure [Abstract]  
Net Loans
The following table presents our recorded investment in loans and leases, by segment and class, as of the dates indicated:
(In millions)
March 31, 2016
 
December 31, 2015
Institutional:
 
 
 
Investment funds:
 
 
 
U.S.
$
11,681

 
$
11,136

Non-U.S.
2,247

 
1,678

Commercial and financial:
 
 
 
U.S.
3,707

 
4,671

Non-U.S.
541

 
278

Purchased receivables:
 
 
 
U.S.
86

 
93

Non-U.S.
—

 
—

Lease financing:
 
 
 
U.S.
335

 
337

Non-U.S.
563

 
578

Total institutional
19,160

 
18,771

Commercial real estate:
 
 
 
U.S.
27

 
28

Total loans and leases
19,187

 
18,799

Allowance for loan losses
(47
)
 
(46
)
Loans and leases, net of allowance for loan losses
$
19,140

 
$
18,753
Recorded Investment in Each Class of Total Loans and Leases by Credit Quality Indicator
The following tables present our recorded investment in each class of loans and leases by credit quality indicator as of the dates indicated:
 
Institutional
 
 
 
 
March 31, 2016
Investment
Funds
 
Commercial and Financial
 
Purchased
Receivables
 
Lease
Financing
 
Commercial Real Estate
 
Total
Loans and
Leases
(In millions)
Investment grade(1)
$
13,563

 
$
904

 
$
86

 
$
870

 
$
27

 
$
15,450

Speculative(2)
365

 
3,329

 
—

 
28

 
—

 
3,722

Special mention(3)
—

 
—

 
—

 
—

 
—

 
—

Substandard(4)
—

 
15

 
—

 
—

 
—

 
15

Total
$
13,928

 
$
4,248

 
$
86

 
$
898

 
$
27

 
$
19,187

 
Institutional
 
 
 
 
December 31, 2015
Investment
Funds
 
Commercial and Financial
 
Purchased
Receivables
 
Lease
Financing
 
Commercial Real Estate
 
Total
Loans and
Leases
(In millions)
Investment grade(1)
$
12,415

 
$
1,780

 
$
93

 
$
888

 
$
28

 
$
15,204

Speculative(2)
399

 
3,138

 
—

 
27

 
—

 
3,564

Special mention(3)
—

 
31

 
—

 
—

 
—

 
31

Substandard(4)
—

 
—

 
—

 
—

 
—

 
—

Total
$
12,814

 
$
4,949

 
$
93

 
$
915

 
$
28

 
$
18,799

 
 
 
 
(1) Investment-grade loans and leases consist of counterparties with strong credit quality and low expected credit risk and probability of default. Ratings apply to counterparties with a strong capacity to support the timely repayment of any financial commitment.
(2) Speculative loans and leases consist of counterparties that face ongoing uncertainties or exposure to business, financial, or economic downturns. However, these counterparties may have financial flexibility or access to financial alternatives, which allow for financial commitments to be met.
(3) Special mention loans and leases consist of counterparties with potential weaknesses that, if uncorrected, may result in deterioration of repayment prospects.
(4) Substandard loans and leases consist of counterparties with well-defined weakness that jeopardizes repayment with the possibility we will sustain some loss.
Schedule of Loans and Leases Receivable by Impairment Methodology
The following table presents our recorded investment in loans and leases, disaggregated based on our impairment methodology, as of the dates indicated:
 
March 31, 2016
 
December 31, 2015
(In millions)
Institutional
 
Commercial Real Estate
 
Total Loans and Leases
 
Institutional
 
Commercial Real Estate
 
Total Loans and Leases
Loans and leases(1):
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
15

 
$
—

 
$
15

 
$
—

 
$
—

 
$
—

Collectively evaluated for impairment
19,145

 
27

 
19,172

 
18,771

 
28

 
18,799

Total
$
19,160

 
$
27

 
$
19,187

 
$
18,771

 
$
28

 
$
18,799

 
 
 
 
(1) For those portfolios where there are a small number of loans each with a large balance, we review each loan annually for indicators of impairment. For those loans where no such indicators are identified, the loans are collectively evaluated for impairment. As of March 31, 2016 and December 31, 2015, $1 million and zero, respectively, of the allowance for loan loss related to institutional loans individually evaluated for impairment. As of both March 31, 2016 and December 31, 2015, $46 million of the allowance for loan loss related to institutional loans collectively evaluated for impairment.    
Impaired Loans
The following table presents information related to our recorded investment in impaired loans and leases for the dates or periods indicated:
 
As of March 31, 2016
 
Three Months Ended March 31, 2016
 
As of December 31, 2015
(In millions)
Recorded Investment
 
Unpaid
Principal
Balance
 
Related Allowance(1)
 
Average Recorded Investment
 
Interest Revenue Recognized
 
Recorded Investment
 
Unpaid
Principal
Balance
 
Related Allowance(1)
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
CRE—property development—acquired credit-impaired
$
—

 
$
34

 
$
—

 
$
—

 
$
—

 
$
—

 
$
34

 
$
—

CRE—other—acquired credit-impaired
—

 
22

 
—

 
—

 
—

 
—

 
22

 
—

Total CRE
—

 
56

 
—

 
—

 
—

 
—

 
56

 
—

With an allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
Institutional- commercial and financial lending
15

 
15

 
1

 
15

 
—

 
—

 
—

 
—

Total Institutional
15

 
15

 
1

 
15

 
—

 
—

 
—

 
—

Total CRE and institutional
$
15

 
$
71

 
$
1

 
$
15

 
$
—

 
$
—

 
$
56

 
$
—

 
 
 
 
(1) As of both March 31, 2016 and December 31, 2015, there was an additional allowance for loan losses of $46 million related to loans that were not impaired.
Schedule of Activity in the Allowance for Loan Losses
The following table presents activity in the allowance for loan losses for the periods indicated:
 
Three Months Ended March 31,
 
2016
 
2015
(In millions)
Total Loans and Leases
 
Total Loans and Leases
Allowance for loan losses(1):
 
 
 
Beginning balance
$
46

 
$
37

Provision for loan losses
4

 
4

Charge-offs
(3
)
 
—

Ending balance
$
47

 
$
41

 
 
 
 
(1) As of March 31, 2016, approximately $36 million of our allowance for loan losses was related to senior secured loans included in the institutional segment; the remaining $11 million was related to other institutional segment loans.