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Offsetting Arrangements (Tables)
 3 Months Ended
Mar. 31, 2016
Offsetting [Abstract]  
Offsetting Assets
The following tables present information about the offsetting of assets related to derivative contracts and secured financing transactions, as of the dates indicated:
Assets:
 
March 31, 2016
 
December 31, 2015
(In millions)
 
Gross Amounts of Recognized Assets(1)(2)
 
Gross Amounts Offset in Statement of Condition(3)
 
Net Amounts of Assets Presented in Statement of Condition
 
Gross Amounts of Recognized Assets(1)
 
Gross Amounts Offset in Statement of Condition(3)
 
Net Amounts of Assets Presented in Statement of Condition
Derivatives:
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
16,300

 
$
(7,684
)
 
$
8,616

 
$
11,316

 
$
(5,896
)
 
$
5,420

Interest-rate contracts
 
371

 
(9
)
 
362

 
135

 
(5
)
 
130

Equity derivative contracts
 
—

 
—

 
—

 
1

 
—

 
1

Other derivative contracts
 
3

 
(2
)
 
1

 
4

 
(2
)
 
2

Cash collateral netting
 
N/A

 
(3,166
)
 
(3,166
)
 
N/A

 
(776
)
 
(776
)
Total derivatives
 
$
16,674

 
$
(10,861
)
 
$
5,813

 
$
11,456

 
$
(6,679
)
 
$
4,777

Other financial instruments:
 
 
 
 
 
 
 
 
Resale agreements and securities borrowing(4)
 
$
63,868

 
$
(38,404
)
 
$
25,464

 
$
62,522

 
$
(38,997
)
 
$
23,525

Total derivatives and other financial instruments
 
$
80,542

 
$
(49,265
)
 
$
31,277

 
$
73,978

 
$
(45,676
)
 
$
28,302

 
 
 
 
 
(1) Amounts include all transactions regardless of whether or not they are subject to an enforceable netting arrangement.
(2) Derivative amounts are carried at fair value and securities financing amounts are carried at amortized cost, except for securities collateral which are also carried at fair value. Refer to Note 1 to the consolidated financial statements on pages 129 to 132 in our 2015 Form 10-K for additional information on the measurement basis of these instruments.
(3) Amounts subject to netting arrangements which have been determined to be legally enforceable and eligible for netting in the consolidated statement of condition.
(4) Included in the $25,464 million as of March 31, 2016 were $3,722 million of resale agreements and $21,742 million of collateral provided related to securities borrowing. Included in the $23,525 million as of December 31, 2015 were $3,404 million of resale agreements and $20,121 million of collateral provided related to securities borrowing. Resale agreements and collateral provided related to securities borrowing were recorded in securities purchased under resale agreements and other assets, respectively, in our consolidated statement of condition. Refer to Note 9 for additional information with respect to principal securities finance transactions.
 
 
March 31, 2016
 
December 31, 2015
 
 
 
 
Gross Amounts Not Offset in Statement of Condition
 
 
 
 
 
Gross Amounts Not Offset in Statement of Condition
 
 
(In millions)
 
Net Amount of Assets Presented in Statement of Condition
 
Counterparty Netting
 
Cash and Securities Received(1)
 
Net Amount(2)
 
Net Amount of Assets Presented in Statement of Condition
 
Counterparty Netting
 
Collateral Received(1)
 
Net Amount(2)
Derivatives
 
$
5,813

 
$
—

 
$
(403
)
 
$
5,410

 
$
4,777

 
$
—

 
$
(405
)
 
$
4,372

Resale agreements and securities borrowing
 
25,464

 
(92
)
 
(24,882
)
 
490

 
23,525

 
(63
)
 
(22,812
)
 
650

Total
 
$
31,277

 
$
(92
)
 
$
(25,285
)
 
$
5,900

 
$
28,302

 
$
(63
)
 
$
(23,217
)
 
$
5,022

 
 
 
 
 
(1) Includes securities in connection with our securities borrowing transactions.
(2) Includes amounts secured by collateral not determined to be subject to enforceable netting arrangements.
Offsetting Liabilities
The following tables present information about the offsetting of liabilities related to derivative contracts and secured financing transactions, as of the dates indicated:
Liabilities:
 
March 31, 2016
 
December 31, 2015
(In millions)
 
Gross Amounts of Recognized Liabilities(1)(2)
 
Gross Amounts Offset in Statement of Condition(3)
 
Net Amounts of Liabilities Presented in Statement of Condition
 
Gross Amounts of Recognized Liabilities(1)
 
Gross Amounts Offset in Statement of Condition(3)
 
Net Amounts of Liabilities Presented in Statement of Condition
Derivatives:
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
15,786

 
$
(7,684
)
 
$
8,102

 
$
10,868

 
$
(5,896
)
 
$
4,972

Interest-rate contracts
 
206

 
(9
)
 
197

 
182

 
(5
)
 
177

Other derivative contracts
 
144

 
(2
)
 
142

 
103

 
(2
)
 
101

Cash collateral netting
 
N/A

 
(856
)
 
(856
)
 
N/A

 
(1,118
)
 
(1,118
)
Total derivatives
 
$
16,136

 
$
(8,551
)
 
$
7,585

 
$
11,153

 
$
(7,021
)
 
$
4,132

Other financial instruments:
 
 
 
 
 
 
 
 
Repurchase agreements and securities lending(4)
 
$
46,420

 
$
(38,404
)
 
$
8,016

 
$
46,766

 
$
(38,997
)
 
$
7,769

Total derivatives and other financial instruments
 
$
62,556

 
$
(46,955
)
 
$
15,601

 
$
57,919

 
$
(46,018
)
 
$
11,901

 
 
 
 
 
(1) Amounts include all transactions regardless of whether or not they are subject to an enforceable netting arrangement.
(2) Derivative amounts are carried at fair value and securities financing amounts are carried at amortized cost, except for securities collateral which are also carried at fair value. Refer to Note 1 to the consolidated financial statements on pages 129 to 132 in our 2015 Form 10-K for additional information on the measurement basis of these instruments.
(3) Amounts subject to netting arrangements which have been determined to be legally enforceable and eligible for netting in the consolidated statement of condition.
(4) Included in the $8,016 million as of March 31, 2016 were $4,224 million of repurchase agreements and $3,792 million of collateral received related to securities lending. Included in the $7,769 million as of December 31, 2015 were $4,499 million of repurchase agreements and $3,270 million of collateral received related to securities lending. Repurchase agreements and collateral received related to securities lending were recorded in securities sold under repurchase agreements and accrued expenses and other liabilities, respectively, in our consolidated statement of condition. Refer to Note 9 for additional information with respect to principal securities finance transactions.
 
 
March 31, 2016
 
December 31, 2015
 
 
 
 
Gross Amounts Not Offset in Statement of Condition
 
 
 
 
 
Gross Amounts Not Offset in Statement of Condition
 
 
(In millions)
 
Net Amount of Liabilities Presented in Statement of Condition
 
Counterparty Netting
 
Cash and Securities Provided(1)
 
Net Amount(2)
 
Net Amount of Liabilities Presented in Statement of Condition
 
Counterparty Netting
 
Collateral Provided(1)
 
Net Amount(2)
Derivatives
 
$
7,585

 
$
—

 
$
(119
)
 
$
7,466

 
$
4,132

 
$
—

 
$
(64
)
 
$
4,068

Repurchase agreements and securities lending
 
8,016

 
(92
)
 
(5,797
)
 
2,127

 
7,769

 
(63
)
 
(5,287
)
 
2,419

Total
 
$
15,601

 
$
(92
)
 
$
(5,916
)
 
$
9,593

 
$
11,901

 
$
(63
)
 
$
(5,351
)
 
$
6,487

 
 
 
 
 
(1) Includes securities provided in connection with our securities lending transactions.
(2) Includes amounts secured by collateral not determined to be subject to enforceable netting arrangements.
Securities Sold and Securities Loaned Under Repurchase Agreements
The following table summarizes our repurchase agreements and securities lending transactions by category of collateral pledged and remaining maturity of these agreements as of March 31, 2016:
 
 
Remaining Contractual Maturity of the Agreements
(In millions)
 
Overnight and Continuous
 
Up to 30 days
 
30 – 90 days
 
Total
Repurchase agreements:
 
 
 
 
 
 
 
 
U.S. Treasury and agency securities
 
$
36,454

 
$
—

 
$
—

 
$
36,454

Non-U.S. sovereign debt
 
76

 
—

 
—

 
76

Total
 
36,530

 
—

 
—

 
36,530

Securities lending transactions:
 
 
 
 
 
 
 
 
Corporate debt securities
 
1

 
—

 
—

 
1

Equity securities
 
8,810

 
—

 
965

 
9,775

Non-U.S. sovereign debt
 
114

 
—

 
—

 
114

Total
 
8,925

 
—

 
965

 
9,890

Gross amount of recognized liabilities for repurchase agreements and securities lending
 
$
45,455

 
$
—

 
$
965

 
$
46,420