Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Jan. 31, 2014 | Jun. 30, 2013 | |
Document and Entity Information | ' | ' | ' |
Entity Registrant Name | 'JPMORGAN CHASE & CO | ' | ' |
Entity Central Index Key | '0000019617 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'Q4 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well Known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Public Float | ' | ' | $197,931,024,385 |
Entity Common Stock Shares Outstanding | ' | 3,786,825,346 | ' |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | |||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Revenue | ' | ' | ' | |||
Investment banking fees | $6,354 | $5,808 | $5,911 | |||
Principal transactions | 10,141 | 5,536 | 10,005 | |||
Lending- and deposit-related fees | 5,945 | 6,196 | 6,458 | |||
Asset management, administration and commissions | 15,106 | 13,868 | 14,094 | |||
Securities gains | 667 | [1] | 2,110 | [1] | 1,593 | [1] |
Mortgage fees and related income | 5,205 | 8,687 | 2,721 | |||
Card income | 6,022 | 5,658 | 6,158 | |||
Other income | 3,847 | 4,258 | 2,605 | |||
Noninterest revenue | 53,287 | 52,121 | 49,545 | |||
Interest income | 52,996 | 56,063 | 61,293 | |||
Interest expense | 9,677 | 11,153 | 13,604 | |||
Net interest income | 43,319 | 44,910 | 47,689 | |||
Total net revenue | 96,606 | 97,031 | 97,234 | |||
Provision for credit losses | 225 | 3,385 | 7,574 | |||
Noninterest expense | ' | ' | ' | |||
Compensation expense | 30,810 | 30,585 | 29,037 | |||
Occupancy expense | 3,693 | 3,925 | 3,895 | |||
Technology, communications and equipment expense | 5,425 | 5,224 | 4,947 | |||
Professional and outside services | 7,641 | 7,429 | 7,482 | |||
Marketing | 2,500 | 2,577 | 3,143 | |||
Other expense | 19,761 | 14,032 | 13,559 | |||
Amortization of intangibles | 637 | 957 | 848 | |||
Total noninterest expense | 70,467 | 64,729 | 62,911 | |||
Income before income tax expense | 25,914 | 28,917 | 26,749 | |||
Income tax expense | 7,991 | 7,633 | 7,773 | |||
Net income | 17,923 | 21,284 | 18,976 | |||
Net income applicable to common stockholders | 16,593 | 19,877 | 17,568 | |||
Net income per common share data | ' | ' | ' | |||
Basic earnings per share (in dollars per share) | $4.39 | $5.22 | $4.50 | |||
Diluted earnings per share (in dollars per share) | $4.35 | $5.20 | $4.48 | |||
Weighted-average basic shares | 3,782.40 | 3,809.40 | 3,900.40 | |||
Weighted-average diluted shares | 3,814.90 | 3,822.20 | 3,920.30 | |||
Cash dividends declared per common share (in dollars per share) | $1.44 | $1.20 | $1 | |||
Other-than-temporary impairment losses included in securities gains | ' | ' | ' | |||
Total other-than-temporary impairment losses | -1 | -113 | -27 | |||
Losses recorded in/(reclassified from) other comprehensive income | 0 | 85 | -49 | |||
Total credit losses recognized in income | -21 | -43 | -76 | |||
Credit related [Member] | ' | ' | ' | |||
Other-than-temporary impairment losses included in securities gains | ' | ' | ' | |||
Total credit losses recognized in income | -1 | -28 | -76 | |||
Intent to sell [Member] | ' | ' | ' | |||
Other-than-temporary impairment losses included in securities gains | ' | ' | ' | |||
Total credit losses recognized in income | ($20) | ($15) | $0 | |||
[1] | The following other-than-temporary impairment losses are included in securities gains for the periods presented.Year ended December 31, (in millions) 2013 2012 2011Debt securities the Firm does not intend to sell that have credit losses Total other-than-temporary impairment losses $(1) $(113) $(27)Losses recorded in/(reclassified from) other comprehensive income — 85 (49)Total credit losses recognized in income (1) (28) (76)Securities the Firm intends to sell (20) (15) —Total other-than-temporary impairment losses recognized in income $(21) $(43) $(76) |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net income | $17,923 | $21,284 | $18,976 |
Other comprehensive income/(loss), after–tax | ' | ' | ' |
Unrealized gains/(losses) on AFS securities | -4,070 | 3,303 | 1,067 |
Translation adjustments, net of hedges | -41 | -69 | -279 |
Cash flow hedges | -259 | 69 | -155 |
Defined benefit pension and OPEB plans | 1,467 | -145 | -690 |
Total other comprehensive income/(loss), after-tax | -2,903 | 3,158 | -57 |
Comprehensive income | $15,020 | $24,442 | $18,919 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $39,771 | $53,723 |
Deposits with banks | 316,051 | 121,814 |
Federal funds sold and securities purchased under resale agreements (included $25,135 and $24,258 at fair value) | 248,116 | 296,296 |
Securities borrowed (included $3,739 and $10,177 at fair value) | 111,465 | 119,017 |
Trading assets (included assets pledged of $106,299 and $108,784) | 374,664 | 450,028 |
Securities (included $329,977 and $371,145 at fair value and assets pledged of $23,446 and $52,063) | 354,003 | 371,152 |
Loans (included $2,011 and $2,555 at fair value) | 738,418 | 733,796 |
Allowance for loan losses | -16,264 | -21,936 |
Loans, net of allowance for loan losses | 722,154 | 711,860 |
Accrued interest and accounts receivable | 65,160 | 60,933 |
Premises and equipment | 14,891 | 14,519 |
Goodwill | 48,081 | 48,175 |
Mortgage servicing rights | 9,614 | 7,614 |
Other intangible assets | 1,618 | 2,235 |
Other assets (included $15,187 and $16,458 at fair value and assets pledged of $2,066 and $1,127) | 110,101 | 101,775 |
Total assets | 2,415,689 | 2,359,141 |
Liabilities | ' | ' |
Deposits (included $6,624 and $5,733 at fair value) | 1,287,765 | 1,193,593 |
Federal funds purchased and securities loaned or sold under repurchase agreements (included $5,426 and $4,388 at fair value) | 181,163 | 240,103 |
Commercial paper | 57,848 | 55,367 |
Other borrowed funds (included $13,306 and $11,591 at fair value) | 27,994 | 26,636 |
Trading liabilities | 137,744 | 131,918 |
Accounts payable and other liabilities (included $25 and $36 at fair value) | 194,491 | 195,240 |
Beneficial interests issued by consolidated variable interest entities (included $1,996 and $1,170 at fair value) | 49,617 | 63,191 |
Long-term debt (included $28,878 and $30,788 at fair value) | 267,889 | 249,024 |
Total liabilities | 2,204,511 | 2,155,072 |
Commitments and contingencies (see Notes 29, 30 and 31 of this Annual Report) | ' | ' |
Stockholders' equity | ' | ' |
Preferred stock ($1 par value; authorized 200,000,000 shares: issued 1,115,750 and 905,750 shares) | 11,158 | 9,058 |
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | 4,105 |
Capital surplus | 93,828 | 94,604 |
Retained earnings | 115,756 | 104,223 |
Accumulated other comprehensive income | 1,199 | 4,102 |
Shares held in RSU Trust, at cost (476,642 and 479,126 shares) | -21 | -21 |
Treasury stock, at cost (348,825,583 and 300,981,690 shares) | -14,847 | -12,002 |
Total stockholders’ equity | 211,178 | 204,069 |
Total liabilities and stockholders’ equity | 2,415,689 | 2,359,141 |
Assets and liabilities related to VIEs that are consolidated by the Firm | ' | ' |
Assets | ' | ' |
Trading assets (included assets pledged of $106,299 and $108,784) | 6,366 | 11,966 |
Loans (included $2,011 and $2,555 at fair value) | 70,072 | 82,723 |
Other assets (included $15,187 and $16,458 at fair value and assets pledged of $2,066 and $1,127) | 2,168 | 2,090 |
Total assets | 78,606 | 96,779 |
Liabilities | ' | ' |
Beneficial interests issued by consolidated variable interest entities (included $1,996 and $1,170 at fair value) | 49,617 | 63,191 |
Other Liabilities | 1,061 | 1,244 |
Total liabilities | $50,678 | $64,435 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Assets | ' | ' |
Available-for-sale securities | $329,977,000,000 | $371,145,000,000 |
Liabilities | ' | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements, at fair value | 181,163,000,000 | 240,103,000,000 |
Other borrowed funds | 27,994,000,000 | 26,636,000,000 |
Beneficial interest liability, at fair value | 49,617,000,000 | 63,191,000,000 |
Stockholders' equity | ' | ' |
Preferred stock, par value (in dollars per share) | $1 | $1 |
Preferred stock, shares authorized (in shares) | 200,000,000 | 200,000,000 |
Preferred stock, shares issued (in shares) | 1,115,750 | 905,750 |
Common stock, par value (in dollars per share) | $1 | $1 |
Common stock, shares authorized (in shares) | 9,000,000,000 | 9,000,000,000 |
Common stock, shares issued (in shares) | 4,104,933,895 | 4,104,933,895 |
Shares held in Trust, shares (in shares) | 476,642 | 479,126 |
Treasury stock, shares (in shares) | -348,825,583 | -300,981,690 |
Limited program wide credit enhancement | 2,600,000,000 | 3,100,000,000 |
Trading assets [Member] | ' | ' |
Assets | ' | ' |
Assets Pledged | 106,299,000,000 | 108,784,000,000 |
Securities | ' | ' |
Assets | ' | ' |
Assets Pledged | 23,446,000,000 | 52,063,000,000 |
Other assets | ' | ' |
Assets | ' | ' |
Assets Pledged | 2,066,000,000 | 1,127,000,000 |
Recurring [Member] | Portion at Fair Value Measurement [Member] | ' | ' |
Assets | ' | ' |
Federal funds sold and securities purchased under resale agreements | 25,135,000,000 | 24,258,000,000 |
Securities borrowed | 3,739,000,000 | 10,177,000,000 |
Available-for-sale securities | 329,977,000,000 | 371,145,000,000 |
Loans, at fair value | 2,011,000,000 | 2,555,000,000 |
Liabilities | ' | ' |
Deposits | 6,624,000,000 | 5,733,000,000 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 5,426,000,000 | 4,388,000,000 |
Other borrowed funds | 13,306,000,000 | 11,591,000,000 |
Accounts payable and other liabilities | 25,000,000 | 36,000,000 |
Long-term debt | 28,878,000,000 | 30,788,000,000 |
Other assets | Recurring [Member] | Portion at Fair Value Measurement [Member] | ' | ' |
Assets | ' | ' |
Other Assets, Fair Value Disclosure | 15,187,000,000 | 16,458,000,000 |
Long Term Beneficial Interests [Member] | Recurring [Member] | Portion at Fair Value Measurement [Member] | ' | ' |
Liabilities | ' | ' |
Beneficial interests issued by consolidated VIEs, at fair value | 1,996,000,000 | 1,170,000,000 |
Beneficial interest liability, at fair value | ' | $1,200,000,000 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Preferred stock | Common stock | Capital surplus | Retained earnings | Accumulated other comprehensive income/(loss) | Shares held in RSU Trust, at cost | Treasury stock, at cost |
In Millions, unless otherwise specified | ||||||||
Beginning balance at Dec. 31, 2010 | ' | $7,800 | ' | $97,415 | $73,998 | $1,001 | ($53) | ($8,160) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of stock | ' | 0 | ' | ' | ' | ' | ' | ' |
Redemption of preferred stock | ' | 0 | ' | ' | ' | ' | ' | ' |
Shares issued and commitments to issue common stock for employee stock-based compensation awards, and related tax effects | ' | ' | ' | -1,688 | ' | ' | ' | ' |
Other | ' | ' | ' | -125 | ' | ' | ' | ' |
Net income | 18,976 | ' | ' | ' | 18,976 | ' | ' | ' |
Dividends declared: | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock | ' | ' | ' | ' | -629 | ' | ' | ' |
Common stock ($1.44, $1.20 and $1.00 per share for 2013, 2012 and 2011, respectively) | ' | ' | ' | ' | -4,030 | ' | ' | ' |
Other comprehensive income/(loss) | -57 | ' | ' | ' | ' | -57 | ' | ' |
Reissuance from RSU Trust | ' | ' | ' | ' | ' | ' | 15 | ' |
Purchase of treasury stock | ' | ' | ' | ' | ' | ' | ' | -8,741 |
Reissuance from treasury stock | ' | ' | ' | ' | ' | ' | ' | 3,750 |
Share repurchases related to employee stock-based compensation awards | ' | ' | ' | ' | ' | ' | ' | -4 |
Ending balance at Dec. 31, 2011 | 183,573 | 7,800 | 4,105 | 95,602 | 88,315 | 944 | -38 | -13,155 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of stock | ' | 1,258 | ' | ' | ' | ' | ' | ' |
Redemption of preferred stock | ' | 0 | ' | ' | ' | ' | ' | ' |
Shares issued and commitments to issue common stock for employee stock-based compensation awards, and related tax effects | ' | ' | ' | -736 | ' | ' | ' | ' |
Other | ' | ' | ' | -262 | ' | ' | ' | ' |
Net income | 21,284 | ' | ' | ' | 21,284 | ' | ' | ' |
Dividends declared: | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock | ' | ' | ' | ' | -647 | ' | ' | ' |
Common stock ($1.44, $1.20 and $1.00 per share for 2013, 2012 and 2011, respectively) | ' | ' | ' | ' | -4,729 | ' | ' | ' |
Other comprehensive income/(loss) | 3,158 | ' | ' | ' | ' | 3,158 | ' | ' |
Reissuance from RSU Trust | ' | ' | ' | ' | ' | ' | 17 | ' |
Purchase of treasury stock | ' | ' | ' | ' | ' | ' | ' | -1,415 |
Reissuance from treasury stock | ' | ' | ' | ' | ' | ' | ' | 2,574 |
Share repurchases related to employee stock-based compensation awards | ' | ' | ' | ' | ' | ' | ' | -6 |
Ending balance at Dec. 31, 2012 | 204,069 | 9,058 | 4,105 | 94,604 | 104,223 | 4,102 | -21 | -12,002 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of stock | ' | 3,900 | ' | ' | ' | ' | ' | ' |
Redemption of preferred stock | ' | -1,800 | ' | ' | ' | ' | ' | ' |
Shares issued and commitments to issue common stock for employee stock-based compensation awards, and related tax effects | ' | ' | ' | -752 | ' | ' | ' | ' |
Other | ' | ' | ' | -24 | ' | ' | ' | ' |
Net income | 17,923 | ' | ' | ' | 17,923 | ' | ' | ' |
Dividends declared: | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock | ' | ' | ' | ' | -805 | ' | ' | ' |
Common stock ($1.44, $1.20 and $1.00 per share for 2013, 2012 and 2011, respectively) | ' | ' | ' | ' | -5,585 | ' | ' | ' |
Other comprehensive income/(loss) | -2,903 | ' | ' | ' | ' | -2,903 | ' | ' |
Reissuance from RSU Trust | ' | ' | ' | ' | ' | ' | 0 | ' |
Purchase of treasury stock | ' | ' | ' | ' | ' | ' | ' | -4,789 |
Reissuance from treasury stock | ' | ' | ' | ' | ' | ' | ' | 1,944 |
Share repurchases related to employee stock-based compensation awards | ' | ' | ' | ' | ' | ' | ' | 0 |
Ending balance at Dec. 31, 2013 | $211,178 | $11,158 | $4,105 | $93,828 | $115,756 | $1,199 | ' | ($14,847) |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Dividends declared: | ' | ' | ' |
Common stock, dividends, per share | $1.44 | $1.20 | $1 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating activities | ' | ' | ' |
Net income | $17,923 | $21,284 | $18,976 |
Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | ' | ' | ' |
Provision for credit losses | 225 | 3,385 | 7,574 |
Depreciation and amortization | 4,669 | 4,190 | 4,257 |
Amortization of intangibles | 637 | 957 | 848 |
Deferred tax expense | 8,003 | 1,130 | 1,693 |
Investment securities gains | -667 | -2,110 | -1,593 |
Stock-based compensation | 2,219 | 2,545 | 2,675 |
Originations and purchases of loans held-for-sale | -75,928 | -34,026 | -52,561 |
Proceeds from sales, securitizations and paydowns of loans held-for-sale | 73,566 | 33,202 | 54,092 |
Net change in: | ' | ' | ' |
Trading assets | 89,110 | -5,379 | 36,443 |
Securities borrowed | 7,562 | 23,455 | -18,936 |
Accrued interest and accounts receivable | -2,340 | 1,732 | 8,655 |
Other assets | 526 | -4,683 | -15,456 |
Trading liabilities | -9,772 | -3,921 | 7,905 |
Accounts payable and other liabilities | -5,743 | -13,069 | 35,203 |
Other operating adjustments | -2,037 | -3,613 | 6,157 |
Net cash provided by operating activities | 107,953 | 25,079 | 95,932 |
Investing activities | ' | ' | ' |
Net change in deposits with banks | -194,363 | -36,595 | -63,592 |
Net change in federal funds sold and securities purchased under resale agreements | 47,726 | -60,821 | -12,490 |
Held-to-maturity securities: | ' | ' | ' |
Proceeds from paydowns and maturities | 189 | 4 | 6 |
Purchases | -24,214 | 0 | 0 |
Available-for-sale securities: | ' | ' | ' |
Proceeds from paydowns and maturities | 89,631 | 112,633 | 86,850 |
Proceeds from sales | 73,312 | 81,957 | 68,631 |
Purchases | -130,266 | -189,630 | -202,309 |
Proceeds from sales and securitizations of loans held-for-investment | 12,033 | 6,430 | 10,478 |
Other changes in loans, net | -23,721 | -30,491 | -58,365 |
Net cash (used in)/received from business acquisitions or dispositions | -149 | 88 | 102 |
All other investing activities, net | -679 | -3,400 | -63 |
Net cash used in investing activities | -150,501 | -119,825 | -170,752 |
Financing activities | ' | ' | ' |
Net change in deposits | 81,476 | 67,250 | 203,420 |
Net change in federal funds purchased and securities loaned or sold under repurchase agreements | -58,867 | 26,546 | -63,116 |
Net change in commercial paper and other borrowed funds | 2,784 | 9,315 | 7,230 |
Net change in beneficial interests issued by consolidated variable interest entities | -10,433 | 345 | 1,165 |
Proceeds from long-term borrowings and trust preferred securities | 83,546 | 86,271 | 54,844 |
Payments of long-term borrowings and trust preferred securities | -60,497 | -96,473 | -82,078 |
Excess tax benefits related to stock-based compensation | 137 | 255 | 867 |
Proceeds from issuance of preferred stock | 3,873 | 1,234 | 0 |
Redemption of preferred stock | -1,800 | 0 | 0 |
Treasury stock and warrants repurchased | -4,789 | -1,653 | -8,863 |
Dividends paid | -6,056 | -5,194 | -3,895 |
All other financing activities, net | -1,050 | -189 | -1,868 |
Net cash provided by financing activities | 28,324 | 87,707 | 107,706 |
Effect of exchange rate changes on cash and due from banks | 272 | 1,160 | -851 |
Net (decrease)/increase in cash and due from banks | -13,952 | -5,879 | 32,035 |
Cash and due from banks at the beginning of the period | 53,723 | 59,602 | 27,567 |
Cash and due from banks at the end of the period | 39,771 | 53,723 | 59,602 |
Cash interest paid | 9,573 | 11,161 | 13,725 |
Cash income taxes paid, net | $3,502 | $2,050 | $8,153 |
Basis_of_Presentation
Basis of Presentation | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Basis of Presentation [Abstract] | ' | |||
Basis of presentation | ' | |||
Basis of presentation | ||||
JPMorgan Chase & Co. (“JPMorgan Chase” or the “Firm”), a financial holding company incorporated under Delaware law in 1968, is a leading global financial services firm and one of the largest banking institutions in the United States of America (“U.S.”), with operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, asset management and private equity. For a discussion of the Firm’s business segments, see Note 33 on pages 334–337 of this Annual Report. | ||||
The accounting and financial reporting policies of JPMorgan Chase and its subsidiaries conform to accounting principles generally accepted in the U.S. (“U.S. GAAP”). Additionally, where applicable, the policies conform to the accounting and reporting guidelines prescribed by regulatory authorities. | ||||
Certain amounts reported in prior periods have been reclassified to conform with the current presentation. | ||||
Consolidation | ||||
The Consolidated Financial Statements include the accounts of JPMorgan Chase and other entities in which the Firm has a controlling financial interest. All material intercompany balances and transactions have been eliminated. The Firm determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity (“VIE”). | ||||
Voting Interest Entities | ||||
Voting interest entities are entities that have sufficient equity and provide the equity investors voting rights that enable them to make significant decisions relating to the entity’s operations. For these types of entities, the Firm’s determination of whether it has a controlling interest is primarily based on the amount of voting equity interests held. Entities in which the Firm has a controlling financial interest, through ownership of the majority of the entities’ voting equity interests, or through other contractual rights that give the Firm control, are consolidated by the Firm. | ||||
Investments in companies in which the Firm has significant influence over operating and financing decisions (but does not own a majority of the voting equity interests) are accounted for (i) in accordance with the equity method of accounting (which requires the Firm to recognize its proportionate share of the entity’s net earnings), or (ii) at fair value if the fair value option was elected. These investments are generally included in other assets, with income or loss included in other income. | ||||
Certain Firm-sponsored asset management funds are structured as limited partnerships or limited liability companies. For many of these entities, the Firm is the general partner or managing member, but the non-affiliated partners or members have the ability to remove the Firm as the general partner or managing member without cause (i.e., kick-out rights), based on a simple majority vote, or the non-affiliated partners or members have rights to participate in important decisions. Accordingly, the Firm does not consolidate these funds. In the limited cases where the nonaffiliated partners or members do not have substantive kick-out or participating rights, the Firm consolidates the funds. | ||||
The Firm’s investment companies make investments in both publicly-held and privately-held entities, including investments in buyouts, growth equity and venture opportunities. These investments are accounted for under investment company guidelines and accordingly, irrespective of the percentage of equity ownership interests held, are carried on the Consolidated Balance Sheets at fair value, and are recorded in other assets. | ||||
Variable Interest Entities | ||||
VIEs are entities that, by design, either (1) lack sufficient equity to permit the entity to finance its activities without additional subordinated financial support from other parties, or (2) have equity investors that do not have the ability to make significant decisions relating to the entity’s operations through voting rights, or do not have the obligation to absorb the expected losses, or do not have the right to receive the residual returns of the entity. | ||||
The most common type of VIE is a special purpose entity (“SPE”). SPEs are commonly used in securitization transactions in order to isolate certain assets and distribute the cash flows from those assets to investors. The basic SPE structure involves a company selling assets to the SPE; the SPE funds the purchase of those assets by issuing securities to investors. The legal documents that govern the transaction specify how the cash earned on the assets must be allocated to the SPE’s investors and other parties that have rights to those cash flows. SPEs are generally structured to insulate investors from claims on the SPE’s assets by creditors of other entities, including the creditors of the seller of the assets. | ||||
The primary beneficiary of a VIE (i.e., the party that has a controlling financial interest) is required to consolidate the assets and liabilities of the VIE. The primary beneficiary is the party that has both (1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance; and (2) through its interests in the VIE, the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. | ||||
To assess whether the Firm has the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance, the Firm considers all the facts and circumstances, including its role in establishing the VIE and its ongoing rights and responsibilities. This assessment includes, first, identifying the activities that most significantly impact the VIE’s economic performance; and second, identifying which party, if any, has power over those activities. In general, the parties that make the most significant decisions affecting the VIE (such as asset managers, collateral managers, servicers, or owners of call options or liquidation rights over the VIE’s assets) or have the right to unilaterally remove those decision-makers are deemed to have the power to direct the activities of a VIE. | ||||
To assess whether the Firm has the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE, the Firm considers all of its economic interests, including debt and equity investments, servicing fees, and derivative or other arrangements deemed to be variable interests in the VIE. This assessment requires that the Firm apply judgment in determining whether these interests, in the aggregate, are considered potentially significant to the VIE. Factors considered in assessing significance include: the design of the VIE, including its capitalization structure; subordination of interests; payment priority; relative share of interests held across various classes within the VIE’s capital structure; and the reasons why the interests are held by the Firm. | ||||
The Firm performs on-going reassessments of: (1) whether entities previously evaluated under the majority voting-interest framework have become VIEs, based on certain events, and therefore subject to the VIE consolidation framework; and (2) whether changes in the facts and circumstances regarding the Firm’s involvement with a VIE cause the Firm’s consolidation conclusion to change. | ||||
In January 2010, the Financial Accounting Standards Board (“FASB”) issued an amendment which deferred the requirements of the accounting guidance for VIEs for certain investment funds, including mutual funds, private equity funds and hedge funds. For the funds to which the deferral applies, the Firm continues to apply other existing authoritative accounting guidance to determine whether such funds should be consolidated. | ||||
Assets held for clients in an agency or fiduciary capacity by the Firm are not assets of JPMorgan Chase and are not included on the Consolidated Balance Sheets. | ||||
Use of estimates in the preparation of consolidated financial statements | ||||
The preparation of the Consolidated Financial Statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expense, and disclosures of contingent assets and liabilities. Actual results could be different from these estimates. | ||||
Foreign currency translation | ||||
JPMorgan Chase revalues assets, liabilities, revenue and expense denominated in non-U.S. currencies into U.S. dollars using applicable exchange rates. | ||||
Gains and losses relating to translating functional currency financial statements for U.S. reporting are included in other comprehensive income/(loss) (“OCI”) within stockholders’ equity. Gains and losses relating to nonfunctional currency transactions, including non-U.S. operations where the functional currency is the U.S. dollar, are reported in the Consolidated Statements of Income. | ||||
Offsetting assets and liabilities | ||||
U.S. GAAP permits entities to present derivative receivables and derivative payables with the same counterparty and the related cash collateral receivables and payables on a net basis on the balance sheet when a legally enforceable master netting agreement exists. U.S. GAAP also permits securities sold and purchased under repurchase agreements to be presented net when specified conditions are met, including the existence of a legally enforceable master netting agreement. The Firm has elected to net such balances when the specified conditions are met. | ||||
The Firm uses master netting agreements to mitigate counterparty credit risk in certain transactions, including derivatives transactions, repurchase and reverse repurchase agreements, and securities borrowed and loaned agreements. A master netting agreement is a single contract with a counterparty that permits multiple transactions governed by that contract to be terminated and settled through a single payment in a single currency in the event of a default (e.g., bankruptcy, failure to make a required payment or securities transfer or deliver collateral or margin when due after expiration of any grace period). Upon the exercise of termination rights by the non-defaulting party, (i) all transactions are terminated, (ii) all transactions are valued and the positive value or “in the money” transactions are netted against the negative value or “out of the money” transactions and (iii) the only remaining payment obligation is of one of the parties to pay the netted termination amount. Upon exercise of repurchase agreement and securities loaned default rights (i) all securities loan transactions are terminated and accelerated, (ii) all values of securities or cash held or to be delivered are calculated, and all such sums are netted against each other and (iii) the only remaining payment obligation is of one of the parties to pay the netted termination amount. | ||||
Typical master netting agreements for these types of transactions also often contain a collateral/margin agreement that provides for a security interest in or title transfer of securities or cash collateral/margin to the party that has the right to demand margin (the “demanding party”). The collateral/margin agreement typically requires a party to transfer collateral/margin to the demanding party with a value equal to the amount of the margin deficit on a net basis across all transactions governed by the master netting agreement, less any threshold. The collateral/margin agreement grants to the demanding party, upon default by the counterparty, the right to set-off any amounts payable by the counterparty against any posted collateral or the cash equivalent of any posted collateral/margin. It also grants to the demanding party the right to liquidate collateral/margin and to apply the proceeds to an amount payable by the counterparty. | ||||
For further discussion of the Firm’s derivative instruments, see Note 6 on pages 220–233 of this Annual Report. For further discussion of the Firm’s repurchase and reverse repurchase agreements, and securities borrowing and lending agreements, see Note 13 on pages 255–257 of this Annual Report. | ||||
Statements of cash flows | ||||
For JPMorgan Chase’s Consolidated Statements of Cash Flows, cash is defined as those amounts included in cash and due from banks. | ||||
Significant accounting policies | ||||
The following table identifies JPMorgan Chase’s other significant accounting policies and the Note and page where a detailed description of each policy can be found. | ||||
Business changes and developments | Note 2 | Page 192 | ||
Fair value measurement | Note 3 | Page 195 | ||
Fair value option | Note 4 | Page 215 | ||
Derivative instruments | Note 6 | Page 220 | ||
Noninterest revenue | Note 7 | Page 234 | ||
Interest income and interest expense | Note 8 | Page 236 | ||
Pension and other postretirement employee benefit plans | Note 9 | Page 237 | ||
Employee stock-based incentives | Note 10 | Page 247 | ||
Securities | Note 12 | Page 249 | ||
Securities financing activities | Note 13 | Page 255 | ||
Loans | Note 14 | Page 258 | ||
Allowance for credit losses | Note 15 | Page 284 | ||
Variable interest entities | Note 16 | Page 288 | ||
Goodwill and other intangible assets | Note 17 | Page 299 | ||
Premises and equipment | Note 18 | Page 305 | ||
Long-term debt | Note 21 | Page 306 | ||
Income taxes | Note 26 | Page 313 | ||
Off–balance sheet lending-related financial instruments, guarantees and other commitments | Note 29 | Page 318 | ||
Litigation | Note 31 | Page 326 |
Business_Changes_and_Developme
Business Changes and Developments | 12 Months Ended |
Dec. 31, 2013 | |
Business Changes and Developments [Abstract] | ' |
Business changes and developments | ' |
Business changes and developments | |
Student loan business | |
In September 2013, the Firm announced it ceased student loan originations. | |
Physical commodities businesses | |
On July 26, 2013 the Firm announced that it is pursuing strategic alternatives for its physical commodities businesses. Pursuant to that announcement, the Firm is exploring the sale of certain physical commodities operations, including physical oil, gas, power, warehousing facilities and transportation operations. During this process, the Firm will continue to run its physical commodities business as a going concern. The Firm remains fully committed to its traditional banking activities in the commodities markets, including financial derivatives and the trading of precious metals, which are not part of these strategic alternatives. | |
One Equity Partners | |
As announced on June 14, 2013, One Equity Partners (“OEP”) is expected to raise its next fund from an external group of limited partners and then become independent from JPMorgan Chase. Until it becomes independent from the Firm, OEP will continue to make direct investments for JPMorgan Chase, and thereafter is expected to continue managing the then-existing group of portfolio companies for JPMorgan Chase in order to maximize value for the Firm. | |
Other business events | |
Visa B Shares | |
In December 2013, JP Morgan Chase sold 20 million Visa Class B shares, resulting in a net pre-tax gain of approximately $1.3 billion recorded in other income. In conjunction with the sale, the Firm entered into a derivative instrument with the purchaser under which the Firm will (a) make periodic fixed payments, calculated by reference to the market price of Visa Class A common shares and (b) make or receive payments based on subsequent changes in the conversion rate of Visa Class B shares into Visa Class A shares. The payments under the derivative continue as long as Class B shares remain “restricted”. The derivative is accounted for as a trading liability. The fair value of the derivative is estimated using a discounted cash flow methodology and is dependent upon the final resolution of certain Visa litigation matters; changes in fair value will be recognized in other income. | |
After the sale, the Firm continues to own approximately 40 million Visa Class B shares. These shares will be converted into Visa Class A shares upon final resolution of certain Visa litigation matters; the conversion rate of Visa Class B shares to Visa Class A shares is 0.4206 as of December 31, 2013 and will be adjusted by Visa depending on developments related to certain Visa litigation matters. | |
One Chase Manhattan Plaza | |
On December 17, 2013, the Firm sold One Chase Manhattan Plaza, an office building located in New York City, and recognized a pretax gain of $493 million in Other Income. | |
Settlement with the President’s Task Force on Residential Mortgage-Backed Securities (“RMBS”) | |
On November 19, 2013, the Firm announced a resolution of actual and potential civil claims by a number of federal and state government agencies, including the U.S. Department of Justice and, several State Attorneys General, as well as litigation by the Federal Deposit Insurance Corporation, the National Credit Union Administration and the Federal Housing Finance Agency relating to residential mortgage-backed securities activities by JPMorgan Chase, Bear Stearns and Washington Mutual (the "RMBS settlement"). Under the settlement, the Firm paid a total of $9 billion in cash, and committed to provide $4 billion in borrower relief. The cash portion consists of a $2 billion civil monetary penalty and $7 billion in compensatory payments, including $4 billion to resolve the Federal Housing Finance Agency | |
litigation (see "Mortgage-backed securities settlements with the Federal Housing Finance Agency, Freddie Mac, and Fannie Mae" below). The $4 billion of borrower relief will be in the form of principal reduction, forbearance and other direct benefits from various relief programs. The Firm has committed to complete the delivery of the relief to borrowers before the end of 2017. | |
The Firm’s 2013 results of operations reflected the estimated costs of the settlement (i.e., the cash payments as well as the borrower relief). The estimated impact of the cash settlement has been considered in the Firm’s legal reserve, whereas the impact of the borrower relief portion of the settlement has been considered in the allowance for loan losses. | |
RMBS Trust Settlement | |
On November 15, 2013, the Firm announced it had reached a $4.5 billion agreement with 21 major institutional investors to make a binding offer to the trustees of 330 residential mortgage-backed securities trusts issued by J.P. Morgan, Chase, and Bear Stearns (“RMBS Trust Settlement”) to resolve all representation and warranty claims, as well as all servicing claims, on all trusts issued by J.P. Morgan, Chase, and Bear Stearns between 2005 and 2008. The RMBS Trust Settlement is under consideration by the trustees and may be subject to court approval. This agreement does not resolve claims on trusts issued by Washington Mutual. For further information about the RMBS Trust Settlement, see Note 31 on pages 326–332 of this Annual Report. | |
Mortgage-backed securities settlements with the Federal Housing Finance Agency, Freddie Mac and Fannie Mae | |
On October 25, 2013, the Firm announced that it had reached a $4.0 billion agreement to resolve all of its mortgage-backed securities (“MBS”) litigation with the Federal Housing Finance Agency (“FHFA”) as conservator for Freddie Mac and Fannie Mae. The Firm also simultaneously agreed to resolve, for $1.1 billion, other than certain limited types of exposures, outstanding and future mortgage repurchase demands associated with loans sold to the GSEs from 2000 to 2008 ("FHFA Settlement Agreement"). | |
Mortgage foreclosure settlement agreement with the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System | |
On January 7, 2013, the Firm announced that it and a number of other financial institutions entered into a settlement agreement with the Office of the Comptroller of the Currency (“OCC”) and the Board of Governors of the Federal Reserve System (“Federal Reserve”) providing for the termination of the independent foreclosure review programs (the “Independent Foreclosure Review”). Under this settlement, the Firm made a cash payment of approximately $760 million into a settlement fund for distribution to qualified borrowers. The Firm has also committed $1.2 billion to foreclosure prevention actions, which will be fulfilled through credits given to the Firm for modifications, short sales and other specified types of borrower relief. Foreclosure prevention actions that earn credit under the Independent Foreclosure Review settlement are in addition to actions taken by the Firm to earn credit under the global settlement entered into by the Firm with state and federal agencies (see "Global settlement on servicing and origination of mortgages" below). The estimated impact of the foreclosure prevention actions required under the Independent Foreclosure Review settlement have been considered in the Firm’s allowance for loan losses. The Firm recognized a pretax charge of approximately $700 million in the fourth quarter of 2012 related to the Independent Foreclosure Review settlement. | |
Washington Mutual, Inc. bankruptcy plan confirmation | |
On March 19, 2012, a bankruptcy court approved the joint plan containing the global settlement agreement resolving numerous disputes among Washington Mutual, Inc. (“WMI”), JPMorgan Chase and the Federal Deposit Insurance Corporation (“FDIC”) as well as significant creditor groups (the “WaMu Global Settlement”). The Firm recognized additional assets, including certain pension-related assets, as well as tax refunds, resulting in a pretax gain of $1.1 billion in 2012. | |
Global settlement on servicing and origination of mortgages | |
On February 9, 2012, the Firm announced that it had agreed to a settlement in principle (the “global settlement”) with a number of federal and state government agencies, including the U.S. Department of Justice (“DOJ”), the U.S. Department of Housing and Urban Development, the Consumer Financial Protection Bureau and the State Attorneys General, relating to the servicing and origination of mortgages. | |
The global settlement releases the Firm from certain further claims by the participating government entities related to servicing activities, including foreclosures and loss mitigation activities; certain origination activities; and certain bankruptcy-related activities. Not included in the global settlement are any claims arising out of securitization activities, including representations made to investors with respect to mortgage-backed securities; criminal claims; and repurchase demands from U.S. government-sponsored entities (“GSEs”), among other items. | |
Also on February 9, 2012, the Firm entered into agreements with the Federal Reserve and the OCC for the payment of civil money penalties related to conduct that was the subject of consent orders entered into with the banking regulators in April 2011. | |
Subsequent events | |
Settlement agreement with The U.S. Departments Of Justice, Housing and Urban Development, and Veterans Affairs, and The Federal Housing Administration | |
On February 4, 2014, the Firm announced that it had reached a settlement with the U.S. Attorney’s Office for the Southern District of New York, Federal Housing Administration (“FHA”), the U.S. Department of Housing and Urban Development (“HUD”), and the U.S. Department of Veterans Affairs (“VA”) resolving claims relating to the Firm’s participation in federal mortgage insurance programs overseen by FHA, HUD and VA (“FHA Settlement”). Under the FHA Settlement, which relates to FHA and VA insurance claims that have been paid to the Firm from 2002 through the date of the settlement, the Firm will pay $614 million in cash, and agree to enhance its quality control program for loans that are submitted in the future to FHA’s Direct Endorsement Lender Program. The Firm is fully reserved for the settlement, and any financial impact related to exposure on future claims is not expected to be significant. | |
Madoff Litigation and Investigations | |
On January 7, 2014, the Firm announced that certain of its bank subsidiaries had entered into settlements with various governmental agencies in resolution of investigations relating to Bernard L. Madoff Investment Securities LLC (“BLMIS”). The Firm and certain of its subsidiaries also entered into settlements with several private parties in resolution of civil litigation relating to BLMIS. At the same time, certain bank subsidiaries of the Firm consented to the assessment of a civil money penalty by the OCC in connection with various Bank Secrecy Act/Anti-Money Laundering deficiencies, including with relation to the BLMIS fraud, and JPMorgan Chase Bank, N.A. additionally agreed to the assessment of a civil money penalty by the Financial Crimes Enforcement Network for failure to detect and adequately report suspicious transactions relating to BLMIS. For further information on these settlements, see Note 31 on pages 326–332 of this Annual Report. |
Fair_Value_Measurement
Fair Value Measurement | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||
Fair value measurement | ' | |||||||||||||||||||||||||||||||
Fair value measurement | ||||||||||||||||||||||||||||||||
JPMorgan Chase carries a portion of its assets and liabilities at fair value. These assets and liabilities are predominantly carried at fair value on a recurring basis (i.e., assets and liabilities that are measured and reported at fair value on the Firm’s Consolidated Balance Sheets). Certain assets (e.g., certain mortgage, home equity and other loans, where the carrying value is based on the fair value of the underlying collateral), liabilities and unfunded lending-related commitments are measured at fair value on a nonrecurring basis; that is, they are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances (for example, when there is evidence of impairment). | ||||||||||||||||||||||||||||||||
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is based on quoted market prices, where available. If listed prices or quotes are not available, fair value is based on models that consider relevant transaction characteristics (such as maturity) and use as inputs observable or unobservable market parameters, including but not limited to yield curves, interest rates, volatilities, equity or debt prices, foreign exchange rates and credit curves. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value, as described below. | ||||||||||||||||||||||||||||||||
Imprecision in estimating unobservable market inputs or other factors can affect the amount of gain or loss recorded for a particular position. Furthermore, while the Firm believes its valuation methods are appropriate and consistent with those of other market participants, the methods and assumptions used reflect management judgment and may vary across the Firm’s businesses and portfolios. | ||||||||||||||||||||||||||||||||
The Firm uses various methodologies and assumptions in the determination of fair value. The use of different methodologies or assumptions to those used by the Firm could result in a different estimate of fair value at the reporting date. | ||||||||||||||||||||||||||||||||
Valuation process | ||||||||||||||||||||||||||||||||
Risk-taking functions are responsible for providing fair value estimates for assets and liabilities carried on the Consolidated Balance Sheets at fair value. The Firm’s valuation control function, which is part of the Firm’s Finance function and independent of the risk-taking functions, is responsible for verifying these estimates and determining any fair value adjustments that may be required to ensure that the Firm’s positions are recorded at fair value. In addition, the Firm has a firmwide Valuation Governance Forum (“VGF”) comprising senior finance and risk executives to oversee the management of risks arising from valuation activities conducted across the Firm. The VGF is chaired by the firm-wide head of the valuation control function, and also includes sub-forums for the Corporate & Investment Bank (“CIB”), Mortgage Banking, (part of Consumer & Community Banking) and certain corporate functions including Treasury and Chief Investment Office (“CIO”). | ||||||||||||||||||||||||||||||||
The valuation control function verifies fair value estimates leveraging independently derived prices, valuation inputs and other market data, where available. Where independent prices or inputs are not available, additional review is performed by the valuation control function to ensure the reasonableness of estimates that cannot be verified to external independent data, and may include: evaluating the limited market activity including client unwinds; benchmarking of valuation inputs to those for similar instruments; decomposing the valuation of structured instruments into individual components; comparing expected to actual cash flows; reviewing profit and loss trends; and reviewing trends in collateral valuation. In addition there are additional levels of management review for more significant or complex positions. | ||||||||||||||||||||||||||||||||
The valuation control function determines any valuation adjustments that may be required to the estimates provided by the risk-taking functions. No adjustments are applied to the quoted market price for instruments classified within level 1 of the fair value hierarchy (see below for further information on the fair value hierarchy). For other positions, judgment is required to assess the need for valuation adjustments to appropriately reflect liquidity considerations, unobservable parameters, and, for certain portfolios that meet specified criteria, the size of the net open risk position. The determination of such adjustments follows a consistent framework across the Firm: | ||||||||||||||||||||||||||||||||
• | Liquidity valuation adjustments are considered when the Firm may not be able to observe a recent market price for a financial instrument that trades in an inactive (or less active) market. The Firm estimates the amount of uncertainty in the initial fair value estimate based on the degree of liquidity in the market. Factors that may be considered in determining the liquidity adjustment include: (1) the amount of time since the last relevant pricing point; (2) whether there was an actual trade or relevant external quotes or alternatively pricing points for similar instruments in active markets; and (3) the volatility of the principal risk component of the financial instrument. | |||||||||||||||||||||||||||||||
The Firm manages certain portfolios of financial instruments on the basis of net open risk exposure and, as permitted by US GAAP, has elected to estimate the fair value of such portfolios on the basis of a transfer of the entire net open risk position in an orderly transaction. Where this is the case, valuation adjustments may be necessary to reflect the cost of exiting a larger-than-normal market-size net open risk position. Where applied, such adjustments are based on factors that a relevant market participant would consider in the transfer of the net open risk position including the size of the adverse market move that is likely to occur during the period required to reduce the net open risk position to a normal market-size. | ||||||||||||||||||||||||||||||||
• | Unobservable parameter valuation adjustments may be made when positions are valued using internally developed models that incorporate unobservable parameters – that is, parameters that must be estimated and are, therefore, subject to management judgment. Unobservable parameter valuation adjustments are applied to reflect the uncertainty inherent in the valuation estimate provided by the model. | |||||||||||||||||||||||||||||||
Where appropriate, the Firm also applies adjustments to its estimates of fair value in order to appropriately reflect counterparty credit quality and the Firm’s own creditworthiness, applying a consistent framework across the Firm. For more information on such adjustments see Credit adjustments on page 212 of this Note | ||||||||||||||||||||||||||||||||
Impact of funding on valuation estimates | ||||||||||||||||||||||||||||||||
The Firm incorporates the impact of funding in its valuation estimates where there is evidence that a market participant in the principal market would incorporate it in a transfer of the instrument. As a result, the fair value of collateralized derivatives is estimated by discounting expected future cash flows at the relevant overnight indexed swap (“OIS”) rate given the underlying collateral agreement with the counterparty. Prior to the fourth quarter of 2013, the Firm did not incorporate the impact of funding in its valuation of uncollateralized (including partially collateralized) derivatives and structured notes. However, during the fourth quarter of 2013, the Firm implemented a funding valuation adjustment (“FVA”) framework to incorporate its best estimate of the funding cost or benefit that a relevant market participant would consider in the transfer of an OTC derivative or structured note. As a result, the Firm recorded a one time $1.5 billion loss in principal transactions revenue in the fourth quarter, which was recorded in the CIB. | ||||||||||||||||||||||||||||||||
The FVA framework applies to both assets and liabilities, but the adjustment in the fourth quarter largely relates to uncollateralized derivative receivables given that the impact of the Firm’s own credit risk, which is a significant component of funding costs, is already incorporated in the valuation of liabilities through the application of DVA. | ||||||||||||||||||||||||||||||||
Valuation model review and approval | ||||||||||||||||||||||||||||||||
If prices or quotes are not available for an instrument or a similar instrument, fair value is generally determined using valuation models that consider relevant transaction data such as maturity and use as inputs market-based or independently sourced parameters. Where this is the case the price verification process described above is applied to the inputs to those models. | ||||||||||||||||||||||||||||||||
The Firm’s Model Risk function within the Firm’s Model Risk and Development Group, which in turn reports to the Chief Risk Officer, reviews and approves valuation models used by the Firm. Model reviews consider a number of factors about the model’s suitability for valuation of a particular product including whether it accurately reflects the characteristics and significant risks of a particular instrument; the selection and reliability of model inputs; consistency with models for similar products; the appropriateness of any model-related adjustments; and sensitivity to input parameters and assumptions that cannot be observed from the market. When reviewing a model, the Model Risk function analyzes and challenges the model methodology and the reasonableness of model assumptions and may perform or require additional testing, including back-testing of model outcomes. | ||||||||||||||||||||||||||||||||
New significant valuation models, as well as material changes to existing models, are reviewed and approved prior to implementation except where specified conditions are met. The Model Risk function performs an annual firmwide model risk assessment where developments in the product or market are considered in determining whether valuation models which have already been reviewed need to be reviewed and approved again. | ||||||||||||||||||||||||||||||||
Valuation hierarchy | ||||||||||||||||||||||||||||||||
A three-level valuation hierarchy has been established under U.S. GAAP for disclosure of fair value measurements. The valuation hierarchy is based on the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows. | ||||||||||||||||||||||||||||||||
• | Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. | |||||||||||||||||||||||||||||||
• | Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. | |||||||||||||||||||||||||||||||
• | Level 3 – one or more inputs to the valuation methodology are unobservable and significant to the fair value measurement. | |||||||||||||||||||||||||||||||
A financial instrument’s categorization within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. | ||||||||||||||||||||||||||||||||
The following table describes the valuation methodologies used by the Firm to measure its more significant products/instruments at fair value, including the general classification of such instruments pursuant to the valuation hierarchy. | ||||||||||||||||||||||||||||||||
Product/instrument | Valuation methodology | Classifications in the valuation hierarchy | ||||||||||||||||||||||||||||||
Securities financing agreements | Valuations are based on discounted cash flows, which consider: | Level 2 | ||||||||||||||||||||||||||||||
• Derivative features. For further information refer to the | ||||||||||||||||||||||||||||||||
discussion of derivatives below. | ||||||||||||||||||||||||||||||||
• Market rates for the respective maturity | ||||||||||||||||||||||||||||||||
• Collateral | ||||||||||||||||||||||||||||||||
Loans and lending-related commitments - wholesale | ||||||||||||||||||||||||||||||||
Trading portfolio | Where observable market data is available, valuations are based on: | Level 2 or 3 | ||||||||||||||||||||||||||||||
• Observed market prices (circumstances are limited) | ||||||||||||||||||||||||||||||||
• Relevant broker quotes | ||||||||||||||||||||||||||||||||
• Observed market prices for similar instruments | ||||||||||||||||||||||||||||||||
Where observable market data is unavailable or limited, valuations are based on discounted cash flows, which consider the following: | ||||||||||||||||||||||||||||||||
• Yield | ||||||||||||||||||||||||||||||||
• Lifetime credit losses | ||||||||||||||||||||||||||||||||
• Loss severity | ||||||||||||||||||||||||||||||||
• Prepayment speed | ||||||||||||||||||||||||||||||||
• Servicing costs | ||||||||||||||||||||||||||||||||
Loans held for investment and associated lending related commitments | Valuations are based on discounted cash flows, which consider: | Predominantly level 3 | ||||||||||||||||||||||||||||||
• Credit spreads, derived from the cost of CDS; or benchmark credit curves developed by the Firm, by industry and credit rating, and which take into account the difference in loss severity rates between bonds and loans | ||||||||||||||||||||||||||||||||
• Prepayment speed | ||||||||||||||||||||||||||||||||
Lending related commitments are valued similar to loans and reflect the portion of an unused commitment expected, based on the Firm’s average portfolio historical experience, to become funded prior to an obligor default | ||||||||||||||||||||||||||||||||
For information regarding the valuation of loans measured at collateral value, see Note 14 on pages 258-283 of this Annual Report. | ||||||||||||||||||||||||||||||||
Loans - consumer | ||||||||||||||||||||||||||||||||
Held for investment consumer loans, excluding credit card | Valuations are based on discounted cash flows, which consider: | Predominantly level 3 | ||||||||||||||||||||||||||||||
• Discount rates (derived from primary origination rates and market activity) | ||||||||||||||||||||||||||||||||
• Expected lifetime credit losses (considering expected and current default rates for existing portfolios, collateral prices, and economic environment expectations (i.e., unemployment rates)) | ||||||||||||||||||||||||||||||||
• Estimated prepayments | ||||||||||||||||||||||||||||||||
• Servicing costs | ||||||||||||||||||||||||||||||||
• Market liquidity | ||||||||||||||||||||||||||||||||
For information regarding the valuation of loans measured at collateral value, see Note 14 on pages 258-283 of this Annual Report. | ||||||||||||||||||||||||||||||||
Held for investment credit card receivables | Valuations are based on discounted cash flows, which consider: | Level 3 | ||||||||||||||||||||||||||||||
• Projected interest income and late fee revenue, funding, servicing and credit costs, and loan repayment rates | ||||||||||||||||||||||||||||||||
• Estimated life of receivables (based on projected loan payment rates) | ||||||||||||||||||||||||||||||||
• Discount rate - based on expected return on receivables | ||||||||||||||||||||||||||||||||
• Credit costs - allowance for loan losses is considered a reasonable proxy for the credit cost based on the short-term nature of credit card receivables | ||||||||||||||||||||||||||||||||
Trading loans - Conforming residential mortgage loans expected to be sold | Fair value is based upon observable prices for mortgage-backed securities with similar collateral and incorporates adjustments to these prices to account for differences between the securities and the value of the underlying loans, which include credit characteristics, portfolio composition, and liquidity. | Predominantly level 2 | ||||||||||||||||||||||||||||||
Product/instrument | Valuation methodology, inputs and assumptions | Classifications in the valuation hierarchy | ||||||||||||||||||||||||||||||
Securities | Quoted market prices are used where available. | Level 1 | ||||||||||||||||||||||||||||||
In the absence of quoted market prices, securities are valued based on: | Level 2 or 3 | |||||||||||||||||||||||||||||||
• Observable market prices for similar securities | ||||||||||||||||||||||||||||||||
• Relevant broker quotes | ||||||||||||||||||||||||||||||||
• Discounted cash flows | ||||||||||||||||||||||||||||||||
In addition, the following inputs to discounted cash flows are used for the following products: | ||||||||||||||||||||||||||||||||
Mortgage- and asset-backed securities specific inputs: | ||||||||||||||||||||||||||||||||
• Collateral characteristics | ||||||||||||||||||||||||||||||||
• Deal-specific payment and loss allocations | ||||||||||||||||||||||||||||||||
• Current market assumptions related to yield, prepayment speed, conditional default rates and loss severity | ||||||||||||||||||||||||||||||||
Collateralized loan obligations (“CLOs”), specific inputs: | ||||||||||||||||||||||||||||||||
• Collateral characteristics | ||||||||||||||||||||||||||||||||
• Deal-specific payment and loss allocations | ||||||||||||||||||||||||||||||||
• Expected prepayment speed, conditional default rates, loss severity | ||||||||||||||||||||||||||||||||
• Credit spreads | ||||||||||||||||||||||||||||||||
• Credit rating data | ||||||||||||||||||||||||||||||||
Physical commodities | Valued using observable market prices or data | Predominantly Level 1 and 2 | ||||||||||||||||||||||||||||||
Derivatives | Exchange-traded derivatives that are actively traded and valued using the exchange price, and over-the-counter contracts where quoted prices are available in an active market. | Level 1 | ||||||||||||||||||||||||||||||
Derivatives that are valued using models such as the Black-Scholes option pricing model, simulation models, or a combination of models, that use observable or unobservable valuation inputs (e.g. plain vanilla options and interest rate and credit default swaps). Inputs include: | Level 2 or 3 | |||||||||||||||||||||||||||||||
• Contractual terms including the period to maturity | ||||||||||||||||||||||||||||||||
• Readily observable parameters including interest rates and volatility | ||||||||||||||||||||||||||||||||
• Credit quality of the counterparty and of the Firm | ||||||||||||||||||||||||||||||||
• Market funding levels | ||||||||||||||||||||||||||||||||
• Correlation levels | ||||||||||||||||||||||||||||||||
In addition, the following specific inputs are used for the following derivatives that are valued based on models with significant unobservable inputs: | ||||||||||||||||||||||||||||||||
Structured credit derivatives specific inputs include: | ||||||||||||||||||||||||||||||||
• CDS spreads and recovery rates | ||||||||||||||||||||||||||||||||
• Credit correlation between the underlying debt instruments (levels are modeled on a transaction basis and calibrated to liquid benchmark tranche indices) | ||||||||||||||||||||||||||||||||
• Actual transactions, where available, are used to regularly recalibrate unobservable parameters | ||||||||||||||||||||||||||||||||
Certain long-dated equity option specific inputs include: | ||||||||||||||||||||||||||||||||
• Long-dated equity volatilities | ||||||||||||||||||||||||||||||||
Certain interest rate and FX exotic options specific inputs include: | ||||||||||||||||||||||||||||||||
• Interest rate correlation | ||||||||||||||||||||||||||||||||
• Interest rate spread volatility | ||||||||||||||||||||||||||||||||
• Foreign exchange correlation | ||||||||||||||||||||||||||||||||
• Correlation between interest rates and foreign exchange rates | ||||||||||||||||||||||||||||||||
• Parameters describing the evolution of underlying interest rates | ||||||||||||||||||||||||||||||||
Certain commodity derivatives specific inputs include: | ||||||||||||||||||||||||||||||||
• Commodity volatility | ||||||||||||||||||||||||||||||||
• Forward commodity price | ||||||||||||||||||||||||||||||||
Adjustments to reflect counterparty credit quality (credit valuation adjustments or “CVA”), the Firms own creditworthiness (debit valuation adjustments or “DVA”), and FVA to incorporate the impact of funding see page 212 of this Note. | ||||||||||||||||||||||||||||||||
Product/instrument | Valuation methodology, inputs and assumptions | Classification in the valuation hierarchy | ||||||||||||||||||||||||||||||
Mortgage servicing rights (“MSRs”) | See Mortgage servicing rights in Note 17 on pages 299-304 of this Annual Report. | Level 3 | ||||||||||||||||||||||||||||||
Private equity direct investments | Private equity direct investments | Level 3 | ||||||||||||||||||||||||||||||
Fair value is estimated using all available information and considering the range of potential inputs, including: | ||||||||||||||||||||||||||||||||
• Transaction prices | ||||||||||||||||||||||||||||||||
• Trading multiples of comparable public companies | ||||||||||||||||||||||||||||||||
• Operating performance of the underlying portfolio company | ||||||||||||||||||||||||||||||||
• Additional available inputs relevant to the investment | ||||||||||||||||||||||||||||||||
• Adjustments as required, since comparable public companies are not identical to the company being valued, and for company-specific issues and lack of liquidity | ||||||||||||||||||||||||||||||||
Public investments held in the Private Equity portfolio | Level 1 or 2 | |||||||||||||||||||||||||||||||
• Valued using observable market prices less adjustments for relevant restrictions, where applicable | ||||||||||||||||||||||||||||||||
Fund investments (i.e., mutual/collective investment funds, private equity funds, hedge funds, and real estate funds) | Net asset value (“NAV”) | |||||||||||||||||||||||||||||||
• NAV is validated by sufficient level of observable activity (i.e., purchases and sales) | Level 1 | |||||||||||||||||||||||||||||||
• Adjustments to the NAV as required, for restrictions on redemption (e.g., lock up periods or withdrawal limitations) or where observable activity is limited | Level 2 or 3 | |||||||||||||||||||||||||||||||
Beneficial interests issued by consolidated VIE | Valued using observable market information, where available | Level 2 or 3 | ||||||||||||||||||||||||||||||
In the absence of observable market information, valuations are based on the fair value of the underlying assets held by the VIE | ||||||||||||||||||||||||||||||||
Long-term debt, not carried at fair value | Valuations are based on discounted cash flows, which consider: | Predominantly level 2 | ||||||||||||||||||||||||||||||
• Market rates for respective maturity | ||||||||||||||||||||||||||||||||
• The Firm’s own creditworthiness (DVA), see page 212 of this Note. | ||||||||||||||||||||||||||||||||
Structured notes (included in deposits, other borrowed funds and long-term debt) | • Valuations are based on discounted cash flow analyses that consider the embedded derivative and the terms and payment structure of the note. | Level 2 or 3 | ||||||||||||||||||||||||||||||
• The embedded derivative features are considered using models such as the Black-Scholes option pricing model, simulation models, or a combination of models that use observable or unobservable valuation inputs, depending on the embedded derivative. The specific inputs used vary according to the nature of the embedded derivative features, as described in the discussion above regarding derivative valuation. Adjustments are then made to this base valuation to reflect the Firm’s own credit risk (DVA) and to incorporate the impact of funding (FVA). See page 212 of this Note. | ||||||||||||||||||||||||||||||||
The following table presents the asset and liabilities measured at fair value as of December 31, 2013 and 2012 by major product category and fair value hierarchy. | ||||||||||||||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||||||||||||||||||||||||||||
Fair value hierarchy | ||||||||||||||||||||||||||||||||
December 31, 2013 (in millions) | Level 1 | Level 2 | Level 3 | Netting adjustments | Total fair value | |||||||||||||||||||||||||||
Federal funds sold and securities purchased under resale agreements | $ | — | $ | 25,135 | $ | — | $ | — | $ | 25,135 | ||||||||||||||||||||||
Securities borrowed | — | 3,739 | — | — | 3,739 | |||||||||||||||||||||||||||
Trading assets: | ||||||||||||||||||||||||||||||||
Debt instruments: | ||||||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies(a) | 4 | 25,582 | 1,005 | — | 26,591 | |||||||||||||||||||||||||||
Residential – nonagency | — | 1,749 | 726 | — | 2,475 | |||||||||||||||||||||||||||
Commercial – nonagency | — | 871 | 432 | — | 1,303 | |||||||||||||||||||||||||||
Total mortgage-backed securities | 4 | 28,202 | 2,163 | — | 30,369 | |||||||||||||||||||||||||||
U.S. Treasury and government agencies(a) | 14,933 | 10,547 | — | — | 25,480 | |||||||||||||||||||||||||||
Obligations of U.S. states and municipalities | — | 6,538 | 1,382 | — | 7,920 | |||||||||||||||||||||||||||
Certificates of deposit, bankers’ acceptances and commercial paper | — | 3,071 | — | — | 3,071 | |||||||||||||||||||||||||||
Non-U.S. government debt securities | 25,762 | 22,379 | 143 | — | 48,284 | |||||||||||||||||||||||||||
Corporate debt securities | — | 24,802 | 5,920 | — | 30,722 | |||||||||||||||||||||||||||
Loans(b) | — | 17,331 | 13,455 | — | 30,786 | |||||||||||||||||||||||||||
Asset-backed securities | — | 3,647 | 1,272 | — | 4,919 | |||||||||||||||||||||||||||
Total debt instruments | 40,699 | 116,517 | 24,335 | — | 181,551 | |||||||||||||||||||||||||||
Equity securities | 107,667 | 954 | 885 | — | 109,506 | |||||||||||||||||||||||||||
Physical commodities(c) | 4,968 | 5,217 | 4 | — | 10,189 | |||||||||||||||||||||||||||
Other | — | 5,659 | 2,000 | — | 7,659 | |||||||||||||||||||||||||||
Total debt and equity instruments(d) | 153,334 | 128,347 | 27,224 | — | 308,905 | |||||||||||||||||||||||||||
Derivative receivables: | ||||||||||||||||||||||||||||||||
Interest rate | 419 | 848,862 | 5,398 | (828,897 | ) | 25,782 | ||||||||||||||||||||||||||
Credit | — | 79,754 | 3,766 | (82,004 | ) | 1,516 | ||||||||||||||||||||||||||
Foreign exchange | 434 | 151,521 | 1,644 | (136,809 | ) | 16,790 | ||||||||||||||||||||||||||
Equity | — | 45,892 | 7,039 | (40,704 | ) | 12,227 | ||||||||||||||||||||||||||
Commodity | 320 | 34,696 | 722 | (26,294 | ) | 9,444 | ||||||||||||||||||||||||||
Total derivative receivables(e) | 1,173 | 1,160,725 | 18,569 | (1,114,708 | ) | 65,759 | ||||||||||||||||||||||||||
Total trading assets | 154,507 | 1,289,072 | 45,793 | (1,114,708 | ) | 374,664 | ||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies(a) | — | 77,815 | — | — | 77,815 | |||||||||||||||||||||||||||
Residential – nonagency | — | 61,760 | 709 | — | 62,469 | |||||||||||||||||||||||||||
Commercial – nonagency | — | 15,900 | 525 | — | 16,425 | |||||||||||||||||||||||||||
Total mortgage-backed securities | — | 155,475 | 1,234 | — | 156,709 | |||||||||||||||||||||||||||
U.S. Treasury and government agencies(a) | 21,091 | 298 | — | — | 21,389 | |||||||||||||||||||||||||||
Obligations of U.S. states and municipalities | — | 29,461 | — | — | 29,461 | |||||||||||||||||||||||||||
Certificates of deposit | — | 1,041 | — | — | 1,041 | |||||||||||||||||||||||||||
Non-U.S. government debt securities | 25,648 | 30,600 | — | — | 56,248 | |||||||||||||||||||||||||||
Corporate debt securities | — | 21,512 | — | — | 21,512 | |||||||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||||||
Collateralized loan obligations | — | 27,409 | 821 | — | 28,230 | |||||||||||||||||||||||||||
Other | — | 11,978 | 267 | — | 12,245 | |||||||||||||||||||||||||||
Equity securities | 3,142 | — | — | — | 3,142 | |||||||||||||||||||||||||||
Total available-for-sale securities | 49,881 | 277,774 | 2,322 | — | 329,977 | |||||||||||||||||||||||||||
Loans | — | 80 | 1,931 | — | 2,011 | |||||||||||||||||||||||||||
Mortgage servicing rights | — | — | 9,614 | — | 9,614 | |||||||||||||||||||||||||||
Other assets: | ||||||||||||||||||||||||||||||||
Private equity investments(f) | 606 | 429 | 6,474 | — | 7,509 | |||||||||||||||||||||||||||
All other | 4,213 | 289 | 3,176 | — | 7,678 | |||||||||||||||||||||||||||
Total other assets | 4,819 | 718 | 9,650 | — | 15,187 | |||||||||||||||||||||||||||
Total assets measured at fair value on a recurring basis | $ | 209,207 | $ | 1,596,518 | (g) | $ | 69,310 | (g) | $ | (1,114,708 | ) | $ | 760,327 | |||||||||||||||||||
Deposits | $ | — | $ | 4,369 | $ | 2,255 | $ | — | $ | 6,624 | ||||||||||||||||||||||
Federal funds purchased and securities loaned or sold under repurchase agreements | — | 5,426 | — | — | 5,426 | |||||||||||||||||||||||||||
Other borrowed funds | — | 11,232 | 2,074 | — | 13,306 | |||||||||||||||||||||||||||
Trading liabilities: | ||||||||||||||||||||||||||||||||
Debt and equity instruments(d) | 61,262 | 19,055 | 113 | — | 80,430 | |||||||||||||||||||||||||||
Derivative payables: | ||||||||||||||||||||||||||||||||
Interest rate | 321 | 822,014 | 3,019 | (812,071 | ) | 13,283 | ||||||||||||||||||||||||||
Credit | — | 78,731 | 3,671 | (80,121 | ) | 2,281 | ||||||||||||||||||||||||||
Foreign exchange | 443 | 156,838 | 2,844 | (144,178 | ) | 15,947 | ||||||||||||||||||||||||||
Equity | — | 46,552 | 8,102 | (39,935 | ) | 14,719 | ||||||||||||||||||||||||||
Commodity | 398 | 36,609 | 607 | (26,530 | ) | 11,084 | ||||||||||||||||||||||||||
Total derivative payables(e) | 1,162 | 1,140,744 | 18,243 | (1,102,835 | ) | 57,314 | ||||||||||||||||||||||||||
Total trading liabilities | 62,424 | 1,159,799 | 18,356 | (1,102,835 | ) | 137,744 | ||||||||||||||||||||||||||
Accounts payable and other liabilities | — | — | 25 | — | 25 | |||||||||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | — | 756 | 1,240 | — | 1,996 | |||||||||||||||||||||||||||
Long-term debt | — | 18,870 | 10,008 | — | 28,878 | |||||||||||||||||||||||||||
Total liabilities measured at fair value on a recurring basis | $ | 62,424 | $ | 1,200,452 | $ | 33,958 | $ | (1,102,835 | ) | $ | 193,999 | |||||||||||||||||||||
Fair value hierarchy | ||||||||||||||||||||||||||||||||
December 31, 2012 (in millions) | Level 1 | Level 2 | Level 3 | Netting adjustments | Total fair value | |||||||||||||||||||||||||||
Federal funds sold and securities purchased under resale agreements | $ | — | $ | 24,258 | $ | — | $ | — | $ | 24,258 | ||||||||||||||||||||||
Securities borrowed | — | 10,177 | — | — | 10,177 | |||||||||||||||||||||||||||
Trading assets: | ||||||||||||||||||||||||||||||||
Debt instruments: | ||||||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies(a) | — | 36,240 | 498 | — | 36,738 | |||||||||||||||||||||||||||
Residential – nonagency | — | 1,509 | 663 | — | 2,172 | |||||||||||||||||||||||||||
Commercial – nonagency | — | 1,565 | 1,207 | — | 2,772 | |||||||||||||||||||||||||||
Total mortgage-backed securities | — | 39,314 | 2,368 | — | 41,682 | |||||||||||||||||||||||||||
U.S. Treasury and government agencies(a)(h) | 15,170 | 7,255 | — | — | 22,425 | |||||||||||||||||||||||||||
Obligations of U.S. states and municipalities | — | 16,726 | 1,436 | — | 18,162 | |||||||||||||||||||||||||||
Certificates of deposit, bankers’ acceptances and commercial paper | — | 4,759 | — | — | 4,759 | |||||||||||||||||||||||||||
Non-U.S. government debt securities(h) | 26,095 | 44,028 | 67 | — | 70,190 | |||||||||||||||||||||||||||
Corporate debt securities(h) | — | 31,882 | 5,308 | — | 37,190 | |||||||||||||||||||||||||||
Loans(b) | — | 30,754 | 10,787 | — | 41,541 | |||||||||||||||||||||||||||
Asset-backed securities | — | 4,182 | 3,696 | — | 7,878 | |||||||||||||||||||||||||||
Total debt instruments | 41,265 | 178,900 | 23,662 | — | 243,827 | |||||||||||||||||||||||||||
Equity securities | 106,898 | 2,687 | 1,114 | — | 110,699 | |||||||||||||||||||||||||||
Physical commodities(c) | 10,107 | 6,066 | — | — | 16,173 | |||||||||||||||||||||||||||
Other | — | 3,483 | 863 | — | 4,346 | |||||||||||||||||||||||||||
Total debt and equity instruments(d) | 158,270 | 191,136 | 25,639 | — | 375,045 | |||||||||||||||||||||||||||
Derivative receivables: | ||||||||||||||||||||||||||||||||
Interest rate(h) | 476 | 1,295,239 | 6,617 | (1,263,127 | ) | 39,205 | ||||||||||||||||||||||||||
Credit | — | 93,821 | 6,489 | (98,575 | ) | 1,735 | ||||||||||||||||||||||||||
Foreign exchange(h) | 450 | 143,752 | 3,051 | (133,111 | ) | 14,142 | ||||||||||||||||||||||||||
Equity(h) | — | 37,758 | 4,921 | (33,413 | ) | 9,266 | ||||||||||||||||||||||||||
Commodity(h) | 316 | 42,300 | 1,155 | (33,136 | ) | 10,635 | ||||||||||||||||||||||||||
Total derivative receivables(e) | 1,242 | 1,612,870 | 22,233 | (1,561,362 | ) | 74,983 | ||||||||||||||||||||||||||
Total trading assets | 159,512 | 1,804,006 | 47,872 | (1,561,362 | ) | 450,028 | ||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies(a) | — | 98,388 | — | — | 98,388 | |||||||||||||||||||||||||||
Residential – nonagency | — | 74,189 | 450 | — | 74,639 | |||||||||||||||||||||||||||
Commercial – nonagency | — | 12,948 | 255 | — | 13,203 | |||||||||||||||||||||||||||
Total mortgage-backed securities | — | 185,525 | 705 | — | 186,230 | |||||||||||||||||||||||||||
U.S. Treasury and government agencies(a)(h) | 11,089 | 1,041 | — | — | 12,130 | |||||||||||||||||||||||||||
Obligations of U.S. states and municipalities | 35 | 21,489 | 187 | — | 21,711 | |||||||||||||||||||||||||||
Certificates of deposit | — | 2,783 | — | — | 2,783 | |||||||||||||||||||||||||||
Non-U.S. government debt securities(h) | 29,556 | 36,488 | — | — | 66,044 | |||||||||||||||||||||||||||
Corporate debt securities | — | 38,609 | — | — | 38,609 | |||||||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||||||
Collateralized loan obligations | — | — | 27,896 | — | 27,896 | |||||||||||||||||||||||||||
Other | — | 12,843 | 128 | — | 12,971 | |||||||||||||||||||||||||||
Equity securities | 2,733 | 38 | — | — | 2,771 | |||||||||||||||||||||||||||
Total available-for-sale securities | 43,413 | 298,816 | 28,916 | — | 371,145 | |||||||||||||||||||||||||||
Loans | — | 273 | 2,282 | — | 2,555 | |||||||||||||||||||||||||||
Mortgage servicing rights | — | — | 7,614 | — | 7,614 | |||||||||||||||||||||||||||
Other assets: | ||||||||||||||||||||||||||||||||
Private equity investments(f) | 578 | — | 7,181 | — | 7,759 | |||||||||||||||||||||||||||
All other | 4,188 | 253 | 4,258 | — | 8,699 | |||||||||||||||||||||||||||
Total other assets | 4,766 | 253 | 11,439 | — | 16,458 | |||||||||||||||||||||||||||
Total assets measured at fair value on a recurring basis | $ | 207,691 | $ | 2,137,783 | (g) | $ | 98,123 | (g) | $ | (1,561,362 | ) | $ | 882,235 | |||||||||||||||||||
Deposits | $ | — | $ | 3,750 | $ | 1,983 | $ | — | $ | 5,733 | ||||||||||||||||||||||
Federal funds purchased and securities loaned or sold under repurchase agreements | — | 4,388 | — | — | 4,388 | |||||||||||||||||||||||||||
Other borrowed funds | — | 9,972 | 1,619 | — | 11,591 | |||||||||||||||||||||||||||
Trading liabilities: | ||||||||||||||||||||||||||||||||
Debt and equity instruments(d)(h) | 47,469 | 13,588 | 205 | — | 61,262 | |||||||||||||||||||||||||||
Derivative payables: | ||||||||||||||||||||||||||||||||
Interest rate(h) | 490 | 1,256,989 | 3,295 | (1,235,868 | ) | 24,906 | ||||||||||||||||||||||||||
Credit | — | 95,411 | 4,616 | (97,523 | ) | 2,504 | ||||||||||||||||||||||||||
Foreign exchange(h) | 428 | 155,323 | 4,801 | (141,951 | ) | 18,601 | ||||||||||||||||||||||||||
Equity(h) | — | 37,808 | 6,727 | (32,716 | ) | 11,819 | ||||||||||||||||||||||||||
Commodity(h) | 176 | 46,548 | 901 | (34,799 | ) | 12,826 | ||||||||||||||||||||||||||
Total derivative payables(e) | 1,094 | 1,592,079 | 20,340 | (1,542,857 | ) | 70,656 | ||||||||||||||||||||||||||
Total trading liabilities | 48,563 | 1,605,667 | 20,545 | (1,542,857 | ) | 131,918 | ||||||||||||||||||||||||||
Accounts payable and other liabilities | — | — | 36 | — | 36 | |||||||||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | — | 245 | 925 | — | 1,170 | |||||||||||||||||||||||||||
Long-term debt | — | 22,312 | 8,476 | — | 30,788 | |||||||||||||||||||||||||||
Total liabilities measured at fair value on a recurring basis | $ | 48,563 | $ | 1,646,334 | $ | 33,584 | $ | (1,542,857 | ) | $ | 185,624 | |||||||||||||||||||||
(a) | At December 31, 2013 and 2012, included total U.S. government-sponsored enterprise obligations of $91.5 billion and $119.4 billion, respectively, which were predominantly mortgage-related. | |||||||||||||||||||||||||||||||
(b) | At December 31, 2013 and 2012, included within trading loans were $14.8 billion and $26.4 billion, respectively, of residential first-lien mortgages, and $2.1 billion and $2.2 billion, respectively, of commercial first-lien mortgages. Residential mortgage loans include conforming mortgage loans originated with the intent to sell to U.S. government agencies of $6.0 billion and $17.4 billion, respectively, and reverse mortgages of $3.6 billion and $4.0 billion, respectively. | |||||||||||||||||||||||||||||||
(c) | Physical commodities inventories are generally accounted for at the lower of cost or market. “Market” is a term defined in U.S. GAAP as not exceeding fair value less costs to sell (“transaction costs”). Transaction costs for the Firm’s physical commodities inventories are either not applicable or immaterial to the value of the inventory. Therefore, market approximates fair value for the Firm’s physical commodities inventories. When fair value hedging has been applied (or when market is below cost), the carrying value of physical commodities approximates fair value, because under fair value hedge accounting, the cost basis is adjusted for changes in fair value. For a further discussion of the Firm’s hedge accounting relationships, see Note 6 on pages 220–233 of this Annual Report. To provide consistent fair value disclosure information, all physical commodities inventories have been included in each period presented. | |||||||||||||||||||||||||||||||
(d) | Balances reflect the reduction of securities owned (long positions) by the amount of securities sold but not yet purchased (short positions) when the long and short positions have identical Committee on Uniform Security Identification Procedures numbers (“CUSIPs”). | |||||||||||||||||||||||||||||||
(e) | As permitted under U.S. GAAP, the Firm has elected to net derivative receivables and derivative payables and the related cash collateral received and paid when a legally enforceable master netting agreement exists. For purposes of the tables above, the Firm does not reduce derivative receivables and derivative payables balances for this netting adjustment, either within or across the levels of the fair value hierarchy, as such netting is not relevant to a presentation based on the transparency of inputs to the valuation of an asset or liability. Therefore, the balances reported in the fair value hierarchy table are gross of any counterparty netting adjustments. However, if the Firm were to net such balances within level 3, the reduction in the level 3 derivative receivables and payables balances would be $7.6 billion and $7.4 billion at December 31, 2013 and 2012, respectively; this is exclusive of the netting benefit associated with cash collateral, which would further reduce the level 3 balances. | |||||||||||||||||||||||||||||||
(f) | Private equity instruments represent investments within the Corporate/Private Equity line of business. The cost basis of the private equity investment portfolio totaled $8.0 billion and $8.4 billion at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||
(g) | Includes investments in hedge funds, private equity funds, real estate and other funds that do not have readily determinable fair values. The Firm uses net asset value per share when measuring the fair value of these investments. At December 31, 2013 and 2012, the fair values of these investments were $3.2 billion and $4.9 billion, respectively, of which $899 million and $1.1 billion, respectively were classified in level 2, and $2.3 billion and $3.8 billion, respectively, in level 3. | |||||||||||||||||||||||||||||||
(h) | The prior period amounts have been revised. This revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | |||||||||||||||||||||||||||||||
Transfers between levels for instruments carried at fair value on a recurring basis | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2013 and 2011, there were no significant transfers between levels 1 and 2. | ||||||||||||||||||||||||||||||||
During the year ended December 31, 2013, transfers from level 3 to level 2 included certain highly rated CLOs, including $27.4 billion held in the Firm’s available-for-sale (“AFS”) securities portfolio and $1.4 billion held in the trading portfolio, based on increased liquidity and price transparency; and $1.3 billion of long-term debt, largely driven by an increase in observability of certain equity structured notes. Transfers from level 2 to level 3 included $1.4 billion of corporate debt securities in the trading portfolio largely driven by a decrease in observability for certain credit instruments. | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2012, $113.9 billion of settled U.S. government agency mortgage-backed securities were transferred from level 1 to level 2. While the U.S. government agency mortgage-backed securities market remained highly liquid and transparent, the transfer reflected greater market price differentiation between settled securities based on certain underlying loan specific factors. There were no significant transfers from level 2 to level 1 for the year ended December 31, 2012. | ||||||||||||||||||||||||||||||||
For the years ended December 31, 2012 and 2011, there were no significant transfers from level 2 into level 3. For the year ended December 31, 2012, transfers from level 3 into level 2 included $1.2 billion of derivative payables based on increased observability of certain structured equity derivatives; and $1.8 billion of long-term debt due to increased observability of certain equity structured notes. For the year ended December 31, 2011, transfers from level 3 into level 2 included $2.6 billion of long-term debt due to a decrease in valuation uncertainty of certain structured notes. | ||||||||||||||||||||||||||||||||
All transfers are assumed to occur at the beginning of the quarterly reporting period in which they occur. | ||||||||||||||||||||||||||||||||
During 2012 the liquidity for certain collateralized loan obligations increased and price transparency improved. Accordingly, the Firm incorporated a revised valuation model into its valuation process for CLOs to better calibrate to market data where available. The Firm began to verify fair value estimates from this model to independent sources during the fourth quarter of 2012. Although market liquidity and price transparency have improved, CLO market prices were not yet considered materially observable and therefore CLOs remained in level 3 as of December 31, 2012. The change in the valuation process did not have a significant impact on the fair value of the Firm’s CLO positions. As previously described, a portion of the CLOs that were subject to the revised valuation model (namely certain highly rated CLOs) were transferred from level 3 to level 2 of the fair value hierarchy during the year ended December 31, 2013. | ||||||||||||||||||||||||||||||||
Level 3 valuations | ||||||||||||||||||||||||||||||||
The Firm has established well-documented processes for determining fair value, including for instruments where fair value is estimated using significant unobservable inputs (level 3). For further information on the Firm’s valuation process and a detailed discussion of the determination of fair value for individual financial instruments, see pages 196–200 of this Note. | ||||||||||||||||||||||||||||||||
Estimating fair value requires the application of judgment. The type and level of judgment required is largely dependent on the amount of observable market information available to the Firm. For instruments valued using internally developed models that use significant unobservable inputs and are therefore classified within level 3 of the fair value hierarchy, judgments used to estimate fair value are more significant than those required when estimating the fair value of instruments classified within levels 1 and 2. | ||||||||||||||||||||||||||||||||
In arriving at an estimate of fair value for an instrument within level 3, management must first determine the appropriate model to use. Second, due to the lack of observability of significant inputs, management must assess all relevant empirical data in deriving valuation inputs — including, but not limited to, transaction details, yield curves, interest rates, prepayment speed, default rates, volatilities, correlations, equity or debt prices, valuations of comparable instruments, foreign exchange rates and credit curves. | ||||||||||||||||||||||||||||||||
Finally, management judgment must be applied to assess the appropriate level of valuation adjustments to reflect counterparty credit quality, the Firm’s creditworthiness, the impact of funding, constraints on liquidity and unobservable parameters, where relevant. The judgments made are typically affected by the type of product and its specific contractual terms, and the level of liquidity for the product or within the market as a whole. | ||||||||||||||||||||||||||||||||
The following table presents the Firm’s primary level 3 financial instruments, the valuation techniques used to measure the fair value of those financial instruments, the significant unobservable inputs, the range of values for those inputs and, for certain instruments, the weighted averages of such inputs. While the determination to classify an instrument within level 3 is based on the significance of the unobservable inputs to the overall fair value measurement, level 3 financial instruments typically include observable components (that is, components that are actively quoted and can be validated to external sources) in addition to the unobservable components. The level 1 and/or level 2 inputs are not included in the table. In addition, the Firm manages the risk of the observable components of level 3 financial instruments using securities and derivative positions that are classified within levels 1 or 2 of the fair value hierarchy. | ||||||||||||||||||||||||||||||||
The range of values presented in the table is representative of the highest and lowest level input used to value the significant groups of instruments within a product/instrument classification. The input range does not reflect the level of input uncertainty; rather, it is driven by the different underlying characteristics of the various instruments within the classification. For example, two option contracts may have similar levels of market risk exposure and valuation uncertainty, but may have significantly different implied volatility levels because the option contracts have different underlyings, tenors, or strike prices. | ||||||||||||||||||||||||||||||||
Where provided, the weighted averages of the input values presented in the table are calculated based on the fair value of the instruments that the input is being used to value. In the Firm’s view, the input range and the weighted average value do not reflect the degree of input uncertainty or an assessment of the reasonableness of the Firm’s estimates and assumptions. Rather, they reflect the characteristics of the various instruments held by the Firm and the relative distribution of instruments within the range of characteristics. The input range and weighted average values will therefore vary from period-to-period and parameter to parameter based on the characteristics of the instruments held by the Firm at each balance sheet date. | ||||||||||||||||||||||||||||||||
For the Firm’s derivatives and structured notes positions classified within level 3, the equity and interest rate correlation inputs used in estimating fair value were concentrated at the upper end of the range presented, while the credit correlation inputs were distributed across the range presented and the foreign exchange correlation inputs were concentrated at the lower end of the range presented. In addition, the interest rate volatility inputs used in estimating fair value were concentrated at the upper end of the range presented, while equity volatilities were concentrated at the lower end of the range. The forward commodity prices used in estimating the fair value of commodity derivatives were concentrated within the lower end of the range presented. | ||||||||||||||||||||||||||||||||
Level 3 inputs(a) | ||||||||||||||||||||||||||||||||
December 31, 2013 (in millions, except for ratios and basis points) | ||||||||||||||||||||||||||||||||
Product/Instrument | Fair value | Principal valuation technique | Unobservable inputs | Range of input values | Weighted average | |||||||||||||||||||||||||||
Residential mortgage-backed securities and loans | $ | 11,089 | Discounted cash flows | Yield | 3 | % | - | 18% | 7% | |||||||||||||||||||||||
Prepayment speed | 0 | % | - | 15% | 7% | |||||||||||||||||||||||||||
Conditional default rate | 0 | % | - | 100% | 26% | |||||||||||||||||||||||||||
Loss severity | 0 | % | - | 100% | 21% | |||||||||||||||||||||||||||
Commercial mortgage-backed securities and loans(b) | 1,204 | Discounted cash flows | Yield | 6 | % | - | 29% | 11% | ||||||||||||||||||||||||
Conditional default rate | 0 | % | - | 100% | 10% | |||||||||||||||||||||||||||
Loss severity | 0 | % | - | 40% | 33% | |||||||||||||||||||||||||||
Corporate debt securities, obligations of U.S. states and municipalities, and other(c) | 15,209 | Discounted cash flows | Credit spread | 88 bps | - | 255 bps | 154 bps | |||||||||||||||||||||||||
Yield | 1 | % | - | 40% | 10% | |||||||||||||||||||||||||||
5,843 | Market comparables | Price | 3 | - | 122 | 95 | ||||||||||||||||||||||||||
Net interest rate derivatives | 2,379 | Option pricing | Interest rate correlation | (75 | )% | - | 95% | |||||||||||||||||||||||||
Interest rate spread volatility | 0 | % | - | 60% | ||||||||||||||||||||||||||||
Net credit derivatives(b)(c) | 95 | Discounted cash flows | Credit correlation | 34 | % | - | 82% | |||||||||||||||||||||||||
Net foreign exchange derivatives | (1,200 | ) | Option pricing | Foreign exchange correlation | 45 | % | - | 75% | ||||||||||||||||||||||||
Net equity derivatives | (1,063 | ) | Option pricing | Equity volatility | 20 | % | - | 55% | ||||||||||||||||||||||||
Net commodity derivatives | 115 | Discounted cash flows | Forward commodity price | $20 | - | $160 per megawatt hour | ||||||||||||||||||||||||||
Collateralized loan obligations | 821 | Discounted cash flows | Credit spread | 214 bps | - | 575 bps | 234 bps | |||||||||||||||||||||||||
Prepayment speed | 20% | 20% | ||||||||||||||||||||||||||||||
Conditional default rate | 2% | 2% | ||||||||||||||||||||||||||||||
Loss severity | 40% | 40% | ||||||||||||||||||||||||||||||
487 | Market comparables | Price | 0 | - | 114 | 88 | ||||||||||||||||||||||||||
Mortgage servicing rights (“MSRs”) | 9,614 | Discounted cash flows | Refer to Note 17 on pages 299–304 of this Annual Report. | |||||||||||||||||||||||||||||
Private equity direct investments | 4,872 | Market comparables | EBITDA multiple | 4.0x | - | 14.7x | 8.1x | |||||||||||||||||||||||||
Liquidity adjustment | 0 | % | - | 37% | 11% | |||||||||||||||||||||||||||
Private equity fund investments(d) | 1,602 | Net asset value | Net asset value(f) | |||||||||||||||||||||||||||||
Long-term debt, other borrowed funds, and deposits(e) | 13,282 | Option pricing | Interest rate correlation | (75 | )% | - | 95% | |||||||||||||||||||||||||
Foreign exchange correlation | 0 | % | - | 75% | ||||||||||||||||||||||||||||
Equity correlation | (50 | )% | - | 85% | ||||||||||||||||||||||||||||
1,055 | Discounted cash flows | Credit correlation | 34 | % | - | 82% | ||||||||||||||||||||||||||
(a) | The categories presented in the table have been aggregated based upon the product type, which may differ from their classification on the Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||
(b) | The unobservable inputs and associated input ranges for approximately $735 million of credit derivative receivables and $644 million of credit derivative payables with underlying mortgage risk have been included in the inputs and ranges provided for commercial mortgage-backed securities and loans. | |||||||||||||||||||||||||||||||
(c) | The unobservable inputs and associated input ranges for approximately $1.0 billion of credit derivative receivables and $890 million of credit derivative payables with underlying asset-backed securities risk have been included in the inputs and ranges provided for corporate debt securities, obligations of U.S. states and municipalities and other. | |||||||||||||||||||||||||||||||
(d) | As of December 31, 2013, $757 million of private equity fund exposure was carried at a discount to net asset value per share. | |||||||||||||||||||||||||||||||
(e) | Long-term debt, other borrowed funds and deposits include structured notes issued by the Firm that are predominantly financial instruments containing embedded derivatives. The estimation of the fair value of structured notes is predominantly based on the derivative features embedded within the instruments. The significant unobservable inputs are broadly consistent with those presented for derivative receivables. | |||||||||||||||||||||||||||||||
(f) | The range has not been disclosed due to the wide range of possible values given the diverse nature of the underlying investments. | |||||||||||||||||||||||||||||||
Changes in and ranges of unobservable inputs | ||||||||||||||||||||||||||||||||
The following discussion provides a description of the impact on a fair value measurement of a change in each unobservable input in isolation, and the interrelationship between unobservable inputs, where relevant and significant. The impact of changes in inputs may not be independent as a change in one unobservable input may give rise to a change in another unobservable input, and where relationships exist between two unobservable inputs, those relationships are discussed below. Relationships may also exist between observable and unobservable inputs (for example, as observable interest rates rise, unobservable prepayment rates decline). Such relationships have not been included in the discussion below. In addition, for each of the individual relationships described below, the inverse relationship would also generally apply. | ||||||||||||||||||||||||||||||||
In addition, the following discussion provides a description of attributes of the underlying instruments and external market factors that affect the range of inputs used in the valuation of the Firm’s positions. | ||||||||||||||||||||||||||||||||
Yield – The yield of an asset is the interest rate used to discount future cash flows in a discounted cash flow calculation. An increase in the yield, in isolation, would result in a decrease in a fair value measurement. | ||||||||||||||||||||||||||||||||
Credit spread – The credit spread is the amount of additional annualized return over the market interest rate that a market participant would demand for taking exposure to the credit risk of an instrument. The credit spread for an instrument forms part of the discount rate used in a discounted cash flow calculation. Generally, an increase in the credit spread would result in a decrease in a fair value measurement. | ||||||||||||||||||||||||||||||||
The yield and the credit spread of a particular mortgage-backed security primarily reflect the risk inherent in the instrument. The yield is also impacted by the absolute level of the coupon paid by the instrument (which may not correspond directly to the level of inherent risk). Therefore, the range of yield and credit spreads reflects the range of risk inherent in various instruments owned by the Firm. The risk inherent in mortgage-backed securities is driven by the subordination of the security being valued and the characteristics of the underlying mortgages within the collateralized pool, including borrower FICO scores, loan-to-value ratios for residential mortgages and the nature of the property and/or any tenants for commercial mortgages. For corporate debt securities, obligations of U.S. states and municipalities and other similar instruments, credit spreads reflect the credit quality of the obligor and the tenor of the obligation. | ||||||||||||||||||||||||||||||||
Prepayment speed – The prepayment speed is a measure of the voluntary unscheduled principal repayments of a prepayable obligation in a collateralized pool. Prepayment speeds generally decline as borrower delinquencies rise. An increase in prepayment speeds, in isolation, would result in a decrease in a fair value measurement of assets valued at a premium to par and an increase in a fair value measurement of assets valued at a discount to par. | ||||||||||||||||||||||||||||||||
Prepayment speeds may vary from collateral pool to collateral pool, and are driven by the type and location of the underlying borrower, the remaining tenor of the obligation as well as the level and type (e.g., fixed or floating) of interest rate being paid by the borrower. Typically collateral pools with higher borrower credit quality have a higher prepayment rate than those with lower borrower credit quality, all other factors being equal. | ||||||||||||||||||||||||||||||||
Conditional default rate – The conditional default rate is a measure of the reduction in the outstanding collateral balance underlying a collateralized obligation as a result of defaults. While there is typically no direct relationship between conditional default rates and prepayment speeds, collateralized obligations for which the underlying collateral have high prepayment speeds will tend to have lower conditional default rates. An increase in conditional default rates would generally be accompanied by an increase in loss severity and an increase in credit spreads. An increase in the conditional default rate, in isolation, would result in a decrease in a fair value measurement. Conditional default rates reflect the quality of the collateral underlying a securitization and the structure of the securitization itself. Based on the types of securities owned in the Firm’s market-making portfolios, conditional default rates are most typically at the lower end of the range presented. | ||||||||||||||||||||||||||||||||
Loss severity – The loss severity (the inverse concept is the recovery rate) is the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding loan balance. An increase in loss severity is generally accompanied by an increase in conditional default rates. An increase in the loss severity, in isolation, would result in a decrease in a fair value measurement. | ||||||||||||||||||||||||||||||||
The loss severity applied in valuing a mortgage-backed security investment depends on a host of factors relating to the underlying mortgages. This includes the loan-to-value ratio, the nature of the lender’s charge over the property and various other instrument-specific factors. | ||||||||||||||||||||||||||||||||
Correlation – Correlation is a measure of the relationship between the movements of two variables (e.g., how the change in one variable influences the change in the other). Correlation is a pricing input for a derivative product where the payoff is driven by one or more underlying risks. Correlation inputs are related to the type of derivative (e.g., interest rate, credit, equity and foreign exchange) due to the nature of the underlying risks. When parameters are positively correlated, an increase in one parameter will result in an increase in the other parameter. When parameters are negatively correlated, an increase in one parameter will result in a decrease in the other parameter. An increase in correlation can result in an increase or a decrease in a fair value measurement. Given a short correlation position, an increase in correlation, in isolation, would generally result in a decrease in a fair value measurement. Correlation inputs between risks within the same asset class are generally narrower than those between underlying risks across asset classes. In addition, the ranges of credit correlation inputs tend to be narrower than those affecting other asset classes. | ||||||||||||||||||||||||||||||||
The level of correlation used in the valuation of derivatives with multiple underlying risks depends on a number of factors including the nature of those risks. For example, the correlation between two credit risk exposures would be different than that between two interest rate risk exposures. Similarly, the tenor of the transaction may also impact the correlation input as the relationship between the underlying risks may be different over different time periods. Furthermore, correlation levels are very much dependent on market conditions and could have a relatively wide range of levels within or across asset classes over time, particularly in volatile market conditions. | ||||||||||||||||||||||||||||||||
Volatility – Volatility is a measure of the variability in possible returns for an instrument, parameter or market index given how much the particular instrument, parameter or index changes in value over time. Volatility is a pricing input for options, including equity options, commodity options, and interest rate options. Generally, the higher the volatility of the underlying, the riskier the instrument. Given a long position in an option, an increase in volatility, in isolation, would generally result in an increase in a fair value measurement. | ||||||||||||||||||||||||||||||||
The level of volatility used in the valuation of a particular option-based derivative depends on a number of factors, including the nature of the risk underlying the option (e.g., the volatility of a particular equity security may be significantly different from that of a particular commodity index), the tenor of the derivative as well as the strike price of the option. | ||||||||||||||||||||||||||||||||
EBITDA multiple – EBITDA multiples refer to the input (often derived from the value of a comparable company) that is multiplied by the historic and/or expected earnings before interest, taxes, depreciation and amortization (“EBITDA”) of a company in order to estimate the company’s value. An increase in the EBITDA multiple, in isolation, net of adjustments, would result in an increase in a fair value measurement. | ||||||||||||||||||||||||||||||||
Net asset value – Net asset value is the total value of a fund’s assets less liabilities. An increase in net asset value would result in an increase in a fair value measurement. | ||||||||||||||||||||||||||||||||
Changes in level 3 recurring fair value measurements | ||||||||||||||||||||||||||||||||
The following tables include a rollforward of the Consolidated Balance Sheet amounts (including changes in fair value) for financial instruments classified by the Firm within level 3 of the fair value hierarchy for the years ended December 31, 2013, 2012 and 2011. When a determination is made to classify a financial instrument within level 3, the determination is based on the significance of the unobservable parameters to the overall fair value measurement. However, level 3 financial instruments typically include, in addition to the unobservable or level 3 components, observable components (that is, components that are actively quoted and can be validated to external sources); accordingly, the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the valuation methodology. Also, the Firm risk-manages the observable components of level 3 financial instruments using securities and derivative positions that are classified within level 1 or 2 of the fair value hierarchy; as these level 1 and level 2 risk management instruments are not included below, the gains and losses in the following tables do not reflect the effect of the Firm’s risk management activities related to such level 3 instruments. | ||||||||||||||||||||||||||||||||
Fair value measurements using significant unobservable inputs | ||||||||||||||||||||||||||||||||
Year ended | Fair value at January 1, 2013 | Total realized/unrealized gains/(losses) | Transfers into and/or out of level 3(h) | Fair value at Dec. 31, 2013 | Change in unrealized gains/(losses) related to financial instruments held at Dec. 31, 2013 | |||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||
(in millions) | Purchases(g) | Sales | Settlements | |||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Trading assets: | ||||||||||||||||||||||||||||||||
Debt instruments: | ||||||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | $ | 498 | $ | 169 | $ | 819 | $ | (381 | ) | $ | (100 | ) | $ | — | $ | 1,005 | $ | 200 | ||||||||||||||
Residential – nonagency | 663 | 407 | 780 | (1,028 | ) | (91 | ) | (5 | ) | 726 | 205 | |||||||||||||||||||||
Commercial – nonagency | 1,207 | 114 | 841 | (1,522 | ) | (208 | ) | — | 432 | (4 | ) | |||||||||||||||||||||
Total mortgage-backed securities | 2,368 | 690 | 2,440 | (2,931 | ) | (399 | ) | (5 | ) | 2,163 | 401 | |||||||||||||||||||||
Obligations of U.S. states and municipalities | 1,436 | 71 | 472 | (251 | ) | (346 | ) | — | 1,382 | 18 | ||||||||||||||||||||||
Non-U.S. government debt securities | 67 | 4 | 1,449 | (1,479 | ) | (8 | ) | 110 | 143 | (1 | ) | |||||||||||||||||||||
Corporate debt securities | 5,308 | 103 | 7,602 | (5,975 | ) | (1,882 | ) | 764 | 5,920 | 466 | ||||||||||||||||||||||
Loans | 10,787 | 665 | 10,411 | (7,431 | ) | (685 | ) | (292 | ) | 13,455 | 315 | |||||||||||||||||||||
Asset-backed securities | 3,696 | 191 | 1,912 | (2,379 | ) | (292 | ) | (1,856 | ) | 1,272 | 105 | |||||||||||||||||||||
Total debt instruments | 23,662 | 1,724 | 24,286 | (20,446 | ) | (3,612 | ) | (1,279 | ) | 24,335 | 1,304 | |||||||||||||||||||||
Equity securities | 1,114 | (41 | ) | 328 | (266 | ) | (135 | ) | (115 | ) | 885 | 46 | ||||||||||||||||||||
Physical commodities | — | (4 | ) | — | (8 | ) | — | 16 | 4 | (4 | ) | |||||||||||||||||||||
Other | 863 | 558 | 659 | (95 | ) | (120 | ) | 135 | 2,000 | 1,074 | ||||||||||||||||||||||
Total trading assets – debt and equity instruments | 25,639 | 2,237 | (c) | 25,273 | (20,815 | ) | (3,867 | ) | (1,243 | ) | 27,224 | 2,420 | (c) | |||||||||||||||||||
Net derivative receivables:(a) | ||||||||||||||||||||||||||||||||
Interest rate | 3,322 | 1,358 | 344 | (220 | ) | (2,391 | ) | (34 | ) | 2,379 | 107 | |||||||||||||||||||||
Credit | 1,873 | (1,697 | ) | 115 | (12 | ) | (357 | ) | 173 | 95 | (1,449 | ) | ||||||||||||||||||||
Foreign exchange | (1,750 | ) | (101 | ) | 3 | (4 | ) | 683 | (31 | ) | (1,200 | ) | (110 | ) | ||||||||||||||||||
Equity | (1,806 | ) | 2,587 | 2,918 | (3,783 | ) | (1,353 | ) | 374 | (1,063 | ) | 872 | ||||||||||||||||||||
Commodity | 254 | 816 | 105 | (3 | ) | (1,107 | ) | 50 | 115 | 410 | ||||||||||||||||||||||
Total net derivative receivables | 1,893 | 2,963 | (c) | 3,485 | (4,022 | ) | (4,525 | ) | 532 | 326 | (170 | ) | (c) | |||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||||||
Asset-backed securities | 28,024 | 4 | 579 | (57 | ) | (57 | ) | (27,405 | ) | 1,088 | 4 | |||||||||||||||||||||
Other | 892 | 26 | 508 | (216 | ) | (6 | ) | 30 | 1,234 | 25 | ||||||||||||||||||||||
Total available-for-sale securities | 28,916 | 30 | (d) | 1,087 | (273 | ) | (63 | ) | (27,375 | ) | 2,322 | 29 | (d) | |||||||||||||||||||
Loans | 2,282 | 81 | (c) | 1,065 | (191 | ) | (1,306 | ) | — | 1,931 | (21 | ) | (c) | |||||||||||||||||||
Mortgage servicing rights | 7,614 | 1,612 | (e) | 2,215 | (725 | ) | (1,102 | ) | — | 9,614 | 1,612 | (e) | ||||||||||||||||||||
Other assets: | ||||||||||||||||||||||||||||||||
Private equity investments | 7,181 | 645 | (c) | 673 | (1,137 | ) | (687 | ) | (201 | ) | 6,474 | 262 | (c) | |||||||||||||||||||
All other | 4,258 | 98 | (f) | 272 | (730 | ) | (722 | ) | — | 3,176 | 53 | (f) | ||||||||||||||||||||
Fair value measurements using significant unobservable inputs | ||||||||||||||||||||||||||||||||
Year ended | Fair value at January 1, 2013 | Total realized/unrealized (gains)/losses | Transfers into and/or out of level 3(h) | Fair value at Dec. 31, 2013 | Change in unrealized (gains)/losses related to financial instruments held at Dec. 31, 2013 | |||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||
(in millions) | Purchases(g) | Sales | Issuances | Settlements | ||||||||||||||||||||||||||||
Liabilities:(b) | ||||||||||||||||||||||||||||||||
Deposits | $ | 1,983 | $ | (82 | ) | (c) | $ | — | $ | — | $ | 1,248 | $ | (222 | ) | $ | (672 | ) | $ | 2,255 | $ | (88 | ) | (c) | ||||||||
Other borrowed funds | 1,619 | (177 | ) | (c) | — | — | 7,108 | (6,845 | ) | 369 | 2,074 | 291 | (c) | |||||||||||||||||||
Trading liabilities – debt and equity instruments | 205 | (83 | ) | (c) | (2,418 | ) | 2,594 | — | (54 | ) | (131 | ) | 113 | (100 | ) | (c) | ||||||||||||||||
Accounts payable and other liabilities | 36 | (2 | ) | (f) | — | — | — | (9 | ) | — | 25 | (2 | ) | (f) | ||||||||||||||||||
Beneficial interests issued by consolidated VIEs | 925 | 174 | (c) | — | — | 353 | (212 | ) | — | 1,240 | 167 | (c) | ||||||||||||||||||||
Long-term debt | 8,476 | (435 | ) | (c) | — | — | 6,830 | (4,362 | ) | (501 | ) | 10,008 | (85 | ) | (c) | |||||||||||||||||
Fair value measurements using significant unobservable inputs | ||||||||||||||||||||||||||||||||
Year ended | Fair value at January 1, 2012 | Total realized/unrealized gains/(losses) | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized gains/(losses) related to financial instruments held at Dec. 31, 2012 | |||||||||||||||||||||||||||
31-Dec-12 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||
(in millions) | Purchases(g) | Sales | Settlements | |||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Trading assets: | ||||||||||||||||||||||||||||||||
Debt instruments: | ||||||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | $ | 86 | $ | (44 | ) | $ | 575 | $ | (103 | ) | $ | (16 | ) | $ | — | $ | 498 | $ | (21 | ) | ||||||||||||
Residential – nonagency | 796 | 151 | 417 | (533 | ) | (145 | ) | (23 | ) | 663 | 74 | |||||||||||||||||||||
Commercial – nonagency | 1,758 | (159 | ) | 287 | (475 | ) | (104 | ) | (100 | ) | 1,207 | (145 | ) | |||||||||||||||||||
Total mortgage-backed securities | 2,640 | (52 | ) | 1,279 | (1,111 | ) | (265 | ) | (123 | ) | 2,368 | (92 | ) | |||||||||||||||||||
Obligations of U.S. states and municipalities | 1,619 | 37 | 336 | (552 | ) | (4 | ) | — | 1,436 | (15 | ) | |||||||||||||||||||||
Non-U.S. government debt securities | 104 | (6 | ) | 661 | (668 | ) | (24 | ) | — | 67 | (5 | ) | ||||||||||||||||||||
Corporate debt securities | 6,373 | 187 | 8,391 | (6,186 | ) | (3,045 | ) | (412 | ) | 5,308 | 689 | |||||||||||||||||||||
Loans | 12,209 | 836 | 5,342 | (3,269 | ) | (3,801 | ) | (530 | ) | 10,787 | 411 | |||||||||||||||||||||
Asset-backed securities | 7,965 | 272 | 2,550 | (6,468 | ) | (614 | ) | (9 | ) | 3,696 | 184 | |||||||||||||||||||||
Total debt instruments | 30,910 | 1,274 | 18,559 | (18,254 | ) | (7,753 | ) | (1,074 | ) | 23,662 | 1,172 | |||||||||||||||||||||
Equity securities | 1,177 | (209 | ) | 460 | (379 | ) | (12 | ) | 77 | 1,114 | (112 | ) | ||||||||||||||||||||
Other | 880 | 186 | 68 | (108 | ) | (163 | ) | — | 863 | 180 | ||||||||||||||||||||||
Total trading assets – debt and equity instruments | 32,967 | 1,251 | (c) | 19,087 | (18,741 | ) | (7,928 | ) | (997 | ) | 25,639 | 1,240 | (c) | |||||||||||||||||||
Net derivative receivables:(a) | ||||||||||||||||||||||||||||||||
Interest rate | 3,561 | 6,930 | 406 | (194 | ) | (7,071 | ) | (310 | ) | 3,322 | 905 | |||||||||||||||||||||
Credit | 7,732 | (4,487 | ) | 124 | (84 | ) | (1,416 | ) | 4 | 1,873 | (3,271 | ) | ||||||||||||||||||||
Foreign exchange | (1,263 | ) | (800 | ) | 112 | (184 | ) | 436 | (51 | ) | (1,750 | ) | (957 | ) | ||||||||||||||||||
Equity | (3,105 | ) | 168 | 1,676 | (2,579 | ) | 899 | 1,135 | (1,806 | ) | 580 | |||||||||||||||||||||
Commodity | (687 | ) | (673 | ) | 74 | 64 | 1,278 | 198 | 254 | (160 | ) | |||||||||||||||||||||
Total net derivative receivables | 6,238 | 1,138 | (c) | 2,392 | (2,977 | ) | (5,874 | ) | 976 | 1,893 | (2,903 | ) | (c) | |||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||||||
Asset-backed securities | 24,958 | 135 | 9,280 | (3,361 | ) | (3,104 | ) | 116 | 28,024 | 118 | ||||||||||||||||||||||
Other | 528 | 55 | 667 | (113 | ) | (245 | ) | — | 892 | 59 | ||||||||||||||||||||||
Total available-for-sale securities | 25,486 | 190 | (d) | 9,947 | (3,474 | ) | (3,349 | ) | 116 | 28,916 | 177 | (d) | ||||||||||||||||||||
Loans | 1,647 | 695 | (c) | 1,536 | (22 | ) | (1,718 | ) | 144 | 2,282 | 12 | (c) | ||||||||||||||||||||
Mortgage servicing rights | 7,223 | (635 | ) | (e) | 2,833 | (579 | ) | (1,228 | ) | — | 7,614 | (635 | ) | (e) | ||||||||||||||||||
Other assets: | ||||||||||||||||||||||||||||||||
Private equity investments | 6,751 | 420 | (c) | 1,545 | (512 | ) | (977 | ) | (46 | ) | 7,181 | 333 | (c) | |||||||||||||||||||
All other | 4,374 | (195 | ) | (f) | 818 | (238 | ) | (501 | ) | — | 4,258 | (200 | ) | (f) | ||||||||||||||||||
Fair value measurements using significant unobservable inputs | ||||||||||||||||||||||||||||||||
Year ended | Fair value at January 1, 2012 | Total realized/unrealized (gains)/losses | Transfers into and/or out of level 3(h) | Fair value at Dec. 31, 2012 | Change in unrealized (gains)/losses related to financial instruments held at Dec. 31, 2012 | |||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||
(in millions) | Purchases(g) | Sales | Issuances | Settlements | ||||||||||||||||||||||||||||
Liabilities:(b) | ||||||||||||||||||||||||||||||||
Deposits | $ | 1,418 | $ | 212 | (c) | $ | — | $ | — | $ | 1,236 | $ | (380 | ) | $ | (503 | ) | $ | 1,983 | $ | 185 | (c) | ||||||||||
Other borrowed funds | 1,507 | 148 | (c) | — | — | 1,646 | (1,774 | ) | 92 | 1,619 | 72 | (c) | ||||||||||||||||||||
Trading liabilities – debt and equity instruments | 211 | (16 | ) | (c) | (2,875 | ) | 2,940 | — | (50 | ) | (5 | ) | 205 | (12 | ) | (c) | ||||||||||||||||
Accounts payable and other liabilities | 51 | 1 | (f) | — | — | — | (16 | ) | — | 36 | 1 | (f) | ||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | 791 | 181 | (c) | — | — | 221 | (268 | ) | — | 925 | 143 | (c) | ||||||||||||||||||||
Long-term debt | 10,310 | 328 | (c) | — | — | 3,662 | (4,511 | ) | (1,313 | ) | 8,476 | (101 | ) | (c) | ||||||||||||||||||
Fair value measurements using significant unobservable inputs | ||||||||||||||||||||||||||||||||
Year ended | Fair value at January 1, 2011 | Total realized/unrealized gains/(losses) | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized gains/(losses) related to financial instruments held at Dec. 31, 2011 | |||||||||||||||||||||||||||
31-Dec-11 | Dec. 31, 2011 | |||||||||||||||||||||||||||||||
(in millions) | Purchases(g) | Sales | Settlements | |||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Trading assets: | ||||||||||||||||||||||||||||||||
Debt instruments: | ||||||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | $ | 174 | $ | 24 | $ | 28 | $ | (39 | ) | $ | (43 | ) | $ | (58 | ) | $ | 86 | $ | (51 | ) | ||||||||||||
Residential – nonagency | 687 | 109 | 708 | (432 | ) | (221 | ) | (55 | ) | 796 | (9 | ) | ||||||||||||||||||||
Commercial – nonagency | 2,069 | 37 | 796 | (973 | ) | (171 | ) | — | 1,758 | 33 | ||||||||||||||||||||||
Total mortgage-backed securities | 2,930 | 170 | 1,532 | (1,444 | ) | (435 | ) | (113 | ) | 2,640 | (27 | ) | ||||||||||||||||||||
Obligations of U.S. states and municipalities | 2,257 | 9 | 807 | (1,465 | ) | (1 | ) | 12 | 1,619 | (11 | ) | |||||||||||||||||||||
Non-U.S. government debt securities | 202 | 35 | 552 | (531 | ) | (80 | ) | (74 | ) | 104 | 38 | |||||||||||||||||||||
Corporate debt securities | 4,946 | 32 | 8,080 | (5,939 | ) | (1,005 | ) | 259 | 6,373 | 26 | ||||||||||||||||||||||
Loans | 13,144 | 329 | 5,532 | (3,873 | ) | (2,691 | ) | (232 | ) | 12,209 | 142 | |||||||||||||||||||||
Asset-backed securities | 8,460 | 90 | 4,185 | (4,368 | ) | (424 | ) | 22 | 7,965 | (217 | ) | |||||||||||||||||||||
Total debt instruments | 31,939 | 665 | 20,688 | (17,620 | ) | (4,636 | ) | (126 | ) | 30,910 | (49 | ) | ||||||||||||||||||||
Equity securities | 1,685 | 267 | 180 | (541 | ) | (352 | ) | (62 | ) | 1,177 | 278 | |||||||||||||||||||||
Other | 930 | 48 | 36 | (39 | ) | (95 | ) | — | 880 | 79 | ||||||||||||||||||||||
Total trading assets – debt and equity instruments | 34,554 | 980 | (c) | 20,904 | (18,200 | ) | (5,083 | ) | (188 | ) | 32,967 | 308 | (c) | |||||||||||||||||||
Net derivative receivables:(a) | ||||||||||||||||||||||||||||||||
Interest rate | 2,836 | 5,205 | 511 | (219 | ) | (4,534 | ) | (238 | ) | 3,561 | 1,497 | |||||||||||||||||||||
Credit | 5,386 | 2,240 | 22 | (13 | ) | 116 | (19 | ) | 7,732 | 2,744 | ||||||||||||||||||||||
Foreign exchange | (614 | ) | (1,913 | ) | 191 | (20 | ) | 886 | 207 | (1,263 | ) | (1,878 | ) | |||||||||||||||||||
Equity | (2,446 | ) | (60 | ) | 715 | (1,449 | ) | 37 | 98 | (3,105 | ) | (132 | ) | |||||||||||||||||||
Commodity | (805 | ) | 596 | 328 | (350 | ) | (294 | ) | (162 | ) | (687 | ) | 208 | |||||||||||||||||||
Total net derivative receivables | 4,357 | 6,068 | (c) | 1,767 | (2,051 | ) | (3,789 | ) | (114 | ) | 6,238 | 2,439 | (c) | |||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||||||
Asset-backed securities | 13,775 | (95 | ) | 15,268 | (1,461 | ) | (2,529 | ) | — | 24,958 | (106 | ) | ||||||||||||||||||||
Other | 512 | — | 57 | (15 | ) | (26 | ) | — | 528 | 8 | ||||||||||||||||||||||
Total available-for-sale securities | 14,287 | (95 | ) | (d) | 15,325 | (1,476 | ) | (2,555 | ) | — | 25,486 | (98 | ) | (d) | ||||||||||||||||||
Loans | 1,466 | 504 | (c) | 326 | (9 | ) | (639 | ) | (1 | ) | 1,647 | 484 | (c) | |||||||||||||||||||
Mortgage servicing rights | 13,649 | (7,119 | ) | (e) | 2,603 | — | (1,910 | ) | — | 7,223 | (7,119 | ) | (e) | |||||||||||||||||||
Other assets: | ||||||||||||||||||||||||||||||||
Private equity investments | 7,862 | 943 | (c) | 1,452 | (2,746 | ) | (594 | ) | (166 | ) | 6,751 | (242 | ) | (c) | ||||||||||||||||||
All other | 4,179 | (54 | ) | (f) | 938 | (139 | ) | (521 | ) | (29 | ) | 4,374 | (83 | ) | (f) | |||||||||||||||||
Fair value measurements using significant unobservable inputs | ||||||||||||||||||||||||||||||||
Year ended | Fair value at January 1, 2011 | Total realized/unrealized (gains)/losses | Transfers into and/or out of level 3(h) | Fair value at Dec. 31, 2011 | Change in unrealized (gains)/losses related to financial instruments held at Dec. 31, 2011 | |||||||||||||||||||||||||||
31-Dec-11 | ||||||||||||||||||||||||||||||||
(in millions) | Purchases(g) | Sales | Issuances | Settlements | ||||||||||||||||||||||||||||
Liabilities:(b) | ||||||||||||||||||||||||||||||||
Deposits | $ | 773 | $ | 15 | (c) | $ | — | $ | — | $ | 433 | $ | (386 | ) | $ | 583 | $ | 1,418 | $ | 4 | (c) | |||||||||||
Other borrowed funds | 1,384 | (244 | ) | (c) | — | — | 1,597 | (834 | ) | (396 | ) | 1,507 | (85 | ) | (c) | |||||||||||||||||
Trading liabilities – debt and equity instruments | 54 | 17 | (c) | (533 | ) | 778 | — | (109 | ) | 4 | 211 | (7 | ) | (c) | ||||||||||||||||||
Accounts payable and other liabilities | 236 | (61 | ) | (f) | — | — | — | (124 | ) | — | 51 | 5 | (f) | |||||||||||||||||||
Beneficial interests issued by consolidated VIEs | 873 | 17 | (c) | — | — | 580 | (679 | ) | — | 791 | (15 | ) | (c) | |||||||||||||||||||
Long-term debt | 13,044 | 60 | (c) | — | — | 2,564 | (3,218 | ) | (2,140 | ) | 10,310 | 288 | (c) | |||||||||||||||||||
(a) | All level 3 derivatives are presented on a net basis, irrespective of underlying counterparty. | |||||||||||||||||||||||||||||||
(b) | Level 3 liabilities as a percentage of total Firm liabilities accounted for at fair value (including liabilities measured at fair value on a nonrecurring basis) were 18%, 18% and 22% at December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||||||||||||||
(c) | Predominantly reported in principal transactions revenue, except for changes in fair value for Consumer & Community Banking (“CCB”) mortgage loans, lending-related commitments originated with the intent to sell, and mortgage loan purchase commitments, which are reported in mortgage fees and related income. | |||||||||||||||||||||||||||||||
(d) | Realized gains/(losses) on AFS securities, as well as other-than-temporary impairment losses that are recorded in earnings, are reported in securities gains. Unrealized gains/(losses) are reported in OCI. Realized gains/(losses) and foreign exchange remeasurement adjustments recorded in income on AFS securities were $17 million, $145 million, and $(240) million for the years ended December 31, 2013, 2012 and 2011, respectively. Unrealized gains/(losses) recorded on AFS securities in OCI were $13 million, $45 million and $145 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||||||||||||||
(e) | Changes in fair value for CCB mortgage servicing rights are reported in mortgage fees and related income. | |||||||||||||||||||||||||||||||
(f) | Largely reported in other income. | |||||||||||||||||||||||||||||||
(g) | Loan originations are included in purchases. | |||||||||||||||||||||||||||||||
(h) | All transfers into and/or out of level 3 are assumed to occur at the beginning of the quarterly reporting period in which they occur. | |||||||||||||||||||||||||||||||
Level 3 analysis | ||||||||||||||||||||||||||||||||
Consolidated Balance Sheets changes | ||||||||||||||||||||||||||||||||
Level 3 assets (including assets measured at fair value on a nonrecurring basis) were 3.1% of total Firm assets at December 31, 2013. The following describes significant changes to level 3 assets since December 31, 2012, for those items measured at fair value on a recurring basis. For further information on changes impacting items measured at fair value on a nonrecurring basis, see Assets and liabilities measured at fair value on a nonrecurring basis on page 213 of this Annual Report. | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Level 3 assets were $69.3 billion at December 31, 2013, reflecting a decrease of $28.8 billion from December 31, 2012, due to the following: | ||||||||||||||||||||||||||||||||
• | $27.0 billion decrease in asset-backed AFS securities, predominantly driven by transfers of highly rated CLOs from level 3 to into level 2 during the year ended 2013, based on increased liquidity and price transparency; | |||||||||||||||||||||||||||||||
• | $3.7 billion decrease in gross derivative receivables, predominantly driven by a $2.7 billion decrease from the impact of tightening reference entity credit spreads and risk reductions of credit derivatives, $1.4 billion decrease in foreign exchange derivatives due to market movements, and $1.2 billion decrease in interest rate derivatives due to the increase in interest rates, partially offset by $2.1 billion increase in equity derivatives due to client-driven market-making activity; | |||||||||||||||||||||||||||||||
• | $1.1 billion decrease in all other assets, predominantly driven by sales of tax-oriented and hedge fund investments, and redemptions from investment funds. | |||||||||||||||||||||||||||||||
The decreases above are partially offset by: | ||||||||||||||||||||||||||||||||
• | $2.0 billion increase in MSRs. For further discussion of the change, refer to Note 17 on pages 299–304 of this Annual Report; | |||||||||||||||||||||||||||||||
• | $1.6 billion increase in trading assets – debt and equity instruments, largely driven by net purchases of trading loans, new client-driven financing transactions, and partially offset by transfers of highly rated CLOs from level 3 to into level 2 during the year ended 2013, based on increased liquidity and price transparency. | |||||||||||||||||||||||||||||||
Gains and Losses | ||||||||||||||||||||||||||||||||
The following describes significant components of total realized/unrealized gains/(losses) for instruments measured at fair value on a recurring basis for the years ended 2013, 2012 and 2011. For further information on these instruments, see Changes in level 3 recurring fair value measurements rollforward tables on pages 207–210 of this Annual Report. | ||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||
• | $3.0 billion of net gains on derivatives, largely driven by $2.6 billion of gains on equity derivatives, primarily related to client-driven market-making activity and a rise in equity markets; and $1.4 billion of gains, predominantly on interest rate lock and mortgage loan purchase commitments; partially offset by $1.7 billion of losses on credit derivatives from the impact of tightening reference entity credit spreads; | |||||||||||||||||||||||||||||||
• | $2.2 billion of net gains on trading assets - debt and equity instruments, largely driven by market making and credit spread tightening in nonagency mortgage-backed securities and trading loans, and the impact of market movements on client-driven financing transactions; | |||||||||||||||||||||||||||||||
• | $1.6 billion of net gains on MSRs. For further discussion of the change, refer to Note 17 on pages 299–304 of this Annual Report. | |||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||
• | $1.3 billion of net gains on trading assets - debt and equity instruments, largely driven by tightening of credit spreads and fluctuation in foreign exchange rates; | |||||||||||||||||||||||||||||||
• $1.1 billion of net gains on derivatives, driven by $6.9 billion of net gains predominantly on interest rate lock commitments due to increased volumes and lower interest rates, partially offset by $4.5 billion of net losses on credit derivatives largely as a result of tightening of reference entity credit spreads. | ||||||||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||||||||
• $7.1 billion of losses on MSRs. For further discussion of the change, refer to Note 17 on pages 299–304 of this Annual Report; | ||||||||||||||||||||||||||||||||
• $6.1 billion of net gains on derivatives, related to declining interest rates and widening of reference entity credit spreads, partially offset by losses due to fluctuation in foreign exchange rates. | ||||||||||||||||||||||||||||||||
Credit and funding adjustments | ||||||||||||||||||||||||||||||||
When determining the fair value of an instrument, it may be necessary to record adjustments to the Firm’s estimates of fair value in order to reflect the counterparty credit quality and the Firm’s own creditworthiness: | ||||||||||||||||||||||||||||||||
• | Credit valuation adjustments (“CVA”) are taken to reflect the credit quality of a counterparty in the valuation of derivatives. CVA adjustments are necessary when the market price (or parameter) is not indicative of the credit quality of the counterparty. As few classes of derivative contracts are listed on an exchange, derivative positions are predominantly valued using models that use as their basis observable market parameters. An adjustment therefore may be necessary to reflect the credit quality of each derivative counterparty to arrive at fair value. | |||||||||||||||||||||||||||||||
The Firm estimates derivatives CVA using a scenario analysis to estimate the expected credit exposure across all of the Firm’s positions with each counterparty, and then estimates losses as a result of a counterparty credit event. The key inputs to this methodology are (i) the expected positive exposure to each counterparty based on a simulation that assumes the current population of existing derivatives with each counterparty remains unchanged and considers contractual factors designed to mitigate the Firm’s credit exposure, such as collateral and legal rights of offset; (ii) the probability of a default event occurring for each counterparty, as derived from observed or estimated credit default swap (“CDS”) spreads; and (iii) estimated recovery rates implied by CDS, adjusted to consider the differences in recovery rates as a derivative creditor relative to those reflected in CDS spreads, which generally reflect senior unsecured creditor risk. | ||||||||||||||||||||||||||||||||
• | Debit valuation adjustments (“DVA”) are taken to reflect the credit quality of the Firm in the valuation of liabilities measured at fair value. The DVA calculation methodology is generally consistent with the CVA methodology described above and incorporates JPMorgan Chase’s credit spread as observed through the CDS market to estimate the probability of default and loss given default as a result of a systemic event affecting the Firm. Structured notes DVA is estimated using the current fair value of the structured note as the exposure amount, and is otherwise consistent with the derivative DVA methodology. | |||||||||||||||||||||||||||||||
During the fourth quarter of 2013 the Firm implemented the FVA framework to incorporate the impact of funding into its valuation estimates for OTC derivatives and structured notes. The Firm’s FVA framework leverages its existing CVA and DVA calculation methodologies, and the key inputs are: (i) the expected funding requirements arising from the Firm’s positions with each counterparty and collateral arrangements; (ii) for assets, the estimated market funding cost in the principal market; and (iii) for liabilities, the hypothetical market funding cost for a transfer to a market participant with similar credit standing as the Firm. | ||||||||||||||||||||||||||||||||
The following table provides the credit and funding adjustments, excluding the effect of any hedging activity, reflected within the Consolidated Balance Sheets as of the dates indicated. | ||||||||||||||||||||||||||||||||
December 31, (in millions) | 2013 | 2012 | ||||||||||||||||||||||||||||||
Derivative receivables balance(a) | $ | 65,759 | $ | 74,983 | ||||||||||||||||||||||||||||
Derivative payables balance(a) | 57,314 | 70,656 | ||||||||||||||||||||||||||||||
Derivatives CVA(b)(c) | (2,352 | ) | (4,238 | ) | ||||||||||||||||||||||||||||
Derivatives DVA and FVA(b)(d) | (322 | ) | 830 | |||||||||||||||||||||||||||||
Structured notes balance (net of structured notes DVA and FVA)(b)(e) | 48,808 | 48,112 | ||||||||||||||||||||||||||||||
Structured notes DVA and FVA(b)(f) | 952 | 1,712 | ||||||||||||||||||||||||||||||
(a) | Balances are presented net of applicable credit and funding adjustments. | |||||||||||||||||||||||||||||||
(b) | Positive credit and funding adjustments represent amounts that increased receivable balances or decreased payable balances; negative credit and funding adjustments represent amounts that decreased receivable balances or increased payable balances. | |||||||||||||||||||||||||||||||
(c) | Derivatives CVA, gross of hedges, includes results managed by the Credit Portfolio and other lines of business within the CIB. | |||||||||||||||||||||||||||||||
(d) | At December 31, 2013 and 2012 included derivatives DVA of $715 million and $830 million, respectively. | |||||||||||||||||||||||||||||||
(e) | Structured notes are predominantly financial instruments containing embedded derivatives. At December 31, 2013 and 2012, included $1.1 billion and $1.1 billion, respectively, of financial instruments with with no embedded derivative for which the fair value option has been elected. | |||||||||||||||||||||||||||||||
(f) | At December 31, 2013 and 2012 included structured notes DVA of $1.4 billion and $1.7 billion, respectively. | |||||||||||||||||||||||||||||||
The following table provides the impact of credit and funding adjustments on earnings in the respective periods, excluding the effect of any hedging activity. | ||||||||||||||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||
Derivative CVA(a) | $ | 1,886 | $ | 2,698 | $ | (2,574 | ) | |||||||||||||||||||||||||
Derivative DVA and FVA(b) | (1,152 | ) | (590 | ) | 538 | |||||||||||||||||||||||||||
Structured notes DVA and FVA(c)(d) | (760 | ) | (340 | ) | 899 | |||||||||||||||||||||||||||
(a) | Derivatives CVA, gross of hedges, includes results managed by the Credit Portfolio and other lines of business within the CIB. | |||||||||||||||||||||||||||||||
(b) | At December 31, 2013, 2012 and 2011 included derivatives DVA of $(115) million, $(590) million and $538 million, respectively. | |||||||||||||||||||||||||||||||
(c) | Structured notes are measured at fair value based on the Firm’s election under the fair value option. For further information on these elections, see Note 4 on pages 215–218 of this Annual Report. | |||||||||||||||||||||||||||||||
(d) | At December 31, 2013, 2012 and 2011 included structured notes DVA of $(337) million, $(340) million and $899 million, respectively. | |||||||||||||||||||||||||||||||
Assets and liabilities measured at fair value on a nonrecurring basis | ||||||||||||||||||||||||||||||||
At December 31, 2013 and 2012, assets measured at fair value on a nonrecurring basis were $6.2 billion and $5.1 billion, respectively, comprised predominantly of loans. At December 31, 2013, $339 million and $5.8 billion of these assets were classified in levels 2 and 3 of the fair value hierarchy, respectively. At December 31, 2012, $667 million and $4.4 billion of these assets were classified in levels 2 and 3 of the fair value hierarchy, respectively. Liabilities measured at fair value on a nonrecurring basis were not significant at December 31, 2013 and 2012. For the years ended December 31, 2013, 2012 and 2011, there were no significant transfers between levels 1, 2, | ||||||||||||||||||||||||||||||||
and 3. | ||||||||||||||||||||||||||||||||
Of the $6.2 billion of assets measured at fair value on a nonrecurring basis, $3.6 billion related to trade finance loans that were reclassified to held-for-sale during the fourth quarter of 2013 and subject to a lower of cost or fair value adjustment. These loans were classified as level 3, as they are valued based on the indicative pricing received from external investors, which ranged from a spread of 30 bps to 78 bps, with a weighted average of 60 bps. | ||||||||||||||||||||||||||||||||
At December 31, 2013, the assets measured at fair value on a nonrecurring basis also included $1.7 billion related to residential real estate loans at the net realizable value of the underlying collateral (i.e., collateral-dependent loans and other loans charged off in accordance with regulatory guidance). These amounts are classified as level 3, as they are valued using a broker’s price opinion and discounted based upon the Firm’s experience with actual liquidation values. These discounts to the broker price opinions ranged from 17% to 62%, with a weighted average of 29%. | ||||||||||||||||||||||||||||||||
The total change in the value of assets and liabilities for which a fair value adjustment has been included in the Consolidated Statements of Income for the years ended December 31, 2013, 2012 and 2011, related to financial instruments held at those dates were losses of $789 million, $1.6 billion and $2.2 billion, respectively; these losses were predominantly associated with loans. The changes reported for the year ended December 31, 2012, included the impact of charge-offs recognized on residential real estate loans discharged under Chapter 7 bankruptcy, as described in Note 14 on page 267 of this Annual Report. | ||||||||||||||||||||||||||||||||
For further information about the measurement of impaired collateral-dependent loans, and other loans where the carrying value is based on the fair value of the underlying collateral (e.g., residential mortgage loans charged off in accordance with regulatory guidance), see Note 14 on pages 258–283 of this Annual Report. | ||||||||||||||||||||||||||||||||
Additional disclosures about the fair value of financial instruments that are not carried on the Consolidated Balance Sheets at fair value | ||||||||||||||||||||||||||||||||
U.S. GAAP requires disclosure of the estimated fair value of certain financial instruments, and the methods and significant assumptions used to estimate their fair value. Financial instruments within the scope of these disclosure requirements are included in the following table. However, certain financial instruments and all nonfinancial instruments are excluded from the scope of these disclosure requirements. Accordingly, the fair value disclosures provided in the following table include only a partial estimate of the fair value of JPMorgan Chase’s assets and liabilities. For example, the Firm has developed long-term relationships with its customers through its deposit base and credit card accounts, commonly referred to as core deposit intangibles and credit card relationships. In the opinion of management, these items, in the aggregate, add significant value to JPMorgan Chase, but their fair value is not disclosed in this Note. | ||||||||||||||||||||||||||||||||
Financial instruments for which carrying value approximates fair value | ||||||||||||||||||||||||||||||||
Certain financial instruments that are not carried at fair value on the Consolidated Balance Sheets are carried at amounts that approximate fair value, due to their short-term nature and generally negligible credit risk. These instruments include cash and due from banks; deposits with banks; federal funds sold; securities purchased under resale agreements and securities borrowed with short-dated maturities; short-term receivables and accrued interest receivable; commercial paper; federal funds purchased; securities loaned and sold under repurchase agreements with short-dated maturities; other borrowed funds; accounts payable; and accrued liabilities. In addition, U.S. GAAP requires that the fair value of deposit liabilities with no stated maturity (i.e., demand, savings and certain money market deposits) be equal to their carrying value; recognition of the inherent funding value of these instruments is not permitted. | ||||||||||||||||||||||||||||||||
The following table presents the carrying values and estimated fair values at December 31, 2013 and 2012, of financial assets and liabilities, excluding financial instruments which are carried at fair value on a recurring basis, and information is provided on their classification within the fair value hierarchy. For additional information regarding the financial instruments within the scope of this disclosure, and the methods and significant assumptions used to estimate their fair value, see pages 196–200 of this Note. | ||||||||||||||||||||||||||||||||
December 31, 2013 | 31-Dec-12 | |||||||||||||||||||||||||||||||
Estimated fair value hierarchy | Estimated fair value hierarchy | |||||||||||||||||||||||||||||||
(in billions) | Carrying | Level 1 | Level 2 | Level 3 | Total estimated | Carrying | Level 1 | Level 2 | Level 3 | Total estimated | ||||||||||||||||||||||
value | fair value | value | fair value | |||||||||||||||||||||||||||||
Financial assets | ||||||||||||||||||||||||||||||||
Cash and due from banks | $ | 39.8 | $ | 39.8 | $ | — | $ | — | $ | 39.8 | $ | 53.7 | $ | 53.7 | $ | — | $ | — | $ | 53.7 | ||||||||||||
Deposits with banks | 316.1 | 309.7 | 6.4 | — | 316.1 | 121.8 | 114.1 | 7.7 | — | 121.8 | ||||||||||||||||||||||
Accrued interest and accounts receivable | 65.2 | — | 64.9 | 0.3 | 65.2 | 60.9 | — | 60.3 | 0.6 | 60.9 | ||||||||||||||||||||||
Federal funds sold and securities purchased under resale agreements | 223 | — | 223 | — | 223 | 272 | — | 272 | — | 272 | ||||||||||||||||||||||
Securities borrowed | 107.7 | — | 107.7 | — | 107.7 | 108.8 | — | 108.8 | — | 108.8 | ||||||||||||||||||||||
Securities, held-to-maturity(a) | 24 | — | 23.7 | — | 23.7 | — | — | — | — | — | ||||||||||||||||||||||
Loans, net of allowance for loan losses(b) | 720.1 | — | 23 | 697.2 | 720.2 | 709.3 | — | 26.4 | 685.4 | 711.8 | ||||||||||||||||||||||
Other | 58.1 | — | 54.5 | 4.3 | 58.8 | 49.7 | — | 42.7 | 7.4 | 50.1 | ||||||||||||||||||||||
Financial liabilities | ||||||||||||||||||||||||||||||||
Deposits | $ | 1,281.10 | $ | — | $ | 1,280.30 | $ | 1.2 | $ | 1,281.50 | $ | 1,187.90 | $ | — | $ | 1,187.20 | $ | 1.2 | $ | 1,188.40 | ||||||||||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 175.7 | — | 175.7 | — | 175.7 | 235.7 | — | 235.7 | — | 235.7 | ||||||||||||||||||||||
Commercial paper | 57.8 | — | 57.8 | — | 57.8 | 55.4 | — | 55.4 | — | 55.4 | ||||||||||||||||||||||
Other borrowed funds | 14.7 | — | 14.7 | — | 14.7 | 15 | — | 15 | — | 15 | ||||||||||||||||||||||
Accounts payable and other liabilities | 160.2 | — | 158.2 | 1.8 | 160 | 156.5 | — | 153.8 | 2.5 | 156.3 | ||||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | 47.6 | — | 44.3 | 3.2 | 47.5 | 62 | — | 57.7 | 4.4 | 62.1 | ||||||||||||||||||||||
Long-term debt and junior subordinated deferrable interest debentures(c) | 239 | — | 240.8 | 6 | 246.8 | 218.2 | — | 220 | 5.4 | 225.4 | ||||||||||||||||||||||
(a) | Carrying value includes unamortized discount or premium. | |||||||||||||||||||||||||||||||
(b) | Fair value is typically estimated using a discounted cash flow model that incorporates the characteristics of the underlying loans (including principal, contractual interest rate and contractual fees) and other key inputs, including expected lifetime credit losses, interest rates, prepayment rates, and primary origination or secondary market spreads. For certain loans, the fair value is measured based on the value of the underlying collateral. The difference between the estimated fair value and carrying value of a financial asset or liability is the result of the different methodologies used to determine fair value as compared with carrying value. For example, credit losses are estimated for a financial asset’s remaining life in a fair value calculation but are estimated for a loss emergence period in the allowance for loan loss calculation; future loan income (interest and fees) is incorporated in a fair value calculation but is generally not considered in the allowance for loan losses. For a further discussion of the Firm’s methodologies for estimating the fair value of loans and lending-related commitments, see Valuation hierarchy on pages 196–200 of this Annual Report. | |||||||||||||||||||||||||||||||
(c) | Carrying value includes unamortized original issue discount and other valuation adjustments. | |||||||||||||||||||||||||||||||
The majority of the Firm’s lending-related commitments are not carried at fair value on a recurring basis on the Consolidated Balance Sheets, nor are they actively traded. The carrying value and estimated fair value of the Firm’s wholesale lending-related commitments were as follows for the periods indicated. | ||||||||||||||||||||||||||||||||
December 31, 2013 | 31-Dec-12 | |||||||||||||||||||||||||||||||
Estimated fair value hierarchy | Estimated fair value hierarchy | |||||||||||||||||||||||||||||||
(in billions) | Carrying value(a) | Level 1 | Level 2 | Level 3 | Total estimated fair value | Carrying value(a) | Level 1 | Level 2 | Level 3 | Total estimated fair value | ||||||||||||||||||||||
Wholesale lending-related commitments | $ | 0.7 | $ | — | $ | — | $ | 1 | $ | 1 | $ | 0.7 | $ | — | $ | — | $ | 1.9 | $ | 1.9 | ||||||||||||
(a) | Represents the allowance for wholesale lending-related commitments. Excludes the current carrying values of the guarantee liability and the offsetting asset, each of which are recognized at fair value at the inception of guarantees. | |||||||||||||||||||||||||||||||
The Firm does not estimate the fair value of consumer lending-related commitments. In many cases, the Firm can reduce or cancel these commitments by providing the borrower notice or, in some cases, without notice as permitted by law. For a further discussion of the valuation of lending-related commitments, see page 198 of this Note. | ||||||||||||||||||||||||||||||||
Trading assets and liabilities | ||||||||||||||||||||||||||||||||
Trading assets include debt and equity instruments owned by JPMorgan Chase (“long” positions) that are held for client market-making and client-driven activities, as well as for certain risk management activities, certain loans managed on a fair value basis and for which the Firm has elected the fair value option, and physical commodities inventories that are generally accounted for at the lower of cost or market (market approximates fair value). Trading liabilities include debt and equity instruments that the Firm has sold to other parties but does not own (“short” positions). The Firm is obligated to purchase instruments at a future date to cover the short positions. Included in trading assets and trading liabilities are the reported receivables (unrealized gains) and payables (unrealized losses) related to derivatives. Trading assets and liabilities are carried at fair value on the Consolidated Balance Sheets. Balances reflect the reduction of securities owned (long positions) by the amount of identical securities sold but not yet purchased (short positions). | ||||||||||||||||||||||||||||||||
Trading assets and liabilities – average balances | ||||||||||||||||||||||||||||||||
Average trading assets and liabilities were as follows for the periods indicated. | ||||||||||||||||||||||||||||||||
Year ended December 31, (in millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||
Trading assets – debt and equity instruments | $ | 340,449 | $ | 349,337 | $ | 393,890 | ||||||||||||||||||||||||||
Trading assets – derivative receivables | 72,629 | 85,744 | 90,003 | |||||||||||||||||||||||||||||
Trading liabilities – debt and equity instruments(a) | 77,706 | 69,001 | 81,916 | |||||||||||||||||||||||||||||
Trading liabilities – derivative payables | 64,553 | 76,162 | 71,539 | |||||||||||||||||||||||||||||
(a) | Primarily represent securities sold, not yet purchased. |
Fair_Value_Option
Fair Value Option | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Fair Value Option [Abstract] | ' | ||||||||||||||||||||||||||||||||
Fair value option | ' | ||||||||||||||||||||||||||||||||
Fair value option | |||||||||||||||||||||||||||||||||
The fair value option provides an option to elect fair value as an alternative measurement for selected financial assets, financial liabilities, unrecognized firm commitments, and written loan commitments not previously carried at fair value. | |||||||||||||||||||||||||||||||||
Elections | |||||||||||||||||||||||||||||||||
Elections were made by the Firm to: | |||||||||||||||||||||||||||||||||
• | Mitigate income statement volatility caused by the differences in the measurement basis of elected instruments (for example, certain instruments elected were previously accounted for on an accrual basis) while the associated risk management arrangements are accounted for on a fair value basis; | ||||||||||||||||||||||||||||||||
• | Eliminate the complexities of applying certain accounting models (e.g., hedge accounting or bifurcation accounting for hybrid instruments); and/or | ||||||||||||||||||||||||||||||||
• | Better reflect those instruments that are managed on a fair value basis. | ||||||||||||||||||||||||||||||||
Elections include the following: | |||||||||||||||||||||||||||||||||
• | Loans purchased or originated as part of securitization warehousing activity, subject to bifurcation accounting, or managed on a fair value basis. | ||||||||||||||||||||||||||||||||
• | Securities financing arrangements with an embedded derivative and/or a maturity of greater than one year. | ||||||||||||||||||||||||||||||||
• | Owned beneficial interests in securitized financial assets that contain embedded credit derivatives, which would otherwise be required to be separately accounted for as a derivative instrument. | ||||||||||||||||||||||||||||||||
• | Certain investments that receive tax credits and other equity investments acquired as part of the Washington Mutual transaction. | ||||||||||||||||||||||||||||||||
• | Structured notes issued as part of CIB’s client-driven activities. (Structured notes are predominantly financial instruments that contain embedded derivatives.) | ||||||||||||||||||||||||||||||||
• | Long-term beneficial interests issued by CIB’s consolidated securitization trusts where the underlying assets are carried at fair value. | ||||||||||||||||||||||||||||||||
Changes in fair value under the fair value option election | |||||||||||||||||||||||||||||||||
The following table presents the changes in fair value included in the Consolidated Statements of Income for the years ended December 31, 2013, 2012 and 2011, for items for which the fair value option was elected. The profit and loss information presented below only includes the financial instruments that were elected to be measured at fair value; related risk management instruments, which are required to be measured at fair value, are not included in the table. | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
December 31, (in millions) | Principal transactions | Other income | Total changes in fair value recorded | Principal transactions | Other income | Total changes in fair value recorded | Principal transactions | Other income | Total changes in fair value recorded | ||||||||||||||||||||||||
Federal funds sold and securities purchased under resale agreements | $ | (454 | ) | $ | — | $ | (454 | ) | $ | 161 | $ | — | $ | 161 | $ | 270 | $ | — | $ | 270 | |||||||||||||
Securities borrowed | 10 | — | 10 | 10 | — | 10 | (61 | ) | — | (61 | ) | ||||||||||||||||||||||
Trading assets: | |||||||||||||||||||||||||||||||||
Debt and equity instruments, excluding loans | 582 | 7 | (c) | 589 | 513 | 7 | (c) | 520 | 53 | (6 | ) | (c) | 47 | ||||||||||||||||||||
Loans reported as trading assets: | |||||||||||||||||||||||||||||||||
Changes in instrument-specific credit risk | 1,161 | 23 | (c) | 1,184 | 1,489 | 81 | (c) | 1,570 | 934 | (174 | ) | (c) | 760 | ||||||||||||||||||||
Other changes in fair value | (133 | ) | 1,833 | (c) | 1,700 | (183 | ) | 7,670 | (c) | 7,487 | 127 | 5,263 | (c) | 5,390 | |||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Changes in instrument-specific credit risk | 36 | — | 36 | (14 | ) | — | (14 | ) | 2 | — | 2 | ||||||||||||||||||||||
Other changes in fair value | 17 | — | 17 | 676 | — | 676 | 535 | — | 535 | ||||||||||||||||||||||||
Other assets | 32 | (29 | ) | (d) | 3 | — | (339 | ) | (d) | (339 | ) | (49 | ) | (19 | ) | (d) | (68 | ) | |||||||||||||||
Deposits(a) | 260 | — | 260 | (188 | ) | — | (188 | ) | (237 | ) | — | (237 | ) | ||||||||||||||||||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 73 | — | 73 | (25 | ) | — | (25 | ) | (4 | ) | — | (4 | ) | ||||||||||||||||||||
Other borrowed funds(a) | (399 | ) | — | (399 | ) | 494 | — | 494 | 2,986 | — | 2,986 | ||||||||||||||||||||||
Trading liabilities | (46 | ) | — | (46 | ) | (41 | ) | — | (41 | ) | (57 | ) | — | (57 | ) | ||||||||||||||||||
Beneficial interests issued by consolidated VIEs | (278 | ) | — | (278 | ) | (166 | ) | — | (166 | ) | (83 | ) | — | (83 | ) | ||||||||||||||||||
Other liabilities | — | 2 | (d) | 2 | — | — | — | (3 | ) | (5 | ) | (d) | (8 | ) | |||||||||||||||||||
Long-term debt: | |||||||||||||||||||||||||||||||||
Changes in instrument-specific credit risk(a) | (271 | ) | — | (271 | ) | (835 | ) | — | (835 | ) | 927 | — | 927 | ||||||||||||||||||||
Other changes in fair value(b) | 1,280 | — | 1,280 | (1,025 | ) | — | (1,025 | ) | 322 | — | 322 | ||||||||||||||||||||||
(a) | Total changes in instrument-specific credit risk related to structured notes were $(337) million, $(340) million, and $899 million for the years ended December 31, 2013, 2012 and 2011, respectively. These totals include adjustments for structured notes classified within deposits and other borrowed funds, as well as long-term debt. | ||||||||||||||||||||||||||||||||
(b) | Structured notes are predominantly financial instruments containing embedded derivatives. Where present, the embedded derivative is the primary driver of risk. Although the risk associated with the structured notes is actively managed, the gains/(losses) reported in this table do not include the income statement impact of the risk management instruments used to manage such risk. | ||||||||||||||||||||||||||||||||
(c) | Reported in mortgage fees and related income. | ||||||||||||||||||||||||||||||||
(d) | Reported in other income. | ||||||||||||||||||||||||||||||||
Determination of instrument-specific credit risk for items for which a fair value election was made | |||||||||||||||||||||||||||||||||
The following describes how the gains and losses included in earnings during December 31, 2013, 2012 and 2011, which were attributable to changes in instrument-specific credit risk, were determined. | |||||||||||||||||||||||||||||||||
• | Loans and lending-related commitments: For floating-rate instruments, all changes in value are attributed to instrument-specific credit risk. For fixed-rate instruments, an allocation of the changes in value for the period is made between those changes in value that are interest rate-related and changes in value that are credit-related. Allocations are generally based on an analysis of borrower-specific credit spread and recovery information, where available, or benchmarking to similar entities or industries. | ||||||||||||||||||||||||||||||||
• | Long-term debt: Changes in value attributable to instrument-specific credit risk were derived principally from observable changes in the Firm’s credit spread. | ||||||||||||||||||||||||||||||||
• | Resale and repurchase agreements, securities borrowed agreements and securities lending agreements: Generally, for these types of agreements, there is a requirement that collateral be maintained with a market value equal to or in excess of the principal amount loaned; as a result, there would be no adjustment or an immaterial adjustment for instrument-specific credit risk related to these agreements. | ||||||||||||||||||||||||||||||||
Difference between aggregate fair value and aggregate remaining contractual principal balance outstanding | |||||||||||||||||||||||||||||||||
The following table reflects the difference between the aggregate fair value and the aggregate remaining contractual principal balance outstanding as of December 31, 2013 and 2012, for loans, long-term debt and long-term beneficial interests for which the fair value option has been elected. | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
December 31, (in millions) | Contractual principal outstanding | Fair value | Fair value over/(under) contractual principal outstanding | Contractual principal outstanding | Fair value | Fair value over/(under) contractual principal outstanding | |||||||||||||||||||||||||||
Loans(a) | |||||||||||||||||||||||||||||||||
Nonaccrual loans | |||||||||||||||||||||||||||||||||
Loans reported as trading assets | $ | 5,156 | $ | 1,491 | $ | (3,665 | ) | $ | 4,217 | $ | 960 | $ | (3,257 | ) | |||||||||||||||||||
Loans(d) | 209 | 154 | (55 | ) | 293 | 236 | (57 | ) | |||||||||||||||||||||||||
Subtotal | 5,365 | 1,645 | (3,720 | ) | 4,510 | 1,196 | (3,314 | ) | |||||||||||||||||||||||||
All other performing loans | |||||||||||||||||||||||||||||||||
Loans reported as trading assets | 33,069 | 29,295 | (3,774 | ) | 44,084 | 40,581 | (3,503 | ) | |||||||||||||||||||||||||
Loans(d) | 1,618 | 1,563 | (55 | ) | 2,034 | 1,927 | (107 | ) | |||||||||||||||||||||||||
Total loans | $ | 40,052 | $ | 32,503 | $ | (7,549 | ) | $ | 50,628 | $ | 43,704 | $ | (6,924 | ) | |||||||||||||||||||
Long-term debt | |||||||||||||||||||||||||||||||||
Principal-protected debt | $ | 15,797 | (c) | $ | 15,909 | $ | 112 | $ | 16,541 | (c) | $ | 16,391 | $ | (150 | ) | ||||||||||||||||||
Nonprincipal-protected debt(b) | NA | 12,969 | NA | NA | 14,397 | NA | |||||||||||||||||||||||||||
Total long-term debt | NA | $ | 28,878 | NA | NA | $ | 30,788 | NA | |||||||||||||||||||||||||
Long-term beneficial interests | |||||||||||||||||||||||||||||||||
Nonprincipal-protected debt(b) | NA | $ | 1,996 | NA | NA | $ | 1,170 | NA | |||||||||||||||||||||||||
Total long-term beneficial interests | NA | $ | 1,996 | NA | NA | $ | 1,170 | NA | |||||||||||||||||||||||||
(a) | There were no performing loans that were ninety days or more past due as of December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||||
(b) | Remaining contractual principal is not applicable to nonprincipal-protected notes. Unlike principal-protected structured notes, for which the Firm is obligated to return a stated amount of principal at the maturity of the note, nonprincipal-protected structured notes do not obligate the Firm to return a stated amount of principal at maturity, but to return an amount based on the performance of an underlying variable or derivative feature embedded in the note. | ||||||||||||||||||||||||||||||||
(c) | Where the Firm issues principal-protected zero-coupon or discount notes, the balance reflected as the remaining contractual principal is the final principal payment at maturity. | ||||||||||||||||||||||||||||||||
(d) | During 2013, certain loans that resulted from restructurings that were previously classified as performing were reclassified as nonperforming loans. Prior periods were revised to conform with the current presentation. | ||||||||||||||||||||||||||||||||
At December 31, 2013 and 2012, the contractual amount of letters of credit for which the fair value option was elected was $4.5 billion and $4.5 billion, respectively, with a corresponding fair value of $(99) million and $(75) million, respectively. For further information regarding off-balance sheet lending-related financial instruments, see Note 29 on pages 318–324 of this Annual Report. | |||||||||||||||||||||||||||||||||
Structured note products by balance sheet classification and risk component | |||||||||||||||||||||||||||||||||
The table below presents the fair value of the structured notes issued by the Firm, by balance sheet classification and the primary risk to which the structured notes’ embedded derivative relates. | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
(in millions) | Long-term debt | Other borrowed funds | Deposits | Total | Long-term debt | Other borrowed funds | Deposits | Total | |||||||||||||||||||||||||
Risk exposure | |||||||||||||||||||||||||||||||||
Interest rate | $ | 9,516 | $ | 615 | $ | 1,270 | $ | 11,401 | $ | 8,669 | $ | 1,143 | $ | 559 | $ | 10,371 | |||||||||||||||||
Credit | 4,248 | 13 | — | 4,261 | 6,166 | — | — | 6,166 | |||||||||||||||||||||||||
Foreign exchange | 2,321 | 194 | 27 | 2,542 | 2,819 | — | 29 | 2,848 | |||||||||||||||||||||||||
Equity | 11,082 | 11,936 | 3,736 | 26,754 | 11,580 | 9,809 | 2,972 | 24,361 | |||||||||||||||||||||||||
Commodity | 1,260 | 310 | 1,133 | 2,703 | 1,379 | 332 | 1,555 | 3,266 | |||||||||||||||||||||||||
Total structured notes | $ | 28,427 | $ | 13,068 | $ | 6,166 | $ | 47,661 | $ | 30,613 | $ | 11,284 | $ | 5,115 | $ | 47,012 | |||||||||||||||||
Credit_Risk_Concentrations
Credit Risk Concentrations | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Credit Risk Concentrations [Abstract] | ' | |||||||||||||||||||||||||
Credit risk concentrations | ' | |||||||||||||||||||||||||
Credit risk concentrations | ||||||||||||||||||||||||||
Concentrations of credit risk arise when a number of customers are engaged in similar business activities or activities in the same geographic region, or when they have similar economic features that would cause their ability to meet contractual obligations to be similarly affected by changes in economic conditions. | ||||||||||||||||||||||||||
JPMorgan Chase regularly monitors various segments of its credit portfolios to assess potential concentration risks and to obtain collateral when deemed necessary. Senior management is significantly involved in the credit approval and review process, and risk levels are adjusted as needed to reflect the Firm’s risk appetite. | ||||||||||||||||||||||||||
In the Firm’s consumer portfolio, concentrations are evaluated primarily by product and by U.S. geographic region, with a key focus on trends and concentrations at the portfolio level, where potential risk concentrations can be remedied through changes in underwriting policies and portfolio guidelines. In the wholesale portfolio, risk concentrations are evaluated primarily by industry and monitored regularly on both an aggregate portfolio level and on an individual customer basis. Management of the Firm’s wholesale exposure is accomplished through loan syndications and participations, loan sales, securitizations, credit derivatives, use of master netting agreements, and collateral and other risk-reduction techniques. For | ||||||||||||||||||||||||||
additional information on loans see Note 14 on pages 258–283 of this Annual Report. | ||||||||||||||||||||||||||
The Firm does not believe that its exposure to any particular loan product (e.g., option adjustable rate mortgages (“ARMs”)), industry segment (e.g., commercial real estate) or its exposure to residential real estate loans with high loan-to-value ratios results in a significant concentration of credit risk. Terms of loan products and collateral coverage are included in the Firm’s assessment when extending credit and establishing its allowance for loan losses. | ||||||||||||||||||||||||||
Customer receivables representing primarily margin loans to prime and retail brokerage clients of $26.9 billion and $23.8 billion at December 31, 2013 and 2012, respectively, are included in the table below. These margin loans are generally over-collateralized through a pledge of assets maintained in clients’ brokerage accounts and are subject to daily minimum collateral requirements. In the event that the collateral value decreases, a maintenance margin call is made to the client to provide additional collateral into the account. If additional collateral is not provided by the client, the client’s positions may be liquidated by the Firm to meet the minimum collateral requirements. As a result of the Firm’s credit risk mitigation practices, the Firm did not hold any reserves for credit impairment on these receivables as of December 31, 2013 and 2012. | ||||||||||||||||||||||||||
The table below presents both on–balance sheet and off–balance sheet consumer and wholesale-related credit exposure by the Firm’s three credit portfolio segments as of December 31, 2013 and 2012. | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Credit exposure | On-balance sheet | Off-balance sheet(b) | Credit exposure | On-balance sheet | Off-balance sheet(b) | |||||||||||||||||||||
December 31, (in millions) | Loans | Derivatives | Loans | Derivatives | ||||||||||||||||||||||
Total consumer, excluding credit card | $ | 345,259 | $ | 289,063 | $ | — | $ | 56,057 | $ | 352,889 | $ | 292,620 | $ | — | $ | 60,156 | ||||||||||
Total credit card | 657,174 | 127,791 | — | 529,383 | 661,011 | 127,993 | — | 533,018 | ||||||||||||||||||
Total consumer | 1,002,433 | 416,854 | — | 585,440 | 1,013,900 | 420,613 | — | 593,174 | ||||||||||||||||||
Wholesale-related | ||||||||||||||||||||||||||
Real Estate | 87,102 | 69,151 | 460 | 17,491 | 76,198 | 60,740 | 1,084 | 14,374 | ||||||||||||||||||
Banks & Finance Cos | 66,881 | 25,482 | 18,888 | 22,511 | 73,318 | 26,651 | 19,846 | 26,821 | ||||||||||||||||||
Oil & Gas | 46,934 | 14,383 | 2,203 | 30,348 | 42,563 | 14,704 | 2,345 | 25,514 | ||||||||||||||||||
Healthcare | 45,910 | 13,319 | 3,202 | 29,389 | 48,487 | 11,638 | 3,359 | 33,490 | ||||||||||||||||||
State & Municipal Govt | 35,666 | 8,708 | 3,319 | 23,639 | 41,821 | 7,998 | 5,138 | 28,685 | ||||||||||||||||||
Consumer Products | 34,145 | 9,099 | 715 | 24,331 | 32,778 | 9,151 | 826 | 22,801 | ||||||||||||||||||
Asset Managers | 33,506 | 5,656 | 7,175 | 20,675 | 31,474 | 6,220 | 8,390 | 16,864 | ||||||||||||||||||
Utilities | 28,983 | 5,582 | 2,248 | 21,153 | 29,533 | 6,814 | 2,649 | 20,070 | ||||||||||||||||||
Retail & Consumer Services | 25,068 | 7,504 | 273 | 17,291 | 25,597 | 7,901 | 429 | 17,267 | ||||||||||||||||||
Technology | 21,403 | 4,426 | 1,392 | 15,585 | 18,488 | 3,806 | 1,192 | 13,490 | ||||||||||||||||||
Central Govt | 21,049 | 1,754 | 9,998 | 9,297 | 21,223 | 1,333 | 11,232 | 8,658 | ||||||||||||||||||
Machinery & Equipment Mfg | 19,078 | 5,969 | 476 | 12,633 | 18,504 | 6,304 | 592 | 11,608 | ||||||||||||||||||
Metals/Mining | 17,434 | 5,825 | 560 | 11,049 | 20,958 | 6,059 | 624 | 14,275 | ||||||||||||||||||
Business Services | 14,601 | 4,497 | 594 | 9,510 | 13,577 | 4,550 | 190 | 8,837 | ||||||||||||||||||
Transportation | 13,975 | 6,845 | 621 | 6,509 | 19,827 | 12,763 | 673 | 6,391 | ||||||||||||||||||
All other(a) | 308,519 | 120,063 | 13,635 | 174,821 | 301,673 | 119,590 | 16,414 | 165,669 | ||||||||||||||||||
Subtotal | 820,254 | 308,263 | 65,759 | 446,232 | 816,019 | 306,222 | 74,983 | 434,814 | ||||||||||||||||||
Loans held-for-sale and loans at fair value | 13,301 | 13,301 | — | — | 6,961 | 6,961 | — | — | ||||||||||||||||||
Receivables from customers and other | 26,744 | — | — | — | 23,648 | — | — | — | ||||||||||||||||||
Total wholesale-related | 860,299 | 321,564 | 65,759 | 446,232 | $ | 846,628 | $ | 313,183 | 74,983 | 434,814 | ||||||||||||||||
Total exposure(c) | $ | 1,862,732 | $ | 738,418 | $ | 65,759 | $ | 1,031,672 | $ | 1,860,528 | $ | 733,796 | $ | 74,983 | $ | 1,027,988 | ||||||||||
(a) | For more information on exposures to SPEs included within All other see Note 16 on pages 288–299 of this Annual Report. | |||||||||||||||||||||||||
(b) | Represents lending-related financial instruments. | |||||||||||||||||||||||||
(c) | For further information regarding on–balance sheet credit concentrations by major product and/or geography, see Notes 6, 14 and 15 on pages 220–233, 258–283 and 284–287, respectively, of this Annual Report. For information regarding concentrations of off–balance sheet lending-related financial instruments by major product, see Note 29 on pages 318–324 of this Annual Report. |
Derivative_Instruments
Derivative Instruments | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Derivative instruments | ' | ||||||||||||||||||||||||||||
Derivative instruments | |||||||||||||||||||||||||||||
Derivative instruments enable end-users to modify or mitigate exposure to credit or market risks. Counterparties to a derivative contract seek to obtain risks and rewards similar to those that could be obtained from purchasing or selling a related cash instrument without having to exchange upfront the full purchase or sales price. JPMorgan Chase makes markets in derivatives for customers and also uses derivatives to hedge or manage its own risk exposures. Predominantly all of the Firm’s derivatives are entered into for market-making or risk management purposes. | |||||||||||||||||||||||||||||
Market-making derivatives | |||||||||||||||||||||||||||||
The majority of the Firm’s derivatives are entered into for market-making purposes. Customers use derivatives to mitigate or modify interest rate, credit, foreign exchange, equity and commodity risks. The Firm actively manages the risks from its exposure to these derivatives by entering into other derivative transactions or by purchasing or selling other financial instruments that partially or fully offset the exposure from client derivatives. The Firm also seeks to earn a spread between the client derivatives and offsetting positions, and from the remaining open risk positions. | |||||||||||||||||||||||||||||
Risk management derivatives | |||||||||||||||||||||||||||||
The Firm manages its market risk exposures using various derivative instruments. | |||||||||||||||||||||||||||||
Interest rate contracts are used to minimize fluctuations in earnings that are caused by changes in interest rates. Fixed-rate assets and liabilities appreciate or depreciate in market value as interest rates change. Similarly, interest income and expense increases or decreases as a result of variable-rate assets and liabilities resetting to current market rates, and as a result of the repayment and subsequent origination or issuance of fixed-rate assets and liabilities at current market rates. Gains or losses on the derivative instruments that are related to such assets and liabilities are expected to substantially offset this variability in earnings. The Firm generally uses interest rate swaps, forwards and futures to manage the impact of interest rate fluctuations on earnings. | |||||||||||||||||||||||||||||
Foreign currency forward contracts are used to manage the foreign exchange risk associated with certain foreign currency–denominated (i.e., non-U.S. dollar) assets and liabilities and forecasted transactions, as well as the Firm’s net investments in certain non-U.S. subsidiaries or branches whose functional currencies are not the U.S. dollar. As a result of fluctuations in foreign currencies, the U.S. dollar–equivalent values of the foreign currency–denominated assets and liabilities or forecasted revenue or expense increase or decrease. Gains or losses on the derivative instruments related to these foreign currency–denominated assets or liabilities, or forecasted transactions, are expected to substantially offset this variability. | |||||||||||||||||||||||||||||
Commodities contracts are used to manage the price risk of certain commodities inventories. Gains or losses on these derivative instruments are expected to substantially offset the depreciation or appreciation of the related inventory. Also in the commodities portfolio, electricity and natural gas futures and forwards contracts are used to manage price risk associated with energy-related tolling and load-serving contracts and investments. | |||||||||||||||||||||||||||||
The Firm uses credit derivatives to manage the counterparty credit risk associated with loans and lending-related commitments. Credit derivatives compensate the purchaser when the entity referenced in the contract experiences a credit event, such as bankruptcy or a failure to pay an obligation when due. Credit derivatives primarily consist of credit default swaps. For a further discussion of credit derivatives, see the discussion in the Credit derivatives section on pages 231–233 of this Note. | |||||||||||||||||||||||||||||
For more information about risk management derivatives, see the risk management derivatives gains and losses table on page 231 of this Note, and the hedge accounting gains and losses tables on pages 229–231 of this Note. | |||||||||||||||||||||||||||||
Derivative counterparties and settlement types | |||||||||||||||||||||||||||||
The Firm enters into over-the-counter (“OTC”) derivatives, which are negotiated and settled bilaterally with the derivative counterparty. The Firm also enters into, as principal, certain exchange traded derivatives (“ETD”) such as futures and options, and “cleared” over-the-counter (“OTC-cleared”) derivative contracts with central counterparties (“CCPs”). ETD contracts are generally standardized contracts traded on an exchange and cleared by the CCP, which is the counterparty from the inception of the transactions. OTC-cleared derivatives are traded on a bilateral basis and then novated to the CCP for clearing. | |||||||||||||||||||||||||||||
Accounting for derivatives | |||||||||||||||||||||||||||||
All free-standing derivatives that the Firm executes for its own account are required to be recorded on the Consolidated Balance Sheets at fair value. For information on the derivatives that the Firm clears for its clients’ accounts, see Note 29 on pages 318–324 of this Annual Report. | |||||||||||||||||||||||||||||
As permitted under U.S. GAAP, the Firm nets derivative assets and liabilities, and the related cash collateral receivables and payables, when a legally enforceable master netting agreement exists between the Firm and the derivative counterparty. For further discussion of the offsetting of assets and liabilities, see Note 1 on pages 189–191 of this Annual Report. The accounting for changes in value of a derivative depends on whether or not the transaction has been designated and qualifies for hedge accounting. Derivatives that are not designated as hedges are reported and measured at fair value through earnings. The tabular disclosures on pages 223–233 of this Note provide additional information on the amount of, and reporting for, derivative assets, liabilities, gains and losses. For further discussion of derivatives embedded in structured notes, see Notes 3 and 4 on pages 195–215 and 215–218, respectively, of this Annual Report. | |||||||||||||||||||||||||||||
Derivatives designated as hedges | |||||||||||||||||||||||||||||
The Firm applies hedge accounting to certain derivatives executed for risk management purposes – generally interest rate, foreign exchange and commodity derivatives. However, JPMorgan Chase does not seek to apply hedge accounting to all of the derivatives involved in the Firm’s risk management activities. For example, the Firm does not apply hedge accounting to purchased credit default swaps used to manage the credit risk of loans and lending-related commitments, because of the difficulties in qualifying such contracts as hedges. For the same reason, the Firm does not apply hedge accounting to certain interest rate and commodity derivatives used for risk management purposes. | |||||||||||||||||||||||||||||
To qualify for hedge accounting, a derivative must be highly effective at reducing the risk associated with the exposure being hedged. In addition, for a derivative to be designated as a hedge, the risk management objective and strategy must be documented. Hedge documentation must identify the derivative hedging instrument, the asset or liability or forecasted transaction and type of risk to be hedged, and how the effectiveness of the derivative is assessed prospectively and retrospectively. To assess effectiveness, the Firm uses statistical methods such as regression analysis, as well as nonstatistical methods including dollar-value comparisons of the change in the fair value of the derivative to the change in the fair value or cash flows of the hedged item. The extent to which a derivative has been, and is expected to continue to be, effective at offsetting changes in the fair value or cash flows of the hedged item must be assessed and documented at least quarterly. Any hedge ineffectiveness (i.e., the amount by which the gain or loss on the designated derivative instrument does not exactly offset the change in the hedged item attributable to the hedged risk) must be reported in current-period earnings. If it is determined that a derivative is not highly effective at hedging the designated exposure, hedge accounting is discontinued. | |||||||||||||||||||||||||||||
There are three types of hedge accounting designations: fair value hedges, cash flow hedges and net investment hedges. JPMorgan Chase uses fair value hedges primarily to hedge fixed-rate long-term debt, AFS securities and certain commodities inventories. For qualifying fair value hedges, the changes in the fair value of the derivative, and in the value of the hedged item for the risk being hedged, are recognized in earnings. If the hedge relationship is terminated, then the adjustment to the hedged item continues to be reported as part of the basis of the hedged item and for interest-bearing instruments is amortized to earnings as a yield adjustment. Derivative amounts affecting earnings are recognized consistent with the classification of the hedged item – primarily net interest income and principal transactions revenue. | |||||||||||||||||||||||||||||
JPMorgan Chase uses cash flow hedges primarily to hedge the exposure to variability in forecasted cash flows from floating-rate assets and liabilities and foreign currency–denominated revenue and expense. For qualifying cash flow hedges, the effective portion of the change in the fair value of the derivative is recorded in OCI and recognized in the Consolidated Statements of Income when the hedged cash flows affect earnings. Derivative amounts affecting earnings are recognized consistent with the classification of the hedged item – primarily interest income, interest expense, noninterest revenue and compensation expense. The ineffective portions of cash flow hedges are immediately recognized in earnings. If the hedge relationship is terminated, then the value of the derivative recorded in accumulated other comprehensive income/(loss) (“AOCI”) is recognized in earnings when the cash flows that were hedged affect earnings. For hedge relationships that are discontinued because a forecasted transaction is expected to not occur according to the original hedge forecast, any related derivative values recorded in AOCI are immediately recognized in earnings. | |||||||||||||||||||||||||||||
JPMorgan Chase uses foreign currency hedges to protect the value of the Firm’s net investments in certain non-U.S. subsidiaries or branches whose functional currencies are not the U.S. dollar. For foreign currency qualifying net investment hedges, changes in the fair value of the derivatives are recorded in the translation adjustments account within AOCI. | |||||||||||||||||||||||||||||
The following table outlines the Firm’s primary uses of derivatives and the related hedge accounting designation or disclosure category. | |||||||||||||||||||||||||||||
Type of Derivative | Use of Derivative | Designation and disclosure | Affected segment or unit | Page reference | |||||||||||||||||||||||||
Manage specifically identified risk exposures in qualifying hedge accounting relationships: | |||||||||||||||||||||||||||||
◦ Interest rate | Hedge fixed rate assets and liabilities | Fair value hedge | Corporate/PE | 229 | |||||||||||||||||||||||||
◦ Interest rate | Hedge floating rate assets and liabilities | Cash flow hedge | Corporate/PE | 230 | |||||||||||||||||||||||||
◦ Foreign exchange | Hedge foreign currency-denominated assets and liabilities | Fair value hedge | Corporate/PE | 229 | |||||||||||||||||||||||||
◦ Foreign exchange | Hedge forecasted revenue and expense | Cash flow hedge | Corporate/PE | 230 | |||||||||||||||||||||||||
◦ Foreign exchange | Hedge the value of the Firm’s investments in non-U.S. subsidiaries | Net investment hedge | Corporate/PE | 231 | |||||||||||||||||||||||||
◦ Commodity | Hedge commodity inventory | Fair value hedge | CIB | 229 | |||||||||||||||||||||||||
Manage specifically identified risk exposures not designated in qualifying hedge accounting relationships: | |||||||||||||||||||||||||||||
◦ Interest rate | Manage the risk of the mortgage pipeline, warehouse loans and MSRs | Specified risk management | CCB | 231 | |||||||||||||||||||||||||
◦ Credit | Manage the credit risk of wholesale lending exposures | Specified risk management | CIB | 231 | |||||||||||||||||||||||||
◦ Credit(a) | Manage the credit risk of certain AFS securities | Specified risk management | Corporate/PE | 231 | |||||||||||||||||||||||||
◦ Commodity | Manage the risk of certain commodities-related contracts and investments | Specified risk management | CIB | 231 | |||||||||||||||||||||||||
◦Interest rate and foreign exchange | Manage the risk of certain other specified assets and liabilities | Specified risk management | Corporate/PE | 231 | |||||||||||||||||||||||||
Market-making derivatives and other activities: | |||||||||||||||||||||||||||||
• Various | Market-making and related risk management | Market-making and other | CIB | 231 | |||||||||||||||||||||||||
• Various(b) | Other derivatives, including the synthetic credit portfolio | Market-making and other | CIB, Corporate/PE | 231 | |||||||||||||||||||||||||
(a) | Includes a limited number of single-name credit derivatives used to mitigate the credit risk arising from specified AFS securities. | ||||||||||||||||||||||||||||
(b) | The synthetic credit portfolio is a portfolio of index credit derivatives, including short and long positions, that was held by CIO. On July 2, 2012, CIO transferred the synthetic credit portfolio, other than a portion that aggregated to a notional amount of approximately $12 billion, to CIB. The positions making up the portion of the synthetic credit portfolio retained by CIO on July 2, 2012, were effectively closed out during the third quarter of 2012. The results of the synthetic credit portfolio, including the portion transferred to CIB, have been included in the gains and losses on derivatives related to market-making activities and other derivatives category discussed on page 231 of this Note. | ||||||||||||||||||||||||||||
Notional amount of derivative contracts | |||||||||||||||||||||||||||||
The following table summarizes the notional amount of derivative contracts outstanding as of December 31, 2013 and 2012. | |||||||||||||||||||||||||||||
Notional amounts(c) | |||||||||||||||||||||||||||||
December 31, (in billions) | 2013 | 2012 | |||||||||||||||||||||||||||
Interest rate contracts(a) | |||||||||||||||||||||||||||||
Swaps | $ | 35,221 | $ | 33,037 | |||||||||||||||||||||||||
Futures and forwards | 11,251 | 11,756 | |||||||||||||||||||||||||||
Written options | 3,991 | 3,860 | |||||||||||||||||||||||||||
Purchased options | 4,187 | 3,909 | |||||||||||||||||||||||||||
Total interest rate contracts | 54,650 | 52,562 | |||||||||||||||||||||||||||
Credit derivatives(b) | 5,386 | 5,981 | |||||||||||||||||||||||||||
Foreign exchange contracts(a) | |||||||||||||||||||||||||||||
Cross-currency swaps | 3,488 | 3,413 | |||||||||||||||||||||||||||
Spot, futures and forwards | 3,773 | 4,005 | |||||||||||||||||||||||||||
Written options | 659 | 651 | |||||||||||||||||||||||||||
Purchased options | 652 | 662 | |||||||||||||||||||||||||||
Total foreign exchange contracts | 8,572 | 8,731 | |||||||||||||||||||||||||||
Equity contracts | |||||||||||||||||||||||||||||
Swaps | 205 | 163 | |||||||||||||||||||||||||||
Futures and forwards(a) | 49 | 38 | |||||||||||||||||||||||||||
Written options(a) | 425 | 441 | |||||||||||||||||||||||||||
Purchased options | 380 | 403 | |||||||||||||||||||||||||||
Total equity contracts | 1,059 | 1,045 | |||||||||||||||||||||||||||
Commodity contracts | |||||||||||||||||||||||||||||
Swaps(a) | 124 | 120 | |||||||||||||||||||||||||||
Spot, futures and forwards(a) | 234 | 367 | |||||||||||||||||||||||||||
Written options | 202 | 262 | |||||||||||||||||||||||||||
Purchased options | 203 | 260 | |||||||||||||||||||||||||||
Total commodity contracts | 763 | 1,009 | |||||||||||||||||||||||||||
Total derivative notional amounts | $ | 70,430 | $ | 69,328 | |||||||||||||||||||||||||
(a) | The prior period amounts have been revised. This revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | ||||||||||||||||||||||||||||
(b) | Primarily consists of credit default swaps. For more information on volumes and types of credit derivative contracts, see the Credit derivatives discussion on pages 231–233 of this Note. | ||||||||||||||||||||||||||||
(c) | Represents the sum of gross long and gross short third-party notional derivative contracts. | ||||||||||||||||||||||||||||
While the notional amounts disclosed above give an indication of the volume of the Firm’s derivatives activity, the notional amounts significantly exceed, in the Firm’s view, the possible losses that could arise from such transactions. For most derivative transactions, the notional amount is not exchanged; it is used simply as a reference to calculate payments. | |||||||||||||||||||||||||||||
Impact of derivatives on the Consolidated Balance Sheets | |||||||||||||||||||||||||||||
The following table summarizes information on derivative receivables and payables (before and after netting adjustments) that are reflected on the Firm’s Consolidated Balance Sheets as of December 31, 2013 and 2012, by accounting designation (e.g., whether the derivatives were designated in qualifying hedge accounting relationships or not) and contract type. | |||||||||||||||||||||||||||||
Free-standing derivative receivables and payables(a) | |||||||||||||||||||||||||||||
Gross derivative receivables | Gross derivative payables | ||||||||||||||||||||||||||||
31-Dec-13 | Not designated as hedges | Designated as hedges | Total derivative receivables | Net derivative receivables(c) | Not designated as hedges | Designated as hedges | Total derivative payables | Net derivative payables(c) | |||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Trading assets and liabilities | |||||||||||||||||||||||||||||
Interest rate | $ | 851,189 | $ | 3,490 | $ | 854,679 | $ | 25,782 | $ | 820,811 | $ | 4,543 | $ | 825,354 | $ | 13,283 | |||||||||||||
Credit | 83,520 | — | 83,520 | 1,516 | 82,402 | — | 82,402 | 2,281 | |||||||||||||||||||||
Foreign exchange | 152,240 | 1,359 | 153,599 | 16,790 | 158,728 | 1,397 | 160,125 | 15,947 | |||||||||||||||||||||
Equity | 52,931 | — | 52,931 | 12,227 | 54,654 | — | 54,654 | 14,719 | |||||||||||||||||||||
Commodity | 34,344 | 1,394 | 35,738 | 9,444 | 37,605 | 9 | 37,614 | 11,084 | |||||||||||||||||||||
Total fair value of trading assets and liabilities | $ | 1,174,224 | $ | 6,243 | $ | 1,180,467 | $ | 65,759 | $ | 1,154,200 | $ | 5,949 | $ | 1,160,149 | $ | 57,314 | |||||||||||||
Gross derivative receivables | Gross derivative payables | ||||||||||||||||||||||||||||
31-Dec-12 | Not designated as hedges | Designated as hedges | Total derivative receivables | Net derivative receivables(c) | Not designated as hedges | Designated as hedges | Total derivative payables | Net derivative payables(c) | |||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Trading assets and liabilities | |||||||||||||||||||||||||||||
Interest rate(b) | $ | 1,296,268 | $ | 6,064 | $ | 1,302,332 | $ | 39,205 | $ | 1,257,654 | $ | 3,120 | $ | 1,260,774 | $ | 24,906 | |||||||||||||
Credit | 100,310 | — | 100,310 | 1,735 | 100,027 | — | 100,027 | 2,504 | |||||||||||||||||||||
Foreign exchange(b) | 145,676 | 1,577 | 147,253 | 14,142 | 158,419 | 2,133 | 160,552 | 18,601 | |||||||||||||||||||||
Equity(b) | 42,679 | — | 42,679 | 9,266 | 44,535 | — | 44,535 | 11,819 | |||||||||||||||||||||
Commodity(b) | 43,185 | 586 | 43,771 | 10,635 | 46,981 | 644 | 47,625 | 12,826 | |||||||||||||||||||||
Total fair value of trading assets and liabilities | $ | 1,628,118 | $ | 8,227 | $ | 1,636,345 | $ | 74,983 | $ | 1,607,616 | $ | 5,897 | $ | 1,613,513 | $ | 70,656 | |||||||||||||
(a) | Balances exclude structured notes for which the fair value option has been elected. See Note 4 on pages 215–218 of this Annual Report for further information. | ||||||||||||||||||||||||||||
(b) | The prior period amounts have been revised. This revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | ||||||||||||||||||||||||||||
(c) | As permitted under U.S. GAAP, the Firm has elected to net derivative receivables and derivative payables and the related cash collateral receivables and payables when a legally enforceable master netting agreement exists. | ||||||||||||||||||||||||||||
The following table presents, as of December 31, 2013 and 2012, the gross and net derivative receivables by contract and settlement type. Derivative receivables have been netted on the Consolidated Balance Sheets against derivative payables to the same counterparty with respect to derivative contracts for which the Firm has obtained an appropriate legal opinion with respect to the master netting agreement. Where such a legal opinion has not been either sought or obtained, the receivables are not eligible under U.S. GAAP for netting against related derivative payables on the Consolidated Balance Sheets, and are shown separately in the table below. | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
December 31, (in millions) | Gross derivative receivables | Amounts netted on the Consolidated balance sheets | Net derivative receivables | Gross derivative receivables | Amounts netted on the Consolidated balance sheets | Net derivative receivables | |||||||||||||||||||||||
U.S. GAAP nettable derivative receivables | |||||||||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||||||
Over–the–counter (“OTC”)(a) | $ | 486,449 | $ | (466,493 | ) | $ | 19,956 | $ | 794,282 | $ | (771,449 | ) | $ | 22,833 | |||||||||||||||
OTC–cleared | 362,426 | (362,404 | ) | 22 | 491,947 | (491,678 | ) | 269 | |||||||||||||||||||||
Exchange traded(b) | — | — | — | — | — | — | |||||||||||||||||||||||
Total interest rate contracts | 848,875 | (828,897 | ) | 19,978 | 1,286,229 | (1,263,127 | ) | 23,102 | |||||||||||||||||||||
Credit contracts: | |||||||||||||||||||||||||||||
OTC | 66,269 | (65,725 | ) | 544 | 90,744 | (90,104 | ) | 640 | |||||||||||||||||||||
OTC–cleared | 16,841 | (16,279 | ) | 562 | 8,471 | (8,471 | ) | — | |||||||||||||||||||||
Total credit contracts | 83,110 | (82,004 | ) | 1,106 | 99,215 | (98,575 | ) | 640 | |||||||||||||||||||||
Foreign exchange contracts: | |||||||||||||||||||||||||||||
OTC(a) | 148,953 | (136,763 | ) | 12,190 | 141,053 | (133,088 | ) | 7,965 | |||||||||||||||||||||
OTC–cleared | 46 | (46 | ) | — | 23 | (23 | ) | — | |||||||||||||||||||||
Exchange traded(b) | — | — | — | — | — | — | |||||||||||||||||||||||
Total foreign exchange contracts | 148,999 | (136,809 | ) | 12,190 | 141,076 | (133,111 | ) | 7,965 | |||||||||||||||||||||
Equity contracts: | |||||||||||||||||||||||||||||
OTC(a) | 31,870 | (29,289 | ) | 2,581 | 26,025 | (24,645 | ) | 1,380 | |||||||||||||||||||||
OTC–cleared | — | — | — | — | — | — | |||||||||||||||||||||||
Exchange traded(b) | 17,732 | (11,415 | ) | 6,317 | 12,841 | (8,768 | ) | 4,073 | |||||||||||||||||||||
Total equity contracts | 49,602 | (40,704 | ) | 8,898 | 38,866 | (33,413 | ) | 5,453 | |||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||||||
OTC(a) | 21,619 | (15,082 | ) | 6,537 | 26,850 | (20,729 | ) | 6,121 | |||||||||||||||||||||
OTC–cleared | — | — | — | — | — | — | |||||||||||||||||||||||
Exchange traded(b) | 12,528 | (11,212 | ) | 1,316 | 15,108 | (12,407 | ) | 2,701 | |||||||||||||||||||||
Total commodity contracts | 34,147 | (26,294 | ) | 7,853 | 41,958 | (33,136 | ) | 8,822 | |||||||||||||||||||||
Derivative receivables with appropriate legal opinion | $ | 1,164,733 | $ | (1,114,708 | ) | (c) | $ | 50,025 | $ | 1,607,344 | $ | (1,561,362 | ) | (c) | $ | 45,982 | |||||||||||||
Derivative receivables where an appropriate legal opinion has not been either sought or obtained | 15,734 | 15,734 | 29,001 | 29,001 | |||||||||||||||||||||||||
Total derivative receivables recognized on the Consolidated Balance Sheets | $ | 1,180,467 | $ | 65,759 | $ | 1,636,345 | $ | 74,983 | |||||||||||||||||||||
(a) | The prior period amounts have been revised. This revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | ||||||||||||||||||||||||||||
(b) | Exchange traded derivative amounts that relate to futures contracts are settled daily. | ||||||||||||||||||||||||||||
(c) | Included netted cash collateral payables of $63.9 billion and $79.2 billion at December 31, 2013, and December 31, 2012, respectively. | ||||||||||||||||||||||||||||
The following table presents, as of December 31, 2013 and 2012, the gross and net derivative payables by contract and settlement type. Derivative payables have been netted on the Consolidated Balance Sheets against derivative receivables to the same counterparty with respect to derivative contracts for which the Firm has obtained an appropriate legal opinion with respect to the master netting agreement. Where such a legal opinion has not been either sought or obtained, the payables are not eligible under U.S. GAAP for netting against related derivative receivables on the Consolidated Balance Sheets, and are shown separately in the table below. | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
December 31, (in millions) | Gross derivative payables | Amounts netted on the Consolidated balance sheets | Net derivative payables | Gross derivative payables | Amounts netted on the Consolidated balance sheets | Net derivative payables | |||||||||||||||||||||||
U.S. GAAP nettable derivative payables | |||||||||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||||||
OTC(a) | $ | 467,850 | $ | (458,081 | ) | $ | 9,769 | $ | 774,824 | $ | (754,105 | ) | $ | 20,719 | |||||||||||||||
OTC–cleared | 354,698 | (353,990 | ) | 708 | 482,018 | (481,763 | ) | 255 | |||||||||||||||||||||
Exchange traded(b) | — | — | — | — | — | — | |||||||||||||||||||||||
Total interest rate contracts | 822,548 | (812,071 | ) | 10,477 | 1,256,842 | (1,235,868 | ) | 20,974 | |||||||||||||||||||||
Credit contracts: | |||||||||||||||||||||||||||||
OTC | 65,223 | (63,671 | ) | 1,552 | 89,170 | (88,151 | ) | 1,019 | |||||||||||||||||||||
OTC–cleared | 16,506 | (16,450 | ) | 56 | 9,372 | (9,372 | ) | — | |||||||||||||||||||||
Total credit contracts | 81,729 | (80,121 | ) | 1,608 | 98,542 | (97,523 | ) | 1,019 | |||||||||||||||||||||
Foreign exchange contracts: | |||||||||||||||||||||||||||||
OTC(a) | 155,110 | (144,119 | ) | 10,991 | 153,181 | (141,928 | ) | 11,253 | |||||||||||||||||||||
OTC–cleared | 61 | (59 | ) | 2 | 29 | (23 | ) | 6 | |||||||||||||||||||||
Exchange traded(b) | — | — | — | — | — | — | |||||||||||||||||||||||
Total foreign exchange contracts | 155,171 | (144,178 | ) | 10,993 | 153,210 | (141,951 | ) | 11,259 | |||||||||||||||||||||
Equity contracts: | |||||||||||||||||||||||||||||
OTC(a) | 33,295 | (28,520 | ) | 4,775 | 28,321 | (23,949 | ) | 4,372 | |||||||||||||||||||||
OTC–cleared | — | — | — | — | — | — | |||||||||||||||||||||||
Exchange traded(b) | 17,349 | (11,415 | ) | 5,934 | 12,000 | (8,767 | ) | 3,233 | |||||||||||||||||||||
Total equity contracts | 50,644 | (39,935 | ) | 10,709 | 40,321 | (32,716 | ) | 7,605 | |||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||||||
OTC(a) | 21,993 | (15,318 | ) | 6,675 | 28,744 | (22,392 | ) | 6,352 | |||||||||||||||||||||
OTC–cleared | — | — | — | — | — | — | |||||||||||||||||||||||
Exchange traded(b) | 12,367 | (11,212 | ) | 1,155 | 14,488 | (12,407 | ) | 2,081 | |||||||||||||||||||||
Total commodity contracts | 34,360 | (26,530 | ) | 7,830 | 43,232 | (34,799 | ) | 8,433 | |||||||||||||||||||||
Derivative payables with appropriate legal opinions | $ | 1,144,452 | $ | (1,102,835 | ) | (c) | $ | 41,617 | $ | 1,592,147 | $ | (1,542,857 | ) | (c) | $ | 49,290 | |||||||||||||
Derivative payables where an appropriate legal opinion has not been either sought or obtained | 15,697 | 15,697 | 21,366 | 21,366 | |||||||||||||||||||||||||
Total derivative payables recognized on the Consolidated Balance Sheets | $ | 1,160,149 | $ | 57,314 | $ | 1,613,513 | $ | 70,656 | |||||||||||||||||||||
(a) | The prior period amounts have been revised. This revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | ||||||||||||||||||||||||||||
(b) | Exchange traded derivative balances that relate to futures contracts are settled daily. | ||||||||||||||||||||||||||||
(c) | Included netted cash collateral receivables of $52.1 billion and $60.7 billion related to OTC and OTC-cleared derivatives at December 31, 2013, and December 31, 2012, respectively. | ||||||||||||||||||||||||||||
In addition to the cash collateral received and transferred that is presented on a net basis with net derivative receivables and payables, the Firm receives and transfers additional collateral (financial instruments and cash). These amounts mitigate counterparty credit risk associated with the Firm’s derivative instruments but are not eligible for net presentation, because (a) the collateral is non-cash financial instruments (generally U.S. government and agency securities and other G7 government bonds), (b) the amount of collateral held or transferred exceeds the fair value exposure, at the individual counterparty level, as of the date presented, or (c) the collateral relates to derivative receivables or payables where an appropriate legal opinion has not been either sought or obtained. | |||||||||||||||||||||||||||||
The following tables present information regarding certain financial instrument collateral received and transferred as of December 31, 2013 and 2012, that is not eligible for net presentation under U.S. GAAP. The collateral included in these tables relates only to the derivative instruments for which appropriate legal opinions have been obtained; excluded are (i) additional collateral that exceeds the fair value exposure and (ii) all collateral related to derivative instruments where an appropriate legal opinion has not been either sought or obtained. | |||||||||||||||||||||||||||||
Derivative receivable collateral | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
December 31, (in millions) | Net derivative receivables | Collateral not nettable on the Consolidated balance sheets | Net exposure | Net derivative receivables | Collateral not nettable on the Consolidated balance sheets | Net exposure | |||||||||||||||||||||||
Derivative receivables with appropriate legal opinions | $ | 50,025 | $ | (12,414 | ) | (a) | $ | 37,611 | $ | 45,982 | $ | (11,350 | ) | (a) | $ | 34,632 | |||||||||||||
Derivative payable collateral(b) | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
December 31, (in millions) | Net derivative payables | Collateral not nettable on the Consolidated balance sheets | Net amount(c) | Net derivative payables | Collateral not nettable on the Consolidated balance sheets | Net amount(c) | |||||||||||||||||||||||
Derivative payables with appropriate legal opinions | $ | 41,617 | $ | (6,873 | ) | (a) | $ | 34,744 | $ | 49,290 | $ | (20,109 | ) | (a) | $ | 29,181 | |||||||||||||
(a) | Represents liquid security collateral as well as cash collateral held at third party custodians. For some counterparties, the collateral amounts of financial instruments may exceed the derivative receivables and derivative payables balances. Where this is the case, the total amount reported is limited to the net derivative receivables and net derivative payables balances with that counterparty. | ||||||||||||||||||||||||||||
(b) | Derivative payable collateral relates only to OTC and OTC-cleared derivative instruments. Amounts exclude collateral transferred related to exchange-traded derivative instruments. | ||||||||||||||||||||||||||||
(c) | Net amount represents exposure of counterparties to the Firm. | ||||||||||||||||||||||||||||
Liquidity risk and credit-related contingent features | |||||||||||||||||||||||||||||
In addition to the specific market risks introduced by each derivative contract type, derivatives expose JPMorgan Chase to credit risk — the risk that derivative counterparties may fail to meet their payment obligations under the derivative contracts and the collateral, if any, held by the Firm proves to be of insufficient value to cover the payment obligation. It is the policy of JPMorgan Chase to actively pursue, where possible, the use of legally enforceable master netting arrangements and collateral agreements to mitigate derivative counterparty credit risk. The amount of derivative receivables reported on the Consolidated Balance Sheets is the fair value of the derivative contracts after giving effect to legally enforceable master netting agreements and cash collateral held by the Firm. | |||||||||||||||||||||||||||||
While derivative receivables expose the Firm to credit risk, derivative payables expose the Firm to liquidity risk, as the derivative contracts typically require the Firm to post cash or securities collateral with counterparties as the fair value of the contracts moves in the counterparties’ favor or upon specified downgrades in the Firm’s and its subsidiaries’ respective credit ratings. Certain derivative contracts also provide for termination of the contract, generally upon a downgrade of either the Firm or the counterparty, at the fair value of the derivative contracts. The following table shows the aggregate fair value of net derivative payables related to OTC and OTC-cleared derivatives that contain contingent collateral or termination features that may be triggered upon a ratings downgrade, and the associated collateral the Firm has posted in the normal course of business, at December 31, 2013 and 2012. | |||||||||||||||||||||||||||||
OTC and OTC-cleared derivative payables containing downgrade triggers | |||||||||||||||||||||||||||||
December 31, (in millions) | 2013 | 2012 | |||||||||||||||||||||||||||
Aggregate fair value of net derivative payables | $ | 24,631 | $ | 40,844 | |||||||||||||||||||||||||
Collateral posted | 20,346 | 34,414 | |||||||||||||||||||||||||||
The following table shows the impact of a single-notch and two-notch downgrade of the long-term issuer ratings of JPMorgan Chase & Co. and its subsidiaries, predominantly JPMorgan Chase Bank, National Association (“JPMorgan Chase Bank, N.A.”), at December 31, 2013 and 2012, related to OTC and OTC-cleared derivative contracts with contingent collateral or termination features that may be triggered upon a ratings downgrade. Derivatives contracts generally require additional collateral to be posted or terminations to be triggered when the predefined threshold rating is breached. A downgrade by a single rating agency that does not result in a rating lower than a preexisting corresponding rating provided by another major rating agency will generally not result in additional collateral, except in certain instances in which additional initial margin may be required upon a ratings downgrade, or termination payment requirements. The liquidity impact in the table is calculated based upon a downgrade below the lowest current rating of the rating agencies referred to in the derivative contract. | |||||||||||||||||||||||||||||
Liquidity impact of downgrade triggers on OTC and | |||||||||||||||||||||||||||||
OTC-cleared derivatives | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
December 31, (in millions) | Single-notch downgrade | Two-notch downgrade | Single-notch downgrade | Two-notch downgrade | |||||||||||||||||||||||||
Amount of additional collateral to be posted upon downgrade(a) | $ | 952 | $ | 3,244 | $ | 1,234 | $ | 4,090 | |||||||||||||||||||||
Amount required to settle contracts with termination triggers upon downgrade(b) | 540 | 876 | 857 | 1,270 | |||||||||||||||||||||||||
(a) | Includes the additional collateral to be posted for initial margin. Prior period amounts have been revised to conform with the current presentation. | ||||||||||||||||||||||||||||
(b) | Amounts represent fair value of derivative payables, and do not reflect collateral posted. | ||||||||||||||||||||||||||||
Impact of derivatives on the Consolidated Statements of Income | |||||||||||||||||||||||||||||
The following tables provide information related to gains and losses recorded on derivatives based on their hedge accounting | |||||||||||||||||||||||||||||
designation or purpose. | |||||||||||||||||||||||||||||
Fair value hedge gains and losses | |||||||||||||||||||||||||||||
The following tables present derivative instruments, by contract type, used in fair value hedge accounting relationships, as well as pretax gains/(losses) recorded on such derivatives and the related hedged items for the years ended December 31, 2013, 2012 and 2011, respectively. The Firm includes gains/(losses) on the hedging derivative and the related hedged item in the same line item in the Consolidated Statements of Income. | |||||||||||||||||||||||||||||
Gains/(losses) recorded in income | Income statement impact due to: | ||||||||||||||||||||||||||||
Year ended December 31, 2013 (in millions) | Derivatives | Hedged items | Total income statement impact | Hedge ineffectiveness(e) | Excluded components(f) | ||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (3,469 | ) | $ | 4,851 | $ | 1,382 | $ | (132 | ) | $ | 1,514 | |||||||||||||||||
Foreign exchange(b) | (1,096 | ) | (d) | 864 | (232 | ) | — | (232 | ) | ||||||||||||||||||||
Commodity(c) | 485 | (1,304 | ) | (819 | ) | 38 | (857 | ) | |||||||||||||||||||||
Total | $ | (4,080 | ) | $ | 4,411 | $ | 331 | $ | (94 | ) | $ | 425 | |||||||||||||||||
Gains/(losses) recorded in income | Income statement impact due to: | ||||||||||||||||||||||||||||
Year ended December 31, 2012 (in millions) | Derivatives | Hedged items | Total income statement impact | Hedge ineffectiveness(e) | Excluded components(f) | ||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (1,238 | ) | $ | 1,879 | $ | 641 | $ | (28 | ) | $ | 669 | |||||||||||||||||
Foreign exchange(b) | (3,027 | ) | (d) | 2,925 | (102 | ) | — | (102 | ) | ||||||||||||||||||||
Commodity(c) | (2,530 | ) | 1,131 | (1,399 | ) | 107 | (1,506 | ) | |||||||||||||||||||||
Total | $ | (6,795 | ) | $ | 5,935 | $ | (860 | ) | $ | 79 | $ | (939 | ) | ||||||||||||||||
Gains/(losses) recorded in income | Income statement impact due to: | ||||||||||||||||||||||||||||
Year ended December 31, 2011 (in millions) | Derivatives | Hedged items | Total income statement impact | Hedge ineffectiveness(e) | Excluded components(f) | ||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | 532 | $ | 33 | $ | 565 | $ | 104 | $ | 461 | |||||||||||||||||||
Foreign exchange(b) | 5,684 | (d) | (3,761 | ) | 1,923 | — | 1,923 | ||||||||||||||||||||||
Commodity(c) | 1,784 | (2,880 | ) | (1,096 | ) | (10 | ) | (1,086 | ) | ||||||||||||||||||||
Total | $ | 8,000 | $ | (6,608 | ) | $ | 1,392 | $ | 94 | $ | 1,298 | ||||||||||||||||||
(a) | Primarily consists of hedges of the benchmark (e.g., London Interbank Offered Rate (“LIBOR”)) interest rate risk of fixed-rate long-term debt and AFS securities. Gains and losses were recorded in net interest income. The current presentation excludes accrued interest. | ||||||||||||||||||||||||||||
(b) | Primarily consists of hedges of the foreign currency risk of long-term debt and AFS securities for changes in spot foreign currency rates. Gains and losses related to the derivatives and the hedged items, due to changes in foreign currency rates, were recorded in principal transactions revenue and net interest income. | ||||||||||||||||||||||||||||
(c) | Consists of overall fair value hedges of physical commodities inventories that are generally carried at the lower of cost or market (market approximates fair value). Gains and losses were recorded in principal transactions revenue. | ||||||||||||||||||||||||||||
(d) | Included $(556) million, $(3.1) billion and $4.9 billion for the years ended December 31, 2013, 2012 and 2011, respectively, of revenue related to certain foreign exchange trading derivatives designated as fair value hedging instruments. | ||||||||||||||||||||||||||||
(e) | Hedge ineffectiveness is the amount by which the gain or loss on the designated derivative instrument does not exactly offset the gain or loss on the hedged item attributable to the hedged risk. | ||||||||||||||||||||||||||||
(f) | The assessment of hedge effectiveness excludes certain components of the changes in fair values of the derivatives and hedged items such as forward points on foreign exchange forward contracts and time values. | ||||||||||||||||||||||||||||
Cash flow hedge gains and losses | |||||||||||||||||||||||||||||
The following tables present derivative instruments, by contract type, used in cash flow hedge accounting relationships, and the pretax gains/(losses) recorded on such derivatives, for the years ended December 31, 2013, 2012 and 2011, respectively. The Firm includes the gain/(loss) on the hedging derivative and the change in cash flows on the hedged item in the same line item in the Consolidated Statements of Income. | |||||||||||||||||||||||||||||
Gains/(losses) recorded in income and other comprehensive income/(loss)(c) | |||||||||||||||||||||||||||||
Year ended December 31, 2013 | Derivatives – effective portion reclassified from AOCI to income | Hedge ineffectiveness recorded directly in income(d) | Total income statement impact | Derivatives – effective portion recorded in OCI | Total change | ||||||||||||||||||||||||
(in millions) | in OCI | ||||||||||||||||||||||||||||
for period | |||||||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (108 | ) | $ | — | $ | (108 | ) | $ | (565 | ) | $ | (457 | ) | |||||||||||||||
Foreign exchange(b) | 7 | — | 7 | 40 | 33 | ||||||||||||||||||||||||
Total | $ | (101 | ) | $ | — | $ | (101 | ) | $ | (525 | ) | $ | (424 | ) | |||||||||||||||
Gains/(losses) recorded in income and other comprehensive income/(loss)(c) | |||||||||||||||||||||||||||||
Year ended December 31, 2012 | Derivatives – effective portion reclassified from AOCI to income | Hedge ineffectiveness recorded directly in income(d) | Total income statement impact | Derivatives – effective portion recorded in OCI | Total change | ||||||||||||||||||||||||
(in millions) | in OCI | ||||||||||||||||||||||||||||
for period | |||||||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (3 | ) | $ | 5 | $ | 2 | $ | 13 | $ | 16 | ||||||||||||||||||
Foreign exchange(b) | 31 | — | 31 | 128 | 97 | ||||||||||||||||||||||||
Total | $ | 28 | $ | 5 | $ | 33 | $ | 141 | $ | 113 | |||||||||||||||||||
Gains/(losses) recorded in income and other comprehensive income/(loss)(c) | |||||||||||||||||||||||||||||
Year ended December 31, 2011 | Derivatives – effective portion reclassified from AOCI to income | Hedge ineffectiveness recorded directly in income(d) | Total income statement impact | Derivatives – effective portion recorded in OCI | Total change | ||||||||||||||||||||||||
(in millions) | in OCI | ||||||||||||||||||||||||||||
for period | |||||||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | 310 | $ | 19 | $ | 329 | $ | 107 | $ | (203 | ) | ||||||||||||||||||
Foreign exchange(b) | (9 | ) | — | (9 | ) | (57 | ) | (48 | ) | ||||||||||||||||||||
Total | $ | 301 | $ | 19 | $ | 320 | $ | 50 | $ | (251 | ) | ||||||||||||||||||
(a) | Primarily consists of benchmark interest rate hedges of LIBOR-indexed floating-rate assets and floating-rate liabilities. Gains and losses were recorded in net interest income. | ||||||||||||||||||||||||||||
(b) | Primarily consists of hedges of the foreign currency risk of non-U.S. dollar-denominated revenue and expense. The income statement classification of gains and losses follows the hedged item – primarily noninterest revenue and compensation expense. | ||||||||||||||||||||||||||||
(c) | The Firm did not experience any forecasted transactions that failed to occur for the years ended December 31, 2013, 2012 or 2011. | ||||||||||||||||||||||||||||
(d) | Hedge ineffectiveness is the amount by which the cumulative gain or loss on the designated derivative instrument exceeds the present value of the cumulative expected change in cash flows on the hedged item attributable to the hedged risk. | ||||||||||||||||||||||||||||
Over the next 12 months, the Firm expects that $4.6 million (after-tax) of net losses recorded in AOCI at December 31, 2013, related to cash flow hedges will be recognized in income. The maximum length of time over which forecasted transactions are hedged is 10 years, and such transactions primarily relate to core lending and borrowing activities. | |||||||||||||||||||||||||||||
Net investment hedge gains and losses | |||||||||||||||||||||||||||||
The following tables present hedging instruments, by contract type, that were used in net investment hedge accounting relationships, and the pretax gains/(losses) recorded on such instruments for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||||||||||||||||||
Gains/(losses) recorded in income and other comprehensive income/(loss) | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||
Year ended December 31, | Excluded components recorded directly in income(a) | Effective portion recorded in OCI | Excluded components recorded directly in income(a) | Effective portion recorded in OCI | Excluded components recorded directly in income(a) | Effective portion recorded in OCI | |||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Foreign exchange derivatives | $ | (383 | ) | $ | 773 | $ | (306 | ) | $ | (82 | ) | $ | (251 | ) | $ | 225 | |||||||||||||
Foreign currency denominated debt | — | — | — | — | — | 1 | |||||||||||||||||||||||
Total | $ | (383 | ) | $ | 773 | $ | (306 | ) | $ | (82 | ) | $ | (251 | ) | $ | 226 | |||||||||||||
(a) | Certain components of hedging derivatives are permitted to be excluded from the assessment of hedge effectiveness, such as forward points on foreign exchange forward contracts. Amounts related to excluded components are recorded in current-period income. The Firm measures the ineffectiveness of net investment hedge accounting relationships based on changes in spot foreign currency rates, and therefore there was no ineffectiveness for net investment hedge accounting relationships during 2013, 2012 and 2011. | ||||||||||||||||||||||||||||
Gains and losses on derivatives used for specified risk management purposes | |||||||||||||||||||||||||||||
The following table presents pretax gains/(losses) recorded on a limited number of derivatives, not designated in hedge accounting relationships, that are used to manage risks associated with certain specified assets and liabilities, including certain risks arising from the mortgage pipeline, warehouse loans, MSRs, wholesale lending exposures, AFS securities, foreign currency-denominated liabilities, and commodities-related contracts and investments. | |||||||||||||||||||||||||||||
Derivatives gains/(losses) | |||||||||||||||||||||||||||||
recorded in income | |||||||||||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | 617 | $ | 5,353 | $ | 8,084 | |||||||||||||||||||||||
Credit(b) | (142 | ) | (175 | ) | (52 | ) | |||||||||||||||||||||||
Foreign exchange(c) | 1 | 47 | (157 | ) | |||||||||||||||||||||||||
Commodity(d) | 178 | 94 | 41 | ||||||||||||||||||||||||||
Total | $ | 654 | $ | 5,319 | $ | 7,916 | |||||||||||||||||||||||
(a) | Primarily relates to interest rate derivatives used to hedge the interest rate risks associated with the mortgage pipeline, warehouse loans and MSRs. Gains and losses were recorded predominantly in mortgage fees and related income. | ||||||||||||||||||||||||||||
(b) | Relates to credit derivatives used to mitigate credit risk associated with lending exposures in the Firm’s wholesale businesses, and single-name credit derivatives used to mitigate credit risk arising from certain AFS securities. These derivatives do not include the synthetic credit portfolio or credit derivatives used to mitigate counterparty credit risk arising from derivative receivables, both of which are included in gains and losses on derivatives related to market-making activities and other derivatives. Gains and losses were recorded in principal transactions revenue. | ||||||||||||||||||||||||||||
(c) | Primarily relates to hedges of the foreign exchange risk of specified foreign currency-denominated liabilities. Gains and losses were recorded in principal transactions revenue and net interest income. | ||||||||||||||||||||||||||||
(d) | Primarily relates to commodity derivatives used to mitigate energy price risk associated with energy-related contracts and investments. Gains and losses were recorded in principal transactions revenue. | ||||||||||||||||||||||||||||
Gains and losses on derivatives related to market-making activities and other derivatives | |||||||||||||||||||||||||||||
The Firm makes markets in derivatives in order to meet the needs of customers and uses derivatives to manage certain risks associated with net open risk positions from the Firm’s market-making activities, including the counterparty credit risk arising from derivative receivables. These derivatives, as well as all other derivatives (including the synthetic credit portfolio ) that are not included in the hedge accounting or specified risk management categories above, are included in this category. Gains and losses on these derivatives are primarily recorded in principal transactions revenue. See Note 7 on pages 234–235 of this Annual Report for information on principal transactions revenue. | |||||||||||||||||||||||||||||
Credit derivatives | |||||||||||||||||||||||||||||
Credit derivatives are financial instruments whose value is derived from the credit risk associated with the debt of a third-party issuer (the reference entity) and which allow one party (the protection purchaser) to transfer that risk to another party (the protection seller). Credit derivatives expose the protection purchaser to the creditworthiness of the protection seller, as the protection seller is required to make payments under the contract when the reference entity experiences a credit event, such as a bankruptcy, a failure to pay its obligation or a restructuring. The seller of credit protection receives a premium for providing protection but has the risk that the underlying instrument referenced in the contract will be subject to a credit event. | |||||||||||||||||||||||||||||
The Firm is both a purchaser and seller of protection in the credit derivatives market and uses these derivatives for two primary purposes. First, in its capacity as a market-maker, the Firm actively manages a portfolio of credit derivatives by purchasing and selling credit protection, predominantly on corporate debt obligations, to meet the needs of customers. Second, as an end-user, the Firm uses credit derivatives to manage credit risk associated with lending exposures (loans and unfunded commitments) and derivatives counterparty exposures in the Firm’s wholesale businesses, and to manage the credit risk arising from certain AFS securities and from certain financial instruments in the Firm’s market-making businesses. For more information on the synthetic credit portfolio, see the discussion on page 222 of this Note. Following is a summary of various types of credit derivatives. | |||||||||||||||||||||||||||||
Credit default swaps | |||||||||||||||||||||||||||||
Credit derivatives may reference the credit of either a single reference entity (“single-name”) or a broad-based index. The Firm purchases and sells protection on both single- name and index-reference obligations. Single-name CDS and index CDS contracts are typically OTC-cleared derivative contracts. Single-name CDS are used to manage the default risk of a single reference entity, while index CDS contracts are used to manage the credit risk associated with the broader credit markets or credit market segments. Like the S&P 500 and other market indices, a CDS index comprises a portfolio of CDS across many reference entities. New series of CDS indices are periodically established with a new underlying portfolio of reference entities to reflect changes in the credit markets. If one of the reference entities in the index experiences a credit event, then the reference entity that defaulted is removed from the index. CDS can also be referenced against specific portfolios of reference names or against customized exposure levels based on specific client demands: for example, to provide protection against the first $1 million of realized credit losses in a $10 million portfolio of exposure. Such structures are commonly known as tranche CDS. | |||||||||||||||||||||||||||||
For both single-name CDS contracts and index CDS contracts, upon the occurrence of a credit event, under the terms of a CDS contract neither party to the CDS contract has recourse to the reference entity. The protection purchaser has recourse to the protection seller for the difference between the face value of the CDS contract and the fair value of the reference obligation at settlement of the credit derivative contract, also known as the recovery value. The protection purchaser does not need to hold the debt instrument of the underlying reference entity in order to receive amounts due under the CDS contract when a credit event occurs. | |||||||||||||||||||||||||||||
Credit-related notes | |||||||||||||||||||||||||||||
A credit-related note is a funded credit derivative where the issuer of the credit-related note purchases from the note investor credit protection on a reference entity or an index. Under the contract, the investor pays the issuer the par value of the note at the inception of the transaction, and in return, the issuer pays periodic payments to the investor, based on the credit risk of the referenced entity. The issuer also repays the investor the par value of the note at maturity unless the reference entity experiences a specified credit event (or one of the entities that makes up a reference index). If a credit event occurs, the issuer is not obligated to repay the par value of the note, but rather, the issuer pays the investor the difference between the par value of the note and the fair value of the defaulted reference obligation at the time of settlement. Neither party to the credit-related note has recourse to the defaulting reference entity. For a further discussion of credit-related notes, see Note 16 on pages 288–299 of this Annual Report. | |||||||||||||||||||||||||||||
The following tables present a summary of the notional amounts of credit derivatives and credit-related notes the Firm sold and purchased as of December 31, 2013 and 2012. Upon a credit event, the Firm as a seller of protection would typically pay out only a percentage of the full notional amount of net protection sold, as the amount actually required to be paid on the contracts takes into account the recovery value of the reference obligation at the time of settlement. The Firm manages the credit risk on contracts to sell protection by purchasing protection with identical or similar underlying reference entities. Other purchased protection referenced in the following tables includes credit derivatives bought on related, but not identical, reference positions (including indices, portfolio coverage and other reference points) as well as protection purchased through credit-related notes. | |||||||||||||||||||||||||||||
The Firm does not use notional amounts of credit derivatives as the primary measure of risk management for such derivatives, because the notional amount does not take into account the probability of the occurrence of a credit event, the recovery value of the reference obligation, or related cash instruments and economic hedges, each of which reduces, in the Firm’s view, the risks associated with such derivatives. | |||||||||||||||||||||||||||||
Total credit derivatives and credit-related notes | |||||||||||||||||||||||||||||
Maximum payout/Notional amount | |||||||||||||||||||||||||||||
Protection sold | Protection purchased with identical underlyings(b) | Net protection (sold)/purchased(c) | Other protection purchased(d) | ||||||||||||||||||||||||||
December 31, 2013 (in millions) | |||||||||||||||||||||||||||||
Credit derivatives | |||||||||||||||||||||||||||||
Credit default swaps | $ | (2,601,581 | ) | $ | 2,610,198 | $ | 8,617 | $ | 8,722 | ||||||||||||||||||||
Other credit derivatives(a) | (95,094 | ) | 45,921 | (49,173 | ) | 24,192 | |||||||||||||||||||||||
Total credit derivatives | (2,696,675 | ) | 2,656,119 | (40,556 | ) | 32,914 | |||||||||||||||||||||||
Credit-related notes | (130 | ) | — | (130 | ) | 2,720 | |||||||||||||||||||||||
Total | $ | (2,696,805 | ) | $ | 2,656,119 | $ | (40,686 | ) | $ | 35,634 | |||||||||||||||||||
Maximum payout/Notional amount | |||||||||||||||||||||||||||||
Protection sold | Protection purchased with identical underlyings(b) | Net protection (sold)/purchased(c) | Other protection purchased(d) | ||||||||||||||||||||||||||
December 31, 2012 (in millions) | |||||||||||||||||||||||||||||
Credit derivatives | |||||||||||||||||||||||||||||
Credit default swaps | $ | (2,954,705 | ) | $ | 2,879,105 | $ | (75,600 | ) | $ | 42,460 | |||||||||||||||||||
Other credit derivatives(a) | (66,244 | ) | 5,649 | (60,595 | ) | 33,174 | |||||||||||||||||||||||
Total credit derivatives | (3,020,949 | ) | 2,884,754 | (136,195 | ) | 75,634 | |||||||||||||||||||||||
Credit-related notes | (233 | ) | — | (233 | ) | 3,255 | |||||||||||||||||||||||
Total | $ | (3,021,182 | ) | $ | 2,884,754 | $ | (136,428 | ) | $ | 78,889 | |||||||||||||||||||
(a) | Other credit derivatives predominantly consists of put options on fixed income portfolios. | ||||||||||||||||||||||||||||
(b) | Represents the total notional amount of protection purchased where the underlying reference instrument is identical to the reference instrument on protection sold; the notional amount of protection purchased for each individual identical underlying reference instrument may be greater or lower than the notional amount of protection sold. | ||||||||||||||||||||||||||||
(c) | Does not take into account the fair value of the reference obligation at the time of settlement, which would generally reduce the amount the seller of protection pays to the buyer of protection in determining settlement value. | ||||||||||||||||||||||||||||
(d) | Represents protection purchased by the Firm on referenced instruments (single-name, portfolio or index) where the Firm has not sold any protection on the identical reference instrument. | ||||||||||||||||||||||||||||
The following tables summarize the notional and fair value amounts of credit derivatives and credit-related notes as of December 31, 2013 and 2012, where JPMorgan Chase is the seller of protection. The maturity profile is based on the remaining contractual maturity of the credit derivative contracts. The ratings profile is based on the rating of the reference entity on which the credit derivative contract is based. The ratings and maturity profile of credit derivatives and credit-related notes where JPMorgan Chase is the purchaser of protection are comparable to the profile reflected below. | |||||||||||||||||||||||||||||
Protection sold – credit derivatives and credit-related notes ratings(a)/maturity profile | |||||||||||||||||||||||||||||
December 31, 2013 (in millions) | <1 year | 1–5 years | >5 years | Total | Fair value of receivables(b) | Fair value of payables(b) | Net fair value | ||||||||||||||||||||||
notional amount | |||||||||||||||||||||||||||||
Risk rating of reference entity | |||||||||||||||||||||||||||||
Investment-grade | $ | (365,660 | ) | $ | (1,486,394 | ) | $ | (130,597 | ) | $ | (1,982,651 | ) | $ | 31,727 | $ | (5,629 | ) | $ | 26,098 | ||||||||||
Noninvestment-grade | (140,540 | ) | (544,671 | ) | (28,943 | ) | (714,154 | ) | 27,426 | (16,674 | ) | 10,752 | |||||||||||||||||
Total | $ | (506,200 | ) | $ | (2,031,065 | ) | $ | (159,540 | ) | $ | (2,696,805 | ) | $ | 59,153 | $ | (22,303 | ) | $ | 36,850 | ||||||||||
December 31, 2012 (in millions) | <1 year | 1–5 years | >5 years | Total | Fair value of receivables(b) | Fair value of payables(b) | Net fair value | ||||||||||||||||||||||
notional amount | |||||||||||||||||||||||||||||
Risk rating of reference entity | |||||||||||||||||||||||||||||
Investment-grade | $ | (409,748 | ) | $ | (1,383,644 | ) | $ | (224,001 | ) | $ | (2,017,393 | ) | $ | 16,690 | $ | (22,393 | ) | $ | (5,703 | ) | |||||||||
Noninvestment-grade | (214,949 | ) | (722,115 | ) | (66,725 | ) | (1,003,789 | ) | 22,355 | (36,815 | ) | (14,460 | ) | ||||||||||||||||
Total | $ | (624,697 | ) | $ | (2,105,759 | ) | $ | (290,726 | ) | $ | (3,021,182 | ) | $ | 39,045 | $ | (59,208 | ) | $ | (20,163 | ) | |||||||||
(a) | The ratings scale is based on the Firm’s internal ratings, which generally correspond to ratings as defined by S&P and Moody’s. | ||||||||||||||||||||||||||||
(b) | Amounts are shown on a gross basis, before the benefit of legally enforceable master netting agreements and cash collateral received by the Firm. |
Noninterest_Revenue
Noninterest Revenue | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Noninterest Income [Abstract] | ' | |||||||||||
Noninterest revenue | ' | |||||||||||
Noninterest revenue | ||||||||||||
Investment banking fees | ||||||||||||
This revenue category includes equity and debt underwriting and advisory fees. Underwriting fees are recognized as revenue when the Firm has rendered all services to the issuer and is entitled to collect the fee from the issuer, as long as there are no other contingencies associated with the fee. Underwriting fees are net of syndicate expense; the Firm recognizes credit arrangement and syndication fees as revenue after satisfying certain retention, timing and yield criteria. Advisory fees are recognized as revenue when the related services have been performed and the fee has been earned. | ||||||||||||
The following table presents the components of investment banking fees. | ||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||
(in millions) | ||||||||||||
Underwriting | ||||||||||||
Equity | $ | 1,499 | $ | 1,026 | $ | 1,181 | ||||||
Debt | 3,537 | 3,290 | 2,934 | |||||||||
Total underwriting | 5,036 | 4,316 | 4,115 | |||||||||
Advisory | 1,318 | 1,492 | 1,796 | |||||||||
Total investment banking fees | $ | 6,354 | $ | 5,808 | $ | 5,911 | ||||||
Principal transactions | ||||||||||||
Principal transactions revenue includes realized and unrealized gains and losses recorded on derivatives, other financial instruments, and private equity investments. | ||||||||||||
Principal transactions revenue also includes certain realized and unrealized gains and losses related to hedge accounting and specified risk management activities disclosed separately in Note 6, including: (a) certain derivatives designated in qualifying hedge accounting relationships (primarily fair value hedges of commodity and foreign exchange risk), (b) certain derivatives used for specific risk management purposes, primarily to mitigate credit risk, foreign exchange risk and commodity risk, and (c) other derivatives, including the synthetic credit portfolio. See Note 6 on pages 220–233 of this Form Annual Report for information on the income statement classification of gains and losses on derivatives. | ||||||||||||
Principal transactions revenue also includes revenue associated with market-making and client-driven activities that involve physical commodities. The Firm, through its Global Commodities Group within CIB (“Commodities Group”) generally provides risk management, investment and financing solutions to clients globally both through financial derivatives transactions, as well as through physical commodities transactions. On the financial side, the Commodities Group engages in OTC derivatives transactions (e.g., swaps, forwards, options) and exchange-traded derivatives referencing various types of commodities (see below and Note 6 – Derivative instruments for further information). On the physical side, the Commodities Group engages in the purchase, sale, transport, and storage of power, gas, liquefied natural gas, coal, crude oil, refined products, precious and base metals among others. Realized gains and losses and unrealized losses arising from market-making and client-driven activities involving physical commodities inventories that are generally carried at the lower of cost or market (market approximates fair value), subject to any applicable fair value hedge accounting adjustments, are recorded in principal transactions revenue. Fees relating to storage and transportation are recorded in other income. These fees are generally recognized over the arrangement period. Expenses relating to such activities are recorded in other expense (see Note 11 on page 249 of this Annual Report for further information). Additional information on the physical commodities business can be found in Note 2 – Business Changes and Developments on pages 192–194 of this Annual Report. | ||||||||||||
The following table presents principal transactions revenue by major underlying type of risk exposures. This table does not include other types of revenue, such as net interest income on trading assets, which are an integral part of the overall performance of the Firm’s client-driven market-making activities. | ||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||
(in millions) | ||||||||||||
Trading revenue by risk exposure | ||||||||||||
Interest rate(a) | $ | 776 | $ | 3,922 | $ | (873 | ) | |||||
Credit(b) | 2,424 | (5,460 | ) | 3,393 | ||||||||
Foreign exchange | 1,540 | 1,436 | 1,154 | |||||||||
Equity | 2,526 | 2,504 | 2,401 | |||||||||
Commodity(c) | 2,073 | 2,363 | 2,823 | |||||||||
Total trading revenue(d)(e) | 9,339 | 4,765 | 8,898 | |||||||||
Private equity gains(f) | 802 | 771 | 1,107 | |||||||||
Principal transactions | $ | 10,141 | $ | 5,536 | $ | 10,005 | ||||||
(a) | Includes a pretax gain of $665 million for the year ended December 31, 2012, reflecting the recovery on a Bear Stearns-related subordinated loan. | |||||||||||
(b) | Includes $5.8 billion of losses incurred by CIO from the synthetic credit portfolio for the six months ended June 30, 2012, and $449 million of losses incurred by CIO from the retained index credit derivative positions for the three months ended September 30, 2012; and losses incurred by CIB from the synthetic credit portfolio. | |||||||||||
(c) | Includes realized gains and losses and unrealized losses on physical commodities inventories that are generally carried at the lower of cost or market (market approximates fair value), subject to any applicable fair value hedge accounting adjustments, and gains and losses on commodity derivatives and other financial instruments that are carried at fair value through income. Commodity derivatives are frequently used to manage the Firm’s risk exposure to its physical commodities inventories. Gains/(losses) related to commodity fair value hedges were $(819) million, $(1.4) billion and $(1.1) billion for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||
(d) | Principal transactions revenue included DVA related to structured notes and derivative liabilities measured at fair value in CIB. DVA gains/(losses) were $(452) million, $(930) million, and $1.4 billion for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||
(e) | During the fourth quarter of 2013, the Firm implemented a funding valuation adjustment (“FVA”) framework in order to incorporate the impact of funding into its valuation estimates for over-the-counter (“OTC”) derivatives and structured notes. As a result the Firm recorded a $1.5 billion loss in principal transactions revenue in the fourth quarter of 2013, reported in the CIB. This reflects an industry migration towards incorporating the cost of unsecured funding in the valuation of such instruments. | |||||||||||
(f) | Includes revenue on private equity investments held in the Private Equity business within Corporate/Private Equity, as well as those held in other business segments. | |||||||||||
Lending- and deposit-related fees | ||||||||||||
This revenue category includes fees from loan commitments, standby letters of credit, financial guarantees, deposit-related fees in lieu of compensating balances, cash management-related activities or transactions, deposit accounts and other loan-servicing activities. These fees are recognized over the period in which the related service is provided. | ||||||||||||
Asset management, administration and commissions | ||||||||||||
This revenue category includes fees from investment management and related services, custody, brokerage services, insurance premiums and commissions, and other products. These fees are recognized over the period in which the related service is provided. Performance-based fees, which are earned based on exceeding certain benchmarks or other performance targets, are accrued and recognized at the end of the performance period in which the target is met. The Firm has contractual arrangements with third parties to provide certain services in connection with its asset management activities. Amounts paid to third-party service providers are predominantly expensed, such that asset management fees are recorded gross of payments made to third parties. | ||||||||||||
The following table presents components of asset management, administration and commissions. | ||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||
(in millions) | ||||||||||||
Asset management | ||||||||||||
Investment management fees(a) | $ | 8,044 | $ | 6,744 | $ | 6,449 | ||||||
All other asset management fees(b) | 505 | 357 | 241 | |||||||||
Total asset management fees | 8,549 | 7,101 | 6,690 | |||||||||
Total administration fees(c) | 2,101 | 2,135 | 2,171 | |||||||||
Commissions and other fees | ||||||||||||
Brokerage commissions | 2,321 | 2,331 | 2,753 | |||||||||
All other commissions and fees | 2,135 | 2,301 | 2,480 | |||||||||
Total commissions and fees | 4,456 | 4,632 | 5,233 | |||||||||
Total asset management, administration and commissions | $ | 15,106 | $ | 13,868 | $ | 14,094 | ||||||
(a) | Represents fees earned from managing assets on behalf of Firm clients, including investors in Firm-sponsored funds and owners of separately managed investment accounts. | |||||||||||
(b) | Represents fees for services that are ancillary to investment management services, such as commissions earned on the sales or distribution of mutual funds to clients. | |||||||||||
(c) | Predominantly, includes fees for custody, securities lending, funds services and securities clearance. | |||||||||||
Mortgage fees and related income | ||||||||||||
This revenue category primarily reflects CCB’s Mortgage Production and Mortgage Servicing revenue, including: fees and income derived from mortgages originated with the intent to sell; mortgage sales and servicing including losses related to the repurchase of previously-sold loans; the impact of risk management activities associated with the mortgage pipeline, warehouse loans and MSRs; and revenue related to any residual interests held from mortgage securitizations. This revenue category also includes gains and losses on sales and lower of cost or fair value adjustments for mortgage loans held-for-sale, as well as changes in fair value for mortgage loans originated with the intent to sell and measured at fair value under the fair value option. Changes in the fair value of CCB MSRs are reported in mortgage fees and related income. Net interest income from mortgage loans is recorded in interest income. For a further discussion of MSRs, see Note 17 on pages 299–304 of this Annual Report. | ||||||||||||
Card income | ||||||||||||
This revenue category includes interchange income from credit and debit cards and net fees earned from processing credit card transactions for merchants. Card income is recognized as earned. Annual fees and direct loan origination costs are deferred and recognized on a straight-line basis over a 12-month period. Expense related to rewards programs is recorded when the rewards are earned by the customer and netted against interchange income. | ||||||||||||
Credit card revenue sharing agreements | ||||||||||||
The Firm has contractual agreements with numerous co-brand partners and affinity organizations (collectively, “partners”), which grant the Firm exclusive rights to market to the customers or members of such partners. These partners endorse the credit card programs and provide their customer and member lists to the Firm, and they may also conduct marketing activities and provide awards under the various credit card programs. The terms of these agreements generally range from three to ten years. | ||||||||||||
The Firm typically makes incentive payments to the partners based on new account originations, charge volumes and the cost of the partners’ marketing activities and awards. Payments based on new account originations are accounted for as direct loan origination costs. Payments to partners based on charge volumes are deducted from interchange income as the related revenue is earned. Payments based on marketing efforts undertaken by the partners are expensed by the Firm as incurred and reported as noninterest expense. | ||||||||||||
Other income | ||||||||||||
Included in other income is operating lease income of $1.5 billion, $1.3 billion and $1.2 billion for the years ended December 31, 2013, 2012 and 2011, respectively. Additionally, included in other income is a net pre-tax gain of approximately $1.3 billion, from the sale of the Visa B Shares. See Note 2 on pages 192–194 of this Annual Report for more information. |
Interest_Income_and_Interest_E
Interest Income and Interest Expense | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Interest Income (Expense), Net [Abstract] | ' | |||||||||||
Interest income and expense | ' | |||||||||||
Interest income and Interest expense | ||||||||||||
Interest income and interest expense is recorded in the Consolidated Statements of Income and classified based on the nature of the underlying asset or liability. Interest income and interest expense includes the current-period interest accruals for financial instruments measured at fair value, except for financial instruments containing embedded derivatives that would be separately accounted for in accordance with U.S. GAAP absent the fair value option election; for those instruments, all changes in fair value, including any interest elements, are reported in principal transactions revenue. For financial instruments that are not measured at fair value, the related interest is included within interest income or interest expense, as applicable. | ||||||||||||
Details of interest income and interest expense were as follows. | ||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||
(in millions) | ||||||||||||
Interest income | ||||||||||||
Loans | $ | 33,489 | $ | 35,832 | $ | 37,098 | ||||||
Securities | 7,812 | 7,939 | 9,215 | |||||||||
Trading assets | 8,426 | 9,039 | 11,142 | |||||||||
Federal funds sold and securities purchased under resale agreements | 1,940 | 2,442 | 2,523 | |||||||||
Securities borrowed | (127 | ) | (c) | (3 | ) | (c) | 110 | |||||
Deposits with banks | 918 | 555 | 599 | |||||||||
Other assets(a) | 538 | 259 | 606 | |||||||||
Total interest income | 52,996 | 56,063 | 61,293 | |||||||||
Interest expense | ||||||||||||
Interest-bearing deposits | 2,067 | 2,655 | 3,855 | |||||||||
Short-term and other liabilities(b) | 2,125 | 1,788 | 2,873 | |||||||||
Long-term debt | 5,007 | 6,062 | 6,109 | |||||||||
Beneficial interests issued by consolidated VIEs | 478 | 648 | 767 | |||||||||
Total interest expense | 9,677 | 11,153 | 13,604 | |||||||||
Net interest income | 43,319 | 44,910 | 47,689 | |||||||||
Provision for credit losses | 225 | 3,385 | 7,574 | |||||||||
Net interest income after provision for credit losses | $ | 43,094 | $ | 41,525 | $ | 40,115 | ||||||
(a) | Largely margin loans. | |||||||||||
(b) | Includes brokerage customer payables. | |||||||||||
(c) | Negative interest income for the years ended December 31, 2013 and 2012, is a result of increased client-driven demand for certain securities combined with the impact of low interest rates; the offset of this matched book activity is reflected as lower net interest expense reported within short-term and other liabilities. |
Pension_and_Other_Postretireme
Pension and Other Postretirement Employee Benefit Plans | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||
General Discussion of Pension and Other Postretirement Benefits [Abstract] | ' | ||||||||||||||||||||||||||||||
Pension and other postretirement employee benefit plans | ' | ||||||||||||||||||||||||||||||
Pension and other postretirement employee benefit plans | |||||||||||||||||||||||||||||||
The Firm’s defined benefit pension plans and its other postretirement employee benefit (“OPEB”) plans (collectively the “Plans”) are accounted for in accordance with U.S. GAAP for retirement benefits. | |||||||||||||||||||||||||||||||
Defined benefit pension plans | |||||||||||||||||||||||||||||||
The Firm has a qualified noncontributory U.S. defined benefit pension plan that provides benefits to substantially all U.S. employees. The U.S. plan employs a cash balance formula in the form of pay and interest credits to determine the benefits to be provided at retirement, based on eligible compensation and years of service. Employees begin to accrue plan benefits after completing one year of service, and benefits generally vest after three years of service. The Firm also offers benefits through defined benefit pension plans to qualifying employees in certain non-U.S. locations based on factors such as eligible compensation, age and/or years of service. | |||||||||||||||||||||||||||||||
It is the Firm’s policy to fund the pension plans in amounts sufficient to meet the requirements under applicable laws. The Firm does not anticipate at this time any contribution to the U.S. defined benefit pension plan in 2014. The 2014 contributions to the non-U.S. defined benefit pension plans are expected to be $49 million of which $32 million are contractually required. | |||||||||||||||||||||||||||||||
JPMorgan Chase also has a number of defined benefit pension plans that are not subject to Title IV of the Employee Retirement Income Security Act. The most significant of these plans is the Excess Retirement Plan, pursuant to which certain employees previously earned pay credits on compensation amounts above the maximum stipulated by law under a qualified plan; no further pay credits are allocated under this plan. The Excess Retirement Plan had an unfunded projected benefit obligation in the amount of $245 million and $276 million, at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||
Effective March 19, 2012, pursuant to the WaMu Global Settlement, JPMorgan Chase Bank, N.A. became the sponsor of the WaMu Pension Plan. This plan’s assets were merged with and into the JPMorgan Chase Retirement Plan effective as of December 31, 2012. | |||||||||||||||||||||||||||||||
Defined contribution plans | |||||||||||||||||||||||||||||||
JPMorgan Chase currently provides two qualified defined contribution plans in the U.S. and other similar arrangements in certain non-U.S. locations, all of which are administered in accordance with applicable local laws and regulations. The most significant of these plans is The JPMorgan Chase 401(k) Savings Plan (the “401(k) Savings Plan”), which covers substantially all U.S. employees. The 401(k) Savings Plan allows employees to make pretax and Roth 401(k) contributions to tax-deferred investment portfolios. The JPMorgan Chase Common Stock Fund, which is an investment option under the 401(k) Savings Plan, is a nonleveraged employee stock ownership plan. | |||||||||||||||||||||||||||||||
The Firm matches eligible employee contributions up to 5% of benefits-eligible compensation (e.g., base pay) on an annual basis. Employees begin to receive matching contributions after completing a one-year-of-service requirement. Employees with total annual cash compensation of $250,000 or more are not eligible for matching contributions. Matching contributions vest after three years of service for employees hired on or after May 1, 2009. The 401(k) Savings Plan also permits discretionary profit-sharing contributions by participating companies for certain employees, subject to a specified vesting schedule. | |||||||||||||||||||||||||||||||
OPEB plans | |||||||||||||||||||||||||||||||
JPMorgan Chase offers postretirement medical and life insurance benefits to certain retirees and postretirement medical benefits to qualifying U.S. employees. These benefits vary with the length of service and the date of hire and provide for limits on the Firm’s share of covered medical benefits. The medical and life insurance benefits are both contributory. Postretirement medical benefits also are offered to qualifying U.K. employees. | |||||||||||||||||||||||||||||||
JPMorgan Chase’s U.S. OPEB obligation is funded with corporate-owned life insurance (“COLI”) purchased on the lives of eligible employees and retirees. While the Firm owns the COLI policies, COLI proceeds (death benefits, withdrawals and other distributions) may be used only to reimburse the Firm for its net postretirement benefit claim payments and related administrative expense. The U.K. OPEB plan is unfunded. | |||||||||||||||||||||||||||||||
The following table presents the changes in benefit obligations, plan assets and funded status amounts reported on the Consolidated Balance Sheets for the Firm’s U.S. and non-U.S. defined benefit pension and OPEB plans. | |||||||||||||||||||||||||||||||
Defined benefit pension plans | |||||||||||||||||||||||||||||||
As of or for the year ended December 31, | U.S. | Non-U.S. | OPEB plans(d) | ||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Change in benefit obligation | |||||||||||||||||||||||||||||||
Benefit obligation, beginning of year | $ | (11,478 | ) | $ | (9,043 | ) | $ | (3,243 | ) | $ | (2,829 | ) | $ | (990 | ) | $ | (999 | ) | |||||||||||||
Benefits earned during the year | (314 | ) | (272 | ) | (34 | ) | (41 | ) | (1 | ) | (1 | ) | |||||||||||||||||||
Interest cost on benefit obligations | (447 | ) | (466 | ) | (125 | ) | (126 | ) | (35 | ) | (44 | ) | |||||||||||||||||||
Plan amendments | — | — | — | 6 | — | — | |||||||||||||||||||||||||
WaMu Global Settlement | — | (1,425 | ) | — | — | — | — | ||||||||||||||||||||||||
Employee contributions | NA | NA | (7 | ) | (5 | ) | (72 | ) | (74 | ) | |||||||||||||||||||||
Net gain/(loss) | 794 | (864 | ) | (62 | ) | (244 | ) | 138 | (9 | ) | |||||||||||||||||||||
Benefits paid | 669 | 592 | 106 | 108 | 144 | 149 | |||||||||||||||||||||||||
Expected Medicare Part D subsidy receipts | NA | NA | NA | NA | (10 | ) | (10 | ) | |||||||||||||||||||||||
Foreign exchange impact and other | — | — | (68 | ) | (112 | ) | — | (2 | ) | ||||||||||||||||||||||
Benefit obligation, end of year | $ | (10,776 | ) | $ | (11,478 | ) | $ | (3,433 | ) | $ | (3,243 | ) | $ | (826 | ) | $ | (990 | ) | |||||||||||||
Change in plan assets | |||||||||||||||||||||||||||||||
Fair value of plan assets, beginning of year | $ | 13,012 | $ | 10,472 | $ | 3,330 | $ | 2,989 | $ | 1,563 | $ | 1,435 | |||||||||||||||||||
Actual return on plan assets | 1,979 | 1,292 | 187 | 237 | 211 | 142 | |||||||||||||||||||||||||
Firm contributions | 32 | 31 | 45 | 86 | 2 | 2 | |||||||||||||||||||||||||
WaMu Global Settlement | — | 1,809 | — | — | — | — | |||||||||||||||||||||||||
Employee contributions | — | — | 7 | 5 | — | — | |||||||||||||||||||||||||
Benefits paid | (669 | ) | (592 | ) | (106 | ) | (108 | ) | (19 | ) | (16 | ) | |||||||||||||||||||
Foreign exchange impact and other | — | — | 69 | 121 | — | — | |||||||||||||||||||||||||
Fair value of plan assets, end of year | $ | 14,354 | (b)(c) | $ | 13,012 | (b)(c) | $ | 3,532 | (c) | $ | 3,330 | (c) | $ | 1,757 | $ | 1,563 | |||||||||||||||
Funded/(unfunded) status(a) | $ | 3,578 | $ | 1,534 | $ | 99 | $ | 87 | $ | 931 | $ | 573 | |||||||||||||||||||
Accumulated benefit obligation, end of year | $ | (10,685 | ) | $ | (11,447 | ) | $ | (3,406 | ) | $ | (3,221 | ) | NA | NA | |||||||||||||||||
(a) | Represents plans with an aggregate overfunded balance of $5.1 billion and $2.8 billion at December 31, 2013 and 2012, respectively, and plans with an aggregate underfunded balance of $540 million and $612 million at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||
(b) | At December 31, 2013 and 2012, approximately $429 million and $418 million, respectively, of U.S. plan assets included participation rights under participating annuity contracts. | ||||||||||||||||||||||||||||||
(c) | At December 31, 2013 and 2012, defined benefit pension plan amounts not measured at fair value included $96 million and $137 million, respectively, of accrued receivables, and $104 million and $310 million, respectively, of accrued liabilities, for U.S. plans; and at December 31, 2012, $47 million of accrued receivables, and $46 million of accrued liabilities, for non-U.S. plans. | ||||||||||||||||||||||||||||||
(d) | Includes an unfunded accumulated postretirement benefit obligation of $34 million and $31 million at December 31, 2013 and 2012, respectively, for the U.K. plan. | ||||||||||||||||||||||||||||||
Gains and losses | |||||||||||||||||||||||||||||||
For the Firm’s defined benefit pension plans, fair value is used to determine the expected return on plan assets. Amortization of net gains and losses is included in annual net periodic benefit cost if, as of the beginning of the year, the net gain or loss exceeds 10% of the greater of the projected benefit obligation or the fair value of the plan assets. Any excess is amortized over the average future service period of defined benefit pension plan participants, which for the U.S. defined benefit pension plan is currently nine years. In addition, prior service costs are amortized over the average remaining service period of active employees expected to receive benefits under the plan when the prior service cost is first recognized. The average remaining amortization period for current prior service costs is six years. | |||||||||||||||||||||||||||||||
For the Firm’s OPEB plans, a calculated value that recognizes changes in fair value over a five-year period is used to determine the expected return on plan assets. This value is referred to as the market related value of assets. Amortization of net gains and losses, adjusted for gains and losses not yet recognized, is included in annual net periodic benefit cost if, as of the beginning of the year, the net gain or loss exceeds 10% of the greater of the accumulated postretirement benefit obligation or the market related value of assets. Any excess net gain or loss is amortized over the average expected lifetime of retired participants, which is currently thirteen years; however, prior service costs resulting from plan changes are amortized over the average years of service remaining to full eligibility age, which is currently two years. | |||||||||||||||||||||||||||||||
The following table presents pretax pension and OPEB amounts recorded in AOCI. | |||||||||||||||||||||||||||||||
Defined benefit pension plans | |||||||||||||||||||||||||||||||
December 31, | U.S. | Non-U.S. | OPEB plans | ||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Net gain/(loss) | $ | (1,726 | ) | $ | (3,814 | ) | $ | (658 | ) | $ | (676 | ) | $ | 125 | $ | (133 | ) | ||||||||||||||
Prior service credit/(cost) | 196 | 237 | 14 | 18 | 1 | 1 | |||||||||||||||||||||||||
Accumulated other comprehensive income/(loss), pretax, end of year | $ | (1,530 | ) | $ | (3,577 | ) | $ | (644 | ) | $ | (658 | ) | $ | 126 | $ | (132 | ) | ||||||||||||||
The following table presents the components of net periodic benefit costs reported in the Consolidated Statements of Income and other comprehensive income for the Firm’s U.S. and non-U.S. defined benefit pension, defined contribution and OPEB plans. | |||||||||||||||||||||||||||||||
Pension plans | |||||||||||||||||||||||||||||||
U.S. | Non-U.S. | OPEB plans | |||||||||||||||||||||||||||||
Year ended December 31, (in millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Components of net periodic benefit cost | |||||||||||||||||||||||||||||||
Benefits earned during the year | $ | 314 | $ | 272 | $ | 249 | $ | 34 | $ | 41 | $ | 36 | $ | 1 | $ | 1 | $ | 1 | |||||||||||||
Interest cost on benefit obligations | 447 | 466 | 451 | 125 | 126 | 133 | 35 | 44 | 51 | ||||||||||||||||||||||
Expected return on plan assets | (956 | ) | (861 | ) | (791 | ) | (142 | ) | (137 | ) | (141 | ) | (92 | ) | (90 | ) | (88 | ) | |||||||||||||
Amortization: | |||||||||||||||||||||||||||||||
Net (gain)/loss | 271 | 289 | 165 | 49 | 36 | 48 | 1 | (1 | ) | 1 | |||||||||||||||||||||
Prior service cost/(credit) | (41 | ) | (41 | ) | (43 | ) | (2 | ) | — | (1 | ) | — | — | (8 | ) | ||||||||||||||||
Net periodic defined benefit cost | 35 | 125 | 31 | 64 | 66 | 75 | (55 | ) | (46 | ) | (43 | ) | |||||||||||||||||||
Other defined benefit pension plans(a) | 15 | 15 | 19 | 14 | 8 | 12 | NA | NA | NA | ||||||||||||||||||||||
Total defined benefit plans | 50 | 140 | 50 | 78 | 74 | 87 | (55 | ) | (46 | ) | (43 | ) | |||||||||||||||||||
Total defined contribution plans | 447 | 409 | 370 | 321 | 302 | 285 | NA | NA | NA | ||||||||||||||||||||||
Total pension and OPEB cost included in compensation expense | $ | 497 | $ | 549 | $ | 420 | $ | 399 | $ | 376 | $ | 372 | $ | (55 | ) | $ | (46 | ) | $ | (43 | ) | ||||||||||
Changes in plan assets and benefit obligations recognized in other comprehensive income | |||||||||||||||||||||||||||||||
Net (gain)/loss arising during the year | $ | (1,817 | ) | $ | 434 | $ | 1,207 | $ | 19 | $ | 146 | $ | 25 | $ | (257 | ) | $ | (43 | ) | $ | 58 | ||||||||||
Prior service credit arising during the year | — | — | — | — | (6 | ) | — | — | — | — | |||||||||||||||||||||
Amortization of net loss | (271 | ) | (289 | ) | (165 | ) | (49 | ) | (36 | ) | (48 | ) | (1 | ) | 1 | (1 | ) | ||||||||||||||
Amortization of prior service (cost)/credit | 41 | 41 | 43 | 2 | — | 1 | — | — | 8 | ||||||||||||||||||||||
Foreign exchange impact and other | — | — | — | 14 | (a) | 22 | 1 | — | (1 | ) | — | ||||||||||||||||||||
Total recognized in other comprehensive income | $ | (2,047 | ) | $ | 186 | $ | 1,085 | $ | (14 | ) | $ | 126 | $ | (21 | ) | $ | (258 | ) | $ | (43 | ) | $ | 65 | ||||||||
Total recognized in net periodic benefit cost and other comprehensive income | $ | (2,012 | ) | $ | 311 | $ | 1,116 | $ | 50 | $ | 192 | $ | 54 | $ | (313 | ) | $ | (89 | ) | $ | 22 | ||||||||||
(a) | Includes various defined benefit pension plans which are individually immaterial. | ||||||||||||||||||||||||||||||
The estimated pretax amounts that will be amortized from AOCI into net periodic benefit cost in 2014 are as follows. | |||||||||||||||||||||||||||||||
Defined benefit pension plans | OPEB plans | ||||||||||||||||||||||||||||||
(in millions) | U.S. | Non-U.S. | U.S. | Non-U.S. | |||||||||||||||||||||||||||
Net loss/(gain) | $ | 35 | $ | 47 | $ | — | $ | — | |||||||||||||||||||||||
Prior service cost/(credit) | (41 | ) | (2 | ) | — | — | |||||||||||||||||||||||||
Total | $ | (6 | ) | $ | 45 | $ | — | $ | — | ||||||||||||||||||||||
The following table presents the actual rate of return on plan assets for the U.S. and non-U.S. defined benefit pension and OPEB plans. | |||||||||||||||||||||||||||||||
U.S. | Non-U.S. | ||||||||||||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Actual rate of return: | |||||||||||||||||||||||||||||||
Defined benefit pension plans | 15.95 | % | 12.66 | % | 0.72 | % | 3.74 - 23.80% | 7.21 - 11.72% | (4.29)-13.12% | ||||||||||||||||||||||
OPEB plans | 13.88 | 10.1 | 5.22 | NA | NA | NA | |||||||||||||||||||||||||
Plan assumptions | |||||||||||||||||||||||||||||||
JPMorgan Chase’s expected long-term rate of return for U.S. defined benefit pension and OPEB plan assets is a blended average of the investment advisor’s projected long-term (10 years or more) returns for the various asset classes, weighted by the asset allocation. Returns on asset classes are developed using a forward-looking approach and are not strictly based on historical returns. Equity returns are generally developed as the sum of inflation, expected real earnings growth and expected long-term dividend yield. Bond returns are generally developed as the sum of inflation, real bond yield and risk spread (as appropriate), adjusted for the expected effect on returns from changing yields. Other asset-class returns are derived from their relationship to the equity and bond markets. Consideration is also given to current market conditions and the short-term portfolio mix of each plan; as a result, in 2013 the Firm generally maintained the same expected return on assets as in the prior year. | |||||||||||||||||||||||||||||||
For the U.K. defined benefit pension plans, which represent the most significant of the non-U.S. defined benefit pension plans, procedures similar to those in the U.S. are used to develop the expected long-term rate of return on plan assets, taking into consideration local market conditions and the specific allocation of plan assets. The expected long-term rate of return on U.K. plan assets is an average of projected long-term returns for each asset class. The return on equities has been selected by reference to the yield on long-term U.K. government bonds plus an equity risk premium above the risk-free rate. The expected return on “AA” rated long-term corporate bonds is based on an implied yield for similar bonds. | |||||||||||||||||||||||||||||||
The discount rate used in determining the benefit obligation under the U.S. defined benefit pension and OPEB plans was selected by reference to the yields on portfolios of bonds with maturity dates and coupons that closely match each of the plan’s projected cash flows; such portfolios are derived from a broad-based universe of high-quality corporate bonds as of the measurement date. In years in which these hypothetical bond portfolios generate excess cash, such excess is assumed to be reinvested at the one-year forward rates implied by the Citigroup Pension Discount Curve published as of the measurement date. The discount rate for the U.K. defined benefit pension plan represents a rate implied from the yield curve of the year-end iBoxx £ corporate “AA” 15-year-plus bond index. | |||||||||||||||||||||||||||||||
The following tables present the weighted-average annualized actuarial assumptions for the projected and accumulated postretirement benefit obligations, and the components of net periodic benefit costs, for the Firm’s significant U.S. and non-U.S. defined benefit pension and OPEB plans, as of and for the periods indicated. | |||||||||||||||||||||||||||||||
Weighted-average assumptions used to determine benefit obligations | |||||||||||||||||||||||||||||||
U.S. | Non-U.S. | ||||||||||||||||||||||||||||||
December 31, | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||
Discount rate: | |||||||||||||||||||||||||||||||
Defined benefit pension plans | 5 | % | 3.9 | % | 1.10 - 4.40% | 1.40 - 4.40% | |||||||||||||||||||||||||
OPEB plans | 4.9 | 3.9 | — | — | |||||||||||||||||||||||||||
Rate of compensation increase | 3.5 | 4 | 2.75 - 4.60 | 2.75 - 4.10 | |||||||||||||||||||||||||||
Health care cost trend rate: | |||||||||||||||||||||||||||||||
Assumed for next year | 6.5 | 7 | — | — | |||||||||||||||||||||||||||
Ultimate | 5 | 5 | — | — | |||||||||||||||||||||||||||
Year when rate will reach ultimate | 2017 | 2017 | — | — | |||||||||||||||||||||||||||
Weighted-average assumptions used to determine net periodic benefit costs | |||||||||||||||||||||||||||||||
U.S. | Non-U.S. | ||||||||||||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Discount rate: | |||||||||||||||||||||||||||||||
Defined benefit pension plans | 3.9 | % | 4.6 | % | 5.5 | % | 1.40 - 4.40% | 1.50 - 4.80% | 1.60-5.50% | ||||||||||||||||||||||
OPEB plans | 3.9 | 4.7 | 5.5 | — | — | — | |||||||||||||||||||||||||
Expected long-term rate of return on plan assets: | |||||||||||||||||||||||||||||||
Defined benefit pension plans | 7.5 | 7.5 | 7.5 | 2.40 - 4.90 | 2.50 - 4.60 | 2.40-5.40 | |||||||||||||||||||||||||
OPEB plans | 6.25 | 6.25 | 6.25 | NA | NA | NA | |||||||||||||||||||||||||
Rate of compensation increase | 4 | 4 | 4 | 2.75 - 4.10 | 2.75 - 4.20 | 3.00-4.50 | |||||||||||||||||||||||||
Health care cost trend rate: | |||||||||||||||||||||||||||||||
Assumed for next year | 7 | 7 | 7 | — | — | — | |||||||||||||||||||||||||
Ultimate | 5 | 5 | 5 | — | — | — | |||||||||||||||||||||||||
Year when rate will reach ultimate | 2017 | 2017 | 2017 | — | — | — | |||||||||||||||||||||||||
The following table presents the effect of a one-percentage-point change in the assumed health care cost trend rate on JPMorgan Chase’s total service and interest cost and accumulated postretirement benefit obligation. | |||||||||||||||||||||||||||||||
Year ended December 31, 2013 (in millions) | 1-Percentage point increase | 1-Percentage point decrease | |||||||||||||||||||||||||||||
Effect on total service and interest cost | $ | 1 | $ | (1 | ) | ||||||||||||||||||||||||||
Effect on accumulated postretirement benefit obligation | 31 | (26 | ) | ||||||||||||||||||||||||||||
At December 31, 2013, the Firm increased the discount rates used to determine its benefit obligations for the U.S. defined benefit pension and OPEB plans in light of current market interest rates, which will result in a decrease in expense of approximately $84 million for 2014. The 2014 expected long-term rate of return on U.S. defined benefit pension plan assets and U.S. OPEB plan assets are 7.00% and 6.25%, respectively. For 2014, the initial health care benefit obligation trend assumption has been set at 6.50%, and the ultimate health care trend assumption and the year to reach the ultimate rate remains at 5.00% and 2017, respectively, unchanged from 2013. As of December 31, 2013, the interest crediting rate assumption remained at 5.00% while the assumed rate of compensation increase decreased to 3.50%. | |||||||||||||||||||||||||||||||
JPMorgan Chase’s U.S. defined benefit pension and OPEB plan expense is sensitive to the expected long-term rate of return on plan assets and the discount rate. With all other assumptions held constant, a 25-basis point decline in the expected long-term rate of return on U.S. plan assets would result in an aggregate increase of approximately $39 million in 2014 U.S. defined benefit pension and OPEB plan expense. A 25-basis point decline in the discount rate for the U.S. plans would result in an increase in 2014 U.S. defined benefit pension and OPEB plan expense of approximately an aggregate $26 million and an increase in the related benefit obligations of approximately an aggregate $254 million. A 25-basis point decrease in the interest crediting rate for the U.S. defined benefit pension plan would result in a decrease in 2014 U.S. defined benefit pension expense of approximately $32 million and a decrease in the related projected benefit obligations of approximately $130 million. A 25-basis point decline in the discount rates for the non-U.S. plans would result in an increase in the 2014 non-U.S. defined benefit pension plan expense of approximately $15 million. | |||||||||||||||||||||||||||||||
Investment strategy and asset allocation | |||||||||||||||||||||||||||||||
The Firm’s U.S. defined benefit pension plan assets are held in trust and are invested in a well-diversified portfolio of equity and fixed income securities, cash and cash equivalents, and alternative investments (e.g., hedge funds, private equity, real estate and real assets). Non-U.S. defined benefit pension plan assets are held in various trusts and are also invested in well-diversified portfolios of equity, fixed income and other securities. Assets of the Firm’s COLI policies, which are used to partially fund the U.S. OPEB plan, are held in separate accounts with an insurance company and are invested in funds intended to replicate equity and fixed income indices. | |||||||||||||||||||||||||||||||
The investment policy for the Firm’s U.S. defined benefit pension plan assets is to optimize the risk-return relationship as appropriate to the needs and goals using a global portfolio of various asset classes diversified by market segment, economic sector, and issuer. Assets are managed by a combination of internal and external investment managers. Periodically the Firm performs a comprehensive analysis on the U.S. defined benefit pension plan asset allocations, incorporating projected asset and liability data, which focuses on the short- and long-term impact of the asset allocation on cumulative pension expense, economic cost, present value of contributions and funded status. As the U.S. defined benefit pension plan is overfunded, the investment strategy for this plan was adjusted in 2013 to provide for greater liquidity. Currently, approved asset allocation ranges are: U.S. equity 0% to 45%, international equity 0% to 40%, debt securities 0% to 80%, hedge funds 0% to 20%, and real estate 0% to 10%, real assets 0% to 10% and private equity 0% to 20%. Asset allocations are not managed to a specific target but seek to shift asset class allocations within these stated ranges. Investment strategies incorporate the economic outlook and the anticipated implications of the macroeconomic environment on the various asset classes while maintaining an appropriate level of liquidity for the plan. The Firm regularly reviews the asset allocations and asset managers, as well as other factors that impact the portfolio, which is rebalanced when deemed necessary. | |||||||||||||||||||||||||||||||
For the U.K. defined benefit pension plans, which represent the most significant of the non-U.S. defined benefit pension plans, the assets are invested to maximize returns subject to an appropriate level of risk relative to the plans’ liabilities. In order to reduce the volatility in returns relative to the plans’ liability profiles, the U.K. defined benefit pension plans’ largest asset allocations are to debt securities of appropriate durations. Other assets, mainly equity securities, are then invested for capital appreciation, to provide long-term investment growth. Similar to the U.S. defined benefit pension plan, asset allocations and asset managers for the U.K. plans are reviewed regularly and the portfolio is rebalanced when deemed necessary. | |||||||||||||||||||||||||||||||
Investments held by the Plans include financial instruments which are exposed to various risks such as interest rate, market and credit risks. Exposure to a concentration of credit risk is mitigated by the broad diversification of both U.S. and non-U.S. investment instruments. Additionally, the investments in each of the common/collective trust funds and registered investment companies are further diversified into various financial instruments. As of December 31, 2013, assets held by the Firm’s U.S. and non-U.S. defined benefit pension and OPEB plans do not include JPMorgan Chase common stock, except through indirect exposures through investments in third-party stock-index funds. The plans hold investments in funds that are sponsored or managed by affiliates of JPMorgan Chase in the amount of $2.9 billion and $1.8 billion for U.S. plans and $242 million and $220 million for non-U.S. plans, as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||
The following table presents the weighted-average asset allocation of the fair values of total plan assets at December 31 for the years indicated, as well as the respective approved range/target allocation by asset category, for the Firm’s U.S. and non-U.S. defined benefit pension and OPEB plans. | |||||||||||||||||||||||||||||||
Defined benefit pension plans | |||||||||||||||||||||||||||||||
U.S. | Non-U.S. | OPEB plans(c) | |||||||||||||||||||||||||||||
Target | % of plan assets | Target | % of plan assets | Target | % of plan assets | ||||||||||||||||||||||||||
December 31, | Allocation | 2013 | 2012 | Allocation | 2013 | 2012 | Allocation | 2013 | 2012 | ||||||||||||||||||||||
Asset category | |||||||||||||||||||||||||||||||
Debt securities(a) | 0-80% | 25 | % | 20 | % | 64 | % | 63 | % | 72 | % | 50 | % | 50 | % | 50 | % | ||||||||||||||
Equity securities | 0-85 | 48 | 41 | 35 | 36 | 27 | 50 | 50 | 50 | ||||||||||||||||||||||
Real estate | 0-10 | 4 | 5 | — | — | — | — | — | — | ||||||||||||||||||||||
Alternatives(b) | 0-50 | 23 | 34 | 1 | 1 | 1 | — | — | — | ||||||||||||||||||||||
Total | 100% | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | ||||||||||||||
(a) | Debt securities primarily include corporate debt, U.S. federal, state, local and non-U.S. government, and mortgage-backed securities. | ||||||||||||||||||||||||||||||
(b) | Alternatives primarily include limited partnerships. | ||||||||||||||||||||||||||||||
(c) | Represents the U.S. OPEB plan only, as the U.K. OPEB plan is unfunded. | ||||||||||||||||||||||||||||||
Fair value measurement of the plans’ assets and liabilities | |||||||||||||||||||||||||||||||
For information on fair value measurements, including descriptions of level 1, 2, and 3 of the fair value hierarchy and the valuation methods employed by the Firm, see Note 3 on pages 195–215 of this Annual Report. | |||||||||||||||||||||||||||||||
Pension and OPEB plan assets and liabilities measured at fair value | |||||||||||||||||||||||||||||||
U.S. defined benefit pension plans | Non-U.S. defined benefit pension plans(i) | ||||||||||||||||||||||||||||||
31-Dec-13 | Level 1 | Level 2 | Level 3 | Total fair value | Level 1 | Level 2 | Total fair value | ||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 62 | $ | — | $ | — | $ | 62 | $ | 221 | $ | 3 | $ | 224 | |||||||||||||||||
Equity securities: | |||||||||||||||||||||||||||||||
Capital equipment | 1,084 | — | — | 1,084 | 86 | 17 | 103 | ||||||||||||||||||||||||
Consumer goods | 1,085 | — | — | 1,085 | 225 | 50 | 275 | ||||||||||||||||||||||||
Banks and finance companies | 737 | — | — | 737 | 233 | 29 | 262 | ||||||||||||||||||||||||
Business services | 510 | — | — | 510 | 209 | 14 | 223 | ||||||||||||||||||||||||
Energy | 292 | — | — | 292 | 64 | 20 | 84 | ||||||||||||||||||||||||
Materials | 344 | — | — | 344 | 36 | 9 | 45 | ||||||||||||||||||||||||
Real Estate | 38 | — | — | 38 | — | 1 | 1 | ||||||||||||||||||||||||
Other | 1,337 | 18 | 4 | 1,359 | 25 | 103 | 128 | ||||||||||||||||||||||||
Total equity securities | 5,427 | 18 | 4 | 5,449 | 878 | 243 | 1,121 | ||||||||||||||||||||||||
Common/collective trust funds(a) | — | 1,308 | 4 | 1,312 | 98 | 248 | 346 | ||||||||||||||||||||||||
Limited partnerships:(b) | |||||||||||||||||||||||||||||||
Hedge funds | — | 355 | 718 | 1,073 | — | — | — | ||||||||||||||||||||||||
Private equity | — | — | 1,969 | 1,969 | — | — | — | ||||||||||||||||||||||||
Real estate | — | — | 558 | 558 | — | — | — | ||||||||||||||||||||||||
Real assets(c) | — | — | 271 | 271 | — | — | — | ||||||||||||||||||||||||
Total limited partnerships | — | 355 | 3,516 | 3,871 | — | — | — | ||||||||||||||||||||||||
Corporate debt securities(d) | — | 1,223 | 7 | 1,230 | — | 787 | 787 | ||||||||||||||||||||||||
U.S. federal, state, local and non-U.S. government debt securities | 343 | 299 | — | 642 | — | 777 | 777 | ||||||||||||||||||||||||
Mortgage-backed securities | 37 | 50 | — | 87 | 73 | — | 73 | ||||||||||||||||||||||||
Derivative receivables | — | 30 | — | 30 | — | 302 | 302 | ||||||||||||||||||||||||
Other(e) | 1,214 | 41 | 430 | 1,685 | 148 | 52 | 200 | ||||||||||||||||||||||||
Total assets measured at fair value(f)(g) | $ | 7,083 | $ | 3,324 | $ | 3,961 | $ | 14,368 | $ | 1,418 | $ | 2,412 | $ | 3,830 | |||||||||||||||||
Derivative payables | $ | — | $ | (6 | ) | $ | — | $ | (6 | ) | $ | — | $ | (298 | ) | $ | (298 | ) | |||||||||||||
Total liabilities measured at fair value(h) | $ | — | $ | (6 | ) | $ | — | $ | (6 | ) | $ | — | $ | (298 | ) | $ | (298 | ) | |||||||||||||
U.S. defined benefit pension plans | Non-U.S. defined benefit pension plans(i) | ||||||||||||||||||||||||||||||
31-Dec-12 | Level 1 | Level 2 | Level 3 | Total fair value | Level 1 | Level 2 | Total fair value | ||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 162 | $ | — | $ | — | $ | 162 | $ | 142 | $ | — | $ | 142 | |||||||||||||||||
Equity securities: | |||||||||||||||||||||||||||||||
Capital equipment | 702 | 6 | — | 708 | 115 | 15 | 130 | ||||||||||||||||||||||||
Consumer goods | 744 | 4 | — | 748 | 136 | 32 | 168 | ||||||||||||||||||||||||
Banks and finance companies | 425 | 54 | — | 479 | 94 | 23 | 117 | ||||||||||||||||||||||||
Business services | 424 | — | — | 424 | 125 | 8 | 133 | ||||||||||||||||||||||||
Energy | 192 | — | — | 192 | 54 | 12 | 66 | ||||||||||||||||||||||||
Materials | 211 | — | — | 211 | 30 | 6 | 36 | ||||||||||||||||||||||||
Real estate | 18 | — | — | 18 | 10 | — | 10 | ||||||||||||||||||||||||
Other | 1,107 | 42 | 4 | 1,153 | 19 | 71 | 90 | ||||||||||||||||||||||||
Total equity securities | 3,823 | 106 | 4 | 3,933 | 583 | 167 | 750 | ||||||||||||||||||||||||
Common/collective trust funds(a) | 412 | 1,660 | 199 | 2,271 | 62 | 192 | 254 | ||||||||||||||||||||||||
Limited partnerships:(b) | |||||||||||||||||||||||||||||||
Hedge funds | — | 878 | 1,166 | 2,044 | — | — | — | ||||||||||||||||||||||||
Private equity | — | — | 1,743 | 1,743 | — | — | — | ||||||||||||||||||||||||
Real estate | — | — | 467 | 467 | — | — | — | ||||||||||||||||||||||||
Real assets(c) | — | — | 311 | 311 | — | — | — | ||||||||||||||||||||||||
Total limited partnerships | — | 878 | 3,687 | 4,565 | — | — | — | ||||||||||||||||||||||||
Corporate debt securities(d) | — | 1,114 | 1 | 1,115 | — | 765 | 765 | ||||||||||||||||||||||||
U.S. federal, state, local and non-U.S. government debt securities | — | 537 | — | 537 | — | 1,237 | 1,237 | ||||||||||||||||||||||||
Mortgage-backed securities | 107 | 30 | — | 137 | 100 | — | 100 | ||||||||||||||||||||||||
Derivative receivables | 3 | 5 | — | 8 | 109 | — | 109 | ||||||||||||||||||||||||
Other(e) | 7 | 34 | 420 | 461 | 21 | 67 | 88 | ||||||||||||||||||||||||
Total assets measured at fair value(f)(g) | $ | 4,514 | $ | 4,364 | $ | 4,311 | $ | 13,189 | $ | 1,017 | $ | 2,428 | $ | 3,445 | |||||||||||||||||
Derivative payables | $ | — | $ | (4 | ) | $ | — | $ | (4 | ) | $ | (116 | ) | $ | — | $ | (116 | ) | |||||||||||||
Total liabilities measured at fair value(h) | $ | — | $ | (4 | ) | $ | — | $ | (4 | ) | $ | (116 | ) | $ | — | $ | (116 | ) | |||||||||||||
(a) | At December 31, 2013 and 2012, common/collective trust funds primarily included a mix of short-term investment funds, domestic and international equity investments (including index) and real estate funds. | ||||||||||||||||||||||||||||||
(b) | Unfunded commitments to purchase limited partnership investments for the plans were $1.6 billion and $1.4 billion for 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||
(c) | Real assets include investments in productive assets such as agriculture, energy rights, mining and timber properties and exclude raw land to be developed for real estate purposes. | ||||||||||||||||||||||||||||||
(d) | Corporate debt securities include debt securities of U.S. and non-U.S. corporations. | ||||||||||||||||||||||||||||||
(e) | Other consists of money markets, exchange-traded funds and participating and non-participating annuity contracts. Money markets and exchange-traded funds are primarily classified within level 1 of the fair value hierarchy given they are valued using market observable prices. Participating and non-participating annuity contracts are classified within level 3 of the fair value hierarchy due to lack of market mechanisms for transferring each policy and surrender restrictions. | ||||||||||||||||||||||||||||||
(f) | At December 31, 2013 and 2012, the fair value of investments valued at NAV were $2.7 billion and $4.4 billion, respectively, which were classified within the valuation hierarchy as follows: $100 million and $400 million in level 1, $1.9 billion and $2.5 billion in level 2 and $700 million and $1.5 billion in level 3. | ||||||||||||||||||||||||||||||
(g) | At December 31, 2013 and 2012, excluded U.S. defined benefit pension plan receivables for investments sold and dividends and interest receivables of $96 million and $137 million, respectively; and at December 31, 2012, excluded non-U.S. defined benefit pension plan receivables for investments sold and dividends and interest receivables of $47 million. | ||||||||||||||||||||||||||||||
(h) | At December 31, 2013 and 2012, excluded $102 million and $306 million, respectively, of U.S. defined benefit pension plan payables for investments purchased; and $2 million and $4 million, respectively, of other liabilities; and at December 31, 2012, excluded non-U.S. defined benefit pension plan payables for investments purchased of $46 million. | ||||||||||||||||||||||||||||||
(i) | There were no assets or liabilities classified as level 3 for the non-U.S. defined benefit pension plans as of December 31, 2013 and 2012. | ||||||||||||||||||||||||||||||
The Firm’s U.S. OPEB plan was partially funded with COLI policies of $1.7 billion and $1.6 billion at December 31, 2013 and 2012, respectively, which were classified in level 3 of the valuation hierarchy. | |||||||||||||||||||||||||||||||
Changes in level 3 fair value measurements using significant unobservable inputs | |||||||||||||||||||||||||||||||
Year ended December 31, 2013 | Fair value, January 1, 2013 | Actual return on plan assets | Purchases, sales and settlements, net | Transfers in and/or out of level 3 | Fair value, December 31, 2013 | ||||||||||||||||||||||||||
(in millions) | Realized gains/(losses) | Unrealized gains/(losses) | |||||||||||||||||||||||||||||
U.S. defined benefit pension plans | |||||||||||||||||||||||||||||||
Equities | $ | 4 | $ | — | $ | — | $ | — | $ | — | $ | 4 | |||||||||||||||||||
Common/collective trust funds | 199 | 59 | (32 | ) | (222 | ) | — | 4 | |||||||||||||||||||||||
Limited partnerships: | |||||||||||||||||||||||||||||||
Hedge funds | 1,166 | 137 | 14 | (593 | ) | (6 | ) | 718 | |||||||||||||||||||||||
Private equity | 1,743 | 108 | 170 | (4 | ) | (48 | ) | 1,969 | |||||||||||||||||||||||
Real estate | 467 | 21 | 44 | 26 | — | 558 | |||||||||||||||||||||||||
Real assets | 311 | 4 | 12 | (98 | ) | 42 | 271 | ||||||||||||||||||||||||
Total limited partnerships | 3,687 | 270 | 240 | (669 | ) | (12 | ) | 3,516 | |||||||||||||||||||||||
Corporate debt securities | 1 | — | — | — | 6 | 7 | |||||||||||||||||||||||||
Other | 420 | — | 10 | — | — | 430 | |||||||||||||||||||||||||
Total U.S. defined benefit pension plans | $ | 4,311 | $ | 329 | $ | 218 | $ | (891 | ) | $ | (6 | ) | $ | 3,961 | |||||||||||||||||
OPEB plans | |||||||||||||||||||||||||||||||
COLI | $ | 1,554 | $ | — | $ | 195 | $ | — | $ | — | $ | 1,749 | |||||||||||||||||||
Total OPEB plans | $ | 1,554 | $ | — | $ | 195 | $ | — | $ | — | $ | 1,749 | |||||||||||||||||||
Year ended December 31, 2012 | Fair value, January 1, 2012 | Actual return on plan assets | Purchases, sales and settlements, net | Transfers in and/or out of level 3 | Fair value, December 31, 2012 | ||||||||||||||||||||||||||
(in millions) | Realized gains/(losses) | Unrealized gains/(losses) | |||||||||||||||||||||||||||||
U.S. defined benefit pension plans | |||||||||||||||||||||||||||||||
Equities | $ | 1 | $ | — | $ | (1 | ) | $ | — | $ | 4 | $ | 4 | ||||||||||||||||||
Common/collective trust funds | 202 | 2 | 22 | (27 | ) | — | 199 | ||||||||||||||||||||||||
Limited partnerships: | |||||||||||||||||||||||||||||||
Hedge funds | 1,039 | 1 | 71 | 55 | — | 1,166 | |||||||||||||||||||||||||
Private equity | 1,367 | 59 | 54 | 263 | — | 1,743 | |||||||||||||||||||||||||
Real estate | 306 | 16 | 1 | 144 | — | 467 | |||||||||||||||||||||||||
Real assets | 264 | — | 10 | 37 | — | 311 | |||||||||||||||||||||||||
Total limited partnerships | 2,976 | 76 | 136 | 499 | — | 3,687 | |||||||||||||||||||||||||
Corporate debt securities | 2 | — | — | (1 | ) | — | 1 | ||||||||||||||||||||||||
Other | 427 | — | (7 | ) | — | — | 420 | ||||||||||||||||||||||||
Total U.S. defined benefit pension plans | $ | 3,608 | $ | 78 | $ | 150 | $ | 471 | $ | 4 | $ | 4,311 | |||||||||||||||||||
OPEB plans | |||||||||||||||||||||||||||||||
COLI | $ | 1,427 | $ | — | $ | 127 | $ | — | $ | — | $ | 1,554 | |||||||||||||||||||
Total OPEB plans | $ | 1,427 | $ | — | $ | 127 | $ | — | $ | — | $ | 1,554 | |||||||||||||||||||
Year ended December 31, 2011 | Fair value, January 1, 2011 | Actual return on plan assets | Purchases, sales and settlements, net | Transfers in and/or out of level 3 | Fair value, December 31, 2011 | ||||||||||||||||||||||||||
(in millions) | Realized gains/(losses) | Unrealized gains/(losses) | |||||||||||||||||||||||||||||
U.S. defined benefit pension plans | |||||||||||||||||||||||||||||||
Equities | $ | — | $ | — | $ | — | $ | — | $ | 1 | $ | 1 | |||||||||||||||||||
Common/collective trust funds | 194 | 35 | 1 | (28 | ) | — | 202 | ||||||||||||||||||||||||
Limited partnerships: | |||||||||||||||||||||||||||||||
Hedge funds | 1,160 | (16 | ) | 27 | (76 | ) | (56 | ) | 1,039 | ||||||||||||||||||||||
Private equity | 1,232 | 56 | 2 | 77 | — | 1,367 | |||||||||||||||||||||||||
Real estate | 304 | 8 | 40 | 14 | (60 | ) | 306 | ||||||||||||||||||||||||
Real assets | — | 5 | (7 | ) | 150 | 116 | 264 | ||||||||||||||||||||||||
Total limited partnerships | 2,696 | 53 | 62 | 165 | — | 2,976 | |||||||||||||||||||||||||
Corporate debt securities | 1 | — | — | 1 | — | 2 | |||||||||||||||||||||||||
Other | 387 | — | 41 | (1 | ) | — | 427 | ||||||||||||||||||||||||
Total U.S. defined benefit pension plans | $ | 3,278 | $ | 88 | $ | 104 | $ | 137 | $ | 1 | $ | 3,608 | |||||||||||||||||||
OPEB plans | |||||||||||||||||||||||||||||||
COLI | $ | 1,381 | $ | — | $ | 70 | $ | (24 | ) | $ | — | $ | 1,427 | ||||||||||||||||||
Total OPEB plans | $ | 1,381 | $ | — | $ | 70 | $ | (24 | ) | $ | — | $ | 1,427 | ||||||||||||||||||
Estimated future benefit payments | |||||||||||||||||||||||||||||||
The following table presents benefit payments expected to be paid, which include the effect of expected future service, for the years indicated. The OPEB medical and life insurance payments are net of expected retiree contributions. | |||||||||||||||||||||||||||||||
Year ended December 31, | U.S. defined benefit pension plans | Non-U.S. defined benefit pension plans | OPEB before Medicare Part D subsidy | Medicare Part D subsidy | |||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||
2014 | $ | 703 | $ | 112 | $ | 86 | $ | 10 | |||||||||||||||||||||||
2015 | 731 | 118 | 85 | 11 | |||||||||||||||||||||||||||
2016 | 872 | 123 | 83 | 12 | |||||||||||||||||||||||||||
2017 | 907 | 129 | 81 | 12 | |||||||||||||||||||||||||||
2018 | 931 | 140 | 78 | 13 | |||||||||||||||||||||||||||
Years 2019–2023 | 4,139 | 785 | 345 | 47 | |||||||||||||||||||||||||||
Employee_Stock_Based_Incentive
Employee Stock Based Incentives | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||||
Employee stock-based incentives | ' | |||||||||||||||||
Employee stock-based incentives | ||||||||||||||||||
Employee stock-based awards | ||||||||||||||||||
In 2013, 2012 and 2011, JPMorgan Chase granted long-term stock-based awards to certain employees under its Long-Term Incentive Plan, which was last amended in May 2011 (“LTIP”). Under the terms of the LTIP, as of December 31, 2013, 266 million shares of common stock were available for issuance through May 2015. The LTIP is the only active plan under which the Firm is currently granting stock-based incentive awards. In the following discussion, the LTIP, plus prior Firm plans and plans assumed as the result of acquisitions, are referred to collectively as the “LTI Plans,” and such plans constitute the Firm’s stock-based incentive plans. | ||||||||||||||||||
Restricted stock units (“RSUs”) are awarded at no cost to the recipient upon their grant. Generally, RSUs are granted annually and vest at a rate of 50% after two years and 50% after three years and are converted into shares of common stock as of the vesting date. In addition, RSUs typically include full-career eligibility provisions, which allow employees to continue to vest upon voluntary termination, subject to post-employment and other restrictions based on age or service-related requirements. All RSUs awards are subject to forfeiture until vested and contain clawback provisions that may result in cancellation under certain specified circumstances. RSUs entitle the recipient to receive cash payments equivalent to any dividends paid on the underlying common stock during the period the RSUs are outstanding and, as such, are considered participating securities as discussed in Note 24 on page 311 of this Annual Report. | ||||||||||||||||||
Under the LTI Plans, stock options and stock appreciation rights (“SARs”) have generally been granted with an exercise price equal to the fair value of JPMorgan Chase’s common stock on the grant date. The Firm typically awards SARs to certain key employees once per year; the Firm also periodically grants employee stock options and SARs to individual employees. The 2013, 2012 and 2011 grants of SARs become exercisable ratably over five years (i.e., 20% per year) and contain clawback provisions similar to RSUs. The 2013, 2012 and 2011 grants of SARs contain full-career eligibility provisions. SARs generally expire ten years after the grant date. | ||||||||||||||||||
The Firm separately recognizes compensation expense for each tranche of each award as if it were a separate award with its own vesting date. Generally, for each tranche granted, compensation expense is recognized on a straight-line basis from the grant date until the vesting date of the respective tranche, provided that the employees will not become full-career eligible during the vesting period. For awards with full-career eligibility provisions and awards granted with no future substantive service requirement, the Firm accrues the estimated value of awards expected to be awarded to employees as of the grant date without giving consideration to the impact of post-employment restrictions. For each tranche granted to employees who will become full-career eligible during the vesting period, compensation expense is recognized on a straight-line basis from the grant date until the earlier of the employee’s full-career eligibility date or the vesting date of the respective tranche. | ||||||||||||||||||
The Firm’s policy for issuing shares upon settlement of employee stock-based incentive awards is to issue either new shares of common stock or treasury shares. During 2013, 2012 and 2011, the Firm settled all of its employee stock-based awards by issuing treasury shares. | ||||||||||||||||||
In January 2008, the Firm awarded to its Chairman and Chief Executive Officer up to 2 million SARs. The terms of this award are distinct from, and more restrictive than, other equity grants regularly awarded by the Firm. Effective January 2013, the Compensation Committee and Board of Directors determined that, while all the requirements for vesting of these awards have been met, vesting should be deferred for a period of up to 18 months (i.e., up to July 22, 2014), to enable the Firm to make progress against the Firm’s strategic priorities and performance goals, including remediation relating to the CIO matter. The SARs, which will expire in January 2018, will become exercisable no earlier than July 22, 2014, and have an exercise price of $39.83 (the price of JPMorgan Chase common stock on the date of grant). Vesting will be subject to a Board determination taking into consideration the extent of such progress and such other factors as it deems relevant. The expense related to this award is dependent on changes in fair value of the SARs through the date when the vested number of SARs are determined, if any, and the cumulative expense is recognized ratably over the service period, which was initially assumed to be five years but, effective in the first quarter of 2013, has been extended to six and one-half years. The Firm recognized $14 million, $5 million and $(4) million in compensation expense in 2013, 2012 and 2011, respectively, for this award. | ||||||||||||||||||
RSUs, employee stock options and SARs activity | ||||||||||||||||||
Compensation expense for RSUs is measured based on the number of shares granted multiplied by the stock price at the grant date, and for employee stock options and SARs, is measured at the grant date using the Black-Scholes valuation model. Compensation expense for these awards is recognized in net income as described previously. The following table summarizes JPMorgan Chase’s RSUs, employee stock options and SARs activity for 2013. | ||||||||||||||||||
RSUs | Options/SARs | |||||||||||||||||
Year ended December 31, 2013 | Number of | Weighted-average grant | Number of awards | Weighted-average exercise price | Weighted-average remaining contractual life (in years) | Aggregate intrinsic value | ||||||||||||
(in thousands, except weighted-average data, and where otherwise stated) | shares | date fair value | ||||||||||||||||
Outstanding, January 1 | 142,006 | $ | 40.49 | 115,906 | $ | 42.44 | ||||||||||||
Granted | 46,171 | 46.92 | 12,563 | 46.77 | ||||||||||||||
Exercised or vested | (62,331 | ) | 43.28 | (35,825 | ) | 37.32 | ||||||||||||
Forfeited | (4,605 | ) | 40.77 | (4,007 | ) | 39.44 | ||||||||||||
Canceled | NA | NA | (1,562 | ) | 104.49 | |||||||||||||
Outstanding, December 31 | 121,241 | $ | 41.47 | 87,075 | $ | 44.24 | 5.6 | $ | 1,622,238 | |||||||||
Exercisable, December 31 | NA | NA | 46,855 | 47.5 | 4.2 | 904,017 | ||||||||||||
The total fair value of RSUs that vested during the years ended December 31, 2013, 2012 and 2011, was $2.9 billion, $2.8 billion and $5.4 billion, respectively. The weighted-average grant date per share fair value of stock options and SARs granted during the years ended December 31, 2013, 2012 and 2011, was $9.58, $8.89 and $13.04, respectively. The total intrinsic value of options exercised during the years ended December 31, 2013, 2012 and 2011, was $507 million, $283 million and $191 million, respectively. | ||||||||||||||||||
Compensation expense | ||||||||||||||||||
The Firm recognized the following noncash compensation expense related to its various employee stock-based incentive plans in its Consolidated Statements of Income. | ||||||||||||||||||
Year ended December 31, (in millions) | 2013 | 2012 | 2011 | |||||||||||||||
Cost of prior grants of RSUs and SARs that are amortized over their applicable vesting periods | $ | 1,440 | $ | 1,810 | $ | 1,986 | ||||||||||||
Accrual of estimated costs of RSUs and SARs to be granted in future periods including those to full-career eligible employees | 779 | 735 | 689 | |||||||||||||||
Total noncash compensation expense related to employee stock-based incentive plans | $ | 2,219 | $ | 2,545 | $ | 2,675 | ||||||||||||
At December 31, 2013, approximately $848 million (pretax) of compensation cost related to unvested awards had not yet been charged to net income. That cost is expected to be amortized into compensation expense over a weighted-average period of 1.0 year. The Firm does not capitalize any compensation cost related to share-based compensation awards to employees. | ||||||||||||||||||
Cash flows and tax benefits | ||||||||||||||||||
Income tax benefits related to stock-based incentive arrangements recognized in the Firm’s Consolidated Statements of Income for the years ended December 31, 2013, 2012 and 2011, were $865 million, $1.0 billion and $1.0 billion, respectively. | ||||||||||||||||||
The following table sets forth the cash received from the exercise of stock options under all stock-based incentive arrangements, and the actual income tax benefit realized related to tax deductions from the exercise of the stock options. | ||||||||||||||||||
Year ended December 31, (in millions) | 2013 | 2012 | 2011 | |||||||||||||||
Cash received for options exercised | $ | 166 | $ | 333 | $ | 354 | ||||||||||||
Tax benefit realized(a) | 42 | 53 | 31 | |||||||||||||||
(a) | The tax benefit realized from dividends or dividend equivalents paid on equity-classified share-based payment awards that are charged to retained earnings are recorded as an increase to additional paid-in capital and included in the pool of excess tax benefits available to absorb tax deficiencies on share-based payment awards. | |||||||||||||||||
Valuation assumptions | ||||||||||||||||||
The following table presents the assumptions used to value employee stock options and SARs granted during the years ended December 31, 2013, 2012 and 2011, under the Black-Scholes valuation model. | ||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||
Weighted-average annualized valuation assumptions | ||||||||||||||||||
Risk-free interest rate | 1.18 | % | 1.19 | % | 2.58 | % | ||||||||||||
Expected dividend yield | 2.66 | 3.15 | 2.2 | |||||||||||||||
Expected common stock price volatility | 28 | 35 | 34 | |||||||||||||||
Expected life (in years) | 6.6 | 6.6 | 6.5 | |||||||||||||||
The expected dividend yield is determined using forward-looking assumptions. The expected volatility assumption is derived from the implied volatility of JPMorgan Chase’s stock options. The expected life assumption is an estimate of the length of time that an employee might hold an option or SAR before it is exercised or canceled, and the assumption is based on the Firm’s historical experience. |
Noninterest_Expense
Noninterest Expense | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Noninterest Expense [Abstract] | ' | |||||||||||
Noninterest expense | ' | |||||||||||
Noninterest expense | ||||||||||||
The following table presents the components of noninterest expense. | ||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||
(in millions) | ||||||||||||
Compensation expense | $ | 30,810 | $ | 30,585 | $ | 29,037 | ||||||
Noncompensation expense: | ||||||||||||
Occupancy expense | 3,693 | 3,925 | 3,895 | |||||||||
Technology, communications and equipment expense | 5,425 | 5,224 | 4,947 | |||||||||
Professional and outside services | 7,641 | 7,429 | 7,482 | |||||||||
Marketing | 2,500 | 2,577 | 3,143 | |||||||||
Other expense(a)(b) | 19,761 | 14,032 | 13,559 | |||||||||
Amortization of intangibles | 637 | 957 | 848 | |||||||||
Total noncompensation expense | 39,657 | 34,144 | 33,874 | |||||||||
Total noninterest expense | $ | 70,467 | $ | 64,729 | $ | 62,911 | ||||||
(a) | Included firmwide legal expense of $11.1 billion, $5.0 billion and $4.9 billion for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||
(b) | Included FDIC-related expense of $1.5 billion, $1.7 billion and $1.5 billion for the years ended December 31, 2013, 2012 and 2011, respectively. |
Securities
Securities | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||||||
Securities | ' | |||||||||||||||||||||||||||
Securities | ||||||||||||||||||||||||||||
Securities are classified as AFS, held-to-maturity (“HTM”) or trading. Securities classified as trading assets are discussed in Note 3 on pages 195–215 of this Annual Report. Predominantly all of the Firm’s AFS and HTM investment securities (the “investment securities portfolio”) is held by CIO in connection with its asset-liability management objectives. At December 31, 2013, the average credit rating of the debt securities comprising the investment securities portfolio was AA+ (based upon external ratings where available, and where not available, based primarily upon internal ratings which correspond to ratings as defined by S&P and Moody’s). AFS securities are carried at fair value on the Consolidated Balance Sheets. Unrealized gains and losses, after any applicable hedge accounting adjustments, are reported as net increases or decreases to accumulated other comprehensive income/(loss). The specific identification method is used to determine realized gains and losses on AFS securities, which are included in securities gains/(losses) on the Consolidated Statements of Income. HTM debt securities, which management has the intent and ability to hold until maturity, are carried at amortized cost on the Consolidated Balance Sheets. For both AFS and HTM debt securities, purchase discounts or premiums are amortized into interest income. | ||||||||||||||||||||||||||||
Other-than-temporary impairment | ||||||||||||||||||||||||||||
AFS debt and equity securities and HTM debt securities in unrealized loss positions are analyzed as part of the Firm’s ongoing assessment of other-than-temporary impairment (“OTTI”). For most types of debt securities, the Firm considers a decline in fair value to be other-than-temporary when the Firm does not expect to recover the entire amortized cost basis of the security. For beneficial interests in securitizations that are rated below “AA” at their acquisition, or that can be contractually prepaid or otherwise settled in such a way that the Firm would not recover substantially all of its recorded investment, the Firm considers an OTTI to have occurred when there is an adverse change in expected cash flows. For AFS equity securities, the Firm considers a decline in fair value to be other-than-temporary if it is probable that the Firm will not recover its amortized cost basis. | ||||||||||||||||||||||||||||
Potential OTTI is considered using a variety of factors, including the length of time and extent to which the market value has been less than cost; adverse conditions specifically related to the industry, geographic area or financial condition of the issuer or underlying collateral of a security; payment structure of the security; changes to the rating of the security by a rating agency; the volatility of the fair value changes; and the Firm’s intent and ability to hold the security until recovery. | ||||||||||||||||||||||||||||
For AFS debt securities, the Firm recognizes OTTI losses in earnings if the Firm has the intent to sell the debt security, or if it is more likely than not that the Firm will be required to sell the debt security before recovery of its amortized cost basis. In these circumstances the impairment loss is equal to the full difference between the amortized cost basis and the fair value of the securities. For debt securities in an unrealized loss position, including AFS securities the Firm has the intent and ability to hold, the expected cash flows to be received from the securities are evaluated to determine if a credit loss exists. In the event of a credit loss, only the amount of impairment associated with the credit loss is recognized in income. Amounts relating to factors other than credit losses are recorded in OCI. | ||||||||||||||||||||||||||||
The Firm’s cash flow evaluations take into account the factors noted above and expectations of relevant market and economic data as of the end of the reporting period. For securities issued in a securitization, the Firm estimates cash flows considering underlying loan-level data and structural features of the securitization, such as subordination, excess spread, overcollateralization or other forms of credit enhancement, and compares the losses projected for the underlying collateral (“pool losses”) against the level of credit enhancement in the securitization structure to determine whether these features are sufficient to absorb the pool losses, or whether a credit loss exists. The Firm also performs other analyses to support its cash flow projections, such as first-loss analyses or stress scenarios. | ||||||||||||||||||||||||||||
For equity securities, OTTI losses are recognized in earnings if the Firm intends to sell the security. In other cases the Firm considers the relevant factors noted above, as well as the Firm’s intent and ability to retain its investment for a period of time sufficient to allow for any anticipated recovery in market value, and whether evidence exists to support a realizable value equal to or greater than the carrying value. Any impairment loss on an equity security is equal to the full difference between the amortized cost basis and the fair value of the security. | ||||||||||||||||||||||||||||
Realized gains and losses | ||||||||||||||||||||||||||||
The following table presents realized gains and losses and credit losses that were recognized in income from AFS securities. | ||||||||||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
Realized gains | $ | 1,302 | $ | 2,610 | $ | 1,811 | ||||||||||||||||||||||
Realized losses | (614 | ) | (457 | ) | (142 | ) | ||||||||||||||||||||||
Net realized gains(a) | 688 | 2,153 | 1,669 | |||||||||||||||||||||||||
OTTI losses | ||||||||||||||||||||||||||||
Credit-related | (1 | ) | (28 | ) | (76 | ) | ||||||||||||||||||||||
Securities the Firm intends to sell | (20 | ) | (b) | (15 | ) | (b) | — | |||||||||||||||||||||
Total OTTI losses recognized in income | (21 | ) | (43 | ) | (76 | ) | ||||||||||||||||||||||
Net securities gains | $ | 667 | $ | 2,110 | $ | 1,593 | ||||||||||||||||||||||
(a) | Proceeds from securities sold were within approximately 2% of amortized cost in 2013, and within approximately 4% of amortized cost in 2012 and 2011. | |||||||||||||||||||||||||||
(b) | Excludes realized losses of $12 million and $24 million for the years ended December 31, 2013 and 2012, respectively that had been previously reported as an OTTI loss due to the intention to sell the securities. | |||||||||||||||||||||||||||
The amortized costs and estimated fair values of the investment securities portfolio were as follows for the dates indicated. | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
December 31, (in millions) | Amortized cost | Gross unrealized gains | Gross unrealized losses | Fair | Amortized cost | Gross unrealized gains | Gross unrealized losses | Fair | ||||||||||||||||||||
value | value | |||||||||||||||||||||||||||
Available-for-sale debt securities | ||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||
U.S. government agencies(a) | $ | 76,428 | $ | 2,364 | $ | 977 | $ | 77,815 | $ | 93,693 | $ | 4,708 | $ | 13 | $ | 98,388 | ||||||||||||
Residential: | ||||||||||||||||||||||||||||
Prime and Alt-A | 2,744 | 61 | 27 | 2,778 | 1,853 | 83 | 3 | 1,933 | ||||||||||||||||||||
Subprime | 908 | 23 | 1 | 930 | 825 | 28 | — | 853 | ||||||||||||||||||||
Non-U.S. | 57,448 | 1,314 | 1 | 58,761 | 70,358 | 1,524 | 29 | 71,853 | ||||||||||||||||||||
Commercial | 15,891 | 560 | 26 | 16,425 | 12,268 | 948 | 13 | 13,203 | ||||||||||||||||||||
Total mortgage-backed securities | 153,419 | 4,322 | 1,032 | 156,709 | 178,997 | 7,291 | 58 | 186,230 | ||||||||||||||||||||
U.S. Treasury and government agencies(a) | 21,310 | 385 | 306 | 21,389 | 12,022 | 116 | 8 | 12,130 | ||||||||||||||||||||
Obligations of U.S. states and municipalities | 29,741 | 707 | 987 | 29,461 | 19,876 | 1,845 | 10 | 21,711 | ||||||||||||||||||||
Certificates of deposit | 1,041 | 1 | 1 | 1,041 | 2,781 | 4 | 2 | 2,783 | ||||||||||||||||||||
Non-U.S. government debt securities | 55,507 | 863 | 122 | 56,248 | 65,168 | 901 | 25 | 66,044 | ||||||||||||||||||||
Corporate debt securities | 21,043 | 498 | 29 | 21,512 | 37,999 | 694 | 84 | 38,609 | ||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||
Collateralized loan obligations | 28,130 | 236 | 136 | 28,230 | 27,483 | 465 | 52 | 27,896 | ||||||||||||||||||||
Other | 12,062 | 186 | 3 | 12,245 | 12,816 | 166 | 11 | 12,971 | ||||||||||||||||||||
Total available-for-sale debt securities | 322,253 | 7,198 | 2,616 | 326,835 | 357,142 | 11,482 | 250 | 368,374 | ||||||||||||||||||||
Available-for-sale equity securities | 3,125 | 17 | — | 3,142 | 2,750 | 21 | — | 2,771 | ||||||||||||||||||||
Total available-for-sale securities | $ | 325,378 | $ | 7,215 | $ | 2,616 | $ | 329,977 | $ | 359,892 | $ | 11,503 | $ | 250 | $ | 371,145 | ||||||||||||
Total held-to-maturity securities(b) | $ | 24,026 | $ | 22 | $ | 317 | $ | 23,731 | $ | 7 | $ | 1 | $ | — | $ | 8 | ||||||||||||
(a) | Includes total U.S. government-sponsored enterprise obligations with fair values of $67.0 billion and $84.0 billion at December 31, 2013 and 2012, respectively, which were predominantly mortgage-related. | |||||||||||||||||||||||||||
(b) | As of December 31, 2013, consists of MBS issued by U.S. government-sponsored enterprises with an amortized cost of $23.1 billion and obligations of U.S. states and municipalities with an amortized cost of $920 million. | |||||||||||||||||||||||||||
Securities impairment | ||||||||||||||||||||||||||||
The following tables present the fair value and gross unrealized losses for the investment securities portfolio by aging category at December 31, 2013 and 2012. | ||||||||||||||||||||||||||||
Securities with gross unrealized losses | ||||||||||||||||||||||||||||
Less than 12 months | 12 months or more | |||||||||||||||||||||||||||
December 31, 2013 (in millions) | Fair value | Gross unrealized losses | Fair value | Gross unrealized losses | Total fair value | Total gross unrealized losses | ||||||||||||||||||||||
Available-for-sale debt securities | ||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||
U.S. government agencies | $ | 20,293 | $ | 895 | $ | 1,150 | $ | 82 | $ | 21,443 | $ | 977 | ||||||||||||||||
Residential: | ||||||||||||||||||||||||||||
Prime and Alt-A | 1,061 | 27 | — | — | 1,061 | 27 | ||||||||||||||||||||||
Subprime | 152 | 1 | — | — | 152 | 1 | ||||||||||||||||||||||
Non-U.S. | — | — | 158 | 1 | 158 | 1 | ||||||||||||||||||||||
Commercial | 3,980 | 26 | — | — | 3,980 | 26 | ||||||||||||||||||||||
Total mortgage-backed securities | 25,486 | 949 | 1,308 | 83 | 26,794 | 1,032 | ||||||||||||||||||||||
U.S. Treasury and government agencies | 6,293 | 250 | 237 | 56 | 6,530 | 306 | ||||||||||||||||||||||
Obligations of U.S. states and municipalities | 15,387 | 975 | 55 | 12 | 15,442 | 987 | ||||||||||||||||||||||
Certificates of deposit | 988 | 1 | — | — | 988 | 1 | ||||||||||||||||||||||
Non-U.S. government debt securities | 11,286 | 110 | 821 | 12 | 12,107 | 122 | ||||||||||||||||||||||
Corporate debt securities | 1,580 | 21 | 505 | 8 | 2,085 | 29 | ||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||
Collateralized loan obligations | 18,369 | 129 | 393 | 7 | 18,762 | 136 | ||||||||||||||||||||||
Other | 1,114 | 3 | — | — | 1,114 | 3 | ||||||||||||||||||||||
Total available-for-sale debt securities | 80,503 | 2,438 | 3,319 | 178 | 83,822 | 2,616 | ||||||||||||||||||||||
Available-for-sale equity securities | — | — | — | — | — | — | ||||||||||||||||||||||
Held-to-maturity securities | 20,745 | 317 | — | — | 20,745 | 317 | ||||||||||||||||||||||
Total securities with gross unrealized losses | $ | 101,248 | $ | 2,755 | $ | 3,319 | $ | 178 | $ | 104,567 | $ | 2,933 | ||||||||||||||||
Securities with gross unrealized losses | ||||||||||||||||||||||||||||
Less than 12 months | 12 months or more | |||||||||||||||||||||||||||
December 31, 2012 (in millions) | Fair value | Gross unrealized losses | Fair value | Gross unrealized losses | Total fair value | Total gross unrealized losses | ||||||||||||||||||||||
Available-for-sale debt securities | ||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||
U.S. government agencies | $ | 2,440 | $ | 13 | $ | — | $ | — | $ | 2,440 | $ | 13 | ||||||||||||||||
Residential: | ||||||||||||||||||||||||||||
Prime and Alt-A | 218 | 2 | 76 | 1 | 294 | 3 | ||||||||||||||||||||||
Subprime | — | — | — | — | — | — | ||||||||||||||||||||||
Non-U.S. | 2,442 | 6 | 734 | 23 | 3,176 | 29 | ||||||||||||||||||||||
Commercial | 1,159 | 8 | 312 | 5 | 1,471 | 13 | ||||||||||||||||||||||
Total mortgage-backed securities | 6,259 | 29 | 1,122 | 29 | 7,381 | 58 | ||||||||||||||||||||||
U.S. Treasury and government agencies | 4,198 | 8 | — | — | 4,198 | 8 | ||||||||||||||||||||||
Obligations of U.S. states and municipalities | 907 | 10 | — | — | 907 | 10 | ||||||||||||||||||||||
Certificates of deposit | 741 | 2 | — | — | 741 | 2 | ||||||||||||||||||||||
Non-U.S. government debt securities | 14,527 | 21 | 1,927 | 4 | 16,454 | 25 | ||||||||||||||||||||||
Corporate debt securities | 2,651 | 10 | 5,641 | 74 | 8,292 | 84 | ||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||
Collateralized loan obligations | 6,328 | 17 | 2,063 | 35 | 8,391 | 52 | ||||||||||||||||||||||
Other | 2,076 | 7 | 275 | 4 | 2,351 | 11 | ||||||||||||||||||||||
Total available-for-sale debt securities | 37,687 | 104 | 11,028 | 146 | 48,715 | 250 | ||||||||||||||||||||||
Available-for-sale equity securities | — | — | — | — | — | — | ||||||||||||||||||||||
Held-to-maturity securities | — | — | — | — | — | — | ||||||||||||||||||||||
Total securities with gross unrealized losses | $ | 37,687 | $ | 104 | $ | 11,028 | $ | 146 | $ | 48,715 | $ | 250 | ||||||||||||||||
Other-than-temporary impairment | ||||||||||||||||||||||||||||
The following table presents OTTI losses that are included in the securities gains and losses table above. | ||||||||||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
Debt securities the Firm does not intend to sell that have credit losses | ||||||||||||||||||||||||||||
Total OTTI(a) | $ | (1 | ) | $ | (113 | ) | $ | (27 | ) | |||||||||||||||||||
Losses recorded in/(reclassified from) AOCI | — | 85 | (49 | ) | ||||||||||||||||||||||||
Total credit losses recognized in income(b) | (1 | ) | (28 | ) | (76 | ) | ||||||||||||||||||||||
Securities the Firm intends to sell | (20 | ) | (c) | (15 | ) | (c) | — | |||||||||||||||||||||
Total OTTI losses recognized in income | $ | (21 | ) | $ | (43 | ) | $ | (76 | ) | |||||||||||||||||||
(a) | For initial OTTI, represents the excess of the amortized cost over the fair value of AFS debt securities. For subsequent impairments of the same security, represents additional declines in fair value subsequent to previously recorded OTTI, if applicable. | |||||||||||||||||||||||||||
(b) | Subsequent credit losses may be recorded on securities without a corresponding further decline in fair value if there has been a decline in expected cash flows. | |||||||||||||||||||||||||||
(c) | Excludes realized losses of $12 million and $24 million for the years ended December 31, 2013 and 2012, respectively that had been previously reported as an OTTI loss due to the intention to sell the securities. | |||||||||||||||||||||||||||
Changes in the credit loss component of credit-impaired debt securities | ||||||||||||||||||||||||||||
The following table presents a rollforward for the years ended December 31, 2013, 2012 and 2011, of the credit loss component of OTTI losses that have been recognized in income, related to AFS debt securities that the Firm does not intend to sell. | ||||||||||||||||||||||||||||
Year ended December 31, (in millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Balance, beginning of period | $ | 522 | $ | 708 | $ | 632 | ||||||||||||||||||||||
Additions: | ||||||||||||||||||||||||||||
Newly credit-impaired securities | 1 | 21 | 4 | |||||||||||||||||||||||||
Losses reclassified from other comprehensive income on previously credit-impaired securities | — | 7 | 72 | |||||||||||||||||||||||||
Reductions: | ||||||||||||||||||||||||||||
Sales and redemptions of credit-impaired securities | (522 | ) | (214 | ) | — | |||||||||||||||||||||||
Balance, end of period | $ | 1 | $ | 522 | $ | 708 | ||||||||||||||||||||||
Gross unrealized losses | ||||||||||||||||||||||||||||
Gross unrealized losses, including those that have been in an unrealized loss position for 12 months or more, have generally increased since December 31, 2012. The Firm has recognized the unrealized losses on securities it intends to sell. As of December 31, 2013, the Firm does not intend to sell any securities with a loss position in AOCI, and it is not likely that the Firm will be required to sell these securities before recovery of their amortized cost basis. Except for the securities reported in the table above for which credit losses have been recognized in income, the Firm believes that the securities with an unrealized loss in AOCI are not other-than-temporarily impaired as of December 31, 2013. | ||||||||||||||||||||||||||||
Contractual maturities and yields | ||||||||||||||||||||||||||||
The following table presents the amortized cost and estimated fair value at December 31, 2013, of JPMorgan Chase’s investment securities portfolio by contractual maturity. | ||||||||||||||||||||||||||||
By remaining maturity | Due in one | Due after one year through five years | Due after five years through 10 years | Due after | Total | |||||||||||||||||||||||
31-Dec-13 | year or less | 10 years(c) | ||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
Available-for-sale debt securities | ||||||||||||||||||||||||||||
Mortgage-backed securities(a) | ||||||||||||||||||||||||||||
Amortized cost | $ | 209 | $ | 13,689 | $ | 8,239 | $ | 131,282 | $ | 153,419 | ||||||||||||||||||
Fair value | 210 | 14,117 | 8,489 | 133,893 | 156,709 | |||||||||||||||||||||||
Average yield(b) | 2.17 | % | 2.1 | % | 2.83 | % | 2.93 | % | 2.85 | % | ||||||||||||||||||
U.S. Treasury and government agencies(a) | ||||||||||||||||||||||||||||
Amortized cost | $ | 8,781 | $ | 10,246 | $ | 1,425 | $ | 858 | $ | 21,310 | ||||||||||||||||||
Fair value | 8,792 | 10,257 | 1,425 | 915 | 21,389 | |||||||||||||||||||||||
Average yield(b) | 0.36 | % | 0.39 | % | 0.34 | % | 0.59 | % | 0.38 | % | ||||||||||||||||||
Obligations of U.S. states and municipalities | ||||||||||||||||||||||||||||
Amortized cost | $ | 57 | $ | 479 | $ | 1,644 | $ | 27,561 | $ | 29,741 | ||||||||||||||||||
Fair value | 58 | 505 | 1,664 | 27,234 | 29,461 | |||||||||||||||||||||||
Average yield(b) | 3.12 | % | 4.91 | % | 4.27 | % | 6.19 | % | 6.06 | % | ||||||||||||||||||
Certificates of deposit | ||||||||||||||||||||||||||||
Amortized cost | $ | 990 | $ | 51 | $ | — | $ | — | $ | 1,041 | ||||||||||||||||||
Fair value | 988 | 53 | — | — | 1,041 | |||||||||||||||||||||||
Average yield(b) | 6.37 | % | 3.28 | % | — | % | — | % | 6.22 | % | ||||||||||||||||||
Non-U.S. government debt securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 11,210 | $ | 16,999 | $ | 24,735 | $ | 2,563 | $ | 55,507 | ||||||||||||||||||
Fair value | 11,223 | 17,191 | 25,166 | 2,668 | 56,248 | |||||||||||||||||||||||
Average yield(b) | 2.72 | % | 2.26 | % | 1.39 | % | 1.64 | % | 1.94 | % | ||||||||||||||||||
Corporate debt securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 2,871 | $ | 12,318 | $ | 5,854 | $ | — | $ | 21,043 | ||||||||||||||||||
Fair value | 2,873 | 12,638 | 6,001 | — | 21,512 | |||||||||||||||||||||||
Average yield(b) | 1.94 | % | 2.41 | % | 2.6 | % | — | % | 2.4 | % | ||||||||||||||||||
Asset-backed securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 42 | $ | 2,412 | $ | 15,135 | $ | 22,603 | $ | 40,192 | ||||||||||||||||||
Fair value | 42 | 2,438 | 15,258 | 22,737 | 40,475 | |||||||||||||||||||||||
Average yield(b) | 2.17 | % | 1.98 | % | 1.74 | % | 1.8 | % | 1.79 | % | ||||||||||||||||||
Total available-for-sale debt securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 24,160 | $ | 56,194 | $ | 57,032 | $ | 184,867 | $ | 322,253 | ||||||||||||||||||
Fair value | 24,186 | 57,199 | 58,003 | 187,447 | 326,835 | |||||||||||||||||||||||
Average yield(b) | 1.91 | % | 1.93 | % | 1.87 | % | 3.25 | % | 2.67 | % | ||||||||||||||||||
Available-for-sale equity securities | ||||||||||||||||||||||||||||
Amortized cost | $ | — | $ | — | $ | — | $ | 3,125 | $ | 3,125 | ||||||||||||||||||
Fair value | — | — | — | 3,142 | 3,142 | |||||||||||||||||||||||
Average yield(b) | — | % | — | % | — | % | 0.2 | % | 0.2 | % | ||||||||||||||||||
Total available-for-sale securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 24,160 | $ | 56,194 | $ | 57,032 | $ | 187,992 | $ | 325,378 | ||||||||||||||||||
Fair value | 24,186 | 57,199 | 58,003 | 190,589 | 329,977 | |||||||||||||||||||||||
Average yield(b) | 1.91 | % | 1.93 | % | 1.87 | % | 3.2 | % | 2.65 | % | ||||||||||||||||||
Total held-to-maturity securities | ||||||||||||||||||||||||||||
Amortized cost | $ | — | $ | 3 | $ | 1 | $ | 24,022 | $ | 24,026 | ||||||||||||||||||
Fair value | — | 4 | 1 | 23,726 | 23,731 | |||||||||||||||||||||||
Average yield(b) | — | % | 6.86 | % | 6.48 | % | 3.53 | % | 3.53 | % | ||||||||||||||||||
(a) | U.S. government-sponsored enterprises were the only issuers whose securities exceeded 10% of JPMorgan Chase’s total stockholders’ equity at December 31, 2013. | |||||||||||||||||||||||||||
(b) | Average yield is computed using the effective yield of each security owned at the end of the period, weighted based on the amortized cost of each security. The effective yield considers the contractual coupon, amortization of premiums and accretion of discounts, and the effect of related hedging derivatives. Taxable-equivalent amounts are used where applicable. The effective yield excludes unscheduled principal prepayments; and accordingly, actual maturities of securities may differ from their contractual or expected maturities as certain securities may be prepaid. | |||||||||||||||||||||||||||
(c) | Includes securities with no stated maturity. Substantially all of the Firm’s residential mortgage-backed securities and collateralized mortgage obligations are due in 10 years or more, based on contractual maturity. The estimated duration, which reflects anticipated future prepayments based on a consensus of dealers in the market, is approximately five years for agency residential mortgage-backed securities, two years for agency residential collateralized mortgage obligations and three years for nonagency residential collateralized mortgage obligations. |
Securities_Financing_Activitie
Securities Financing Activities | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Securities Financing Transactions Disclosures [Abstract] | ' | |||||||||||||||||||||||||||
Securities financing activities | ' | |||||||||||||||||||||||||||
Securities financing activities | ||||||||||||||||||||||||||||
JPMorgan Chase enters into resale agreements, repurchase agreements, securities borrowed transactions and securities loaned transactions (collectively, “securities financing agreements”) primarily to finance the Firm’s inventory positions, acquire securities to cover short positions, accommodate customers’ financing needs, and settle other securities obligations. | ||||||||||||||||||||||||||||
Securities financing agreements are treated as collateralized financings on the Firm’s Consolidated Balance Sheets. Resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased. Securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received. Where appropriate under applicable accounting guidance, resale and repurchase agreements with the same counterparty are reported on a net basis. For further discussion of the offsetting of assets and liabilities, see Note 1 on pages 189–191 of this Annual Report. Fees received and paid in connection with securities financing agreements are recorded in interest income and interest expense on the Consolidated Statements of Income. | ||||||||||||||||||||||||||||
The Firm has elected the fair value option for certain securities financing agreements. For further information regarding the fair value option, see Note 4 on pages 215–218 of this Annual Report. The securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements; securities loaned or sold under repurchase agreements; and securities borrowed on the Consolidated Balance Sheets. Generally, for agreements carried at fair value, current-period interest accruals are recorded within interest income and interest expense, with changes in fair value reported in principal transactions revenue. However, for financial instruments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments, all changes in fair value, including any interest elements, are reported in principal transactions revenue. | ||||||||||||||||||||||||||||
The following table presents as of December 31, 2013 and 2012, the gross and net securities purchased under resale agreements and securities borrowed. Securities purchased under resale agreements have been presented on the Consolidated Balance Sheets net of securities sold under repurchase agreements where the Firm has obtained an appropriate legal opinion with respect to the master netting agreement, and where the other relevant criteria have been met. Where such a legal opinion has not been either sought or obtained, the securities purchased under resale agreements are not eligible for netting and are shown separately in the table below. Securities borrowed are presented on a gross basis on the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
December 31, (in millions) | Gross asset balance | Amounts netted on the Consolidated Balance Sheets | Net asset balance | Gross asset balance | Amounts netted on the Consolidated Balance Sheets | Net asset balance | ||||||||||||||||||||||
Securities purchased under resale agreements | ||||||||||||||||||||||||||||
Securities purchased under resale agreements with an appropriate legal opinion | $ | 354,814 | $ | (115,408 | ) | $ | 239,406 | $ | 381,377 | $ | (96,947 | ) | $ | 284,430 | ||||||||||||||
Securities purchased under resale agreements where an appropriate legal opinion has not been either sought or obtained | 8,279 | 8,279 | 10,983 | 10,983 | ||||||||||||||||||||||||
Total securities purchased under resale agreements | $ | 363,093 | $ | (115,408 | ) | $ | 247,685 | (a) | $ | 392,360 | $ | (96,947 | ) | $ | 295,413 | (a) | ||||||||||||
Securities borrowed | $ | 111,465 | N/A | $ | 111,465 | (b)(c) | $ | 119,017 | N/A | $ | 119,017 | (b)(c) | ||||||||||||||||
(a) | At December 31, 2013 and 2012, included securities purchased under resale agreements of $25.1 billion and $24.3 billion, respectively, accounted for at fair value. | |||||||||||||||||||||||||||
(b) | At December 31, 2013 and 2012, included securities borrowed of $3.7 billion and $10.2 billion, respectively, accounted for at fair value. | |||||||||||||||||||||||||||
(c) | Included $26.9 billion and $28.4 billion at December 31, 2013 and 2012, respectively, of securities borrowed where an appropriate legal opinion has not been either sought or obtained with respect to the master netting agreement. The prior period amounts have been revised with a corresponding impact in the table below. This revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | |||||||||||||||||||||||||||
The following table presents information as of December 31, 2013 and 2012, regarding the securities purchased under resale agreements and securities borrowed for which an appropriate legal opinion has been obtained with respect to the master netting agreement. The below table excludes information related to resale agreements and securities borrowed where such a legal opinion has not been either sought or obtained. | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
Amounts not nettable on the Consolidated Balance Sheets(a) | Amounts not nettable on the Consolidated Balance Sheets(a) | |||||||||||||||||||||||||||
December 31, (in millions) | Net asset balance | Financial instruments(b) | Cash collateral | Net exposure | Net asset balance | Financial instruments(b) | Cash collateral | Net exposure | ||||||||||||||||||||
Securities purchased under resale agreements with an appropriate legal opinion | $ | 239,406 | $ | (234,495 | ) | $ | (98 | ) | $ | 4,813 | $ | 284,430 | $ | (282,468 | ) | $ | (998 | ) | $ | 964 | ||||||||
Securities borrowed | $ | 84,531 | $ | (81,127 | ) | $ | — | $ | 3,404 | $ | 90,609 | $ | (87,651 | ) | $ | — | $ | 2,958 | ||||||||||
(a) | For some counterparties, the sum of the financial instruments and cash collateral not nettable on the Consolidated Balance Sheets may exceed the net asset balance. Where this is the case the total amounts reported in these two columns are limited to the balance of the net reverse repurchase agreement or securities borrowed asset with that counterparty. As a result a net exposure amount is reported even though the Firm, on an aggregate basis for its securities purchased under resale agreements and securities borrowed, has received securities collateral with a total fair value that is greater than the funds provided to counterparties. | |||||||||||||||||||||||||||
(b) | Includes financial instrument collateral received, repurchase liabilities and securities loaned liabilities with an appropriate legal opinion with respect to the master netting agreement; these amounts are not presented net on the Consolidated Balance Sheets because other U.S. GAAP netting criteria are not met. | |||||||||||||||||||||||||||
The following table presents as of December 31, 2013 and 2012, the gross and net securities sold under repurchase agreements and securities loaned. Securities sold under repurchase agreements have been presented on the Consolidated Balance Sheets net of securities purchased under resale agreements where the Firm has obtained an appropriate legal opinion with respect to the master netting agreement, and where the other relevant criteria have been met. Where such a legal opinion has not been either sought or obtained, the securities sold under repurchase agreements are not eligible for netting and are shown separately in the table below. Securities loaned are presented on a gross basis on the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
December 31, (in millions) | Gross liability balance | Amounts netted on the Consolidated Balance Sheets | Net liability balance | Gross liability balance | Amounts netted on the Consolidated Balance Sheets | Net liability balance | ||||||||||||||||||||||
Securities sold under repurchase agreements | ||||||||||||||||||||||||||||
Securities sold under repurchase agreements with an appropriate legal opinion | $ | 261,265 | $ | (115,408 | ) | $ | 145,857 | $ | 301,352 | $ | (96,947 | ) | $ | 204,405 | ||||||||||||||
Securities sold under repurchase agreements where an appropriate legal opinion has not been either sought or obtained(a) | 14,508 | 14,508 | 11,155 | 11,155 | ||||||||||||||||||||||||
Total securities sold under repurchase agreements | $ | 275,773 | $ | (115,408 | ) | $ | 160,365 | (c) | $ | 312,507 | $ | (96,947 | ) | $ | 215,560 | (c) | ||||||||||||
Securities loaned(b) | $ | 25,769 | N/A | $ | 25,769 | (d)(e) | $ | 30,458 | N/A | $ | 30,458 | (d)(e) | ||||||||||||||||
(a) | Includes repurchase agreements that are not subject to a master netting agreement but do provide rights to collateral. | |||||||||||||||||||||||||||
(b) | Included securities-for-securities borrow vs. pledge transactions of $5.8 billion and $6.9 billion at December 31, 2013 and 2012, respectively, when acting as lender and as presented within other liabilities in the Consolidated Balance Sheets. | |||||||||||||||||||||||||||
(c) | At December 31, 2013 and 2012, included securities sold under repurchase agreements of $4.9 billion and $3.9 billion, respectively, accounted for at fair value. | |||||||||||||||||||||||||||
(d) | At December 31, 2013 and 2012, included securities loaned of $483 million and $457 million, respectively, accounted for at fair value. | |||||||||||||||||||||||||||
(e) | Included $397 million and $889 million at December 31, 2013 and 2012, respectively, of securities loaned where an appropriate legal opinion has not been either sought or obtained with respect to the master netting agreement. | |||||||||||||||||||||||||||
The following table presents information as of December 31, 2013 and 2012, regarding the securities sold under repurchase agreements and securities loaned for which an appropriate legal opinion has been obtained with respect to the master netting agreement. The below table excludes information related to repurchase agreements and securities loaned where such a legal opinion has not been either sought or obtained. | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
Amounts not nettable on the Consolidated balance sheets(a) | Amounts not nettable on the Consolidated balance sheets(a) | |||||||||||||||||||||||||||
December 31, (in millions) | Net liability balance | Financial instruments(b) | Cash collateral | Net amount(c) | Net liability balance | Financial instruments(b) | Cash collateral | Net amount(c) | ||||||||||||||||||||
Securities sold under repurchase agreements with an appropriate legal opinion | $ | 145,857 | $ | (142,686 | ) | $ | (450 | ) | $ | 2,721 | $ | 204,405 | $ | (202,925 | ) | $ | (162 | ) | $ | 1,318 | ||||||||
Securities loaned | $ | 25,372 | $ | (25,125 | ) | $ | — | $ | 247 | $ | 29,569 | $ | (28,465 | ) | $ | — | $ | 1,104 | ||||||||||
(a) | For some counterparties the sum of the financial instruments and cash collateral not nettable on the Consolidated Balance Sheets may exceed the net liability balance. Where this is the case the total amounts reported in these two columns are limited to the balance of the net repurchase agreement or securities loaned liability with that counterparty. | |||||||||||||||||||||||||||
(b) | Includes financial instrument collateral transferred, reverse repurchase assets and securities borrowed assets with an appropriate legal opinion with respect to the master netting agreement; these amounts are not presented net on the Consolidated Balance Sheets because other U.S. GAAP netting criteria are not met. | |||||||||||||||||||||||||||
(c) | Net amount represents exposure of counterparties to the Firm. | |||||||||||||||||||||||||||
JPMorgan Chase’s policy is to take possession, where possible, of securities purchased under resale agreements and of securities borrowed. The Firm monitors the value of the underlying securities (primarily G7 government securities, U.S. agency securities and agency MBS, and equities) that it has received from its counterparties and either requests additional collateral or returns a portion of the collateral when appropriate in light of the market value of the underlying securities. Margin levels are established initially based upon the counterparty and type of collateral and monitored on an ongoing basis to protect against declines in collateral value in the event of default. JPMorgan Chase typically enters into master netting agreements and other collateral arrangements with its resale agreement and securities borrowed counterparties, which provide for the right to liquidate the purchased or borrowed securities in the event of a customer default. As a result of the Firm’s credit risk mitigation practices with respect to resale and securities borrowed agreements as described above, the Firm did not hold any reserves for credit impairment with respect to these agreements as of December 31, 2013 and 2012. | ||||||||||||||||||||||||||||
For further information regarding assets pledged and collateral received in securities financing agreements, see Note 30 on page 325 of this Annual Report. | ||||||||||||||||||||||||||||
Transfers not qualifying for sale accounting | ||||||||||||||||||||||||||||
In addition, at December 31, 2013 and 2012, the Firm held $14.6 billion and $9.6 billion, respectively, of financial assets for which the rights have been transferred to third parties; however, the transfers did not qualify as a sale in accordance with U.S. GAAP. These transfers have been recognized as collateralized financing transactions. The transferred assets are recorded in trading assets, other assets and loans, and the corresponding liabilities are recorded in other borrowed funds, accounts payable and other liabilities, and long-term debt, on the Consolidated Balance Sheets. |
Loans
Loans | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loan accounting framework | ||||||||||||||||||||||||||||||||||||||||||||||||||
The accounting for a loan depends on management’s strategy for the loan, and on whether the loan was credit-impaired at the date of acquisition. The Firm accounts for loans based on the following categories: | ||||||||||||||||||||||||||||||||||||||||||||||||||
• | Originated or purchased loans held-for-investment (i.e., “retained”), other than purchased credit-impaired (“PCI”) loans | |||||||||||||||||||||||||||||||||||||||||||||||||
• | Loans held-for-sale | |||||||||||||||||||||||||||||||||||||||||||||||||
• | Loans at fair value | |||||||||||||||||||||||||||||||||||||||||||||||||
• | PCI loans held-for-investment | |||||||||||||||||||||||||||||||||||||||||||||||||
The following provides a detailed accounting discussion of these loan categories: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loans held-for-investment (other than PCI loans) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Originated or purchased loans held-for-investment, other than PCI loans, are measured at the principal amount outstanding, net of the following: allowance for loan losses; net charge-offs; interest applied to principal (for loans accounted for on the cost recovery method); unamortized discounts and premiums; and net deferred loan fees or costs. Credit card loans also include billed finance charges and fees net of an allowance for uncollectible amounts. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest income | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest income on performing loans held-for-investment, other than PCI loans, is accrued and recognized as interest income at the contractual rate of interest. Purchase price discounts or premiums, as well as net deferred loan fees or costs, are amortized into interest income over the life of the loan to produce a level rate of return. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans are those on which the accrual of interest has been suspended. Loans (other than credit card loans and certain consumer loans insured by U.S. government agencies) are placed on nonaccrual status and considered nonperforming when full payment of principal and interest is in doubt, which for consumer loans, excluding credit card, generally occurs when principal or interest is 90 days or more past due unless the loan is both well secured and in the process of collection. A loan is determined to be past due when the minimum payment is not received from the borrower by the contractually specified due date or for certain loans (e.g., residential real estate loans), when a monthly payment is due and unpaid for 30 days or more. Consumer, excluding credit card, loans that are less than 90 days past due may be placed on nonaccrual status when there is evidence that full payment of principal and interest is in doubt (e.g., performing junior liens that are subordinate to nonperforming senior liens). Finally, collateral-dependent loans are typically maintained on nonaccrual status. | ||||||||||||||||||||||||||||||||||||||||||||||||||
On the date a loan is placed on nonaccrual status, all interest accrued but not collected is reversed against interest income. In addition, the amortization of deferred amounts is suspended. Interest income on nonaccrual loans may be recognized as cash interest payments are received (i.e., on a cash basis) if the recorded loan balance is deemed fully collectible; however, if there is doubt regarding the ultimate collectibility of the recorded loan balance, all interest cash receipts are applied to reduce the carrying value of the loan (the cost recovery method). For consumer loans, application of this policy typically results in the Firm recognizing interest income on nonaccrual consumer loans on a cash basis. | ||||||||||||||||||||||||||||||||||||||||||||||||||
A loan may be returned to accrual status when repayment is reasonably assured and there has been demonstrated performance under the terms of the loan or, if applicable, the terms of the restructured loan. | ||||||||||||||||||||||||||||||||||||||||||||||||||
As permitted by regulatory guidance, credit card loans are generally exempt from being placed on nonaccrual status; accordingly, interest and fees related to credit card loans continue to accrue until the loan is charged off or paid in full. However, the Firm separately establishes an allowance for the estimated uncollectible portion of accrued interest and fee income on credit card loans. The allowance is established with a charge to interest income and is reported as an offset to loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | ||||||||||||||||||||||||||||||||||||||||||||||||||
The allowance for loan losses represents the estimated probable credit losses inherent in the held-for-investment loan portfolio at the balance sheet date. Changes in the allowance for loan losses are recorded in the provision for credit losses on the Firm’s Consolidated Statements of Income. See Note 15 on pages 284–287 of this Annual Report for further information on the Firm’s accounting polices for the allowance for loan losses. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Charge-offs | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans, other than risk-rated business banking, risk-rated auto and PCI loans, are generally charged off or charged down to the net realizable value of the underlying collateral (i.e., fair value less costs to sell), with an offset to the allowance for loan losses, upon reaching specified stages of delinquency in accordance with standards established by the Federal Financial Institutions Examination Council (“FFIEC”). Residential real estate loans, non-modified credit card loans and scored business banking loans are generally charged off at 180 days past due. In the second quarter of 2012, the Firm revised its policy to charge-off modified credit card loans that do not comply with their modified payment terms at 120 days past due rather than 180 days past due. Auto and student loans are charged off no later than 120 days past due. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Certain consumer loans will be charged off earlier than the FFIEC charge-off standards in certain circumstances as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||||
• | A charge-off is recognized when a loan is modified in a TDR if the loan is determined to be collateral-dependent. A loan is considered to be collateral-dependent when repayment of the loan is expected to be provided solely by the underlying collateral, rather than by cash flows from the borrower’s operations, income or other resources. | |||||||||||||||||||||||||||||||||||||||||||||||||
• | Loans to borrowers who have experienced an event (e.g., bankruptcy) that suggests a loss is either known or highly certain are subject to accelerated charge-off standards. Residential real estate and auto loans are charged off when the loan becomes 60 days past due, or sooner if the loan is determined to be collateral-dependent. Credit card and scored business banking loans are charged off within 60 days of receiving notification of the bankruptcy filing or other event. Student loans are generally charged off when the loan becomes 60 days past due after receiving notification of a bankruptcy. | |||||||||||||||||||||||||||||||||||||||||||||||||
• | Auto loans are written down to net realizable value upon repossession of the automobile and after a redemption period (i.e., the period during which a borrower may cure the loan) has passed. | |||||||||||||||||||||||||||||||||||||||||||||||||
Other than in certain limited circumstances, the Firm typically does not recognize charge-offs on government-guaranteed loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale loans, risk-rated business banking loans and risk-rated auto loans are charged off when it is highly certain that a loss has been realized, including situations where a loan is determined to be both impaired and collateral-dependent. The determination of whether to recognize a charge-off includes many factors, including the prioritization of the Firm’s claim in bankruptcy, expectations of the workout/restructuring of the loan and valuation of the borrower’s equity or the loan collateral. | ||||||||||||||||||||||||||||||||||||||||||||||||||
When a loan is charged down to the estimated net realizable value, the determination of the fair value of the collateral depends on the type of collateral (e.g., securities, real estate). In cases where the collateral is in the form of liquid securities, the fair value is based on quoted market prices or broker quotes. For illiquid securities or other financial assets, the fair value of the collateral is estimated using a discounted cash flow model. | ||||||||||||||||||||||||||||||||||||||||||||||||||
For residential real estate loans, collateral values are based upon external valuation sources. When it becomes likely that a borrower is either unable or unwilling to pay, the Firm obtains a broker’s price opinion of the home based on an exterior-only valuation (“exterior opinions”), which is then updated at least every six months thereafter. As soon as practicable after the Firm receives the property in satisfaction of a debt (e.g., by taking legal title or physical possession), generally, either through foreclosure or upon the execution of a deed in lieu of foreclosure transaction with the borrower, the Firm obtains an appraisal based on an inspection that includes the interior of the home (“interior appraisals”). Exterior opinions and interior appraisals are discounted based upon the Firm’s experience with actual liquidation values as compared to the estimated values provided by exterior opinions and interior appraisals, considering state- and product-specific factors. | ||||||||||||||||||||||||||||||||||||||||||||||||||
For commercial real estate loans, collateral values are generally based on appraisals from internal and external valuation sources. Collateral values are typically updated every six to twelve months, either by obtaining a new appraisal or by performing an internal analysis, in accordance with the Firm’s policies. The Firm also considers both borrower- and market-specific factors, which may result in obtaining appraisal updates or broker price opinions at more frequent intervals. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loans held-for-sale | ||||||||||||||||||||||||||||||||||||||||||||||||||
Held-for-sale loans are measured at the lower of cost or fair value, with valuation changes recorded in noninterest revenue. For consumer loans, the valuation is performed on a portfolio basis. For wholesale loans, the valuation is performed on an individual loan basis. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest income on loans held-for-sale is accrued and recognized based on the contractual rate of interest. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loan origination fees or costs and purchase price discounts or premiums are deferred in a contra loan account until the related loan is sold. The deferred fees and discounts or premiums are an adjustment to the basis of the loan and therefore are included in the periodic determination of the lower of cost or fair value adjustments and/or the gain or losses recognized at the time of sale. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Held-for-sale loans are subject to the nonaccrual policies described above. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Because held-for-sale loans are recognized at the lower of cost or fair value, the Firm’s allowance for loan losses and charge-off policies do not apply to these loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loans at fair value | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loans used in a market-making strategy or risk managed on a fair value basis are measured at fair value, with changes in fair value recorded in noninterest revenue. | ||||||||||||||||||||||||||||||||||||||||||||||||||
For these loans, the earned current contractual interest payment is recognized in interest income. Changes in fair value are recognized in noninterest revenue. Loan origination fees are recognized upfront in noninterest revenue. Loan origination costs are recognized in the associated expense category as incurred. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Because these loans are recognized at fair value, the Firm’s nonaccrual, allowance for loan losses, and charge-off policies do not apply to these loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
See Note 4 on pages 215–218 of this Annual Report for further information on the Firm’s elections of fair value accounting under the fair value option. See Note 3 and Note 4 on pages 195–215 and 215–218 of this Annual Report for further information on loans carried at fair value and classified as trading assets. | ||||||||||||||||||||||||||||||||||||||||||||||||||
PCI loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
PCI loans held-for-investment are initially measured at fair value. PCI loans have evidence of credit deterioration since the loan’s origination date and therefore it is probable, at acquisition, that all contractually required payments will not be collected. Because PCI loans are initially measured at fair value, which includes an estimate of future credit losses, no allowance for loan losses related to PCI loans is recorded at the acquisition date. See page 274 of this Note for information on accounting for PCI loans subsequent to their acquisition. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loan classification changes | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loans in the held-for-investment portfolio that management decides to sell are transferred to the held-for-sale portfolio at the lower of cost or fair value on the date of transfer. Credit-related losses are charged against the allowance for loan losses; losses due to changes in interest rates or foreign currency exchange rates are recognized in noninterest revenue. | ||||||||||||||||||||||||||||||||||||||||||||||||||
In the event that management decides to retain a loan in the held-for-sale portfolio, the loan is transferred to the held-for-investment portfolio at the lower of cost or fair value on the date of transfer. These loans are subsequently assessed for impairment based on the Firm’s allowance methodology. For a further discussion of the methodologies used in establishing the Firm’s allowance for loan losses, see Note 15 on pages 284–287 of this Annual Report. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loan modifications | ||||||||||||||||||||||||||||||||||||||||||||||||||
The Firm seeks to modify certain loans in conjunction with its loss-mitigation activities. Through the modification, JPMorgan Chase grants one or more concessions to a borrower who is experiencing financial difficulty in order to minimize the Firm’s economic loss, avoid foreclosure or repossession of the collateral, and to ultimately maximize payments received by the Firm from the borrower. The concessions granted vary by program and by borrower-specific characteristics, and may include interest rate reductions, term extensions, payment deferrals, principal forgiveness, or the acceptance of equity or other assets in lieu of payments. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Such modifications are accounted for and reported as troubled debt restructurings (“TDRs”). A loan that has been modified in a TDR is generally considered to be impaired until it matures, is repaid, or is otherwise liquidated, regardless of whether the borrower performs under the modified terms. In certain limited cases, the effective interest rate applicable to the modified loan is at or above the current market rate at the time of the restructuring. In such circumstances, and assuming that the loan subsequently performs under its modified terms and the Firm expects to collect all contractual principal and interest cash flows, the loan is disclosed as impaired and as a TDR only during the year of the modification; in subsequent years, the loan is not disclosed as an impaired loan or as a TDR so long as repayment of the restructured loan under its modified terms is reasonably assured. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loans, except for credit card loans, modified in a TDR are generally placed on nonaccrual status, although in many cases such loans were already on nonaccrual status prior to modification. These loans may be returned to performing status (the accrual of interest is resumed) if the following criteria are met: (a) the borrower has performed under the modified terms for a minimum of six months and/or six payments, and (b) the Firm has an expectation that repayment of the modified loan is reasonably assured based on, for example, the borrower’s debt capacity and level of future earnings, collateral values, loan-to-value (“LTV”) ratios, and other current market considerations. In certain limited and well-defined circumstances in which the loan is current at the modification date, such loans are not placed on nonaccrual status at the time of modification. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Because loans modified in TDRs are considered to be impaired, these loans are measured for impairment using the Firm’s established asset-specific allowance methodology, which considers the expected re-default rates for the modified loans. A loan modified in a TDR remains subject to the asset-specific allowance methodology throughout its remaining life, regardless of whether the loan is performing and has been returned to accrual status and/or the loan has been removed from the impaired loans disclosures (i.e., loans restructured at market rates). For further discussion of the methodology used to estimate the Firm’s asset-specific allowance, see Note 15 on pages 284–287 of this Annual Report. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Foreclosed property | ||||||||||||||||||||||||||||||||||||||||||||||||||
The Firm acquires property from borrowers through loan restructurings, workouts, and foreclosures. Property acquired may include real property (e.g., residential real estate, land, and buildings) and commercial and personal property (e.g., automobiles, aircraft, railcars, and ships). | ||||||||||||||||||||||||||||||||||||||||||||||||||
The Firm recognizes foreclosed property upon receiving assets in satisfaction of a loan (e.g., by taking legal title or physical possession). For loans collateralized by real property, the Firm generally recognizes the asset received at foreclosure sale or upon the execution of a deed in lieu of foreclosure transaction with the borrower. Foreclosed assets are reported in other assets on the Consolidated Balance Sheets and initially recognized at fair value less costs to sell. Each quarter the fair value of the acquired property is reviewed and adjusted, if necessary, to the lower of cost or fair value. Subsequent adjustments to fair value are charged/credited to noninterest revenue. Operating expense, such as real estate taxes and maintenance, are charged to other expense. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loan portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||
The Firm’s loan portfolio is divided into three portfolio segments, which are the same segments used by the Firm to determine the allowance for loan losses: Consumer, excluding credit card; Credit card; and Wholesale. Within each portfolio segment, the Firm monitors and assesses the credit risk in the following classes of loans, based on the risk characteristics of each loan class: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer, excluding | Credit card | Wholesale(c) | ||||||||||||||||||||||||||||||||||||||||||||||||
credit card(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate – excluding PCI | • Credit card loans | • Commercial and industrial | ||||||||||||||||||||||||||||||||||||||||||||||||
• Home equity – senior lien | • Real estate | |||||||||||||||||||||||||||||||||||||||||||||||||
• Home equity – junior lien | • Financial institutions | |||||||||||||||||||||||||||||||||||||||||||||||||
• Prime mortgage, including | • Government agencies | |||||||||||||||||||||||||||||||||||||||||||||||||
option ARMs | • Other(d) | |||||||||||||||||||||||||||||||||||||||||||||||||
• Subprime mortgage | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other consumer loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
• Auto(b) | ||||||||||||||||||||||||||||||||||||||||||||||||||
• Business banking(b) | ||||||||||||||||||||||||||||||||||||||||||||||||||
• Student and other | ||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate – PCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
• Home equity | ||||||||||||||||||||||||||||||||||||||||||||||||||
• Prime mortgage | ||||||||||||||||||||||||||||||||||||||||||||||||||
• Subprime mortgage | ||||||||||||||||||||||||||||||||||||||||||||||||||
• Option ARMs | ||||||||||||||||||||||||||||||||||||||||||||||||||
(a) | Includes loans held in CCB, and prime mortgage loans held in the AM business segment and in Corporate/Private Equity. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Includes certain business banking and auto dealer risk-rated loans that apply the wholesale methodology for determining the allowance for loan losses; these loans are managed by CCB, and therefore, for consistency in presentation, are included with the other consumer loan classes. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | Includes loans held in CIB, CB and AM business segments and in Corporate/Private Equity. Classes are internally defined and may not align with regulatory definitions. | |||||||||||||||||||||||||||||||||||||||||||||||||
(d) | Other primarily includes loans to SPEs and loans to private banking clients. See Note 1 on pages 189–191 of this Annual Report for additional information on SPEs. | |||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the Firm’s loan balances by portfolio segment. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | Consumer, excluding credit card | Credit card(a) | Wholesale | Total | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Retained | $ | 288,449 | $ | 127,465 | $ | 308,263 | $ | 724,177 | (b) | |||||||||||||||||||||||||||||||||||||||||
Held-for-sale | 614 | 326 | 11,290 | 12,230 | ||||||||||||||||||||||||||||||||||||||||||||||
At fair value | — | — | 2,011 | 2,011 | ||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 289,063 | $ | 127,791 | $ | 321,564 | $ | 738,418 | ||||||||||||||||||||||||||||||||||||||||||
December 31, 2012 | Consumer, excluding credit card | Credit card(a) | Wholesale | Total | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Retained | $ | 292,620 | $ | 127,993 | $ | 306,222 | $ | 726,835 | (b) | |||||||||||||||||||||||||||||||||||||||||
Held-for-sale | — | — | 4,406 | 4,406 | ||||||||||||||||||||||||||||||||||||||||||||||
At fair value | — | — | 2,555 | 2,555 | ||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 292,620 | $ | 127,993 | $ | 313,183 | $ | 733,796 | ||||||||||||||||||||||||||||||||||||||||||
(a) | Includes billed finance charges and fees net of an allowance for uncollectible amounts. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Loans (other than PCI loans and those for which the fair value option has been elected) are presented net of unearned income, unamortized discounts and premiums, and net deferred loan costs of $1.9 billion and $2.5 billion at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information about the carrying value of retained loans purchased, sold and reclassified to held-for-sale during the periods indicated. These tables exclude loans recorded at fair value. The Firm manages its exposure to credit risk on an ongoing basis. Selling loans is one way that the Firm reduces its credit exposures. | ||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Years ended December 31, | Consumer, excluding credit card | Credit card | Wholesale | Total | Consumer, excluding credit card | Credit card | Wholesale | Total | ||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchases | $ | 7,616 | (a)(b) | $ | 328 | $ | 697 | $ | 8,641 | $ | 6,601 | (a)(b) | $ | — | $ | 827 | $ | 7,428 | ||||||||||||||||||||||||||||||||
Sales | 4,845 | — | 4,232 | 9,077 | 1,852 | — | 3,423 | 5,275 | ||||||||||||||||||||||||||||||||||||||||||
Retained loans reclassified to held-for-sale | 1,261 | 309 | 5,641 | 7,211 | — | 1,043 | 504 | 1,547 | ||||||||||||||||||||||||||||||||||||||||||
(a) | Purchases predominantly represent the Firm’s voluntary repurchase of certain delinquent loans from loan pools as permitted by Ginnie Mae guidelines. The Firm typically elects to repurchase these delinquent loans as it continues to service them and/or manage the foreclosure process in accordance with applicable requirements of Ginnie Mae, the Federal Housing Administration (“FHA”), Rural Housing Services (“RHS”) and/or the U.S. Department of Veterans Affairs (“VA”). | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Excluded retained loans purchased from correspondents that were originated in accordance with the Firm’s underwriting standards. Such purchases were $5.7 billion and $1.4 billion for the years ended December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information about gains/(losses) on loan sales by portfolio segment. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, (in millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
Net gains/(losses) on sales of loans (including lower of cost or fair value adjustments)(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer, excluding credit card | $ | 313 | $ | 122 | $ | 131 | ||||||||||||||||||||||||||||||||||||||||||||
Credit card | 3 | (9 | ) | (24 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Wholesale | (76 | ) | 180 | 121 | ||||||||||||||||||||||||||||||||||||||||||||||
Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) | $ | 240 | $ | 293 | $ | 228 | ||||||||||||||||||||||||||||||||||||||||||||
(a) | Excludes sales related to loans accounted for at fair value. | |||||||||||||||||||||||||||||||||||||||||||||||||
Consumer, excluding credit card [Member] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Consumer, excluding credit card, loan portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans, excluding credit card loans, consist primarily of residential mortgages, home equity loans and lines of credit, auto loans, business banking loans, and student and other loans, with a focus on serving the prime consumer credit market. The portfolio also includes home equity loans secured by junior liens, prime mortgage loans with an interest-only payment period, and certain payment-option loans originated by Washington Mutual that may result in negative amortization. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The table below provides information about retained consumer loans, excluding credit card, by class. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, (in millions) | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate – excluding PCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Senior lien | $ | 17,113 | $ | 19,385 | ||||||||||||||||||||||||||||||||||||||||||||||
Junior lien | 40,750 | 48,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Mortgages: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Prime, including option ARMs | 87,162 | 76,256 | ||||||||||||||||||||||||||||||||||||||||||||||||
Subprime | 7,104 | 8,255 | ||||||||||||||||||||||||||||||||||||||||||||||||
Other consumer loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Auto | 52,757 | 49,913 | ||||||||||||||||||||||||||||||||||||||||||||||||
Business banking | 18,951 | 18,883 | ||||||||||||||||||||||||||||||||||||||||||||||||
Student and other | 11,557 | 12,191 | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate – PCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity | 18,927 | 20,971 | ||||||||||||||||||||||||||||||||||||||||||||||||
Prime mortgage | 12,038 | 13,674 | ||||||||||||||||||||||||||||||||||||||||||||||||
Subprime mortgage | 4,175 | 4,626 | ||||||||||||||||||||||||||||||||||||||||||||||||
Option ARMs | 17,915 | 20,466 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 288,449 | $ | 292,620 | ||||||||||||||||||||||||||||||||||||||||||||||
Delinquency rates are a primary credit quality indicator for consumer loans. Loans that are more than 30 days past due provide an early warning of borrowers who may be experiencing financial difficulties and/or who may be unable or unwilling to repay the loan. As the loan continues to age, it becomes more clear that the borrower is likely either unable or unwilling to pay. In the case of residential real estate loans, late-stage delinquencies (greater than 150 days past due) are a strong indicator of loans that will ultimately result in a foreclosure or similar liquidation transaction. In addition to delinquency rates, other credit quality indicators for consumer loans vary based on the class of loan, as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||||
• | For residential real estate loans, including both non-PCI and PCI portfolios, the current estimated LTV ratio, or the combined LTV ratio in the case of junior lien loans, is an indicator of the potential loss severity in the event of default. Additionally, LTV or combined LTV can provide insight into a borrower’s continued willingness to pay, as the delinquency rate of high-LTV loans tends to be greater than that for loans where the borrower has equity in the collateral. The geographic distribution of the loan collateral also provides insight as to the credit quality of the portfolio, as factors such as the regional economy, home price changes and specific events such as natural disasters, will affect credit quality. The borrower’s current or “refreshed” FICO score is a secondary credit-quality indicator for certain loans, as FICO scores are an indication of the borrower’s credit payment history. Thus, a loan to a borrower with a low FICO score (660 or below) is considered to be of higher risk than a loan to a borrower with a high FICO score. Further, a loan to a borrower with a high LTV ratio and a low FICO score is at greater risk of default than a loan to a borrower that has both a high LTV ratio and a high FICO score. | |||||||||||||||||||||||||||||||||||||||||||||||||
• | For scored auto, scored business banking and student loans, geographic distribution is an indicator of the credit performance of the portfolio. Similar to residential real estate loans, geographic distribution provides insights into the portfolio performance based on regional economic activity and events. | |||||||||||||||||||||||||||||||||||||||||||||||||
• | Risk-rated business banking and auto loans are similar to wholesale loans in that the primary credit quality indicators are the risk rating that is assigned to the loan and whether the loans are considered to be criticized and/or nonaccrual. Risk ratings are reviewed on a regular and ongoing basis by Credit Risk Management and are adjusted as necessary for updated information about borrowers’ ability to fulfill their obligations. For further information about risk-rated wholesale loan credit quality indicators, see page 279 of this Note. | |||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate – excluding PCI loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information by class for residential real estate – excluding retained PCI loans in the consumer, excluding credit card, portfolio segment. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following factors should be considered in analyzing certain credit statistics applicable to the Firm’s residential real estate – excluding PCI loans portfolio: (i) junior lien home equity loans may be fully charged off when the loan becomes 180 days past due, and the value of the collateral does not support the repayment of the loan, resulting in relatively high charge-off rates for this product class; and (ii) the lengthening of loss-mitigation timelines may result in higher delinquency rates for loans carried at the net realizable value of the collateral that remain on the Firm’s Consolidated Balance Sheets. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate – excluding PCI loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Senior lien | Junior lien | ||||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
Loan delinquency(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current | $ | 16,470 | $ | 18,688 | $ | 39,864 | $ | 46,805 | ||||||||||||||||||||||||||||||||||||||||||
30–149 days past due | 298 | 330 | 662 | 960 | ||||||||||||||||||||||||||||||||||||||||||||||
150 or more days past due | 345 | 367 | 224 | 235 | ||||||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 17,113 | $ | 19,385 | $ | 40,750 | $ | 48,000 | ||||||||||||||||||||||||||||||||||||||||||
% of 30+ days past due to total retained loans | 3.76 | % | 3.6 | % | 2.17 | % | 2.49 | % | ||||||||||||||||||||||||||||||||||||||||||
90 or more days past due and still accruing | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
90 or more days past due and government guaranteed(b) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans | 932 | 931 | 1,876 | 2,277 | ||||||||||||||||||||||||||||||||||||||||||||||
Current estimated LTV ratios(c)(d)(e) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Greater than 125% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | $ | 40 | $ | 197 | $ | 1,101 | $ | 4,561 | ||||||||||||||||||||||||||||||||||||||||||
Less than 660 | 22 | 93 | 346 | 1,338 | ||||||||||||||||||||||||||||||||||||||||||||||
101% to 125% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 212 | 491 | 4,645 | 7,089 | ||||||||||||||||||||||||||||||||||||||||||||||
Less than 660 | 107 | 191 | 1,407 | 1,971 | ||||||||||||||||||||||||||||||||||||||||||||||
80% to 100% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 858 | 1,502 | 7,995 | 9,604 | ||||||||||||||||||||||||||||||||||||||||||||||
Less than 660 | 326 | 485 | 2,128 | 2,279 | ||||||||||||||||||||||||||||||||||||||||||||||
Less than 80% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 13,186 | 13,988 | 19,732 | 18,252 | ||||||||||||||||||||||||||||||||||||||||||||||
Less than 660 | 2,362 | 2,438 | 3,396 | 2,906 | ||||||||||||||||||||||||||||||||||||||||||||||
U.S. government-guaranteed | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 17,113 | $ | 19,385 | $ | 40,750 | $ | 48,000 | ||||||||||||||||||||||||||||||||||||||||||
Geographic region | ||||||||||||||||||||||||||||||||||||||||||||||||||
California | $ | 2,397 | $ | 2,786 | $ | 9,240 | $ | 10,969 | ||||||||||||||||||||||||||||||||||||||||||
New York | 2,732 | 2,847 | 8,429 | 9,753 | ||||||||||||||||||||||||||||||||||||||||||||||
Illinois | 1,248 | 1,358 | 2,815 | 3,265 | ||||||||||||||||||||||||||||||||||||||||||||||
Florida | 847 | 892 | 2,167 | 2,572 | ||||||||||||||||||||||||||||||||||||||||||||||
Texas | 2,044 | 2,508 | 1,199 | 1,503 | ||||||||||||||||||||||||||||||||||||||||||||||
New Jersey | 630 | 652 | 2,442 | 2,838 | ||||||||||||||||||||||||||||||||||||||||||||||
Arizona | 1,019 | 1,183 | 1,827 | 2,151 | ||||||||||||||||||||||||||||||||||||||||||||||
Washington | 555 | 651 | 1,378 | 1,629 | ||||||||||||||||||||||||||||||||||||||||||||||
Michigan | 799 | 910 | 976 | 1,169 | ||||||||||||||||||||||||||||||||||||||||||||||
Ohio | 1,298 | 1,514 | 907 | 1,091 | ||||||||||||||||||||||||||||||||||||||||||||||
All other(f) | 3,544 | 4,084 | 9,370 | 11,060 | ||||||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 17,113 | $ | 19,385 | $ | 40,750 | $ | 48,000 | ||||||||||||||||||||||||||||||||||||||||||
(a) | Individual delinquency classifications included mortgage loans insured by U.S. government agencies as follows: current included $4.7 billion and $3.8 billion; 30–149 days past due included $2.4 billion and $2.3 billion; and 150 or more days past due included $6.6 billion and $9.5 billion at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | These balances, which are 90 days or more past due but insured by U.S. government agencies, are excluded from nonaccrual loans. In predominantly all cases, 100% of the principal balance of the loans is insured and interest is guaranteed at a specified reimbursement rate subject to meeting agreed-upon servicing guidelines. These amounts have been excluded from nonaccrual loans based upon the government guarantee. At December 31, 2013 and 2012, these balances included $4.7 billion and $6.8 billion, respectively, of loans that are no longer accruing interest because interest has been curtailed by the U.S. government agencies although, in predominantly all cases, 100% of the principal is still insured. For the remaining balance, interest is being accrued at the guaranteed reimbursement rate. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | Represents the aggregate unpaid principal balance of loans divided by the estimated current property value. Current property values are estimated, at a minimum, quarterly, based on home valuation models using nationally recognized home price index valuation estimates incorporating actual data to the extent available and forecasted data where actual data is not available. These property values do not represent actual appraised loan level collateral values; as such, the resulting ratios are necessarily imprecise and should be viewed as estimates. | |||||||||||||||||||||||||||||||||||||||||||||||||
(d) | Junior lien represents combined LTV, which considers all available lien positions, as well as unused lines, related to the property. All other products are presented without consideration of subordinate liens on the property. | |||||||||||||||||||||||||||||||||||||||||||||||||
(e) | Refreshed FICO scores represent each borrower’s most recent credit score, which is obtained by the Firm on at least a quarterly basis. | |||||||||||||||||||||||||||||||||||||||||||||||||
(f) | At December 31, 2013 and 2012, included mortgage loans insured by U.S. government agencies of $13.7 billion and $15.6 billion, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||
(g) | At December 31, 2013 and 2012, excluded mortgage loans insured by U.S. government agencies of $9.0 billion and $11.8 billion, respectively. These amounts have been excluded from nonaccrual loans based upon the government guarantee. | |||||||||||||||||||||||||||||||||||||||||||||||||
(table continued from previous page) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgages | ||||||||||||||||||||||||||||||||||||||||||||||||||
Prime, including option ARMs | Subprime | Total residential real estate – excluding PCI | ||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||
$ | 76,108 | $ | 61,439 | $ | 5,956 | $ | 6,673 | $ | 138,398 | $ | 133,605 | |||||||||||||||||||||||||||||||||||||||
3,155 | 3,237 | 646 | 727 | 4,761 | 5,254 | |||||||||||||||||||||||||||||||||||||||||||||
7,899 | 11,580 | 502 | 855 | 8,970 | 13,037 | |||||||||||||||||||||||||||||||||||||||||||||
$ | 87,162 | $ | 76,256 | $ | 7,104 | $ | 8,255 | $ | 152,129 | $ | 151,896 | |||||||||||||||||||||||||||||||||||||||
2.32 | % | (g) | 3.97 | % | (g) | 16.16 | % | 19.16 | % | 3.09 | % | (g) | 4.28 | % | (g) | |||||||||||||||||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||
7,823 | 10,625 | — | — | 7,823 | 10,625 | |||||||||||||||||||||||||||||||||||||||||||||
2,666 | 3,445 | 1,390 | 1,807 | 6,864 | 8,460 | |||||||||||||||||||||||||||||||||||||||||||||
$ | 1,084 | $ | 2,573 | $ | 52 | $ | 236 | $ | 2,277 | $ | 7,567 | |||||||||||||||||||||||||||||||||||||||
303 | 991 | 197 | 653 | 868 | 3,075 | |||||||||||||||||||||||||||||||||||||||||||||
1,433 | 3,697 | 249 | 457 | 6,539 | 11,734 | |||||||||||||||||||||||||||||||||||||||||||||
687 | 1,376 | 597 | 985 | 2,798 | 4,523 | |||||||||||||||||||||||||||||||||||||||||||||
4,528 | 7,070 | 614 | 726 | 13,995 | 18,902 | |||||||||||||||||||||||||||||||||||||||||||||
1,579 | 2,117 | 1,141 | 1,346 | 5,174 | 6,227 | |||||||||||||||||||||||||||||||||||||||||||||
58,477 | 38,281 | 1,961 | 1,793 | 93,356 | 72,314 | |||||||||||||||||||||||||||||||||||||||||||||
5,359 | 4,549 | 2,293 | 2,059 | 13,410 | 11,952 | |||||||||||||||||||||||||||||||||||||||||||||
13,712 | 15,602 | — | — | 13,712 | 15,602 | |||||||||||||||||||||||||||||||||||||||||||||
$ | 87,162 | $ | 76,256 | $ | 7,104 | $ | 8,255 | $ | 152,129 | $ | 151,896 | |||||||||||||||||||||||||||||||||||||||
$ | 21,876 | $ | 17,539 | $ | 1,069 | $ | 1,240 | $ | 34,582 | $ | 32,534 | |||||||||||||||||||||||||||||||||||||||
14,085 | 11,190 | 942 | 1,081 | 26,188 | 24,871 | |||||||||||||||||||||||||||||||||||||||||||||
5,216 | 3,999 | 280 | 323 | 9,559 | 8,945 | |||||||||||||||||||||||||||||||||||||||||||||
4,598 | 4,372 | 885 | 1,031 | 8,497 | 8,867 | |||||||||||||||||||||||||||||||||||||||||||||
3,565 | 2,927 | 220 | 257 | 7,028 | 7,195 | |||||||||||||||||||||||||||||||||||||||||||||
2,679 | 2,131 | 339 | 399 | 6,090 | 6,020 | |||||||||||||||||||||||||||||||||||||||||||||
1,385 | 1,162 | 144 | 165 | 4,375 | 4,661 | |||||||||||||||||||||||||||||||||||||||||||||
1,951 | 1,741 | 150 | 177 | 4,034 | 4,198 | |||||||||||||||||||||||||||||||||||||||||||||
998 | 866 | 178 | 203 | 2,951 | 3,148 | |||||||||||||||||||||||||||||||||||||||||||||
466 | 405 | 161 | 191 | 2,832 | 3,201 | |||||||||||||||||||||||||||||||||||||||||||||
30,343 | 29,924 | 2,736 | 3,188 | 45,993 | 48,256 | |||||||||||||||||||||||||||||||||||||||||||||
$ | 87,162 | $ | 76,256 | $ | 7,104 | $ | 8,255 | $ | 152,129 | $ | 151,896 | |||||||||||||||||||||||||||||||||||||||
The following tables represent the Firm’s delinquency statistics for junior lien home equity loans and lines as of December 31, 2013 and 2012. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Delinquencies | Total 30+ day delinquency rate | |||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | 30–89 days past due | 90–149 days past due | 150+ days | Total loans | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | past due | |||||||||||||||||||||||||||||||||||||||||||||||||
HELOCs:(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Within the revolving period(b) | $ | 341 | $ | 104 | $ | 162 | $ | 31,848 | 1.91 | % | ||||||||||||||||||||||||||||||||||||||||
Beyond the revolving period | 84 | 21 | 46 | 4,980 | 3.03 | |||||||||||||||||||||||||||||||||||||||||||||
HELOANs | 86 | 26 | 16 | 3,922 | 3.26 | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 511 | $ | 151 | $ | 224 | $ | 40,750 | 2.17 | % | ||||||||||||||||||||||||||||||||||||||||
Delinquencies | Total 30+ day delinquency rate | |||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | 30–89 days past due | 90–149 days past due | 150+ days | Total loans | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | past due | |||||||||||||||||||||||||||||||||||||||||||||||||
HELOCs:(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Within the revolving period(b) | $ | 514 | $ | 196 | $ | 185 | $ | 40,794 | 2.19 | % | ||||||||||||||||||||||||||||||||||||||||
Beyond the revolving period | 48 | 19 | 27 | 2,127 | 4.42 | |||||||||||||||||||||||||||||||||||||||||||||
HELOANs | 125 | 58 | 23 | 5,079 | 4.06 | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 687 | $ | 273 | $ | 235 | $ | 48,000 | 2.49 | % | ||||||||||||||||||||||||||||||||||||||||
(a) These HELOCs are predominantly revolving loans for a 10-year period, after which time the HELOC converts to a loan with a 20-year amortization period, but also include HELOCs originated by Washington Mutual that require interest-only payments beyond the revolving period. | ||||||||||||||||||||||||||||||||||||||||||||||||||
(b) The Firm manages the risk of HELOCs during their revolving period by closing or reducing the undrawn line to the extent permitted by law when borrowers are experiencing financial difficulty or when the collateral does not support the loan amount. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity lines of credit (“HELOCs”) beyond the revolving period and home equity loans (“HELOANs”) have higher delinquency rates than do HELOCs within the revolving period. That is primarily because the fully-amortizing payment that is generally required for those products is higher than the minimum payment options | ||||||||||||||||||||||||||||||||||||||||||||||||||
available for HELOCs within the revolving period. The higher delinquency rates associated with amortizing HELOCs and HELOANs are factored into the loss estimates produced by the Firm’s delinquency roll-rate methodology, which estimates defaults based on the current delinquency status of a portfolio. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
The table below sets forth information about the Firm’s residential real estate impaired loans, excluding PCI loans. These loans are considered to be impaired as they have been modified in a TDR. All impaired loans are evaluated for an asset-specific allowance as described in Note 15 on pages 284–287 of this Annual Report. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity | Mortgages | Total residential | ||||||||||||||||||||||||||||||||||||||||||||||||
real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Senior lien | Junior lien | Prime, including | Subprime | – excluding PCI | |||||||||||||||||||||||||||||||||||||||||||||
(in millions) | option ARMs | |||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
With an allowance | $ | 567 | $ | 542 | $ | 727 | $ | 677 | $ | 5,871 | $ | 5,810 | $ | 2,989 | $ | 3,071 | $ | 10,154 | $ | 10,100 | ||||||||||||||||||||||||||||||
Without an allowance(a) | 579 | 550 | 592 | 546 | 1,133 | 1,308 | 709 | 741 | 3,013 | 3,145 | ||||||||||||||||||||||||||||||||||||||||
Total impaired loans(b) | $ | 1,146 | $ | 1,092 | $ | 1,319 | $ | 1,223 | $ | 7,004 | $ | 7,118 | $ | 3,698 | $ | 3,812 | $ | 13,167 | $ | 13,245 | ||||||||||||||||||||||||||||||
Allowance for loan losses related to impaired loans | $ | 94 | $ | 159 | $ | 162 | $ | 188 | $ | 144 | $ | 70 | $ | 94 | $ | 174 | $ | 494 | $ | 591 | ||||||||||||||||||||||||||||||
Unpaid principal balance of impaired loans(c) | 1,515 | 1,408 | 2,625 | 2,352 | 8,990 | 9,095 | 5,461 | 5,700 | 18,591 | 18,555 | ||||||||||||||||||||||||||||||||||||||||
Impaired loans on nonaccrual status(d) | 641 | 607 | 666 | 599 | 1,737 | 1,888 | 1,127 | 1,308 | 4,171 | 4,402 | ||||||||||||||||||||||||||||||||||||||||
(a) | Represents collateral-dependent residential mortgage loans that are charged off to the fair value of the underlying collateral less cost to sell. The Firm reports, in accordance with regulatory guidance, residential real estate loans that have been discharged under Chapter 7 bankruptcy and not reaffirmed by the borrower (“Chapter 7 loans”) as collateral-dependent nonaccrual TDRs, regardless of their delinquency status. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | At December 31, 2013 and 2012, $7.6 billion and $7.5 billion, respectively, of loans modified subsequent to repurchase from Government National Mortgage Association (“Ginnie Mae”) in accordance with the standards of the appropriate government agency (i.e., FHA, VA, RHS) are not included in the table above. When such loans perform subsequent to modification in accordance with Ginnie Mae guidelines, they are generally sold back into Ginnie Mae loan pools. Modified loans that do not re-perform become subject to foreclosure. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | Represents the contractual amount of principal owed at December 31, 2013 and 2012. The unpaid principal balance differs from the impaired loan balances due to various factors, including charge-offs, net deferred loan fees or costs; and unamortized discounts or premiums on purchased loans. | |||||||||||||||||||||||||||||||||||||||||||||||||
(d) | As of December 31, 2013 and 2012, nonaccrual loans included $3.0 billion and $2.9 billion, respectively, of TDRs for which the borrowers were less than 90 days past due. For additional information about loans modified in a TDR that are on nonaccrual status refer to the Loan accounting framework on pages 258–260 of this Note. | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents average impaired loans and the related interest income reported by the Firm. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | Average impaired loans | Interest income on | Interest income on impaired | |||||||||||||||||||||||||||||||||||||||||||||||
impaired loans(a) | loans on a cash basis(a) | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||
Home equity | ||||||||||||||||||||||||||||||||||||||||||||||||||
Senior lien | $ | 1,151 | $ | 610 | $ | 287 | $ | 59 | $ | 27 | $ | 10 | $ | 40 | $ | 12 | $ | 1 | ||||||||||||||||||||||||||||||||
Junior lien | 1,297 | 848 | 521 | 82 | 42 | 18 | 55 | 16 | 2 | |||||||||||||||||||||||||||||||||||||||||
Mortgages | ||||||||||||||||||||||||||||||||||||||||||||||||||
Prime, including option ARMs | 7,214 | 5,989 | 3,859 | 280 | 238 | 147 | 59 | 28 | 14 | |||||||||||||||||||||||||||||||||||||||||
Subprime | 3,798 | 3,494 | 3,083 | 200 | 183 | 148 | 55 | 31 | 16 | |||||||||||||||||||||||||||||||||||||||||
Total residential real estate – excluding PCI | $ | 13,460 | $ | 10,941 | $ | 7,750 | $ | 621 | $ | 490 | $ | 323 | $ | 209 | $ | 87 | $ | 33 | ||||||||||||||||||||||||||||||||
(a) | Generally, interest income on loans modified in TDRs is recognized on a cash basis until such time as the borrower has made a minimum of six payments under the new terms. | |||||||||||||||||||||||||||||||||||||||||||||||||
Loan modifications | ||||||||||||||||||||||||||||||||||||||||||||||||||
As required under the terms of certain settlements, the Firm is required to provide borrower relief, which will include, for example, reductions of principal and forbearance. For further information on the global and RMBS settlements, see Business changes and developments in Note 2 on pages 192–194 of this Annual Report. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Modifications of residential real estate loans, excluding PCI loans, are generally accounted for and reported as TDRs. There were no additional commitments to lend to borrowers whose residential real estate loans, excluding PCI loans, have been modified in TDRs. | ||||||||||||||||||||||||||||||||||||||||||||||||||
TDR activity rollforward | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following table reconciles the beginning and ending balances of residential real estate loans, excluding PCI loans, modified in TDRs for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | Home equity | Mortgages | Total residential real estate – excluding PCI | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Senior lien | Junior lien | Prime, including | Subprime | ||||||||||||||||||||||||||||||||||||||||||||||
option ARMs | ||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||
Beginning balance of TDRs | $ | 1,092 | $ | 335 | $ | 226 | $ | 1,223 | $ | 657 | $ | 283 | $ | 7,118 | $ | 4,877 | $ | 2,084 | $ | 3,812 | $ | 3,219 | $ | 2,751 | $ | 13,245 | $ | 9,088 | $ | 5,344 | ||||||||||||||||||||
New TDRs | 210 | 835 | 138 | 388 | 711 | 518 | 770 | 2,918 | 3,268 | 319 | 1,043 | 883 | 1,687 | 5,507 | 4,807 | |||||||||||||||||||||||||||||||||||
Charge-offs post-modification(a) | (31 | ) | (31 | ) | (15 | ) | (100 | ) | (2 | ) | (78 | ) | (51 | ) | (135 | ) | (119 | ) | (93 | ) | (208 | ) | (234 | ) | (275 | ) | (376 | ) | (446 | ) | ||||||||||||||||||||
Foreclosures and other liquidations (e.g., short sales) | (18 | ) | (5 | ) | — | (24 | ) | (21 | ) | (11 | ) | (145 | ) | (138 | ) | (108 | ) | (73 | ) | (113 | ) | (82 | ) | (260 | ) | (277 | ) | (201 | ) | |||||||||||||||||||||
Principal payments and other | (107 | ) | (42 | ) | (14 | ) | (168 | ) | (122 | ) | (55 | ) | (688 | ) | (404 | ) | (248 | ) | (267 | ) | (129 | ) | (99 | ) | (1,230 | ) | (697 | ) | (416 | ) | ||||||||||||||||||||
Ending balance of TDRs | $ | 1,146 | $ | 1,092 | $ | 335 | $ | 1,319 | $ | 1,223 | $ | 657 | $ | 7,004 | $ | 7,118 | $ | 4,877 | $ | 3,698 | $ | 3,812 | $ | 3,219 | $ | 13,167 | $ | 13,245 | $ | 9,088 | ||||||||||||||||||||
Permanent modifications | $ | 1,107 | $ | 1,058 | $ | 285 | $ | 1,313 | $ | 1,218 | $ | 634 | $ | 6,838 | $ | 6,834 | $ | 4,601 | $ | 3,596 | $ | 3,661 | $ | 3,029 | $ | 12,854 | $ | 12,771 | $ | 8,549 | ||||||||||||||||||||
Trial modifications | $ | 39 | $ | 34 | $ | 50 | $ | 6 | $ | 5 | $ | 23 | $ | 166 | $ | 284 | $ | 276 | $ | 102 | $ | 151 | $ | 190 | $ | 313 | $ | 474 | $ | 539 | ||||||||||||||||||||
(a) | Includes charge-offs on unsuccessful trial modifications. | |||||||||||||||||||||||||||||||||||||||||||||||||
Nature and extent of modifications | ||||||||||||||||||||||||||||||||||||||||||||||||||
Making Home Affordable (“MHA”), as well as the Firm’s proprietary modification programs, generally provide various concessions to financially troubled borrowers including, but not limited to, interest rate reductions, term or payment extensions and deferral of principal and/or interest payments that would otherwise have been required under the terms of the original agreement. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information about how residential real estate loans, excluding PCI loans, were modified under the Firm’s loss mitigation programs during the periods presented. This table excludes Chapter 7 loans where the sole concession granted is the discharge of debt. At December 31, 2013, there were approximately 36,700 of such Chapter 7 loans, consisting of approximately 8,800 senior lien home equity loans, 21,700 junior lien home equity loans, 3,100 prime mortgage, including option ARMs, and 3,100 subprime mortgages. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended Dec. 31, | Home equity | Mortgages | Total residential real estate | |||||||||||||||||||||||||||||||||||||||||||||||
Senior lien | Junior lien | Prime, including | Subprime | - excluding PCI | ||||||||||||||||||||||||||||||||||||||||||||||
option ARMs | ||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||
Number | 1,719 | 1,695 | 1,219 | 884 | 918 | 1,308 | 2,846 | 3,895 | 4,676 | 4,233 | 4,841 | 6,446 | 9,682 | 11,349 | 13,649 | |||||||||||||||||||||||||||||||||||
of loans approved | ||||||||||||||||||||||||||||||||||||||||||||||||||
for a trial modification(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Number | 1,765 | 4,385 | 1,006 | 5,040 | 7,430 | 9,142 | 4,356 | 9,043 | 9,579 | 5,364 | 9,964 | 4,972 | 16,525 | 30,822 | 24,699 | |||||||||||||||||||||||||||||||||||
of loans permanently modified | ||||||||||||||||||||||||||||||||||||||||||||||||||
Concession granted:(a)(b) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate reduction | 70 | % | 83 | % | 80 | % | 88 | % | 88 | % | 95 | % | 73 | % | 74 | % | 53 | % | 72 | % | 69 | % | 80 | % | 77 | % | 77 | % | 75 | % | ||||||||||||||||||||
Term or payment extension | 76 | 47 | 88 | 80 | 76 | 81 | 73 | 57 | 71 | 56 | 41 | 72 | 70 | 55 | 75 | |||||||||||||||||||||||||||||||||||
Principal and/or interest deferred | 12 | 6 | 10 | 24 | 17 | 21 | 30 | 16 | 17 | 13 | 7 | 19 | 21 | 12 | 19 | |||||||||||||||||||||||||||||||||||
Principal forgiveness | 38 | 11 | 7 | 32 | 23 | 20 | 38 | 29 | 2 | 48 | 42 | 13 | 39 | 29 | 11 | |||||||||||||||||||||||||||||||||||
Other(c) | — | — | 29 | — | — | 7 | 23 | 29 | 68 | 14 | 8 | 26 | 11 | 11 | 35 | |||||||||||||||||||||||||||||||||||
(a) | Prior period amounts have been revised to conform with the current presentation. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Represents concessions granted in permanent modifications as a percentage of the number of loans permanently modified. The sum of the percentages exceeds 100% because predominantly all of the modifications include more than one type of concession. A significant portion of trial modifications include interest rate reductions and/or term or payment extensions. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | Represents variable interest rate to fixed interest rate modifications. | |||||||||||||||||||||||||||||||||||||||||||||||||
Financial effects of modifications and redefaults | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information about the financial effects of the various concessions granted in modifications of residential real estate loans, excluding PCI, under the Firm’s loss mitigation programs and about redefaults of certain loans modified in TDRs for the periods presented. Because the specific types and amounts of concessions offered to borrowers frequently change between the trial modification and the permanent modification, the following tables present only the financial effects of permanent modifications. These tables also exclude Chapter 7 loans where the sole concession granted is the discharge of debt. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended | Home equity | Mortgages | Total residential real estate – excluding PCI | |||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Senior lien | Junior lien | Prime, including | Subprime | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except weighted-average data and number of loans) | option ARMs | |||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 6.35 | % | 7.2 | % | 7.25 | % | 5.05 | % | 5.45 | % | 5.46 | % | 5.28 | % | 6.14 | % | 5.98 | % | 7.33 | % | 7.73 | % | 8.25 | % | 5.88 | % | 6.57 | % | 6.44 | % | ||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – after TDR | 3.23 | 4.61 | 3.51 | 2.14 | 1.94 | 1.49 | 2.77 | 3.67 | 3.34 | 3.52 | 4.14 | 3.46 | 2.92 | 3.69 | 3.09 | |||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 19 | 18 | 18 | 20 | 20 | 21 | 25 | 25 | 25 | 24 | 24 | 23 | 23 | 24 | 24 | |||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 31 | 28 | 30 | 34 | 32 | 34 | 37 | 36 | 35 | 35 | 32 | 34 | 36 | 34 | 35 | |||||||||||||||||||||||||||||||||||
Charge-offs recognized upon permanent modification | $ | 7 | $ | 8 | $ | 1 | $ | 70 | $ | 65 | $ | 117 | $ | 16 | $ | 35 | $ | 61 | $ | 5 | $ | 29 | $ | 19 | $ | 98 | $ | 137 | $ | 198 | ||||||||||||||||||||
Principal deferred | 7 | 4 | 4 | 24 | 23 | 35 | 129 | 133 | 167 | 43 | 43 | 61 | 203 | 203 | 267 | |||||||||||||||||||||||||||||||||||
Principal forgiven | 30 | 20 | 1 | 51 | 58 | 62 | 206 | 249 | 20 | 218 | 324 | 46 | 505 | 651 | 129 | |||||||||||||||||||||||||||||||||||
Number of loans that redefaulted within one year of permanent modification(a) | 404 | 374 | 222 | 1,069 | 1,436 | 1,310 | 673 | 920 | 1,142 | 1,072 | 1,426 | 1,989 | 3,218 | 4,156 | 4,663 | |||||||||||||||||||||||||||||||||||
Balance of loans that redefaulted within one year of permanent modification(a) | $ | 26 | $ | 30 | $ | 18 | $ | 20 | $ | 46 | $ | 52 | $ | 164 | $ | 255 | $ | 340 | $ | 106 | $ | 156 | $ | 281 | $ | 316 | $ | 487 | $ | 691 | ||||||||||||||||||||
(a) | Represents loans permanently modified in TDRs that experienced a payment default in the periods presented, and for which the payment default occurred within one year of the modification. The dollar amounts presented represent the balance of such loans at the end of the reporting period in which such loans defaulted. For residential real estate loans modified in TDRs, payment default is deemed to occur when the loan becomes two contractual payments past due. In the event that a modified loan redefaults, it is probable that the loan will ultimately be liquidated through foreclosure or another similar type of liquidation transaction. Redefaults of loans modified within the last 12 months may not be representative of ultimate redefault levels. | |||||||||||||||||||||||||||||||||||||||||||||||||
Approximately 85% of the trial modifications approved on or after July 1, 2010 (the approximate date on which substantial revisions were made to the HAMP program), that are seasoned more than six months have been successfully converted to permanent modifications. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The primary performance indicator for TDRs is the rate at which permanently modified loans redefault. At December 31, 2013, the cumulative redefault rates of residential real estate loans that have been modified under the Firm’s loss mitigation programs, excluding PCI loans, based upon permanent modifications that were completed after October 1, 2009, and that are seasoned more than six months, are 20% for senior lien home equity, 20% for junior lien home equity, 15% for prime mortgages, including option ARMs, and 26% for subprime mortgages. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Default rates of Chapter 7 loans vary significantly based on the delinquency status of the loan and overall economic conditions at the time of discharge. Default rates for Chapter 7 residential real estate loans that were less than 60 days past due at the time of discharge have ranged between approximately 10% and 40% in recent years based on the economic conditions at the time of discharge. At December 31, 2013, Chapter 7 residential real estate loans included approximately 20% of senior lien home equity, 11% of junior lien home equity, 33% of prime mortgages, including option ARMs, and 23% of subprime mortgages that were 30 days or more past due. | ||||||||||||||||||||||||||||||||||||||||||||||||||
At December 31, 2013, the weighted-average estimated remaining lives of residential real estate loans, excluding PCI loans, permanently modified in TDRs were 6 years for senior lien home equity, 7 years for junior lien home equity, 10 years for prime mortgages, including option ARMs and 8 years for subprime mortgage. The estimated remaining lives of these loans reflect estimated prepayments, both voluntary and involuntary (i.e., foreclosures and other forced liquidations). | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other consumer loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
The table below provides information for other consumer retained loan classes, including auto, business banking and student loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Auto | Business banking | Student and other | Total other consumer | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||
Loan delinquency(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current | $ | 52,152 | $ | 49,290 | $ | 18,511 | $ | 18,482 | $ | 10,529 | $ | 11,038 | $ | 81,192 | $ | 78,810 | ||||||||||||||||||||||||||||||||||
30–119 days past due | 599 | 616 | 280 | 263 | 660 | 709 | 1,539 | 1,588 | ||||||||||||||||||||||||||||||||||||||||||
120 or more days past due | 6 | 7 | 160 | 138 | 368 | 444 | 534 | 589 | ||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 52,757 | $ | 49,913 | $ | 18,951 | $ | 18,883 | $ | 11,557 | $ | 12,191 | $ | 83,265 | $ | 80,987 | ||||||||||||||||||||||||||||||||||
% of 30+ days past due to total retained loans | 1.15 | % | 1.25 | % | 2.32 | % | 2.12 | % | 2.52 | % | (d) | 2.12 | % | (d) | 1.6 | % | (d) | 1.58 | % | (d) | ||||||||||||||||||||||||||||||
90 or more days past due and still accruing (b) | $ | — | $ | — | $ | — | $ | — | $ | 428 | $ | 525 | $ | 428 | $ | 525 | ||||||||||||||||||||||||||||||||||
Nonaccrual loans | 161 | 163 | 385 | 481 | 86 | 70 | 632 | 714 | ||||||||||||||||||||||||||||||||||||||||||
Geographic region | ||||||||||||||||||||||||||||||||||||||||||||||||||
California | $ | 5,615 | $ | 4,962 | $ | 2,374 | $ | 1,983 | $ | 1,112 | $ | 1,108 | $ | 9,101 | $ | 8,053 | ||||||||||||||||||||||||||||||||||
New York | 3,898 | 3,742 | 3,084 | 2,981 | 1,218 | 1,202 | 8,200 | 7,925 | ||||||||||||||||||||||||||||||||||||||||||
Illinois | 2,917 | 2,738 | 1,341 | 1,404 | 740 | 748 | 4,998 | 4,890 | ||||||||||||||||||||||||||||||||||||||||||
Florida | 2,012 | 1,922 | 646 | 527 | 539 | 556 | 3,197 | 3,005 | ||||||||||||||||||||||||||||||||||||||||||
Texas | 5,310 | 4,739 | 2,646 | 2,749 | 878 | 891 | 8,834 | 8,379 | ||||||||||||||||||||||||||||||||||||||||||
New Jersey | 2,014 | 1,921 | 392 | 379 | 397 | 409 | 2,803 | 2,709 | ||||||||||||||||||||||||||||||||||||||||||
Arizona | 1,855 | 1,719 | 1,046 | 1,139 | 252 | 265 | 3,153 | 3,123 | ||||||||||||||||||||||||||||||||||||||||||
Washington | 950 | 824 | 234 | 202 | 227 | 287 | 1,411 | 1,313 | ||||||||||||||||||||||||||||||||||||||||||
Michigan | 1,902 | 2,091 | 1,383 | 1,368 | 513 | 548 | 3,798 | 4,007 | ||||||||||||||||||||||||||||||||||||||||||
Ohio | 2,229 | 2,462 | 1,316 | 1,443 | 708 | 770 | 4,253 | 4,675 | ||||||||||||||||||||||||||||||||||||||||||
All other | 24,055 | 22,793 | 4,489 | 4,708 | 4,973 | 5,407 | 33,517 | 32,908 | ||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 52,757 | $ | 49,913 | $ | 18,951 | $ | 18,883 | $ | 11,557 | $ | 12,191 | $ | 83,265 | $ | 80,987 | ||||||||||||||||||||||||||||||||||
Loans by risk ratings(c) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Noncriticized | $ | 9,968 | $ | 8,882 | $ | 13,622 | $ | 13,336 | NA | NA | $ | 23,590 | $ | 22,218 | ||||||||||||||||||||||||||||||||||||
Criticized performing | 54 | 130 | 711 | 713 | NA | NA | 765 | 843 | ||||||||||||||||||||||||||||||||||||||||||
Criticized nonaccrual | 38 | 4 | 316 | 386 | NA | NA | 354 | 390 | ||||||||||||||||||||||||||||||||||||||||||
(a) | Individual delinquency classifications included loans insured by U.S. government agencies under the Federal Family Education Loan Program (“FFELP”) as follows: current included $4.9 billion and $5.4 billion; 30-119 days past due included $387 million and $466 million; and 120 or more days past due included $350 million and $428 million at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | These amounts represent student loans, which are insured by U.S. government agencies under the FFELP. These amounts were accruing as reimbursement of insured amounts is proceeding normally. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | For risk-rated business banking and auto loans, the primary credit quality indicator is the risk rating of the loan, including whether the loans are considered to be criticized and/or nonaccrual. | |||||||||||||||||||||||||||||||||||||||||||||||||
(d) | December 31, 2013 and 2012, excluded loans 30 days or more past due and still accruing, which are insured by U.S. government agencies under the FFELP, of $737 million and $894 million, respectively. These amounts were excluded as reimbursement of insured amounts is proceeding normally. | |||||||||||||||||||||||||||||||||||||||||||||||||
Other consumer impaired loans and loan modifications | ||||||||||||||||||||||||||||||||||||||||||||||||||
The table below sets forth information about the Firm’s other consumer impaired loans, including risk-rated business banking and auto loans that have been placed on nonaccrual status, and loans that have been modified in TDRs. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Auto | Business banking | Total other consumer(c) | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
With an allowance | $ | 96 | $ | 78 | $ | 475 | $ | 543 | $ | 571 | $ | 621 | ||||||||||||||||||||||||||||||||||||||
Without an allowance(a) | 47 | 72 | — | — | 47 | 72 | ||||||||||||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 143 | $ | 150 | $ | 475 | $ | 543 | $ | 618 | $ | 693 | ||||||||||||||||||||||||||||||||||||||
Allowance for loan losses related to impaired loans | $ | 13 | $ | 12 | $ | 94 | $ | 126 | $ | 107 | $ | 138 | ||||||||||||||||||||||||||||||||||||||
Unpaid principal balance of impaired loans(b) | 235 | 259 | 553 | 624 | 788 | 883 | ||||||||||||||||||||||||||||||||||||||||||||
Impaired loans on nonaccrual status | 113 | 109 | 328 | 394 | 441 | 503 | ||||||||||||||||||||||||||||||||||||||||||||
(a) | When discounted cash flows, collateral value or market price equals or exceeds the recorded investment in the loan, the loan does not require an allowance. This typically occurs when the impaired loans have been partially charged off and/or there have been interest payments received and applied to the loan balance. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Represents the contractual amount of principal owed at December 31, 2013 and 2012. The unpaid principal balance differs from the impaired loan balances due to various factors, including charge-offs; interest payments received and applied to the principal balance; net deferred loan fees or costs; and unamortized discounts or premiums on purchased loans. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | There were no impaired student and other loans at December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents average impaired loans for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | Average impaired loans(b) | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
Auto | $ | 132 | $ | 111 | $ | 92 | ||||||||||||||||||||||||||||||||||||||||||||
Business banking | 516 | 622 | 760 | |||||||||||||||||||||||||||||||||||||||||||||||
Total other consumer(a) | $ | 648 | $ | 733 | $ | 852 | ||||||||||||||||||||||||||||||||||||||||||||
(a) | There were no impaired student and other loans for the years ended 2013, 2012 and 2011. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | The related interest income on impaired loans, including those on a cash basis, was not material for the years ended 2013, 2012 and 2011. | |||||||||||||||||||||||||||||||||||||||||||||||||
Loan modifications | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information about the Firm’s other consumer loans modified in TDRs. All of these TDRs are reported as impaired loans in the tables above. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Auto | Business banking | Total other consumer(c) | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||
Loans modified in troubled debt restructurings(a)(b) | $ | 107 | $ | 150 | $ | 271 | $ | 352 | $ | 378 | $ | 502 | ||||||||||||||||||||||||||||||||||||||
TDRs on nonaccrual status | 77 | 109 | 124 | 203 | 201 | 312 | ||||||||||||||||||||||||||||||||||||||||||||
(a) | These modifications generally provided interest rate concessions to the borrower or term or payment extensions. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Additional commitments to lend to borrowers whose loans have been modified in TDRs as of December 31, 2013 and 2012 were immaterial. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | There were no student and other loans modified in TDRs at December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||||||||||||||
TDR activity rollforward | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following table reconciles the beginning and ending balances of other consumer loans modified in TDRs for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | Auto | Business banking | Total other consumer | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||
Beginning balance of TDRs | $ | 150 | $ | 88 | $ | 91 | $ | 352 | $ | 415 | $ | 395 | $ | 502 | $ | 503 | $ | 486 | ||||||||||||||||||||||||||||||||
New TDRs | 90 | 145 | 54 | 66 | 104 | 195 | 156 | 249 | 249 | |||||||||||||||||||||||||||||||||||||||||
Charge-offs post-modification | (10 | ) | (9 | ) | (5 | ) | (10 | ) | (9 | ) | (11 | ) | (20 | ) | (18 | ) | (16 | ) | ||||||||||||||||||||||||||||||||
Foreclosures and other liquidations | — | — | — | — | (1 | ) | (3 | ) | — | (1 | ) | (3 | ) | |||||||||||||||||||||||||||||||||||||
Principal payments and other | (123 | ) | (74 | ) | (52 | ) | (137 | ) | (157 | ) | (161 | ) | (260 | ) | (231 | ) | (213 | ) | ||||||||||||||||||||||||||||||||
Ending balance of TDRs | $ | 107 | $ | 150 | $ | 88 | $ | 271 | $ | 352 | $ | 415 | $ | 378 | $ | 502 | $ | 503 | ||||||||||||||||||||||||||||||||
Financial effects of modifications and redefaults | ||||||||||||||||||||||||||||||||||||||||||||||||||
For auto loans, TDRs typically occur in connection with the bankruptcy of the borrower. In these cases, the loan is modified with a revised repayment plan that typically incorporates interest rate reductions and, to a lesser extent, principal forgiveness. Beginning September 30, 2012, Chapter 7 auto loans are also considered TDRs. | ||||||||||||||||||||||||||||||||||||||||||||||||||
For business banking loans, concessions are dependent on individual borrower circumstances and can be of a short-term nature for borrowers who need temporary relief or longer term for borrowers experiencing more fundamental financial difficulties. Concessions are predominantly term or payment extensions, but also may include interest rate reductions. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The balance of business banking loans modified in TDRs that experienced a payment default, and for which the payment default occurred within one year of the modification, was $43 million, $42 million and $80 million, during the years ended December 31, 2013, 2012 and 2011, respectively. The balance of auto loans modified in TDRs that experienced a payment default, and for which the payment default occurred within one year of the modification, was $54 million and $46 million during the years ended December 31, 2013 and 2012, respectively. The corresponding amount for the year ended December 31, 2011 was insignificant. A payment default is deemed to occur as follows: (1) for scored auto and business banking loans, when the loan is two payments past due; and (2) for risk-rated business banking loans and auto loans, when the borrower has not made a loan payment by its scheduled due date after giving effect to the contractual grace period, if any. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information about the financial effects of the various concessions granted in modifications of other consumer loans for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | Auto | Business banking | ||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 13.66 | % | 12.64 | % | 12.45 | % | 8.37 | % | 7.33 | % | 7.55 | % | ||||||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – after TDR | 4.94 | 4.83 | 5.7 | 6.05 | 5.49 | 5.52 | ||||||||||||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | NM | NM | NM | 1.1 | 1.4 | 1.4 | ||||||||||||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | NM | NM | NM | 3.1 | 2.4 | 2.6 | ||||||||||||||||||||||||||||||||||||||||||||
Purchased credit-impaired loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
PCI loans are initially recorded at fair value at acquisition; PCI loans acquired in the same fiscal quarter may be aggregated into one or more pools, provided that the loans have common risk characteristics. A pool is then accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows. With respect to the Washington Mutual transaction, all of the consumer PCI loans were aggregated into pools of loans with common risk characteristics. | ||||||||||||||||||||||||||||||||||||||||||||||||||
On a quarterly basis, the Firm estimates the total cash flows (both principal and interest) expected to be collected over the remaining life of each pool. These estimates incorporate assumptions regarding default rates, loss severities, the amounts and timing of prepayments and other factors that reflect then-current market conditions. Probable decreases in expected cash flows (i.e., increased credit losses) trigger the recognition of impairment, which is then measured as the present value of the expected principal loss plus any related foregone interest cash flows, discounted at the pool’s effective interest rate. Impairments are recognized through the provision for credit losses and an increase in the allowance for loan losses. Probable and significant increases in expected cash flows (e.g., decreased credit losses, the net benefit of modifications) would first reverse any previously recorded allowance for loan losses with any remaining increases recognized prospectively as a yield adjustment over the remaining estimated lives of the underlying loans. The impacts of (i) prepayments, (ii) changes in variable interest rates, and (iii) any other changes in the timing of expected cash flows are recognized prospectively as adjustments to interest income. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The Firm continues to modify certain PCI loans. The impact of these modifications is incorporated into the Firm’s quarterly assessment of whether a probable and significant change in expected cash flows has occurred, and the loans continue to be accounted for and reported as PCI loans. In evaluating the effect of modifications on expected cash flows, the Firm incorporates the effect of any foregone interest and also considers the potential for redefault. The Firm develops product-specific probability of default estimates, which are used to compute expected credit losses. In developing these probabilities of default, the Firm considers the relationship between the credit quality characteristics of the underlying loans and certain assumptions about home prices and unemployment based upon industry-wide data. The Firm also considers its own historical loss experience to-date based on actual redefaulted modified PCI loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The excess of cash flows expected to be collected over the carrying value of the underlying loans is referred to as the accretable yield. This amount is not reported on the Firm’s Consolidated Balance Sheets but is accreted into interest income at a level rate of return over the remaining estimated lives of the underlying pools of loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
If the timing and/or amounts of expected cash flows on PCI loans were determined not to be reasonably estimable, no interest would be accreted and the loans would be reported as nonaccrual loans; however, since the timing and amounts of expected cash flows for the Firm’s PCI consumer loans are reasonably estimable, interest is being accreted and the loans are being reported as performing loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The liquidation of PCI loans, which may include sales of loans, receipt of payment in full by the borrower, or foreclosure, results in removal of the loans from the underlying PCI pool. When the amount of the liquidation proceeds (e.g., cash, real estate), if any, is less than the unpaid principal balance of the loan, the difference is first applied against the PCI pool’s nonaccretable difference for principal losses (i.e., the lifetime credit loss estimate established as a purchase accounting adjustment at the acquisition date). When the nonaccretable difference for a particular loan pool has been fully depleted, any excess of the unpaid principal balance of the loan over the liquidation proceeds is written off against the PCI pool’s allowance for loan losses. Because the Firm’s PCI loans are accounted for at a pool level, the Firm does not recognize charge-offs of PCI loans when they reach specified stages of delinquency (i.e., unlike non-PCI consumer loans, these loans are not charged off based on FFIEC standards). | ||||||||||||||||||||||||||||||||||||||||||||||||||
The PCI portfolio affects the Firm’s results of operations primarily through: (i) contribution to net interest margin; (ii) expense related to defaults and servicing resulting from the liquidation of the loans; and (iii) any provision for loan losses. The PCI loans acquired in the Washington Mutual transaction were funded based on the interest rate characteristics of the loans. For example, variable-rate loans were funded with variable-rate liabilities and fixed-rate loans were funded with fixed-rate liabilities with a similar maturity profile. A net spread will be earned on the declining balance of the portfolio, which is estimated as of December 31, 2013, to have a remaining weighted-average life of 8 years. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate – PCI loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
The table below sets forth information about the Firm’s consumer, excluding credit card, PCI loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Home equity | Prime mortgage | Subprime mortgage | Option ARMs | Total PCI | |||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||
Carrying value(a) | $ | 18,927 | $ | 20,971 | $ | 12,038 | $ | 13,674 | $ | 4,175 | $ | 4,626 | $ | 17,915 | $ | 20,466 | $ | 53,055 | $ | 59,737 | ||||||||||||||||||||||||||||||
Related allowance for loan losses(b) | 1,758 | 1,908 | 1,726 | 1,929 | 180 | 380 | 494 | 1,494 | 4,158 | 5,711 | ||||||||||||||||||||||||||||||||||||||||
Loan delinquency (based on unpaid principal balance) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current | $ | 18,135 | $ | 20,331 | $ | 10,118 | $ | 11,078 | $ | 4,012 | $ | 4,198 | $ | 15,501 | $ | 16,415 | $ | 47,766 | $ | 52,022 | ||||||||||||||||||||||||||||||
30–149 days past due | 583 | 803 | 589 | 740 | 662 | 698 | 1,006 | 1,314 | 2,840 | 3,555 | ||||||||||||||||||||||||||||||||||||||||
150 or more days past due | 1,112 | 1,209 | 1,169 | 2,066 | 797 | 1,430 | 2,716 | 4,862 | 5,794 | 9,567 | ||||||||||||||||||||||||||||||||||||||||
Total loans | $ | 19,830 | $ | 22,343 | $ | 11,876 | $ | 13,884 | $ | 5,471 | $ | 6,326 | $ | 19,223 | $ | 22,591 | $ | 56,400 | $ | 65,144 | ||||||||||||||||||||||||||||||
% of 30+ days past due to total loans | 8.55 | % | 9.01 | % | 14.8 | % | 20.21 | % | 26.67 | % | 33.64 | % | 19.36 | % | 27.34 | % | 15.31 | % | 20.14 | % | ||||||||||||||||||||||||||||||
Current estimated LTV ratios (based on unpaid principal balance)(c)(d) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Greater than 125% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | $ | 1,168 | $ | 4,508 | $ | 240 | $ | 1,478 | $ | 115 | $ | 375 | $ | 301 | $ | 1,597 | $ | 1,824 | $ | 7,958 | ||||||||||||||||||||||||||||||
Less than 660 | 662 | 2,344 | 290 | 1,449 | 459 | 1,300 | 575 | 2,729 | 1,986 | 7,822 | ||||||||||||||||||||||||||||||||||||||||
101% to 125% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 3,248 | 4,966 | 1,017 | 2,968 | 316 | 434 | 1,164 | 3,281 | 5,745 | 11,649 | ||||||||||||||||||||||||||||||||||||||||
Less than 660 | 1,541 | 2,098 | 884 | 1,983 | 919 | 1,256 | 1,563 | 3,200 | 4,907 | 8,537 | ||||||||||||||||||||||||||||||||||||||||
80% to 100% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 4,473 | 3,531 | 2,787 | 1,872 | 544 | 416 | 3,311 | 3,794 | 11,115 | 9,613 | ||||||||||||||||||||||||||||||||||||||||
Less than 660 | 1,782 | 1,305 | 1,699 | 1,378 | 1,197 | 1,182 | 2,769 | 2,974 | 7,447 | 6,839 | ||||||||||||||||||||||||||||||||||||||||
Lower than 80% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 5,077 | 2,524 | 2,897 | 1,356 | 521 | 255 | 5,671 | 2,624 | 14,166 | 6,759 | ||||||||||||||||||||||||||||||||||||||||
Less than 660 | 1,879 | 1,067 | 2,062 | 1,400 | 1,400 | 1,108 | 3,869 | 2,392 | 9,210 | 5,967 | ||||||||||||||||||||||||||||||||||||||||
Total unpaid principal balance | $ | 19,830 | $ | 22,343 | $ | 11,876 | $ | 13,884 | $ | 5,471 | $ | 6,326 | $ | 19,223 | $ | 22,591 | $ | 56,400 | $ | 65,144 | ||||||||||||||||||||||||||||||
Geographic region (based on unpaid principal balance) | ||||||||||||||||||||||||||||||||||||||||||||||||||
California | $ | 11,937 | $ | 13,493 | $ | 6,845 | $ | 7,877 | $ | 1,293 | $ | 1,444 | $ | 10,419 | $ | 11,889 | $ | 30,494 | $ | 34,703 | ||||||||||||||||||||||||||||||
New York | 962 | 1,067 | 807 | 927 | 563 | 649 | 1,196 | 1,404 | 3,528 | 4,047 | ||||||||||||||||||||||||||||||||||||||||
Illinois | 451 | 502 | 353 | 433 | 283 | 338 | 481 | 587 | 1,568 | 1,860 | ||||||||||||||||||||||||||||||||||||||||
Florida | 1,865 | 2,054 | 826 | 1,023 | 526 | 651 | 1,817 | 2,480 | 5,034 | 6,208 | ||||||||||||||||||||||||||||||||||||||||
Texas | 327 | 385 | 106 | 148 | 328 | 368 | 100 | 118 | 861 | 1,019 | ||||||||||||||||||||||||||||||||||||||||
New Jersey | 381 | 423 | 334 | 401 | 213 | 260 | 701 | 854 | 1,629 | 1,938 | ||||||||||||||||||||||||||||||||||||||||
Arizona | 361 | 408 | 187 | 215 | 95 | 105 | 264 | 305 | 907 | 1,033 | ||||||||||||||||||||||||||||||||||||||||
Washington | 1,072 | 1,215 | 266 | 328 | 112 | 142 | 463 | 563 | 1,913 | 2,248 | ||||||||||||||||||||||||||||||||||||||||
Michigan | 62 | 70 | 189 | 211 | 145 | 163 | 206 | 235 | 602 | 679 | ||||||||||||||||||||||||||||||||||||||||
Ohio | 23 | 27 | 55 | 71 | 84 | 100 | 75 | 89 | 237 | 287 | ||||||||||||||||||||||||||||||||||||||||
All other | 2,389 | 2,699 | 1,908 | 2,250 | 1,829 | 2,106 | 3,501 | 4,067 | 9,627 | 11,122 | ||||||||||||||||||||||||||||||||||||||||
Total unpaid principal balance | $ | 19,830 | $ | 22,343 | $ | 11,876 | $ | 13,884 | $ | 5,471 | $ | 6,326 | $ | 19,223 | $ | 22,591 | $ | 56,400 | $ | 65,144 | ||||||||||||||||||||||||||||||
(a) | Carrying value includes the effect of fair value adjustments that were applied to the consumer PCI portfolio at the date of acquisition. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Management concluded as part of the Firm’s regular assessment of the PCI loan pools that it was probable that higher expected credit losses would result in a decrease in expected cash flows. As a result, an allowance for loan losses for impairment of these pools has been recognized. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | Represents the aggregate unpaid principal balance of loans divided by the estimated current property value. Current property values are estimated, at a minimum, quarterly, based on home valuation models using nationally recognized home price index valuation estimates incorporating actual data to the extent available and forecasted data where actual data is not available. These property values do not represent actual appraised loan level collateral values; as such, the resulting ratios are necessarily imprecise and should be viewed as estimates. Current estimated combined LTV for junior lien home equity loans considers all available lien positions, as well as unused lines, related to the property. | |||||||||||||||||||||||||||||||||||||||||||||||||
(d) | Refreshed FICO scores represent each borrower’s most recent credit score, which is obtained by the Firm on at least a quarterly basis. | |||||||||||||||||||||||||||||||||||||||||||||||||
Approximately 20% of the PCI home equity portfolio are senior lien loans; the remaining balance are junior lien HELOANs or HELOCs. The following tables set forth delinquency statistics for PCI junior lien home equity loans and lines of credit based on unpaid principal balance as of December 31, 2013 and 2012. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Delinquencies | Total 30+ day delinquency rate | |||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | 30–89 days past due | 90–149 days past due | 150+ days | Total loans | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | past due | |||||||||||||||||||||||||||||||||||||||||||||||||
HELOCs:(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Within the revolving period(b) | $ | 243 | $ | 88 | $ | 526 | $ | 12,670 | 6.76 | % | ||||||||||||||||||||||||||||||||||||||||
Beyond the revolving period(c) | 54 | 21 | 82 | 2,336 | 6.72 | |||||||||||||||||||||||||||||||||||||||||||||
HELOANs | 24 | 11 | 39 | 908 | 8.15 | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 321 | $ | 120 | $ | 647 | $ | 15,914 | 6.84 | % | ||||||||||||||||||||||||||||||||||||||||
Delinquencies | Total 30+ day delinquency rate | |||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | 30–89 days past due | 90–149 days past due | 150+ days | Total loans | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | past due | |||||||||||||||||||||||||||||||||||||||||||||||||
HELOCs:(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Within the revolving period(b) | $ | 361 | $ | 175 | $ | 591 | $ | 15,915 | 7.08 | % | ||||||||||||||||||||||||||||||||||||||||
Beyond the revolving period(c) | 30 | 13 | 20 | 666 | 9.46 | |||||||||||||||||||||||||||||||||||||||||||||
HELOANs | 37 | 18 | 44 | 1,085 | 9.12 | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 428 | $ | 206 | $ | 655 | $ | 17,666 | 7.3 | % | ||||||||||||||||||||||||||||||||||||||||
(a) | In general, these HELOCs are revolving loans for a 10-year period, after which time the HELOC converts to an interest-only loan with a balloon payment at the end of the loan’s term. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Substantially all undrawn HELOCs within the revolving period have been closed. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | Includes loans modified into fixed-rate amortizing loans. | |||||||||||||||||||||||||||||||||||||||||||||||||
The table below sets forth the accretable yield activity for the Firm’s PCI consumer loans for the years ended December 31, 2013, 2012 and 2011, and represents the Firm’s estimate of gross interest income expected to be earned over the remaining life of the PCI loan portfolios. The table excludes the cost to fund the PCI portfolios, and therefore the accretable yield does not represent net interest income expected to be earned on these portfolios. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | Total PCI | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 18,457 | $ | 19,072 | $ | 19,097 | ||||||||||||||||||||||||||||||||||||||||||||
Accretion into interest income | (2,201 | ) | (2,491 | ) | (2,767 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Changes in interest rates on variable-rate loans | (287 | ) | (449 | ) | (573 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Other changes in expected cash flows(a) | 198 | 2,325 | 3,315 | |||||||||||||||||||||||||||||||||||||||||||||||
Balance at December 31 | $ | 16,167 | $ | 18,457 | $ | 19,072 | ||||||||||||||||||||||||||||||||||||||||||||
Accretable yield percentage | 4.31 | % | 4.38 | % | 4.33 | % | ||||||||||||||||||||||||||||||||||||||||||||
(a) | Other changes in expected cash flows may vary from period to period as the Firm continues to refine its cash flow model and periodically updates model assumptions. For the year ended December 31, 2013, other changes in expected cash flows were due to refining the expected interest cash flows on HELOCs with balloon payments, partially offset by changes in prepayment assumptions. For the years ended December 31, 2012 and December 31, 2011, other changes in expected cash flows were principally driven by the impact of modifications, but also related to changes in prepayment assumptions. | |||||||||||||||||||||||||||||||||||||||||||||||||
The factors that most significantly affect estimates of gross cash flows expected to be collected, and accordingly the accretable yield balance, include: (i) changes in the benchmark interest rate indices for variable-rate products such as option ARM and home equity loans; and (ii) changes in prepayment assumptions. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Since the date of acquisition, the decrease in the accretable yield percentage has been primarily related to a decrease in interest rates on variable-rate loans and, to a lesser extent, extended loan liquidation periods. Certain events, such as extended or shortened loan liquidation periods, affect the timing of expected cash flows and the accretable yield percentage, but not the amount of cash expected to be received (i.e., the accretable yield balance). While extended loan liquidation periods reduce the accretable yield percentage (because the same accretable yield balance is recognized against a higher-than-expected loan balance over a longer-than-expected period of time), shortened loan liquidation periods would have the opposite effect. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Credit card [Member] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Credit card loan portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||
The credit card portfolio segment includes credit card loans originated and purchased by the Firm. Delinquency rates are the primary credit quality indicator for credit card loans as they provide an early warning that borrowers may be experiencing difficulties (30 days past due); information on those borrowers that have been delinquent for a longer period of time (90 days past due) is also considered. In addition to delinquency rates, the geographic distribution of the loans provides insight as to the credit quality of the portfolio based on the regional economy. | ||||||||||||||||||||||||||||||||||||||||||||||||||
While the borrower’s credit score is another general indicator of credit quality, the Firm does not view credit scores as a primary indicator of credit quality because the borrower’s credit score tends to be a lagging indicator. However, the distribution of such scores provides a general indicator of credit quality trends within the portfolio. Refreshed FICO score information, which is obtained at least quarterly, for a statistically significant random sample of the credit card portfolio is indicated in the table below; FICO is considered to be the industry benchmark for credit scores. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The Firm generally originates new card accounts to prime consumer borrowers. However, certain cardholders’ FICO scores may decrease over time, depending on the performance of the cardholder and changes in credit score technology. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The table below sets forth information about the Firm’s credit card loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
As of or for the year ended December 31, | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net charge-offs | $ | 3,879 | $ | 4,944 | ||||||||||||||||||||||||||||||||||||||||||||||
% of net charge-offs to retained loans | 3.14 | % | 3.95 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Loan delinquency | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current and less than 30 days past due | $ | 125,335 | $ | 125,309 | ||||||||||||||||||||||||||||||||||||||||||||||
and still accruing | ||||||||||||||||||||||||||||||||||||||||||||||||||
30–89 days past due and still accruing | 1,108 | 1,381 | ||||||||||||||||||||||||||||||||||||||||||||||||
90 or more days past due and still accruing | 1,022 | 1,302 | ||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans | — | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total retained credit card loans | $ | 127,465 | $ | 127,993 | ||||||||||||||||||||||||||||||||||||||||||||||
Loan delinquency ratios | ||||||||||||||||||||||||||||||||||||||||||||||||||
% of 30+ days past due to total retained loans | 1.67 | % | 2.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||
% of 90+ days past due to total retained loans | 0.8 | 1.02 | ||||||||||||||||||||||||||||||||||||||||||||||||
Credit card loans by geographic region | ||||||||||||||||||||||||||||||||||||||||||||||||||
California | $ | 17,194 | $ | 17,115 | ||||||||||||||||||||||||||||||||||||||||||||||
New York | 10,497 | 10,379 | ||||||||||||||||||||||||||||||||||||||||||||||||
Texas | 10,400 | 10,209 | ||||||||||||||||||||||||||||||||||||||||||||||||
Illinois | 7,412 | 7,399 | ||||||||||||||||||||||||||||||||||||||||||||||||
Florida | 7,178 | 7,231 | ||||||||||||||||||||||||||||||||||||||||||||||||
New Jersey | 5,554 | 5,503 | ||||||||||||||||||||||||||||||||||||||||||||||||
Ohio | 4,881 | 4,956 | ||||||||||||||||||||||||||||||||||||||||||||||||
Pennsylvania | 4,462 | 4,549 | ||||||||||||||||||||||||||||||||||||||||||||||||
Michigan | 3,618 | 3,745 | ||||||||||||||||||||||||||||||||||||||||||||||||
Virginia | 3,239 | 3,193 | ||||||||||||||||||||||||||||||||||||||||||||||||
All other | 53,030 | 53,714 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total retained credit card loans | $ | 127,465 | $ | 127,993 | ||||||||||||||||||||||||||||||||||||||||||||||
Percentage of portfolio based on carrying value with estimated refreshed FICO scores | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 85.1 | % | 84.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Less than 660 | 14.9 | 15.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Credit card impaired loans and loan modifications | ||||||||||||||||||||||||||||||||||||||||||||||||||
The table below sets forth information about the Firm’s impaired credit card loans. All of these loans are considered to be impaired as they have been modified in TDRs. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, (in millions) | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Impaired credit card loans with an allowance(a)(b) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Credit card loans with modified payment terms(c) | $ | 2,746 | $ | 4,189 | ||||||||||||||||||||||||||||||||||||||||||||||
Modified credit card loans that have reverted to pre-modification payment terms(d) | 369 | 573 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total impaired | $ | 3,115 | $ | 4,762 | ||||||||||||||||||||||||||||||||||||||||||||||
credit card loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses related to impaired | $ | 971 | $ | 1,681 | ||||||||||||||||||||||||||||||||||||||||||||||
credit card loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
(a) | The carrying value and the unpaid principal balance are the same for credit card impaired loans. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | There were no impaired loans without an allowance. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | Represents credit card loans outstanding to borrowers enrolled in a credit card modification program as of the date presented. | |||||||||||||||||||||||||||||||||||||||||||||||||
(d) | Represents credit card loans that were modified in TDRs but that have subsequently reverted back to the loans’ pre-modification payment terms. At December 31, 2013 and 2012, $226 million and $341 million, respectively, of loans have reverted back to the pre-modification payment terms of the loans due to noncompliance with the terms of the modified loans. The remaining $143 million and $232 million at December 31, 2013 and 2012, respectively, of these loans are to borrowers who have successfully completed a short-term modification program. The Firm continues to report these loans as TDRs since the borrowers’ credit lines remain closed. | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents average balances of impaired credit card loans and interest income recognized on those loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Average impaired credit card loans | $ | 3,882 | $ | 5,893 | $ | 8,499 | ||||||||||||||||||||||||||||||||||||||||||||
Interest income on | 198 | 308 | 463 | |||||||||||||||||||||||||||||||||||||||||||||||
impaired credit card loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loan modifications | ||||||||||||||||||||||||||||||||||||||||||||||||||
JPMorgan Chase may offer one of a number of loan modification programs to credit card borrowers who are experiencing financial difficulty. Most of the credit card loans have been modified under long-term programs for borrowers who are experiencing financial difficulties. Modifications under long-term programs involve placing the customer on a fixed payment plan, generally for 60 months. The Firm may also offer short-term programs for borrowers who may be in need of temporary relief; however, none are currently being offered. Modifications under all short- and long-term programs typically include reducing the interest rate on the credit card. Substantially all modifications are considered to be TDRs. | ||||||||||||||||||||||||||||||||||||||||||||||||||
If the cardholder does not comply with the modified payment terms, then the credit card loan agreement reverts back to its pre-modification payment terms. Assuming that the cardholder does not begin to perform in accordance with those payment terms, the loan continues to age and will ultimately be charged-off in accordance with the Firm’s standard charge-off policy. In addition, if a borrower successfully completes a short-term modification program, then the loan reverts back to its pre-modification payment terms. However, in most cases, the Firm does not reinstate the borrower’s line of credit. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information regarding the nature and extent of modifications of credit card loans for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | New enrollments | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
Short-term programs | $ | — | $ | 47 | $ | 167 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term programs | 1,180 | 1,607 | 2,523 | |||||||||||||||||||||||||||||||||||||||||||||||
Total new enrollments | $ | 1,180 | $ | 1,654 | $ | 2,690 | ||||||||||||||||||||||||||||||||||||||||||||
Financial effects of modifications and redefaults | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information about the financial effects of the concessions granted on credit card loans modified in TDRs and redefaults for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except | ||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average data) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans – before TDR | 15.37 | % | 15.67 | % | 16.05 | % | ||||||||||||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans – after TDR | 4.38 | 5.19 | 5.28 | |||||||||||||||||||||||||||||||||||||||||||||||
Loans that redefaulted within one year of modification(a) | $ | 167 | $ | 309 | $ | 687 | ||||||||||||||||||||||||||||||||||||||||||||
(a) | Represents loans modified in TDRs that experienced a payment default in the periods presented, and for which the payment default occurred within one year of the modification. The amounts presented represent the balance of such loans as of the end of the quarter in which they defaulted. | |||||||||||||||||||||||||||||||||||||||||||||||||
For credit card loans modified in TDRs, payment default is deemed to have occurred when the loans become two payments past due. A substantial portion of these loans is expected to be charged-off in accordance with the Firm’s standard charge-off policy. Based on historical experience, the estimated weighted-average default rate was expected to be 30.72%, 38.23% and 35.47% for credit card loans modified as of December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale-related [Member] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale loan portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale loans include loans made to a variety of customers, ranging from large corporate and institutional clients to high-net-worth individuals. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The primary credit quality indicator for wholesale loans is the risk rating assigned each loan. Risk ratings are used to identify the credit quality of loans and differentiate risk within the portfolio. Risk ratings on loans consider the probability of default (“PD”) and the loss given default (“LGD”). PD is the likelihood that a loan will default and not be repaid. The LGD is the estimated loss on the loan that would be realized upon the default of the borrower and takes into consideration collateral and structural support for each credit facility. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Management considers several factors to determine an appropriate risk rating, including the obligor’s debt capacity and financial flexibility, the level of the obligor’s earnings, the amount and sources for repayment, the level and nature of contingencies, management strength, and the industry and geography in which the obligor operates. The Firm’s definition of criticized aligns with the banking regulatory definition of criticized exposures, which consist of special mention, substandard and doubtful categories. Risk ratings generally represent ratings profiles similar to those defined by S&P and Moody’s. Investment-grade ratings range from “AAA/Aaa” to “BBB-/Baa3.” Noninvestment-grade ratings are classified as noncriticized (“BB+/Ba1 and B-/B3”) and criticized (“CCC+”/“Caa1 and below”), and the criticized portion is further subdivided into performing and nonaccrual loans, representing management’s assessment of the collectibility of principal and interest. Criticized loans have a higher probability of default than noncriticized loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Risk ratings are reviewed on a regular and ongoing basis by Credit Risk Management and are adjusted as necessary for updated information affecting the obligor’s ability to fulfill its obligations. | ||||||||||||||||||||||||||||||||||||||||||||||||||
As noted above, the risk rating of a loan considers the industry in which the obligor conducts its operations. As part of the overall credit risk management framework, the Firm focuses on the management and diversification of its industry and client exposures, with particular attention paid to industries with actual or potential credit concern. See Note 5 on page 219 in this Annual Report for further detail on industry concentrations. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The table below provides information by class of receivable for the retained loans in the Wholesale portfolio segment. | ||||||||||||||||||||||||||||||||||||||||||||||||||
As of or for the year ended December 31, | Commercial | Real estate | ||||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | and industrial | |||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
Loans by risk ratings | ||||||||||||||||||||||||||||||||||||||||||||||||||
Investment grade | $ | 57,690 | $ | 61,870 | $ | 52,195 | $ | 41,796 | ||||||||||||||||||||||||||||||||||||||||||
Noninvestment grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Noncriticized | 43,477 | 44,651 | 14,381 | 14,567 | ||||||||||||||||||||||||||||||||||||||||||||||
Criticized performing | 2,385 | 2,636 | 2,229 | 3,857 | ||||||||||||||||||||||||||||||||||||||||||||||
Criticized nonaccrual | 294 | 708 | 346 | 520 | ||||||||||||||||||||||||||||||||||||||||||||||
Total noninvestment grade | 46,156 | 47,995 | 16,956 | 18,944 | ||||||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 103,846 | $ | 109,865 | $ | 69,151 | $ | 60,740 | ||||||||||||||||||||||||||||||||||||||||||
% of total criticized to total retained loans | 2.58 | % | 3.04 | % | 3.72 | % | 7.21 | % | ||||||||||||||||||||||||||||||||||||||||||
% of nonaccrual loans to total retained loans | 0.28 | 0.64 | 0.5 | 0.86 | ||||||||||||||||||||||||||||||||||||||||||||||
Loans by geographic distribution(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total non-U.S. | $ | 34,440 | $ | 35,494 | $ | 1,369 | $ | 1,533 | ||||||||||||||||||||||||||||||||||||||||||
Total U.S. | 69,406 | 74,371 | 67,782 | 59,207 | ||||||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 103,846 | $ | 109,865 | $ | 69,151 | $ | 60,740 | ||||||||||||||||||||||||||||||||||||||||||
Net charge-offs/(recoveries) | $ | 99 | $ | (212 | ) | $ | 6 | $ | 54 | |||||||||||||||||||||||||||||||||||||||||
% of net charge-offs/(recoveries) to end-of-period retained loans | 0.1 | % | (0.19 | )% | 0.01 | % | 0.09 | % | ||||||||||||||||||||||||||||||||||||||||||
Loan delinquency(b) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current and less than 30 days past due and still accruing | $ | 103,357 | $ | 109,019 | $ | 68,627 | $ | 59,829 | ||||||||||||||||||||||||||||||||||||||||||
30–89 days past due and still accruing | 181 | 119 | 164 | 322 | ||||||||||||||||||||||||||||||||||||||||||||||
90 or more days past due and still accruing(c) | 14 | 19 | 14 | 69 | ||||||||||||||||||||||||||||||||||||||||||||||
Criticized nonaccrual | 294 | 708 | 346 | 520 | ||||||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 103,846 | $ | 109,865 | $ | 69,151 | $ | 60,740 | ||||||||||||||||||||||||||||||||||||||||||
(a) | The U.S. and non-U.S. distribution is determined based predominantly on the domicile of the borrower. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | The credit quality of wholesale loans is assessed primarily through ongoing review and monitoring of an obligor’s ability to meet contractual obligations rather than relying on the past due status, which is generally a lagging indicator of credit quality. For a discussion of more significant risk factors, see page 279 of this Note. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | Represents loans that are considered well-collateralized and therefore still accruing interest. | |||||||||||||||||||||||||||||||||||||||||||||||||
(d) | Other primarily includes loans to SPEs and loans to private banking clients. See Note 1 on pages 189–191 of this Annual Report for additional information on SPEs. | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents additional information on the real estate class of loans within the Wholesale portfolio segment for the periods indicated. The real estate class primarily consists of secured commercial loans mainly to borrowers for multi-family and commercial lessor properties. Multifamily lending specifically finances apartment buildings. Commercial lessors receive financing specifically for real estate leased to retail, office and industrial tenants. Commercial construction and development loans represent financing for the construction of apartments, office and professional buildings and malls. Other real estate loans include lodging, real estate investment trusts (“REITs”), single-family, homebuilders and other real estate. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Multifamily | Commercial lessors | ||||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
Real estate retained loans | $ | 44,389 | $ | 38,030 | $ | 15,949 | $ | 14,668 | ||||||||||||||||||||||||||||||||||||||||||
Criticized | 1,142 | 2,118 | 1,323 | 1,951 | ||||||||||||||||||||||||||||||||||||||||||||||
% of criticized to total real estate retained loans | 2.57 | % | 5.57 | % | 8.3 | % | 13.3 | % | ||||||||||||||||||||||||||||||||||||||||||
Criticized nonaccrual | $ | 191 | $ | 249 | $ | 143 | $ | 207 | ||||||||||||||||||||||||||||||||||||||||||
% of criticized nonaccrual to total real estate retained loans | 0.43 | % | 0.65 | % | 0.9 | % | 1.41 | % | ||||||||||||||||||||||||||||||||||||||||||
(table continued from previous page) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Financial | Government agencies | Other(d) | Total | |||||||||||||||||||||||||||||||||||||||||||||||
institutions | retained loans | |||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||
$ | 26,712 | $ | 22,064 | $ | 9,979 | $ | 9,183 | $ | 79,494 | $ | 79,533 | $ | 226,070 | $ | 214,446 | |||||||||||||||||||||||||||||||||||
6,674 | 13,760 | 440 | 356 | 10,992 | 9,914 | 75,964 | 83,248 | |||||||||||||||||||||||||||||||||||||||||||
272 | 395 | 42 | 5 | 480 | 201 | 5,408 | 7,094 | |||||||||||||||||||||||||||||||||||||||||||
25 | 8 | 1 | — | 155 | 198 | 821 | 1,434 | |||||||||||||||||||||||||||||||||||||||||||
6,971 | 14,163 | 483 | 361 | 11,627 | 10,313 | 82,193 | 91,776 | |||||||||||||||||||||||||||||||||||||||||||
$ | 33,683 | $ | 36,227 | $ | 10,462 | $ | 9,544 | $ | 91,121 | $ | 89,846 | $ | 308,263 | $ | 306,222 | |||||||||||||||||||||||||||||||||||
0.88 | % | 1.11 | % | 0.41 | % | 0.05 | % | 0.7 | % | 0.44 | % | 2.02 | % | 2.78 | % | |||||||||||||||||||||||||||||||||||
0.07 | 0.02 | 0.01 | — | 0.17 | 0.22 | 0.27 | 0.47 | |||||||||||||||||||||||||||||||||||||||||||
$ | 22,726 | $ | 26,326 | $ | 2,146 | $ | 1,582 | $ | 43,376 | $ | 39,421 | $ | 104,057 | $ | 104,356 | |||||||||||||||||||||||||||||||||||
10,957 | 9,901 | 8,316 | 7,962 | 47,745 | 50,425 | 204,206 | 201,866 | |||||||||||||||||||||||||||||||||||||||||||
$ | 33,683 | $ | 36,227 | $ | 10,462 | $ | 9,544 | $ | 91,121 | $ | 89,846 | $ | 308,263 | $ | 306,222 | |||||||||||||||||||||||||||||||||||
$ | (99 | ) | $ | (36 | ) | $ | 1 | $ | 2 | $ | 9 | $ | 14 | $ | 16 | $ | (178 | ) | ||||||||||||||||||||||||||||||||
(0.29 | )% | (0.10 | )% | 0.01 | % | 0.02 | % | 0.01 | % | 0.02 | % | 0.01 | % | (0.06 | )% | |||||||||||||||||||||||||||||||||||
$ | 33,426 | $ | 36,151 | $ | 10,421 | $ | 9,516 | $ | 89,717 | $ | 88,177 | $ | 305,548 | $ | 302,692 | |||||||||||||||||||||||||||||||||||
226 | 62 | 40 | 28 | 1,233 | 1,427 | 1,844 | 1,958 | |||||||||||||||||||||||||||||||||||||||||||
6 | 6 | — | — | 16 | 44 | 50 | 138 | |||||||||||||||||||||||||||||||||||||||||||
25 | 8 | 1 | — | 155 | 198 | 821 | 1,434 | |||||||||||||||||||||||||||||||||||||||||||
$ | 33,683 | $ | 36,227 | $ | 10,462 | $ | 9,544 | $ | 91,121 | $ | 89,846 | $ | 308,263 | $ | 306,222 | |||||||||||||||||||||||||||||||||||
(table continued from previous page) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial construction and development | Other | Total real estate loans | ||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||
$ | 3,674 | $ | 2,989 | $ | 5,139 | $ | 5,053 | $ | 69,151 | $ | 60,740 | |||||||||||||||||||||||||||||||||||||||
81 | 119 | 29 | 189 | 2,575 | 4,377 | |||||||||||||||||||||||||||||||||||||||||||||
2.2 | % | 3.98 | % | 0.56 | % | 3.74 | % | 3.72 | % | 7.21 | % | |||||||||||||||||||||||||||||||||||||||
$ | 3 | $ | 21 | $ | 9 | $ | 43 | $ | 346 | $ | 520 | |||||||||||||||||||||||||||||||||||||||
0.08 | % | 0.7 | % | 0.18 | % | 0.85 | % | 0.5 | % | 0.86 | % | |||||||||||||||||||||||||||||||||||||||
Wholesale impaired loans and loan modifications | ||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale impaired loans are comprised of loans that have been placed on nonaccrual status and/or that have been modified in a TDR. All impaired loans are evaluated for an asset-specific allowance as described in Note 15 on pages 284–287 of this Annual Report. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The table below sets forth information about the Firm’s wholesale impaired loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Commercial | Real estate | Financial | Government | Other | Total | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | and industrial | institutions | agencies | retained loans | ||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
With an allowance | $ | 236 | $ | 588 | $ | 258 | $ | 375 | $ | 17 | $ | 6 | $ | 1 | $ | — | $ | 85 | $ | 122 | $ | 597 | $ | 1,091 | ||||||||||||||||||||||||||
Without an allowance(a) | 58 | 173 | 109 | 133 | 8 | 2 | — | — | 73 | 76 | 248 | 384 | ||||||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 294 | $ | 761 | $ | 367 | $ | 508 | $ | 25 | $ | 8 | $ | 1 | $ | — | $ | 158 | $ | 198 | $ | 845 | $ | 1,475 | ||||||||||||||||||||||||||
Allowance for loan losses related to impaired loans | $ | 75 | $ | 205 | $ | 63 | $ | 82 | $ | 16 | $ | 2 | $ | — | $ | — | $ | 27 | $ | 30 | $ | 181 | $ | 319 | ||||||||||||||||||||||||||
Unpaid principal balance of impaired loans(b) | 448 | 957 | 454 | 626 | 24 | 22 | 1 | — | 241 | 318 | 1,168 | 1,923 | ||||||||||||||||||||||||||||||||||||||
(a) | When the discounted cash flows, collateral value or market price equals or exceeds the recorded investment in the loan, the loan does not require an allowance. This typically occurs when the impaired loans have been partially charged-off and/or there have been interest payments received and applied to the loan balance. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Represents the contractual amount of principal owed at December 31, 2013 and 2012. The unpaid principal balance differs from the impaired loan balances due to various factors, including charge-offs; interest payments received and applied to the carrying value; net deferred loan fees or costs; and unamortized discount or premiums on purchased loans. | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the Firm’s average impaired loans for the years ended 2013, 2012 and 2011. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, (in millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 412 | $ | 873 | $ | 1,309 | ||||||||||||||||||||||||||||||||||||||||||||
Real estate | 484 | 784 | 1,813 | |||||||||||||||||||||||||||||||||||||||||||||||
Financial institutions | 17 | 17 | 84 | |||||||||||||||||||||||||||||||||||||||||||||||
Government agencies | — | 9 | 20 | |||||||||||||||||||||||||||||||||||||||||||||||
Other | 211 | 277 | 634 | |||||||||||||||||||||||||||||||||||||||||||||||
Total(a) | $ | 1,124 | $ | 1,960 | $ | 3,860 | ||||||||||||||||||||||||||||||||||||||||||||
(a) | The related interest income on accruing impaired loans and interest income recognized on a cash basis were not material for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||||||||||||||||||||||||||||||||||||||
Loan modifications | ||||||||||||||||||||||||||||||||||||||||||||||||||
Certain loan modifications are considered to be TDRs as they provide various concessions to borrowers who are experiencing financial difficulty. All TDRs are reported as impaired loans in the tables above. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information about the Firm’s wholesale loans that have been modified in TDRs, including a reconciliation of the beginning and ending balances of such loans and information regarding the nature and extent of modifications during the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Years ended December 31, | Commercial and industrial | Real estate | Other(b) | Total | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||
Beginning balance of TDRs | $ | 575 | $ | 531 | $ | 212 | $ | 99 | $ | 176 | $ | 907 | $ | 22 | $ | 43 | $ | 24 | $ | 696 | $ | 750 | $ | 1,143 | ||||||||||||||||||||||||||
New TDRs | 60 | $ | 162 | $ | 665 | 43 | 43 | 113 | 50 | 73 | 32 | 153 | 278 | 810 | ||||||||||||||||||||||||||||||||||||
Increases to existing TDRs | 4 | 183 | 96 | — | — | 16 | — | — | — | 4 | 183 | 112 | ||||||||||||||||||||||||||||||||||||||
Charge-offs post-modification | (9 | ) | (27 | ) | (30 | ) | (3 | ) | (2 | ) | (146 | ) | — | (7 | ) | — | (12 | ) | (36 | ) | (176 | ) | ||||||||||||||||||||||||||||
Sales and other(a) | (553 | ) | (274 | ) | (412 | ) | (51 | ) | (118 | ) | (714 | ) | (39 | ) | (87 | ) | (13 | ) | (643 | ) | (479 | ) | (1,139 | ) | ||||||||||||||||||||||||||
Ending balance of TDRs | $ | 77 | $ | 575 | $ | 531 | $ | 88 | $ | 99 | $ | 176 | $ | 33 | $ | 22 | $ | 43 | $ | 198 | $ | 696 | $ | 750 | ||||||||||||||||||||||||||
TDRs on nonaccrual status | $ | 77 | $ | 522 | $ | 415 | $ | 61 | $ | 92 | $ | 128 | $ | 30 | $ | 22 | $ | 35 | $ | 168 | $ | 636 | $ | 578 | ||||||||||||||||||||||||||
Additional commitments to lend to borrowers whose loans have been modified in TDRs | 19 | 44 | 147 | — | — | — | — | 2 | — | 19 | 46 | 147 | ||||||||||||||||||||||||||||||||||||||
(a) | Sales and other are largely sales and paydowns, but also includes performing loans restructured at market rates that were removed from the reported TDR balance of $12 million, $44 million and $152 million during the years ended December 31, 2013, 2012 and 2011 respectively. Loans that have been removed continue to be evaluated along with other impaired loans to determine the asset-specific component of the allowance for loan losses (see page 260 of this Note). | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Includes loans to Financial institutions, Government agencies and Other. | |||||||||||||||||||||||||||||||||||||||||||||||||
Financial effects of modifications and redefaults | ||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale loans modified as TDRs are typically term or payment extensions and, to a lesser extent, deferrals of principal and/or interest on commercial and industrial and real estate loans. For the years ended December 31, 2013, 2012 and 2011, the average term extension granted on wholesale loans with term or payment extensions was 2.1 years, 1.1 years and 3.3 years, respectively. The weighted-average remaining term for all loans modified during these periods was 2.0 years, 3.6 years and 4.5 years respectively. Wholesale TDR loans that redefaulted within one year of the modification were $1 million, $56 million and $96 million during the years ended December 31, 2013, 2012 and 2011, respectively. A payment default is deemed to occur when the borrower has not made a loan payment by its scheduled due date after giving effect to any contractual grace period. |
Allowance_for_Credit_Losses
Allowance for Credit Losses | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Allowance for Credit Losses [Abstract] | ' | ||||||||||||||||||||||||||||
Allowance for credit losses | ' | ||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||
JPMorgan Chase’s allowance for loan losses covers the consumer, including credit card, portfolio segments (primarily scored); and wholesale (risk-rated) portfolio, and represents management’s estimate of probable credit losses inherent in the Firm’s loan portfolio. The allowance for loan losses includes an asset-specific component, a formula-based component and a component related to PCI loans, as described below. Management also estimates an allowance for wholesale and consumer lending-related commitments using methodologies similar to those used to estimate the allowance on the underlying loans. During 2013, the Firm did not make any significant changes to the methodologies or policies used to determine its allowance for credit losses; such policies are described in the following paragraphs. | |||||||||||||||||||||||||||||
The asset-specific component of the allowance relates to loans considered to be impaired, which includes loans that have been modified in TDRs as well as risk-rated loans that have been placed on nonaccrual status. To determine the asset-specific component of the allowance, larger loans are evaluated individually, while smaller loans are evaluated as pools using historical loss experience for the respective class of assets. Scored loans (i.e., consumer loans) are pooled by product type, while risk-rated loans (primarily wholesale loans) are segmented by risk rating. | |||||||||||||||||||||||||||||
The Firm generally measures the asset-specific allowance as the difference between the recorded investment in the loan and the present value of the cash flows expected to be collected, discounted at the loan’s original effective interest rate. Subsequent changes in impairment are reported as an adjustment to the provision for loan losses. In certain cases, the asset-specific allowance is determined using an observable market price, and the allowance is measured as the difference between the recorded investment in the loan and the loan’s fair value. Impaired collateral-dependent loans are charged down to the fair value of collateral less costs to sell and therefore may not be subject to an asset-specific reserve as for other impaired loans. See Note 14 on pages 258–283 of this Annual Report for more information about charge-offs and collateral-dependent loans. | |||||||||||||||||||||||||||||
The asset-specific component of the allowance for impaired loans that have been modified in TDRs incorporates the effects of foregone interest, if any, in the present value calculation and also incorporates the effect of the modification on the loan’s expected cash flows, which considers the potential for redefault. For residential real estate loans modified in TDRs, the Firm develops product-specific probability of default estimates, which are applied at a loan level to compute expected losses. In developing these probabilities of default, the Firm considers the relationship between the credit quality characteristics of the underlying loans and certain assumptions about home prices and unemployment, based upon industry-wide data. The Firm also considers its own historical loss experience to date based on actual redefaulted modified loans. For credit card loans modified in TDRs, expected losses incorporate projected redefaults based on the Firm’s historical experience by type of modification program. For wholesale loans modified in TDRs, expected losses incorporate redefaults based on management’s expectation of the borrower’s ability to repay under the modified terms. | |||||||||||||||||||||||||||||
The formula-based component is based on a statistical calculation to provide for incurred credit losses in performing risk-rated loans and all consumer loans, except for any loans restructured in TDRs and PCI loans. See Note 14 on pages 258–283 of this Annual Report for more information on PCI loans. | |||||||||||||||||||||||||||||
For scored loans, the statistical calculation is performed on pools of loans with similar risk characteristics (e.g., product type) and generally computed by applying loss factors to outstanding principal balances over an estimated loss emergence period. The loss emergence period represents the time period between the date at which the loss is estimated to have been incurred and the ultimate realization of that loss (through a charge-off). Estimated loss emergence periods may vary by product and may change over time; management applies judgment in estimating loss emergence periods, using available credit information and trends. | |||||||||||||||||||||||||||||
Loss factors are statistically derived and sensitive to changes in delinquency status, credit scores, collateral values and other risk factors. The Firm uses a number of different forecasting models to estimate both the PD and the loss severity, including delinquency roll rate models and credit loss severity models. In developing PD and loss severity assumptions, the Firm also considers known and anticipated changes in the economic environment, including changes in home prices, unemployment rates and other risk indicators. | |||||||||||||||||||||||||||||
A nationally recognized home price index measure is used to estimate both the PD and the loss severity on residential real estate loans at the metropolitan statistical areas (“MSA”) level. Loss severity estimates are regularly validated by comparison to actual losses recognized on defaulted loans, market-specific real estate appraisals and property sales activity. The economic impact of potential modifications of residential real estate loans is not included in the statistical calculation because of the uncertainty regarding the type and results of such modifications. | |||||||||||||||||||||||||||||
For risk-rated loans, the statistical calculation is the product of an estimated PD and an estimated LGD. These factors are differentiated by risk rating and expected maturity. In assessing the risk rating of a particular loan, among the factors considered are the obligor’s debt capacity and financial flexibility, the level of the obligor’s earnings, the amount and sources for repayment, the level and nature of contingencies, management strength, and the industry and geography in which the obligor operates. These factors are based on an evaluation of historical and current information, and involve subjective assessment and interpretation. Emphasizing one factor over another or considering additional factors could impact the risk rating assigned by the Firm to that loan. PD estimates are based on observable external through-the-cycle data, using credit-rating agency default statistics. LGD estimates are based on the Firm’s history of actual credit losses over more than one credit cycle. | |||||||||||||||||||||||||||||
Management applies judgment within an established framework to adjust the results of applying the statistical calculation described above. The determination of the appropriate adjustment is based on management’s view of loss events that have occurred but that are not yet reflected in the loss factors and that relate to current macroeconomic and political conditions, the quality of underwriting standards and other relevant internal and external factors affecting the credit quality of the portfolio. For the scored loan portfolios, adjustments to the statistical calculation are accomplished in part by analyzing the historical loss experience for each major product segment. Factors related to unemployment, home prices, borrower behavior and lien position, the estimated effects of the mortgage foreclosure-related settlement with federal and state officials and uncertainties regarding the ultimate success of loan modifications are incorporated into the calculation, as appropriate. For junior lien products, management considers the delinquency and/or modification status of any senior liens in determining the adjustment. In addition, for the risk-rated portfolios, any adjustments made to the statistical calculation also consider concentrated and deteriorating industries. | |||||||||||||||||||||||||||||
Management establishes an asset-specific allowance for lending-related commitments that are considered impaired and computes a formula-based allowance for performing consumer and wholesale lending-related commitments. These are computed using a methodology similar to that used for the wholesale loan portfolio, modified for expected maturities and probabilities of drawdown. | |||||||||||||||||||||||||||||
Determining the appropriateness of the allowance is complex and requires judgment by management about the effect of matters that are inherently uncertain. Subsequent evaluations of the loan portfolio, in light of the factors then prevailing, may result in significant changes in the allowances for loan losses and lending-related commitments in future periods. At least quarterly, the allowance for credit losses is reviewed by the Chief Risk Officer, the Chief Financial Officer and the Controller of the Firm and discussed with the Risk Policy and Audit Committees of the Board of Directors of the Firm. As of December 31, 2013, JPMorgan Chase deemed the allowance for credit losses to be appropriate (i.e., sufficient to absorb probable credit losses inherent in the portfolio). | |||||||||||||||||||||||||||||
Allowance for credit losses and loans and lending-related commitments by impairment methodology | |||||||||||||||||||||||||||||
The table below summarizes information about the allowance for loan losses, loans by impairment methodology, the allowance for lending-related commitments and lending-related commitments by impairment methodology. | |||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||
Year ended December 31, | Consumer, | Credit card | Wholesale | Total | |||||||||||||||||||||||||
(in millions) | excluding | ||||||||||||||||||||||||||||
credit card | |||||||||||||||||||||||||||||
Allowance for loan losses | |||||||||||||||||||||||||||||
Beginning balance at January 1, | $ | 12,292 | $ | 5,501 | $ | 4,143 | $ | 21,936 | |||||||||||||||||||||
Gross charge-offs | 2,754 | 4,472 | 241 | 7,467 | |||||||||||||||||||||||||
Gross recoveries | (847 | ) | (593 | ) | (225 | ) | (1,665 | ) | |||||||||||||||||||||
Net charge-offs/(recoveries) | 1,907 | 3,879 | 16 | 5,802 | |||||||||||||||||||||||||
Write-offs of PCI loans(a) | 53 | — | — | 53 | |||||||||||||||||||||||||
Provision for loan losses | (1,872 | ) | 2,179 | (119 | ) | 188 | |||||||||||||||||||||||
Other | (4 | ) | (6 | ) | 5 | (5 | ) | ||||||||||||||||||||||
Ending balance at December 31, | $ | 8,456 | $ | 3,795 | $ | 4,013 | $ | 16,264 | |||||||||||||||||||||
Allowance for loan losses by impairment methodology | |||||||||||||||||||||||||||||
Asset-specific(b) | $ | 601 | $ | 971 | (c) | $ | 181 | $ | 1,753 | ||||||||||||||||||||
Formula-based | 3,697 | 2,824 | 3,832 | 10,353 | |||||||||||||||||||||||||
PCI | 4,158 | — | — | 4,158 | |||||||||||||||||||||||||
Total allowance for loan losses | $ | 8,456 | $ | 3,795 | $ | 4,013 | $ | 16,264 | |||||||||||||||||||||
Loans by impairment methodology | |||||||||||||||||||||||||||||
Asset-specific | $ | 13,785 | $ | 3,115 | $ | 845 | $ | 17,745 | |||||||||||||||||||||
Formula-based | 221,609 | 124,350 | 307,412 | 653,371 | |||||||||||||||||||||||||
PCI | 53,055 | — | 6 | 53,061 | |||||||||||||||||||||||||
Total retained loans | $ | 288,449 | $ | 127,465 | $ | 308,263 | $ | 724,177 | |||||||||||||||||||||
Impaired collateral-dependent loans | |||||||||||||||||||||||||||||
Net charge-offs | $ | 235 | $ | — | $ | 37 | $ | 272 | |||||||||||||||||||||
Loans measured at fair value of collateral less cost to sell | 3,105 | — | 362 | 3,467 | |||||||||||||||||||||||||
Allowance for lending-related commitments | |||||||||||||||||||||||||||||
Beginning balance at January 1, | $ | 7 | $ | — | $ | 661 | $ | 668 | |||||||||||||||||||||
Provision for lending-related commitments | 1 | — | 36 | 37 | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
Ending balance at December 31, | $ | 8 | $ | — | $ | 697 | $ | 705 | |||||||||||||||||||||
Allowance for lending-related commitments by impairment methodology | |||||||||||||||||||||||||||||
Asset-specific | $ | — | $ | — | $ | 60 | $ | 60 | |||||||||||||||||||||
Formula-based | 8 | — | 637 | 645 | |||||||||||||||||||||||||
Total allowance for lending-related commitments | $ | 8 | $ | — | $ | 697 | $ | 705 | |||||||||||||||||||||
Lending-related commitments by impairment methodology | |||||||||||||||||||||||||||||
Asset-specific | $ | — | $ | — | $ | 206 | $ | 206 | |||||||||||||||||||||
Formula-based | 56,057 | 529,383 | 446,026 | 1,031,466 | |||||||||||||||||||||||||
Total lending-related commitments | $ | 56,057 | $ | 529,383 | $ | 446,232 | $ | 1,031,672 | |||||||||||||||||||||
(a) | Write-offs of PCI loans are recorded against the allowance for loan losses when actual losses for a pool exceed estimated losses that were recorded as purchase accounting adjustments at the time of acquisition. Any write-offs of PCI loans are recognized when the underlying loan is removed from a pool (e.g., upon liquidation). | ||||||||||||||||||||||||||||
(b) | Includes risk-rated loans that have been placed on nonaccrual status and loans that have been modified in a TDR. | ||||||||||||||||||||||||||||
(c) | The asset-specific credit card allowance for loan losses is related to loans that have been modified in a TDR; such allowance is calculated based on the loans’ original contractual interest rates and does not consider any incremental penalty rates. | ||||||||||||||||||||||||||||
(d) | Consumer, excluding credit card, charge-offs for the year ended December 31, 2012, included $747 million of charge-offs for Chapter 7 residential real estate loans and $53 million of charge-offs for Chapter 7 auto loans. | ||||||||||||||||||||||||||||
(table continued from previous page) | |||||||||||||||||||||||||||||
2012 | 2011 | ||||||||||||||||||||||||||||
Consumer, | Credit card | Wholesale | Total | Consumer, | Credit card | Wholesale | Total | ||||||||||||||||||||||
excluding | excluding | ||||||||||||||||||||||||||||
credit card | credit card | ||||||||||||||||||||||||||||
$ | 16,294 | $ | 6,999 | $ | 4,316 | $ | 27,609 | $ | 16,471 | $ | 11,034 | $ | 4,761 | $ | 32,266 | ||||||||||||||
4,805 | (d) | 5,755 | 346 | 10,906 | 5,419 | 8,168 | 916 | 14,503 | |||||||||||||||||||||
(508 | ) | (811 | ) | (524 | ) | (1,843 | ) | (547 | ) | (1,243 | ) | (476 | ) | (2,266 | ) | ||||||||||||||
4,297 | (d) | 4,944 | (178 | ) | 9,063 | 4,872 | 6,925 | 440 | 12,237 | ||||||||||||||||||||
— | — | — | — | — | — | — | — | ||||||||||||||||||||||
302 | 3,444 | (359 | ) | 3,387 | 4,670 | 2,925 | 17 | 7,612 | |||||||||||||||||||||
(7 | ) | 2 | 8 | 3 | 25 | (35 | ) | (22 | ) | (32 | ) | ||||||||||||||||||
$ | 12,292 | $ | 5,501 | $ | 4,143 | $ | 21,936 | $ | 16,294 | $ | 6,999 | $ | 4,316 | $ | 27,609 | ||||||||||||||
$ | 729 | $ | 1,681 | (c) | $ | 319 | $ | 2,729 | $ | 828 | $ | 2,727 | (c) | $ | 516 | $ | 4,071 | ||||||||||||
5,852 | 3,820 | 3,824 | 13,496 | 9,755 | 4,272 | 3,800 | 17,827 | ||||||||||||||||||||||
5,711 | — | — | 5,711 | 5,711 | — | — | 5,711 | ||||||||||||||||||||||
$ | 12,292 | $ | 5,501 | $ | 4,143 | $ | 21,936 | $ | 16,294 | $ | 6,999 | $ | 4,316 | $ | 27,609 | ||||||||||||||
$ | 13,938 | $ | 4,762 | $ | 1,475 | $ | 20,175 | $ | 9,892 | $ | 7,214 | $ | 2,549 | $ | 19,655 | ||||||||||||||
218,945 | 123,231 | 304,728 | 646,904 | 232,989 | 124,961 | 275,825 | 633,775 | ||||||||||||||||||||||
59,737 | — | 19 | 59,756 | 65,546 | — | 21 | 65,567 | ||||||||||||||||||||||
$ | 292,620 | $ | 127,993 | $ | 306,222 | $ | 726,835 | $ | 308,427 | $ | 132,175 | $ | 278,395 | $ | 718,997 | ||||||||||||||
$ | 973 | (c) | $ | — | $ | 77 | $ | 1,050 | $ | 110 | $ | — | $ | 128 | $ | 238 | |||||||||||||
3,272 | — | 445 | 3,717 | 830 | — | 833 | 1,663 | ||||||||||||||||||||||
$ | 7 | $ | — | $ | 666 | $ | 673 | $ | 6 | $ | — | $ | 711 | $ | 717 | ||||||||||||||
— | — | (2 | ) | (2 | ) | 2 | — | (40 | ) | (38 | ) | ||||||||||||||||||
— | — | (3 | ) | (3 | ) | (1 | ) | — | (5 | ) | (6 | ) | |||||||||||||||||
$ | 7 | $ | — | $ | 661 | $ | 668 | $ | 7 | $ | — | $ | 666 | $ | 673 | ||||||||||||||
$ | — | $ | — | $ | 97 | $ | 97 | $ | — | $ | — | $ | 150 | $ | 150 | ||||||||||||||
7 | — | 564 | 571 | 7 | — | 516 | 523 | ||||||||||||||||||||||
$ | 7 | $ | — | $ | 661 | $ | 668 | $ | 7 | $ | — | $ | 666 | $ | 673 | ||||||||||||||
$ | — | $ | — | $ | 355 | $ | 355 | $ | — | $ | — | $ | 865 | $ | 865 | ||||||||||||||
60,156 | 533,018 | 434,459 | 1,027,633 | 62,307 | 530,616 | 381,874 | 974,797 | ||||||||||||||||||||||
$ | 60,156 | $ | 533,018 | $ | 434,814 | $ | 1,027,988 | $ | 62,307 | $ | 530,616 | $ | 382,739 | $ | 975,662 | ||||||||||||||
Variable_Interest_Entities
Variable Interest Entities | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||
Variable Interest Entities [Abstract] | ' | ||||||||||||||||||||||
Variable Interest Entities | ' | ||||||||||||||||||||||
Variable interest entities | |||||||||||||||||||||||
For a further description of JPMorgan Chase’s accounting policies regarding consolidation of VIEs, see Note 1 on pages 189–191 of this Annual Report. | |||||||||||||||||||||||
The following table summarizes the most significant types of Firm-sponsored VIEs by business segment. The Firm considers a “sponsored” VIE to include any entity where: (1) JPMorgan Chase is the principal beneficiary of the structure; (2) the VIE is used by JPMorgan Chase to securitize Firm assets; (3) the VIE issues financial instruments with the JPMorgan Chase name; or (4) the entity is a JPMorgan Chase–administered asset-backed commercial paper conduit. | |||||||||||||||||||||||
Line-of-Business | Transaction Type | Activity | Annual Report | ||||||||||||||||||||
page references | |||||||||||||||||||||||
CCB | Credit card securitization trusts | Securitization of both originated and purchased credit card receivables | 289 | ||||||||||||||||||||
Other securitization trusts | Securitization of originated student loans | 290-292 | |||||||||||||||||||||
Mortgage securitization trusts | Securitization of originated and purchased residential mortgages | 290-292 | |||||||||||||||||||||
CIB | Mortgage and other securitization trusts | Securitization of both originated and purchased residential and commercial mortgages, automobile and student loans | 290-292 | ||||||||||||||||||||
Multi-seller conduits | Assist clients in accessing the financial markets in a cost-efficient manner and structures transactions to meet investor needs | 292-296 | |||||||||||||||||||||
Investor intermediation activities: | |||||||||||||||||||||||
Municipal bond vehicles | 293-294 | ||||||||||||||||||||||
Credit-related note and asset swap vehicles | 294-296 | ||||||||||||||||||||||
The Firm’s other business segments are also involved with VIEs, but to a lesser extent, as follows: | |||||||||||||||||||||||
• | Asset Management: Sponsors and manages certain funds that are deemed VIEs. As asset manager of the funds, AM earns a fee based on assets managed; the fee varies with each fund’s investment objective and is competitively priced. For fund entities that qualify as VIEs, AM’s interests are, in certain cases, considered to be significant variable interests that result in consolidation of the financial results of these entities. | ||||||||||||||||||||||
• | Commercial Banking: CB makes investments in and provides lending to community development entities that may meet the definition of a VIE. In addition, CB provides financing and lending related services to certain client-sponsored VIEs. In general, CB does not control the activities of these entities and does not consolidate these entities. | ||||||||||||||||||||||
• | Corporate/Private Equity: The Private Equity business, within Corporate/Private Equity, may be involved with entities that are deemed VIEs. However, the Firm’s private equity business is subject to specialized investment company accounting, which does not require the consolidation of investments, including VIEs. | ||||||||||||||||||||||
The Firm also invests in and provides financing and other services to VIEs sponsored by third parties, as described on page 296 of this Note. | |||||||||||||||||||||||
Significant Firm-sponsored variable interest entities | |||||||||||||||||||||||
Credit card securitizations | |||||||||||||||||||||||
The Card business securitizes originated and purchased credit card loans, primarily through the Chase Issuance Trust (the “Trust”). The Firm’s continuing involvement in credit card securitizations includes servicing the receivables, retaining an undivided seller’s interest in the receivables, retaining certain senior and subordinated securities and maintaining escrow accounts. | |||||||||||||||||||||||
The Firm is considered to be the primary beneficiary of these Firm-sponsored credit card securitization trusts based on the Firm’s ability to direct the activities of these VIEs through its servicing responsibilities and other duties, including making decisions as to the receivables that are transferred into those trusts and as to any related modifications and workouts. Additionally, the nature and extent of the Firm’s other continuing involvement with the trusts, as indicated above, obligates the Firm to absorb losses and gives the Firm the right to receive certain benefits from these VIEs that could potentially be significant. | |||||||||||||||||||||||
The underlying securitized credit card receivables and other assets of the securitization trusts are available only for payment of the beneficial interests issued by the securitization trusts; they are not available to pay the Firm’s other obligations or the claims of the Firm’s other creditors. | |||||||||||||||||||||||
The agreements with the credit card securitization trusts require the Firm to maintain a minimum undivided interest in the credit card trusts (which is generally 4%). As of December 31, 2013 and 2012, the Firm held undivided interests in Firm-sponsored credit card securitization trusts of $14.3 billion and $15.8 billion, respectively. The Firm maintained an average undivided interest in principal receivables owned by those trusts of approximately 30% and 28% for the years ended December 31, 2013 and 2012, respectively. The Firm also retained $130 million and $362 million of senior securities and $5.5 billion and $4.6 billion of subordinated securities in certain of its credit card securitization trusts as of December 31, 2013 and 2012, respectively. The Firm’s undivided interests in the credit card trusts and securities retained are eliminated in consolidation. | |||||||||||||||||||||||
Firm-sponsored mortgage and other securitization trusts | |||||||||||||||||||||||
The Firm securitizes (or has securitized) originated and purchased residential mortgages, commercial mortgages and other consumer loans (including automobile and student loans) primarily in its CIB and CCB businesses. Depending on the particular transaction, as well as the respective business involved, the Firm may act as the servicer of the loans and/or retain certain beneficial interests in the securitization trusts. | |||||||||||||||||||||||
The following table presents the total unpaid principal amount of assets held in Firm-sponsored private-label securitization entities, including those in which the Firm has continuing involvement, and those that are consolidated by the Firm. Continuing involvement includes servicing the loans, holding senior interests or subordinated interests, recourse or guarantee arrangements, and derivative transactions. In certain instances, the Firm’s only continuing involvement is servicing the loans. See Securitization activity on page 297 of this Note for further information regarding the Firm’s cash flows with and interests retained in nonconsolidated VIEs, and pages 297–298 of this Note for information on the Firm’s loan sales to U.S. government agencies. | |||||||||||||||||||||||
Principal amount outstanding | JPMorgan Chase interest in securitized assets in nonconsolidated VIEs(d)(e)(f) | ||||||||||||||||||||||
December 31, 2013 (a) (in billions) | Total assets held by securitization VIEs | Assets held in consolidated securitization VIEs | Assets held in nonconsolidated securitization VIEs with continuing involvement | Trading assets | AFS securities | Total interests held by JPMorgan Chase | |||||||||||||||||
Securitization-related | |||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||
Prime/Alt-A and Option ARMs | $ | 109.2 | $ | 3.2 | $ | 90.4 | $ | 0.5 | $ | 0.3 | $ | 0.8 | |||||||||||
Subprime | 32.1 | 1.3 | 28 | 0.1 | — | 0.1 | |||||||||||||||||
Commercial and other(b) | 130.4 | — | 98 | 0.5 | 3.5 | 4 | |||||||||||||||||
Total | $ | 271.7 | $ | 4.5 | $ | 216.4 | $ | 1.1 | $ | 3.8 | $ | 4.9 | |||||||||||
Principal amount outstanding | JPMorgan Chase interest in securitized assets in nonconsolidated VIEs(d)(e)(f) | ||||||||||||||||||||||
December 31, 2012(a) (in billions) | Total assets held by securitization VIEs | Assets held in consolidated securitization VIEs | Assets held in nonconsolidated securitization VIEs with continuing involvement | Trading assets | AFS securities | Total interests held by JPMorgan Chase | |||||||||||||||||
Securitization-related | |||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||
Prime/Alt-A and Option ARMs(c) | $ | 133.5 | $ | 2.7 | $ | 106.7 | $ | 0.3 | $ | — | $ | 0.3 | |||||||||||
Subprime | 34.5 | 1.3 | 31.3 | 0.1 | — | 0.1 | |||||||||||||||||
Commercial and other(b) | 127.8 | — | 81.8 | 1.5 | 2.8 | 4.3 | |||||||||||||||||
Total | $ | 295.8 | $ | 4 | $ | 219.8 | $ | 1.9 | $ | 2.8 | $ | 4.7 | |||||||||||
(a) | Excludes U.S. government agency securitizations. See pages 297–298 of this Note for information on the Firm’s loan sales to U.S. government agencies. | ||||||||||||||||||||||
(b) | Consists of securities backed by commercial loans (predominantly real estate) and non-mortgage-related consumer receivables purchased from third parties. The Firm generally does not retain a residual interest in its sponsored commercial mortgage securitization transactions. | ||||||||||||||||||||||
(c) | The prior period has been reclassified to conform with the current presentation methodology. | ||||||||||||||||||||||
(d) | The table above excludes the following: retained servicing (see Note 17 on pages 299–304 of this Annual Report for a discussion of MSRs); securities retained from loans sales to U.S. government agencies; interest rate and foreign exchange derivatives primarily used to manage interest rate and foreign exchange risks of securitization entities (See Note 6 on pages 220–233 of this Annual Report for further information on derivatives); senior and subordinated securities of $151 million and $30 million, respectively, at December 31, 2013, and $131 million and $45 million, respectively, at December 31, 2012, which the Firm purchased in connection with CIB’s secondary market-making activities. | ||||||||||||||||||||||
(e) | Includes interests held in re-securitization transactions. | ||||||||||||||||||||||
(f) | As of December 31, 2013 and 2012, 69% and 74%, respectively, of the Firm’s retained securitization interests, which are carried at fair value, were risk-rated “A” or better, on an S&P-equivalent basis. The retained interests in prime residential mortgages consisted of $551 million and $170 million of investment-grade and $260 million and $171 million of noninvestment-grade retained interests at December 31, 2013 and 2012, respectively. The retained interests in commercial and other securitizations trusts consisted of $3.9 billion and $4.1 billion of investment-grade and $80 million and $164 million of noninvestment-grade retained interests at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||
The Firm securitizes residential mortgage loans originated by CCB, as well as residential mortgage loans purchased from third parties by either CCB or CIB. CCB generally retains servicing for all residential mortgage loans originated or purchased by CCB, and for certain mortgage loans purchased by CIB. For securitizations serviced by CCB, the Firm has the power to direct the significant activities of the VIE because it is responsible for decisions related to loan modifications and workouts. CCB may also retain an interest upon securitization. | |||||||||||||||||||||||
In addition, CIB engages in underwriting and trading activities involving securities issued by Firm-sponsored securitization trusts. As a result, CIB at times retains senior and/or subordinated interests (including residual interests) in residential mortgage securitizations upon securitization, and/or reacquires positions in the secondary market in the normal course of business. In certain instances, as a result of the positions retained or reacquired by CIB or held by CCB, when considered together with the servicing arrangements entered into by CCB, the Firm is deemed to be the primary beneficiary of certain securitization trusts. See the table on page 296 of this Note for more information on consolidated residential mortgage securitizations. | |||||||||||||||||||||||
The Firm does not consolidate a residential mortgage securitization (Firm-sponsored or third-party-sponsored) when it is not the servicer (and therefore does not have the power to direct the most significant activities of the trust) or does not hold a beneficial interest in the trust that could potentially be significant to the trust. At December 31, 2013 and 2012, the Firm did not consolidate the assets of certain Firm-sponsored residential mortgage securitization VIEs, in which the Firm had continuing involvement, primarily due to the fact that the Firm did not hold an interest in these trusts that could potentially be significant to the trusts. See the table on page 296 of this Note for more information on the consolidated residential mortgage securitizations, and the table on the previous page of this Note for further information on interests held in nonconsolidated residential mortgage securitizations. | |||||||||||||||||||||||
Commercial mortgages and other consumer securitizations | |||||||||||||||||||||||
CIB originates and securitizes commercial mortgage loans, and engages in underwriting and trading activities involving the securities issued by securitization trusts. CIB may retain unsold senior and/or subordinated interests in commercial mortgage securitizations at the time of securitization but, generally, the Firm does not service commercial loan securitizations. For commercial mortgage securitizations the power to direct the significant activities of the VIE generally is held by the servicer or investors in a specified class of securities (“controlling class”). See the table on page 296 of this Note for more information on the consolidated commercial mortgage securitizations, and the table on the previous page of this Note for further information on interests held in nonconsolidated securitizations. | |||||||||||||||||||||||
The Firm also securitizes student loans. The Firm retains servicing responsibilities for all originated and certain purchased student loans and has the power to direct the activities of these VIEs through these servicing responsibilities. See the table on page 296 of this Note for more information on the consolidated student loan securitizations, and the table on the previous page of this Note for further information on interests held in nonconsolidated securitizations. | |||||||||||||||||||||||
Re-securitizations | |||||||||||||||||||||||
The Firm engages in certain re-securitization transactions in which debt securities are transferred to a VIE in exchange for new beneficial interests. These transfers occur in connection with both agency (Fannie Mae, Freddie Mac and Ginnie Mae) and nonagency (private-label) sponsored VIEs, which may be backed by either residential or commercial mortgages. The Firm’s consolidation analysis is largely dependent on the Firm’s role and interest in the re-securitization trusts. During the years ended December 31, 2013, 2012 and 2011, the Firm transferred $25.3 billion, $10.0 billion and $24.9 billion, respectively, of securities to agency VIEs, and $55 million, $286 million and $381 million, respectively, of securities to private-label VIEs. | |||||||||||||||||||||||
Most re-securitizations with which the Firm is involved are client-driven transactions in which a specific client or group of clients are seeking a specific return or risk profile. For these transactions, the Firm has concluded that the decision-making power of the entity is shared between the Firm and its client(s), considering the joint effort and decisions in establishing the re-securitization trust and its assets, as well as the significant economic interest the client holds in the re-securitization trust; therefore the Firm does not consolidate the re-securitization VIE. | |||||||||||||||||||||||
In more limited circumstances, the Firm creates a re-securitization trust independently and not in conjunction with specific clients. In these circumstances, the Firm is deemed to have the unilateral ability to direct the most significant activities of the re-securitization trust because of the decisions made during the establishment and design of the trust; therefore, the Firm consolidates the re-securitization VIE if the Firm holds an interest that could potentially be significant. | |||||||||||||||||||||||
Additionally, the Firm may invest in beneficial interests of third-party securitizations and generally purchases these interests in the secondary market. In these circumstances, the Firm does not have the unilateral ability to direct the most significant activities of the re-securitization trust, either because it wasn’t involved in the initial design of the trust, or the Firm is involved with an independent third party sponsor and demonstrates shared power over the creation of the trust; therefore, the Firm does not consolidate the re-securitization VIE. | |||||||||||||||||||||||
As of December 31, 2013 and 2012, the Firm did not consolidate any agency re-securitizations. As of December 31, 2013 and 2012, the Firm consolidated $86 million and $76 million, respectively, of assets, and $23 million and $5 million, respectively, of liabilities of private-label re-securitizations. See the table on page 296 of this Note for more information on the consolidated re-securitization transactions. | |||||||||||||||||||||||
As of December 31, 2013 and 2012, total assets (including the notional amount of interest-only securities) of nonconsolidated Firm-sponsored private-label re-securitization entities in which the Firm has continuing involvement were $2.8 billion and $4.6 billion, respectively. At December 31, 2013 and 2012, the Firm held approximately $1.3 billion and $2.0 billion, respectively, of interests in nonconsolidated agency re-securitization entities, and $6 million and $61 million, respectively, of senior and subordinated interests in nonconsolidated private-label re-securitization entities. See the table on page 290 of this Note for further information on interests held in nonconsolidated securitizations. | |||||||||||||||||||||||
Multi-seller conduits | |||||||||||||||||||||||
Multi-seller conduit entities are separate bankruptcy remote entities that purchase interests in, and make loans secured by, pools of receivables and other financial assets pursuant to agreements with customers of the Firm. The conduits fund their purchases and loans through the issuance of highly rated commercial paper. The primary source of repayment of the commercial paper is the cash flows from the pools of assets. In most instances, the assets are structured with deal-specific credit enhancements provided to the conduits by the customers (i.e., sellers) or other third parties. Deal-specific credit enhancements are generally structured to cover a multiple of historical losses expected on the pool of assets, and are typically in the form of overcollateralization provided by the seller. The deal-specific credit enhancements mitigate the Firm’s potential losses on its agreements with the conduits. | |||||||||||||||||||||||
To ensure timely repayment of the commercial paper, and to provide the conduits with funding to purchase interests in or make loans secured by pools of receivables in the event that the conduits do not obtain funding in the commercial paper market, each asset pool financed by the conduits has a minimum 100% deal-specific liquidity facility associated with it provided by JPMorgan Chase Bank, N.A. JPMorgan Chase Bank, N.A. also provides the multi-seller conduit vehicles with uncommitted program-wide liquidity facilities and program-wide credit enhancement in the form of standby letters of credit. The amount of program-wide credit enhancement required is based upon commercial paper issuance and approximates 10% of the outstanding balance. | |||||||||||||||||||||||
The Firm consolidates its Firm-administered multi-seller conduits, as the Firm has both the power to direct the significant activities of the conduits and a potentially significant economic interest in the conduits. As administrative agent and in its role in structuring transactions, the Firm makes decisions regarding asset types and credit quality, and manages the commercial paper funding needs of the conduits. The Firm’s interests that could potentially be significant to the VIEs include the fees received as administrative agent and liquidity and program-wide credit enhancement provider, as well as the potential exposure created by the liquidity and credit enhancement facilities provided to the conduits. See page 296 of this Note for further information on consolidated VIE assets and liabilities. | |||||||||||||||||||||||
In the normal course of business, JPMorgan Chase makes markets in and invests in commercial paper, including commercial paper issued by the Firm-administered multi-seller conduits. The Firm held $4.1 billion and $8.3 billion of the commercial paper issued by the Firm-administered multi-seller conduits at December 31, 2013 and 2012, respectively. The Firm’s investments were not driven by market illiquidity and the Firm is not obligated under any agreement to purchase the commercial paper issued by the Firm-administered multi-seller conduits. | |||||||||||||||||||||||
Deal-specific liquidity facilities, program-wide liquidity and credit enhancement provided by the Firm have been eliminated in consolidation. The Firm or the Firm-administered multi-seller conduits provide lending-related commitments to certain clients of the Firm-administered multi-seller conduits. The unfunded portion of these commitments was $9.1 billion and $10.8 billion at December 31, 2013 and 2012, respectively, and are reported as off-balance sheet lending-related commitments. For more information on off-balance sheet lending-related commitments, see Note 29 on pages 318–324 of this Annual Report. | |||||||||||||||||||||||
VIEs associated with investor intermediation activities | |||||||||||||||||||||||
As a financial intermediary, the Firm creates certain types of VIEs and also structures transactions with these VIEs, typically using derivatives, to meet investor needs. The Firm may also provide liquidity and other support. The risks inherent in the derivative instruments or liquidity commitments are managed similarly to other credit, market or liquidity risks to which the Firm is exposed. The principal types of VIEs for which the Firm is engaged in on behalf of clients are municipal bond vehicles, credit-related note vehicles and asset swap vehicles. | |||||||||||||||||||||||
Municipal bond vehicles | |||||||||||||||||||||||
The Firm has created a series of trusts that provide short-term investors with qualifying tax-exempt investments, and that allow investors in tax-exempt securities to finance their investments at short-term tax-exempt rates. In a typical transaction, the vehicle purchases fixed-rate longer-term highly rated municipal bonds and funds the purchase by issuing two types of securities: (1) puttable floating-rate certificates and (2) inverse floating-rate residual interests (“residual interests”). The maturity of each of the puttable floating-rate certificates and the residual interests is equal to the life of the vehicle, while the maturity of the underlying municipal bonds is typically longer. Holders of the puttable floating-rate certificates may “put,” or tender, the certificates if the remarketing agent cannot successfully remarket the floating-rate certificates to another investor. A liquidity facility conditionally obligates the liquidity provider to fund the purchase of the tendered floating-rate certificates. Upon termination of the vehicle, proceeds from the sale of the underlying municipal bonds would first repay any funded liquidity facility or outstanding floating-rate certificates and the remaining amount, if any, would be paid to the residual interests. If the proceeds from the sale of the underlying municipal bonds are not sufficient to repay the liquidity facility, in certain transactions the liquidity provider has recourse to the residual interest holders for reimbursement. Certain residual interest holders may be required to post collateral with the Firm, as liquidity provider, to support such reimbursement obligations should the market value of the municipal bonds decline. | |||||||||||||||||||||||
JPMorgan Chase Bank, N.A. often serves as the sole liquidity provider, and J.P. Morgan Securities LLC serves as remarketing agent, of the puttable floating-rate certificates. The liquidity provider’s obligation to perform is conditional and is limited by certain termination events, which include bankruptcy or failure to pay by the municipal bond issuer or credit enhancement provider, an event of taxability on the municipal bonds or the immediate downgrade of the municipal bond to below investment grade. In addition, the Firm’s exposure as liquidity provider is further limited by the high credit quality of the underlying municipal bonds, the excess collateralization in the vehicle, or in certain transactions, the reimbursement agreements with the residual interest holders. | |||||||||||||||||||||||
The long-term credit ratings of the puttable floating rate certificates are directly related to the credit ratings of the underlying municipal bonds, the credit rating of any insurer of the underlying municipal bond, and the Firm’s short-term credit rating as liquidity provider. A downgrade in any of these ratings would affect the rating of the puttable floating-rate certificates and could cause demand for these certificates by investors to decline or disappear. However, a downgrade of JPMorgan Chase Bank, N.A.’s short-term rating does not affect the Firm’s obligation under the liquidity facility. | |||||||||||||||||||||||
As remarketing agent, the Firm may hold puttable floating-rate certificates of the municipal bond vehicles. At December 31, 2013 and 2012, the Firm held $262 million and $252 million, respectively, of these certificates on its Consolidated Balance Sheets. The largest amount held by the Firm at any time during 2013 was $470 million, or 4.8%, of the municipal bond vehicles’ aggregate outstanding puttable floating-rate certificates. The Firm did not have and continues not to have any intent to protect any residual interest holder from potential losses on any of the municipal bond holdings. | |||||||||||||||||||||||
The Firm consolidates municipal bond vehicles if it owns the residual interest. The residual interest generally allows the owner to make decisions that significantly impact the economic performance of the municipal bond vehicle, primarily by directing the sale of the municipal bonds owned by the vehicle. In addition, the residual interest owners have the right to receive benefits and bear losses that could potentially be significant to the municipal bond vehicle. The Firm does not consolidate municipal bond vehicles if it does not own the residual interests, since the Firm does not have the power to make decisions that significantly impact the economic performance of the municipal bond vehicle. See page 296 of this Note for further information on consolidated municipal bond vehicles. | |||||||||||||||||||||||
The Firm’s exposure to nonconsolidated municipal bond VIEs at December 31, 2013 and 2012, including the ratings profile of the VIEs’ assets, was as follows. | |||||||||||||||||||||||
December 31, | Fair value of assets held by VIEs | Liquidity facilities | Excess/(deficit)(a) | Maximum exposure | |||||||||||||||||||
(in billions) | |||||||||||||||||||||||
Nonconsolidated municipal bond vehicles | |||||||||||||||||||||||
2013 | $ | 11.8 | $ | 6.9 | $ | 4.9 | $ | 6.9 | |||||||||||||||
2012 | 14.2 | 8 | 6.2 | 8 | |||||||||||||||||||
Ratings profile of VIE assets(b) | Fair value of assets held by VIEs | Wt. avg. expected life of assets (years) | |||||||||||||||||||||
Investment-grade | Noninvestment- grade | ||||||||||||||||||||||
December 31, | AAA to AAA- | AA+ to AA- | A+ to A- | BBB+ to BBB- | BB+ and below | ||||||||||||||||||
(in billions, except where otherwise noted) | |||||||||||||||||||||||
2013 | $ | 2.7 | $ | 8.9 | $ | 0.2 | $ | — | $ | — | $ | 11.8 | 7.2 | ||||||||||
2012 | 3.1 | 11 | 0.1 | — | — | 14.2 | 5.9 | ||||||||||||||||
(a) | Represents the excess/(deficit) of the fair values of municipal bond assets available to repay the liquidity facilities, if drawn. | ||||||||||||||||||||||
(b) | The ratings scale is presented on an S&P-equivalent basis. The prior period has been reclassified to conform with the current presentation. | ||||||||||||||||||||||
Credit-related note and asset swap vehicles | |||||||||||||||||||||||
Credit-related note vehicles | |||||||||||||||||||||||
The Firm structures transactions with credit-related note vehicles in which the VIE purchases highly rated assets, such as asset-backed securities, and enters into a credit derivative contract with the Firm to obtain exposure to a referenced credit which the VIE otherwise does not hold. The VIE then issues credit-linked notes (“CLNs”) with maturities predominantly ranging from one to ten years in order to transfer the risk of the referenced credit to the VIE’s investors. Clients and investors often prefer using a CLN vehicle since the CLNs issued by the VIE generally carry a higher credit rating than such notes would if issued directly by JPMorgan Chase. As a derivative counterparty in a credit-related note structure, the Firm has a senior claim on the collateral of the VIE and reports such derivatives on its Consolidated Balance Sheets at fair value. The collateral purchased by such VIEs is predominantly investment grade. The Firm divides its credit-related note structures broadly into two types: static and managed. | |||||||||||||||||||||||
In a static credit-related note structure, the CLNs and associated credit derivative contract either reference a single credit (e.g., a multi-national corporation), or all or part of a fixed portfolio of credits. In a managed credit-related note structure, the CLNs and associated credit | |||||||||||||||||||||||
derivative generally reference all or part of an actively managed portfolio of credits. An agreement exists between a portfolio manager and the VIE that gives the portfolio manager the ability to substitute each referenced credit in the portfolio for an alternative credit. The Firm does not act as portfolio manager; its involvement with the VIE is generally limited to being a derivative counterparty. As a net buyer of credit protection, in both static and managed credit-related note structures, the Firm pays a premium to the VIE in return for the receipt of a payment (up to the notional of the derivative) if one or more of the credits within the portfolio defaults, or if the losses resulting from the default of reference credits exceed specified levels. The Firm does not provide any additional contractual financial support to the VIE. In addition, the Firm has not historically provided any financial support to the CLN vehicles over and above its contractual obligations. Since each CLN is established to the specifications of the investors, the investors have the power over the activities of that VIE that most significantly affect the performance of the CLN. Furthermore, the Firm does not generally have a variable interest that could potentially be significant. Accordingly, the Firm does not generally consolidate these credit-related note entities. As a derivative counterparty, the Firm has a senior claim on the collateral of the VIE and reports such derivatives on its Consolidated Balance Sheets at fair value. Substantially all of the assets purchased by such VIEs are investment-grade. | |||||||||||||||||||||||
Asset swap vehicles | |||||||||||||||||||||||
The Firm structures and executes transactions with asset swap vehicles on behalf of investors. In such transactions, the VIE purchases a specific asset or assets and then enters into a derivative with the Firm in order to tailor the interest rate or foreign exchange currency risk, or both, according to investors’ requirements. Generally, the assets are held by the VIE to maturity, and the tenor of the derivatives would match the maturity of the assets. Investors typically invest in the notes issued by such VIEs in order to obtain exposure to the credit risk of the specific assets, as well as exposure to foreign exchange and interest rate risk that is tailored to their specific needs. The derivative transaction between the Firm and the VIE may include currency swaps to hedge assets held by the VIE denominated in foreign currency into the investors’ local currency or interest rate swaps to hedge the interest rate risk of assets held by the VIE; to add additional interest rate exposure into the VIE in order to increase the return on the issued notes; or to convert an interest-bearing asset into a zero-coupon bond. | |||||||||||||||||||||||
The Firm’s exposure to asset swap vehicles is generally limited to its rights and obligations under the interest rate and/or foreign exchange derivative contracts. The Firm historically has not provided any financial support to the asset swap vehicles over and above its contractual obligations. The Firm does not generally consolidate these asset swap vehicles, since the Firm does not have the power to direct the significant activities of these entities and does not have a variable interest that could potentially be significant. As a derivative counterparty, the Firm has a senior claim on the collateral of the VIE and reports such derivatives on its Consolidated Balance Sheets at fair value. Substantially all of the assets purchased by such VIEs are investment-grade. | |||||||||||||||||||||||
Exposure to nonconsolidated credit-related note and asset swap VIEs at December 31, 2013 and 2012, was as follows. | |||||||||||||||||||||||
31-Dec-13 | Net derivative receivables | Total exposure | Par value of collateral held by VIEs(a) | ||||||||||||||||||||
(in billions) | |||||||||||||||||||||||
Credit-related notes | |||||||||||||||||||||||
Static structure | $ | — | $ | — | $ | 4.8 | |||||||||||||||||
Managed structure | — | — | 3.9 | ||||||||||||||||||||
Total credit-related notes | — | — | 8.7 | ||||||||||||||||||||
Asset swaps | 0.4 | 0.4 | 7.7 | ||||||||||||||||||||
Total | $ | 0.4 | $ | 0.4 | $ | 16.4 | |||||||||||||||||
31-Dec-12 | Net derivative receivables | Total exposure | Par value of collateral held by VIEs(a) | ||||||||||||||||||||
(in billions) | |||||||||||||||||||||||
Credit-related notes | |||||||||||||||||||||||
Static structure | $ | 0.5 | $ | 0.5 | $ | 7.3 | |||||||||||||||||
Managed structure | 0.6 | 0.6 | 5.6 | ||||||||||||||||||||
Total credit-related notes | 1.1 | 1.1 | 12.9 | ||||||||||||||||||||
Asset swaps | 0.4 | 0.4 | 7.9 | ||||||||||||||||||||
Total | $ | 1.5 | $ | 1.5 | $ | 20.8 | |||||||||||||||||
(a) | The Firm’s maximum exposure arises through the derivatives executed with the VIEs; the exposure varies over time with changes in the fair value of the derivatives. The Firm relies on the collateral held by the VIEs to pay any amounts due under the derivatives; the vehicles are structured at inception so that the par value of the collateral is expected to be sufficient to pay amounts due under the derivative contracts. | ||||||||||||||||||||||
The Firm consolidated Firm-sponsored and third-party credit-related note vehicles with collateral fair values of $311 million and $483 million, at December 31, 2013 and 2012, respectively. These consolidated VIEs included some that were structured by the Firm where the Firm provides the credit derivative, and some that have been structured by third parties where the Firm is not the credit derivative provider. The Firm consolidated these vehicles, because it held positions in these entities that provided the Firm with control of certain vehicles. The Firm did not consolidate any asset swap vehicles at December 31, 2013 and 2012. | |||||||||||||||||||||||
VIEs sponsored by third parties | |||||||||||||||||||||||
VIE used in FRBNY transaction | |||||||||||||||||||||||
In conjunction with the Bear Stearns merger in June 2008, the Federal Reserve Bank of New York (“FRBNY”) took control, through an LLC formed for this purpose, of a portfolio of $30.0 billion in assets, based on the value of the portfolio as of March 14, 2008. The assets of the LLC were funded by a $28.85 billion term loan from the FRBNY and a $1.15 billion subordinated loan from JPMorgan Chase. The JPMorgan Chase loan was subordinated to the FRBNY loan and bore the first $1.15 billion of any losses of the portfolio. Any remaining assets in the portfolio after repayment of the FRBNY loan, repayment of the JPMorgan Chase loan and the expense of the LLC was for the account of the FRBNY. The extent to which the FRBNY and JPMorgan Chase loans were repaid depended on the value of the assets in the portfolio and the liquidation strategy directed by the FRBNY. The Firm did not consolidate the LLC, as it did not have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance. In June 2012, the FRBNY loan was repaid in full and in November 2012, the JPMorgan Chase loan was repaid in full. During the year ended December 31, 2012, JPMorgan Chase recognized a pretax gain of $665 million reflecting the recovery on the $1.15 billion subordinated loan plus contractual interest. | |||||||||||||||||||||||
Consolidated VIE assets and liabilities | |||||||||||||||||||||||
The following table presents information on assets and liabilities related to VIEs consolidated by the Firm as of December 31, 2013 and 2012. | |||||||||||||||||||||||
Assets | Liabilities | ||||||||||||||||||||||
December 31, 2013 (in billions)(a) | Trading assets – | Loans | Other(d) | Total | Beneficial interests in | Other(g) | Total | ||||||||||||||||
debt and equity instruments | assets(e) | VIE assets(f) | liabilities | ||||||||||||||||||||
VIE program type | |||||||||||||||||||||||
Firm-sponsored credit card trusts | $ | — | $ | 46.9 | $ | 1.1 | $ | 48 | $ | 26.6 | $ | — | $ | 26.6 | |||||||||
Firm-administered multi-seller conduits | — | 19 | 0.1 | 19.1 | 14.9 | — | 14.9 | ||||||||||||||||
Municipal bond vehicles | 3.4 | — | — | 3.4 | 2.9 | — | 2.9 | ||||||||||||||||
Mortgage securitization entities(b) | 2.3 | 1.7 | — | 4 | 2.9 | 0.9 | 3.8 | ||||||||||||||||
Other(c) | 0.7 | 2.5 | 1 | 4.2 | 2.3 | 0.2 | 2.5 | ||||||||||||||||
Total | $ | 6.4 | $ | 70.1 | $ | 2.2 | $ | 78.7 | $ | 49.6 | $ | 1.1 | $ | 50.7 | |||||||||
Assets | Liabilities | ||||||||||||||||||||||
December 31, 2012 (in billions)(a) | Trading assets – | Loans | Other(d) | Total | Beneficial interests in | Other(g) | Total | ||||||||||||||||
debt and equity instruments | assets(e) | VIE assets(f) | liabilities | ||||||||||||||||||||
VIE program type | |||||||||||||||||||||||
Firm-sponsored credit card trusts | $ | — | $ | 51.9 | $ | 0.8 | $ | 52.7 | $ | 30.1 | $ | — | $ | 30.1 | |||||||||
Firm-administered multi-seller conduits | — | 25.4 | 0.1 | 25.5 | 17.2 | — | 17.2 | ||||||||||||||||
Municipal bond vehicles | 9.8 | — | 0.1 | 9.9 | 11 | — | 11 | ||||||||||||||||
Mortgage securitization entities(b) | 1.4 | 2 | — | 3.4 | 2.3 | 1.1 | 3.4 | ||||||||||||||||
Other(c) | 0.8 | 3.4 | 1.1 | 5.3 | 2.6 | 0.1 | 2.7 | ||||||||||||||||
Total | $ | 12 | $ | 82.7 | $ | 2.1 | $ | 96.8 | $ | 63.2 | $ | 1.2 | $ | 64.4 | |||||||||
(a) | Excludes intercompany transactions which were eliminated in consolidation. | ||||||||||||||||||||||
(b) | Includes residential and commercial mortgage securitizations as well as re-securitizations. | ||||||||||||||||||||||
(c) | Primarily comprises student loan securitization entities. The Firm consolidated $2.5 billion and $3.3 billion of student loan securitization entities as of December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||
(d) | Includes assets classified as cash, derivative receivables, AFS securities, and other assets within the Consolidated Balance Sheets. | ||||||||||||||||||||||
(e) | The assets of the consolidated VIEs included in the program types above are used to settle the liabilities of those entities. The difference between total assets and total liabilities recognized for consolidated VIEs represents the Firm’s interest in the consolidated VIEs for each program type. | ||||||||||||||||||||||
(f) | The interest-bearing beneficial interest liabilities issued by consolidated VIEs are classified in the line item on the Consolidated Balance Sheets titled, “Beneficial interests issued by consolidated variable interest entities.” The holders of these beneficial interests do not have recourse to the general credit of JPMorgan Chase. Included in beneficial interests in VIE assets are long-term beneficial interests of $31.8 billion and $35.0 billion at December 31, 2013 and 2012, respectively. The maturities of the long-term beneficial interests as of December 31, 2013, were as follows: $3.8 billion under one year, $20.6 billion between one and five years, and $7.4 billion over five years, all respectively. | ||||||||||||||||||||||
(g) | Includes liabilities classified as accounts payable and other liabilities in the Consolidated Balance Sheets. | ||||||||||||||||||||||
Supplemental information on loan securitizations | |||||||||||||||||||||||
The Firm has securitized and sold a variety of loans, including residential mortgage, credit card, automobile, student and commercial (primarily related to real estate) loans, as well as debt securities. The primary purposes of these securitization transactions were to satisfy investor demand and to generate liquidity for the Firm. | |||||||||||||||||||||||
For loan securitizations in which the Firm is not required to consolidate the trust, the Firm records the transfer of the loan receivable to the trust as a sale when the accounting criteria for a sale are met. Those criteria are: (1) the transferred financial assets are legally isolated from the Firm’s creditors; (2) the transferee or beneficial interest holder can pledge or exchange the transferred financial assets; and (3) the Firm does not maintain effective control over the transferred financial assets (e.g., the Firm cannot repurchase the transferred assets before their maturity and it does not have the ability to unilaterally cause the holder to return the transferred assets). | |||||||||||||||||||||||
For loan securitizations accounted for as a sale, the Firm recognizes a gain or loss based on the difference between the value of proceeds received (including cash, beneficial interests, or servicing assets received) and the carrying value of the assets sold. Gains and losses on securitizations are reported in noninterest revenue. | |||||||||||||||||||||||
Securitization activity | |||||||||||||||||||||||
The following tables provide information related to the Firm’s securitization activities for the years ended December 31, 2013, 2012 and 2011, related to assets held in JPMorgan Chase-sponsored securitization entities that were not consolidated by the Firm, and where sale accounting was achieved based on the accounting rules in effect at the time of the securitization. | |||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||
Year ended December 31, | Residential mortgage(d) | Commercial and other(f)(g) | Residential mortgage(d)(e) | Commercial and other(f)(g) | Residential mortgage(d)(e) | Commercial and other(f)(g) | |||||||||||||||||
(in millions, except rates)(a) | |||||||||||||||||||||||
Principal securitized | $ | 1,404 | $ | 11,318 | $ | — | $ | 5,421 | $ | — | $ | 5,961 | |||||||||||
All cash flows during the period: | |||||||||||||||||||||||
Proceeds from new securitizations(b) | $ | 1,410 | $ | 11,507 | $ | — | $ | 5,705 | $ | — | $ | 6,142 | |||||||||||
Servicing fees collected | 576 | 5 | 662 | 4 | 755 | 4 | |||||||||||||||||
Purchases of previously transferred financial assets (or the underlying collateral)(c) | 294 | — | 222 | — | 772 | — | |||||||||||||||||
Cash flows received on interests | 156 | 325 | 185 | 163 | 235 | 178 | |||||||||||||||||
(a) | Excludes re-securitization transactions. | ||||||||||||||||||||||
(b) | Proceeds from residential mortgage securitizations were received in the form of securities. During 2013, $1.4 billion of residential mortgage securitizations were classified in level 2 of the fair value hierarchy. Proceeds from commercial mortgage securitizations were received as securities and cash. During 2013, $11.3 billion of commercial mortgage securitizations were classified in level 2 of the fair value hierarchy, and $207 million of proceeds from commercial mortgage securitizations were received as cash. During 2012, $5.7 billion of commercial mortgage securitizations were classified in level 2 of the fair value hierarchy. During 2011, $4.0 billion and $2.1 billion commercial mortgage securitizations were classified in levels 2 and 3 of the fair value hierarchy, respectively. | ||||||||||||||||||||||
(c) | Includes cash paid by the Firm to reacquire assets from off–balance sheet, nonconsolidated entities – for example, loan repurchases due to representation and warranties and servicer clean-up calls | ||||||||||||||||||||||
(d) | Includes prime, Alt-A, subprime, and option ARMs. Excludes sales for which the Firm did not securitize the loan (including loans sold to Ginnie Mae, Fannie Mae and Freddie Mac). | ||||||||||||||||||||||
(e) | There were no residential mortgage securitizations during 2012 and 2011. | ||||||||||||||||||||||
(f) | Includes commercial and student loan securitizations. | ||||||||||||||||||||||
(g) | Key assumptions used to measure retained interests originated during the year included weighted-average life (in years) of 8.3, 8.8 and 1.7 for the years ended December 31, 2013, 2012, and 2011, respectively, and weighted-average discount rate of 3.2%, 3.6% and 3.5% for the years ended December 31, 2013, 2012, and 2011, respectively. | ||||||||||||||||||||||
Loans and excess mortgage servicing rights sold to agencies and other third-party-sponsored securitization entities | |||||||||||||||||||||||
In addition to the amounts reported in the securitization activity tables above, the Firm, in the normal course of business, sells originated and purchased mortgage loans and certain originated excess mortgage servicing rights on a nonrecourse basis, predominantly to Ginnie Mae, Fannie Mae and Freddie Mac (the “Agencies”). These loans and excess mortgage servicing rights are sold primarily for the purpose of securitization by the Agencies, which also provide credit enhancement of the loans and excess mortgage servicing rights through certain guarantee provisions. The Firm does not consolidate these securitization vehicles as it is not the primary beneficiary. For a limited number of loan sales, the Firm is obligated to share a portion of the credit risk associated with the sold loans with the purchaser. See Note 29 on pages 318–324 of this Annual Report for additional information about the Firm’s loan sales- and securitization-related indemnifications. See Note 17 on pages 299–304 of this Annual Report for additional information about the impact of the Firm’s sale of certain excess mortgage servicing rights. | |||||||||||||||||||||||
The following table summarizes the activities related to loans sold to U.S. government-sponsored agencies and third-party-sponsored securitization entities. | |||||||||||||||||||||||
Year ended December 31, | 2013 | 2012(e) | 2011(e) | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Carrying value of loans sold(a) | $ | 166,028 | $ | 179,008 | $ | 149,247 | |||||||||||||||||
Proceeds received from loan sales as cash | $ | 782 | $ | 195 | $ | 122 | |||||||||||||||||
Proceeds from loan sales as securities(b) | 163,373 | 176,592 | 146,704 | ||||||||||||||||||||
Total proceeds received from loan sales(c) | $ | 164,155 | $ | 176,787 | $ | 146,826 | |||||||||||||||||
Gains on loan sales(d) | 302 | 141 | 133 | ||||||||||||||||||||
(a) | Predominantly to U.S. government agencies. | ||||||||||||||||||||||
(b) | Predominantly includes securities from U.S. government agencies that are generally sold shortly after receipt. | ||||||||||||||||||||||
(c) | Excludes the value of MSRs retained upon the sale of loans. Gains on loan sales include the value of MSRs. | ||||||||||||||||||||||
(d) | The carrying value of the loans accounted for at fair value approximated the proceeds received upon loan sale. | ||||||||||||||||||||||
(e) | Prior periods have been revised to conform with the current presentation. | ||||||||||||||||||||||
Options to repurchase delinquent loans | |||||||||||||||||||||||
In addition to the Firm’s obligation to repurchase certain loans due to material breaches of representations and warranties as discussed in Note 29 on pages 318–324 of this Annual Report, the Firm also has the option to repurchase delinquent loans that it services for Ginnie Mae loan pools, as well as for other U.S. government agencies under certain arrangements. The Firm typically elects to repurchase delinquent loans from Ginnie Mae loan pools as it continues to service them and/or manage the foreclosure process in accordance with the applicable requirements, and such loans continue to be insured or guaranteed. When the Firm’s repurchase option becomes exercisable, such loans must be reported on the Consolidated Balance Sheets as a loan with a corresponding liability. As of December 31, 2013 and 2012, the Firm had recorded on its Consolidated Balance Sheets $14.3 billion and $15.6 billion, respectively, of loans that either had been repurchased or for which the Firm had an option to repurchase. Predominantly all of these amounts relate to loans that have been repurchased from Ginnie Mae loan pools. Additionally, real estate owned resulting from voluntary repurchases of loans was $2.0 billion and $1.6 billion as of December 31, 2013 and 2012, respectively. Substantially all of these loans and real estate owned are insured or guaranteed by U.S. government agencies. For additional information, refer to Note 14 on pages 258–283 of this Annual Report. | |||||||||||||||||||||||
JPMorgan Chase’s interest in securitized assets held at fair value | |||||||||||||||||||||||
The following table outlines the key economic assumptions used to determine the fair value, as of December 31, 2013 and 2012, of certain of the Firm’s retained interests in nonconsolidated VIEs (other than MSRs), that are valued using modeling techniques. The table also outlines the sensitivities of those fair values to immediate 10% and 20% adverse changes in assumptions used to determine fair value. For a discussion of MSRs, see Note 17 on pages 299–304 of this Annual Report. | |||||||||||||||||||||||
Commercial and other | |||||||||||||||||||||||
December 31, (in millions, except rates and where otherwise noted)(a) | 2013 | 2012 | |||||||||||||||||||||
JPMorgan Chase interests in securitized assets(b) | $ | 520 | $ | 1,488 | |||||||||||||||||||
Weighted-average life (in years) | 5.5 | 6.1 | |||||||||||||||||||||
Weighted-average discount rate(b) | 3.8 | % | 4.1 | % | |||||||||||||||||||
Impact of 10% adverse change | $ | (9 | ) | $ | (34 | ) | |||||||||||||||||
Impact of 20% adverse change | (18 | ) | (65 | ) | |||||||||||||||||||
(a) | The Firm’s interests in prime mortgage securitizations were $552 million and $341 million, as of December 31, 2013 and 2012, respectively. These include retained interests in Alt-A loans and re-securitization transactions. The Firm’s interests in subprime mortgage securitizations were $91 million and $68 million, as of December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||
(b) | Incorporates the Firm’s weighted-average loss assumption. | ||||||||||||||||||||||
The sensitivity analysis in the preceding table is hypothetical. Changes in fair value based on a 10% or 20% variation in assumptions generally cannot be extrapolated easily, because the relationship of the change in the assumptions to the change in fair value may not be linear. Also, in the table, the effect that a change in a particular assumption may have on the fair value is calculated without changing any other assumption. In reality, changes in one factor may result in changes in another, which might counteract or magnify the sensitivities. The above sensitivities also do not reflect risk management practices the Firm may undertake to mitigate such risks. | |||||||||||||||||||||||
Loan delinquencies and liquidation losses | |||||||||||||||||||||||
The table below includes information about components of nonconsolidated securitized financial assets, in which the Firm has continuing involvement, and delinquencies as of December 31, 2013 and 2012. | |||||||||||||||||||||||
Securitized assets | 90 days past due | Liquidation losses | |||||||||||||||||||||
As of or for the year ended December 31, (in millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Securitized loans(a) | |||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||
Prime/ Alt-A & Option ARMs | $ | 90,381 | $ | 106,667 | $ | 14,882 | $ | 22,865 | $ | 4,688 | $ | 9,118 | |||||||||||
Subprime mortgage | 28,008 | 31,264 | 7,726 | 10,570 | 2,420 | 3,013 | |||||||||||||||||
Commercial and other | 98,018 | 81,834 | 2,350 | 4,077 | 1,003 | 1,265 | |||||||||||||||||
Total loans securitized(b) | $ | 216,407 | $ | 219,765 | $ | 24,958 | $ | 37,512 | $ | 8,111 | $ | 13,396 | |||||||||||
(a) | Total assets held in securitization-related SPEs were $271.7 billion and $295.8 billion, respectively, at December 31, 2013 and 2012. The $216.4 billion and $219.8 billion, respectively, of loans securitized at December 31, 2013 and 2012, excludes: $50.8 billion and $72.0 billion, respectively, of securitized loans in which the Firm has no continuing involvement, and $4.5 billion and $4.0 billion, respectively, of loan securitizations consolidated on the Firm’s Consolidated Balance Sheets at December 31, 2013 and 2012. | ||||||||||||||||||||||
(b) | Includes securitized loans that were previously recorded at fair value and classified as trading assets. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||
Goodwill and other intangible assets | ' | |||||||||||||||||||
Goodwill and other intangible assets | ||||||||||||||||||||
Goodwill and other intangible assets consist of the following. | ||||||||||||||||||||
December 31, (in millions) | 2013 | 2012 | 2011 | |||||||||||||||||
Goodwill | $ | 48,081 | $ | 48,175 | $ | 48,188 | ||||||||||||||
Mortgage servicing rights | 9,614 | 7,614 | 7,223 | |||||||||||||||||
Other intangible assets: | ||||||||||||||||||||
Purchased credit card relationships | $ | 131 | $ | 295 | $ | 602 | ||||||||||||||
Other credit card-related intangibles | 173 | 229 | 488 | |||||||||||||||||
Core deposit intangibles | 159 | 355 | 594 | |||||||||||||||||
Other intangibles | 1,155 | 1,356 | 1,523 | |||||||||||||||||
Total other intangible assets | $ | 1,618 | $ | 2,235 | $ | 3,207 | ||||||||||||||
Goodwill | ||||||||||||||||||||
Goodwill is recorded upon completion of a business combination as the difference between the purchase price and the fair value of the net assets acquired. Subsequent to initial recognition, goodwill is not amortized but is tested for impairment during the fourth quarter of each fiscal year, or more often if events or circumstances, such as adverse changes in the business climate, indicate there may be impairment. | ||||||||||||||||||||
The goodwill associated with each business combination is allocated to the related reporting units, which are determined based on how the Firm’s businesses are managed and how they are reviewed by the Firm’s Operating Committee. The following table presents goodwill attributed to the business segments. | ||||||||||||||||||||
December 31, (in millions) | 2013 | 2012 | 2011 | |||||||||||||||||
Consumer & Community Banking | $ | 30,985 | $ | 31,048 | $ | 30,996 | ||||||||||||||
Corporate & Investment Bank | 6,888 | 6,895 | 6,944 | |||||||||||||||||
Commercial Banking | 2,862 | 2,863 | 2,864 | |||||||||||||||||
Asset Management | 6,969 | 6,992 | 7,007 | |||||||||||||||||
Corporate/Private Equity | 377 | 377 | 377 | |||||||||||||||||
Total goodwill | $ | 48,081 | $ | 48,175 | $ | 48,188 | ||||||||||||||
The following table presents changes in the carrying amount of goodwill. | ||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||||
(in millions) | ||||||||||||||||||||
Balance at beginning of period(a) | $ | 48,175 | $ | 48,188 | $ | 48,854 | ||||||||||||||
Changes during the period from: | ||||||||||||||||||||
Business combinations | 64 | 43 | 97 | |||||||||||||||||
Dispositions | (5 | ) | (4 | ) | (685 | ) | ||||||||||||||
Other(b) | (153 | ) | (52 | ) | (78 | ) | ||||||||||||||
Balance at December 31,(a) | $ | 48,081 | $ | 48,175 | $ | 48,188 | ||||||||||||||
(a) | Reflects gross goodwill balances as the Firm has not recognized any impairment losses to date. | |||||||||||||||||||
(b) | Includes foreign currency translation adjustments and other tax-related adjustments. | |||||||||||||||||||
Impairment testing | ||||||||||||||||||||
Goodwill was not impaired at December 31, 2013 or 2012, nor was any goodwill written off due to impairment during 2013, 2012 or 2011. | ||||||||||||||||||||
The goodwill impairment test is performed in two steps. In the first step, the current fair value of each reporting unit is compared with its carrying value, including goodwill. If the fair value is in excess of the carrying value (including goodwill), then the reporting unit’s goodwill is considered not to be impaired. If the fair value is less than the carrying value (including goodwill), then a second step is performed. In the second step, the implied current fair value of the reporting unit’s goodwill is determined by comparing the fair value of the reporting unit (as determined in step one) to the fair value of the net assets of the reporting unit, as if the reporting unit were being acquired in a business combination. The resulting implied current fair value of goodwill is then compared with the carrying value of the reporting unit’s goodwill. If the carrying value of the goodwill exceeds its implied current fair value, then an impairment charge is recognized for the excess. If the carrying value of goodwill is less than its implied current fair value, then no goodwill impairment is recognized. | ||||||||||||||||||||
The Firm uses the reporting units’ allocated equity plus goodwill capital as a proxy for the carrying amounts of equity for the reporting units in the goodwill impairment testing. Reporting unit equity is determined on a similar basis as the allocation of equity to the Firm’s lines of business, which takes into consideration the capital the business segment would require if it were operating independently, incorporating sufficient capital to address regulatory capital requirements (including Basel III), economic risk measures and capital levels for similarly rated peers. Proposed line of business equity levels are incorporated into the Firm’s annual budget process, which is reviewed by the Firm’s Board of Directors. Allocated equity is further reviewed on a periodic basis and updated as needed. | ||||||||||||||||||||
The primary method the Firm uses to estimate the fair value of its reporting units is the income approach. The models project cash flows for the forecast period and use the perpetuity growth method to calculate terminal values. These cash flows and terminal values are then discounted using an appropriate discount rate. Projections of cash flows are based on the reporting units’ earnings forecasts, which include the estimated effects of regulatory and legislative changes (including, but not limited to the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”)), and which are reviewed with the Operating Committee of the Firm. The discount rate used for each reporting unit represents an estimate of the cost of equity for that reporting unit and is determined considering the Firm’s overall estimated cost of equity (estimated using the Capital Asset Pricing Model), as adjusted for the risk characteristics specific to each reporting unit (for example, for higher levels of risk or uncertainty associated with the business or management’s forecasts and assumptions). To assess the reasonableness of the discount rates used for each reporting unit management compares the discount rate to the estimated cost of equity for publicly traded institutions with similar businesses and risk characteristics. In addition, the weighted average cost of equity (aggregating the various reporting units) is compared with the Firms’ overall estimated cost of equity to ensure reasonableness. | ||||||||||||||||||||
The valuations derived from the discounted cash flow models are then compared with market-based trading and transaction multiples for relevant competitors. Trading and transaction comparables are used as general indicators to assess the general reasonableness of the estimated fair values, although precise conclusions generally cannot be drawn due to the differences that naturally exist between the Firm’s businesses and competitor institutions. Management also takes into consideration a comparison between the aggregate fair value of the Firm’s reporting units and JPMorgan Chase’s market capitalization. In evaluating this comparison, management considers several factors, including (a) a control premium that would exist in a market transaction, (b) factors related to the level of execution risk that would exist at the firmwide level that do not exist at the reporting unit level and (c) short-term market volatility and other factors that do not directly affect the value of individual reporting units. | ||||||||||||||||||||
While no impairment of goodwill was recognized, the Firm’s Mortgage Banking business in CCB remains at an elevated risk of goodwill impairment due to its exposure to U.S. consumer credit risk and the effects of economic, regulatory and legislative changes. The valuation of this business is particularly dependent upon economic conditions (including primary mortgage interest rates, lower mortgage origination volume, new unemployment claims and home prices), regulatory and legislative changes (for example, those related to residential mortgage servicing, foreclosure and loss mitigation activities), and the amount of equity capital required. The assumptions used in the discounted cash flow valuation models including the amount of capital necessary given the risk of business activities to meet regulatory capital requirements were determined using management’s best estimates. The cost of equity reflected the related risks and uncertainties, and was evaluated in comparison to relevant market peers. Deterioration in these assumptions could cause the estimated fair values of these reporting units and their associated goodwill to decline, which may result in a material impairment charge to earnings in a future period related to some portion of the associated goodwill. | ||||||||||||||||||||
Mortgage servicing rights | ||||||||||||||||||||
Mortgage servicing rights represent the fair value of expected future cash flows for performing servicing activities for others. The fair value considers estimated future servicing fees and ancillary revenue, offset by estimated costs to service the loans, and generally declines over time as net servicing cash flows are received, effectively amortizing the MSR asset against contractual servicing and ancillary fee income. MSRs are either purchased from third parties or recognized upon sale or securitization of mortgage loans if servicing is retained. | ||||||||||||||||||||
As permitted by U.S. GAAP, the Firm elected to account for its MSRs at fair value. The Firm treats its MSRs as a single class of servicing assets based on the availability of market inputs used to measure the fair value of its MSR asset and its treatment of MSRs as one aggregate pool for risk management purposes. The Firm estimates the fair value of MSRs using an option-adjusted spread (“OAS”) model, which projects MSR cash flows over multiple interest rate scenarios in conjunction with the Firm’s prepayment model, and then discounts these cash flows at risk-adjusted rates. The model considers portfolio characteristics, contractually specified servicing fees, prepayment assumptions, delinquency rates, costs to service, late charges and other ancillary revenue, and other economic factors. The Firm compares fair value estimates and assumptions to observable market data where available, and also considers recent market activity and actual portfolio experience. | ||||||||||||||||||||
The fair value of MSRs is sensitive to changes in interest rates, including their effect on prepayment speeds. MSRs typically decrease in value when interest rates decline because declining interest rates tend to increase prepayments and therefore reduce the expected life of the net servicing cash flows that comprise the MSR asset. Conversely, securities (e.g., mortgage-backed securities), principal-only certificates and certain derivatives (i.e., those for which the Firm receives fixed-rate interest payments) increase in value when interest rates decline. JPMorgan Chase uses combinations of derivatives and securities to manage changes in the fair value of MSRs. The intent is to offset any interest-rate related changes in the fair value of MSRs with changes in the fair value of the related risk management instruments. | ||||||||||||||||||||
The following table summarizes MSR activity for the years ended December 31, 2013, 2012 and 2011. | ||||||||||||||||||||
As of or for the year ended December 31, (in millions, except where otherwise noted) | 2013 | 2012 | 2011 | |||||||||||||||||
Fair value at beginning of period | $ | 7,614 | $ | 7,223 | $ | 13,649 | ||||||||||||||
MSR activity: | ||||||||||||||||||||
Originations of MSRs | 2,214 | 2,376 | 2,570 | |||||||||||||||||
Purchase of MSRs | 1 | 457 | 33 | |||||||||||||||||
Disposition of MSRs(a) | (725 | ) | (579 | ) | — | |||||||||||||||
Net additions | 1,490 | 2,254 | 2,603 | |||||||||||||||||
Changes due to collection/realization of expected cash flows(b) | (1,102 | ) | (1,228 | ) | (1,910 | ) | ||||||||||||||
Changes in valuation due to inputs and assumptions: | ||||||||||||||||||||
Changes due to market interest rates and other(c) | 2,122 | (589 | ) | (5,392 | ) | |||||||||||||||
Changes in valuation due to other inputs and assumptions: | ||||||||||||||||||||
Projected cash flows (e.g., cost to service)(d) | 109 | (452 | ) | (1,757 | ) | |||||||||||||||
Discount rates | (78 | ) | (98 | ) | (1,238 | ) | ||||||||||||||
Prepayment model changes and other(e) | (541 | ) | 504 | 1,268 | ||||||||||||||||
Total changes in valuation due to other inputs and assumptions | (510 | ) | (46 | ) | (1,727 | ) | ||||||||||||||
Total changes in valuation due to inputs and assumptions(b) | $ | 1,612 | $ | (635 | ) | $ | (7,119 | ) | ||||||||||||
Fair value at December 31,(f) | $ | 9,614 | $ | 7,614 | $ | 7,223 | ||||||||||||||
Change in unrealized gains/(losses) included in income related to MSRs | $ | 1,612 | $ | (635 | ) | $ | (7,119 | ) | ||||||||||||
held at December 31, | ||||||||||||||||||||
Contractual service fees, late fees and other ancillary fees included in income | $ | 3,309 | $ | 3,783 | $ | 3,977 | ||||||||||||||
Third-party mortgage loans serviced at December 31, (in billions) | $ | 822 | $ | 867 | $ | 910 | ||||||||||||||
Servicer advances, net of an allowance for uncollectible amounts, at December 31, (in billions)(g) | $ | 9.6 | $ | 10.9 | $ | 11.1 | ||||||||||||||
(a) | Predominantly represents excess mortgage servicing rights transferred to agency-sponsored trusts in exchange for stripped mortgage backed securities (“SMBS”). In each transaction, a portion of the SMBS was acquired by third parties at the transaction date; the Firm acquired and has retained the remaining balance of those SMBS as trading securities. Also includes sales of MSRs in 2013 and 2012. | |||||||||||||||||||
(b) | Included changes related to commercial real estate of $(5) million, $(8) million and $(9) million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||
(c) | Represents both the impact of changes in estimated future prepayments due to changes in market interest rates, and the difference between actual and expected prepayments. | |||||||||||||||||||
(d) | For the year ended December 31, 2013, the increase was driven by the inclusion in the MSR valuation model of servicing fees receivable on certain delinquent loans. | |||||||||||||||||||
(e) | Represents changes in prepayments other than those attributable to changes in market interest rates. For the year ended December 31, 2013, the decrease was driven by changes in the inputs and assumptions used to derive prepayment speeds, primarily increases in home prices. | |||||||||||||||||||
(f) | Included $18 million, $23 million and $31 million related to commercial real estate at December 31, 2013, 2012, and 2011, respectively. | |||||||||||||||||||
(g) | Represents amounts the Firm pays as the servicer (e.g., scheduled principal and interest to a trust, taxes and insurance), which will generally be reimbursed within a short period of time after the advance from future cash flows from the trust or the underlying loans. The Firm’s credit risk associated with these advances is minimal because reimbursement of the advances is typically senior to all cash payments to investors. In addition, the Firm maintains the right to stop payment to investors if the collateral is insufficient to cover the advance. However, certain of these servicer advances may not be recoverable if they were not made in accordance with applicable rules and agreements. | |||||||||||||||||||
During the year ended December 31, 2011, the fair value of the MSR decreased by $6.4 billion. This decrease was predominantly due to a decline in market interest rates, which resulted in a loss in fair value of $5.4 billion. These losses were offset by gains of $5.6 billion on derivatives used to hedge the MSR asset; these derivatives are recognized on the Consolidated Balance Sheets separately from the MSR asset. Also contributing to the decline in fair value of the MSR asset was a $1.7 billion decrease related to revised cost to service and ancillary income assumptions incorporated in the MSR valuation. The increased cost to service assumptions reflected the estimated impact of higher servicing costs to enhance servicing processes, particularly loan modification and foreclosure procedures, including costs to comply with Consent Orders entered into with banking regulators. The increase in the cost to service assumption contemplated significant and prolonged increases in staffing levels in the core and default servicing functions. The decreased ancillary income assumption was similarly related to a reassessment of business practices in consideration of the Consent Orders and the existing industry-wide regulatory environment, which was broadly affecting market participants. | ||||||||||||||||||||
Also in the fourth quarter of 2011, the Firm revised its OAS assumption and updated its proprietary prepayment model; these changes had generally offsetting effects. The Firm’s OAS assumption is based upon capital and return requirements that the Firm believes a market participant would consider, taking into account factors such as the pending Basel III capital rules. Consequently, the OAS assumption for the Firm’s portfolio increased by approximately 400 basis points and decreased the fair value of the MSR asset by approximately $1.2 billion. | ||||||||||||||||||||
Finally, in the fourth quarter of 2011, the Firm further enhanced its proprietary prepayment model to incorporate: (i) the impact of the Home Affordable Refinance Program (“HARP”) 2.0, and (ii) assumptions that to limit modeled refinancings due to the combined influences of relatively strict underwriting standards and reduced levels of expected home price appreciation. In the aggregate, these refinements increased the fair value of the MSR asset by approximately $1.2 billion. | ||||||||||||||||||||
The following table presents the components of mortgage fees and related income (including the impact of MSR risk management activities) for the years ended December 31, 2013, 2012 and 2011. | ||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||||
(in millions) | ||||||||||||||||||||
CCB mortgage fees and related income | ||||||||||||||||||||
Net production revenue: | ||||||||||||||||||||
Production revenue | $ | 2,673 | $ | 5,783 | $ | 3,395 | ||||||||||||||
Repurchase losses | 331 | (272 | ) | (1,347 | ) | |||||||||||||||
Net production revenue | 3,004 | 5,511 | 2,048 | |||||||||||||||||
Net mortgage servicing revenue | ||||||||||||||||||||
Operating revenue: | ||||||||||||||||||||
Loan servicing revenue | 3,552 | 3,772 | 4,134 | |||||||||||||||||
Changes in MSR asset fair value due to collection/realization of expected cash flows | (1,094 | ) | (1,222 | ) | (1,904 | ) | ||||||||||||||
Total operating revenue | 2,458 | 2,550 | 2,230 | |||||||||||||||||
Risk management: | ||||||||||||||||||||
Changes in MSR asset fair value due to market interest rates and other(a) | 2,119 | (587 | ) | (5,390 | ) | |||||||||||||||
Other changes in MSR asset fair value due to other inputs and assumptions in model(b) | (511 | ) | (46 | ) | (1,727 | ) | ||||||||||||||
Change in derivative fair value and other | (1,875 | ) | 1,252 | 5,553 | ||||||||||||||||
Total risk management | (267 | ) | 619 | (1,564 | ) | |||||||||||||||
Total CCB net mortgage servicing revenue | 2,191 | 3,169 | 666 | |||||||||||||||||
All other | 10 | 7 | 7 | |||||||||||||||||
Mortgage fees and related income | $ | 5,205 | $ | 8,687 | $ | 2,721 | ||||||||||||||
(a) | Represents both the impact of changes in estimated future prepayments due to changes in market interest rates, and the difference between actual and expected prepayments. | |||||||||||||||||||
(b) | Represents the aggregate impact of changes in model inputs and assumptions such as projected cash flows (e.g., cost to service), discount rates and changes in prepayments other than those attributable to changes in market interest rates (e.g., changes in prepayments due to changes in home prices). For the year ended December 31, 2013, the decrease was driven by changes in the inputs and assumptions used to derive prepayment speeds, primarily increases in home prices. | |||||||||||||||||||
The table below outlines the key economic assumptions used to determine the fair value of the Firm’s MSRs at December 31, 2013 and 2012, and outlines the sensitivities of those fair values to immediate adverse changes in those assumptions, as defined below. | ||||||||||||||||||||
December 31, | 2013 | 2012 | ||||||||||||||||||
(in millions, except rates) | ||||||||||||||||||||
Weighted-average prepayment speed assumption (“CPR”) | 8.07 | % | 13.04 | % | ||||||||||||||||
Impact on fair value of 10% adverse change | $ | (362 | ) | $ | (517 | ) | ||||||||||||||
Impact on fair value of 20% adverse change | (705 | ) | (1,009 | ) | ||||||||||||||||
Weighted-average option adjusted spread | 7.77 | % | 7.61 | % | ||||||||||||||||
Impact on fair value of 100 basis points adverse change | $ | (389 | ) | $ | (306 | ) | ||||||||||||||
Impact on fair value of 200 basis points adverse change | (750 | ) | (591 | ) | ||||||||||||||||
CPR: Constant prepayment rate. | ||||||||||||||||||||
The sensitivity analysis in the preceding table is hypothetical and should be used with caution. Changes in fair value based on variation in assumptions generally cannot be easily extrapolated, because the relationship of the change in the assumptions to the change in fair value are often highly interrelated and may not be linear. In this table, the effect that a change in a particular assumption may have on the fair value is calculated without changing any other assumption. In reality, changes in one factor may result in changes in another, which would either magnify or counteract the impact of the initial change. | ||||||||||||||||||||
Other intangible assets | ||||||||||||||||||||
Other intangible assets are recorded at their fair value upon completion of a business combination or certain other transactions, and generally represent the value of customer relationships or arrangements. Subsequently, the Firm’s intangible assets with finite lives, including core deposit intangibles, purchased credit card relationships, and other intangible assets, are amortized over their useful lives in a manner that best reflects the economic benefits of the intangible asset. The $617 million decrease in other intangible assets during 2013 was predominantly due to $637 million in amortization. | ||||||||||||||||||||
The components of credit card relationships, core deposits and other intangible assets were as follows. | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Gross amount(a) | Accumulated amortization(a) | Net | Gross amount | Accumulated amortization | Net | |||||||||||||||
December 31, (in millions) | carrying value | carrying value | ||||||||||||||||||
Purchased credit card relationships | $ | 3,540 | $ | 3,409 | $ | 131 | $ | 3,775 | $ | 3,480 | $ | 295 | ||||||||
Other credit card-related intangibles | 542 | 369 | 173 | 850 | 621 | 229 | ||||||||||||||
Core deposit intangibles | 4,133 | 3,974 | 159 | 4,133 | 3,778 | 355 | ||||||||||||||
Other intangibles(b) | 2,374 | 1,219 | 1,155 | 2,390 | 1,034 | 1,356 | ||||||||||||||
(a) | The decrease in the gross amount and accumulated amortization from December 31, 2012, was due to the removal of fully amortized assets. | |||||||||||||||||||
(b) | Includes intangible assets of approximately $600 million consisting primarily of asset management advisory contracts, which were determined to have an indefinite life and are not amortized. | |||||||||||||||||||
Amortization expense | ||||||||||||||||||||
The following table presents amortization expense related to credit card relationships, core deposits and other intangible assets. | ||||||||||||||||||||
Year ended December 31, (in millions) | 2013 | 2012 | 2011 | |||||||||||||||||
Purchased credit card relationships | $ | 195 | $ | 309 | $ | 295 | ||||||||||||||
Other credit card-related intangibles | 58 | 265 | 106 | |||||||||||||||||
Core deposit intangibles | 196 | 239 | 285 | |||||||||||||||||
Other intangibles | 188 | 144 | 162 | |||||||||||||||||
Total amortization expense | $ | 637 | $ | 957 | $ | 848 | ||||||||||||||
Future amortization expense | ||||||||||||||||||||
The following table presents estimated future amortization expense related to credit card relationships, core deposits and other intangible assets at December 31, 2013. | ||||||||||||||||||||
Year ended December 31, (in millions) | Purchased credit card relationships | Other credit | Core deposit intangibles | Other | Total | |||||||||||||||
card-related intangibles | intangibles | |||||||||||||||||||
2014 | $ | 96 | $ | 51 | $ | 102 | $ | 111 | $ | 360 | ||||||||||
2015 | 12 | 39 | 26 | 92 | 169 | |||||||||||||||
2016 | 9 | 34 | 14 | 86 | 143 | |||||||||||||||
2017 | 5 | 29 | 7 | 61 | 102 | |||||||||||||||
2018 | 3 | 20 | 5 | 52 | 80 | |||||||||||||||
Impairment testing | ||||||||||||||||||||
The Firm’s intangible assets are tested for impairment annually or more often if events or changes in circumstances indicate that the asset might be impaired. | ||||||||||||||||||||
The impairment test for a finite-lived intangible asset compares the undiscounted cash flows associated with the use or disposition of the intangible asset to its carrying value. If the sum of the undiscounted cash flows exceeds its carrying value, then no impairment charge is recorded. If the sum of the undiscounted cash flows is less than its carrying value, then an impairment charge is recognized in amortization expense to the extent the carrying amount of the asset exceeds its fair value. | ||||||||||||||||||||
The impairment test for indefinite-lived intangible assets compares the fair value of the intangible asset to its carrying amount. If the carrying value exceeds the fair value, then an impairment charge is recognized in amortization expense for the difference. |
Premises_and_Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2013 | |
Property, Plant and Equipment [Abstract] | ' |
Premises and equipment | ' |
Premises and equipment | |
Premises and equipment, including leasehold improvements, are carried at cost less accumulated depreciation and amortization. JPMorgan Chase computes depreciation using the straight-line method over the estimated useful life of an asset. For leasehold improvements, the Firm uses the straight-line method computed over the lesser of the remaining term of the leased facility or the estimated useful life of the leased asset. JPMorgan Chase has recorded immaterial asset retirement obligations related to asbestos remediation in those cases where it has sufficient information to estimate the obligations’ fair value. | |
JPMorgan Chase capitalizes certain costs associated with the acquisition or development of internal-use software. Once the software is ready for its intended use, these costs are amortized on a straight-line basis over the software’s expected useful life and reviewed for impairment on an ongoing basis. |
Deposits
Deposits | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Deposits [Abstract] | ' | ||||||||||||
Deposits | ' | ||||||||||||
Deposits | |||||||||||||
At December 31, 2013 and 2012, noninterest-bearing and interest-bearing deposits were as follows. | |||||||||||||
December 31, (in millions) | 2013 | 2012 | |||||||||||
U.S. offices | |||||||||||||
Noninterest-bearing | $ | 389,863 | $ | 380,320 | |||||||||
Interest-bearing | |||||||||||||
Demand(a) | 84,631 | 53,980 | |||||||||||
Savings(b) | 450,405 | 407,710 | |||||||||||
Time (included $5,995 and $5,140 at fair value)(c) | 91,356 | 90,416 | |||||||||||
Total interest-bearing deposits | 626,392 | 552,106 | |||||||||||
Total deposits in U.S. offices | 1,016,255 | 932,426 | |||||||||||
Non-U.S. offices | |||||||||||||
Noninterest-bearing | 17,611 | 17,845 | |||||||||||
Interest-bearing | |||||||||||||
Demand | 214,391 | 195,395 | |||||||||||
Savings | 1,083 | 1,004 | |||||||||||
Time (included $629 and $593 at fair value)(c) | 38,425 | 46,923 | |||||||||||
Total interest-bearing deposits | 253,899 | 243,322 | |||||||||||
Total deposits in non-U.S. offices | 271,510 | 261,167 | |||||||||||
Total deposits | $ | 1,287,765 | $ | 1,193,593 | |||||||||
(a) | Includes Negotiable Order of Withdrawal (“NOW”) accounts, and certain trust accounts. | ||||||||||||
(b) | Includes Money Market Deposit Accounts (“MMDAs”). | ||||||||||||
(c) | Includes structured notes classified as deposits for which the fair value option has been elected. For further discussion, see Note 4 on pages 215–218 of this Annual Report. | ||||||||||||
At December 31, 2013 and 2012, time deposits in denominations of $100,000 or more were as follows. | |||||||||||||
December 31, (in millions) | 2013 | 2012 | |||||||||||
U.S. offices | $ | 74,804 | $ | 70,008 | |||||||||
Non-U.S. offices | 38,412 | 46,890 | |||||||||||
Total | $ | 113,216 | $ | 116,898 | |||||||||
At December 31, 2013, the maturities of interest-bearing time deposits were as follows. | |||||||||||||
December 31, 2013 | |||||||||||||
(in millions) | U.S. | Non-U.S. | Total | ||||||||||
2014 | $ | 73,130 | $ | 37,394 | $ | 110,524 | |||||||
2015 | 5,395 | 361 | 5,756 | ||||||||||
2016 | 6,274 | 402 | 6,676 | ||||||||||
2017 | 1,387 | 55 | 1,442 | ||||||||||
2018 | 1,845 | 201 | 2,046 | ||||||||||
After 5 years | 3,325 | 12 | 3,337 | ||||||||||
Total | $ | 91,356 | $ | 38,425 | $ | 129,781 | |||||||
Accounts_Payable_and_Other_Lia
Accounts Payable and Other Liabilities | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Accounts Payable and Accrued Liabilities [Abstract] | ' | ||||||||
Accounts payable and other liabilities | ' | ||||||||
Accounts payable and other liabilities | |||||||||
Accounts payable and other liabilities consist of payables to customers; payables to brokers, dealers and clearing organizations; payables from failed securities purchases; income taxes payables; accrued expense, including interest-bearing liabilities; and all other liabilities, including litigation reserves and obligations to return securities received as collateral. | |||||||||
The following table details the components of accounts payable and other liabilities. | |||||||||
December 31, (in millions) | 2013 | 2012 | |||||||
Brokerage payables(a) | $ | 116,391 | $ | 108,398 | |||||
Accounts payable and other liabilities(b) | 78,100 | 86,842 | |||||||
Total | $ | 194,491 | $ | 195,240 | |||||
(a) | Includes payables to customers, brokers, dealers and clearing organizations, and securities fails. | ||||||||
(b) | Includes $25 million and $36 million accounted for at fair value at December 31, 2013 and 2012, respectively. |
Longterm_debt
Long-term debt | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||
Long-term debt | ' | ||||||||||||||||||||
Long-term debt | |||||||||||||||||||||
JPMorgan Chase issues long-term debt denominated in various currencies, although predominantly U.S. dollars, with both fixed and variable interest rates. Included in senior and subordinated debt below are various equity-linked or other indexed instruments, which the Firm has elected to measure at fair value. Changes in fair value are recorded in principal transactions revenue in the Consolidated Statements of Income. The following table is a summary of long-term debt carrying values (including unamortized original issue discount, valuation adjustments and fair value adjustments, where applicable) by remaining contractual maturity as of December 31, 2013. | |||||||||||||||||||||
By remaining maturity at | 2013 | 2012 | |||||||||||||||||||
December 31, | |||||||||||||||||||||
(in millions, except rates) | Under 1 year | 1-5 years | After 5 years | Total | Total | ||||||||||||||||
Parent company | |||||||||||||||||||||
Senior debt: | Fixed rate | $ | 11,100 | $ | 49,241 | $ | 40,733 | $ | 101,074 | $ | 99,716 | ||||||||||
Variable rate | 12,411 | 22,790 | 5,829 | 41,030 | 38,765 | ||||||||||||||||
Interest rates(a) | 0.38-6.25% | 0.35-7.25% | 0.19-6.40% | 0.19-7.25% | 0.26-7.25% | ||||||||||||||||
Subordinated debt: | Fixed rate | $ | 2,904 | $ | 4,966 | $ | 7,328 | $ | 15,198 | $ | 16,312 | ||||||||||
Variable rate | — | 4,557 | 9 | 4,566 | 3,440 | ||||||||||||||||
Interest rates(a) | 1.92-5.13% | 0.63-6.13% | 3.38-8.53% | 0.63-8.53% | 0.61-8.53% | ||||||||||||||||
Subtotal | $ | 26,415 | $ | 81,554 | $ | 53,899 | $ | 161,868 | $ | 158,233 | |||||||||||
Subsidiaries | |||||||||||||||||||||
Federal Home Loan Banks ("FHLB") advances: | Fixed rate | $ | 1,029 | $ | 2,022 | $ | 185 | $ | 3,236 | $ | 4,712 | ||||||||||
Variable rate | 11,050 | 39,590 | 8,000 | 58,640 | 37,333 | ||||||||||||||||
Interest rates(a) | 0.20-1.54% | 0.16-2.04% | 0.36-0.43% | 0.16-2.04% | 0.30-2.04% | ||||||||||||||||
Senior debt: | Fixed rate | $ | 347 | $ | 1,655 | $ | 3,426 | $ | 5,428 | $ | 6,761 | ||||||||||
Variable rate | 6,593 | 14,117 | 2,748 | 23,458 | 21,607 | ||||||||||||||||
Interest rates(a) | 0.12-3.75% | 0.21-8.00% | 7.28 | % | 0.12-8.00% | 0.16-7.28% | |||||||||||||||
Subordinated debt: | Fixed rate | $ | — | $ | 5,445 | $ | 1,841 | $ | 7,286 | $ | 7,513 | ||||||||||
Variable rate | — | 2,528 | — | 2,528 | 2,466 | ||||||||||||||||
Interest rates(a) | — | % | 0.57-6.00% | 4.38-8.25% | 0.57-8.25% | 0.64-8.25% | |||||||||||||||
Subtotal | $ | 19,019 | $ | 65,357 | $ | 16,200 | $ | 100,576 | $ | 80,392 | |||||||||||
Junior subordinated debt: | Fixed rate | $ | — | $ | — | $ | 2,176 | $ | 2,176 | $ | 7,131 | ||||||||||
Variable rate | — | — | 3,269 | 3,269 | 3,268 | ||||||||||||||||
Interest rates(a) | — | % | — | % | 0.74-8.75% | 0.74-8.75% | 0.81-8.75% | ||||||||||||||
Subtotal | $ | — | $ | — | $ | 5,445 | $ | 5,445 | $ | 10,399 | |||||||||||
Total long-term debt(b)(c)(d) | $ | 45,434 | $ | 146,911 | $ | 75,544 | $ | 267,889 | (f)(g) | $ | 249,024 | ||||||||||
Long-term beneficial interests: | |||||||||||||||||||||
Fixed rate | $ | 353 | $ | 7,537 | $ | 3,068 | $ | 10,958 | $ | 10,393 | |||||||||||
Variable rate | 3,438 | 13,056 | 4,378 | 20,872 | 24,579 | ||||||||||||||||
Interest rates | 0.19-5.63% | 0.19-5.35% | 0.04-15.93% | 0.04-15.93% | 0.23-13.91% | ||||||||||||||||
Total long-term beneficial interests(e) | $ | 3,791 | $ | 20,593 | $ | 7,446 | $ | 31,830 | $ | 34,972 | |||||||||||
(a) | The interest rates shown are the range of contractual rates in effect at year-end, including non-U.S. dollar fixed- and variable-rate issuances, which excludes the effects of the associated derivative instruments used in hedge accounting relationships, if applicable. The use of these derivative instruments modifies the Firm’s exposure to the contractual interest rates disclosed in the table above. Including the effects of the hedge accounting derivatives, the range of modified rates in effect at December 31, 2013, for total long-term debt was (0.18)% to 8.00%, versus the contractual range of 0.12% to 8.75% presented in the table above. The interest rate ranges shown exclude structured notes accounted for at fair value. | ||||||||||||||||||||
(b) | Included long-term debt of $68.4 billion and $48.0 billion secured by assets totaling $131.3 billion and $112.8 billion at December 31, 2013 and 2012, respectively. The amount of long-term debt secured by assets does not include amounts related to hybrid instruments. | ||||||||||||||||||||
(c) | Included $28.9 billion and $30.8 billion of long-term debt accounted for at fair value at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||
(d) | Included $2.7 billion and $1.6 billion of outstanding zero-coupon notes at December 31, 2013 and 2012, respectively. The aggregate principal amount of these notes at their respective maturities is $4.5 billion and $3.0 billion, respectively. | ||||||||||||||||||||
(e) | Included on the Consolidated Balance Sheets in beneficial interests issued by consolidated VIEs. Also included $2.0 billion and $1.2 billion of outstanding structured notes accounted for at fair value at December 31, 2013 and 2012, respectively. Excluded short-term commercial paper and other short-term beneficial interests of $17.8 billion and $28.2 billion at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||
(f) | At December 31, 2013, long-term debt in the aggregate of $24.6 billion was redeemable at the option of JPMorgan Chase, in whole or in part, prior to maturity, based on the terms specified in the respective notes. | ||||||||||||||||||||
(g) | The aggregate carrying values of debt that matures in each of the five years subsequent to 2013 is $45.4 billion in 2014, $43.3 billion in 2015, $36.3 billion in 2016, $32.5 billion in 2017 and $34.8 billion in 2018. | ||||||||||||||||||||
The weighted-average contractual interest rates for total long-term debt excluding structured notes accounted for at fair value were 2.56% and 3.09% as of December 31, 2013 and 2012, respectively. In order to modify exposure to interest rate and currency exchange rate movements, JPMorgan Chase utilizes derivative instruments, primarily interest rate and cross-currency interest rate swaps, in conjunction with some of its debt issues. The use of these instruments modifies the Firm’s interest expense on the associated debt. The modified weighted-average interest rates for total long-term debt, including the effects of related derivative instruments, were 1.54% and 2.33% as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||||
The Parent Company has guaranteed certain long-term debt of its subsidiaries, including both long-term debt and structured notes sold as part of the Firm’s market-making activities. These guarantees rank on parity with all of the Firm’s other unsecured and unsubordinated indebtedness. Guaranteed liabilities were $478 million and $1.7 billion at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||
The Firm’s unsecured debt does not contain requirements that would call for an acceleration of payments, maturities or changes in the structure of the existing debt, provide any limitations on future borrowings or require additional collateral, based on unfavorable changes in the Firm’s credit ratings, financial ratios, earnings or stock price. | |||||||||||||||||||||
Junior subordinated deferrable interest debentures held by trusts that issued guaranteed capital debt securities | |||||||||||||||||||||
On May 8, 2013, the Firm redeemed approximately $5.0 billion , or 100% of the liquidation amount, of the following eight series of guaranteed capital debt securities (“trust preferred securities”): JPMorgan Chase Capital X, XI, XII, XIV, XVI, XIX and XXIV, and BANK ONE Capital VI. Other income for the year ended December 31, 2013, reflected a modest loss related to the redemption of trust preferred securities. On July 12, 2012, the Firm redeemed $9.0 billion, or 100% of the liquidation amount, of the following nine series of trust preferred securities: JPMorgan Chase Capital XV, XVII, XVIII, XX, XXII, XXV, XXVI, XXVII and XXVIII. Other income for the year ended December 31, 2012, reflected $888 million of pretax extinguishment gains related to adjustments applied to the cost basis of the redeemed trust preferred securities during the period they were in a qualified hedge accounting relationship. | |||||||||||||||||||||
At December 31, 2013, the Firm had outstanding 9 wholly owned Delaware statutory business trusts (“issuer trusts”) that had issued guaranteed capital debt securities. | |||||||||||||||||||||
The junior subordinated deferrable interest debentures issued by the Firm to the issuer trusts, totaling $5.4 billion and $10.4 billion at December 31, 2013 and 2012, respectively, were reflected on the Firm’s Consolidated Balance Sheets in long-term debt, and in the table on the preceding page under the caption “Junior subordinated debt” (i.e., trust preferred securities). The Firm also records the common capital securities issued by the issuer trusts in other assets in its Consolidated Balance Sheets at December 31, 2013 and 2012. The debentures issued to the issuer trusts by the Firm, less the common capital securities of the issuer trusts, qualified as Tier 1 capital as of December 31, 2013 and 2012. | |||||||||||||||||||||
The following is a summary of the outstanding trust preferred securities, including unamortized original issue discount, issued by each trust, and the junior subordinated deferrable interest debenture issued to each trust, as of December 31, 2013. | |||||||||||||||||||||
31-Dec-13 | Amount of trust preferred securities issued by trust(a) | Principal amount of debenture issued to trust(b) | Issue date | Stated maturity of trust preferred securities and debentures | Earliest redemption date | Interest rate of trust preferred securities and debentures | Interest payment/distribution dates | ||||||||||||||
(in millions) | |||||||||||||||||||||
Bank One Capital III | $ | 474 | $ | 675 | 2000 | 2030 | Any time | 8.75% | Semiannually | ||||||||||||
Chase Capital II | 482 | 498 | 1997 | 2027 | Any time | LIBOR + 0.50% | Quarterly | ||||||||||||||
Chase Capital III | 296 | 305 | 1997 | 2027 | Any time | LIBOR + 0.55% | Quarterly | ||||||||||||||
Chase Capital VI | 241 | 249 | 1998 | 2028 | Any time | LIBOR + 0.625% | Quarterly | ||||||||||||||
First Chicago NBD Capital I | 249 | 257 | 1997 | 2027 | Any time | LIBOR + 0.55% | Quarterly | ||||||||||||||
JPMorgan Chase Capital XIII | 465 | 480 | 2004 | 2034 | 2014 | LIBOR + 0.95% | Quarterly | ||||||||||||||
JPMorgan Chase Capital XXI | 836 | 837 | 2007 | 2037 | Any time | LIBOR + 0.95% | Quarterly | ||||||||||||||
JPMorgan Chase Capital XXIII | 643 | 644 | 2007 | 2047 | Any time | LIBOR + 1.00% | Quarterly | ||||||||||||||
JPMorgan Chase Capital XXIX | 1,500 | 1,500 | 2010 | 2040 | 2015 | 6.70% | Quarterly | ||||||||||||||
Total | $ | 5,186 | $ | 5,445 | |||||||||||||||||
(a) | Represents the amount of trust preferred securities issued to the public by each trust, including unamortized original issue discount. | ||||||||||||||||||||
(b) | Represents the principal amount of JPMorgan Chase debentures issued to each trust, including unamortized original-issue discount. The principal amount of debentures issued to the trusts includes the impact of hedging and purchase accounting fair value adjustments that were recorded on the Firm’s Consolidated Financial Statements. |
Preferred_Stock
Preferred Stock (Preferred Stock [Member]) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Preferred Stock [Member] | ' | |||||||||||||||||||||
Class of Stock [Line Items] | ' | |||||||||||||||||||||
Preferred stock | ' | |||||||||||||||||||||
Preferred stock | ||||||||||||||||||||||
At December 31, 2013 and 2012, JPMorgan Chase was authorized to issue 200 million shares of preferred stock, in one or more series, with a par value of $1 per share. | ||||||||||||||||||||||
In the event of a liquidation or dissolution of the Firm, JPMorgan Chase’s preferred stock then outstanding takes precedence over the Firm’s common stock for the payment of dividends and the distribution of assets. | ||||||||||||||||||||||
The following is a summary of JPMorgan Chase’s preferred stock outstanding as of December 31, 2013 and 2012. | ||||||||||||||||||||||
Contractual rate in effect at | Shares at December 31,(a) | Carrying value (in millions) at December 31, | Earliest redemption date | Share value and redemption | ||||||||||||||||||
31-Dec-13 | 2013 | 2012 | 2013 | 2012 | price per share(b) | |||||||||||||||||
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I | 7.9 | % | 600,000 | 600,000 | $ | 6,000 | $ | 6,000 | 4/30/18 | $ | 10,000 | |||||||||||
8.625% Non-Cumulative Perpetual Preferred Stock, Series J | N/A | — | 180,000 | — | 1,800 | 9/1/13 | 10,000 | |||||||||||||||
5.50% Non-Cumulative Perpetual Preferred Stock, Series O | 5.5 | % | 125,750 | 125,750 | 1,258 | 1,258 | 9/1/17 | 10,000 | ||||||||||||||
5.45% Non-Cumulative Perpetual Preferred Stock, Series P | 5.45 | % | 90,000 | — | 900 | — | 3/1/18 | 10,000 | ||||||||||||||
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series Q | 5.15 | % | 150,000 | — | 1,500 | — | 5/1/23 | 10,000 | ||||||||||||||
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series R | 6 | % | 150,000 | — | 1,500 | — | 8/1/23 | 10,000 | ||||||||||||||
Total preferred stock | 1,115,750 | 905,750 | $ | 11,158 | $ | 9,058 | ||||||||||||||||
(a) | Represented by depositary shares. | |||||||||||||||||||||
(b) | The redemption price includes the amount shown in the table plus any accrued but unpaid dividends. | |||||||||||||||||||||
Dividends on the Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I shares are payable semiannually at a fixed annual dividend rate of 7.90% through April 2018, and then become payable quarterly at an annual dividend rate of three-month LIBOR plus 3.47%. Dividends on the 5.50% Non-Cumulative Preferred Stock, Series O and the 5.45% Non-Cumulative Preferred Stock, Series P are payable quarterly. Dividends on the Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series Q shares are payable semi-annually at a fixed annual rate of 5.15% through April 2023, and then become payable at a dividend rate of three-month LIBOR plus 3.25%. Dividends on the Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series R shares are payable semi-annually at a fixed annual dividend rate of 6.00% through July 2023, and then become payable at a dividend rate of three-month LIBOR plus 3.30%. | ||||||||||||||||||||||
The Series O Non-Cumulative Preferred Stock was issued in August 2012. Series P Non-Cumulative Preferred Stock was issued in February 2013; Series Q Fixed-to-Floating Non-Cumulative Preferred Stock was issued in April 2013; and Series R Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series R was issued in July 2013. | ||||||||||||||||||||||
On September 1, 2013, the Firm redeemed all of the outstanding shares of its 8.625% Non-Cumulative Preferred Stock, Series J at their stated redemption value. | ||||||||||||||||||||||
Redemption rights | ||||||||||||||||||||||
Each series of the Firm’s preferred stock may be redeemed on any dividend payment date on or after the earliest redemption date for that series. The Series O, Series P, Series Q and Series R preferred stock may also be redeemed following a capital treatment event, as described in the terms of that series. Any redemption of the Firm’s preferred stock is subject to non-objection from the Federal Reserve. | ||||||||||||||||||||||
Subsequent events | ||||||||||||||||||||||
Issuance of preferred stock | ||||||||||||||||||||||
On January 22, 2014, January 30, 2014, and February 6, 2014, the Firm issued $2.0 billion , $850 million, and $75 million, respectively, of noncumulative preferred stock. |
Common_stock
Common stock (Common Stock [Member]) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Common Stock [Member] | ' | ||||||||||||
Class of Stock [Line Items] | ' | ||||||||||||
Common stock | ' | ||||||||||||
Common stock | |||||||||||||
At December 31, 2013 and 2012, JPMorgan Chase was authorized to issue 9.0 billion shares of common stock with a par value of $1 per share. | |||||||||||||
Common shares issued (newly issued or distributed from treasury) by JPMorgan Chase during the years ended December 31, 2013, 2012 and 2011 were as follows. | |||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | ||||||||||
(in millions) | |||||||||||||
Total issued – balance at January 1 and December 31 | 4,104.90 | 4,104.90 | 4,104.90 | ||||||||||
Treasury – balance at January 1 | (300.9 | ) | (332.2 | ) | (194.6 | ) | |||||||
Purchase of treasury stock | (96.1 | ) | (33.5 | ) | (226.9 | ) | |||||||
Share repurchases related to employee stock-based awards(a) | — | (0.2 | ) | (0.1 | ) | ||||||||
Issued from treasury: | |||||||||||||
Employee benefits and compensation plans | 47.1 | 63.7 | 88.3 | ||||||||||
Employee stock purchase plans | 1.1 | 1.3 | 1.1 | ||||||||||
Total issued from treasury | 48.3 | 65 | 89.4 | ||||||||||
Total treasury – balance at December 31 | (348.8 | ) | (300.9 | ) | (332.2 | ) | |||||||
Outstanding | 3,756.10 | 3,804.00 | 3,772.70 | ||||||||||
(a) | Participants in the Firm’s stock-based incentive plans may have shares withheld to cover income taxes. | ||||||||||||
At December 31, 2013, 2012, and 2011, respectively, the Firm had 59.8 million, 59.8 million and 78.2 million warrants outstanding to purchase shares of common stock. The warrants were originally issued pursuant to the U.S. Treasury Capital Purchase Program in 2008, and are currently traded on the New York Stock Exchange. The warrants are exercisable, in whole or in part, at any time and from time to time until October 28, 2018, at an exercise price of $42.42 per share. The number of shares issuable upon the exercise of each warrant and the warrant exercise price is subject to adjustment upon the occurrence of certain events, including in the case of: stock splits, subdivisions, reclassifications or combinations of common stock; cash dividends or distributions to all holders of the Firm’s common stock of assets, rights or warrants (and with respect to cash dividends, only to the extent regular quarterly cash dividends exceed $0.38 per share (as adjusted for any stock split, reverse stock split, reclassification or similar transaction)); pro rata repurchases of common stock (as defined in the warrants) pursuant to an offer available to substantially all holders of common stock; and certain business combinations (as defined in the warrants) requiring the approval of the Firm’s stockholders or a reclassification of the Firm’s common stock. | |||||||||||||
On March 13, 2012, the Board of Directors authorized a $15.0 billion common equity (i.e., common stock and warrants) repurchase program. The amount of equity that may be repurchased is also subject to the amount that is set forth in the Firm’s annual capital plan that is submitted to the Federal Reserve as part of the CCAR process. The following table shows the Firm’s repurchases of common equity for the years ended December 31, 2013, 2012 and 2011, on a trade-date basis. As of December 31, 2013, $8.6 billion of authorized repurchase capacity remained under the program. | |||||||||||||
Year ended December 31, | |||||||||||||
(in millions) | 2013 | 2012 | 2011 | ||||||||||
Total number of shares of common stock repurchased | 96 | 31 | 229 | ||||||||||
Aggregate purchase price of common stock repurchases | $ | 4,789 | $ | 1,329 | $ | 8,827 | |||||||
Total number of warrants repurchased | — | 18 | 10 | ||||||||||
Aggregate purchase price of warrant repurchases | $ | — | $ | 238 | $ | 122 | |||||||
The Firm may, from time to time, enter into written trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934 to facilitate repurchases in accordance with the common equity repurchase program. A Rule 10b5-1 repurchase plan allows the Firm to repurchase its equity during periods when it would not otherwise be repurchasing common equity — for example, during internal trading “black-out periods.” All purchases under a Rule 10b5-1 plan must be made according to a predefined plan established when the Firm is not aware of material nonpublic information. For additional information regarding repurchases of the Firm’s equity securities, see Part II, Item 5: Market for registrant’s common equity, related stockholder matters and issuer purchases of equity securities, on pages 20–21 of JPMorgan Chase’s 2013 Form 10-K. | |||||||||||||
On March 18, 2011, the Board of Directors raised the Firm’s quarterly common stock dividend from $0.05 to $0.25 per share, effective with the dividend paid on April 30, 2011, to shareholders of record on April 6, 2011. On March 13, 2012, the Board of Directors increased the Firm’s quarterly common stock dividend from $0.25 to $0.30 per share, effective with the dividend paid on April 30, 2012, to shareholders of record on April 5, 2012. On May 21, 2013, the Board of Directors increased the Firm’s quarterly common stock dividend from $0.30 per share to $0.38 per share, effective with the dividend paid on July 31, 2013, to shareholders of record on July 5, 2013. | |||||||||||||
As of December 31, 2013, approximately 290 million unissued shares of common stock were reserved for issuance under various employee incentive, compensation, option and stock purchase plans, director compensation plans, and the warrants sold by the U.S. Treasury as discussed above. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Earnings Per Share [Abstract] | ' | |||||||||
Earnings per share | ' | |||||||||
Earnings per share | ||||||||||
Earnings per share (“EPS”) is calculated under the two-class method under which all earnings (distributed and undistributed) are allocated to each class of common stock and participating securities based on their respective rights to receive dividends. JPMorgan Chase grants restricted stock and RSUs to certain employees under its stock-based compensation programs, which entitle recipients to receive nonforfeitable dividends during the vesting period on a basis equivalent to the dividends paid to holders of common stock; these unvested awards meet the definition of participating securities. Options issued under employee benefit plans that have an antidilutive effect are excluded from the computation of diluted EPS. | ||||||||||
The following table presents the calculation of basic and diluted EPS for the years ended December 31, 2013, 2012 and 2011. | ||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||
(in millions, | ||||||||||
except per share amounts) | ||||||||||
Basic earnings per share | ||||||||||
Net income | $ | 17,923 | $ | 21,284 | $ | 18,976 | ||||
Less: Preferred stock dividends | 805 | 653 | 629 | |||||||
Net income applicable to common equity | 17,118 | 20,631 | 18,347 | |||||||
Less: Dividends and undistributed earnings allocated to participating securities | 525 | 754 | 779 | |||||||
Net income applicable to common stockholders | $ | 16,593 | $ | 19,877 | $ | 17,568 | ||||
Total weighted-average basic shares outstanding | 3,782.40 | 3,809.40 | 3,900.40 | |||||||
Net income per share | $ | 4.39 | $ | 5.22 | $ | 4.5 | ||||
Diluted earnings per share | ||||||||||
Net income applicable to common stockholders | $ | 16,593 | $ | 19,877 | $ | 17,568 | ||||
Total weighted-average basic shares outstanding | 3,782.40 | 3,809.40 | 3,900.40 | |||||||
Add: Employee stock options, SARs and warrants(a) | 32.5 | 12.8 | 19.9 | |||||||
Total weighted-average diluted shares outstanding(b) | 3,814.90 | 3,822.20 | 3,920.30 | |||||||
Net income per share | $ | 4.35 | $ | 5.2 | $ | 4.48 | ||||
(a) | Excluded from the computation of diluted EPS (due to the antidilutive effect) were options issued under employee benefit plans and the warrants originally issued in 2008 under the U.S. Treasury’s Capital Purchase Program to purchase shares of the Firm’s common stock. The aggregate number of shares issuable upon the exercise of such options and warrants was 6 million, 148 million and 133 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||
(b) | Participating securities were included in the calculation of diluted EPS using the two-class method, as this computation was more dilutive than the calculation using the treasury stock method. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income/(Loss) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Accumulated other comprehensive income/(loss) | ' | |||||||||||||||||||||||||||||||||||
Accumulated other comprehensive income/(loss) | ||||||||||||||||||||||||||||||||||||
AOCI includes the after-tax change in unrealized gains and losses on AFS securities, foreign currency translation adjustments (including the impact of related derivatives), cash flow hedging activities, and net loss and prior service costs/(credit) related to the Firm’s defined benefit pension and OPEB plans. | ||||||||||||||||||||||||||||||||||||
Year ended December 31, | Unrealized gains/(losses) on AFS securities(a) | Translation adjustments, net of hedges | Cash flow hedges | Defined benefit pension and OPEB plans | Accumulated other comprehensive income/(loss) | |||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||
Balance at December 31, 2010 | $ | 2,498 | $ | 253 | $ | 206 | $ | (1,956 | ) | $ | 1,001 | |||||||||||||||||||||||||
Net change | 1,067 | (b) | (279 | ) | (155 | ) | (690 | ) | (57 | ) | ||||||||||||||||||||||||||
Balance at December 31, 2011 | $ | 3,565 | (c) | $ | (26 | ) | $ | 51 | $ | (2,646 | ) | $ | 944 | |||||||||||||||||||||||
Net change | 3,303 | (d) | (69 | ) | 69 | (145 | ) | 3,158 | ||||||||||||||||||||||||||||
Balance at December 31, 2012 | $ | 6,868 | (c) | $ | (95 | ) | $ | 120 | $ | (2,791 | ) | $ | 4,102 | |||||||||||||||||||||||
Net change | (4,070 | ) | (e) | (41 | ) | (259 | ) | 1,467 | (2,903 | ) | ||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 2,798 | (c) | $ | (136 | ) | $ | (139 | ) | $ | (1,324 | ) | $ | 1,199 | ||||||||||||||||||||||
(a) | Represents the after-tax difference between the fair value and amortized cost of securities accounted for as AFS. | |||||||||||||||||||||||||||||||||||
(b) | The net change for 2011 was due primarily to increased market value on U.S. government agency issued MBS and obligations of U.S. states and municipalities, partially offset by the widening of spreads on non-U.S. corporate debt and the realization of gains due to portfolio repositioning. | |||||||||||||||||||||||||||||||||||
(c) | Included after-tax unrealized losses not related to credit on debt securities for which credit losses have been recognized in income of $(56) million at December 31, 2011. There were no such losses at December 31, 2012 and 2013. | |||||||||||||||||||||||||||||||||||
(d) | The net change for 2012 was predominantly driven by increased market value on non-U.S. residential MBS, corporate debt securities and obligations of U.S. states and municipalities, partially offset by realized gains. | |||||||||||||||||||||||||||||||||||
(e) | The net change for 2013 was primarily related to the decline in fair value of U.S. government agency issued MBS and obligations of U.S. states and municipalities due to market changes, as well as net realized gains. | |||||||||||||||||||||||||||||||||||
The following table presents the before- and after-tax changes in the components of other comprehensive income/(loss). | ||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||
Year ended December 31, (in millions) | Pretax | Tax effect | After-tax | Pretax | Tax effect | After-tax | Pretax | Tax effect | After-tax | |||||||||||||||||||||||||||
Unrealized gains/(losses) on AFS securities: | ||||||||||||||||||||||||||||||||||||
Net unrealized gains/(losses) arising during the period | $ | (5,987 | ) | $ | 2,323 | $ | (3,664 | ) | $ | 7,521 | $ | (2,930 | ) | $ | 4,591 | $ | 3,361 | $ | (1,322 | ) | $ | 2,039 | ||||||||||||||
Reclassification adjustment for realized (gains)/losses included in net income(a) | (667 | ) | 261 | (406 | ) | (2,110 | ) | 822 | (1,288 | ) | (1,593 | ) | 621 | (972 | ) | |||||||||||||||||||||
Net change | (6,654 | ) | 2,584 | (4,070 | ) | 5,411 | (2,108 | ) | 3,303 | 1,768 | (701 | ) | 1,067 | |||||||||||||||||||||||
Translation adjustments: | ||||||||||||||||||||||||||||||||||||
Translation(b) | (807 | ) | 295 | (512 | ) | (26 | ) | 8 | (18 | ) | (672 | ) | 255 | (417 | ) | |||||||||||||||||||||
Hedges(b) | 773 | (302 | ) | 471 | (82 | ) | 31 | (51 | ) | 226 | (88 | ) | 138 | |||||||||||||||||||||||
Net change | (34 | ) | (7 | ) | (41 | ) | (108 | ) | 39 | (69 | ) | (446 | ) | 167 | (279 | ) | ||||||||||||||||||||
Cash flow hedges: | ||||||||||||||||||||||||||||||||||||
Net unrealized gains/(losses) arising during the period | (525 | ) | 206 | (319 | ) | 141 | (55 | ) | 86 | 50 | (19 | ) | 31 | |||||||||||||||||||||||
Reclassification adjustment for realized (gains)/losses included in net income(c) | 101 | (41 | ) | 60 | (28 | ) | 11 | (17 | ) | (301 | ) | 115 | (186 | ) | ||||||||||||||||||||||
Net change | (424 | ) | 165 | (259 | ) | 113 | (44 | ) | 69 | (251 | ) | 96 | (155 | ) | ||||||||||||||||||||||
Defined benefit pension and OPEB plans: | ||||||||||||||||||||||||||||||||||||
Prior service credits arising during the period | — | — | — | 6 | (2 | ) | 4 | — | — | — | ||||||||||||||||||||||||||
Net gains/(losses) arising during the period | 2,055 | (750 | ) | 1,305 | (537 | ) | 228 | (309 | ) | (1,290 | ) | 502 | (788 | ) | ||||||||||||||||||||||
Reclassification adjustments included in net income(d): | — | |||||||||||||||||||||||||||||||||||
Amortization of net loss | 321 | (124 | ) | 197 | 324 | (126 | ) | 198 | 214 | (83 | ) | 131 | ||||||||||||||||||||||||
Prior service costs/(credits) | (43 | ) | 17 | (26 | ) | (41 | ) | 16 | (25 | ) | (52 | ) | 20 | (32 | ) | |||||||||||||||||||||
Foreign exchange and other | (14 | ) | 5 | (9 | ) | (21 | ) | 8 | (13 | ) | (1 | ) | — | (1 | ) | |||||||||||||||||||||
Net change | 2,319 | (852 | ) | 1,467 | (269 | ) | 124 | (145 | ) | (1,129 | ) | 439 | (690 | ) | ||||||||||||||||||||||
Total other comprehensive income/(loss) | $ | (4,793 | ) | $ | 1,890 | $ | (2,903 | ) | $ | 5,147 | $ | (1,989 | ) | $ | 3,158 | $ | (58 | ) | $ | 1 | $ | (57 | ) | |||||||||||||
(a) | The pretax amount is reported in securities gains in the Consolidated Statements of Income. | |||||||||||||||||||||||||||||||||||
(b) | Reclassifications of pretax realized gains/(losses) on translation adjustments and related hedges are reported in other income in the Consolidated Statements of Income. The amounts were not material for the year ended December 31, 2013. | |||||||||||||||||||||||||||||||||||
(c) | The pretax amount is reported in the same line as the hedged items, which are predominantly recorded in net interest income in the Consolidated Statements of Income. | |||||||||||||||||||||||||||||||||||
(d) | The pretax amount is reported in compensation expense in the Consolidated Statements of Income. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income taxes | ' | ||||||||||||
Income taxes | |||||||||||||
JPMorgan Chase and its eligible subsidiaries file a consolidated U.S. federal income tax return. JPMorgan Chase uses the asset and liability method to provide income taxes on all transactions recorded in the Consolidated Financial Statements. This method requires that income taxes reflect the expected future tax consequences of temporary differences between the carrying amounts of assets or liabilities for book and tax purposes. Accordingly, a deferred tax asset or liability for each temporary difference is determined based on the tax rates that the Firm expects to be in effect when the underlying items of income and expense are realized. JPMorgan Chase’s expense for income taxes includes the current and deferred portions of that expense. A valuation allowance is established to reduce deferred tax assets to the amount the Firm expects to realize. | |||||||||||||
Due to the inherent complexities arising from the nature of the Firm’s businesses, and from conducting business and being taxed in a substantial number of jurisdictions, significant judgments and estimates are required to be made. Agreement of tax liabilities between JPMorgan Chase and the many tax jurisdictions in which the Firm files tax returns may not be finalized for several years. Thus, the Firm’s final tax-related assets and liabilities may ultimately be different from those currently reported. | |||||||||||||
A reconciliation of the applicable statutory U.S. income tax rate to the effective tax rate for each of the years ended December 31, 2013, 2012 and 2011, is presented in the following table. | |||||||||||||
Effective tax rate | |||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | ||||||||||
Statutory U.S. federal tax rate | 35 | % | 35 | % | 35 | % | |||||||
Increase/(decrease) in tax rate resulting from: | |||||||||||||
U.S. state and local income taxes, net of U.S. federal income tax benefit | 2.2 | 1.6 | 1.6 | ||||||||||
Tax-exempt income | (3.1 | ) | (2.9 | ) | (2.1 | ) | |||||||
Non-U.S. subsidiary earnings(a) | (4.9 | ) | (2.4 | ) | (2.3 | ) | |||||||
Business tax credits | (5.4 | ) | (4.2 | ) | (4.0 | ) | |||||||
Nondeductible legal expense(b) | 8 | (0.2 | ) | 0.9 | |||||||||
Other, net | (1.0 | ) | (0.5 | ) | — | ||||||||
Effective tax rate | 30.8 | % | 26.4 | % | 29.1 | % | |||||||
(a) | Includes earnings deemed to be reinvested indefinitely in non-U.S. subsidiaries. | ||||||||||||
(b) | The prior periods have been revised to conform with the current presentation. | ||||||||||||
The components of income tax expense/(benefit) included in the Consolidated Statements of Income were as follows for each of the years ended December 31, 2013, 2012, and 2011. | |||||||||||||
Income tax expense/(benefit) | |||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | ||||||||||
(in millions) | |||||||||||||
Current income tax expense/(benefit) | |||||||||||||
U.S. federal | $ | (1,316 | ) | $ | 3,225 | $ | 3,719 | ||||||
Non-U.S. | 1,308 | 1,782 | 1,183 | ||||||||||
U.S. state and local | (4 | ) | 1,496 | 1,178 | |||||||||
Total current income tax expense/(benefit) | (12 | ) | 6,503 | 6,080 | |||||||||
Deferred income tax expense/(benefit) | |||||||||||||
U.S. federal | 7,080 | 2,238 | 2,109 | ||||||||||
Non-U.S. | 10 | (327 | ) | 102 | |||||||||
U.S. state and local | 913 | (781 | ) | (518 | ) | ||||||||
Total deferred income tax expense/(benefit) | 8,003 | 1,130 | 1,693 | ||||||||||
Total income tax expense | $ | 7,991 | $ | 7,633 | $ | 7,773 | |||||||
Total income tax expense was $8.0 billion in 2013 with an effective tax rate of 30.8%. The relationship between current and deferred income tax expense is largely driven by the reversal of significant deferred tax assets as well as prior year tax adjustments and audit resolutions. Total income tax expense includes $531 million, $200 million and $76 million of tax benefits recorded in 2013, 2012, and 2011, respectively, as a result of tax audit resolutions. | |||||||||||||
The preceding table does not reflect the tax effect of certain items that are recorded each period directly in stockholders’ equity and certain tax benefits associated with the Firm’s employee stock-based compensation plans. The tax effect of all items recorded directly to stockholders’ equity resulted in an increase of $2.1 billion in 2013, a decrease of $1.9 billion in 2012, and an increase of $927 million in 2011. | |||||||||||||
U.S. federal income taxes have not been provided on the undistributed earnings of certain non-U.S. subsidiaries, to the extent that such earnings have been reinvested abroad for an indefinite period of time. Based on JPMorgan Chase’s ongoing review of the business requirements and capital needs of its non-U.S. subsidiaries, combined with the formation of specific strategies and steps taken to fulfill these requirements and needs, the Firm has determined that the undistributed earnings of certain of its subsidiaries would be indefinitely reinvested to fund current and future growth of the related businesses. As management does not intend to use the earnings of these subsidiaries as a source of funding for its U.S. operations, such earnings will not be distributed to the U.S. in the foreseeable future. For 2013, pretax earnings of approximately $3.4 billion were generated and will be indefinitely reinvested in these subsidiaries. At December 31, 2013, the cumulative amount of undistributed pretax earnings in these subsidiaries approximated $28.5 billion. If the Firm were to record a deferred tax liability associated with these undistributed earnings, the amount would be approximately $6.4 billion at December 31, 2013. | |||||||||||||
Tax expense applicable to securities gains and losses for the years 2013, 2012 and 2011 was $261 million, $822 million, and $617 million, respectively. | |||||||||||||
Deferred income tax expense/(benefit) results from differences between assets and liabilities measured for financial reporting purposes versus income tax return purposes. Deferred tax assets are recognized if, in management’s judgment, their realizability is determined to be more likely than not. If a deferred tax asset is determined to be unrealizable, a valuation allowance is established. The significant components of deferred tax assets and liabilities are reflected in the following table as of December 31, 2013 and 2012. | |||||||||||||
Deferred taxes | |||||||||||||
December 31, (in millions) | 2013 | 2012 | |||||||||||
Deferred tax assets | |||||||||||||
Allowance for loan losses | $ | 6,593 | $ | 8,712 | |||||||||
Employee benefits | 4,468 | 4,308 | |||||||||||
Accrued expenses and other | 9,179 | 12,393 | |||||||||||
Non-U.S. operations | 5,493 | 3,537 | |||||||||||
Tax attribute carryforwards | 748 | 1,062 | |||||||||||
Gross deferred tax assets | 26,481 | 30,012 | |||||||||||
Valuation allowance | (724 | ) | (689 | ) | |||||||||
Deferred tax assets, net of valuation allowance | $ | 25,757 | $ | 29,323 | |||||||||
Deferred tax liabilities | |||||||||||||
Depreciation and amortization | $ | 3,196 | $ | 2,563 | |||||||||
Mortgage servicing rights, net of hedges | 5,882 | 5,336 | |||||||||||
Leasing transactions | 2,352 | 2,242 | |||||||||||
Non-U.S. operations | 4,705 | 3,582 | |||||||||||
Other, net | 3,459 | 4,340 | |||||||||||
Gross deferred tax liabilities | 19,594 | 18,063 | |||||||||||
Net deferred tax assets | $ | 6,163 | $ | 11,260 | |||||||||
JPMorgan Chase has recorded deferred tax assets of $748 million at December 31, 2013, in connection with U.S. federal and state and local net operating loss carryforwards and foreign tax credit carryforwards. At December 31, 2013, the U.S. federal net operating loss carryforwards were approximately $1.5 billion; the state and local net operating loss carryforward was approximately $156 million; and the U.S. foreign tax credit carryforward was approximately $203 million. If not utilized, the U.S. federal net operating loss carryforwards and the state and local net operating loss carryforward will expire between 2027 and 2030; and the U.S. foreign tax credit carryforward will expire in 2022. | |||||||||||||
The valuation allowance at December 31, 2013, was due to losses associated with non-U.S. subsidiaries. | |||||||||||||
At December 31, 2013, 2012 and 2011, JPMorgan Chase’s unrecognized tax benefits, excluding related interest expense and penalties, were $5.5 billion, $7.2 billion and $7.2 billion, respectively, of which $3.7 billion, $4.2 billion and $4.0 billion, respectively, if recognized, would reduce the annual effective tax rate. Included in the amount of unrecognized tax benefits are certain items that would not affect the effective tax rate if they were recognized in the Consolidated Statements of Income. These unrecognized items include the tax effect of certain temporary differences, the portion of gross state and local unrecognized tax benefits that would be offset by the benefit from associated U.S. federal income tax deductions, and the portion of gross non-U.S. unrecognized tax benefits that would have offsets in other jurisdictions. JPMorgan Chase is presently under audit by a number of taxing authorities, most notably by the Internal Revenue Service, New York State and City, and the State of California as summarized in the Tax examination status table below. Based upon the status of all of the tax examinations currently in process, it is reasonably possible that over the next 12 months the resolution of some of these examinations could result in a significant reduction in the gross balance of unrecognized tax benefits; however, at this time, it is not possible to reasonably estimate the amount of the reduction, if any. | |||||||||||||
The following table presents a reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||
Unrecognized tax benefits | |||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | ||||||||||
(in millions) | |||||||||||||
Balance at January 1, | $ | 7,158 | $ | 7,189 | $ | 7,767 | |||||||
Increases based on tax positions related to the current period | 542 | 680 | 516 | ||||||||||
Decreases based on tax positions related to the current period | — | — | (110 | ) | |||||||||
Increases based on tax positions related to prior periods | 88 | 234 | 496 | ||||||||||
Decreases based on tax positions related to prior periods | (2,200 | ) | (853 | ) | (1,433 | ) | |||||||
Decreases related to settlements with taxing authorities | (53 | ) | (50 | ) | (16 | ) | |||||||
Decreases related to a lapse of applicable statute of limitations | — | (42 | ) | (31 | ) | ||||||||
Balance at December 31, | $ | 5,535 | $ | 7,158 | $ | 7,189 | |||||||
After-tax interest (benefit)/expense and penalties related to income tax liabilities recognized in income tax expense were $(184) million, $147 million and $184 million in 2013, 2012 and 2011, respectively. | |||||||||||||
At December 31, 2013 and 2012, in addition to the liability for unrecognized tax benefits, the Firm had accrued $1.2 billion and $1.9 billion, respectively, for income tax-related interest and penalties. | |||||||||||||
JPMorgan Chase is continually under examination by the Internal Revenue Service, by taxing authorities throughout the world, and by many states throughout the U.S. The following table summarizes the status of significant income tax examinations of JPMorgan Chase and its consolidated subsidiaries as of December 31, 2013. | |||||||||||||
Tax examination status | |||||||||||||
31-Dec-13 | Periods under examination | Status | |||||||||||
JPMorgan Chase – U.S. | 2003 - 2005 | Field examination completed, JPMorgan Chase intends to appeal | |||||||||||
JPMorgan Chase – U.S. | 2006 - 2010 | Field examination | |||||||||||
Bear Stearns – U.S. | 2003 – 2005 | Refund claims under review | |||||||||||
Bear Stearns – U.S. | 2006 – 2008 | Field examination | |||||||||||
JPMorgan Chase – United Kingdom | 2006 – 2011 | Field examination | |||||||||||
JPMorgan Chase – New York State and City | 2005 – 2007 | Field examination | |||||||||||
JPMorgan Chase – California | 2006 – 2010 | Field examination | |||||||||||
The following table presents the U.S. and non-U.S. components of income before income tax expense for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||
Income before income tax expense - U.S. and non-U.S. | |||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | ||||||||||
(in millions) | |||||||||||||
U.S. | $ | 17,229 | $ | 24,895 | $ | 16,336 | |||||||
Non-U.S.(a) | 8,685 | 4,022 | 10,413 | ||||||||||
Income before income tax expense | $ | 25,914 | $ | 28,917 | $ | 26,749 | |||||||
(a) | For purposes of this table, non-U.S. income is defined as income generated from operations located outside the U.S. |
Restrictions_on_Cash_and_Inter
Restrictions on Cash and Intercompany Funds Transfers | 12 Months Ended |
Dec. 31, 2013 | |
Restrictions on Cash and Intercompany Funds Transfers Disclosure [Abstract] | ' |
Restrictions on cash and intercompany funds transfers | ' |
Restrictions on cash and intercompany funds transfers | |
The business of JPMorgan Chase Bank, National Association (“JPMorgan Chase Bank, N.A.”) is subject to examination and regulation by the OCC. The Bank is a member of the U.S. Federal Reserve System, and its deposits in the U.S. are insured by the FDIC. | |
The Federal Reserve requires depository institutions to maintain cash reserves with a Federal Reserve Bank. The average amount of reserve balances deposited by the Firm’s bank subsidiaries with various Federal Reserve Banks was approximately $5.3 billion and $5.6 billion in 2013 and 2012, respectively. | |
Restrictions imposed by U.S. federal law prohibit JPMorgan Chase and certain of its affiliates from borrowing from banking subsidiaries unless the loans are secured in specified amounts. Such secured loans to the Firm or to other affiliates are generally limited to 10% of the banking subsidiary’s total capital, as determined by the risk-based capital guidelines; the aggregate amount of all such loans is limited to 20% of the banking subsidiary’s total capital. | |
The principal sources of JPMorgan Chase’s income (on a parent company-only basis) are dividends and interest from JPMorgan Chase Bank, N.A., and the other banking and nonbanking subsidiaries of JPMorgan Chase. In addition to dividend restrictions set forth in statutes and regulations, the Federal Reserve, the OCC and the FDIC have authority under the Financial Institutions Supervisory Act to prohibit or to limit the payment of dividends by the banking organizations they supervise, including JPMorgan Chase and its subsidiaries that are banks or bank holding companies, if, in the banking regulator’s opinion, payment of a dividend would constitute an unsafe or unsound practice in light of the financial condition of the banking organization. | |
At January 1, 2014, JPMorgan Chase’s banking subsidiaries could pay, in the aggregate, $29.8 billion in dividends to their respective bank holding companies without the prior approval of their relevant banking regulators. The capacity to pay dividends in 2014 will be supplemented by the banking subsidiaries’ earnings during the year. | |
In compliance with rules and regulations established by U.S. and non-U.S. regulators, as of December 31, 2013 and 2012, cash in the amount of $17.2 billion and $25.1 billion, respectively, and securities with a fair value of $1.5 billion and $0.7 billion, respectively, were segregated in special bank accounts for the benefit of securities and futures brokerage customers. In addition, as of December 31, 2013 and 2012, the Firm had other restricted cash of $3.9 billion and $3.4 billion, respectively, primarily representing cash reserves held at non-U.S. central banks and held for other general purposes. |
Regulatory_Capital
Regulatory Capital | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||
Banking and Thrift [Abstract] | ' | ||||||||||||||||||||||||||||||
Regulatory capital | ' | ||||||||||||||||||||||||||||||
Regulatory capital | |||||||||||||||||||||||||||||||
The Federal Reserve establishes capital requirements, including well-capitalized standards, for the consolidated financial holding company. The OCC establishes similar capital requirements and standards for the Firm’s national banks, including JPMorgan Chase Bank, N.A., and Chase Bank USA, N.A. | |||||||||||||||||||||||||||||||
There are two categories of risk-based capital: Tier 1 capital and Tier 2 capital. Tier 1 capital consists of common stockholders’ equity, perpetual preferred stock, noncontrolling interests in subsidiaries and trust preferred securities, less goodwill and certain other adjustments. Tier 2 capital consists of preferred stock not qualifying as Tier 1 capital, subordinated long-term debt and other instruments qualifying as Tier 2 capital, and the aggregate allowance for credit losses up to a certain percentage of risk-weighted assets. Total capital is Tier 1 capital plus Tier 2 capital. Under the risk-based capital guidelines of the Federal Reserve, JPMorgan Chase is required to maintain minimum ratios of Tier 1 and Total capital to risk-weighted assets, as well as minimum leverage ratios (which are defined as Tier 1 capital divided by adjusted quarterly average assets). Failure to meet these minimum requirements could cause the Federal Reserve to take action. Banking subsidiaries also are subject to these capital requirements by their respective primary regulators. As of December 31, 2013 and 2012, JPMorgan Chase and all of its banking subsidiaries were well-capitalized and met all capital requirements to which each was subject. | |||||||||||||||||||||||||||||||
The following table presents the regulatory capital, assets and risk-based capital ratios for JPMorgan Chase and its significant banking subsidiaries at December 31, 2013 and 2012. These amounts are determined in accordance with regulations issued by the Federal Reserve and/or OCC. The table reflects the Firm’s and JPMorgan Chase Bank, N.A.’s implementation of rules that provide for additional capital requirements for trading positions and securitizations (“Basel 2.5”). Basel 2.5 rules became effective for the Firm and JPMorgan Chase Bank, N.A. on January 1, 2013. The implementation of these rules in the first quarter of 2013 resulted in an increase of approximately $150 billion and $140 billion, respectively, in the Firm’s and JPMorgan Chase Bank, N.A.’s risk-weighted assets compared with the Basel I rules at March 31, 2013. The implementation of these rules also resulted in decreases of the Firm’s Tier 1 capital and Total capital ratios of 140 basis points and 160 basis points, respectively, at March 31, 2013, and decreases of JPMorgan Chase Bank, N.A.’s Tier 1 capital and Total capital ratios of 130 basis points and 150 basis points, respectively, at March 31, 2013. Implementation of Basel 2.5 in the first quarter of 2013 did not impact Chase Bank USA, N.A.’s RWA or Tier 1 capital and Total capital ratios. | |||||||||||||||||||||||||||||||
December 31, | JPMorgan Chase & Co.(d) | JPMorgan Chase Bank, N.A.(d) | Chase Bank USA, N.A.(d) | Well-capitalized ratios(e) | Minimum capital ratios(e) | ||||||||||||||||||||||||||
(in millions, except ratios) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Regulatory capital | |||||||||||||||||||||||||||||||
Tier 1(a) | $ | 165,663 | $ | 160,002 | $ | 139,727 | $ | 111,827 | $ | 12,956 | $ | 9,648 | |||||||||||||||||||
Total | 199,286 | 194,036 | 165,496 | 146,870 | 16,389 | 13,131 | |||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||
Risk-weighted(b) | $ | 1,387,863 | $ | 1,270,378 | $ | 1,171,574 | $ | 1,094,155 | $ | 100,990 | $ | 103,593 | |||||||||||||||||||
Adjusted average(c) | 2,343,713 | 2,243,242 | 1,900,770 | 1,815,816 | 109,731 | 103,688 | |||||||||||||||||||||||||
Capital ratios | |||||||||||||||||||||||||||||||
Tier 1(a) | 11.9 | % | 12.6 | % | 11.9 | % | 10.2 | % | 12.8 | % | 9.3 | % | 6 | % | 4 | % | |||||||||||||||
Total | 14.4 | 15.3 | 14.1 | 13.4 | 16.2 | 12.7 | 10 | 8 | |||||||||||||||||||||||
Tier 1 leverage | 7.1 | 7.1 | 7.4 | 6.2 | 11.8 | 9.3 | 5 | (f) | 3 | (g) | |||||||||||||||||||||
(a) | At December 31, 2013, for JPMorgan Chase and JPMorgan Chase Bank, N.A., trust preferred securities were $5.3 billion and $600 million, respectively. If these securities were excluded from the calculation at December 31, 2013, Tier 1 capital would be $160.4 billion and $139.1 billion, respectively, and the Tier 1 capital ratio would be 11.6% and 11.9%, respectively. At December 31, 2013, Chase Bank USA, N.A. had no trust preferred securities. | ||||||||||||||||||||||||||||||
(b) | Included off–balance sheet risk-weighted assets at December 31, 2013, of $315.9 billion, $304.0 billion and $14 million, and at December 31, 2012, of $304.5 billion, $297.1 billion and $16 million, for JPMorgan Chase, JPMorgan Chase Bank, N.A. and Chase Bank USA, N.A., respectively. | ||||||||||||||||||||||||||||||
(c) | Adjusted average assets, for purposes of calculating the leverage ratio, included total quarterly average assets adjusted for unrealized gains/(losses) on securities, less deductions for disallowed goodwill and other intangible assets, investments in certain subsidiaries, and the total adjusted carrying value of nonfinancial equity investments that are subject to deductions from Tier 1 capital. | ||||||||||||||||||||||||||||||
(d) | Asset and capital amounts for JPMorgan Chase’s banking subsidiaries reflect intercompany transactions; whereas the respective amounts for JPMorgan Chase reflect the elimination of intercompany transactions. | ||||||||||||||||||||||||||||||
(e) | As defined by the regulations issued by the Federal Reserve, OCC and FDIC. | ||||||||||||||||||||||||||||||
(f) | Represents requirements for banking subsidiaries pursuant to regulations issued under the FDIC Improvement Act. There is no Tier 1 leverage component in the definition of a well-capitalized bank holding company. | ||||||||||||||||||||||||||||||
(g) | The minimum Tier 1 leverage ratio for bank holding companies and banks is 3% or 4%, depending on factors specified in regulations issued by the Federal Reserve and OCC. | ||||||||||||||||||||||||||||||
Note: | Rating agencies allow measures of capital to be adjusted upward for deferred tax liabilities, which have resulted from both nontaxable business combinations and from tax-deductible goodwill. The Firm had deferred tax liabilities resulting from nontaxable business combinations totaling $192 million and $291 million at December 31, 2013 and 2012, respectively; and deferred tax liabilities resulting from tax-deductible goodwill of $2.8 billion and $2.5 billion at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||
A reconciliation of the Firm’s Total stockholders’ equity to Tier 1 capital and Total qualifying capital is presented in the table below. | |||||||||||||||||||||||||||||||
December 31, (in millions) | 2013 | 2012 | |||||||||||||||||||||||||||||
Tier 1 capital | |||||||||||||||||||||||||||||||
Total stockholders’ equity | $ | 211,178 | $ | 204,069 | |||||||||||||||||||||||||||
Effect of certain items in AOCI excluded from Tier 1 capital | (1,337 | ) | (4,198 | ) | |||||||||||||||||||||||||||
Qualifying hybrid securities and noncontrolling interests(a) | 5,618 | 10,608 | |||||||||||||||||||||||||||||
Less: Goodwill(b) | 45,320 | 45,663 | |||||||||||||||||||||||||||||
Other intangible assets(b) | 2,012 | 2,311 | |||||||||||||||||||||||||||||
Fair value DVA on structured notes and derivative liabilities related to the Firm’s credit quality | 1,300 | 1,577 | |||||||||||||||||||||||||||||
Investments in certain subsidiaries and other | 1,164 | 926 | |||||||||||||||||||||||||||||
Total Tier 1 capital | 165,663 | 160,002 | |||||||||||||||||||||||||||||
Tier 2 capital | |||||||||||||||||||||||||||||||
Long-term debt and other instruments qualifying as Tier 2 | 16,695 | 18,061 | |||||||||||||||||||||||||||||
Qualifying allowance for credit losses | 16,969 | 15,995 | |||||||||||||||||||||||||||||
Other | (41 | ) | (22 | ) | |||||||||||||||||||||||||||
Total Tier 2 capital | 33,623 | 34,034 | |||||||||||||||||||||||||||||
Total qualifying capital | $ | 199,286 | $ | 194,036 | |||||||||||||||||||||||||||
(a) | Primarily includes trust preferred securities of certain business trusts. | ||||||||||||||||||||||||||||||
(b) | Goodwill and other intangible assets are net of any associated deferred tax liabilities. |
OffBalance_Sheet_LendingRelate
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments [Abstract] | ' | ||||||||||||||||||||||||||
Off-balance sheet lending-related financial instruments, guarantees, and other commitments | ' | ||||||||||||||||||||||||||
Off–balance sheet lending-related financial instruments, guarantees, and other commitments | |||||||||||||||||||||||||||
JPMorgan Chase provides lending-related financial instruments (e.g., commitments and guarantees) to meet the financing needs of its customers. The contractual amount of these financial instruments represents the maximum possible credit risk to the Firm should the counterparty draw upon the commitment or the Firm be required to fulfill its obligation under the guarantee, and should the counterparty subsequently fail to perform according to the terms of the contract. Most of these commitments and guarantees expire without being drawn or a default occurring. As a result, the total contractual amount of these instruments is not, in the Firm’s view, representative of its actual future credit exposure or funding requirements. | |||||||||||||||||||||||||||
To provide for probable credit losses inherent in consumer (excluding credit card) and wholesale lending commitments, an allowance for credit losses on lending-related commitments is maintained. See Note 15 on pages 284–287 of this Annual Report for further discussion regarding the allowance for credit losses on lending-related commitments. The following table summarizes the contractual amounts and carrying values of off-balance sheet lending-related financial instruments, guarantees and other commitments at December 31, 2013 and 2012. The amounts in the table below for credit card and home equity lending-related commitments represent the total available credit for these products. The Firm has not experienced, and does not anticipate, that all available lines of credit for these products will be utilized at the same time. The Firm can reduce or cancel credit card lines of credit by providing the borrower notice or, in some cases, without notice as permitted by law. The Firm may reduce or close home equity lines of credit when there are significant decreases in the value of the underlying property, or when there has been a demonstrable decline in the creditworthiness of the borrower. Also, the Firm typically closes credit card lines when the borrower is 60 days or more past due. | |||||||||||||||||||||||||||
Off–balance sheet lending-related financial instruments, guarantees and other commitments | |||||||||||||||||||||||||||
Contractual amount | Carrying value(g) | ||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||
By remaining maturity at December 31, | Expires in 1 year or less | Expires after | Expires after | Expires after 5 years | Total | Total | |||||||||||||||||||||
(in millions) | 1 year through | 3 years through | |||||||||||||||||||||||||
3 years | 5 years | ||||||||||||||||||||||||||
Lending-related | |||||||||||||||||||||||||||
Consumer, excluding credit card: | |||||||||||||||||||||||||||
Home equity – senior lien | $ | 2,471 | $ | 4,411 | $ | 4,202 | $ | 2,074 | $ | 13,158 | $ | 15,180 | $ | — | $ | — | |||||||||||
Home equity – junior lien | 3,918 | 6,908 | 4,865 | 2,146 | 17,837 | 21,796 | — | — | |||||||||||||||||||
Prime mortgage | 4,817 | — | — | — | 4,817 | 4,107 | — | — | |||||||||||||||||||
Subprime mortgage | — | — | — | — | — | — | — | — | |||||||||||||||||||
Auto | 7,992 | 191 | 115 | 11 | 8,309 | 7,185 | 1 | 1 | |||||||||||||||||||
Business banking | 10,282 | 548 | 101 | 320 | 11,251 | 11,092 | 7 | 6 | |||||||||||||||||||
Student and other | 108 | 111 | 4 | 462 | 685 | 796 | — | — | |||||||||||||||||||
Total consumer, excluding credit card | 29,588 | 12,169 | 9,287 | 5,013 | 56,057 | 60,156 | 8 | 7 | |||||||||||||||||||
Credit card | 529,383 | — | — | — | 529,383 | 533,018 | — | — | |||||||||||||||||||
Total consumer | 558,971 | 12,169 | 9,287 | 5,013 | 585,440 | 593,174 | 8 | 7 | |||||||||||||||||||
Wholesale: | |||||||||||||||||||||||||||
Other unfunded commitments to extend credit(a)(b) | 61,459 | 79,519 | 97,139 | 8,378 | 246,495 | 243,225 | 432 | 377 | |||||||||||||||||||
Standby letters of credit and other financial guarantees(a)(b)(c) | 25,223 | 32,331 | 32,773 | 2,396 | 92,723 | 100,929 | 943 | 647 | |||||||||||||||||||
Unused advised lines of credit | 88,443 | 12,411 | 423 | 717 | 101,994 | 85,087 | — | — | |||||||||||||||||||
Other letters of credit(a) | 4,176 | 722 | 107 | 15 | 5,020 | 5,573 | 2 | 2 | |||||||||||||||||||
Total wholesale | 179,301 | 124,983 | 130,442 | 11,506 | 446,232 | 434,814 | 1,377 | 1,026 | |||||||||||||||||||
Total lending-related | $ | 738,272 | $ | 137,152 | $ | 139,729 | $ | 16,519 | $ | 1,031,672 | $ | 1,027,988 | $ | 1,385 | $ | 1,033 | |||||||||||
Other guarantees and commitments | |||||||||||||||||||||||||||
Securities lending indemnification agreements and guarantees(d) | $ | 169,709 | $ | — | $ | — | $ | — | $ | 169,709 | $ | 166,493 | NA | NA | |||||||||||||
Derivatives qualifying as guarantees | 1,922 | 765 | 16,061 | 37,526 | 56,274 | 61,738 | $ | 72 | $ | 42 | |||||||||||||||||
Unsettled reverse repurchase and securities borrowing agreements(e) | 38,211 | — | — | — | 38,211 | 34,871 | — | — | |||||||||||||||||||
Loan sale and securitization-related indemnifications: | |||||||||||||||||||||||||||
Mortgage repurchase liability | NA | NA | NA | NA | NA | NA | 681 | 2,811 | |||||||||||||||||||
Loans sold with recourse | NA | NA | NA | NA | 7,692 | 9,305 | 131 | 141 | |||||||||||||||||||
Other guarantees and commitments(f) | 654 | 256 | 1,484 | 4,392 | 6,786 | 6,780 | (99 | ) | (75 | ) | |||||||||||||||||
(a) | At December 31, 2013 and 2012, reflects the contractual amount net of risk participations totaling $476 million and $473 million, respectively, for other unfunded commitments to extend credit; $14.8 billion and $16.6 billion, respectively, for standby letters of credit and other financial guarantees; and $622 million and $690 million, respectively, for other letters of credit. In regulatory filings with the Federal Reserve these commitments are shown gross of risk participations. | ||||||||||||||||||||||||||
(b) | At December 31, 2013 and 2012, included credit enhancements and bond and commercial paper liquidity commitments to U.S. states and municipalities, hospitals and other non-profit entities of $18.9 billion and $21.3 billion, respectively, within other unfunded commitments to extend credit; and $17.2 billion and $23.2 billion, respectively, within standby letters of credit and other financial guarantees. These commitments also include liquidity facilities to nonconsolidated municipal bond VIEs; for further information, see Note 16 on pages 288–299 of this Annual Report. | ||||||||||||||||||||||||||
(c) | At December 31, 2013 and 2012, included unissued standby letters of credit commitments of $42.8 billion and $44.4 billion, respectively. | ||||||||||||||||||||||||||
(d) | At December 31, 2013 and 2012, collateral held by the Firm in support of securities lending indemnification agreements was $176.4 billion and $165.1 billion, respectively. Securities lending collateral comprises primarily cash and securities issued by governments that are members of the Organisation for Economic Co-operation and Development (“OECD”) and U.S. government agencies. | ||||||||||||||||||||||||||
(e) | At December 31, 2013 and 2012, the amount of commitments related to forward-starting reverse repurchase agreements and securities borrowing agreements were $9.9 billion and $13.2 billion, respectively. Commitments related to unsettled reverse repurchase agreements and securities borrowing agreements with regular-way settlement periods were $28.3 billion and $21.7 billion, at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||
(f) | At December 31, 2013 and 2012, included unfunded commitments of $215 million and $370 million, respectively, to third-party private equity funds; and $1.9 billion and $1.5 billion, respectively, to other equity investments. These commitments included $184 million and $333 million, respectively, related to investments that are generally fair valued at net asset value as discussed in Note 3 on pages 195–215 of this Annual Report. In addition, at both December 31, 2013 and 2012, included letters of credit hedged by derivative transactions and managed on a market risk basis of $4.5 billion. | ||||||||||||||||||||||||||
(g) | For lending-related products, the carrying value represents the allowance for lending-related commitments and the guarantee liability; for derivative-related products, the carrying value represents the fair value. | ||||||||||||||||||||||||||
Other unfunded commitments to extend credit | |||||||||||||||||||||||||||
Other unfunded commitments to extend credit generally comprise commitments for working capital and general corporate purposes, extensions of credit to support commercial paper facilities and bond financings in the event that those obligations cannot be remarketed to new investors as well as committed liquidity facilities to clearing organizations. | |||||||||||||||||||||||||||
Also included in other unfunded commitments to extend credit are commitments to noninvestment-grade counterparties in connection with leveraged and acquisition finance activities, which were $18.3 billion at December 31, 2013. In the fourth quarter of 2013, the Firm implemented prospectively interagency guidance that revised the Firm’s definition of leveraged lending to include all Commercial and Industrial borrowers, whether or not they are affiliated with financial sponsors, which meet certain leverage criteria and use of proceeds purpose tests related to a buyout, acquisition or capital distribution. Prior to this change, the Firm defined leveraged lending as primarily being affiliated with a financial sponsor-related company and used internal risk grades to identify the leveraged lending portfolio. For further information, see Note 3 and Note 4 on pages 195–215 and 215–218 respectively, of this Annual Report. | |||||||||||||||||||||||||||
In addition, the Firm acts as a clearing and custody bank in the U.S. tri-party repurchase transaction market. In its role as clearing and custody bank, the Firm is exposed to intra-day credit risk of the cash borrowers, usually broker-dealers; however, this exposure is secured by collateral and typically extinguished through the settlement process by the end of the day. Tri-party repurchase daily balances averaged $307 billion and $370 billion for the years ended December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||
Guarantees | |||||||||||||||||||||||||||
U.S. GAAP requires that a guarantor recognize, at the inception of a guarantee, a liability in an amount equal to the fair value of the obligation undertaken in issuing the guarantee. U.S. GAAP defines a guarantee as a contract that contingently requires the guarantor to pay a guaranteed party based upon: (a) changes in an underlying asset, liability or equity security of the guaranteed party; or (b) a third party’s failure to perform under a specified agreement. The Firm considers the following off–balance sheet lending-related arrangements to be guarantees under U.S. GAAP: standby letters of credit and financial guarantees, securities lending indemnifications, certain indemnification agreements included within third-party contractual arrangements and certain derivative contracts. | |||||||||||||||||||||||||||
As required by U.S. GAAP, the Firm initially records guarantees at the inception date fair value of the obligation assumed (e.g., the amount of consideration received or the net present value of the premium receivable). For certain types of guarantees, the Firm records this fair value amount in other liabilities with an offsetting entry recorded in cash (for premiums received), or other assets (for premiums receivable). Any premium receivable recorded in other assets is reduced as cash is received under the contract, and the fair value of the liability recorded at inception is amortized into income as lending and deposit-related fees over the life of the guarantee contract. For indemnifications provided in sales agreements, a portion of the sale proceeds is allocated to the guarantee, which adjusts the gain or loss that would otherwise result from the transaction. For these indemnifications, the initial liability is amortized to income as the Firm’s risk is reduced (i.e., over time or when the indemnification expires). Any contingent liability that exists as a result of issuing the guarantee or indemnification is recognized when it becomes probable and reasonably estimable. The contingent portion of the liability is not recognized if the estimated amount is less than the carrying amount of the liability recognized at inception (adjusted for any amortization). The recorded amounts of the liabilities related to guarantees and indemnifications at December 31, 2013 and 2012, excluding the allowance for credit losses on lending-related commitments, are discussed below. | |||||||||||||||||||||||||||
Standby letters of credit and other financial guarantees | |||||||||||||||||||||||||||
Standby letters of credit (“SBLC”) and other financial guarantees are conditional lending commitments issued by the Firm to guarantee the performance of a customer to a third party under certain arrangements, such as commercial paper facilities, bond financings, acquisition financings, trade and similar transactions. The carrying values of standby and other letters of credit were $945 million and $649 million at December 31, 2013 and 2012, respectively, which were classified in accounts payable and other liabilities on the Consolidated Balance Sheets; these carrying values included $265 million and $284 million, respectively, for the allowance for lending-related commitments, and $680 million and $365 million, respectively, for the guarantee liability and corresponding asset. | |||||||||||||||||||||||||||
The following table summarizes the types of facilities under which standby letters of credit and other letters of credit arrangements are outstanding by the ratings profiles of the Firm’s customers, as of December 31, 2013 and 2012. | |||||||||||||||||||||||||||
Standby letters of credit, other financial guarantees and other letters of credit | |||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||
December 31, | Standby letters of | Other letters | Standby letters of | Other letters | |||||||||||||||||||||||
(in millions) | credit and other financial guarantees | of credit | credit and other financial guarantees | of credit | |||||||||||||||||||||||
Investment-grade(a) | $ | 69,109 | $ | 3,939 | $ | 77,081 | $ | 3,998 | |||||||||||||||||||
Noninvestment-grade(a) | 23,614 | 1,081 | 23,848 | 1,575 | |||||||||||||||||||||||
Total contractual amount | $ | 92,723 | $ | 5,020 | $ | 100,929 | $ | 5,573 | |||||||||||||||||||
Allowance for lending-related commitments | $ | 263 | $ | 2 | $ | 282 | $ | 2 | |||||||||||||||||||
Commitments with collateral | 40,410 | 1,473 | 42,654 | 1,145 | |||||||||||||||||||||||
(a) | The ratings scale is based on the Firm’s internal ratings which generally correspond to ratings as defined by S&P and Moody’s. | ||||||||||||||||||||||||||
Advised lines of credit | |||||||||||||||||||||||||||
An advised line of credit is a revolving credit line which specifies the maximum amount the Firm may make available to an obligor, on a nonbinding basis. The borrower receives written or oral advice of this facility. The Firm may cancel this facility at any time by providing the borrower notice or, in some cases, without notice as permitted by law. | |||||||||||||||||||||||||||
Securities lending indemnifications | |||||||||||||||||||||||||||
Through the Firm’s securities lending program, customers’ securities, via custodial and non-custodial arrangements, may be lent to third parties. As part of this program, the Firm provides an indemnification in the lending agreements which protects the lender against the failure of the borrower to return the lent securities. To minimize its liability under these indemnification agreements, the Firm obtains cash or other highly liquid collateral with a market value exceeding 100% of the value of the securities on loan from the borrower. Collateral is marked to market daily to help assure that collateralization is adequate. Additional collateral is called from the borrower if a shortfall exists, or collateral may be released to the borrower in the event of overcollateralization. If a borrower defaults, the Firm would use the collateral held to purchase replacement securities in the market or to credit the lending customer with the cash equivalent thereof. | |||||||||||||||||||||||||||
Derivatives qualifying as guarantees | |||||||||||||||||||||||||||
In addition to the contracts described above, the Firm transacts certain derivative contracts that have the characteristics of a guarantee under U.S. GAAP. These contracts include written put options that require the Firm to purchase assets upon exercise by the option holder at a specified price by a specified date in the future. The Firm may enter into written put option contracts in order to meet client needs, or for other trading purposes. The terms of written put options are typically five years or less. Derivative guarantees also include contracts such as stable value derivatives that require the Firm to make a payment of the difference between the market value and the book value of a counterparty’s reference portfolio of assets in the event that market value is less than book value and certain other conditions have been met. Stable value derivatives, commonly referred to as “stable value wraps”, are transacted in order to allow investors to realize investment returns with less volatility than an unprotected portfolio and are typically longer-term or may have no stated maturity, but allow the Firm to terminate the contract under certain conditions. | |||||||||||||||||||||||||||
Derivative guarantees are recorded on the Consolidated Balance Sheets at fair value in trading assets and trading liabilities. The total notional value of the derivatives that the Firm deems to be guarantees was $56.3 billion and $61.7 billion at December 31, 2013 and 2012, respectively. The notional amount generally represents the Firm’s maximum exposure to derivatives qualifying as guarantees. However, exposure to certain stable value contracts is contractually limited to a substantially lower percentage of the notional amount; the notional amount on these stable value contracts was $27.0 billion and $26.5 billion at December 31, 2013 and 2012, respectively, and the maximum exposure to loss was $2.8 billion at both December 31, 2013 and 2012. The fair values of the contracts reflect the probability of whether the Firm will be required to perform under the contract. The fair value related to derivatives that the Firm deems to be guarantees were derivative payables of $109 million and $122 million and derivative receivables of $37 million and $80 million at December 31, 2013 and 2012, respectively. The Firm reduces exposures to these contracts by entering into offsetting transactions, or by entering into contracts that hedge the market risk related to the derivative guarantees. | |||||||||||||||||||||||||||
In addition to derivative contracts that meet the characteristics of a guarantee, the Firm is both a purchaser and seller of credit protection in the credit derivatives market. For a further discussion of credit derivatives, see Note 6 on pages 220–233 of this Annual Report. | |||||||||||||||||||||||||||
Unsettled reverse repurchase and securities borrowing agreements | |||||||||||||||||||||||||||
In the normal course of business, the Firm enters into reverse repurchase agreements and securities borrowing agreements that settle at a future date. At settlement, these commitments require that the Firm advance cash to and accept securities from the counterparty. These agreements generally do not meet the definition of a derivative, and therefore, are not recorded on the Consolidated Balance Sheets until settlement date. At December 31, 2013 and 2012, the amount of commitments related to forward starting reverse repurchase agreements and securities borrowing agreements were $9.9 billion and $13.2 billion, respectively. Commitments related to unsettled reverse repurchase agreements and securities borrowing agreements with regular way settlement periods were $28.3 billion and $21.7 billion at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||
Loan sales- and securitization-related indemnifications | |||||||||||||||||||||||||||
Mortgage repurchase liability | |||||||||||||||||||||||||||
In connection with the Firm’s mortgage loan sale and securitization activities with the GSEs and other mortgage loan sale and private-label securitization transactions, as described in Note 16 on pages 288–299 of this Annual Report, the Firm has made representations and warranties that the loans sold meet certain requirements. The Firm has been, and may be, required to repurchase loans and/or indemnify the GSEs (e.g., with “make-whole” payments to reimburse the GSEs for their realized losses on liquidated loans) and other investors for losses due to material breaches of these representations and warranties. To the extent that repurchase demands that are received relate to loans that the Firm purchased from third parties that remain viable, the Firm typically will have the right to seek a recovery of related repurchase losses from the third party. Generally, the maximum amount of future payments the Firm would be required to make for breaches of these representations and warranties would be equal to the unpaid principal balance of such loans that are deemed to have defects that were sold to purchasers (including securitization-related SPEs) plus, in certain circumstances, accrued interest on such loans and certain expense. | |||||||||||||||||||||||||||
On October 25, 2013, the Firm announced that it had reached a $1.1 billion agreement with the FHFA to resolve, other than certain limited types of exposures, outstanding and future mortgage repurchase demands associated with loans sold to the GSEs from 2000 to 2008 (“FHFA Settlement Agreement”). The majority of the mortgage repurchase demands that the Firm had received from the GSEs related to loans originated from 2005 to 2008. | |||||||||||||||||||||||||||
The Firm has recognized a mortgage repurchase liability of $681 million and $2.8 billion as of December 31, 2013 and 2012, respectively. The amount of the mortgage repurchase liability at December 31, 2013, relates to repurchase losses associated with loans sold in connection with loan sale and securitization transactions with the GSEs that are not covered by the FHFA Settlement Agreement (e.g., post-2008 loan sale and securitization transactions, mortgage insurance rescissions and certain mortgage insurance settlement-related exposures, as well as certain other specific exclusions). | |||||||||||||||||||||||||||
The following table summarizes the change in the mortgage repurchase liability for each of the periods presented. | |||||||||||||||||||||||||||
Summary of changes in mortgage repurchase liability | |||||||||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||
Repurchase liability at beginning of period | $ | 2,811 | $ | 3,557 | $ | 3,285 | |||||||||||||||||||||
Net realized losses(a)(b) | (1,561 | ) | (1,158 | ) | (1,263 | ) | |||||||||||||||||||||
Reclassification to | (179 | ) | — | — | |||||||||||||||||||||||
litigation reserve(c) | |||||||||||||||||||||||||||
Provision for repurchase losses(d) | (390 | ) | 412 | 1,535 | |||||||||||||||||||||||
Repurchase liability at end of period | $ | 681 | $ | 2,811 | $ | 3,557 | |||||||||||||||||||||
(a) | Presented net of third-party recoveries and include principal losses and accrued interest on repurchased loans, “make-whole” settlements, settlements with claimants, and certain related expense. Make-whole settlements were $414 million, $524 million and $640 million, for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||||||
(b) | The 2013 amount includes $1.1 billion, for the FHFA Settlement Agreement. | ||||||||||||||||||||||||||
(c) | Prior to December 31, 2013, in the absence of a repurchase demand by a party to the relevant contracts, the Firm’s decision to repurchase loans from private-label securitization trusts when it determined it had an obligation to do so was recognized in the mortgage repurchase liability. Pursuant to the terms of the RMBS Trust Settlement, all repurchase obligations relating to the subject private-label securitization trusts, whether resulting from a repurchase demand or otherwise, are now recognized in the Firm’s litigation reserves for this settlement. The RMBS Trust Settlement is fully accrued as of December 31, 2013. | ||||||||||||||||||||||||||
(d) | Included a provision related to new loan sales of $20 million, $112 million and $52 million, for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||||||
Private label securitizations | |||||||||||||||||||||||||||
The liability related to repurchase demands associated with private label securitizations is separately evaluated by the Firm in establishing its litigation reserves. | |||||||||||||||||||||||||||
On November 15, 2013, the Firm announced that it had reached a $4.5 billion agreement with 21 major institutional investors to make a binding offer to the trustees of 330 residential mortgage-backed securities trust issued by J.P.Morgan, Chase, and Bear Stearns (“RMBS Trust Settlement”) to resolve all representation and warranty claims, as well as all servicing claims, on all trust issued by J.P.Morgan, Chase, and Bear Stearns between 2005 and 2008. The RMBS Trust Settlement may be subject to court approval. | |||||||||||||||||||||||||||
In addition, from 2005 to 2008, Washington Mutual made certain loan level representations and warranties in connection with approximately $165 billion of residential mortgage loans that were originally sold or deposited into private-label securitizations by Washington Mutual. Of the $165 billion, approximately $75 billion has been repaid. In addition, approximately $47 billion of the principal amount of such loans has liquidated with an average loss severity of 59%. Accordingly, the remaining outstanding principal balance of these loans as of December 31, 2013, was approximately $43 billion, of which $10 billion was 60 days or more past due. The Firm believes that any repurchase obligations related to these loans remain with the FDIC receivership. | |||||||||||||||||||||||||||
For additional information regarding litigation, see Note 31 on pages 326–332 of this Annual Report. | |||||||||||||||||||||||||||
Loans sold with recourse | |||||||||||||||||||||||||||
The Firm provides servicing for mortgages and certain commercial lending products on both a recourse and nonrecourse basis. In nonrecourse servicing, the principal credit risk to the Firm is the cost of temporary servicing advances of funds (i.e., normal servicing advances). In recourse servicing, the servicer agrees to share credit risk with the owner of the mortgage loans, such as Fannie Mae or Freddie Mac or a private investor, insurer or guarantor. Losses on recourse servicing predominantly occur when foreclosure sales proceeds of the property underlying a defaulted loan are less than the sum of the outstanding principal balance, plus accrued interest on the loan and the cost of holding and disposing of the underlying property. The Firm’s securitizations are predominantly nonrecourse, thereby effectively transferring the risk of future credit losses to the purchaser of the mortgage-backed securities issued by the trust. At December 31, 2013 and 2012, the unpaid principal balance of loans sold with recourse totaled $7.7 billion and $9.3 billion, respectively. The carrying value of the related liability that the Firm has recorded, which is representative of the Firm’s view of the likelihood it will have to perform under its recourse obligations, was $131 million and $141 million at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||
Other off-balance sheet arrangements | |||||||||||||||||||||||||||
Indemnification agreements – general | |||||||||||||||||||||||||||
In connection with issuing securities to investors, the Firm may enter into contractual arrangements with third parties that require the Firm to make a payment to them in the event of a change in tax law or an adverse interpretation of tax law. In certain cases, the contract also may include a termination clause, which would allow the Firm to settle the contract at its fair value in lieu of making a payment under the indemnification clause. The Firm may also enter into indemnification clauses in connection with the licensing of software to clients (“software licensees”) or when it sells a business or assets to a third party (“third-party purchasers”), pursuant to which it indemnifies software licensees for claims of liability or damages that may occur subsequent to the licensing of the software, or third-party purchasers for losses they may incur due to actions taken by the Firm prior to the sale of the business or assets. It is difficult to estimate the Firm’s maximum exposure under these indemnification arrangements, since this would require an assessment of future changes in tax law and future claims that may be made against the Firm that have not yet occurred. However, based on historical experience, management expects the risk of loss to be remote. | |||||||||||||||||||||||||||
Credit card charge-backs | |||||||||||||||||||||||||||
Chase Paymentech Solutions, Card’s merchant services business and a subsidiary of JPMorgan Chase Bank, N.A., is a global leader in payment processing and merchant acquiring. | |||||||||||||||||||||||||||
Under the rules of Visa USA, Inc., and MasterCard International, JPMorgan Chase Bank, N.A., is primarily liable for the amount of each processed credit card sales transaction that is the subject of a dispute between a cardmember and a merchant. If a dispute is resolved in the cardmember’s favor, Chase Paymentech will (through the cardmember’s issuing bank) credit or refund the amount to the cardmember and will charge back the transaction to the merchant. If Chase Paymentech is unable to collect the amount from the merchant, Chase Paymentech will bear the loss for the amount credited or refunded to the cardmember. Chase Paymentech mitigates this risk by withholding future settlements, retaining cash reserve accounts or by obtaining other security. However, in the unlikely event that: (1) a merchant ceases operations and is unable to deliver products, services or a refund; (2) Chase Paymentech does not have sufficient collateral from the merchant to provide customer refunds; and (3) Chase Paymentech does not have sufficient financial resources to provide customer refunds, JPMorgan Chase Bank, N.A., would recognize the loss. | |||||||||||||||||||||||||||
Chase Paymentech incurred aggregate losses of $14 million, $16 million, and $13 million on $750.1 billion, $655.2 billion, and $553.7 billion of aggregate volume processed for the years ended December 31, 2013, 2012 and 2011, respectively. Incurred losses from merchant charge-backs are charged to Other expense, with the offset recorded in a valuation allowance against Accrued interest and accounts receivable on the Consolidated Balance Sheets. The carrying value of the valuation allowance was $5 million and $6 million at December 31, 2013 and 2012, respectively, which the Firm believes, based on historical experience and the collateral held by Chase Paymentech of $208 million and $203 million at December 31, 2013 and 2012, respectively, is representative of the payment or performance risk to the Firm related to charge-backs. | |||||||||||||||||||||||||||
Clearing Services - Client Credit Risk | |||||||||||||||||||||||||||
The Firm provides clearing services for clients entering into securities purchases and sales and derivative transactions, with central counterparties (“CCPs”), including exchange traded derivatives (“ETDs”) such as futures and options, as well as cleared over-the-counter (“OTC-cleared”) derivative contracts. As a clearing member, the Firm stands behind the performance of its clients, collects cash and securities collateral (margin) as well as any settlement amounts due from or to clients, and remits them to the relevant CCP or client in whole or part. There are two types of margin. Variation margin is posted on a daily basis based on the value of clients’ derivative contracts. Initial margin is posted at inception of a derivative contract, generally on the basis of the potential changes in the variation margin requirement for the contract. | |||||||||||||||||||||||||||
As clearing member, the Firm is exposed to the risk of non-performance by its clients, but is not liable to clients for the performance of the CCPs. Where possible, the Firm seeks to mitigate its risk to the client through the collection of appropriate amounts of margin at inception and throughout the life of the transactions and can also cease provision of clearing services if clients do not adhere to their obligations under the clearing agreement. In the event of non-performance by a client, the Firm would close out the client’s positions and access available margin. The CCP would utilize any margin it holds to make itself whole, with any remaining shortfalls required to be paid by the Firm as clearing member. | |||||||||||||||||||||||||||
The Firm reflects its exposure to non-performance risk of the client through the recognition of margin payables or receivables to clients and CCPs, but does not reflect the clients underlying securities or derivative contracts in its Consolidated Financial Statements. | |||||||||||||||||||||||||||
It is difficult to estimate the Firm’s maximum possible exposure through its role as clearing member, as this would require an assessment of transactions that clients may execute in the future. However, based upon historical experience, and the credit risk mitigants available to the Firm, management believes it is unlikely that the Firm will have to make any material payments under these arrangements and the risk of loss is expected to be remote. | |||||||||||||||||||||||||||
For information on the derivatives that the Firm executes for its own account and records in its Consolidated Financial Statements, see Note 6 on pages 220–233 of this Annual Report. | |||||||||||||||||||||||||||
Exchange & Clearing House Memberships | |||||||||||||||||||||||||||
Through the provision of clearing services, the Firm is a member of several securities and derivative exchanges and clearinghouses, both in the U.S. and other countries. Membership in some of these organizations requires the Firm to pay a pro rata share of the losses incurred by the organization as a result of the default of another member. Such obligations vary with different organizations. These obligations may be limited to members who dealt with the defaulting member or to the amount (or a multiple of the amount) of the Firm’s contribution to the guarantee fund. Alternatively, these obligations may be a full pro-rata share of the residual losses after applying the guarantee fund. It is difficult to estimate the Firm’s maximum possible exposure under these membership agreements, since this would require an assessment of future claims that may be made against the Firm that have not yet occurred. However, based on historical experience, management expects the risk of loss to be remote. | |||||||||||||||||||||||||||
Guarantees of subsidiaries | |||||||||||||||||||||||||||
In the normal course of business, JPMorgan Chase & Co. (“Parent Company”) may provide counterparties with guarantees of certain of the trading and other obligations of its subsidiaries on a contract-by-contract basis, as negotiated with the Firm’s counterparties. The obligations of the subsidiaries are included on the Firm’s Consolidated Balance Sheets, or are reflected as off-balance sheet commitments; therefore, the Parent Company has not recognized a separate liability for these guarantees. The Firm believes that the occurrence of any event that would trigger payments by the Parent Company under these guarantees is remote. | |||||||||||||||||||||||||||
The Parent Company has guaranteed certain debt of its subsidiaries, including both long-term debt and structured notes sold as part of the Firm’s market-making activities. These guarantees are not included in the table on page 319 of this Note. For additional information, see Note 21 on pages 306–308 of this Annual Report. |
Commitments_Pledged_Assets_and
Commitments, Pledged Assets, and Collateral | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||
Commitments, pledged assets and collateral | ' | ||||||||||||
Commitments, pledged assets and collateral | |||||||||||||
Lease commitments | |||||||||||||
At December 31, 2013, JPMorgan Chase and its subsidiaries were obligated under a number of noncancelable operating leases for premises and equipment used primarily for banking purposes, and for energy-related tolling service agreements. Certain leases contain renewal options or escalation clauses providing for increased rental payments based on maintenance, utility and tax increases, or they require the Firm to perform restoration work on leased premises. No lease agreement imposes restrictions on the Firm’s ability to pay dividends, engage in debt or equity financing transactions or enter into further lease agreements. | |||||||||||||
The following table presents required future minimum rental payments under operating leases with noncancelable lease terms that expire after December 31, 2013. | |||||||||||||
Year ended December 31, (in millions) | |||||||||||||
2014 | $ | 1,936 | |||||||||||
2015 | 1,845 | ||||||||||||
2016 | 1,687 | ||||||||||||
2017 | 1,529 | ||||||||||||
2018 | 1,267 | ||||||||||||
After 2018 | 6,002 | ||||||||||||
Total minimum payments required(a) | 14,266 | ||||||||||||
Less: Sublease rentals under noncancelable subleases | (2,595 | ) | |||||||||||
Net minimum payment required | $ | 11,671 | |||||||||||
(a) | Lease restoration obligations are accrued in accordance with U.S. GAAP, and are not reported as a required minimum lease payment. | ||||||||||||
Total rental expense was as follows. | |||||||||||||
Year ended December 31, | |||||||||||||
(in millions) | 2013 | 2012 | 2011 | ||||||||||
Gross rental expense | $ | 2,187 | $ | 2,212 | $ | 2,228 | |||||||
Sublease rental income | (341 | ) | (288 | ) | (403 | ) | |||||||
Net rental expense | $ | 1,846 | $ | 1,924 | $ | 1,825 | |||||||
Pledged assets | |||||||||||||
At December 31, 2013, assets were pledged to maintain potential borrowing capacity with central banks and for other purposes, including to secure borrowings and public deposits, and to collateralize repurchase and other securities financing agreements. Certain of these pledged assets may be sold or repledged by the secured parties and are identified as financial instruments owned (pledged to various parties) on the Consolidated Balance Sheets. At December 31, 2013 and 2012, the Firm had pledged assets of $251.3 billion and $236.4 billion, respectively, at Federal Reserve Banks and FHLBs. In addition, as of December 31, 2013 and 2012, the Firm had pledged $60.6 billion and $74.5 billion, respectively, of financial instruments it owns that may not be sold or repledged by the secured parties. The prior period amount (and the corresponding pledged assets parenthetical disclosure for securities on the Consolidated Balance Sheets) have been revised to conform with the current period presentation. Total assets pledged do not include assets of consolidated VIEs; these assets are used to settle the liabilities of those entities. See Note 16 on pages 288–299 of this Annual Report for additional information on assets and liabilities of consolidated VIEs. For additional information on the Firm’s securities financing activities and long-term debt, see Note 13 on pages 255–257, and Note 21 on pages 306–308, respectively, of this Annual report. The significant components of the Firm’s pledged assets were as follows. | |||||||||||||
December 31, (in billions) | 2013 | 2012 | |||||||||||
Securities | $ | 68.1 | $ | 110.1 | |||||||||
Loans | 230.3 | 207.2 | |||||||||||
Trading assets and other | 145.2 | 155.5 | |||||||||||
Total assets pledged | $ | 443.7 | $ | 472.8 | |||||||||
Collateral | |||||||||||||
At December 31, 2013 and 2012, the Firm had accepted assets as collateral that it could sell or repledge, deliver or otherwise use with a fair value of approximately $726.7 billion and $757.1 billion, respectively. This collateral was generally obtained under resale agreements, securities borrowing agreements, customer margin loans and derivative agreements. Of the collateral received, approximately $543.5 billion and $545.0 billion, respectively, were sold or repledged, generally as collateral under repurchase agreements, securities lending agreements or to cover short sales and to collateralize deposits and derivative agreements. |
Litigation
Litigation | 12 Months Ended |
Dec. 31, 2013 | |
Litigation [Abstract] | ' |
Litigation | ' |
Litigation | |
Contingencies | |
As of December 31, 2013, the Firm and its subsidiaries are defendants or putative defendants in numerous legal proceedings, including private, civil litigations and regulatory/government investigations. The litigations range from individual actions involving a single plaintiff to class action lawsuits with potentially millions of class members. Investigations involve both formal and informal proceedings, by both governmental agencies and self-regulatory organizations. These legal proceedings are at varying stages of adjudication, arbitration or investigation, and involve each of the Firm’s lines of business and geographies and a wide variety of claims (including common law tort and contract claims and statutory antitrust, securities and consumer protection claims), some of which present novel legal theories. | |
The Firm believes the estimate of the aggregate range of reasonably possible losses, in excess of reserves established, for its legal proceedings is from $0 to approximately $5.0 billion at December 31, 2013. This estimated aggregate range of reasonably possible losses is based upon currently available information for those proceedings in which the Firm is involved, taking into account the Firm’s best estimate of such losses for those cases for which such estimate can be made. For certain cases, the Firm does not believe that an estimate can currently be made. The Firm’s estimate involves significant judgment, given the varying stages of the proceedings (including the fact that many are currently in preliminary stages), the existence in many such proceedings of multiple defendants (including the Firm) whose share of liability has yet to be determined, the numerous yet-unresolved issues in many of the proceedings (including issues regarding class certification and the scope of many of the claims) and the attendant uncertainty of the various potential outcomes of such proceedings. Accordingly, the Firm’s estimate will change from time to time, and actual losses may vary. | |
Set forth below are descriptions of the Firm’s material legal proceedings. | |
Bear Stearns Hedge Fund Matter. In September 2013, an action brought by Bank of America and Banc of America Securities LLC (together “BofA”) in the United States District Court for the Southern District of New York against Bear Stearns Asset Management, Inc. (“BSAM”) relating to alleged losses resulting from the failure of the Bear Stearns High Grade Structured Credit Strategies Master Fund, Ltd. and the Bear Stearns High Grade Structured Credit Strategies Enhanced Leverage Master Fund, Ltd. was dismissed after the court granted BSAM’s motion for summary judgment. BofA has determined not to appeal the dismissal. | |
CIO Investigations and Litigation. The Firm is responding to a consolidated shareholder purported class action, a consolidated purported class action brought under the Employee Retirement Income Security Act and shareholder derivative actions that have been filed in New York state court and the United States District Court for the Southern District of New York, as well as shareholder demands and government investigations, relating to losses in the synthetic credit portfolio managed by the Firm’s Chief Investment Office (“CIO”). The Firm continues to cooperate with ongoing government investigations, including by the United States Attorney’s Office for the Southern District of New York and the State of Massachusetts. The purported class actions and shareholder derivative actions are in early stages with defendants’ motions to dismiss pending. | |
Credit Default Swaps Investigations and Litigation. In July 2013, the European Commission (the “EC”) filed a Statement of Objections against the Firm (including various subsidiaries) and other industry members in connection with its ongoing investigation into the credit default swaps (“CDS”) marketplace. The EC asserts that between 2006 and 2009, a number of investment banks acted collectively through the International Swaps and Derivatives Association (“ISDA”) and Markit Group Limited (“Markit”) to foreclose exchanges from the potential market for exchange-traded credit derivatives by instructing Markit and ISDA to license their respective data and index benchmarks only for over-the-counter (“OTC”) trading and not for exchange trading, allegedly to protect the investment banks’ revenues from the OTC market. The Firm submitted a response to the Statement of Objections in January 2014. The U.S. Department of Justice (the “DOJ”) also has an ongoing investigation into the CDS marketplace, which was initiated in July 2009. | |
Separately, the Firm is a defendant in nine purported class actions (all consolidated in the United States District Court for the Southern District of New York) filed on behalf of purchasers and sellers of CDS and asserting federal antitrust law claims. Each of the complaints refers to the ongoing investigations by the EC and DOJ into the CDS market, and alleges that the defendant investment banks and dealers, including the Firm, as well as Markit and/or ISDA, collectively prevented new entrants into the CDS market, in order to artificially inflate the defendants’ OTC revenues. | |
Foreign Exchange Investigations and Litigation. The Firm has received information requests, document production notices and related inquiries from various U.S. and non-U.S. government authorities regarding the Firm’s foreign exchange trading business. These investigations are in the early stages and the Firm is cooperating with the relevant authorities. | |
Since November 2013, a number of class actions have been filed in the United Stated District Court for the Southern District of New York against a number of foreign exchange dealers, including the Firm, for alleged violations of federal and state antitrust laws and unjust enrichment based on an alleged conspiracy to manipulate foreign exchange rates reported on the WM/Reuters service. | |
Interchange Litigation. A group of merchants and retail associations filed a series of class action complaints relating to interchange in several federal courts. The complaints alleged that Visa and MasterCard, as well as certain banks, conspired to set the price of credit and debit card interchange fees, enacted respective rules in violation of antitrust laws, and engaged in tying/bundling and exclusive dealing. All cases were consolidated in the United States District Court for the Eastern District of New York for pretrial proceedings. | |
The parties have entered into an agreement to settle those cases, for a cash payment of $6.05 billion to the class plaintiffs (of which the Firm’s share is approximately 20%) and an amount equal to ten basis points of credit card interchange for a period of eight months to be measured from a date within 60 days of the end of the opt-out period. The agreement also provides for modifications to each credit card network’s rules, including those that prohibit surcharging credit card transactions. The rule modifications became effective in January 2013. In December 2013, the Court issued a decision granting final approval of the settlement. A number of merchants have filed notices of appeal. Certain merchants that opted out of the class settlement have filed actions against Visa and MasterCard, as well as against the Firm and other banks. | |
Investment Management Litigation. The Firm is defending two pending cases that allege that investment portfolios managed by J.P. Morgan Investment Management (“JPMIM”) were inappropriately invested in securities backed by residential real estate collateral. Plaintiffs Assured Guaranty (U.K.) and Ambac Assurance UK Limited claim that JPMIM is liable for losses of more than $1 billion in market value of these securities. Discovery is proceeding. | |
Italian Proceedings. | |
City of Milan. In January 2009, the City of Milan, Italy (the “City”) issued civil proceedings against (among others) JPMorgan Chase Bank, N.A. and J.P. Morgan Securities plc in the District Court of Milan alleging a breach of advisory obligations in connection with a bond issue by the City in June 2005 and an associated swap transaction. The Firm has entered into a settlement agreement with the City to resolve the City’s civil proceedings. | |
Four current and former JPMorgan Chase employees and JPMorgan Chase Bank, N.A. (as well as other individuals and three other banks) were directed by a criminal judge to participate in a trial that started in May 2010. As it relates to JPMorgan Chase individuals, two were acquitted and two were found guilty of aggravated fraud with sanctions of prison sentences, fines and a ban from dealing with Italian public bodies for one year. JPMorgan Chase (along with other banks involved) was found liable for breaches of Italian administrative law, fined €1 million and ordered to forfeit the profit from the transaction (for JPMorgan Chase, totaling €24.7 million). JPMorgan Chase and the individuals are appealing the verdict, and none of the sanctions will take effect until all appeal avenues have been exhausted. The first appeal hearing took place in January 2014. | |
Parmalat. In 2003, following the bankruptcy of the Parmalat group of companies (“Parmalat”), criminal prosecutors in Italy investigated the activities of Parmalat, its directors and the financial institutions that had dealings with them following the collapse of the company. In March 2012, the criminal prosecutor served a notice indicating an intention to pursue criminal proceedings against four former employees of the Firm (but not against the Firm) on charges of conspiracy to cause Parmalat’s insolvency by underwriting bonds and continuing derivatives trading when Parmalat’s balance sheet was false. A preliminary hearing is scheduled for February 2014, at which the judge will determine whether to recommend that the matter go to a full trial. | |
In addition, the administrator of Parmalat commenced five civil actions against JPMorgan Chase entities including: two claw-back actions; a claim relating to bonds issued by Parmalat in which it is alleged that JPMorgan Chase kept Parmalat “artificially” afloat and delayed the declaration of insolvency; and similar allegations in two claims relating to derivatives transactions. | |
Lehman Brothers Bankruptcy Proceedings. In May 2010, Lehman Brothers Holdings Inc. (“LBHI”) and its Official Committee of Unsecured Creditors (the “Committee”) filed a complaint (and later an amended complaint) against JPMorgan Chase Bank, N.A. in the United States Bankruptcy Court for the Southern District of New York that asserts both federal bankruptcy law and state common law claims, and seeks, among other relief, to recover $8.6 billion in collateral that was transferred to JPMorgan Chase Bank, N.A. in the weeks preceding LBHI’s bankruptcy. The amended complaint also seeks unspecified damages on the grounds that JPMorgan Chase Bank, N.A.’s collateral requests hastened LBHI’s bankruptcy. The Court dismissed the counts of the amended complaint that sought to void the allegedly constructively fraudulent and preferential transfers made to the Firm during the months of August and September 2008. | |
The Firm has also filed counterclaims against LBHI alleging that LBHI fraudulently induced the Firm to make large clearing advances to Lehman against inappropriate collateral, which left the Firm with more than $25 billion in claims (the “Clearing Claims”) against the estate of Lehman Brothers Inc. (“LBI”), LBHI’s broker-dealer subsidiary. LBHI and the Committee have filed an objection to the claims asserted by JPMorgan Chase Bank, N.A. against LBHI with respect to the Clearing Claims, principally on the grounds that the Firm had not conducted the sale of the securities collateral held for such claims in a commercially reasonable manner. The Clearing Claims, together with approximately $3 billion of other claims of the Firm against Lehman entities, have been paid in full, subject to the outcome of the objections filed by LBHI and the Committee. Discovery is ongoing. | |
LBHI and several of its subsidiaries that had been Chapter 11 debtors have filed a separate complaint and objection to derivatives claims asserted by the Firm alleging that the amount of the derivatives claims had been overstated and challenging certain set-offs taken by JPMorgan Chase entities to recover on the claims. The Firm responded to this separate complaint and objection in February 2013. Discovery is ongoing. | |
LIBOR and Other Benchmark Rate Investigations and Litigation. JPMorgan Chase has received subpoenas and requests for documents and, in some cases, interviews, from federal and state agencies and entities, including the DOJ, the Commodity Futures Trading Commission (the “CFTC”), the Securities and Exchange Commission (the “SEC”) and various state attorneys general, as well as the European Commission, the U.K. Financial Conduct Authority (the “FCA”), Canadian Competition Bureau, Swiss Competition Commission and other regulatory authorities and banking associations around the world relating primarily to the process by which interest rates were submitted to the British Bankers Association (“BBA”) in connection with the setting of the BBA’s London Interbank Offered Rate (“LIBOR”) for various currencies, principally in 2007 and 2008. Some of the inquiries also relate to similar processes by which information on rates is submitted to the European Banking Federation (“EBF”) in connection with the setting of the EBF’s Euro Interbank Offered Rates (“EURIBOR”) and to the Japanese Bankers’ Association for the setting of Tokyo Interbank Offered Rates (“TIBOR”) as well as to other processes for the setting of other reference rates in various parts of the world during similar time periods. The Firm is cooperating with these inquiries. In December 2013, JPMorgan Chase reached a settlement with the European Commission regarding its Japanese Yen LIBOR investigation and agreed to pay a fine of €79.9 million. Investigations by the European Commission with regard to other reference rates remain open. In January 2014, the Canadian Competition Bureau announced that it has discontinued its investigation related to Yen LIBOR. | |
In addition, the Firm has been named as a defendant along with other banks in a series of individual and class actions filed in various United States District Courts in which plaintiffs make varying allegations that in various periods, starting in 2000 or later, defendants either individually or collectively manipulated the U.S. dollar LIBOR, Yen LIBOR and/or Euroyen TIBOR rates by submitting rates that were artificially low or high. Plaintiffs allege that they transacted in loans, derivatives or other financial instruments whose values are impacted by changes in U.S. dollar LIBOR, Yen LIBOR, or Euroyen TIBOR and assert a variety of claims including antitrust claims seeking treble damages. | |
The U.S. dollar LIBOR-related purported class actions have been consolidated for pre-trial purposes in the United States District Court for the Southern District of New York. In March 2013, the Court granted in part and denied in part the defendants’ motions to dismiss the claims, including dismissal with prejudice of the antitrust claims, and the United States Court of Appeals for the Second Circuit dismissed the appeals for lack of jurisdiction. In September 2013, certain plaintiffs filed amended complaints and others sought leave to amend their complaints to add additional allegations. Defendants have moved to dismiss the amended complaints and have opposed the requests to amend. Those motions remain pending. | |
The Firm has also been named as a defendant in a purported class action filed in the United States District Court for the Southern District of New York on behalf of plaintiffs who purchased or sold exchange-traded Euroyen futures and options contracts. The action alleges manipulation of Yen LIBOR. Defendants have filed a motion to dismiss. | |
The Firm has also been named as a nominal defendant in a derivative action in the Supreme Court of New York in the County of New York against certain current and former members of the Firm’s board of directors for alleged breach of fiduciary duty in connection with the Firm’s purported role in manipulating LIBOR. The defendants have filed a motion to dismiss. | |
Madoff Litigation and Investigations. In January 2014, certain of the Firm’s bank subsidiaries entered into settlements with various governmental agencies in resolution of investigations relating to Bernard L. Madoff Investment Securities LLC (“BLMIS”). The Firm and certain of its subsidiaries also entered into settlements with several private parties in resolution of civil litigation relating to BLMIS. | |
JPMorgan Chase Bank, N.A. entered into a Deferred Prosecution Agreement (the “DPA”) with the United States Attorney’s Office for the Southern District of New York (the “U.S. Attorney”) in which it agreed to forfeit $1.7 billion to the United States as a non-tax-deductible payment. JPMorgan Chase Bank, N.A. also consented, subject to the terms and conditions of the DPA, to the filing by the U.S. Attorney of an Information charging the bank with failure to maintain an adequate anti-money laundering program, and a failure to file a suspicious activity report in the United States in October 2008 with respect to BLMIS, in violation of the Bank Secrecy Act. Pursuant to the DPA, the U.S. Attorney will defer any prosecution of JPMorgan Chase Bank, N.A. for a two-year period and will dismiss the Information with prejudice at the end of that time if the bank is in compliance with its obligations under the DPA. The DPA has been approved by the court. | |
JPMorgan Chase Bank, N.A., JPMorgan Bank and Trust Company, N.A. and Chase Bank USA, N.A., have also consented to the assessment of a $350 million Civil Money Penalty by the Office of the Comptroller of the Currency (“OCC”) in connection with various Bank Secrecy Act/Anti-Money Laundering deficiencies, including in relation to the BLMIS fraud. In addition, JPMorgan Chase Bank, N.A. has agreed to the assessment of a $461 million Civil Money Penalty by the Financial Crimes Enforcement Network (“FinCEN”) for failure to detect and adequately report suspicious transactions relating to BLMIS. The FinCEN penalty, but not the OCC penalty, has been deemed satisfied by the forfeiture payment to the U.S. Attorney. | |
Additionally, the Firm and certain subsidiaries, including JPMorgan Chase Bank, N.A., have agreed to enter into settlements with the court-appointed trustee for BLMIS (the “Trustee”) and with plaintiffs representing a class of former BLMIS customers who lost all or a portion of their principal investments with BLMIS. As part of these settlements, the Firm and the bank have agreed to pay the Trustee a total of $325 million. Separately, the Firm and the bank have agreed to pay the class action plaintiffs $218 million, as well as attorneys’ fees, in exchange for a release of all damages claims relating to BLMIS. The settlements with the Trustee and the class action plaintiffs are subject to court approval. BLMIS customers who did not suffer losses on their principal investments are not eligible to participate in the class action settlement, and certain customers in that category have stated that they intend to pursue claims against the Firm. | |
Also, various subsidiaries of the Firm, including J.P. Morgan Securities plc, have been named as defendants in lawsuits filed in Bankruptcy Court in New York arising out of the liquidation proceedings of Fairfield Sentry Limited and Fairfield Sigma Limited (together, “Fairfield”), so-called Madoff feeder funds. These actions seek to recover payments made by the funds to defendants totaling approximately $155 million. Pursuant to an agreement with the Trustee, the liquidators of Fairfield have voluntarily dismissed their action against J.P. Morgan Securities plc without prejudice to re-filing. The other actions remain outstanding. | |
In addition, a purported class action was brought by investors in certain feeder funds against JPMorgan Chase in the United States District Court for the Southern District of New York, as was a motion by separate potential class plaintiffs to add claims against the Firm and certain subsidiaries to an already pending purported class action in the same court. The allegations in these complaints largely track those raised by the Trustee. The Court dismissed these complaints and plaintiffs have appealed. In September 2013, the United States Court of Appeals for the Second Circuit affirmed the District Court’s decision. The plaintiffs have petitioned the entire Court for a rehearing of the appeal and the Court has deferred decision pending a ruling by the United States Supreme Court on a potentially related issue. | |
The Firm is a defendant in five other Madoff-related investor actions pending in New York state court. The allegations in all of these actions are essentially identical, and involve claims against the Firm for, among other things, aiding and abetting breach of fiduciary duty, conversion and unjust enrichment. The Firm has moved to dismiss these actions. | |
Additionally, a shareholder derivative action has been filed in New York state court against the Firm, as nominal defendant, and certain of its current and former Board members, alleging breach of fiduciary duty for failure to maintain effective internal controls to detect fraudulent transactions. | |
MF Global. The Firm has responded to inquiries from the CFTC relating to the Firm’s banking and other business relationships with MF Global, including as a depository for MF Global’s customer segregated accounts. | |
J.P. Morgan Securities LLC has been named as one of several defendants in a number of purported class actions filed by purchasers of MF Global’s publicly traded securities asserting violations of federal securities laws and alleging that the offering documents contained materially false and misleading statements and omissions regarding MF Global. The actions have been consolidated before the United States District Court for the Southern District of New York. Discovery is ongoing. | |
Mortgage-Backed Securities and Repurchase Litigation and Related Regulatory Investigations. JPMorgan Chase and affiliates (together, “JPMC”), Bear Stearns and affiliates (together, “Bear Stearns”) and Washington Mutual affiliates (together, “Washington Mutual”) have been named as defendants in a number of cases in their various roles in offerings of mortgage-backed securities (“MBS”). These cases include purported class action suits on behalf of MBS purchasers, actions by individual MBS purchasers and actions by monoline insurance companies that guaranteed payments of principal and interest for particular tranches of MBS offerings. Following the settlements referred to under “Repurchase Litigation” and “Government Enforcement Investigations and Litigation” below, there are currently pending and tolled investor and monoline insurer claims involving MBS with an original principal balance of approximately $74 billion, of which $67 billion involves JPMC, Bear Stearns or Washington Mutual as issuer and $7 billion involves JPMC, Bear Stearns or Washington Mutual solely as underwriter. The Firm and certain of its current and former officers and Board members have also been sued in shareholder derivative actions relating to the Firm’s MBS activities, and trustees have asserted or have threatened to assert claims that loans in securitization trusts should be repurchased. | |
Issuer Litigation – Class Actions. The Firm is a defendant in three purported class actions brought against JPMC and Bear Stearns as MBS issuers (and, in some cases, also as underwriters of their own MBS offerings) in the United States District Courts for the Eastern and Southern Districts of New York. The Firm has reached an agreement in principle to settle one of these purported class actions, pending in the United States District Court for the Eastern District of New York. Motions to dismiss have largely been denied in the remaining two cases pending in the United States District Court for the Southern District of New York, which are in various stages of litigation. | |
Issuer Litigation – Individual Purchaser Actions. In addition to class actions, the Firm is defending individual actions brought against JPMC, Bear Stearns and Washington Mutual as MBS issuers (and, in some cases, also as underwriters of their own MBS offerings). These actions are pending in federal and state courts across the United States and are in various stages of litigation. | |
Monoline Insurer Litigation. The Firm is defending five pending actions relating to monoline insurers’ guarantees of principal and interest on certain classes of 14 different Bear Stearns MBS offerings. These actions are pending in federal and state courts in New York and are in various stages of litigation. | |
Underwriter Actions. In actions against the Firm solely as an underwriter of other issuers’ MBS offerings, the Firm has contractual rights to indemnification from the issuers. However, those indemnity rights may prove effectively unenforceable in various situations, such as where the issuers are now defunct. There are currently such actions pending against the Firm in federal and state courts in various stages of litigation. | |
Repurchase Litigation. The Firm is defending a number of actions brought by trustees or master servicers of various MBS trusts and others on behalf of purchasers of securities issued by those trusts. These cases generally allege breaches of various representations and warranties regarding securitized loans and seek repurchase of those loans or equivalent monetary relief, as well as indemnification of attorneys’ fees and costs and other remedies. Deutsche Bank National Trust Company, acting as trustee for various MBS trusts, has filed such a suit against JPMC, Washington Mutual and the FDIC in connection with a significant number of MBS issued by Washington Mutual; that case is described in the Washington Mutual Litigations section below. Other repurchase actions, each specific to one or more MBS transactions issued by JPMC and/or Bear Stearns, are in various stages of litigation. | |
In addition, the Firm received demands by securitization trustees that threaten litigation, as well as demands by investors directing or threatening to direct trustees to investigate claims or bring litigation, based on purported obligations to repurchase loans out of securitization trusts and alleged servicing deficiencies. These include but are not limited to a demand from a law firm, as counsel to a group of 21 institutional MBS investors, to various trustees to investigate potential repurchase and servicing claims. These investors purported to have 25% or more of the voting rights in as many as 191 different trusts sponsored by the Firm or its affiliates with an original principal balance of more than $174 billion (excluding 52 trusts sponsored by Washington Mutual, with an original principal balance of more than $58 billion). Pursuant to a settlement agreement with the group of institutional investors, JPMC and the investor group have made a binding offer to the trustees of MBS issued by JPMC and Bear Stearns that provides for the payment of $4.5 billion and the implementation of certain servicing changes to mortgage loans serviced by JPMC, to resolve all repurchase and servicing claims that have been asserted or could have been asserted with respect to the 330 MBS trusts. The offer, which is subject to acceptance by the trustees, and potentially a judicial approval process, does not resolve claims relating to WaMu MBS. JPMC and the trustees have agreed to toll and forbear from asserting repurchase and servicing claims with respect to most of the JPMC and Bear Stearns trusts subject to the settlement during the pendency of the settlement approval process. | |
There are additional repurchase and servicing claims made against trustees not affiliated with the Firm, but involving trusts that the Firm sponsored, which have been tolled. | |
Derivative Actions. Seven shareholder derivative actions relating to the Firm’s MBS activities have been filed to date against the Firm, as nominal defendant, and certain of its current and former officers and members of its Board of Directors, in New York state court and California federal court. In one of the actions, the Firm’s motion to dismiss was granted and the dismissal was affirmed on appeal. Defendants have filed, or intend to file, motions to dismiss the remaining actions. | |
Government Enforcement Investigations and Litigation. The Firm resolved actual and potential civil claims by the DOJ and several State Attorneys General relating to residential mortgage-backed securities activities by JPMC, Bear Stearns and Washington Mutual, in addition to resolving litigation by the Federal Housing Finance Agency, the Federal Deposit Insurance Corporation and the National Credit Union Administration. The Firm paid a total of $9.0 billion, which is comprised of a $2.0 billion civil monetary penalty and $7.0 billion in compensatory payments (including $4.0 billion to resolve the Federal Housing Finance Agency litigation) and made a commitment to provide $4.0 billion in borrower relief before the end of 2017. In connection with this settlement, including the resolution of litigation by the Federal Housing Finance Agency, the Federal Deposit Insurance Corporation and the National Credit Union Administration, the Firm agreed to waive its right to seek indemnification from the Federal Deposit Insurance Corporation, in its capacity as receiver for Washington Mutual Bank and in its corporate capacity, with respect to any portion of this settlement relating to residential mortgage-backed securities activities of Washington Mutual Bank. The Firm retained its rights to seek indemnification from the Federal Deposit Insurance Corporation for all other liabilities relating to the residential mortgage-backed securities activities of Washington Mutual Bank. | |
Simultaneously with the resolution of litigation by the Federal Housing Finance Agency, the Firm also agreed to resolve Fannie Mae’s and Freddie Mac’s repurchase claims associated with whole loan purchases from 2000 to 2008, for $1.1 billion. | |
The Firm is responding to an ongoing investigation being conducted by the Criminal Division of the United States Attorney’s Office for the Eastern District of California relating to MBS offerings securitized and sold by the Firm and its subsidiaries. The Firm has also received other subpoenas and informal requests for information from federal and state authorities concerning the issuance and underwriting of MBS-related matters. The Firm continues to respond to these MBS-related regulatory inquiries. | |
In addition, the Firm is responding to and cooperating with requests for information from the U.S. Attorney’s Office for the District of Connecticut, subpoenas and requests from the SEC Division of Enforcement, and a request from the Office of the Special Inspector General for the Troubled Asset Relief Program to conduct a review of certain activities, all of which relate to, among other matters, communications with counterparties in connection with certain secondary market trading in MBS. | |
The Firm has entered into agreements with a number of entities that purchased MBS that toll applicable limitations periods with respect to their claims, and has settled, and in the future may settle, tolled claims. There is no assurance that the Firm will not be named as a defendant in additional MBS-related litigation. | |
Mortgage-Related Investigations and Litigation. The Attorney General of Massachusetts filed an action against the Firm, other servicers and a mortgage recording company, asserting claims for various alleged wrongdoings relating to mortgage assignments and use of the industry’s electronic mortgage registry. The court granted in part and denied in part the defendants’ motion to dismiss the action, which remains pending. | |
The Firm is named as a defendant in a purported class action lawsuit relating to its mortgage foreclosure procedures. The plaintiffs have moved for class certification. | |
Two shareholder derivative actions have been filed in New York Supreme Court against the Firm’s Board of Directors alleging that the Board failed to exercise adequate oversight as to wrongful conduct by the Firm regarding mortgage servicing. These actions seek declaratory relief and damages. In October 2012, the Court consolidated the actions and stayed all proceedings pending the plaintiffs’ decision whether to file a consolidated complaint after the Firm completes its response to a demand submitted by one of the plaintiffs under Section 220 of the Delaware General Corporation Law. | |
In February 2014, the Firm entered into a settlement with the United States Attorney’s Office for the Southern District of New York, the Federal Housing Administration (“FHA”), the United States Department of Housing and Urban Development (“HUD”) and the United States Department of Veterans Affairs (“VA”) resolving claims relating to the Firm’s participation in federal mortgage insurance programs overseen by FHA, HUD and VA. Under the settlement, JPMorgan Chase will pay $614 million and agree to enhance its quality control program for loans that are submitted in the future to FHA’s Direct Endorsement Lender program. This settlement releases the Firm from False Claims Act, FIRREA and other civil and administrative liability for FHA and VA insurance claims that have been paid to JPMorgan Chase since 2002 through the date of the settlement. | |
The Civil Division of the United States Attorney’s Office for the Southern District of New York is conducting an investigation concerning the Firm’s compliance with the Fair Housing Act (“FHA”) and Equal Credit Opportunity Act (“ECOA”) in connection with its mortgage lending practices. In addition, two municipalities are pursuing investigations into the impact, if any, of alleged violations of the FHA and ECOA on their respective communities. The Firm is cooperating in these investigations. | |
Municipal Derivatives Litigation. Several civil actions were commenced in New York and Alabama courts against the Firm relating to certain Jefferson County, Alabama (the “County”) warrant underwritings and swap transactions. The claims in the civil actions generally alleged that the Firm made payments to certain third parties in exchange for being chosen to underwrite more than $3 billion in warrants issued by the County and to act as the counterparty for certain swaps executed by the County. The County filed for bankruptcy in November 2011. In June 2013, the County filed a Chapter 9 Plan of Adjustment, as amended (the “Plan of Adjustment”), which provided that all the above-described actions against the Firm would be released and dismissed with prejudice. In November 2013, the Bankruptcy Court confirmed the Plan of Adjustment, and in December 2013, certain sewer rate payers filed an appeal challenging the confirmation of the Plan of Adjustment. All conditions to the Plan of Adjustment’s effectiveness, including the dismissal of the actions against the Firm, were satisfied or waived and the transactions contemplated by the Plan of Adjustment occurred in December 2013. Accordingly, all the above-described actions against the Firm have been dismissed pursuant to the terms of the Plan of Adjustment. The appeal of the Bankruptcy Court’s order confirming the Plan of Adjustment remains pending. | |
Petters Bankruptcy and Related Matters. JPMorgan Chase and certain of its affiliates, including One Equity Partners (“OEP”), have been named as defendants in several actions filed in connection with the receivership and bankruptcy proceedings pertaining to Thomas J. Petters and certain affiliated entities (collectively, “Petters”) and the Polaroid Corporation. The principal actions against JPMorgan Chase and its affiliates have been brought by a court-appointed receiver for Petters and the trustees in bankruptcy proceedings for three Petters entities. These actions generally seek to avoid certain purported transfers in connection with (i) the 2005 acquisition by Petters of Polaroid, which at the time was majority-owned by OEP; (ii) two credit facilities that JPMorgan Chase and other financial institutions entered into with Polaroid; and (iii) a credit line and investment accounts held by Petters. The actions collectively seek recovery of approximately $450 million. Defendants have moved to dismiss the complaints in the actions filed by the Petters bankruptcy trustees. | |
Power Matters. The United States Attorney’s Office for the Southern District of New York is investigating matters relating to the bidding activities that were the subject of the July 2013 settlement between J.P. Morgan Ventures Energy Corp. and the Federal Energy Regulatory Commission. The Firm is cooperating with the investigation. | |
Referral Hiring Practices Investigations. The SEC and DOJ are investigating, among other things, the Firm’s compliance with the Foreign Corrupt Practices Act and other laws with respect to the Firm’s hiring practices related to candidates referred by clients, potential clients and government officials, and its engagement of consultants in the Asia Pacific region. The Firm is cooperating with these investigations. Separate inquiries on these or similar topics have been made by other authorities, including authorities in other jurisdictions, and the Firm is responding to those inquiries. | |
Sworn Documents, Debt Sales and Collection Litigation Practices. The Firm has been responding to formal and informal inquiries from various state and federal regulators regarding practices involving credit card collections litigation (including with respect to sworn documents), the sale of consumer credit card debt and securities backed by credit card receivables. In September 2013, JPMorgan Chase Bank, N.A., Chase Bank USA, N.A. and JPMorgan Bank and Trust Company, N.A. (collectively, the “Banks”) entered into a consent order with the OCC regarding collections litigation processes pursuant to which the Banks agreed to take certain corrective actions in connection with certain of JPMorgan Chase’s credit card, student loan, auto loan, business banking and commercial banking customers who defaulted on their loan or contract. | |
Separately, the Consumer Financial Protection Bureau and multiple state Attorneys General are conducting investigations into the Firm’s collection and sale of consumer credit card debt. The California and Mississippi Attorneys General have filed separate civil actions against JPMorgan Chase & Co., Chase Bank USA, N.A. and Chase BankCard Services, Inc. alleging violations of law relating to debt collection practices. | |
Washington Mutual Litigations. Proceedings related to Washington Mutual’s failure are pending before the United States District Court for the District of Columbia and include a lawsuit brought by Deutsche Bank National Trust Company, initially against the FDIC, asserting an estimated $6 billion to $10 billion in damages based upon alleged breach of various mortgage securitization agreements and alleged violation of certain representations and warranties given by certain Washington Mutual, Inc. (“WMI”) subsidiaries in connection with those securitization agreements. The case includes assertions that JPMorgan Chase may have assumed liabilities for the alleged breaches of representations and warranties in the mortgage securitization agreements. The District Court denied as premature motions by the Firm and the FDIC that sought a ruling on whether the FDIC retained liability for Deutsche Bank’s claims. Discovery is underway. | |
An action filed by certain holders of Washington Mutual Bank debt against JPMorgan Chase, which alleged that JPMorgan Chase acquired substantially all of the assets of Washington Mutual Bank from the FDIC at a price that was allegedly too low, remains pending. JPMorgan Chase and the FDIC moved to dismiss this action and the District Court dismissed the case except as to the plaintiffs’ claim that the Firm tortiously interfered with the plaintiffs’ bond contracts with Washington Mutual Bank prior to its closure. Discovery is ongoing. | |
JPMorgan Chase has also filed a complaint in the United States District Court for the District of Columbia against the FDIC in its capacity as receiver for Washington Mutual Bank and in its corporate capacity asserting multiple claims for indemnification under the terms of the Purchase & Assumption Agreement between JPMorgan Chase and the FDIC relating to JPMorgan Chase’s purchase of most of the assets and certain liabilities of Washington Mutual Bank. | |
* * * | |
In addition to the various legal proceedings discussed above, JPMorgan Chase and its subsidiaries are named as defendants or are otherwise involved in a substantial number of other legal proceedings. The Firm believes it has meritorious defenses to the claims asserted against it in its currently outstanding legal proceedings and it intends to defend itself vigorously in all such matters. Additional legal proceedings may be initiated from time to time in the future. | |
The Firm has established reserves for several hundred of its currently outstanding legal proceedings. The Firm accrues for potential liability arising from such proceedings when it is probable that such liability has been incurred and the amount of the loss can be reasonably estimated. The Firm evaluates its outstanding legal proceedings each quarter to assess its litigation reserves, and makes adjustments in such reserves, upwards or downwards, as appropriate, based on management’s best judgment after consultation with counsel. During the years ended December 31, 2013, 2012 and 2011, the Firm incurred $11.1 billion, $5.0 billion and $4.9 billion, respectively, of legal expense. There is no assurance that the Firm’s litigation reserves will not need to be adjusted in the future. | |
In view of the inherent difficulty of predicting the outcome of legal proceedings, particularly where the claimants seek very large or indeterminate damages, or where the matters present novel legal theories, involve a large number of parties or are in early stages of discovery, the Firm cannot state with confidence what will be the eventual outcomes of the currently pending matters, the timing of their ultimate resolution or the eventual losses, fines, penalties or impact related to those matters. JPMorgan Chase believes, based upon its current knowledge, after consultation with counsel and after taking into account its current litigation reserves, that the legal proceedings currently pending against it should not have a material adverse effect on the Firm’s consolidated financial condition. The Firm notes, however, that in light of the uncertainties involved in such proceedings, there is no assurance the ultimate resolution of these matters will not significantly exceed the reserves it has currently accrued; as a result, the outcome of a particular matter may be material to JPMorgan Chase’s operating results for a particular period, depending on, among other factors, the size of the loss or liability imposed and the level of JPMorgan Chase’s income for that period. |
International_Operations
International Operations | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Segments, Geographical Areas [Abstract] | ' | |||||||||||||||||||||
International Operations | ' | |||||||||||||||||||||
International operations | ||||||||||||||||||||||
The following table presents income statement-related and balance sheet-related information for JPMorgan Chase by major international geographic area. The Firm defines international activities for purposes of this footnote presentation as business transactions that involve clients residing outside of the U.S., and the information presented below is based predominantly on the domicile of the client, the location from which the client relationship is managed, or the location of the trading desk. However, many of the Firm’s U.S. operations serve international businesses. | ||||||||||||||||||||||
As the Firm’s operations are highly integrated, estimates and subjective assumptions have been made to apportion revenue and expense between U.S. and international operations. These estimates and assumptions are consistent with the allocations used for the Firm’s segment reporting as set forth in Note 33 on pages 334–337 of this Annual Report. | ||||||||||||||||||||||
The Firm’s long-lived assets for the periods presented are not considered by management to be significant in relation to total assets. The majority of the Firm’s long-lived assets are located in the United States. | ||||||||||||||||||||||
As of or for the year ended December 31, (in millions) | Revenue(b) | Expense(c) | Income before income tax | Net income | Total assets | |||||||||||||||||
expense | ||||||||||||||||||||||
2013 | ||||||||||||||||||||||
Europe/Middle East and Africa | $ | 15,585 | $ | 9,069 | $ | 6,516 | $ | 4,842 | $ | 514,747 | (d) | |||||||||||
Asia and Pacific | 6,168 | 4,248 | 1,920 | 1,254 | 145,999 | |||||||||||||||||
Latin America and the Caribbean | 2,251 | 1,626 | 625 | 381 | 41,473 | |||||||||||||||||
Total international | 24,004 | 14,943 | 9,061 | 6,477 | 702,219 | |||||||||||||||||
North America(a) | 72,602 | 55,749 | 16,853 | 11,446 | 1,713,470 | |||||||||||||||||
Total | $ | 96,606 | $ | 70,692 | $ | 25,914 | $ | 17,923 | $ | 2,415,689 | ||||||||||||
2012 | ||||||||||||||||||||||
Europe/Middle East and Africa | $ | 10,522 | $ | 9,326 | $ | 1,196 | $ | 1,508 | $ | 553,147 | (d) | |||||||||||
Asia and Pacific | 5,605 | 3,952 | 1,653 | 1,048 | 167,955 | |||||||||||||||||
Latin America and the Caribbean | 2,328 | 1,580 | 748 | 454 | 53,984 | |||||||||||||||||
Total international | 18,455 | 14,858 | 3,597 | 3,010 | 775,086 | |||||||||||||||||
North America(a) | 78,576 | 53,256 | 25,320 | 18,274 | 1,584,055 | |||||||||||||||||
Total | $ | 97,031 | $ | 68,114 | $ | 28,917 | $ | 21,284 | $ | 2,359,141 | ||||||||||||
2011 | ||||||||||||||||||||||
Europe/Middle East and Africa | $ | 16,212 | $ | 9,157 | $ | 7,055 | $ | 4,844 | $ | 566,866 | (d) | |||||||||||
Asia and Pacific | 5,992 | 3,802 | 2,190 | 1,380 | 156,411 | |||||||||||||||||
Latin America and the Caribbean | 2,273 | 1,711 | 562 | 340 | 51,481 | |||||||||||||||||
Total international | 24,477 | 14,670 | 9,807 | 6,564 | 774,758 | |||||||||||||||||
North America(a) | 72,757 | 55,815 | 16,942 | 12,412 | 1,491,034 | |||||||||||||||||
Total | $ | 97,234 | $ | 70,485 | $ | 26,749 | $ | 18,976 | $ | 2,265,792 | ||||||||||||
(a) | Substantially reflects the U.S. | |||||||||||||||||||||
(b) | Revenue is composed of net interest income and noninterest revenue. | |||||||||||||||||||||
(c) | Expense is composed of noninterest expense and the provision for credit losses. | |||||||||||||||||||||
(d) | Total assets for the U.K. were approximately $451 billion, $498 billion, and $510 billion at December 31, 2013, 2012 and 2011, respectively. |
Business_Segments
Business Segments | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||
Business Segments | ' | ||||||||||||||||||||||||||||||||||||||
Business segments | |||||||||||||||||||||||||||||||||||||||
The Firm is managed on a line of business basis. There are four major reportable business segments – Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. In addition, there is a Corporate/Private Equity segment. The business segments are determined based on the products and services provided, or the type of customer served, and they reflect the manner in which financial information is currently evaluated by management. Results of these lines of business are presented on a managed basis. For a definition of managed basis, see Explanation and Reconciliation of the Firm’s use of non-GAAP financial measures, on pages 82–83 of this Annual Report. For a further discussion concerning JPMorgan Chase’s business segments, see Business Segment Results on pages 84–85 of this Annual Report. | |||||||||||||||||||||||||||||||||||||||
The following is a description of each of the Firm’s business segments, and the products and services they provide to their respective client bases. | |||||||||||||||||||||||||||||||||||||||
Consumer & Community Banking | |||||||||||||||||||||||||||||||||||||||
CCB serves consumers and businesses through personal service at bank branches and through ATMs, online, mobile and telephone banking. CCB is organized into Consumer & Business Banking, Mortgage Banking (including Mortgage Production, Mortgage Servicing and Real Estate Portfolios) and Card. Consumer & Business Banking offers deposit and investment products and services to consumers, and lending, deposit, and cash management and payment solutions to small businesses. Mortgage Banking includes mortgage origination and servicing activities, as well as portfolios comprised of residential mortgages and home equity loans, including the PCI portfolio acquired in the Washington Mutual transaction. Card issues credit cards to consumers and small businesses, provides payment services to corporate and public sector clients through its commercial card products, offers payment processing services to merchants, and provides auto and student loan services. | |||||||||||||||||||||||||||||||||||||||
Corporate & Investment Bank | |||||||||||||||||||||||||||||||||||||||
CIB offers a broad suite of investment banking, market-making, prime brokerage, and treasury and securities products and services to a global client base of corporations, investors, financial institutions, government and municipal entities. Within Banking, the CIB offers a full range of investment banking products and services in all major capital markets, including advising on corporate strategy and structure, capital-raising in equity and debt markets, as well as loan origination and syndication. Also included in Banking is Treasury Services, which includes transaction services, comprised primarily of cash management and liquidity solutions, and trade finance products. The Markets & Investor Services segment of the CIB is a global market-maker in cash securities and derivative instruments, and also offers sophisticated risk management solutions, prime brokerage, and research. Markets & Investor Services also includes the Securities Services business, a leading global custodian which holds, values, clears and services securities, cash and alternative investments for investors and broker-dealers, and manages depositary receipt programs globally. | |||||||||||||||||||||||||||||||||||||||
Commercial Banking | |||||||||||||||||||||||||||||||||||||||
CB delivers extensive industry knowledge, local expertise and dedicated service to U.S. and U.S. multinational clients, including corporations, municipalities, financial institutions and non-profit entities with annual revenue generally ranging from$20 million to $2.0 billion. CB provides financing to real estate investors and owners. Partnering with the Firm’s other businesses, CB provides comprehensive financial solutions, including lending, treasury services, investment banking and asset management to meet its clients’ domestic and international financial needs. | |||||||||||||||||||||||||||||||||||||||
Asset Management | |||||||||||||||||||||||||||||||||||||||
AM, with client assets of $2.3 trillion, is a global leader in investment and wealth management. AM clients include institutions, high-net-worth individuals and retail investors in every major market throughout the world. AM offers investment management across all major asset classes including equities, fixed income, alternatives and money market funds. AM also offers multi-asset investment management, providing solutions to a broad range of clients’ investment needs. For individual investors, AM also provides retirement products and services, brokerage and banking services including trusts and estates, loans, mortgages and deposits. The majority of AM’s client assets are in actively managed portfolios. | |||||||||||||||||||||||||||||||||||||||
Corporate/Private Equity | |||||||||||||||||||||||||||||||||||||||
The Corporate/Private Equity segment comprises Private Equity, Treasury and CIO, and Other Corporate, which includes corporate staff units and expense that is centrally managed. Treasury and CIO are predominantly responsible for measuring, monitoring, reporting and managing the Firm’s liquidity, funding and structural interest rate and foreign exchange risks, as well as executing the Firm’s capital plan. The major Other Corporate units include Real Estate, Central Technology, Legal, Compliance, Finance, Human Resources, Internal Audit, Risk Management, Oversight & Control, Corporate Responsibility and various Other Corporate groups. Other centrally managed expense includes the Firm’s occupancy and pension-related expense that are subject to allocation to the businesses. | |||||||||||||||||||||||||||||||||||||||
Segment results | |||||||||||||||||||||||||||||||||||||||
The following tables provide a summary of the Firm’s segment results for 2013, 2012 and 2011 on a managed basis. Total net revenue (noninterest revenue and net interest income) for each of the segments is presented on a fully taxable-equivalent (“FTE”) basis. Accordingly, revenue from investments that receive tax credits and tax-exempt securities is presented on a basis comparable to taxable investments and securities; this non-GAAP financial measure allows management to assess the comparability of revenue arising from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-exempt items is recorded within income tax expense/(benefit). | |||||||||||||||||||||||||||||||||||||||
The increase in equity levels for the lines of businesses since December 31, 2012, is largely driven by the evolving regulatory requirements and higher capital targets the firm has established under Basel III Advanced approach. | |||||||||||||||||||||||||||||||||||||||
Segment results and reconciliation(a) | |||||||||||||||||||||||||||||||||||||||
As of or the year ended | Consumer & Community Banking(b) | Corporate & Investment Bank | Commercial Banking | ||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||
Noninterest revenue | $ | 17,552 | $ | 20,813 | $ | 15,314 | $ | 23,810 | $ | 23,104 | $ | 22,523 | $ | 2,298 | $ | 2,283 | $ | 2,195 | |||||||||||||||||||||
Net interest income | 28,474 | 29,071 | 30,305 | 10,415 | 11,222 | 11,461 | 4,675 | 4,542 | 4,223 | ||||||||||||||||||||||||||||||
Total net revenue | 46,026 | 49,884 | 45,619 | 34,225 | 34,326 | 33,984 | 6,973 | 6,825 | 6,418 | ||||||||||||||||||||||||||||||
Provision for credit losses | 335 | 3,774 | 7,620 | (232 | ) | (479 | ) | (285 | ) | 85 | 41 | 208 | |||||||||||||||||||||||||||
Noninterest expense | 27,842 | 28,827 | 27,637 | 21,744 | 21,850 | 21,979 | 2,610 | 2,389 | 2,278 | ||||||||||||||||||||||||||||||
Income/(loss) before income tax expense/(benefit) | 17,849 | 17,283 | 10,362 | 12,713 | 12,955 | 12,290 | 4,278 | 4,395 | 3,932 | ||||||||||||||||||||||||||||||
Income tax expense/(benefit) | 7,100 | 6,732 | 4,257 | 4,167 | 4,549 | 4,297 | 1,703 | 1,749 | 1,565 | ||||||||||||||||||||||||||||||
Net income/(loss) | $ | 10,749 | $ | 10,551 | $ | 6,105 | $ | 8,546 | $ | 8,406 | $ | 7,993 | $ | 2,575 | $ | 2,646 | $ | 2,367 | |||||||||||||||||||||
Average common equity | $ | 46,000 | $ | 43,000 | $ | 41,000 | $ | 56,500 | $ | 47,500 | $ | 47,000 | $ | 13,500 | $ | 9,500 | $ | 8,000 | |||||||||||||||||||||
Total assets | 452,929 | 467,282 | 486,697 | 843,577 | 876,107 | 845,095 | 190,782 | 181,502 | 158,040 | ||||||||||||||||||||||||||||||
Return on average common equity | 23 | % | 25 | % | 15 | % | 15 | % | 18 | % | 17 | % | 19 | % | 28 | % | 30 | % | |||||||||||||||||||||
Overhead ratio | 60 | 58 | 61 | 64 | 64 | 65 | 37 | 35 | 35 | ||||||||||||||||||||||||||||||
(a) | Managed basis starts with the reported U.S. GAAP results and includes certain reclassifications as discussed below that do not have any impact on net income as reported by the lines of business or by the Firm as a whole. | ||||||||||||||||||||||||||||||||||||||
(b) | The 2012 and 2011 data for certain income statement line items (predominantly net interest income, compensation and noncompensation expense) and balance sheet items were revised to reflect the transfer of certain technology and operations, as well as real estate-related functions and staff, from Corporate/Private Equity to CCB, effective January 1, 2013. | ||||||||||||||||||||||||||||||||||||||
(c) | Segment managed results reflect revenue on a FTE basis with the corresponding income tax impact recorded within income tax expense/(benefit). These adjustments are eliminated in reconciling items to arrive at the Firm’s reported U.S. GAAP results. | ||||||||||||||||||||||||||||||||||||||
(table continued from previous page) | |||||||||||||||||||||||||||||||||||||||
Asset Management | Corporate/Private Equity(b) | Reconciling Items(c) | Total | ||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
$ | 9,029 | $ | 7,847 | $ | 7,895 | $ | 3,093 | $ | 190 | $ | 3,621 | $ | (2,495 | ) | $ | (2,116 | ) | $ | (2,003 | ) | $ | 53,287 | $ | 52,121 | $ | 49,545 | |||||||||||||
2,291 | 2,099 | 1,648 | (1,839 | ) | (1,281 | ) | 582 | (697 | ) | (743 | ) | (530 | ) | 43,319 | 44,910 | 47,689 | |||||||||||||||||||||||
11,320 | 9,946 | 9,543 | 1,254 | (1,091 | ) | 4,203 | (3,192 | ) | (2,859 | ) | (2,533 | ) | 96,606 | 97,031 | 97,234 | ||||||||||||||||||||||||
65 | 86 | 67 | (28 | ) | (37 | ) | (36 | ) | — | — | — | 225 | 3,385 | 7,574 | |||||||||||||||||||||||||
8,016 | 7,104 | 7,002 | 10,255 | 4,559 | 4,015 | — | — | — | 70,467 | 64,729 | 62,911 | ||||||||||||||||||||||||||||
3,239 | 2,756 | 2,474 | (8,973 | ) | (5,613 | ) | 224 | (3,192 | ) | (2,859 | ) | (2,533 | ) | 25,914 | 28,917 | 26,749 | |||||||||||||||||||||||
1,208 | 1,053 | 882 | (2,995 | ) | (3,591 | ) | (695 | ) | (3,192 | ) | (2,859 | ) | (2,533 | ) | 7,991 | 7,633 | 7,773 | ||||||||||||||||||||||
$ | 2,031 | $ | 1,703 | $ | 1,592 | $ | (5,978 | ) | $ | (2,022 | ) | $ | 919 | $ | — | $ | — | $ | — | $ | 17,923 | $ | 21,284 | $ | 18,976 | ||||||||||||||
$ | 9,000 | $ | 7,000 | $ | 6,500 | $ | 71,409 | $ | 77,352 | $ | 70,766 | $ | — | $ | — | $ | — | $ | 196,409 | $ | 184,352 | $ | 173,266 | ||||||||||||||||
122,414 | 108,999 | 86,242 | 805,987 | 725,251 | 689,718 | NA | NA | NA | 2,415,689 | 2,359,141 | 2,265,792 | ||||||||||||||||||||||||||||
23 | % | 24 | % | 25 | % | NM | NM | NM | NM | NM | NM | 9 | % | 11 | % | 11 | % | ||||||||||||||||||||||
71 | 71 | 73 | NM | NM | NM | NM | NM | NM | 73 | 67 | 65 | ||||||||||||||||||||||||||||
Parent_Company
Parent Company | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Parent Company | ' | ||||||||||||
Parent company | |||||||||||||
Parent company – Statements of income and comprehensive income | |||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | ||||||||||
(in millions) | |||||||||||||
Income | |||||||||||||
Dividends from subsidiaries and affiliates: | |||||||||||||
Bank and bank holding company | $ | 1,175 | $ | 4,828 | $ | 10,852 | |||||||
Nonbank(a) | 876 | 1,972 | 2,651 | ||||||||||
Interest income from subsidiaries | 757 | 1,041 | 1,099 | ||||||||||
Other interest income | 303 | 293 | 384 | ||||||||||
Other income from subsidiaries, | |||||||||||||
primarily fees: | |||||||||||||
Bank and bank holding company | 318 | 939 | 809 | ||||||||||
Nonbank | 2,065 | 1,207 | 92 | ||||||||||
Other income/(loss) | (1,380 | ) | 579 | (85 | ) | ||||||||
Total income | 4,114 | 10,859 | 15,802 | ||||||||||
Expense | |||||||||||||
Interest expense to subsidiaries and affiliates(a) | 309 | 836 | 1,121 | ||||||||||
Other interest expense | 4,031 | 4,679 | 4,447 | ||||||||||
Other noninterest expense | 9,597 | 2,399 | 649 | ||||||||||
Total expense | 13,937 | 7,914 | 6,217 | ||||||||||
Income (loss) before income tax benefit and undistributed net income of subsidiaries | (9,823 | ) | 2,945 | 9,585 | |||||||||
Income tax benefit | 4,301 | 1,665 | 1,089 | ||||||||||
Equity in undistributed net income of subsidiaries | 23,445 | 16,674 | 8,302 | ||||||||||
Net income | $ | 17,923 | $ | 21,284 | $ | 18,976 | |||||||
Other comprehensive income, net | (2,903 | ) | 3,158 | (57 | ) | ||||||||
Comprehensive income | $ | 15,020 | $ | 24,442 | $ | 18,919 | |||||||
Parent company – Balance sheets | |||||||||||||
December 31, (in millions) | 2013 | 2012 | |||||||||||
Assets | |||||||||||||
Cash and due from banks | $ | 264 | $ | 216 | |||||||||
Deposits with banking subsidiaries | 64,843 | 75,521 | |||||||||||
Trading assets | 13,727 | 8,128 | |||||||||||
Available-for-sale securities | 15,228 | 3,541 | |||||||||||
Loans | 2,829 | 2,101 | |||||||||||
Advances to, and receivables from, subsidiaries: | |||||||||||||
Bank and bank holding company | 21,693 | 39,773 | |||||||||||
Nonbank | 68,788 | 86,904 | |||||||||||
Investments (at equity) in subsidiaries and affiliates:(b) | |||||||||||||
Bank and bank holding company | 196,950 | 170,297 | |||||||||||
Nonbank(a) | 50,996 | 46,302 | |||||||||||
Other assets | 18,877 | 16,481 | |||||||||||
Total assets | $ | 454,195 | $ | 449,264 | |||||||||
Liabilities and stockholders’ equity | |||||||||||||
Borrowings from, and payables to, subsidiaries and affiliates(a) | $ | 14,328 | $ | 16,744 | |||||||||
Other borrowed funds, primarily commercial paper | 55,454 | 62,010 | |||||||||||
Other liabilities | 11,367 | 8,208 | |||||||||||
Long-term debt(c)(d) | 161,868 | 158,233 | |||||||||||
Total liabilities(d) | 243,017 | 245,195 | |||||||||||
Total stockholders’ equity | 211,178 | 204,069 | |||||||||||
Total liabilities and stockholders’ equity | $ | 454,195 | $ | 449,264 | |||||||||
Parent company – Statements of cash flows | |||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | ||||||||||
(in millions) | |||||||||||||
Operating activities | |||||||||||||
Net income | $ | 17,923 | $ | 21,284 | $ | 18,976 | |||||||
Less: Net income of subsidiaries and affiliates(a) | 25,496 | 23,474 | 21,805 | ||||||||||
Parent company net loss | (7,573 | ) | (2,190 | ) | (2,829 | ) | |||||||
Cash dividends from subsidiaries and affiliates(a) | 1,917 | 6,798 | 13,414 | ||||||||||
Other operating adjustments(b) | 3,180 | 2,376 | 860 | ||||||||||
Net cash (used in)/provided by operating activities(b) | (2,476 | ) | 6,984 | 11,445 | |||||||||
Investing activities | |||||||||||||
Net change in: | |||||||||||||
Deposits with banking subsidiaries | 10,679 | 16,100 | 20,866 | ||||||||||
Available-for-sale securities: | |||||||||||||
Proceeds from paydowns and maturities | 61 | 621 | 886 | ||||||||||
Purchases | (12,009 | ) | (364 | ) | (1,109 | ) | |||||||
Other changes in loans, net | (713 | ) | (350 | ) | 153 | ||||||||
Advances to subsidiaries, net | 13,769 | 5,951 | (28,105 | ) | |||||||||
Investments (at equity) in subsidiaries and affiliates, net(a) | 700 | 3,546 | (1,530 | ) | |||||||||
All other investing activities, net(b) | 22 | 25 | 29 | ||||||||||
Net cash provided by/(used in) investing activities(b) | 12,509 | 25,529 | (8,810 | ) | |||||||||
Financing activities | |||||||||||||
Net change in: | |||||||||||||
Borrowings from subsidiaries and affiliates(a) | (2,715 | ) | (14,038 | ) | 2,827 | ||||||||
Other borrowed funds | (7,297 | ) | 3,736 | 16,268 | |||||||||
Proceeds from the issuance of long-term debt | 31,303 | 28,172 | 33,566 | ||||||||||
Payments of long-term debt | (21,510 | ) | (44,240 | ) | (41,747 | ) | |||||||
Excess tax benefits related to stock-based compensation | 137 | 255 | 867 | ||||||||||
Proceeds from issuance of preferred stock | 3,873 | 1,234 | — | ||||||||||
Redemption of preferred stock | (1,800 | ) | — | — | |||||||||
Treasury stock and warrants repurchased | (4,789 | ) | (1,653 | ) | (8,863 | ) | |||||||
Dividends paid | (6,056 | ) | (5,194 | ) | (3,895 | ) | |||||||
All other financing activities, net | (1,131 | ) | (701 | ) | (1,622 | ) | |||||||
Net cash used in financing activities | (9,985 | ) | (32,429 | ) | (2,599 | ) | |||||||
Net increase in cash and due from banks | 48 | 84 | 36 | ||||||||||
Cash and due from banks at the beginning of the year, primarily with bank subsidiaries | 216 | 132 | 96 | ||||||||||
Cash and due from banks at the end of the year, primarily with bank subsidiaries | $ | 264 | $ | 216 | $ | 132 | |||||||
Cash interest paid | $ | 4,409 | $ | 5,690 | $ | 5,800 | |||||||
Cash income taxes paid, net | 2,390 | 3,080 | 5,885 | ||||||||||
(a) | Affiliates include trusts that issued guaranteed capital debt securities (“issuer trusts”). The Parent received dividends of $5 million, $12 million and $13 million from the issuer trusts in 2013, 2012 and 2011, respectively. For further discussion on these issuer trusts, see Note 21 on pages 306–308 of this Annual Report. | ||||||||||||
(b) | Prior periods were revised to conform with the current presentation. | ||||||||||||
(c) | At December 31, 2013, long-term debt that contractually matures in 2014 through 2018 totaled $26.4 billion, $23.8 billion, $22.5 billion, $16.6 billion and $18.7 billion, respectively. | ||||||||||||
(d) | For information regarding the Firm’s guarantees of its subsidiaries’ obligations, see Note 21 and Note 29 on pages 306–308 and 318–324, respectively, of this Annual Report. |
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Basis of Presentation [Abstract] | ' |
Basis of presentation policy | ' |
The accounting and financial reporting policies of JPMorgan Chase and its subsidiaries conform to accounting principles generally accepted in the U.S. (“U.S. GAAP”). Additionally, where applicable, the policies conform to the accounting and reporting guidelines prescribed by regulatory authorities. | |
Reclassifications policy | ' |
Certain amounts reported in prior periods have been reclassified to conform with the current presentation. | |
Consolidation policy | ' |
Consolidation | |
The Consolidated Financial Statements include the accounts of JPMorgan Chase and other entities in which the Firm has a controlling financial interest. All material intercompany balances and transactions have been eliminated. The Firm determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity (“VIE”). | |
Voting Interest Entities | |
Voting interest entities are entities that have sufficient equity and provide the equity investors voting rights that enable them to make significant decisions relating to the entity’s operations. For these types of entities, the Firm’s determination of whether it has a controlling interest is primarily based on the amount of voting equity interests held. Entities in which the Firm has a controlling financial interest, through ownership of the majority of the entities’ voting equity interests, or through other contractual rights that give the Firm control, are consolidated by the Firm. | |
Investments in companies in which the Firm has significant influence over operating and financing decisions (but does not own a majority of the voting equity interests) are accounted for (i) in accordance with the equity method of accounting (which requires the Firm to recognize its proportionate share of the entity’s net earnings), or (ii) at fair value if the fair value option was elected. These investments are generally included in other assets, with income or loss included in other income. | |
Certain Firm-sponsored asset management funds are structured as limited partnerships or limited liability companies. For many of these entities, the Firm is the general partner or managing member, but the non-affiliated partners or members have the ability to remove the Firm as the general partner or managing member without cause (i.e., kick-out rights), based on a simple majority vote, or the non-affiliated partners or members have rights to participate in important decisions. Accordingly, the Firm does not consolidate these funds. In the limited cases where the nonaffiliated partners or members do not have substantive kick-out or participating rights, the Firm consolidates the funds. | |
The Firm’s investment companies make investments in both publicly-held and privately-held entities, including investments in buyouts, growth equity and venture opportunities. These investments are accounted for under investment company guidelines and accordingly, irrespective of the percentage of equity ownership interests held, are carried on the Consolidated Balance Sheets at fair value, and are recorded in other assets. | |
Variable Interest Entities | |
VIEs are entities that, by design, either (1) lack sufficient equity to permit the entity to finance its activities without additional subordinated financial support from other parties, or (2) have equity investors that do not have the ability to make significant decisions relating to the entity’s operations through voting rights, or do not have the obligation to absorb the expected losses, or do not have the right to receive the residual returns of the entity. | |
The most common type of VIE is a special purpose entity (“SPE”). SPEs are commonly used in securitization transactions in order to isolate certain assets and distribute the cash flows from those assets to investors. The basic SPE structure involves a company selling assets to the SPE; the SPE funds the purchase of those assets by issuing securities to investors. The legal documents that govern the transaction specify how the cash earned on the assets must be allocated to the SPE’s investors and other parties that have rights to those cash flows. SPEs are generally structured to insulate investors from claims on the SPE’s assets by creditors of other entities, including the creditors of the seller of the assets. | |
The primary beneficiary of a VIE (i.e., the party that has a controlling financial interest) is required to consolidate the assets and liabilities of the VIE. The primary beneficiary is the party that has both (1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance; and (2) through its interests in the VIE, the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. | |
To assess whether the Firm has the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance, the Firm considers all the facts and circumstances, including its role in establishing the VIE and its ongoing rights and responsibilities. This assessment includes, first, identifying the activities that most significantly impact the VIE’s economic performance; and second, identifying which party, if any, has power over those activities. In general, the parties that make the most significant decisions affecting the VIE (such as asset managers, collateral managers, servicers, or owners of call options or liquidation rights over the VIE’s assets) or have the right to unilaterally remove those decision-makers are deemed to have the power to direct the activities of a VIE. | |
To assess whether the Firm has the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE, the Firm considers all of its economic interests, including debt and equity investments, servicing fees, and derivative or other arrangements deemed to be variable interests in the VIE. This assessment requires that the Firm apply judgment in determining whether these interests, in the aggregate, are considered potentially significant to the VIE. Factors considered in assessing significance include: the design of the VIE, including its capitalization structure; subordination of interests; payment priority; relative share of interests held across various classes within the VIE’s capital structure; and the reasons why the interests are held by the Firm. | |
The Firm performs on-going reassessments of: (1) whether entities previously evaluated under the majority voting-interest framework have become VIEs, based on certain events, and therefore subject to the VIE consolidation framework; and (2) whether changes in the facts and circumstances regarding the Firm’s involvement with a VIE cause the Firm’s consolidation conclusion to change. | |
In January 2010, the Financial Accounting Standards Board (“FASB”) issued an amendment which deferred the requirements of the accounting guidance for VIEs for certain investment funds, including mutual funds, private equity funds and hedge funds. For the funds to which the deferral applies, the Firm continues to apply other existing authoritative accounting guidance to determine whether such funds should be consolidated. | |
Assets held for clients in an agency or fiduciary capacity by the Firm are not assets of JPMorgan Chase and are not included on the Consolidated Balance Sheets. | |
Use of estimates in the preparation of consolidated financial statements policy | ' |
Use of estimates in the preparation of consolidated financial statements | |
The preparation of the Consolidated Financial Statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expense, and disclosures of contingent assets and liabilities. Actual results could be different from these estimates. | |
Foreign currency translation policy | ' |
Foreign currency translation | |
JPMorgan Chase revalues assets, liabilities, revenue and expense denominated in non-U.S. currencies into U.S. dollars using applicable exchange rates. | |
Gains and losses relating to translating functional currency financial statements for U.S. reporting are included in other comprehensive income/(loss) (“OCI”) within stockholders’ equity. Gains and losses relating to nonfunctional currency transactions, including non-U.S. operations where the functional currency is the U.S. dollar, are reported in the Consolidated Statements of Income. | |
Offsetting assets and liabilities policy | ' |
Offsetting assets and liabilities | |
U.S. GAAP permits entities to present derivative receivables and derivative payables with the same counterparty and the related cash collateral receivables and payables on a net basis on the balance sheet when a legally enforceable master netting agreement exists. U.S. GAAP also permits securities sold and purchased under repurchase agreements to be presented net when specified conditions are met, including the existence of a legally enforceable master netting agreement. The Firm has elected to net such balances when the specified conditions are met. | |
The Firm uses master netting agreements to mitigate counterparty credit risk in certain transactions, including derivatives transactions, repurchase and reverse repurchase agreements, and securities borrowed and loaned agreements. A master netting agreement is a single contract with a counterparty that permits multiple transactions governed by that contract to be terminated and settled through a single payment in a single currency in the event of a default (e.g., bankruptcy, failure to make a required payment or securities transfer or deliver collateral or margin when due after expiration of any grace period). Upon the exercise of termination rights by the non-defaulting party, (i) all transactions are terminated, (ii) all transactions are valued and the positive value or “in the money” transactions are netted against the negative value or “out of the money” transactions and (iii) the only remaining payment obligation is of one of the parties to pay the netted termination amount. Upon exercise of repurchase agreement and securities loaned default rights (i) all securities loan transactions are terminated and accelerated, (ii) all values of securities or cash held or to be delivered are calculated, and all such sums are netted against each other and (iii) the only remaining payment obligation is of one of the parties to pay the netted termination amount. | |
Typical master netting agreements for these types of transactions also often contain a collateral/margin agreement that provides for a security interest in or title transfer of securities or cash collateral/margin to the party that has the right to demand margin (the “demanding party”). The collateral/margin agreement typically requires a party to transfer collateral/margin to the demanding party with a value equal to the amount of the margin deficit on a net basis across all transactions governed by the master netting agreement, less any threshold. The collateral/margin agreement grants to the demanding party, upon default by the counterparty, the right to set-off any amounts payable by the counterparty against any posted collateral or the cash equivalent of any posted collateral/margin. It also grants to the demanding party the right to liquidate collateral/margin and to apply the proceeds to an amount payable by the counterparty. | |
Statements of cash flows policy | ' |
Statements of cash flows | |
For JPMorgan Chase’s Consolidated Statements of Cash Flows, cash is defined as those amounts included in cash and due from banks. |
Fair_Value_Measurement_Policie
Fair Value Measurement (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Fair Value Disclosures [Abstract] | ' |
Fair value policy | ' |
All transfers are assumed to occur at the beginning of the quarterly reporting period in which they occur. | |
JPMorgan Chase carries a portion of its assets and liabilities at fair value. These assets and liabilities are predominantly carried at fair value on a recurring basis (i.e., assets and liabilities that are measured and reported at fair value on the Firm’s Consolidated Balance Sheets). Certain assets (e.g., certain mortgage, home equity and other loans, where the carrying value is based on the fair value of the underlying collateral), liabilities and unfunded lending-related commitments are measured at fair value on a nonrecurring basis; that is, they are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances (for example, when there is evidence of impairment). | |
Trading assets and liabilities policy | ' |
Trading assets include debt and equity instruments owned by JPMorgan Chase (“long” positions) that are held for client market-making and client-driven activities, as well as for certain risk management activities, certain loans managed on a fair value basis and for which the Firm has elected the fair value option, and physical commodities inventories that are generally accounted for at the lower of cost or market (market approximates fair value). Trading liabilities include debt and equity instruments that the Firm has sold to other parties but does not own (“short” positions). The Firm is obligated to purchase instruments at a future date to cover the short positions. Included in trading assets and trading liabilities are the reported receivables (unrealized gains) and payables (unrealized losses) related to derivatives. Trading assets and liabilities are carried at fair value on the Consolidated Balance Sheets. Balances reflect the reduction of securities owned (long positions) by the amount of identical securities sold but not yet purchased (short positions). |
Fair_Value_Option_Policies
Fair Value Option (Policies) | 12 Months Ended | |
Dec. 31, 2013 | ||
Fair Value Option [Abstract] | ' | |
Fair value option policy | ' | |
The fair value option provides an option to elect fair value as an alternative measurement for selected financial assets, financial liabilities, unrecognized firm commitments, and written loan commitments not previously carried at fair value. | ||
Elections | ||
Elections were made by the Firm to: | ||
• | Mitigate income statement volatility caused by the differences in the measurement basis of elected instruments (for example, certain instruments elected were previously accounted for on an accrual basis) while the associated risk management arrangements are accounted for on a fair value basis; | |
• | Eliminate the complexities of applying certain accounting models (e.g., hedge accounting or bifurcation accounting for hybrid instruments); and/or | |
• | Better reflect those instruments that are managed on a fair value basis. | |
Elections include the following: | ||
• | Loans purchased or originated as part of securitization warehousing activity, subject to bifurcation accounting, or managed on a fair value basis. | |
• | Securities financing arrangements with an embedded derivative and/or a maturity of greater than one year. | |
• | Owned beneficial interests in securitized financial assets that contain embedded credit derivatives, which would otherwise be required to be separately accounted for as a derivative instrument. | |
• | Certain investments that receive tax credits and other equity investments acquired as part of the Washington Mutual transaction. | |
• | Structured notes issued as part of CIB’s client-driven activities. (Structured notes are predominantly financial instruments that contain embedded derivatives.) | |
• | Long-term beneficial interests issued by CIB’s consolidated securitization trusts where the underlying assets are carried at fair value. |
Derivative_Instruments_Policie
Derivative Instruments (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' |
Derivatives policy | ' |
All free-standing derivatives that the Firm executes for its own account are required to be recorded on the Consolidated Balance Sheets at fair value. For information on the derivatives that the Firm clears for its clients’ accounts, see Note 29 on pages 318–324 of this Annual Report. | |
As permitted under U.S. GAAP, the Firm nets derivative assets and liabilities, and the related cash collateral receivables and payables, when a legally enforceable master netting agreement exists between the Firm and the derivative counterparty. For further discussion of the offsetting of assets and liabilities, see Note 1 on pages 189–191 of this Annual Report. The accounting for changes in value of a derivative depends on whether or not the transaction has been designated and qualifies for hedge accounting. Derivatives that are not designated as hedges are reported and measured at fair value through earnings. The tabular disclosures on pages 223–233 of this Note provide additional information on the amount of, and reporting for, derivative assets, liabilities, gains and losses. For further discussion of derivatives embedded in structured notes, see Notes 3 and 4 on pages 195–215 and 215–218, respectively, of this Annual Report. | |
To qualify for hedge accounting, a derivative must be highly effective at reducing the risk associated with the exposure being hedged. In addition, for a derivative to be designated as a hedge, the risk management objective and strategy must be documented. Hedge documentation must identify the derivative hedging instrument, the asset or liability or forecasted transaction and type of risk to be hedged, and how the effectiveness of the derivative is assessed prospectively and retrospectively. | |
The extent to which a derivative has been, and is expected to continue to be, effective at offsetting changes in the fair value or cash flows of the hedged item must be assessed and documented at least quarterly. Any hedge ineffectiveness (i.e., the amount by which the gain or loss on the designated derivative instrument does not exactly offset the change in the hedged item attributable to the hedged risk) must be reported in current-period earnings. If it is determined that a derivative is not highly effective at hedging the designated exposure, hedge accounting is discontinued. | |
There are three types of hedge accounting designations: fair value hedges, cash flow hedges and net investment hedges. JPMorgan Chase uses fair value hedges primarily to hedge fixed-rate long-term debt, AFS securities and certain commodities inventories. For qualifying fair value hedges, the changes in the fair value of the derivative, and in the value of the hedged item for the risk being hedged, are recognized in earnings. If the hedge relationship is terminated, then the adjustment to the hedged item continues to be reported as part of the basis of the hedged item and for interest-bearing instruments is amortized to earnings as a yield adjustment. Derivative amounts affecting earnings are recognized consistent with the classification of the hedged item – primarily net interest income and principal transactions revenue. | |
JPMorgan Chase uses cash flow hedges primarily to hedge the exposure to variability in forecasted cash flows from floating-rate assets and liabilities and foreign currency–denominated revenue and expense. For qualifying cash flow hedges, the effective portion of the change in the fair value of the derivative is recorded in OCI and recognized in the Consolidated Statements of Income when the hedged cash flows affect earnings. Derivative amounts affecting earnings are recognized consistent with the classification of the hedged item – primarily interest income, interest expense, noninterest revenue and compensation expense. The ineffective portions of cash flow hedges are immediately recognized in earnings. If the hedge relationship is terminated, then the value of the derivative recorded in accumulated other comprehensive income/(loss) (“AOCI”) is recognized in earnings when the cash flows that were hedged affect earnings. For hedge relationships that are discontinued because a forecasted transaction is expected to not occur according to the original hedge forecast, any related derivative values recorded in AOCI are immediately recognized in earnings. | |
JPMorgan Chase uses foreign currency hedges to protect the value of the Firm’s net investments in certain non-U.S. subsidiaries or branches whose functional currencies are not the U.S. dollar. For foreign currency qualifying net investment hedges, changes in the fair value of the derivatives are recorded in the translation adjustments account within AOCI. | |
The Firm applies hedge accounting to certain derivatives executed for risk management purposes – generally interest rate, foreign exchange and commodity derivatives. |
Noninterest_Revenue_Policies
Noninterest Revenue (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Noninterest Income [Abstract] | ' |
Noninterest revenue policy | ' |
Investment banking fees | |
This revenue category includes equity and debt underwriting and advisory fees. Underwriting fees are recognized as revenue when the Firm has rendered all services to the issuer and is entitled to collect the fee from the issuer, as long as there are no other contingencies associated with the fee. Underwriting fees are net of syndicate expense; the Firm recognizes credit arrangement and syndication fees as revenue after satisfying certain retention, timing and yield criteria. Advisory fees are recognized as revenue when the related services have been performed and the fee has been earned. | |
Lending- and deposit-related fees | |
This revenue category includes fees from loan commitments, standby letters of credit, financial guarantees, deposit-related fees in lieu of compensating balances, cash management-related activities or transactions, deposit accounts and other loan-servicing activities. These fees are recognized over the period in which the related service is provided. | |
Asset management, administration and commissions | |
This revenue category includes fees from investment management and related services, custody, brokerage services, insurance premiums and commissions, and other products. These fees are recognized over the period in which the related service is provided. Performance-based fees, which are earned based on exceeding certain benchmarks or other performance targets, are accrued and recognized at the end of the performance period in which the target is met. The Firm has contractual arrangements with third parties to provide certain services in connection with its asset management activities. Amounts paid to third-party service providers are predominantly expensed, such that asset management fees are recorded gross of payments made to third parties. | |
Principal transactions | |
Principal transactions revenue includes realized and unrealized gains and losses recorded on derivatives, other financial instruments, and private equity investments. | |
Principal transactions revenue also includes certain realized and unrealized gains and losses related to hedge accounting and specified risk management activities disclosed separately in Note 6, including: (a) certain derivatives designated in qualifying hedge accounting relationships (primarily fair value hedges of commodity and foreign exchange risk), (b) certain derivatives used for specific risk management purposes, primarily to mitigate credit risk, foreign exchange risk and commodity risk, and (c) other derivatives, including the synthetic credit portfolio. See Note 6 on pages 220–233 of this Form Annual Report for information on the income statement classification of gains and losses on derivatives. | |
Principal transactions revenue also includes revenue associated with market-making and client-driven activities that involve physical commodities. The Firm, through its Global Commodities Group within CIB (“Commodities Group”) generally provides risk management, investment and financing solutions to clients globally both through financial derivatives transactions, as well as through physical commodities transactions. On the financial side, the Commodities Group engages in OTC derivatives transactions (e.g., swaps, forwards, options) and exchange-traded derivatives referencing various types of commodities (see below and Note 6 – Derivative instruments for further information). On the physical side, the Commodities Group engages in the purchase, sale, transport, and storage of power, gas, liquefied natural gas, coal, crude oil, refined products, precious and base metals among others. Realized gains and losses and unrealized losses arising from market-making and client-driven activities involving physical commodities inventories that are generally carried at the lower of cost or market (market approximates fair value), subject to any applicable fair value hedge accounting adjustments, are recorded in principal transactions revenue. Fees relating to storage and transportation are recorded in other income. These fees are generally recognized over the arrangement period. Expenses relating to such activities are recorded in other expense (see Note 11 on page 249 of this Annual Report for further information). Additional information on the physical commodities business can be found in Note 2 – Business Changes and Developments on pages 192–194 of this Annual Report. | |
earance. | |
Mortgage fees and related income | |
This revenue category primarily reflects CCB’s Mortgage Production and Mortgage Servicing revenue, including: fees and income derived from mortgages originated with the intent to sell; mortgage sales and servicing including losses related to the repurchase of previously-sold loans; the impact of risk management activities associated with the mortgage pipeline, warehouse loans and MSRs; and revenue related to any residual interests held from mortgage securitizations. This revenue category also includes gains and losses on sales and lower of cost or fair value adjustments for mortgage loans held-for-sale, as well as changes in fair value for mortgage loans originated with the intent to sell and measured at fair value under the fair value option. Changes in the fair value of CCB MSRs are reported in mortgage fees and related income. Net interest income from mortgage loans is recorded in interest income. For a further discussion of MSRs, see Note 17 on pages 299–304 of this Annual Report. | |
Card income | |
This revenue category includes interchange income from credit and debit cards and net fees earned from processing credit card transactions for merchants. Card income is recognized as earned. Annual fees and direct loan origination costs are deferred and recognized on a straight-line basis over a 12-month period. Expense related to rewards programs is recorded when the rewards are earned by the customer and netted against interchange income. | |
Credit card revenue sharing agreements | |
The Firm has contractual agreements with numerous co-brand partners and affinity organizations (collectively, “partners”), which grant the Firm exclusive rights to market to the customers or members of such partners. These partners endorse the credit card programs and provide their customer and member lists to the Firm, and they may also conduct marketing activities and provide awards under the various credit card programs. The terms of these agreements generally range from three to ten years. | |
The Firm typically makes incentive payments to the partners based on new account originations, charge volumes and the cost of the partners’ marketing activities and awards. Payments based on new account originations are accounted for as direct loan origination costs. Payments to partners based on charge volumes are deducted from interchange income as the related revenue is earned. Payments based on marketing efforts undertaken by the partners are expensed by the Firm as incurred and reported as noninterest expense. |
Interest_Income_and_Interest_E1
Interest Income and Interest Expense (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Interest Income (Expense), Net [Abstract] | ' |
Interest income and interest expense policy | ' |
Interest income and interest expense is recorded in the Consolidated Statements of Income and classified based on the nature of the underlying asset or liability. Interest income and interest expense includes the current-period interest accruals for financial instruments measured at fair value, except for financial instruments containing embedded derivatives that would be separately accounted for in accordance with U.S. GAAP absent the fair value option election; for those instruments, all changes in fair value, including any interest elements, are reported in principal transactions revenue. For financial instruments that are not measured at fair value, the related interest is included within interest income or interest expense, as applicable. |
Pension_and_Other_Postretireme1
Pension and Other Postretirement Employee Benefit Plans (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
General Discussion of Pension and Other Postretirement Benefits [Abstract] | ' |
Pension and other postretirement plans policy | ' |
The Firm’s defined benefit pension plans and its other postretirement employee benefit (“OPEB”) plans (collectively the “Plans”) are accounted for in accordance with U.S. GAAP for retirement benefits. | |
Defined benefit pension plans | |
The Firm has a qualified noncontributory U.S. defined benefit pension plan that provides benefits to substantially all U.S. employees. The U.S. plan employs a cash balance formula in the form of pay and interest credits to determine the benefits to be provided at retirement, based on eligible compensation and years of service. Employees begin to accrue plan benefits after completing one year of service, and benefits generally vest after three years of service. The Firm also offers benefits through defined benefit pension plans to qualifying employees in certain non-U.S. locations based on factors such as eligible compensation, age and/or years of service. | |
It is the Firm’s policy to fund the pension plans in amounts sufficient to meet the requirements under applicable laws. The Firm does not anticipate at this time any contribution to the U.S. defined benefit pension plan in 2014. The 2014 contributions to the non-U.S. defined benefit pension plans are expected to be $49 million of which $32 million are contractually required. | |
JPMorgan Chase also has a number of defined benefit pension plans that are not subject to Title IV of the Employee Retirement Income Security Act. The most significant of these plans is the Excess Retirement Plan, pursuant to which certain employees previously earned pay credits on compensation amounts above the maximum stipulated by law under a qualified plan; no further pay credits are allocated under this plan. The Excess Retirement Plan had an unfunded projected benefit obligation in the amount of $245 million and $276 million, at December 31, 2013 and 2012, respectively. | |
Effective March 19, 2012, pursuant to the WaMu Global Settlement, JPMorgan Chase Bank, N.A. became the sponsor of the WaMu Pension Plan. This plan’s assets were merged with and into the JPMorgan Chase Retirement Plan effective as of December 31, 2012. | |
Defined contribution plans | |
JPMorgan Chase currently provides two qualified defined contribution plans in the U.S. and other similar arrangements in certain non-U.S. locations, all of which are administered in accordance with applicable local laws and regulations. The most significant of these plans is The JPMorgan Chase 401(k) Savings Plan (the “401(k) Savings Plan”), which covers substantially all U.S. employees. The 401(k) Savings Plan allows employees to make pretax and Roth 401(k) contributions to tax-deferred investment portfolios. The JPMorgan Chase Common Stock Fund, which is an investment option under the 401(k) Savings Plan, is a nonleveraged employee stock ownership plan. | |
The Firm matches eligible employee contributions up to 5% of benefits-eligible compensation (e.g., base pay) on an annual basis. Employees begin to receive matching contributions after completing a one-year-of-service requirement. Employees with total annual cash compensation of $250,000 or more are not eligible for matching contributions. Matching contributions vest after three years of service for employees hired on or after May 1, 2009. The 401(k) Savings Plan also permits discretionary profit-sharing contributions by participating companies for certain employees, subject to a specified vesting schedule. | |
OPEB plans | |
JPMorgan Chase offers postretirement medical and life insurance benefits to certain retirees and postretirement medical benefits to qualifying U.S. employees. These benefits vary with the length of service and the date of hire and provide for limits on the Firm’s share of covered medical benefits. The medical and life insurance benefits are both contributory. Postretirement medical benefits also are offered to qualifying U.K. employees. | |
JPMorgan Chase’s U.S. OPEB obligation is funded with corporate-owned life insurance (“COLI”) purchased on the lives of eligible employees and retirees. While the Firm owns the COLI policies, COLI proceeds (death benefits, withdrawals and other distributions) may be used only to reimburse the Firm for its net postretirement benefit claim payments and related administrative expense. The U.K. OPEB plan is unfunded. |
Employee_StockBased_Incentives
Employee Stock-Based Incentives (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' |
Share-based compensation, option and incentive plans policy | ' |
Restricted stock units (“RSUs”) are awarded at no cost to the recipient upon their grant. Generally, RSUs are granted annually and vest at a rate of 50% after two years and 50% after three years and are converted into shares of common stock as of the vesting date. In addition, RSUs typically include full-career eligibility provisions, which allow employees to continue to vest upon voluntary termination, subject to post-employment and other restrictions based on age or service-related requirements. All RSUs awards are subject to forfeiture until vested and contain clawback provisions that may result in cancellation under certain specified circumstances. RSUs entitle the recipient to receive cash payments equivalent to any dividends paid on the underlying common stock during the period the RSUs are outstanding and, as such, are considered participating securities as discussed in Note 24 on page 311 of this Annual Report. | |
Under the LTI Plans, stock options and stock appreciation rights (“SARs”) have generally been granted with an exercise price equal to the fair value of JPMorgan Chase’s common stock on the grant date. The Firm typically awards SARs to certain key employees once per year; the Firm also periodically grants employee stock options and SARs to individual employees. The 2013, 2012 and 2011 grants of SARs become exercisable ratably over five years (i.e., 20% per year) and contain clawback provisions similar to RSUs. The 2013, 2012 and 2011 grants of SARs contain full-career eligibility provisions. SARs generally expire ten years after the grant date. | |
The Firm separately recognizes compensation expense for each tranche of each award as if it were a separate award with its own vesting date. Generally, for each tranche granted, compensation expense is recognized on a straight-line basis from the grant date until the vesting date of the respective tranche, provided that the employees will not become full-career eligible during the vesting period. For awards with full-career eligibility provisions and awards granted with no future substantive service requirement, the Firm accrues the estimated value of awards expected to be awarded to employees as of the grant date without giving consideration to the impact of post-employment restrictions. For each tranche granted to employees who will become full-career eligible during the vesting period, compensation expense is recognized on a straight-line basis from the grant date until the earlier of the employee’s full-career eligibility date or the vesting date of the respective tranche. |
Securities_Policies
Securities (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Investments, Debt and Equity Securities [Abstract] | ' |
Securities policy | ' |
Predominantly all of the Firm’s AFS and HTM investment securities (the “investment securities portfolio”) is held by CIO in connection with its asset-liability management objectives. At December 31, 2013, the average credit rating of the debt securities comprising the investment securities portfolio was AA+ (based upon external ratings where available, and where not available, based primarily upon internal ratings which correspond to ratings as defined by S&P and Moody’s). AFS securities are carried at fair value on the Consolidated Balance Sheets. Unrealized gains and losses, after any applicable hedge accounting adjustments, are reported as net increases or decreases to accumulated other comprehensive income/(loss). The specific identification method is used to determine realized gains and losses on AFS securities, which are included in securities gains/(losses) on the Consolidated Statements of Income. HTM debt securities, which management has the intent and ability to hold until maturity, are carried at amortized cost on the Consolidated Balance Sheets. For both AFS and HTM debt securities, purchase discounts or premiums are amortized into interest income. | |
Other-than-temporary impairment | |
AFS debt and equity securities and HTM debt securities in unrealized loss positions are analyzed as part of the Firm’s ongoing assessment of other-than-temporary impairment (“OTTI”). For most types of debt securities, the Firm considers a decline in fair value to be other-than-temporary when the Firm does not expect to recover the entire amortized cost basis of the security. For beneficial interests in securitizations that are rated below “AA” at their acquisition, or that can be contractually prepaid or otherwise settled in such a way that the Firm would not recover substantially all of its recorded investment, the Firm considers an OTTI to have occurred when there is an adverse change in expected cash flows. For AFS equity securities, the Firm considers a decline in fair value to be other-than-temporary if it is probable that the Firm will not recover its amortized cost basis. | |
Potential OTTI is considered using a variety of factors, including the length of time and extent to which the market value has been less than cost; adverse conditions specifically related to the industry, geographic area or financial condition of the issuer or underlying collateral of a security; payment structure of the security; changes to the rating of the security by a rating agency; the volatility of the fair value changes; and the Firm’s intent and ability to hold the security until recovery. | |
For AFS debt securities, the Firm recognizes OTTI losses in earnings if the Firm has the intent to sell the debt security, or if it is more likely than not that the Firm will be required to sell the debt security before recovery of its amortized cost basis. In these circumstances the impairment loss is equal to the full difference between the amortized cost basis and the fair value of the securities. For debt securities in an unrealized loss position, including AFS securities the Firm has the intent and ability to hold, the expected cash flows to be received from the securities are evaluated to determine if a credit loss exists. In the event of a credit loss, only the amount of impairment associated with the credit loss is recognized in income. Amounts relating to factors other than credit losses are recorded in OCI. | |
The Firm’s cash flow evaluations take into account the factors noted above and expectations of relevant market and economic data as of the end of the reporting period. For securities issued in a securitization, the Firm estimates cash flows considering underlying loan-level data and structural features of the securitization, such as subordination, excess spread, overcollateralization or other forms of credit enhancement, and compares the losses projected for the underlying collateral (“pool losses”) against the level of credit enhancement in the securitization structure to determine whether these features are sufficient to absorb the pool losses, or whether a credit loss exists. The Firm also performs other analyses to support its cash flow projections, such as first-loss analyses or stress scenarios. | |
For equity securities, OTTI losses are recognized in earnings if the Firm intends to sell the security. In other cases the Firm considers the relevant factors noted above, as well as the Firm’s intent and ability to retain its investment for a period of time sufficient to allow for any anticipated recovery in market value, and whether evidence exists to support a realizable value equal to or greater than the carrying value. Any impairment loss on an equity security is equal to the full difference between the amortized cost basis and the fair value of the security. |
Loans_Policies
Loans (Policies) | 12 Months Ended | |
Dec. 31, 2013 | ||
Loans and Leases Receivable Disclosure [Abstract] | ' | |
Loans receivable policy | ' | |
Loan accounting framework | ||
The accounting for a loan depends on management’s strategy for the loan, and on whether the loan was credit-impaired at the date of acquisition. The Firm accounts for loans based on the following categories: | ||
• | Originated or purchased loans held-for-investment (i.e., “retained”), other than purchased credit-impaired (“PCI”) loans | |
• | Loans held-for-sale | |
• | Loans at fair value | |
• | PCI loans held-for-investment | |
The following provides a detailed accounting discussion of these loan categories: | ||
Loans held-for-investment (other than PCI loans) | ||
Originated or purchased loans held-for-investment, other than PCI loans, are measured at the principal amount outstanding, net of the following: allowance for loan losses; net charge-offs; interest applied to principal (for loans accounted for on the cost recovery method); unamortized discounts and premiums; and net deferred loan fees or costs. Credit card loans also include billed finance charges and fees net of an allowance for uncollectible amounts. | ||
Interest income | ||
Interest income on performing loans held-for-investment, other than PCI loans, is accrued and recognized as interest income at the contractual rate of interest. Purchase price discounts or premiums, as well as net deferred loan fees or costs, are amortized into interest income over the life of the loan to produce a level rate of return. | ||
Nonaccrual loans | ||
Nonaccrual loans are those on which the accrual of interest has been suspended. Loans (other than credit card loans and certain consumer loans insured by U.S. government agencies) are placed on nonaccrual status and considered nonperforming when full payment of principal and interest is in doubt, which for consumer loans, excluding credit card, generally occurs when principal or interest is 90 days or more past due unless the loan is both well secured and in the process of collection. A loan is determined to be past due when the minimum payment is not received from the borrower by the contractually specified due date or for certain loans (e.g., residential real estate loans), when a monthly payment is due and unpaid for 30 days or more. Consumer, excluding credit card, loans that are less than 90 days past due may be placed on nonaccrual status when there is evidence that full payment of principal and interest is in doubt (e.g., performing junior liens that are subordinate to nonperforming senior liens). Finally, collateral-dependent loans are typically maintained on nonaccrual status. | ||
On the date a loan is placed on nonaccrual status, all interest accrued but not collected is reversed against interest income. In addition, the amortization of deferred amounts is suspended. Interest income on nonaccrual loans may be recognized as cash interest payments are received (i.e., on a cash basis) if the recorded loan balance is deemed fully collectible; however, if there is doubt regarding the ultimate collectibility of the recorded loan balance, all interest cash receipts are applied to reduce the carrying value of the loan (the cost recovery method). For consumer loans, application of this policy typically results in the Firm recognizing interest income on nonaccrual consumer loans on a cash basis. | ||
A loan may be returned to accrual status when repayment is reasonably assured and there has been demonstrated performance under the terms of the loan or, if applicable, the terms of the restructured loan. | ||
As permitted by regulatory guidance, credit card loans are generally exempt from being placed on nonaccrual status; accordingly, interest and fees related to credit card loans continue to accrue until the loan is charged off or paid in full. However, the Firm separately establishes an allowance for the estimated uncollectible portion of accrued interest and fee income on credit card loans. The allowance is established with a charge to interest income and is reported as an offset to loans. | ||
Allowance for loan losses | ||
The allowance for loan losses represents the estimated probable credit losses inherent in the held-for-investment loan portfolio at the balance sheet date. Changes in the allowance for loan losses are recorded in the provision for credit losses on the Firm’s Consolidated Statements of Income. See Note 15 on pages 284–287 of this Annual Report for further information on the Firm’s accounting polices for the allowance for loan losses. | ||
Charge-offs | ||
Consumer loans, other than risk-rated business banking, risk-rated auto and PCI loans, are generally charged off or charged down to the net realizable value of the underlying collateral (i.e., fair value less costs to sell), with an offset to the allowance for loan losses, upon reaching specified stages of delinquency in accordance with standards established by the Federal Financial Institutions Examination Council (“FFIEC”). Residential real estate loans, non-modified credit card loans and scored business banking loans are generally charged off at 180 days past due. In the second quarter of 2012, the Firm revised its policy to charge-off modified credit card loans that do not comply with their modified payment terms at 120 days past due rather than 180 days past due. Auto and student loans are charged off no later than 120 days past due. | ||
Certain consumer loans will be charged off earlier than the FFIEC charge-off standards in certain circumstances as follows: | ||
• | A charge-off is recognized when a loan is modified in a TDR if the loan is determined to be collateral-dependent. A loan is considered to be collateral-dependent when repayment of the loan is expected to be provided solely by the underlying collateral, rather than by cash flows from the borrower’s operations, income or other resources. | |
• | Loans to borrowers who have experienced an event (e.g., bankruptcy) that suggests a loss is either known or highly certain are subject to accelerated charge-off standards. Residential real estate and auto loans are charged off when the loan becomes 60 days past due, or sooner if the loan is determined to be collateral-dependent. Credit card and scored business banking loans are charged off within 60 days of receiving notification of the bankruptcy filing or other event. Student loans are generally charged off when the loan becomes 60 days past due after receiving notification of a bankruptcy. | |
• | Auto loans are written down to net realizable value upon repossession of the automobile and after a redemption period (i.e., the period during which a borrower may cure the loan) has passed. | |
Other than in certain limited circumstances, the Firm typically does not recognize charge-offs on government-guaranteed loans. | ||
Wholesale loans, risk-rated business banking loans and risk-rated auto loans are charged off when it is highly certain that a loss has been realized, including situations where a loan is determined to be both impaired and collateral-dependent. The determination of whether to recognize a charge-off includes many factors, including the prioritization of the Firm’s claim in bankruptcy, expectations of the workout/restructuring of the loan and valuation of the borrower’s equity or the loan collateral. | ||
When a loan is charged down to the estimated net realizable value, the determination of the fair value of the collateral depends on the type of collateral (e.g., securities, real estate). In cases where the collateral is in the form of liquid securities, the fair value is based on quoted market prices or broker quotes. For illiquid securities or other financial assets, the fair value of the collateral is estimated using a discounted cash flow model. | ||
For residential real estate loans, collateral values are based upon external valuation sources. When it becomes likely that a borrower is either unable or unwilling to pay, the Firm obtains a broker’s price opinion of the home based on an exterior-only valuation (“exterior opinions”), which is then updated at least every six months thereafter. As soon as practicable after the Firm receives the property in satisfaction of a debt (e.g., by taking legal title or physical possession), generally, either through foreclosure or upon the execution of a deed in lieu of foreclosure transaction with the borrower, the Firm obtains an appraisal based on an inspection that includes the interior of the home (“interior appraisals”). Exterior opinions and interior appraisals are discounted based upon the Firm’s experience with actual liquidation values as compared to the estimated values provided by exterior opinions and interior appraisals, considering state- and product-specific factors. | ||
For commercial real estate loans, collateral values are generally based on appraisals from internal and external valuation sources. Collateral values are typically updated every six to twelve months, either by obtaining a new appraisal or by performing an internal analysis, in accordance with the Firm’s policies. The Firm also considers both borrower- and market-specific factors, which may result in obtaining appraisal updates or broker price opinions at more frequent intervals. | ||
Loans held-for-sale | ||
Held-for-sale loans are measured at the lower of cost or fair value, with valuation changes recorded in noninterest revenue. For consumer loans, the valuation is performed on a portfolio basis. For wholesale loans, the valuation is performed on an individual loan basis. | ||
Interest income on loans held-for-sale is accrued and recognized based on the contractual rate of interest. | ||
Loan origination fees or costs and purchase price discounts or premiums are deferred in a contra loan account until the related loan is sold. The deferred fees and discounts or premiums are an adjustment to the basis of the loan and therefore are included in the periodic determination of the lower of cost or fair value adjustments and/or the gain or losses recognized at the time of sale. | ||
Held-for-sale loans are subject to the nonaccrual policies described above. | ||
Because held-for-sale loans are recognized at the lower of cost or fair value, the Firm’s allowance for loan losses and charge-off policies do not apply to these loans. | ||
Loans at fair value | ||
Loans used in a market-making strategy or risk managed on a fair value basis are measured at fair value, with changes in fair value recorded in noninterest revenue. | ||
For these loans, the earned current contractual interest payment is recognized in interest income. Changes in fair value are recognized in noninterest revenue. Loan origination fees are recognized upfront in noninterest revenue. Loan origination costs are recognized in the associated expense category as incurred. | ||
Because these loans are recognized at fair value, the Firm’s nonaccrual, allowance for loan losses, and charge-off policies do not apply to these loans. | ||
See Note 4 on pages 215–218 of this Annual Report for further information on the Firm’s elections of fair value accounting under the fair value option. See Note 3 and Note 4 on pages 195–215 and 215–218 of this Annual Report for further information on loans carried at fair value and classified as trading assets. | ||
PCI loans | ||
PCI loans held-for-investment are initially measured at fair value. PCI loans have evidence of credit deterioration since the loan’s origination date and therefore it is probable, at acquisition, that all contractually required payments will not be collected. Because PCI loans are initially measured at fair value, which includes an estimate of future credit losses, no allowance for loan losses related to PCI loans is recorded at the acquisition date. See page 274 of this Note for information on accounting for PCI loans subsequent to their acquisition. | ||
Loan classification changes | ||
Loans in the held-for-investment portfolio that management decides to sell are transferred to the held-for-sale portfolio at the lower of cost or fair value on the date of transfer. Credit-related losses are charged against the allowance for loan losses; losses due to changes in interest rates or foreign currency exchange rates are recognized in noninterest revenue. | ||
In the event that management decides to retain a loan in the held-for-sale portfolio, the loan is transferred to the held-for-investment portfolio at the lower of cost or fair value on the date of transfer. These loans are subsequently assessed for impairment based on the Firm’s allowance methodology. For a further discussion of the methodologies used in establishing the Firm’s allowance for loan losses, see Note 15 on pages 284–287 of this Annual Report. | ||
Loan modifications | ||
The Firm seeks to modify certain loans in conjunction with its loss-mitigation activities. Through the modification, JPMorgan Chase grants one or more concessions to a borrower who is experiencing financial difficulty in order to minimize the Firm’s economic loss, avoid foreclosure or repossession of the collateral, and to ultimately maximize payments received by the Firm from the borrower. The concessions granted vary by program and by borrower-specific characteristics, and may include interest rate reductions, term extensions, payment deferrals, principal forgiveness, or the acceptance of equity or other assets in lieu of payments. | ||
Such modifications are accounted for and reported as troubled debt restructurings (“TDRs”). A loan that has been modified in a TDR is generally considered to be impaired until it matures, is repaid, or is otherwise liquidated, regardless of whether the borrower performs under the modified terms. In certain limited cases, the effective interest rate applicable to the modified loan is at or above the current market rate at the time of the restructuring. In such circumstances, and assuming that the loan subsequently performs under its modified terms and the Firm expects to collect all contractual principal and interest cash flows, the loan is disclosed as impaired and as a TDR only during the year of the modification; in subsequent years, the loan is not disclosed as an impaired loan or as a TDR so long as repayment of the restructured loan under its modified terms is reasonably assured. | ||
Loans, except for credit card loans, modified in a TDR are generally placed on nonaccrual status, although in many cases such loans were already on nonaccrual status prior to modification. These loans may be returned to performing status (the accrual of interest is resumed) if the following criteria are met: (a) the borrower has performed under the modified terms for a minimum of six months and/or six payments, and (b) the Firm has an expectation that repayment of the modified loan is reasonably assured based on, for example, the borrower’s debt capacity and level of future earnings, collateral values, loan-to-value (“LTV”) ratios, and other current market considerations. In certain limited and well-defined circumstances in which the loan is current at the modification date, such loans are not placed on nonaccrual status at the time of modification. | ||
Because loans modified in TDRs are considered to be impaired, these loans are measured for impairment using the Firm’s established asset-specific allowance methodology, which considers the expected re-default rates for the modified loans. A loan modified in a TDR remains subject to the asset-specific allowance methodology throughout its remaining life, regardless of whether the loan is performing and has been returned to accrual status and/or the loan has been removed from the impaired loans disclosures (i.e., loans restructured at market rates). For further discussion of the methodology used to estimate the Firm’s asset-specific allowance, see Note 15 on pages 284–287 of this Annual Report. | ||
Foreclosed property | ||
The Firm acquires property from borrowers through loan restructurings, workouts, and foreclosures. Property acquired may include real property (e.g., residential real estate, land, and buildings) and commercial and personal property (e.g., automobiles, aircraft, railcars, and ships). | ||
The Firm recognizes foreclosed property upon receiving assets in satisfaction of a loan (e.g., by taking legal title or physical possession). For loans collateralized by real property, the Firm generally recognizes the asset received at foreclosure sale or upon the execution of a deed in lieu of foreclosure transaction with the borrower. Foreclosed assets are reported in other assets on the Consolidated Balance Sheets and initially recognized at fair value less costs to sell. Each quarter the fair value of the acquired property is reviewed and adjusted, if necessary, to the lower of cost or fair value. Subsequent adjustments to fair value are charged/credited to noninterest revenue. Operating expense, such as real estate taxes and maintenance, are charged to other expense. |
Allowance_for_Credit_Losses_Po
Allowance for Credit Losses (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Allowance for Credit Losses [Abstract] | ' |
Allowance for credit losses policy | ' |
JPMorgan Chase’s allowance for loan losses covers the consumer, including credit card, portfolio segments (primarily scored); and wholesale (risk-rated) portfolio, and represents management’s estimate of probable credit losses inherent in the Firm’s loan portfolio. The allowance for loan losses includes an asset-specific component, a formula-based component and a component related to PCI loans, as described below. Management also estimates an allowance for wholesale and consumer lending-related commitments using methodologies similar to those used to estimate the allowance on the underlying loans. During 2013, the Firm did not make any significant changes to the methodologies or policies used to determine its allowance for credit losses; such policies are described in the following paragraphs. | |
The asset-specific component of the allowance relates to loans considered to be impaired, which includes loans that have been modified in TDRs as well as risk-rated loans that have been placed on nonaccrual status. To determine the asset-specific component of the allowance, larger loans are evaluated individually, while smaller loans are evaluated as pools using historical loss experience for the respective class of assets. Scored loans (i.e., consumer loans) are pooled by product type, while risk-rated loans (primarily wholesale loans) are segmented by risk rating. | |
The Firm generally measures the asset-specific allowance as the difference between the recorded investment in the loan and the present value of the cash flows expected to be collected, discounted at the loan’s original effective interest rate. Subsequent changes in impairment are reported as an adjustment to the provision for loan losses. In certain cases, the asset-specific allowance is determined using an observable market price, and the allowance is measured as the difference between the recorded investment in the loan and the loan’s fair value. Impaired collateral-dependent loans are charged down to the fair value of collateral less costs to sell and therefore may not be subject to an asset-specific reserve as for other impaired loans. See Note 14 on pages 258–283 of this Annual Report for more information about charge-offs and collateral-dependent loans. | |
The asset-specific component of the allowance for impaired loans that have been modified in TDRs incorporates the effects of foregone interest, if any, in the present value calculation and also incorporates the effect of the modification on the loan’s expected cash flows, which considers the potential for redefault. For residential real estate loans modified in TDRs, the Firm develops product-specific probability of default estimates, which are applied at a loan level to compute expected losses. In developing these probabilities of default, the Firm considers the relationship between the credit quality characteristics of the underlying loans and certain assumptions about home prices and unemployment, based upon industry-wide data. The Firm also considers its own historical loss experience to date based on actual redefaulted modified loans. For credit card loans modified in TDRs, expected losses incorporate projected redefaults based on the Firm’s historical experience by type of modification program. For wholesale loans modified in TDRs, expected losses incorporate redefaults based on management’s expectation of the borrower’s ability to repay under the modified terms. | |
The formula-based component is based on a statistical calculation to provide for incurred credit losses in performing risk-rated loans and all consumer loans, except for any loans restructured in TDRs and PCI loans. See Note 14 on pages 258–283 of this Annual Report for more information on PCI loans. | |
For scored loans, the statistical calculation is performed on pools of loans with similar risk characteristics (e.g., product type) and generally computed by applying loss factors to outstanding principal balances over an estimated loss emergence period. The loss emergence period represents the time period between the date at which the loss is estimated to have been incurred and the ultimate realization of that loss (through a charge-off). Estimated loss emergence periods may vary by product and may change over time; management applies judgment in estimating loss emergence periods, using available credit information and trends. | |
Loss factors are statistically derived and sensitive to changes in delinquency status, credit scores, collateral values and other risk factors. The Firm uses a number of different forecasting models to estimate both the PD and the loss severity, including delinquency roll rate models and credit loss severity models. In developing PD and loss severity assumptions, the Firm also considers known and anticipated changes in the economic environment, including changes in home prices, unemployment rates and other risk indicators. | |
A nationally recognized home price index measure is used to estimate both the PD and the loss severity on residential real estate loans at the metropolitan statistical areas (“MSA”) level. Loss severity estimates are regularly validated by comparison to actual losses recognized on defaulted loans, market-specific real estate appraisals and property sales activity. The economic impact of potential modifications of residential real estate loans is not included in the statistical calculation because of the uncertainty regarding the type and results of such modifications. | |
For risk-rated loans, the statistical calculation is the product of an estimated PD and an estimated LGD. These factors are differentiated by risk rating and expected maturity. In assessing the risk rating of a particular loan, among the factors considered are the obligor’s debt capacity and financial flexibility, the level of the obligor’s earnings, the amount and sources for repayment, the level and nature of contingencies, management strength, and the industry and geography in which the obligor operates. These factors are based on an evaluation of historical and current information, and involve subjective assessment and interpretation. Emphasizing one factor over another or considering additional factors could impact the risk rating assigned by the Firm to that loan. PD estimates are based on observable external through-the-cycle data, using credit-rating agency default statistics. LGD estimates are based on the Firm’s history of actual credit losses over more than one credit cycle. | |
Management applies judgment within an established framework to adjust the results of applying the statistical calculation described above. The determination of the appropriate adjustment is based on management’s view of loss events that have occurred but that are not yet reflected in the loss factors and that relate to current macroeconomic and political conditions, the quality of underwriting standards and other relevant internal and external factors affecting the credit quality of the portfolio. For the scored loan portfolios, adjustments to the statistical calculation are accomplished in part by analyzing the historical loss experience for each major product segment. Factors related to unemployment, home prices, borrower behavior and lien position, the estimated effects of the mortgage foreclosure-related settlement with federal and state officials and uncertainties regarding the ultimate success of loan modifications are incorporated into the calculation, as appropriate. For junior lien products, management considers the delinquency and/or modification status of any senior liens in determining the adjustment. In addition, for the risk-rated portfolios, any adjustments made to the statistical calculation also consider concentrated and deteriorating industries. | |
Management establishes an asset-specific allowance for lending-related commitments that are considered impaired and computes a formula-based allowance for performing consumer and wholesale lending-related commitments. These are computed using a methodology similar to that used for the wholesale loan portfolio, modified for expected maturities and probabilities of drawdown. | |
Determining the appropriateness of the allowance is complex and requires judgment by management about the effect of matters that are inherently uncertain. Subsequent evaluations of the loan portfolio, in light of the factors then prevailing, may result in significant changes in the allowances for loan losses and lending-related commitments in future periods. At least quarterly, the allowance for credit losses is reviewed by the Chief Risk Officer, the Chief Financial Officer and the Controller of the Firm and discussed with the Risk Policy and Audit Committees of the Board of Directors of the Firm. As of December 31, 2013, JPMorgan Chase deemed the allowance for credit losses to be appropriate (i.e., sufficient to absorb probable credit losses inherent in the portfolio). |
Variable_Interest_Entities_Pol
Variable Interest Entities (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Variable Interest Entities [Abstract] | ' |
Transfers and Servicing of Financial Assets, Policy | ' |
In addition to the Firm’s obligation to repurchase certain loans due to material breaches of representations and warranties as discussed in Note 29 on pages 318–324 of this Annual Report, the Firm also has the option to repurchase delinquent loans that it services for Ginnie Mae loan pools, as well as for other U.S. government agencies under certain arrangements. The Firm typically elects to repurchase delinquent loans from Ginnie Mae loan pools as it continues to service them and/or manage the foreclosure process in accordance with the applicable requirements, and such loans continue to be insured or guaranteed. When the Firm’s repurchase option becomes exercisable, such loans must be reported on the Consolidated Balance Sheets as a loan with a corresponding liability. | |
For loan securitizations in which the Firm is not required to consolidate the trust, the Firm records the transfer of the loan receivable to the trust as a sale when the accounting criteria for a sale are met. Those criteria are: (1) the transferred financial assets are legally isolated from the Firm’s creditors; (2) the transferee or beneficial interest holder can pledge or exchange the transferred financial assets; and (3) the Firm does not maintain effective control over the transferred financial assets (e.g., the Firm cannot repurchase the transferred assets before their maturity and it does not have the ability to unilaterally cause the holder to return the transferred assets). | |
For loan securitizations accounted for as a sale, the Firm recognizes a gain or loss based on the difference between the value of proceeds received (including cash, beneficial interests, or servicing assets received) and the carrying value of the assets sold. Gains and losses on securitizations are reported in noninterest revenue. |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
Goodwill policy | ' |
Goodwill is recorded upon completion of a business combination as the difference between the purchase price and the fair value of the net assets acquired. Subsequent to initial recognition, goodwill is not amortized but is tested for impairment during the fourth quarter of each fiscal year, or more often if events or circumstances, such as adverse changes in the business climate, indicate there may be impairment. | |
The goodwill associated with each business combination is allocated to the related reporting units, which are determined based on how the Firm’s businesses are managed and how they are reviewed by the Firm’s Operating Committee. | |
The goodwill impairment test is performed in two steps. In the first step, the current fair value of each reporting unit is compared with its carrying value, including goodwill. If the fair value is in excess of the carrying value (including goodwill), then the reporting unit’s goodwill is considered not to be impaired. If the fair value is less than the carrying value (including goodwill), then a second step is performed. In the second step, the implied current fair value of the reporting unit’s goodwill is determined by comparing the fair value of the reporting unit (as determined in step one) to the fair value of the net assets of the reporting unit, as if the reporting unit were being acquired in a business combination. The resulting implied current fair value of goodwill is then compared with the carrying value of the reporting unit’s goodwill. If the carrying value of the goodwill exceeds its implied current fair value, then an impairment charge is recognized for the excess. If the carrying value of goodwill is less than its implied current fair value, then no goodwill impairment is recognized. | |
The Firm uses the reporting units’ allocated equity plus goodwill capital as a proxy for the carrying amounts of equity for the reporting units in the goodwill impairment testing. Reporting unit equity is determined on a similar basis as the allocation of equity to the Firm’s lines of business, which takes into consideration the capital the business segment would require if it were operating independently, incorporating sufficient capital to address regulatory capital requirements (including Basel III), economic risk measures and capital levels for similarly rated peers. Proposed line of business equity levels are incorporated into the Firm’s annual budget process, which is reviewed by the Firm’s Board of Directors. Allocated equity is further reviewed on a periodic basis and updated as needed. | |
The primary method the Firm uses to estimate the fair value of its reporting units is the income approach. The models project cash flows for the forecast period and use the perpetuity growth method to calculate terminal values. These cash flows and terminal values are then discounted using an appropriate discount rate. Projections of cash flows are based on the reporting units’ earnings forecasts, which include the estimated effects of regulatory and legislative changes (including, but not limited to the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”)), and which are reviewed with the Operating Committee of the Firm. The discount rate used for each reporting unit represents an estimate of the cost of equity for that reporting unit and is determined considering the Firm’s overall estimated cost of equity (estimated using the Capital Asset Pricing Model), as adjusted for the risk characteristics specific to each reporting unit (for example, for higher levels of risk or uncertainty associated with the business or management’s forecasts and assumptions). To assess the reasonableness of the discount rates used for each reporting unit management compares the discount rate to the estimated cost of equity for publicly traded institutions with similar businesses and risk characteristics. In addition, the weighted average cost of equity (aggregating the various reporting units) is compared with the Firms’ overall estimated cost of equity to ensure reasonableness. | |
The valuations derived from the discounted cash flow models are then compared with market-based trading and transaction multiples for relevant competitors. Trading and transaction comparables are used as general indicators to assess the general reasonableness of the estimated fair values, although precise conclusions generally cannot be drawn due to the differences that naturally exist between the Firm’s businesses and competitor institutions. Management also takes into consideration a comparison between the aggregate fair value of the Firm’s reporting units and JPMorgan Chase’s market capitalization. In evaluating this comparison, management considers several factors, including (a) a control premium that would exist in a market transaction, (b) factors related to the level of execution risk that would exist at the firmwide level that do not exist at the reporting unit level and (c) short-term market volatility and other factors that do not directly affect the value of individual reporting units. | |
Mortgage servicing rights policy | ' |
Mortgage servicing rights represent the fair value of expected future cash flows for performing servicing activities for others. The fair value considers estimated future servicing fees and ancillary revenue, offset by estimated costs to service the loans, and generally declines over time as net servicing cash flows are received, effectively amortizing the MSR asset against contractual servicing and ancillary fee income. MSRs are either purchased from third parties or recognized upon sale or securitization of mortgage loans if servicing is retained. | |
As permitted by U.S. GAAP, the Firm elected to account for its MSRs at fair value. The Firm treats its MSRs as a single class of servicing assets based on the availability of market inputs used to measure the fair value of its MSR asset and its treatment of MSRs as one aggregate pool for risk management purposes. The Firm estimates the fair value of MSRs using an option-adjusted spread (“OAS”) model, which projects MSR cash flows over multiple interest rate scenarios in conjunction with the Firm’s prepayment model, and then discounts these cash flows at risk-adjusted rates. The model considers portfolio characteristics, contractually specified servicing fees, prepayment assumptions, delinquency rates, costs to service, late charges and other ancillary revenue, and other economic factors. The Firm compares fair value estimates and assumptions to observable market data where available, and also considers recent market activity and actual portfolio experience. | |
Intangible assets policy | ' |
Impairment testing | |
The Firm’s intangible assets are tested for impairment annually or more often if events or changes in circumstances indicate that the asset might be impaired. | |
The impairment test for a finite-lived intangible asset compares the undiscounted cash flows associated with the use or disposition of the intangible asset to its carrying value. If the sum of the undiscounted cash flows exceeds its carrying value, then no impairment charge is recorded. If the sum of the undiscounted cash flows is less than its carrying value, then an impairment charge is recognized in amortization expense to the extent the carrying amount of the asset exceeds its fair value. | |
The impairment test for indefinite-lived intangible assets compares the fair value of the intangible asset to its carrying amount. If the carrying value exceeds the fair value, then an impairment charge is recognized in amortization expense for the difference. | |
Other intangible assets are recorded at their fair value upon completion of a business combination or certain other transactions, and generally represent the value of customer relationships or arrangements. Subsequently, the Firm’s intangible assets with finite lives, including core deposit intangibles, purchased credit card relationships, and other intangible assets, are amortized over their useful lives in a manner that best reflects the economic benefits of the intangible asset. |
Premises_and_Equipment_Policie
Premises and Equipment (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Property, Plant and Equipment [Abstract] | ' |
Property, plant and equipment policy | ' |
Premises and equipment, including leasehold improvements, are carried at cost less accumulated depreciation and amortization. JPMorgan Chase computes depreciation using the straight-line method over the estimated useful life of an asset. For leasehold improvements, the Firm uses the straight-line method computed over the lesser of the remaining term of the leased facility or the estimated useful life of the leased asset. JPMorgan Chase has recorded immaterial asset retirement obligations related to asbestos remediation in those cases where it has sufficient information to estimate the obligations’ fair value. | |
Internal use software policy | ' |
JPMorgan Chase capitalizes certain costs associated with the acquisition or development of internal-use software. Once the software is ready for its intended use, these costs are amortized on a straight-line basis over the software’s expected useful life and reviewed for impairment on an ongoing basis. |
Longterm_debt_Policies
Long-term debt (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Debt Disclosure [Abstract] | ' |
Debt policy | ' |
JPMorgan Chase issues long-term debt denominated in various currencies, although predominantly U.S. dollars, with both fixed and variable interest rates. Included in senior and subordinated debt below are various equity-linked or other indexed instruments, which the Firm has elected to measure at fair value. Changes in fair value are recorded in principal transactions revenue in the Consolidated Statements of Income. |
Earnings_Per_Share_Policies
Earnings Per Share (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Earnings Per Share [Abstract] | ' |
Earnings per share policy | ' |
Earnings per share (“EPS”) is calculated under the two-class method under which all earnings (distributed and undistributed) are allocated to each class of common stock and participating securities based on their respective rights to receive dividends. JPMorgan Chase grants restricted stock and RSUs to certain employees under its stock-based compensation programs, which entitle recipients to receive nonforfeitable dividends during the vesting period on a basis equivalent to the dividends paid to holders of common stock; these unvested awards meet the definition of participating securities. Options issued under employee benefit plans that have an antidilutive effect are excluded from the computation of diluted EPS. |
Income_Taxes_Policies
Income Taxes (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income tax policy | ' |
U.S. federal income taxes have not been provided on the undistributed earnings of certain non-U.S. subsidiaries, to the extent that such earnings have been reinvested abroad for an indefinite period of time. | |
JPMorgan Chase uses the asset and liability method to provide income taxes on all transactions recorded in the Consolidated Financial Statements. This method requires that income taxes reflect the expected future tax consequences of temporary differences between the carrying amounts of assets or liabilities for book and tax purposes. Accordingly, a deferred tax asset or liability for each temporary difference is determined based on the tax rates that the Firm expects to be in effect when the underlying items of income and expense are realized. JPMorgan Chase’s expense for income taxes includes the current and deferred portions of that expense. A valuation allowance is established to reduce deferred tax assets to the amount the Firm expects to realize. | |
Deferred tax assets are recognized if, in management’s judgment, their realizability is determined to be more likely than not. If a deferred tax asset is determined to be unrealizable, a valuation allowance is established. |
OffBalance_Sheet_LendingRelate1
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Lending-Related Commitments [Member] | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' |
Off-balance sheet credit exposure policy | ' |
To provide for probable credit losses inherent in consumer (excluding credit card) and wholesale lending commitments, an allowance for credit losses on lending-related commitments is maintained. | |
Guarantees [Member] | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' |
Off-balance sheet credit exposure policy | ' |
Guarantees | |
U.S. GAAP requires that a guarantor recognize, at the inception of a guarantee, a liability in an amount equal to the fair value of the obligation undertaken in issuing the guarantee. U.S. GAAP defines a guarantee as a contract that contingently requires the guarantor to pay a guaranteed party based upon: (a) changes in an underlying asset, liability or equity security of the guaranteed party; or (b) a third party’s failure to perform under a specified agreement. The Firm considers the following off–balance sheet lending-related arrangements to be guarantees under U.S. GAAP: standby letters of credit and financial guarantees, securities lending indemnifications, certain indemnification agreements included within third-party contractual arrangements and certain derivative contracts. | |
As required by U.S. GAAP, the Firm initially records guarantees at the inception date fair value of the obligation assumed (e.g., the amount of consideration received or the net present value of the premium receivable). For certain types of guarantees, the Firm records this fair value amount in other liabilities with an offsetting entry recorded in cash (for premiums received), or other assets (for premiums receivable). Any premium receivable recorded in other assets is reduced as cash is received under the contract, and the fair value of the liability recorded at inception is amortized into income as lending and deposit-related fees over the life of the guarantee contract. For indemnifications provided in sales agreements, a portion of the sale proceeds is allocated to the guarantee, which adjusts the gain or loss that would otherwise result from the transaction. For these indemnifications, the initial liability is amortized to income as the Firm’s risk is reduced (i.e., over time or when the indemnification expires). Any contingent liability that exists as a result of issuing the guarantee or indemnification is recognized when it becomes probable and reasonably estimable. The contingent portion of the liability is not recognized if the estimated amount is less than the carrying amount of the liability recognized at inception (adjusted for any amortization). | |
Derivatives qualifying as guarantees [Member] | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' |
Off-balance sheet credit exposure policy | ' |
Derivative guarantees are recorded on the Consolidated Balance Sheets at fair value in trading assets and trading liabilities. |
Fair_Value_Measurement_Tables
Fair Value Measurement (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis | ' | |||||||||||||||||||||||||||||||
The following table presents the asset and liabilities measured at fair value as of December 31, 2013 and 2012 by major product category and fair value hierarchy. | ||||||||||||||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||||||||||||||||||||||||||||
Fair value hierarchy | ||||||||||||||||||||||||||||||||
December 31, 2013 (in millions) | Level 1 | Level 2 | Level 3 | Netting adjustments | Total fair value | |||||||||||||||||||||||||||
Federal funds sold and securities purchased under resale agreements | $ | — | $ | 25,135 | $ | — | $ | — | $ | 25,135 | ||||||||||||||||||||||
Securities borrowed | — | 3,739 | — | — | 3,739 | |||||||||||||||||||||||||||
Trading assets: | ||||||||||||||||||||||||||||||||
Debt instruments: | ||||||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies(a) | 4 | 25,582 | 1,005 | — | 26,591 | |||||||||||||||||||||||||||
Residential – nonagency | — | 1,749 | 726 | — | 2,475 | |||||||||||||||||||||||||||
Commercial – nonagency | — | 871 | 432 | — | 1,303 | |||||||||||||||||||||||||||
Total mortgage-backed securities | 4 | 28,202 | 2,163 | — | 30,369 | |||||||||||||||||||||||||||
U.S. Treasury and government agencies(a) | 14,933 | 10,547 | — | — | 25,480 | |||||||||||||||||||||||||||
Obligations of U.S. states and municipalities | — | 6,538 | 1,382 | — | 7,920 | |||||||||||||||||||||||||||
Certificates of deposit, bankers’ acceptances and commercial paper | — | 3,071 | — | — | 3,071 | |||||||||||||||||||||||||||
Non-U.S. government debt securities | 25,762 | 22,379 | 143 | — | 48,284 | |||||||||||||||||||||||||||
Corporate debt securities | — | 24,802 | 5,920 | — | 30,722 | |||||||||||||||||||||||||||
Loans(b) | — | 17,331 | 13,455 | — | 30,786 | |||||||||||||||||||||||||||
Asset-backed securities | — | 3,647 | 1,272 | — | 4,919 | |||||||||||||||||||||||||||
Total debt instruments | 40,699 | 116,517 | 24,335 | — | 181,551 | |||||||||||||||||||||||||||
Equity securities | 107,667 | 954 | 885 | — | 109,506 | |||||||||||||||||||||||||||
Physical commodities(c) | 4,968 | 5,217 | 4 | — | 10,189 | |||||||||||||||||||||||||||
Other | — | 5,659 | 2,000 | — | 7,659 | |||||||||||||||||||||||||||
Total debt and equity instruments(d) | 153,334 | 128,347 | 27,224 | — | 308,905 | |||||||||||||||||||||||||||
Derivative receivables: | ||||||||||||||||||||||||||||||||
Interest rate | 419 | 848,862 | 5,398 | (828,897 | ) | 25,782 | ||||||||||||||||||||||||||
Credit | — | 79,754 | 3,766 | (82,004 | ) | 1,516 | ||||||||||||||||||||||||||
Foreign exchange | 434 | 151,521 | 1,644 | (136,809 | ) | 16,790 | ||||||||||||||||||||||||||
Equity | — | 45,892 | 7,039 | (40,704 | ) | 12,227 | ||||||||||||||||||||||||||
Commodity | 320 | 34,696 | 722 | (26,294 | ) | 9,444 | ||||||||||||||||||||||||||
Total derivative receivables(e) | 1,173 | 1,160,725 | 18,569 | (1,114,708 | ) | 65,759 | ||||||||||||||||||||||||||
Total trading assets | 154,507 | 1,289,072 | 45,793 | (1,114,708 | ) | 374,664 | ||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies(a) | — | 77,815 | — | — | 77,815 | |||||||||||||||||||||||||||
Residential – nonagency | — | 61,760 | 709 | — | 62,469 | |||||||||||||||||||||||||||
Commercial – nonagency | — | 15,900 | 525 | — | 16,425 | |||||||||||||||||||||||||||
Total mortgage-backed securities | — | 155,475 | 1,234 | — | 156,709 | |||||||||||||||||||||||||||
U.S. Treasury and government agencies(a) | 21,091 | 298 | — | — | 21,389 | |||||||||||||||||||||||||||
Obligations of U.S. states and municipalities | — | 29,461 | — | — | 29,461 | |||||||||||||||||||||||||||
Certificates of deposit | — | 1,041 | — | — | 1,041 | |||||||||||||||||||||||||||
Non-U.S. government debt securities | 25,648 | 30,600 | — | — | 56,248 | |||||||||||||||||||||||||||
Corporate debt securities | — | 21,512 | — | — | 21,512 | |||||||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||||||
Collateralized loan obligations | — | 27,409 | 821 | — | 28,230 | |||||||||||||||||||||||||||
Other | — | 11,978 | 267 | — | 12,245 | |||||||||||||||||||||||||||
Equity securities | 3,142 | — | — | — | 3,142 | |||||||||||||||||||||||||||
Total available-for-sale securities | 49,881 | 277,774 | 2,322 | — | 329,977 | |||||||||||||||||||||||||||
Loans | — | 80 | 1,931 | — | 2,011 | |||||||||||||||||||||||||||
Mortgage servicing rights | — | — | 9,614 | — | 9,614 | |||||||||||||||||||||||||||
Other assets: | ||||||||||||||||||||||||||||||||
Private equity investments(f) | 606 | 429 | 6,474 | — | 7,509 | |||||||||||||||||||||||||||
All other | 4,213 | 289 | 3,176 | — | 7,678 | |||||||||||||||||||||||||||
Total other assets | 4,819 | 718 | 9,650 | — | 15,187 | |||||||||||||||||||||||||||
Total assets measured at fair value on a recurring basis | $ | 209,207 | $ | 1,596,518 | (g) | $ | 69,310 | (g) | $ | (1,114,708 | ) | $ | 760,327 | |||||||||||||||||||
Deposits | $ | — | $ | 4,369 | $ | 2,255 | $ | — | $ | 6,624 | ||||||||||||||||||||||
Federal funds purchased and securities loaned or sold under repurchase agreements | — | 5,426 | — | — | 5,426 | |||||||||||||||||||||||||||
Other borrowed funds | — | 11,232 | 2,074 | — | 13,306 | |||||||||||||||||||||||||||
Trading liabilities: | ||||||||||||||||||||||||||||||||
Debt and equity instruments(d) | 61,262 | 19,055 | 113 | — | 80,430 | |||||||||||||||||||||||||||
Derivative payables: | ||||||||||||||||||||||||||||||||
Interest rate | 321 | 822,014 | 3,019 | (812,071 | ) | 13,283 | ||||||||||||||||||||||||||
Credit | — | 78,731 | 3,671 | (80,121 | ) | 2,281 | ||||||||||||||||||||||||||
Foreign exchange | 443 | 156,838 | 2,844 | (144,178 | ) | 15,947 | ||||||||||||||||||||||||||
Equity | — | 46,552 | 8,102 | (39,935 | ) | 14,719 | ||||||||||||||||||||||||||
Commodity | 398 | 36,609 | 607 | (26,530 | ) | 11,084 | ||||||||||||||||||||||||||
Total derivative payables(e) | 1,162 | 1,140,744 | 18,243 | (1,102,835 | ) | 57,314 | ||||||||||||||||||||||||||
Total trading liabilities | 62,424 | 1,159,799 | 18,356 | (1,102,835 | ) | 137,744 | ||||||||||||||||||||||||||
Accounts payable and other liabilities | — | — | 25 | — | 25 | |||||||||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | — | 756 | 1,240 | — | 1,996 | |||||||||||||||||||||||||||
Long-term debt | — | 18,870 | 10,008 | — | 28,878 | |||||||||||||||||||||||||||
Total liabilities measured at fair value on a recurring basis | $ | 62,424 | $ | 1,200,452 | $ | 33,958 | $ | (1,102,835 | ) | $ | 193,999 | |||||||||||||||||||||
Fair value hierarchy | ||||||||||||||||||||||||||||||||
December 31, 2012 (in millions) | Level 1 | Level 2 | Level 3 | Netting adjustments | Total fair value | |||||||||||||||||||||||||||
Federal funds sold and securities purchased under resale agreements | $ | — | $ | 24,258 | $ | — | $ | — | $ | 24,258 | ||||||||||||||||||||||
Securities borrowed | — | 10,177 | — | — | 10,177 | |||||||||||||||||||||||||||
Trading assets: | ||||||||||||||||||||||||||||||||
Debt instruments: | ||||||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies(a) | — | 36,240 | 498 | — | 36,738 | |||||||||||||||||||||||||||
Residential – nonagency | — | 1,509 | 663 | — | 2,172 | |||||||||||||||||||||||||||
Commercial – nonagency | — | 1,565 | 1,207 | — | 2,772 | |||||||||||||||||||||||||||
Total mortgage-backed securities | — | 39,314 | 2,368 | — | 41,682 | |||||||||||||||||||||||||||
U.S. Treasury and government agencies(a)(h) | 15,170 | 7,255 | — | — | 22,425 | |||||||||||||||||||||||||||
Obligations of U.S. states and municipalities | — | 16,726 | 1,436 | — | 18,162 | |||||||||||||||||||||||||||
Certificates of deposit, bankers’ acceptances and commercial paper | — | 4,759 | — | — | 4,759 | |||||||||||||||||||||||||||
Non-U.S. government debt securities(h) | 26,095 | 44,028 | 67 | — | 70,190 | |||||||||||||||||||||||||||
Corporate debt securities(h) | — | 31,882 | 5,308 | — | 37,190 | |||||||||||||||||||||||||||
Loans(b) | — | 30,754 | 10,787 | — | 41,541 | |||||||||||||||||||||||||||
Asset-backed securities | — | 4,182 | 3,696 | — | 7,878 | |||||||||||||||||||||||||||
Total debt instruments | 41,265 | 178,900 | 23,662 | — | 243,827 | |||||||||||||||||||||||||||
Equity securities | 106,898 | 2,687 | 1,114 | — | 110,699 | |||||||||||||||||||||||||||
Physical commodities(c) | 10,107 | 6,066 | — | — | 16,173 | |||||||||||||||||||||||||||
Other | — | 3,483 | 863 | — | 4,346 | |||||||||||||||||||||||||||
Total debt and equity instruments(d) | 158,270 | 191,136 | 25,639 | — | 375,045 | |||||||||||||||||||||||||||
Derivative receivables: | ||||||||||||||||||||||||||||||||
Interest rate(h) | 476 | 1,295,239 | 6,617 | (1,263,127 | ) | 39,205 | ||||||||||||||||||||||||||
Credit | — | 93,821 | 6,489 | (98,575 | ) | 1,735 | ||||||||||||||||||||||||||
Foreign exchange(h) | 450 | 143,752 | 3,051 | (133,111 | ) | 14,142 | ||||||||||||||||||||||||||
Equity(h) | — | 37,758 | 4,921 | (33,413 | ) | 9,266 | ||||||||||||||||||||||||||
Commodity(h) | 316 | 42,300 | 1,155 | (33,136 | ) | 10,635 | ||||||||||||||||||||||||||
Total derivative receivables(e) | 1,242 | 1,612,870 | 22,233 | (1,561,362 | ) | 74,983 | ||||||||||||||||||||||||||
Total trading assets | 159,512 | 1,804,006 | 47,872 | (1,561,362 | ) | 450,028 | ||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies(a) | — | 98,388 | — | — | 98,388 | |||||||||||||||||||||||||||
Residential – nonagency | — | 74,189 | 450 | — | 74,639 | |||||||||||||||||||||||||||
Commercial – nonagency | — | 12,948 | 255 | — | 13,203 | |||||||||||||||||||||||||||
Total mortgage-backed securities | — | 185,525 | 705 | — | 186,230 | |||||||||||||||||||||||||||
U.S. Treasury and government agencies(a)(h) | 11,089 | 1,041 | — | — | 12,130 | |||||||||||||||||||||||||||
Obligations of U.S. states and municipalities | 35 | 21,489 | 187 | — | 21,711 | |||||||||||||||||||||||||||
Certificates of deposit | — | 2,783 | — | — | 2,783 | |||||||||||||||||||||||||||
Non-U.S. government debt securities(h) | 29,556 | 36,488 | — | — | 66,044 | |||||||||||||||||||||||||||
Corporate debt securities | — | 38,609 | — | — | 38,609 | |||||||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||||||
Collateralized loan obligations | — | — | 27,896 | — | 27,896 | |||||||||||||||||||||||||||
Other | — | 12,843 | 128 | — | 12,971 | |||||||||||||||||||||||||||
Equity securities | 2,733 | 38 | — | — | 2,771 | |||||||||||||||||||||||||||
Total available-for-sale securities | 43,413 | 298,816 | 28,916 | — | 371,145 | |||||||||||||||||||||||||||
Loans | — | 273 | 2,282 | — | 2,555 | |||||||||||||||||||||||||||
Mortgage servicing rights | — | — | 7,614 | — | 7,614 | |||||||||||||||||||||||||||
Other assets: | ||||||||||||||||||||||||||||||||
Private equity investments(f) | 578 | — | 7,181 | — | 7,759 | |||||||||||||||||||||||||||
All other | 4,188 | 253 | 4,258 | — | 8,699 | |||||||||||||||||||||||||||
Total other assets | 4,766 | 253 | 11,439 | — | 16,458 | |||||||||||||||||||||||||||
Total assets measured at fair value on a recurring basis | $ | 207,691 | $ | 2,137,783 | (g) | $ | 98,123 | (g) | $ | (1,561,362 | ) | $ | 882,235 | |||||||||||||||||||
Deposits | $ | — | $ | 3,750 | $ | 1,983 | $ | — | $ | 5,733 | ||||||||||||||||||||||
Federal funds purchased and securities loaned or sold under repurchase agreements | — | 4,388 | — | — | 4,388 | |||||||||||||||||||||||||||
Other borrowed funds | — | 9,972 | 1,619 | — | 11,591 | |||||||||||||||||||||||||||
Trading liabilities: | ||||||||||||||||||||||||||||||||
Debt and equity instruments(d)(h) | 47,469 | 13,588 | 205 | — | 61,262 | |||||||||||||||||||||||||||
Derivative payables: | ||||||||||||||||||||||||||||||||
Interest rate(h) | 490 | 1,256,989 | 3,295 | (1,235,868 | ) | 24,906 | ||||||||||||||||||||||||||
Credit | — | 95,411 | 4,616 | (97,523 | ) | 2,504 | ||||||||||||||||||||||||||
Foreign exchange(h) | 428 | 155,323 | 4,801 | (141,951 | ) | 18,601 | ||||||||||||||||||||||||||
Equity(h) | — | 37,808 | 6,727 | (32,716 | ) | 11,819 | ||||||||||||||||||||||||||
Commodity(h) | 176 | 46,548 | 901 | (34,799 | ) | 12,826 | ||||||||||||||||||||||||||
Total derivative payables(e) | 1,094 | 1,592,079 | 20,340 | (1,542,857 | ) | 70,656 | ||||||||||||||||||||||||||
Total trading liabilities | 48,563 | 1,605,667 | 20,545 | (1,542,857 | ) | 131,918 | ||||||||||||||||||||||||||
Accounts payable and other liabilities | — | — | 36 | — | 36 | |||||||||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | — | 245 | 925 | — | 1,170 | |||||||||||||||||||||||||||
Long-term debt | — | 22,312 | 8,476 | — | 30,788 | |||||||||||||||||||||||||||
Total liabilities measured at fair value on a recurring basis | $ | 48,563 | $ | 1,646,334 | $ | 33,584 | $ | (1,542,857 | ) | $ | 185,624 | |||||||||||||||||||||
(a) | At December 31, 2013 and 2012, included total U.S. government-sponsored enterprise obligations of $91.5 billion and $119.4 billion, respectively, which were predominantly mortgage-related. | |||||||||||||||||||||||||||||||
(b) | At December 31, 2013 and 2012, included within trading loans were $14.8 billion and $26.4 billion, respectively, of residential first-lien mortgages, and $2.1 billion and $2.2 billion, respectively, of commercial first-lien mortgages. Residential mortgage loans include conforming mortgage loans originated with the intent to sell to U.S. government agencies of $6.0 billion and $17.4 billion, respectively, and reverse mortgages of $3.6 billion and $4.0 billion, respectively. | |||||||||||||||||||||||||||||||
(c) | Physical commodities inventories are generally accounted for at the lower of cost or market. “Market” is a term defined in U.S. GAAP as not exceeding fair value less costs to sell (“transaction costs”). Transaction costs for the Firm’s physical commodities inventories are either not applicable or immaterial to the value of the inventory. Therefore, market approximates fair value for the Firm’s physical commodities inventories. When fair value hedging has been applied (or when market is below cost), the carrying value of physical commodities approximates fair value, because under fair value hedge accounting, the cost basis is adjusted for changes in fair value. For a further discussion of the Firm’s hedge accounting relationships, see Note 6 on pages 220–233 of this Annual Report. To provide consistent fair value disclosure information, all physical commodities inventories have been included in each period presented. | |||||||||||||||||||||||||||||||
(d) | Balances reflect the reduction of securities owned (long positions) by the amount of securities sold but not yet purchased (short positions) when the long and short positions have identical Committee on Uniform Security Identification Procedures numbers (“CUSIPs”). | |||||||||||||||||||||||||||||||
(e) | As permitted under U.S. GAAP, the Firm has elected to net derivative receivables and derivative payables and the related cash collateral received and paid when a legally enforceable master netting agreement exists. For purposes of the tables above, the Firm does not reduce derivative receivables and derivative payables balances for this netting adjustment, either within or across the levels of the fair value hierarchy, as such netting is not relevant to a presentation based on the transparency of inputs to the valuation of an asset or liability. Therefore, the balances reported in the fair value hierarchy table are gross of any counterparty netting adjustments. However, if the Firm were to net such balances within level 3, the reduction in the level 3 derivative receivables and payables balances would be $7.6 billion and $7.4 billion at December 31, 2013 and 2012, respectively; this is exclusive of the netting benefit associated with cash collateral, which would further reduce the level 3 balances. | |||||||||||||||||||||||||||||||
(f) | Private equity instruments represent investments within the Corporate/Private Equity line of business. The cost basis of the private equity investment portfolio totaled $8.0 billion and $8.4 billion at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||
(g) | Includes investments in hedge funds, private equity funds, real estate and other funds that do not have readily determinable fair values. The Firm uses net asset value per share when measuring the fair value of these investments. At December 31, 2013 and 2012, the fair values of these investments were $3.2 billion and $4.9 billion, respectively, of which $899 million and $1.1 billion, respectively were classified in level 2, and $2.3 billion and $3.8 billion, respectively, in level 3. | |||||||||||||||||||||||||||||||
(h) | The prior period amounts have been revised. This revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | |||||||||||||||||||||||||||||||
Fair value inputs, assets and liabilities, quantitative information | ' | |||||||||||||||||||||||||||||||
Level 3 inputs(a) | ||||||||||||||||||||||||||||||||
December 31, 2013 (in millions, except for ratios and basis points) | ||||||||||||||||||||||||||||||||
Product/Instrument | Fair value | Principal valuation technique | Unobservable inputs | Range of input values | Weighted average | |||||||||||||||||||||||||||
Residential mortgage-backed securities and loans | $ | 11,089 | Discounted cash flows | Yield | 3 | % | - | 18% | 7% | |||||||||||||||||||||||
Prepayment speed | 0 | % | - | 15% | 7% | |||||||||||||||||||||||||||
Conditional default rate | 0 | % | - | 100% | 26% | |||||||||||||||||||||||||||
Loss severity | 0 | % | - | 100% | 21% | |||||||||||||||||||||||||||
Commercial mortgage-backed securities and loans(b) | 1,204 | Discounted cash flows | Yield | 6 | % | - | 29% | 11% | ||||||||||||||||||||||||
Conditional default rate | 0 | % | - | 100% | 10% | |||||||||||||||||||||||||||
Loss severity | 0 | % | - | 40% | 33% | |||||||||||||||||||||||||||
Corporate debt securities, obligations of U.S. states and municipalities, and other(c) | 15,209 | Discounted cash flows | Credit spread | 88 bps | - | 255 bps | 154 bps | |||||||||||||||||||||||||
Yield | 1 | % | - | 40% | 10% | |||||||||||||||||||||||||||
5,843 | Market comparables | Price | 3 | - | 122 | 95 | ||||||||||||||||||||||||||
Net interest rate derivatives | 2,379 | Option pricing | Interest rate correlation | (75 | )% | - | 95% | |||||||||||||||||||||||||
Interest rate spread volatility | 0 | % | - | 60% | ||||||||||||||||||||||||||||
Net credit derivatives(b)(c) | 95 | Discounted cash flows | Credit correlation | 34 | % | - | 82% | |||||||||||||||||||||||||
Net foreign exchange derivatives | (1,200 | ) | Option pricing | Foreign exchange correlation | 45 | % | - | 75% | ||||||||||||||||||||||||
Net equity derivatives | (1,063 | ) | Option pricing | Equity volatility | 20 | % | - | 55% | ||||||||||||||||||||||||
Net commodity derivatives | 115 | Discounted cash flows | Forward commodity price | $20 | - | $160 per megawatt hour | ||||||||||||||||||||||||||
Collateralized loan obligations | 821 | Discounted cash flows | Credit spread | 214 bps | - | 575 bps | 234 bps | |||||||||||||||||||||||||
Prepayment speed | 20% | 20% | ||||||||||||||||||||||||||||||
Conditional default rate | 2% | 2% | ||||||||||||||||||||||||||||||
Loss severity | 40% | 40% | ||||||||||||||||||||||||||||||
487 | Market comparables | Price | 0 | - | 114 | 88 | ||||||||||||||||||||||||||
Mortgage servicing rights (“MSRs”) | 9,614 | Discounted cash flows | Refer to Note 17 on pages 299–304 of this Annual Report. | |||||||||||||||||||||||||||||
Private equity direct investments | 4,872 | Market comparables | EBITDA multiple | 4.0x | - | 14.7x | 8.1x | |||||||||||||||||||||||||
Liquidity adjustment | 0 | % | - | 37% | 11% | |||||||||||||||||||||||||||
Private equity fund investments(d) | 1,602 | Net asset value | Net asset value(f) | |||||||||||||||||||||||||||||
Long-term debt, other borrowed funds, and deposits(e) | 13,282 | Option pricing | Interest rate correlation | (75 | )% | - | 95% | |||||||||||||||||||||||||
Foreign exchange correlation | 0 | % | - | 75% | ||||||||||||||||||||||||||||
Equity correlation | (50 | )% | - | 85% | ||||||||||||||||||||||||||||
1,055 | Discounted cash flows | Credit correlation | 34 | % | - | 82% | ||||||||||||||||||||||||||
(a) | The categories presented in the table have been aggregated based upon the product type, which may differ from their classification on the Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||
(b) | The unobservable inputs and associated input ranges for approximately $735 million of credit derivative receivables and $644 million of credit derivative payables with underlying mortgage risk have been included in the inputs and ranges provided for commercial mortgage-backed securities and loans. | |||||||||||||||||||||||||||||||
(c) | The unobservable inputs and associated input ranges for approximately $1.0 billion of credit derivative receivables and $890 million of credit derivative payables with underlying asset-backed securities risk have been included in the inputs and ranges provided for corporate debt securities, obligations of U.S. states and municipalities and other. | |||||||||||||||||||||||||||||||
(d) | As of December 31, 2013, $757 million of private equity fund exposure was carried at a discount to net asset value per share. | |||||||||||||||||||||||||||||||
(e) | Long-term debt, other borrowed funds and deposits include structured notes issued by the Firm that are predominantly financial instruments containing embedded derivatives. The estimation of the fair value of structured notes is predominantly based on the derivative features embedded within the instruments. The significant unobservable inputs are broadly consistent with those presented for derivative receivables. | |||||||||||||||||||||||||||||||
(f) | The range has not been disclosed due to the wide range of possible values given the diverse nature of the underlying investments. | |||||||||||||||||||||||||||||||
Changes in level 3 recurring fair value measurements | ' | |||||||||||||||||||||||||||||||
Fair value measurements using significant unobservable inputs | ||||||||||||||||||||||||||||||||
Year ended | Fair value at January 1, 2013 | Total realized/unrealized gains/(losses) | Transfers into and/or out of level 3(h) | Fair value at Dec. 31, 2013 | Change in unrealized gains/(losses) related to financial instruments held at Dec. 31, 2013 | |||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||
(in millions) | Purchases(g) | Sales | Settlements | |||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Trading assets: | ||||||||||||||||||||||||||||||||
Debt instruments: | ||||||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | $ | 498 | $ | 169 | $ | 819 | $ | (381 | ) | $ | (100 | ) | $ | — | $ | 1,005 | $ | 200 | ||||||||||||||
Residential – nonagency | 663 | 407 | 780 | (1,028 | ) | (91 | ) | (5 | ) | 726 | 205 | |||||||||||||||||||||
Commercial – nonagency | 1,207 | 114 | 841 | (1,522 | ) | (208 | ) | — | 432 | (4 | ) | |||||||||||||||||||||
Total mortgage-backed securities | 2,368 | 690 | 2,440 | (2,931 | ) | (399 | ) | (5 | ) | 2,163 | 401 | |||||||||||||||||||||
Obligations of U.S. states and municipalities | 1,436 | 71 | 472 | (251 | ) | (346 | ) | — | 1,382 | 18 | ||||||||||||||||||||||
Non-U.S. government debt securities | 67 | 4 | 1,449 | (1,479 | ) | (8 | ) | 110 | 143 | (1 | ) | |||||||||||||||||||||
Corporate debt securities | 5,308 | 103 | 7,602 | (5,975 | ) | (1,882 | ) | 764 | 5,920 | 466 | ||||||||||||||||||||||
Loans | 10,787 | 665 | 10,411 | (7,431 | ) | (685 | ) | (292 | ) | 13,455 | 315 | |||||||||||||||||||||
Asset-backed securities | 3,696 | 191 | 1,912 | (2,379 | ) | (292 | ) | (1,856 | ) | 1,272 | 105 | |||||||||||||||||||||
Total debt instruments | 23,662 | 1,724 | 24,286 | (20,446 | ) | (3,612 | ) | (1,279 | ) | 24,335 | 1,304 | |||||||||||||||||||||
Equity securities | 1,114 | (41 | ) | 328 | (266 | ) | (135 | ) | (115 | ) | 885 | 46 | ||||||||||||||||||||
Physical commodities | — | (4 | ) | — | (8 | ) | — | 16 | 4 | (4 | ) | |||||||||||||||||||||
Other | 863 | 558 | 659 | (95 | ) | (120 | ) | 135 | 2,000 | 1,074 | ||||||||||||||||||||||
Total trading assets – debt and equity instruments | 25,639 | 2,237 | (c) | 25,273 | (20,815 | ) | (3,867 | ) | (1,243 | ) | 27,224 | 2,420 | (c) | |||||||||||||||||||
Net derivative receivables:(a) | ||||||||||||||||||||||||||||||||
Interest rate | 3,322 | 1,358 | 344 | (220 | ) | (2,391 | ) | (34 | ) | 2,379 | 107 | |||||||||||||||||||||
Credit | 1,873 | (1,697 | ) | 115 | (12 | ) | (357 | ) | 173 | 95 | (1,449 | ) | ||||||||||||||||||||
Foreign exchange | (1,750 | ) | (101 | ) | 3 | (4 | ) | 683 | (31 | ) | (1,200 | ) | (110 | ) | ||||||||||||||||||
Equity | (1,806 | ) | 2,587 | 2,918 | (3,783 | ) | (1,353 | ) | 374 | (1,063 | ) | 872 | ||||||||||||||||||||
Commodity | 254 | 816 | 105 | (3 | ) | (1,107 | ) | 50 | 115 | 410 | ||||||||||||||||||||||
Total net derivative receivables | 1,893 | 2,963 | (c) | 3,485 | (4,022 | ) | (4,525 | ) | 532 | 326 | (170 | ) | (c) | |||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||||||
Asset-backed securities | 28,024 | 4 | 579 | (57 | ) | (57 | ) | (27,405 | ) | 1,088 | 4 | |||||||||||||||||||||
Other | 892 | 26 | 508 | (216 | ) | (6 | ) | 30 | 1,234 | 25 | ||||||||||||||||||||||
Total available-for-sale securities | 28,916 | 30 | (d) | 1,087 | (273 | ) | (63 | ) | (27,375 | ) | 2,322 | 29 | (d) | |||||||||||||||||||
Loans | 2,282 | 81 | (c) | 1,065 | (191 | ) | (1,306 | ) | — | 1,931 | (21 | ) | (c) | |||||||||||||||||||
Mortgage servicing rights | 7,614 | 1,612 | (e) | 2,215 | (725 | ) | (1,102 | ) | — | 9,614 | 1,612 | (e) | ||||||||||||||||||||
Other assets: | ||||||||||||||||||||||||||||||||
Private equity investments | 7,181 | 645 | (c) | 673 | (1,137 | ) | (687 | ) | (201 | ) | 6,474 | 262 | (c) | |||||||||||||||||||
All other | 4,258 | 98 | (f) | 272 | (730 | ) | (722 | ) | — | 3,176 | 53 | (f) | ||||||||||||||||||||
Fair value measurements using significant unobservable inputs | ||||||||||||||||||||||||||||||||
Year ended | Fair value at January 1, 2013 | Total realized/unrealized (gains)/losses | Transfers into and/or out of level 3(h) | Fair value at Dec. 31, 2013 | Change in unrealized (gains)/losses related to financial instruments held at Dec. 31, 2013 | |||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||
(in millions) | Purchases(g) | Sales | Issuances | Settlements | ||||||||||||||||||||||||||||
Liabilities:(b) | ||||||||||||||||||||||||||||||||
Deposits | $ | 1,983 | $ | (82 | ) | (c) | $ | — | $ | — | $ | 1,248 | $ | (222 | ) | $ | (672 | ) | $ | 2,255 | $ | (88 | ) | (c) | ||||||||
Other borrowed funds | 1,619 | (177 | ) | (c) | — | — | 7,108 | (6,845 | ) | 369 | 2,074 | 291 | (c) | |||||||||||||||||||
Trading liabilities – debt and equity instruments | 205 | (83 | ) | (c) | (2,418 | ) | 2,594 | — | (54 | ) | (131 | ) | 113 | (100 | ) | (c) | ||||||||||||||||
Accounts payable and other liabilities | 36 | (2 | ) | (f) | — | — | — | (9 | ) | — | 25 | (2 | ) | (f) | ||||||||||||||||||
Beneficial interests issued by consolidated VIEs | 925 | 174 | (c) | — | — | 353 | (212 | ) | — | 1,240 | 167 | (c) | ||||||||||||||||||||
Long-term debt | 8,476 | (435 | ) | (c) | — | — | 6,830 | (4,362 | ) | (501 | ) | 10,008 | (85 | ) | (c) | |||||||||||||||||
Fair value measurements using significant unobservable inputs | ||||||||||||||||||||||||||||||||
Year ended | Fair value at January 1, 2012 | Total realized/unrealized gains/(losses) | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized gains/(losses) related to financial instruments held at Dec. 31, 2012 | |||||||||||||||||||||||||||
31-Dec-12 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||
(in millions) | Purchases(g) | Sales | Settlements | |||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Trading assets: | ||||||||||||||||||||||||||||||||
Debt instruments: | ||||||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | $ | 86 | $ | (44 | ) | $ | 575 | $ | (103 | ) | $ | (16 | ) | $ | — | $ | 498 | $ | (21 | ) | ||||||||||||
Residential – nonagency | 796 | 151 | 417 | (533 | ) | (145 | ) | (23 | ) | 663 | 74 | |||||||||||||||||||||
Commercial – nonagency | 1,758 | (159 | ) | 287 | (475 | ) | (104 | ) | (100 | ) | 1,207 | (145 | ) | |||||||||||||||||||
Total mortgage-backed securities | 2,640 | (52 | ) | 1,279 | (1,111 | ) | (265 | ) | (123 | ) | 2,368 | (92 | ) | |||||||||||||||||||
Obligations of U.S. states and municipalities | 1,619 | 37 | 336 | (552 | ) | (4 | ) | — | 1,436 | (15 | ) | |||||||||||||||||||||
Non-U.S. government debt securities | 104 | (6 | ) | 661 | (668 | ) | (24 | ) | — | 67 | (5 | ) | ||||||||||||||||||||
Corporate debt securities | 6,373 | 187 | 8,391 | (6,186 | ) | (3,045 | ) | (412 | ) | 5,308 | 689 | |||||||||||||||||||||
Loans | 12,209 | 836 | 5,342 | (3,269 | ) | (3,801 | ) | (530 | ) | 10,787 | 411 | |||||||||||||||||||||
Asset-backed securities | 7,965 | 272 | 2,550 | (6,468 | ) | (614 | ) | (9 | ) | 3,696 | 184 | |||||||||||||||||||||
Total debt instruments | 30,910 | 1,274 | 18,559 | (18,254 | ) | (7,753 | ) | (1,074 | ) | 23,662 | 1,172 | |||||||||||||||||||||
Equity securities | 1,177 | (209 | ) | 460 | (379 | ) | (12 | ) | 77 | 1,114 | (112 | ) | ||||||||||||||||||||
Other | 880 | 186 | 68 | (108 | ) | (163 | ) | — | 863 | 180 | ||||||||||||||||||||||
Total trading assets – debt and equity instruments | 32,967 | 1,251 | (c) | 19,087 | (18,741 | ) | (7,928 | ) | (997 | ) | 25,639 | 1,240 | (c) | |||||||||||||||||||
Net derivative receivables:(a) | ||||||||||||||||||||||||||||||||
Interest rate | 3,561 | 6,930 | 406 | (194 | ) | (7,071 | ) | (310 | ) | 3,322 | 905 | |||||||||||||||||||||
Credit | 7,732 | (4,487 | ) | 124 | (84 | ) | (1,416 | ) | 4 | 1,873 | (3,271 | ) | ||||||||||||||||||||
Foreign exchange | (1,263 | ) | (800 | ) | 112 | (184 | ) | 436 | (51 | ) | (1,750 | ) | (957 | ) | ||||||||||||||||||
Equity | (3,105 | ) | 168 | 1,676 | (2,579 | ) | 899 | 1,135 | (1,806 | ) | 580 | |||||||||||||||||||||
Commodity | (687 | ) | (673 | ) | 74 | 64 | 1,278 | 198 | 254 | (160 | ) | |||||||||||||||||||||
Total net derivative receivables | 6,238 | 1,138 | (c) | 2,392 | (2,977 | ) | (5,874 | ) | 976 | 1,893 | (2,903 | ) | (c) | |||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||||||
Asset-backed securities | 24,958 | 135 | 9,280 | (3,361 | ) | (3,104 | ) | 116 | 28,024 | 118 | ||||||||||||||||||||||
Other | 528 | 55 | 667 | (113 | ) | (245 | ) | — | 892 | 59 | ||||||||||||||||||||||
Total available-for-sale securities | 25,486 | 190 | (d) | 9,947 | (3,474 | ) | (3,349 | ) | 116 | 28,916 | 177 | (d) | ||||||||||||||||||||
Loans | 1,647 | 695 | (c) | 1,536 | (22 | ) | (1,718 | ) | 144 | 2,282 | 12 | (c) | ||||||||||||||||||||
Mortgage servicing rights | 7,223 | (635 | ) | (e) | 2,833 | (579 | ) | (1,228 | ) | — | 7,614 | (635 | ) | (e) | ||||||||||||||||||
Other assets: | ||||||||||||||||||||||||||||||||
Private equity investments | 6,751 | 420 | (c) | 1,545 | (512 | ) | (977 | ) | (46 | ) | 7,181 | 333 | (c) | |||||||||||||||||||
All other | 4,374 | (195 | ) | (f) | 818 | (238 | ) | (501 | ) | — | 4,258 | (200 | ) | (f) | ||||||||||||||||||
Fair value measurements using significant unobservable inputs | ||||||||||||||||||||||||||||||||
Year ended | Fair value at January 1, 2012 | Total realized/unrealized (gains)/losses | Transfers into and/or out of level 3(h) | Fair value at Dec. 31, 2012 | Change in unrealized (gains)/losses related to financial instruments held at Dec. 31, 2012 | |||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||
(in millions) | Purchases(g) | Sales | Issuances | Settlements | ||||||||||||||||||||||||||||
Liabilities:(b) | ||||||||||||||||||||||||||||||||
Deposits | $ | 1,418 | $ | 212 | (c) | $ | — | $ | — | $ | 1,236 | $ | (380 | ) | $ | (503 | ) | $ | 1,983 | $ | 185 | (c) | ||||||||||
Other borrowed funds | 1,507 | 148 | (c) | — | — | 1,646 | (1,774 | ) | 92 | 1,619 | 72 | (c) | ||||||||||||||||||||
Trading liabilities – debt and equity instruments | 211 | (16 | ) | (c) | (2,875 | ) | 2,940 | — | (50 | ) | (5 | ) | 205 | (12 | ) | (c) | ||||||||||||||||
Accounts payable and other liabilities | 51 | 1 | (f) | — | — | — | (16 | ) | — | 36 | 1 | (f) | ||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | 791 | 181 | (c) | — | — | 221 | (268 | ) | — | 925 | 143 | (c) | ||||||||||||||||||||
Long-term debt | 10,310 | 328 | (c) | — | — | 3,662 | (4,511 | ) | (1,313 | ) | 8,476 | (101 | ) | (c) | ||||||||||||||||||
Fair value measurements using significant unobservable inputs | ||||||||||||||||||||||||||||||||
Year ended | Fair value at January 1, 2011 | Total realized/unrealized gains/(losses) | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized gains/(losses) related to financial instruments held at Dec. 31, 2011 | |||||||||||||||||||||||||||
31-Dec-11 | Dec. 31, 2011 | |||||||||||||||||||||||||||||||
(in millions) | Purchases(g) | Sales | Settlements | |||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Trading assets: | ||||||||||||||||||||||||||||||||
Debt instruments: | ||||||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||||
U.S. government agencies | $ | 174 | $ | 24 | $ | 28 | $ | (39 | ) | $ | (43 | ) | $ | (58 | ) | $ | 86 | $ | (51 | ) | ||||||||||||
Residential – nonagency | 687 | 109 | 708 | (432 | ) | (221 | ) | (55 | ) | 796 | (9 | ) | ||||||||||||||||||||
Commercial – nonagency | 2,069 | 37 | 796 | (973 | ) | (171 | ) | — | 1,758 | 33 | ||||||||||||||||||||||
Total mortgage-backed securities | 2,930 | 170 | 1,532 | (1,444 | ) | (435 | ) | (113 | ) | 2,640 | (27 | ) | ||||||||||||||||||||
Obligations of U.S. states and municipalities | 2,257 | 9 | 807 | (1,465 | ) | (1 | ) | 12 | 1,619 | (11 | ) | |||||||||||||||||||||
Non-U.S. government debt securities | 202 | 35 | 552 | (531 | ) | (80 | ) | (74 | ) | 104 | 38 | |||||||||||||||||||||
Corporate debt securities | 4,946 | 32 | 8,080 | (5,939 | ) | (1,005 | ) | 259 | 6,373 | 26 | ||||||||||||||||||||||
Loans | 13,144 | 329 | 5,532 | (3,873 | ) | (2,691 | ) | (232 | ) | 12,209 | 142 | |||||||||||||||||||||
Asset-backed securities | 8,460 | 90 | 4,185 | (4,368 | ) | (424 | ) | 22 | 7,965 | (217 | ) | |||||||||||||||||||||
Total debt instruments | 31,939 | 665 | 20,688 | (17,620 | ) | (4,636 | ) | (126 | ) | 30,910 | (49 | ) | ||||||||||||||||||||
Equity securities | 1,685 | 267 | 180 | (541 | ) | (352 | ) | (62 | ) | 1,177 | 278 | |||||||||||||||||||||
Other | 930 | 48 | 36 | (39 | ) | (95 | ) | — | 880 | 79 | ||||||||||||||||||||||
Total trading assets – debt and equity instruments | 34,554 | 980 | (c) | 20,904 | (18,200 | ) | (5,083 | ) | (188 | ) | 32,967 | 308 | (c) | |||||||||||||||||||
Net derivative receivables:(a) | ||||||||||||||||||||||||||||||||
Interest rate | 2,836 | 5,205 | 511 | (219 | ) | (4,534 | ) | (238 | ) | 3,561 | 1,497 | |||||||||||||||||||||
Credit | 5,386 | 2,240 | 22 | (13 | ) | 116 | (19 | ) | 7,732 | 2,744 | ||||||||||||||||||||||
Foreign exchange | (614 | ) | (1,913 | ) | 191 | (20 | ) | 886 | 207 | (1,263 | ) | (1,878 | ) | |||||||||||||||||||
Equity | (2,446 | ) | (60 | ) | 715 | (1,449 | ) | 37 | 98 | (3,105 | ) | (132 | ) | |||||||||||||||||||
Commodity | (805 | ) | 596 | 328 | (350 | ) | (294 | ) | (162 | ) | (687 | ) | 208 | |||||||||||||||||||
Total net derivative receivables | 4,357 | 6,068 | (c) | 1,767 | (2,051 | ) | (3,789 | ) | (114 | ) | 6,238 | 2,439 | (c) | |||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||||||
Asset-backed securities | 13,775 | (95 | ) | 15,268 | (1,461 | ) | (2,529 | ) | — | 24,958 | (106 | ) | ||||||||||||||||||||
Other | 512 | — | 57 | (15 | ) | (26 | ) | — | 528 | 8 | ||||||||||||||||||||||
Total available-for-sale securities | 14,287 | (95 | ) | (d) | 15,325 | (1,476 | ) | (2,555 | ) | — | 25,486 | (98 | ) | (d) | ||||||||||||||||||
Loans | 1,466 | 504 | (c) | 326 | (9 | ) | (639 | ) | (1 | ) | 1,647 | 484 | (c) | |||||||||||||||||||
Mortgage servicing rights | 13,649 | (7,119 | ) | (e) | 2,603 | — | (1,910 | ) | — | 7,223 | (7,119 | ) | (e) | |||||||||||||||||||
Other assets: | ||||||||||||||||||||||||||||||||
Private equity investments | 7,862 | 943 | (c) | 1,452 | (2,746 | ) | (594 | ) | (166 | ) | 6,751 | (242 | ) | (c) | ||||||||||||||||||
All other | 4,179 | (54 | ) | (f) | 938 | (139 | ) | (521 | ) | (29 | ) | 4,374 | (83 | ) | (f) | |||||||||||||||||
Fair value measurements using significant unobservable inputs | ||||||||||||||||||||||||||||||||
Year ended | Fair value at January 1, 2011 | Total realized/unrealized (gains)/losses | Transfers into and/or out of level 3(h) | Fair value at Dec. 31, 2011 | Change in unrealized (gains)/losses related to financial instruments held at Dec. 31, 2011 | |||||||||||||||||||||||||||
31-Dec-11 | ||||||||||||||||||||||||||||||||
(in millions) | Purchases(g) | Sales | Issuances | Settlements | ||||||||||||||||||||||||||||
Liabilities:(b) | ||||||||||||||||||||||||||||||||
Deposits | $ | 773 | $ | 15 | (c) | $ | — | $ | — | $ | 433 | $ | (386 | ) | $ | 583 | $ | 1,418 | $ | 4 | (c) | |||||||||||
Other borrowed funds | 1,384 | (244 | ) | (c) | — | — | 1,597 | (834 | ) | (396 | ) | 1,507 | (85 | ) | (c) | |||||||||||||||||
Trading liabilities – debt and equity instruments | 54 | 17 | (c) | (533 | ) | 778 | — | (109 | ) | 4 | 211 | (7 | ) | (c) | ||||||||||||||||||
Accounts payable and other liabilities | 236 | (61 | ) | (f) | — | — | — | (124 | ) | — | 51 | 5 | (f) | |||||||||||||||||||
Beneficial interests issued by consolidated VIEs | 873 | 17 | (c) | — | — | 580 | (679 | ) | — | 791 | (15 | ) | (c) | |||||||||||||||||||
Long-term debt | 13,044 | 60 | (c) | — | — | 2,564 | (3,218 | ) | (2,140 | ) | 10,310 | 288 | (c) | |||||||||||||||||||
(a) | All level 3 derivatives are presented on a net basis, irrespective of underlying counterparty. | |||||||||||||||||||||||||||||||
(b) | Level 3 liabilities as a percentage of total Firm liabilities accounted for at fair value (including liabilities measured at fair value on a nonrecurring basis) were 18%, 18% and 22% at December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||||||||||||||
(c) | Predominantly reported in principal transactions revenue, except for changes in fair value for Consumer & Community Banking (“CCB”) mortgage loans, lending-related commitments originated with the intent to sell, and mortgage loan purchase commitments, which are reported in mortgage fees and related income. | |||||||||||||||||||||||||||||||
(d) | Realized gains/(losses) on AFS securities, as well as other-than-temporary impairment losses that are recorded in earnings, are reported in securities gains. Unrealized gains/(losses) are reported in OCI. Realized gains/(losses) and foreign exchange remeasurement adjustments recorded in income on AFS securities were $17 million, $145 million, and $(240) million for the years ended December 31, 2013, 2012 and 2011, respectively. Unrealized gains/(losses) recorded on AFS securities in OCI were $13 million, $45 million and $145 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||||||||||||||
(e) | Changes in fair value for CCB mortgage servicing rights are reported in mortgage fees and related income. | |||||||||||||||||||||||||||||||
(f) | Largely reported in other income. | |||||||||||||||||||||||||||||||
(g) | Loan originations are included in purchases. | |||||||||||||||||||||||||||||||
(h) | All transfers into and/or out of level 3 are assumed to occur at the beginning of the quarterly reporting period in which they occur. | |||||||||||||||||||||||||||||||
Credit adjustments | ' | |||||||||||||||||||||||||||||||
The following table provides the credit and funding adjustments, excluding the effect of any hedging activity, reflected within the Consolidated Balance Sheets as of the dates indicated. | ||||||||||||||||||||||||||||||||
December 31, (in millions) | 2013 | 2012 | ||||||||||||||||||||||||||||||
Derivative receivables balance(a) | $ | 65,759 | $ | 74,983 | ||||||||||||||||||||||||||||
Derivative payables balance(a) | 57,314 | 70,656 | ||||||||||||||||||||||||||||||
Derivatives CVA(b)(c) | (2,352 | ) | (4,238 | ) | ||||||||||||||||||||||||||||
Derivatives DVA and FVA(b)(d) | (322 | ) | 830 | |||||||||||||||||||||||||||||
Structured notes balance (net of structured notes DVA and FVA)(b)(e) | 48,808 | 48,112 | ||||||||||||||||||||||||||||||
Structured notes DVA and FVA(b)(f) | 952 | 1,712 | ||||||||||||||||||||||||||||||
(a) | Balances are presented net of applicable credit and funding adjustments. | |||||||||||||||||||||||||||||||
(b) | Positive credit and funding adjustments represent amounts that increased receivable balances or decreased payable balances; negative credit and funding adjustments represent amounts that decreased receivable balances or increased payable balances. | |||||||||||||||||||||||||||||||
(c) | Derivatives CVA, gross of hedges, includes results managed by the Credit Portfolio and other lines of business within the CIB. | |||||||||||||||||||||||||||||||
(d) | At December 31, 2013 and 2012 included derivatives DVA of $715 million and $830 million, respectively. | |||||||||||||||||||||||||||||||
(e) | Structured notes are predominantly financial instruments containing embedded derivatives. At December 31, 2013 and 2012, included $1.1 billion and $1.1 billion, respectively, of financial instruments with with no embedded derivative for which the fair value option has been elected. | |||||||||||||||||||||||||||||||
(f) | At December 31, 2013 and 2012 included structured notes DVA of $1.4 billion and $1.7 billion, respectively. | |||||||||||||||||||||||||||||||
Impact of credit adjustments on earnings | ' | |||||||||||||||||||||||||||||||
The following table provides the impact of credit and funding adjustments on earnings in the respective periods, excluding the effect of any hedging activity. | ||||||||||||||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||
Derivative CVA(a) | $ | 1,886 | $ | 2,698 | $ | (2,574 | ) | |||||||||||||||||||||||||
Derivative DVA and FVA(b) | (1,152 | ) | (590 | ) | 538 | |||||||||||||||||||||||||||
Structured notes DVA and FVA(c)(d) | (760 | ) | (340 | ) | 899 | |||||||||||||||||||||||||||
(a) | Derivatives CVA, gross of hedges, includes results managed by the Credit Portfolio and other lines of business within the CIB. | |||||||||||||||||||||||||||||||
(b) | At December 31, 2013, 2012 and 2011 included derivatives DVA of $(115) million, $(590) million and $538 million, respectively. | |||||||||||||||||||||||||||||||
(c) | Structured notes are measured at fair value based on the Firm’s election under the fair value option. For further information on these elections, see Note 4 on pages 215–218 of this Annual Report. | |||||||||||||||||||||||||||||||
(d) | At December 31, 2013, 2012 and 2011 included structured notes DVA of $(337) million, $(340) million and $899 million, respectively. | |||||||||||||||||||||||||||||||
Carrying value and estimated fair value of financial assets and liabilities | ' | |||||||||||||||||||||||||||||||
The following table presents the carrying values and estimated fair values at December 31, 2013 and 2012, of financial assets and liabilities, excluding financial instruments which are carried at fair value on a recurring basis, and information is provided on their classification within the fair value hierarchy. For additional information regarding the financial instruments within the scope of this disclosure, and the methods and significant assumptions used to estimate their fair value, see pages 196–200 of this Note. | ||||||||||||||||||||||||||||||||
December 31, 2013 | 31-Dec-12 | |||||||||||||||||||||||||||||||
Estimated fair value hierarchy | Estimated fair value hierarchy | |||||||||||||||||||||||||||||||
(in billions) | Carrying | Level 1 | Level 2 | Level 3 | Total estimated | Carrying | Level 1 | Level 2 | Level 3 | Total estimated | ||||||||||||||||||||||
value | fair value | value | fair value | |||||||||||||||||||||||||||||
Financial assets | ||||||||||||||||||||||||||||||||
Cash and due from banks | $ | 39.8 | $ | 39.8 | $ | — | $ | — | $ | 39.8 | $ | 53.7 | $ | 53.7 | $ | — | $ | — | $ | 53.7 | ||||||||||||
Deposits with banks | 316.1 | 309.7 | 6.4 | — | 316.1 | 121.8 | 114.1 | 7.7 | — | 121.8 | ||||||||||||||||||||||
Accrued interest and accounts receivable | 65.2 | — | 64.9 | 0.3 | 65.2 | 60.9 | — | 60.3 | 0.6 | 60.9 | ||||||||||||||||||||||
Federal funds sold and securities purchased under resale agreements | 223 | — | 223 | — | 223 | 272 | — | 272 | — | 272 | ||||||||||||||||||||||
Securities borrowed | 107.7 | — | 107.7 | — | 107.7 | 108.8 | — | 108.8 | — | 108.8 | ||||||||||||||||||||||
Securities, held-to-maturity(a) | 24 | — | 23.7 | — | 23.7 | — | — | — | — | — | ||||||||||||||||||||||
Loans, net of allowance for loan losses(b) | 720.1 | — | 23 | 697.2 | 720.2 | 709.3 | — | 26.4 | 685.4 | 711.8 | ||||||||||||||||||||||
Other | 58.1 | — | 54.5 | 4.3 | 58.8 | 49.7 | — | 42.7 | 7.4 | 50.1 | ||||||||||||||||||||||
Financial liabilities | ||||||||||||||||||||||||||||||||
Deposits | $ | 1,281.10 | $ | — | $ | 1,280.30 | $ | 1.2 | $ | 1,281.50 | $ | 1,187.90 | $ | — | $ | 1,187.20 | $ | 1.2 | $ | 1,188.40 | ||||||||||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 175.7 | — | 175.7 | — | 175.7 | 235.7 | — | 235.7 | — | 235.7 | ||||||||||||||||||||||
Commercial paper | 57.8 | — | 57.8 | — | 57.8 | 55.4 | — | 55.4 | — | 55.4 | ||||||||||||||||||||||
Other borrowed funds | 14.7 | — | 14.7 | — | 14.7 | 15 | — | 15 | — | 15 | ||||||||||||||||||||||
Accounts payable and other liabilities | 160.2 | — | 158.2 | 1.8 | 160 | 156.5 | — | 153.8 | 2.5 | 156.3 | ||||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | 47.6 | — | 44.3 | 3.2 | 47.5 | 62 | — | 57.7 | 4.4 | 62.1 | ||||||||||||||||||||||
Long-term debt and junior subordinated deferrable interest debentures(c) | 239 | — | 240.8 | 6 | 246.8 | 218.2 | — | 220 | 5.4 | 225.4 | ||||||||||||||||||||||
(a) | Carrying value includes unamortized discount or premium. | |||||||||||||||||||||||||||||||
(b) | Fair value is typically estimated using a discounted cash flow model that incorporates the characteristics of the underlying loans (including principal, contractual interest rate and contractual fees) and other key inputs, including expected lifetime credit losses, interest rates, prepayment rates, and primary origination or secondary market spreads. For certain loans, the fair value is measured based on the value of the underlying collateral. The difference between the estimated fair value and carrying value of a financial asset or liability is the result of the different methodologies used to determine fair value as compared with carrying value. For example, credit losses are estimated for a financial asset’s remaining life in a fair value calculation but are estimated for a loss emergence period in the allowance for loan loss calculation; future loan income (interest and fees) is incorporated in a fair value calculation but is generally not considered in the allowance for loan losses. For a further discussion of the Firm’s methodologies for estimating the fair value of loans and lending-related commitments, see Valuation hierarchy on pages 196–200 of this Annual Report. | |||||||||||||||||||||||||||||||
(c) | Carrying value includes unamortized original issue discount and other valuation adjustments. | |||||||||||||||||||||||||||||||
The Carrying value and estimated fair value of wholesale lending- related commitments | ' | |||||||||||||||||||||||||||||||
The majority of the Firm’s lending-related commitments are not carried at fair value on a recurring basis on the Consolidated Balance Sheets, nor are they actively traded. The carrying value and estimated fair value of the Firm’s wholesale lending-related commitments were as follows for the periods indicated. | ||||||||||||||||||||||||||||||||
December 31, 2013 | 31-Dec-12 | |||||||||||||||||||||||||||||||
Estimated fair value hierarchy | Estimated fair value hierarchy | |||||||||||||||||||||||||||||||
(in billions) | Carrying value(a) | Level 1 | Level 2 | Level 3 | Total estimated fair value | Carrying value(a) | Level 1 | Level 2 | Level 3 | Total estimated fair value | ||||||||||||||||||||||
Wholesale lending-related commitments | $ | 0.7 | $ | — | $ | — | $ | 1 | $ | 1 | $ | 0.7 | $ | — | $ | — | $ | 1.9 | $ | 1.9 | ||||||||||||
(a) | Represents the allowance for wholesale lending-related commitments. Excludes the current carrying values of the guarantee liability and the offsetting asset, each of which are recognized at fair value at the inception of guarantees. | |||||||||||||||||||||||||||||||
Trading assets and liabilities average balances | ' | |||||||||||||||||||||||||||||||
Average trading assets and liabilities were as follows for the periods indicated. | ||||||||||||||||||||||||||||||||
Year ended December 31, (in millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||
Trading assets – debt and equity instruments | $ | 340,449 | $ | 349,337 | $ | 393,890 | ||||||||||||||||||||||||||
Trading assets – derivative receivables | 72,629 | 85,744 | 90,003 | |||||||||||||||||||||||||||||
Trading liabilities – debt and equity instruments(a) | 77,706 | 69,001 | 81,916 | |||||||||||||||||||||||||||||
Trading liabilities – derivative payables | 64,553 | 76,162 | 71,539 | |||||||||||||||||||||||||||||
(a) | Primarily represent securities sold, not yet purchased. |
Fair_Value_Option_Tables
Fair Value Option (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Fair Value Option [Abstract] | ' | ||||||||||||||||||||||||||||||||
Changes in fair value under the fair value option election | ' | ||||||||||||||||||||||||||||||||
The following table presents the changes in fair value included in the Consolidated Statements of Income for the years ended December 31, 2013, 2012 and 2011, for items for which the fair value option was elected. The profit and loss information presented below only includes the financial instruments that were elected to be measured at fair value; related risk management instruments, which are required to be measured at fair value, are not included in the table. | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
December 31, (in millions) | Principal transactions | Other income | Total changes in fair value recorded | Principal transactions | Other income | Total changes in fair value recorded | Principal transactions | Other income | Total changes in fair value recorded | ||||||||||||||||||||||||
Federal funds sold and securities purchased under resale agreements | $ | (454 | ) | $ | — | $ | (454 | ) | $ | 161 | $ | — | $ | 161 | $ | 270 | $ | — | $ | 270 | |||||||||||||
Securities borrowed | 10 | — | 10 | 10 | — | 10 | (61 | ) | — | (61 | ) | ||||||||||||||||||||||
Trading assets: | |||||||||||||||||||||||||||||||||
Debt and equity instruments, excluding loans | 582 | 7 | (c) | 589 | 513 | 7 | (c) | 520 | 53 | (6 | ) | (c) | 47 | ||||||||||||||||||||
Loans reported as trading assets: | |||||||||||||||||||||||||||||||||
Changes in instrument-specific credit risk | 1,161 | 23 | (c) | 1,184 | 1,489 | 81 | (c) | 1,570 | 934 | (174 | ) | (c) | 760 | ||||||||||||||||||||
Other changes in fair value | (133 | ) | 1,833 | (c) | 1,700 | (183 | ) | 7,670 | (c) | 7,487 | 127 | 5,263 | (c) | 5,390 | |||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Changes in instrument-specific credit risk | 36 | — | 36 | (14 | ) | — | (14 | ) | 2 | — | 2 | ||||||||||||||||||||||
Other changes in fair value | 17 | — | 17 | 676 | — | 676 | 535 | — | 535 | ||||||||||||||||||||||||
Other assets | 32 | (29 | ) | (d) | 3 | — | (339 | ) | (d) | (339 | ) | (49 | ) | (19 | ) | (d) | (68 | ) | |||||||||||||||
Deposits(a) | 260 | — | 260 | (188 | ) | — | (188 | ) | (237 | ) | — | (237 | ) | ||||||||||||||||||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 73 | — | 73 | (25 | ) | — | (25 | ) | (4 | ) | — | (4 | ) | ||||||||||||||||||||
Other borrowed funds(a) | (399 | ) | — | (399 | ) | 494 | — | 494 | 2,986 | — | 2,986 | ||||||||||||||||||||||
Trading liabilities | (46 | ) | — | (46 | ) | (41 | ) | — | (41 | ) | (57 | ) | — | (57 | ) | ||||||||||||||||||
Beneficial interests issued by consolidated VIEs | (278 | ) | — | (278 | ) | (166 | ) | — | (166 | ) | (83 | ) | — | (83 | ) | ||||||||||||||||||
Other liabilities | — | 2 | (d) | 2 | — | — | — | (3 | ) | (5 | ) | (d) | (8 | ) | |||||||||||||||||||
Long-term debt: | |||||||||||||||||||||||||||||||||
Changes in instrument-specific credit risk(a) | (271 | ) | — | (271 | ) | (835 | ) | — | (835 | ) | 927 | — | 927 | ||||||||||||||||||||
Other changes in fair value(b) | 1,280 | — | 1,280 | (1,025 | ) | — | (1,025 | ) | 322 | — | 322 | ||||||||||||||||||||||
(a) | Total changes in instrument-specific credit risk related to structured notes were $(337) million, $(340) million, and $899 million for the years ended December 31, 2013, 2012 and 2011, respectively. These totals include adjustments for structured notes classified within deposits and other borrowed funds, as well as long-term debt. | ||||||||||||||||||||||||||||||||
(b) | Structured notes are predominantly financial instruments containing embedded derivatives. Where present, the embedded derivative is the primary driver of risk. Although the risk associated with the structured notes is actively managed, the gains/(losses) reported in this table do not include the income statement impact of the risk management instruments used to manage such risk. | ||||||||||||||||||||||||||||||||
(c) | Reported in mortgage fees and related income. | ||||||||||||||||||||||||||||||||
(d) | Reported in other income. | ||||||||||||||||||||||||||||||||
Difference between aggregate fair value and aggregate remaining contractual principal balance outstanding | ' | ||||||||||||||||||||||||||||||||
The following table reflects the difference between the aggregate fair value and the aggregate remaining contractual principal balance outstanding as of December 31, 2013 and 2012, for loans, long-term debt and long-term beneficial interests for which the fair value option has been elected. | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
December 31, (in millions) | Contractual principal outstanding | Fair value | Fair value over/(under) contractual principal outstanding | Contractual principal outstanding | Fair value | Fair value over/(under) contractual principal outstanding | |||||||||||||||||||||||||||
Loans(a) | |||||||||||||||||||||||||||||||||
Nonaccrual loans | |||||||||||||||||||||||||||||||||
Loans reported as trading assets | $ | 5,156 | $ | 1,491 | $ | (3,665 | ) | $ | 4,217 | $ | 960 | $ | (3,257 | ) | |||||||||||||||||||
Loans(d) | 209 | 154 | (55 | ) | 293 | 236 | (57 | ) | |||||||||||||||||||||||||
Subtotal | 5,365 | 1,645 | (3,720 | ) | 4,510 | 1,196 | (3,314 | ) | |||||||||||||||||||||||||
All other performing loans | |||||||||||||||||||||||||||||||||
Loans reported as trading assets | 33,069 | 29,295 | (3,774 | ) | 44,084 | 40,581 | (3,503 | ) | |||||||||||||||||||||||||
Loans(d) | 1,618 | 1,563 | (55 | ) | 2,034 | 1,927 | (107 | ) | |||||||||||||||||||||||||
Total loans | $ | 40,052 | $ | 32,503 | $ | (7,549 | ) | $ | 50,628 | $ | 43,704 | $ | (6,924 | ) | |||||||||||||||||||
Long-term debt | |||||||||||||||||||||||||||||||||
Principal-protected debt | $ | 15,797 | (c) | $ | 15,909 | $ | 112 | $ | 16,541 | (c) | $ | 16,391 | $ | (150 | ) | ||||||||||||||||||
Nonprincipal-protected debt(b) | NA | 12,969 | NA | NA | 14,397 | NA | |||||||||||||||||||||||||||
Total long-term debt | NA | $ | 28,878 | NA | NA | $ | 30,788 | NA | |||||||||||||||||||||||||
Long-term beneficial interests | |||||||||||||||||||||||||||||||||
Nonprincipal-protected debt(b) | NA | $ | 1,996 | NA | NA | $ | 1,170 | NA | |||||||||||||||||||||||||
Total long-term beneficial interests | NA | $ | 1,996 | NA | NA | $ | 1,170 | NA | |||||||||||||||||||||||||
(a) | There were no performing loans that were ninety days or more past due as of December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||||
(b) | Remaining contractual principal is not applicable to nonprincipal-protected notes. Unlike principal-protected structured notes, for which the Firm is obligated to return a stated amount of principal at the maturity of the note, nonprincipal-protected structured notes do not obligate the Firm to return a stated amount of principal at maturity, but to return an amount based on the performance of an underlying variable or derivative feature embedded in the note. | ||||||||||||||||||||||||||||||||
(c) | Where the Firm issues principal-protected zero-coupon or discount notes, the balance reflected as the remaining contractual principal is the final principal payment at maturity. | ||||||||||||||||||||||||||||||||
(d) | During 2013, certain loans that resulted from restructurings that were previously classified as performing were reclassified as nonperforming loans. Prior periods were revised to conform with the current presentation. | ||||||||||||||||||||||||||||||||
Fair value option, structured notes by balance sheet classification and primary embedded derivative risk | ' | ||||||||||||||||||||||||||||||||
The table below presents the fair value of the structured notes issued by the Firm, by balance sheet classification and the primary risk to which the structured notes’ embedded derivative relates. | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
(in millions) | Long-term debt | Other borrowed funds | Deposits | Total | Long-term debt | Other borrowed funds | Deposits | Total | |||||||||||||||||||||||||
Risk exposure | |||||||||||||||||||||||||||||||||
Interest rate | $ | 9,516 | $ | 615 | $ | 1,270 | $ | 11,401 | $ | 8,669 | $ | 1,143 | $ | 559 | $ | 10,371 | |||||||||||||||||
Credit | 4,248 | 13 | — | 4,261 | 6,166 | — | — | 6,166 | |||||||||||||||||||||||||
Foreign exchange | 2,321 | 194 | 27 | 2,542 | 2,819 | — | 29 | 2,848 | |||||||||||||||||||||||||
Equity | 11,082 | 11,936 | 3,736 | 26,754 | 11,580 | 9,809 | 2,972 | 24,361 | |||||||||||||||||||||||||
Commodity | 1,260 | 310 | 1,133 | 2,703 | 1,379 | 332 | 1,555 | 3,266 | |||||||||||||||||||||||||
Total structured notes | $ | 28,427 | $ | 13,068 | $ | 6,166 | $ | 47,661 | $ | 30,613 | $ | 11,284 | $ | 5,115 | $ | 47,012 | |||||||||||||||||
Credit_Risk_Concentrations_Tab
Credit Risk Concentrations (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Credit Risk Concentrations [Abstract] | ' | |||||||||||||||||||||||||
Concentrations of credit exposure | ' | |||||||||||||||||||||||||
The table below presents both on–balance sheet and off–balance sheet consumer and wholesale-related credit exposure by the Firm’s three credit portfolio segments as of December 31, 2013 and 2012. | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Credit exposure | On-balance sheet | Off-balance sheet(b) | Credit exposure | On-balance sheet | Off-balance sheet(b) | |||||||||||||||||||||
December 31, (in millions) | Loans | Derivatives | Loans | Derivatives | ||||||||||||||||||||||
Total consumer, excluding credit card | $ | 345,259 | $ | 289,063 | $ | — | $ | 56,057 | $ | 352,889 | $ | 292,620 | $ | — | $ | 60,156 | ||||||||||
Total credit card | 657,174 | 127,791 | — | 529,383 | 661,011 | 127,993 | — | 533,018 | ||||||||||||||||||
Total consumer | 1,002,433 | 416,854 | — | 585,440 | 1,013,900 | 420,613 | — | 593,174 | ||||||||||||||||||
Wholesale-related | ||||||||||||||||||||||||||
Real Estate | 87,102 | 69,151 | 460 | 17,491 | 76,198 | 60,740 | 1,084 | 14,374 | ||||||||||||||||||
Banks & Finance Cos | 66,881 | 25,482 | 18,888 | 22,511 | 73,318 | 26,651 | 19,846 | 26,821 | ||||||||||||||||||
Oil & Gas | 46,934 | 14,383 | 2,203 | 30,348 | 42,563 | 14,704 | 2,345 | 25,514 | ||||||||||||||||||
Healthcare | 45,910 | 13,319 | 3,202 | 29,389 | 48,487 | 11,638 | 3,359 | 33,490 | ||||||||||||||||||
State & Municipal Govt | 35,666 | 8,708 | 3,319 | 23,639 | 41,821 | 7,998 | 5,138 | 28,685 | ||||||||||||||||||
Consumer Products | 34,145 | 9,099 | 715 | 24,331 | 32,778 | 9,151 | 826 | 22,801 | ||||||||||||||||||
Asset Managers | 33,506 | 5,656 | 7,175 | 20,675 | 31,474 | 6,220 | 8,390 | 16,864 | ||||||||||||||||||
Utilities | 28,983 | 5,582 | 2,248 | 21,153 | 29,533 | 6,814 | 2,649 | 20,070 | ||||||||||||||||||
Retail & Consumer Services | 25,068 | 7,504 | 273 | 17,291 | 25,597 | 7,901 | 429 | 17,267 | ||||||||||||||||||
Technology | 21,403 | 4,426 | 1,392 | 15,585 | 18,488 | 3,806 | 1,192 | 13,490 | ||||||||||||||||||
Central Govt | 21,049 | 1,754 | 9,998 | 9,297 | 21,223 | 1,333 | 11,232 | 8,658 | ||||||||||||||||||
Machinery & Equipment Mfg | 19,078 | 5,969 | 476 | 12,633 | 18,504 | 6,304 | 592 | 11,608 | ||||||||||||||||||
Metals/Mining | 17,434 | 5,825 | 560 | 11,049 | 20,958 | 6,059 | 624 | 14,275 | ||||||||||||||||||
Business Services | 14,601 | 4,497 | 594 | 9,510 | 13,577 | 4,550 | 190 | 8,837 | ||||||||||||||||||
Transportation | 13,975 | 6,845 | 621 | 6,509 | 19,827 | 12,763 | 673 | 6,391 | ||||||||||||||||||
All other(a) | 308,519 | 120,063 | 13,635 | 174,821 | 301,673 | 119,590 | 16,414 | 165,669 | ||||||||||||||||||
Subtotal | 820,254 | 308,263 | 65,759 | 446,232 | 816,019 | 306,222 | 74,983 | 434,814 | ||||||||||||||||||
Loans held-for-sale and loans at fair value | 13,301 | 13,301 | — | — | 6,961 | 6,961 | — | — | ||||||||||||||||||
Receivables from customers and other | 26,744 | — | — | — | 23,648 | — | — | — | ||||||||||||||||||
Total wholesale-related | 860,299 | 321,564 | 65,759 | 446,232 | $ | 846,628 | $ | 313,183 | 74,983 | 434,814 | ||||||||||||||||
Total exposure(c) | $ | 1,862,732 | $ | 738,418 | $ | 65,759 | $ | 1,031,672 | $ | 1,860,528 | $ | 733,796 | $ | 74,983 | $ | 1,027,988 | ||||||||||
(a) | For more information on exposures to SPEs included within All other see Note 16 on pages 288–299 of this Annual Report. | |||||||||||||||||||||||||
(b) | Represents lending-related financial instruments. | |||||||||||||||||||||||||
(c) | For further information regarding on–balance sheet credit concentrations by major product and/or geography, see Notes 6, 14 and 15 on pages 220–233, 258–283 and 284–287, respectively, of this Annual Report. For information regarding concentrations of off–balance sheet lending-related financial instruments by major product, see Note 29 on pages 318–324 of this Annual Report. |
Derivative_Instruments_Tables
Derivative Instruments (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Notional amount of derivative contracts | ' | ||||||||||||||||||||||||||||
The following table summarizes the notional amount of derivative contracts outstanding as of December 31, 2013 and 2012. | |||||||||||||||||||||||||||||
Notional amounts(c) | |||||||||||||||||||||||||||||
December 31, (in billions) | 2013 | 2012 | |||||||||||||||||||||||||||
Interest rate contracts(a) | |||||||||||||||||||||||||||||
Swaps | $ | 35,221 | $ | 33,037 | |||||||||||||||||||||||||
Futures and forwards | 11,251 | 11,756 | |||||||||||||||||||||||||||
Written options | 3,991 | 3,860 | |||||||||||||||||||||||||||
Purchased options | 4,187 | 3,909 | |||||||||||||||||||||||||||
Total interest rate contracts | 54,650 | 52,562 | |||||||||||||||||||||||||||
Credit derivatives(b) | 5,386 | 5,981 | |||||||||||||||||||||||||||
Foreign exchange contracts(a) | |||||||||||||||||||||||||||||
Cross-currency swaps | 3,488 | 3,413 | |||||||||||||||||||||||||||
Spot, futures and forwards | 3,773 | 4,005 | |||||||||||||||||||||||||||
Written options | 659 | 651 | |||||||||||||||||||||||||||
Purchased options | 652 | 662 | |||||||||||||||||||||||||||
Total foreign exchange contracts | 8,572 | 8,731 | |||||||||||||||||||||||||||
Equity contracts | |||||||||||||||||||||||||||||
Swaps | 205 | 163 | |||||||||||||||||||||||||||
Futures and forwards(a) | 49 | 38 | |||||||||||||||||||||||||||
Written options(a) | 425 | 441 | |||||||||||||||||||||||||||
Purchased options | 380 | 403 | |||||||||||||||||||||||||||
Total equity contracts | 1,059 | 1,045 | |||||||||||||||||||||||||||
Commodity contracts | |||||||||||||||||||||||||||||
Swaps(a) | 124 | 120 | |||||||||||||||||||||||||||
Spot, futures and forwards(a) | 234 | 367 | |||||||||||||||||||||||||||
Written options | 202 | 262 | |||||||||||||||||||||||||||
Purchased options | 203 | 260 | |||||||||||||||||||||||||||
Total commodity contracts | 763 | 1,009 | |||||||||||||||||||||||||||
Total derivative notional amounts | $ | 70,430 | $ | 69,328 | |||||||||||||||||||||||||
(a) | The prior period amounts have been revised. This revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | ||||||||||||||||||||||||||||
(b) | Primarily consists of credit default swaps. For more information on volumes and types of credit derivative contracts, see the Credit derivatives discussion on pages 231–233 of this Note. | ||||||||||||||||||||||||||||
(c) | Represents the sum of gross long and gross short third-party notional derivative contracts. | ||||||||||||||||||||||||||||
Offsetting assets | ' | ||||||||||||||||||||||||||||
The following table presents, as of December 31, 2013 and 2012, the gross and net derivative receivables by contract and settlement type. Derivative receivables have been netted on the Consolidated Balance Sheets against derivative payables to the same counterparty with respect to derivative contracts for which the Firm has obtained an appropriate legal opinion with respect to the master netting agreement. Where such a legal opinion has not been either sought or obtained, the receivables are not eligible under U.S. GAAP for netting against related derivative payables on the Consolidated Balance Sheets, and are shown separately in the table below. | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
December 31, (in millions) | Gross derivative receivables | Amounts netted on the Consolidated balance sheets | Net derivative receivables | Gross derivative receivables | Amounts netted on the Consolidated balance sheets | Net derivative receivables | |||||||||||||||||||||||
U.S. GAAP nettable derivative receivables | |||||||||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||||||
Over–the–counter (“OTC”)(a) | $ | 486,449 | $ | (466,493 | ) | $ | 19,956 | $ | 794,282 | $ | (771,449 | ) | $ | 22,833 | |||||||||||||||
OTC–cleared | 362,426 | (362,404 | ) | 22 | 491,947 | (491,678 | ) | 269 | |||||||||||||||||||||
Exchange traded(b) | — | — | — | — | — | — | |||||||||||||||||||||||
Total interest rate contracts | 848,875 | (828,897 | ) | 19,978 | 1,286,229 | (1,263,127 | ) | 23,102 | |||||||||||||||||||||
Credit contracts: | |||||||||||||||||||||||||||||
OTC | 66,269 | (65,725 | ) | 544 | 90,744 | (90,104 | ) | 640 | |||||||||||||||||||||
OTC–cleared | 16,841 | (16,279 | ) | 562 | 8,471 | (8,471 | ) | — | |||||||||||||||||||||
Total credit contracts | 83,110 | (82,004 | ) | 1,106 | 99,215 | (98,575 | ) | 640 | |||||||||||||||||||||
Foreign exchange contracts: | |||||||||||||||||||||||||||||
OTC(a) | 148,953 | (136,763 | ) | 12,190 | 141,053 | (133,088 | ) | 7,965 | |||||||||||||||||||||
OTC–cleared | 46 | (46 | ) | — | 23 | (23 | ) | — | |||||||||||||||||||||
Exchange traded(b) | — | — | — | — | — | — | |||||||||||||||||||||||
Total foreign exchange contracts | 148,999 | (136,809 | ) | 12,190 | 141,076 | (133,111 | ) | 7,965 | |||||||||||||||||||||
Equity contracts: | |||||||||||||||||||||||||||||
OTC(a) | 31,870 | (29,289 | ) | 2,581 | 26,025 | (24,645 | ) | 1,380 | |||||||||||||||||||||
OTC–cleared | — | — | — | — | — | — | |||||||||||||||||||||||
Exchange traded(b) | 17,732 | (11,415 | ) | 6,317 | 12,841 | (8,768 | ) | 4,073 | |||||||||||||||||||||
Total equity contracts | 49,602 | (40,704 | ) | 8,898 | 38,866 | (33,413 | ) | 5,453 | |||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||||||
OTC(a) | 21,619 | (15,082 | ) | 6,537 | 26,850 | (20,729 | ) | 6,121 | |||||||||||||||||||||
OTC–cleared | — | — | — | — | — | — | |||||||||||||||||||||||
Exchange traded(b) | 12,528 | (11,212 | ) | 1,316 | 15,108 | (12,407 | ) | 2,701 | |||||||||||||||||||||
Total commodity contracts | 34,147 | (26,294 | ) | 7,853 | 41,958 | (33,136 | ) | 8,822 | |||||||||||||||||||||
Derivative receivables with appropriate legal opinion | $ | 1,164,733 | $ | (1,114,708 | ) | (c) | $ | 50,025 | $ | 1,607,344 | $ | (1,561,362 | ) | (c) | $ | 45,982 | |||||||||||||
Derivative receivables where an appropriate legal opinion has not been either sought or obtained | 15,734 | 15,734 | 29,001 | 29,001 | |||||||||||||||||||||||||
Total derivative receivables recognized on the Consolidated Balance Sheets | $ | 1,180,467 | $ | 65,759 | $ | 1,636,345 | $ | 74,983 | |||||||||||||||||||||
(a) | The prior period amounts have been revised. This revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | ||||||||||||||||||||||||||||
(b) | Exchange traded derivative amounts that relate to futures contracts are settled daily. | ||||||||||||||||||||||||||||
(c) | Included netted cash collateral payables of $63.9 billion and $79.2 billion at December 31, 2013, and December 31, 2012, respectively. | ||||||||||||||||||||||||||||
Offsetting liabilities | ' | ||||||||||||||||||||||||||||
The following table presents, as of December 31, 2013 and 2012, the gross and net derivative payables by contract and settlement type. Derivative payables have been netted on the Consolidated Balance Sheets against derivative receivables to the same counterparty with respect to derivative contracts for which the Firm has obtained an appropriate legal opinion with respect to the master netting agreement. Where such a legal opinion has not been either sought or obtained, the payables are not eligible under U.S. GAAP for netting against related derivative receivables on the Consolidated Balance Sheets, and are shown separately in the table below. | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
December 31, (in millions) | Gross derivative payables | Amounts netted on the Consolidated balance sheets | Net derivative payables | Gross derivative payables | Amounts netted on the Consolidated balance sheets | Net derivative payables | |||||||||||||||||||||||
U.S. GAAP nettable derivative payables | |||||||||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||||||
OTC(a) | $ | 467,850 | $ | (458,081 | ) | $ | 9,769 | $ | 774,824 | $ | (754,105 | ) | $ | 20,719 | |||||||||||||||
OTC–cleared | 354,698 | (353,990 | ) | 708 | 482,018 | (481,763 | ) | 255 | |||||||||||||||||||||
Exchange traded(b) | — | — | — | — | — | — | |||||||||||||||||||||||
Total interest rate contracts | 822,548 | (812,071 | ) | 10,477 | 1,256,842 | (1,235,868 | ) | 20,974 | |||||||||||||||||||||
Credit contracts: | |||||||||||||||||||||||||||||
OTC | 65,223 | (63,671 | ) | 1,552 | 89,170 | (88,151 | ) | 1,019 | |||||||||||||||||||||
OTC–cleared | 16,506 | (16,450 | ) | 56 | 9,372 | (9,372 | ) | — | |||||||||||||||||||||
Total credit contracts | 81,729 | (80,121 | ) | 1,608 | 98,542 | (97,523 | ) | 1,019 | |||||||||||||||||||||
Foreign exchange contracts: | |||||||||||||||||||||||||||||
OTC(a) | 155,110 | (144,119 | ) | 10,991 | 153,181 | (141,928 | ) | 11,253 | |||||||||||||||||||||
OTC–cleared | 61 | (59 | ) | 2 | 29 | (23 | ) | 6 | |||||||||||||||||||||
Exchange traded(b) | — | — | — | — | — | — | |||||||||||||||||||||||
Total foreign exchange contracts | 155,171 | (144,178 | ) | 10,993 | 153,210 | (141,951 | ) | 11,259 | |||||||||||||||||||||
Equity contracts: | |||||||||||||||||||||||||||||
OTC(a) | 33,295 | (28,520 | ) | 4,775 | 28,321 | (23,949 | ) | 4,372 | |||||||||||||||||||||
OTC–cleared | — | — | — | — | — | — | |||||||||||||||||||||||
Exchange traded(b) | 17,349 | (11,415 | ) | 5,934 | 12,000 | (8,767 | ) | 3,233 | |||||||||||||||||||||
Total equity contracts | 50,644 | (39,935 | ) | 10,709 | 40,321 | (32,716 | ) | 7,605 | |||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||||||
OTC(a) | 21,993 | (15,318 | ) | 6,675 | 28,744 | (22,392 | ) | 6,352 | |||||||||||||||||||||
OTC–cleared | — | — | — | — | — | — | |||||||||||||||||||||||
Exchange traded(b) | 12,367 | (11,212 | ) | 1,155 | 14,488 | (12,407 | ) | 2,081 | |||||||||||||||||||||
Total commodity contracts | 34,360 | (26,530 | ) | 7,830 | 43,232 | (34,799 | ) | 8,433 | |||||||||||||||||||||
Derivative payables with appropriate legal opinions | $ | 1,144,452 | $ | (1,102,835 | ) | (c) | $ | 41,617 | $ | 1,592,147 | $ | (1,542,857 | ) | (c) | $ | 49,290 | |||||||||||||
Derivative payables where an appropriate legal opinion has not been either sought or obtained | 15,697 | 15,697 | 21,366 | 21,366 | |||||||||||||||||||||||||
Total derivative payables recognized on the Consolidated Balance Sheets | $ | 1,160,149 | $ | 57,314 | $ | 1,613,513 | $ | 70,656 | |||||||||||||||||||||
(a) | The prior period amounts have been revised. This revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | ||||||||||||||||||||||||||||
(b) | Exchange traded derivative balances that relate to futures contracts are settled daily. | ||||||||||||||||||||||||||||
(c) | Included netted cash collateral receivables of $52.1 billion and $60.7 billion related to OTC and OTC-cleared derivatives at December 31, 2013, and December 31, 2012, respectively. | ||||||||||||||||||||||||||||
Current credit risk of derivative receivables and liquidity risk of derivative payables | ' | ||||||||||||||||||||||||||||
The following tables present information regarding certain financial instrument collateral received and transferred as of December 31, 2013 and 2012, that is not eligible for net presentation under U.S. GAAP. The collateral included in these tables relates only to the derivative instruments for which appropriate legal opinions have been obtained; excluded are (i) additional collateral that exceeds the fair value exposure and (ii) all collateral related to derivative instruments where an appropriate legal opinion has not been either sought or obtained. | |||||||||||||||||||||||||||||
Derivative receivable collateral | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
December 31, (in millions) | Net derivative receivables | Collateral not nettable on the Consolidated balance sheets | Net exposure | Net derivative receivables | Collateral not nettable on the Consolidated balance sheets | Net exposure | |||||||||||||||||||||||
Derivative receivables with appropriate legal opinions | $ | 50,025 | $ | (12,414 | ) | (a) | $ | 37,611 | $ | 45,982 | $ | (11,350 | ) | (a) | $ | 34,632 | |||||||||||||
Derivative payable collateral(b) | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
December 31, (in millions) | Net derivative payables | Collateral not nettable on the Consolidated balance sheets | Net amount(c) | Net derivative payables | Collateral not nettable on the Consolidated balance sheets | Net amount(c) | |||||||||||||||||||||||
Derivative payables with appropriate legal opinions | $ | 41,617 | $ | (6,873 | ) | (a) | $ | 34,744 | $ | 49,290 | $ | (20,109 | ) | (a) | $ | 29,181 | |||||||||||||
(a) | Represents liquid security collateral as well as cash collateral held at third party custodians. For some counterparties, the collateral amounts of financial instruments may exceed the derivative receivables and derivative payables balances. Where this is the case, the total amount reported is limited to the net derivative receivables and net derivative payables balances with that counterparty. | ||||||||||||||||||||||||||||
(b) | Derivative payable collateral relates only to OTC and OTC-cleared derivative instruments. Amounts exclude collateral transferred related to exchange-traded derivative instruments. | ||||||||||||||||||||||||||||
(c) | Net amount represents exposure of counterparties to the Firm. | ||||||||||||||||||||||||||||
The following table shows the aggregate fair value of net derivative payables related to OTC and OTC-cleared derivatives that contain contingent collateral or termination features that may be triggered upon a ratings downgrade, and the associated collateral the Firm has posted in the normal course of business, at December 31, 2013 and 2012. | |||||||||||||||||||||||||||||
OTC and OTC-cleared derivative payables containing downgrade triggers | |||||||||||||||||||||||||||||
December 31, (in millions) | 2013 | 2012 | |||||||||||||||||||||||||||
Aggregate fair value of net derivative payables | $ | 24,631 | $ | 40,844 | |||||||||||||||||||||||||
Collateral posted | 20,346 | 34,414 | |||||||||||||||||||||||||||
The following table shows the impact of a single-notch and two-notch downgrade of the long-term issuer ratings of JPMorgan Chase & Co. and its subsidiaries, predominantly JPMorgan Chase Bank, National Association (“JPMorgan Chase Bank, N.A.”), at December 31, 2013 and 2012, related to OTC and OTC-cleared derivative contracts with contingent collateral or termination features that may be triggered upon a ratings downgrade. Derivatives contracts generally require additional collateral to be posted or terminations to be triggered when the predefined threshold rating is breached. A downgrade by a single rating agency that does not result in a rating lower than a preexisting corresponding rating provided by another major rating agency will generally not result in additional collateral, except in certain instances in which additional initial margin may be required upon a ratings downgrade, or termination payment requirements. The liquidity impact in the table is calculated based upon a downgrade below the lowest current rating of the rating agencies referred to in the derivative contract. | |||||||||||||||||||||||||||||
Liquidity impact of downgrade triggers on OTC and | |||||||||||||||||||||||||||||
OTC-cleared derivatives | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
December 31, (in millions) | Single-notch downgrade | Two-notch downgrade | Single-notch downgrade | Two-notch downgrade | |||||||||||||||||||||||||
Amount of additional collateral to be posted upon downgrade(a) | $ | 952 | $ | 3,244 | $ | 1,234 | $ | 4,090 | |||||||||||||||||||||
Amount required to settle contracts with termination triggers upon downgrade(b) | 540 | 876 | 857 | 1,270 | |||||||||||||||||||||||||
(a) | Includes the additional collateral to be posted for initial margin. Prior period amounts have been revised to conform with the current presentation. | ||||||||||||||||||||||||||||
(b) | Amounts represent fair value of derivative payables, and do not reflect collateral posted. | ||||||||||||||||||||||||||||
Impact of derivatives on the Consolidated Balance Sheets | ' | ||||||||||||||||||||||||||||
The following table summarizes information on derivative receivables and payables (before and after netting adjustments) that are reflected on the Firm’s Consolidated Balance Sheets as of December 31, 2013 and 2012, by accounting designation (e.g., whether the derivatives were designated in qualifying hedge accounting relationships or not) and contract type. | |||||||||||||||||||||||||||||
Free-standing derivative receivables and payables(a) | |||||||||||||||||||||||||||||
Gross derivative receivables | Gross derivative payables | ||||||||||||||||||||||||||||
31-Dec-13 | Not designated as hedges | Designated as hedges | Total derivative receivables | Net derivative receivables(c) | Not designated as hedges | Designated as hedges | Total derivative payables | Net derivative payables(c) | |||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Trading assets and liabilities | |||||||||||||||||||||||||||||
Interest rate | $ | 851,189 | $ | 3,490 | $ | 854,679 | $ | 25,782 | $ | 820,811 | $ | 4,543 | $ | 825,354 | $ | 13,283 | |||||||||||||
Credit | 83,520 | — | 83,520 | 1,516 | 82,402 | — | 82,402 | 2,281 | |||||||||||||||||||||
Foreign exchange | 152,240 | 1,359 | 153,599 | 16,790 | 158,728 | 1,397 | 160,125 | 15,947 | |||||||||||||||||||||
Equity | 52,931 | — | 52,931 | 12,227 | 54,654 | — | 54,654 | 14,719 | |||||||||||||||||||||
Commodity | 34,344 | 1,394 | 35,738 | 9,444 | 37,605 | 9 | 37,614 | 11,084 | |||||||||||||||||||||
Total fair value of trading assets and liabilities | $ | 1,174,224 | $ | 6,243 | $ | 1,180,467 | $ | 65,759 | $ | 1,154,200 | $ | 5,949 | $ | 1,160,149 | $ | 57,314 | |||||||||||||
Gross derivative receivables | Gross derivative payables | ||||||||||||||||||||||||||||
31-Dec-12 | Not designated as hedges | Designated as hedges | Total derivative receivables | Net derivative receivables(c) | Not designated as hedges | Designated as hedges | Total derivative payables | Net derivative payables(c) | |||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Trading assets and liabilities | |||||||||||||||||||||||||||||
Interest rate(b) | $ | 1,296,268 | $ | 6,064 | $ | 1,302,332 | $ | 39,205 | $ | 1,257,654 | $ | 3,120 | $ | 1,260,774 | $ | 24,906 | |||||||||||||
Credit | 100,310 | — | 100,310 | 1,735 | 100,027 | — | 100,027 | 2,504 | |||||||||||||||||||||
Foreign exchange(b) | 145,676 | 1,577 | 147,253 | 14,142 | 158,419 | 2,133 | 160,552 | 18,601 | |||||||||||||||||||||
Equity(b) | 42,679 | — | 42,679 | 9,266 | 44,535 | — | 44,535 | 11,819 | |||||||||||||||||||||
Commodity(b) | 43,185 | 586 | 43,771 | 10,635 | 46,981 | 644 | 47,625 | 12,826 | |||||||||||||||||||||
Total fair value of trading assets and liabilities | $ | 1,628,118 | $ | 8,227 | $ | 1,636,345 | $ | 74,983 | $ | 1,607,616 | $ | 5,897 | $ | 1,613,513 | $ | 70,656 | |||||||||||||
(a) | Balances exclude structured notes for which the fair value option has been elected. See Note 4 on pages 215–218 of this Annual Report for further information. | ||||||||||||||||||||||||||||
(b) | The prior period amounts have been revised. This revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | ||||||||||||||||||||||||||||
(c) | As permitted under U.S. GAAP, the Firm has elected to net derivative receivables and derivative payables and the related cash collateral receivables and payables when a legally enforceable master netting agreement exists. | ||||||||||||||||||||||||||||
Fair value hedge gains and losses | ' | ||||||||||||||||||||||||||||
The following tables present derivative instruments, by contract type, used in fair value hedge accounting relationships, as well as pretax gains/(losses) recorded on such derivatives and the related hedged items for the years ended December 31, 2013, 2012 and 2011, respectively. The Firm includes gains/(losses) on the hedging derivative and the related hedged item in the same line item in the Consolidated Statements of Income. | |||||||||||||||||||||||||||||
Gains/(losses) recorded in income | Income statement impact due to: | ||||||||||||||||||||||||||||
Year ended December 31, 2013 (in millions) | Derivatives | Hedged items | Total income statement impact | Hedge ineffectiveness(e) | Excluded components(f) | ||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (3,469 | ) | $ | 4,851 | $ | 1,382 | $ | (132 | ) | $ | 1,514 | |||||||||||||||||
Foreign exchange(b) | (1,096 | ) | (d) | 864 | (232 | ) | — | (232 | ) | ||||||||||||||||||||
Commodity(c) | 485 | (1,304 | ) | (819 | ) | 38 | (857 | ) | |||||||||||||||||||||
Total | $ | (4,080 | ) | $ | 4,411 | $ | 331 | $ | (94 | ) | $ | 425 | |||||||||||||||||
Gains/(losses) recorded in income | Income statement impact due to: | ||||||||||||||||||||||||||||
Year ended December 31, 2012 (in millions) | Derivatives | Hedged items | Total income statement impact | Hedge ineffectiveness(e) | Excluded components(f) | ||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (1,238 | ) | $ | 1,879 | $ | 641 | $ | (28 | ) | $ | 669 | |||||||||||||||||
Foreign exchange(b) | (3,027 | ) | (d) | 2,925 | (102 | ) | — | (102 | ) | ||||||||||||||||||||
Commodity(c) | (2,530 | ) | 1,131 | (1,399 | ) | 107 | (1,506 | ) | |||||||||||||||||||||
Total | $ | (6,795 | ) | $ | 5,935 | $ | (860 | ) | $ | 79 | $ | (939 | ) | ||||||||||||||||
Gains/(losses) recorded in income | Income statement impact due to: | ||||||||||||||||||||||||||||
Year ended December 31, 2011 (in millions) | Derivatives | Hedged items | Total income statement impact | Hedge ineffectiveness(e) | Excluded components(f) | ||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | 532 | $ | 33 | $ | 565 | $ | 104 | $ | 461 | |||||||||||||||||||
Foreign exchange(b) | 5,684 | (d) | (3,761 | ) | 1,923 | — | 1,923 | ||||||||||||||||||||||
Commodity(c) | 1,784 | (2,880 | ) | (1,096 | ) | (10 | ) | (1,086 | ) | ||||||||||||||||||||
Total | $ | 8,000 | $ | (6,608 | ) | $ | 1,392 | $ | 94 | $ | 1,298 | ||||||||||||||||||
(a) | Primarily consists of hedges of the benchmark (e.g., London Interbank Offered Rate (“LIBOR”)) interest rate risk of fixed-rate long-term debt and AFS securities. Gains and losses were recorded in net interest income. The current presentation excludes accrued interest. | ||||||||||||||||||||||||||||
(b) | Primarily consists of hedges of the foreign currency risk of long-term debt and AFS securities for changes in spot foreign currency rates. Gains and losses related to the derivatives and the hedged items, due to changes in foreign currency rates, were recorded in principal transactions revenue and net interest income. | ||||||||||||||||||||||||||||
(c) | Consists of overall fair value hedges of physical commodities inventories that are generally carried at the lower of cost or market (market approximates fair value). Gains and losses were recorded in principal transactions revenue. | ||||||||||||||||||||||||||||
(d) | Included $(556) million, $(3.1) billion and $4.9 billion for the years ended December 31, 2013, 2012 and 2011, respectively, of revenue related to certain foreign exchange trading derivatives designated as fair value hedging instruments. | ||||||||||||||||||||||||||||
(e) | Hedge ineffectiveness is the amount by which the gain or loss on the designated derivative instrument does not exactly offset the gain or loss on the hedged item attributable to the hedged risk. | ||||||||||||||||||||||||||||
(f) | The assessment of hedge effectiveness excludes certain components of the changes in fair values of the derivatives and hedged items such as forward points on foreign exchange forward contracts and time values. | ||||||||||||||||||||||||||||
Cash flow hedge gains and losses | ' | ||||||||||||||||||||||||||||
The following tables present derivative instruments, by contract type, used in cash flow hedge accounting relationships, and the pretax gains/(losses) recorded on such derivatives, for the years ended December 31, 2013, 2012 and 2011, respectively. The Firm includes the gain/(loss) on the hedging derivative and the change in cash flows on the hedged item in the same line item in the Consolidated Statements of Income. | |||||||||||||||||||||||||||||
Gains/(losses) recorded in income and other comprehensive income/(loss)(c) | |||||||||||||||||||||||||||||
Year ended December 31, 2013 | Derivatives – effective portion reclassified from AOCI to income | Hedge ineffectiveness recorded directly in income(d) | Total income statement impact | Derivatives – effective portion recorded in OCI | Total change | ||||||||||||||||||||||||
(in millions) | in OCI | ||||||||||||||||||||||||||||
for period | |||||||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (108 | ) | $ | — | $ | (108 | ) | $ | (565 | ) | $ | (457 | ) | |||||||||||||||
Foreign exchange(b) | 7 | — | 7 | 40 | 33 | ||||||||||||||||||||||||
Total | $ | (101 | ) | $ | — | $ | (101 | ) | $ | (525 | ) | $ | (424 | ) | |||||||||||||||
Gains/(losses) recorded in income and other comprehensive income/(loss)(c) | |||||||||||||||||||||||||||||
Year ended December 31, 2012 | Derivatives – effective portion reclassified from AOCI to income | Hedge ineffectiveness recorded directly in income(d) | Total income statement impact | Derivatives – effective portion recorded in OCI | Total change | ||||||||||||||||||||||||
(in millions) | in OCI | ||||||||||||||||||||||||||||
for period | |||||||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (3 | ) | $ | 5 | $ | 2 | $ | 13 | $ | 16 | ||||||||||||||||||
Foreign exchange(b) | 31 | — | 31 | 128 | 97 | ||||||||||||||||||||||||
Total | $ | 28 | $ | 5 | $ | 33 | $ | 141 | $ | 113 | |||||||||||||||||||
Gains/(losses) recorded in income and other comprehensive income/(loss)(c) | |||||||||||||||||||||||||||||
Year ended December 31, 2011 | Derivatives – effective portion reclassified from AOCI to income | Hedge ineffectiveness recorded directly in income(d) | Total income statement impact | Derivatives – effective portion recorded in OCI | Total change | ||||||||||||||||||||||||
(in millions) | in OCI | ||||||||||||||||||||||||||||
for period | |||||||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | 310 | $ | 19 | $ | 329 | $ | 107 | $ | (203 | ) | ||||||||||||||||||
Foreign exchange(b) | (9 | ) | — | (9 | ) | (57 | ) | (48 | ) | ||||||||||||||||||||
Total | $ | 301 | $ | 19 | $ | 320 | $ | 50 | $ | (251 | ) | ||||||||||||||||||
(a) | Primarily consists of benchmark interest rate hedges of LIBOR-indexed floating-rate assets and floating-rate liabilities. Gains and losses were recorded in net interest income. | ||||||||||||||||||||||||||||
(b) | Primarily consists of hedges of the foreign currency risk of non-U.S. dollar-denominated revenue and expense. The income statement classification of gains and losses follows the hedged item – primarily noninterest revenue and compensation expense. | ||||||||||||||||||||||||||||
(c) | The Firm did not experience any forecasted transactions that failed to occur for the years ended December 31, 2013, 2012 or 2011. | ||||||||||||||||||||||||||||
(d) | Hedge ineffectiveness is the amount by which the cumulative gain or loss on the designated derivative instrument exceeds the present value of the cumulative expected change in cash flows on the hedged item attributable to the hedged risk. | ||||||||||||||||||||||||||||
Net investment hedge gains and losses | ' | ||||||||||||||||||||||||||||
The following tables present hedging instruments, by contract type, that were used in net investment hedge accounting relationships, and the pretax gains/(losses) recorded on such instruments for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||||||||||||||||||
Gains/(losses) recorded in income and other comprehensive income/(loss) | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||
Year ended December 31, | Excluded components recorded directly in income(a) | Effective portion recorded in OCI | Excluded components recorded directly in income(a) | Effective portion recorded in OCI | Excluded components recorded directly in income(a) | Effective portion recorded in OCI | |||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Foreign exchange derivatives | $ | (383 | ) | $ | 773 | $ | (306 | ) | $ | (82 | ) | $ | (251 | ) | $ | 225 | |||||||||||||
Foreign currency denominated debt | — | — | — | — | — | 1 | |||||||||||||||||||||||
Total | $ | (383 | ) | $ | 773 | $ | (306 | ) | $ | (82 | ) | $ | (251 | ) | $ | 226 | |||||||||||||
(a) | Certain components of hedging derivatives are permitted to be excluded from the assessment of hedge effectiveness, such as forward points on foreign exchange forward contracts. Amounts related to excluded components are recorded in current-period income. The Firm measures the ineffectiveness of net investment hedge accounting relationships based on changes in spot foreign currency rates, and therefore there was no ineffectiveness for net investment hedge accounting relationships during 2013, 2012 and 2011. | ||||||||||||||||||||||||||||
Risk management derivatives gains and losses (not designated as hedging instruments) | ' | ||||||||||||||||||||||||||||
The following table presents pretax gains/(losses) recorded on a limited number of derivatives, not designated in hedge accounting relationships, that are used to manage risks associated with certain specified assets and liabilities, including certain risks arising from the mortgage pipeline, warehouse loans, MSRs, wholesale lending exposures, AFS securities, foreign currency-denominated liabilities, and commodities-related contracts and investments. | |||||||||||||||||||||||||||||
Derivatives gains/(losses) | |||||||||||||||||||||||||||||
recorded in income | |||||||||||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | 617 | $ | 5,353 | $ | 8,084 | |||||||||||||||||||||||
Credit(b) | (142 | ) | (175 | ) | (52 | ) | |||||||||||||||||||||||
Foreign exchange(c) | 1 | 47 | (157 | ) | |||||||||||||||||||||||||
Commodity(d) | 178 | 94 | 41 | ||||||||||||||||||||||||||
Total | $ | 654 | $ | 5,319 | $ | 7,916 | |||||||||||||||||||||||
(a) | Primarily relates to interest rate derivatives used to hedge the interest rate risks associated with the mortgage pipeline, warehouse loans and MSRs. Gains and losses were recorded predominantly in mortgage fees and related income. | ||||||||||||||||||||||||||||
(b) | Relates to credit derivatives used to mitigate credit risk associated with lending exposures in the Firm’s wholesale businesses, and single-name credit derivatives used to mitigate credit risk arising from certain AFS securities. These derivatives do not include the synthetic credit portfolio or credit derivatives used to mitigate counterparty credit risk arising from derivative receivables, both of which are included in gains and losses on derivatives related to market-making activities and other derivatives. Gains and losses were recorded in principal transactions revenue. | ||||||||||||||||||||||||||||
(c) | Primarily relates to hedges of the foreign exchange risk of specified foreign currency-denominated liabilities. Gains and losses were recorded in principal transactions revenue and net interest income. | ||||||||||||||||||||||||||||
(d) | Primarily relates to commodity derivatives used to mitigate energy price risk associated with energy-related contracts and investments. Gains and losses were recorded in principal transactions revenue. | ||||||||||||||||||||||||||||
Credit Derivatives Table | ' | ||||||||||||||||||||||||||||
Maximum payout/Notional amount | |||||||||||||||||||||||||||||
Protection sold | Protection purchased with identical underlyings(b) | Net protection (sold)/purchased(c) | Other protection purchased(d) | ||||||||||||||||||||||||||
December 31, 2013 (in millions) | |||||||||||||||||||||||||||||
Credit derivatives | |||||||||||||||||||||||||||||
Credit default swaps | $ | (2,601,581 | ) | $ | 2,610,198 | $ | 8,617 | $ | 8,722 | ||||||||||||||||||||
Other credit derivatives(a) | (95,094 | ) | 45,921 | (49,173 | ) | 24,192 | |||||||||||||||||||||||
Total credit derivatives | (2,696,675 | ) | 2,656,119 | (40,556 | ) | 32,914 | |||||||||||||||||||||||
Credit-related notes | (130 | ) | — | (130 | ) | 2,720 | |||||||||||||||||||||||
Total | $ | (2,696,805 | ) | $ | 2,656,119 | $ | (40,686 | ) | $ | 35,634 | |||||||||||||||||||
Maximum payout/Notional amount | |||||||||||||||||||||||||||||
Protection sold | Protection purchased with identical underlyings(b) | Net protection (sold)/purchased(c) | Other protection purchased(d) | ||||||||||||||||||||||||||
December 31, 2012 (in millions) | |||||||||||||||||||||||||||||
Credit derivatives | |||||||||||||||||||||||||||||
Credit default swaps | $ | (2,954,705 | ) | $ | 2,879,105 | $ | (75,600 | ) | $ | 42,460 | |||||||||||||||||||
Other credit derivatives(a) | (66,244 | ) | 5,649 | (60,595 | ) | 33,174 | |||||||||||||||||||||||
Total credit derivatives | (3,020,949 | ) | 2,884,754 | (136,195 | ) | 75,634 | |||||||||||||||||||||||
Credit-related notes | (233 | ) | — | (233 | ) | 3,255 | |||||||||||||||||||||||
Total | $ | (3,021,182 | ) | $ | 2,884,754 | $ | (136,428 | ) | $ | 78,889 | |||||||||||||||||||
(a) | Other credit derivatives predominantly consists of put options on fixed income portfolios. | ||||||||||||||||||||||||||||
(b) | Represents the total notional amount of protection purchased where the underlying reference instrument is identical to the reference instrument on protection sold; the notional amount of protection purchased for each individual identical underlying reference instrument may be greater or lower than the notional amount of protection sold. | ||||||||||||||||||||||||||||
(c) | Does not take into account the fair value of the reference obligation at the time of settlement, which would generally reduce the amount the seller of protection pays to the buyer of protection in determining settlement value. | ||||||||||||||||||||||||||||
(d) | Represents protection purchased by the Firm on referenced instruments (single-name, portfolio or index) where the Firm has not sold any protection on the identical reference instrument. | ||||||||||||||||||||||||||||
Protection sold - credit derivatives and credit-related notes ratings/maturity profile | ' | ||||||||||||||||||||||||||||
The following tables summarize the notional and fair value amounts of credit derivatives and credit-related notes as of December 31, 2013 and 2012, where JPMorgan Chase is the seller of protection. The maturity profile is based on the remaining contractual maturity of the credit derivative contracts. The ratings profile is based on the rating of the reference entity on which the credit derivative contract is based. The ratings and maturity profile of credit derivatives and credit-related notes where JPMorgan Chase is the purchaser of protection are comparable to the profile reflected below. | |||||||||||||||||||||||||||||
Protection sold – credit derivatives and credit-related notes ratings(a)/maturity profile | |||||||||||||||||||||||||||||
December 31, 2013 (in millions) | <1 year | 1–5 years | >5 years | Total | Fair value of receivables(b) | Fair value of payables(b) | Net fair value | ||||||||||||||||||||||
notional amount | |||||||||||||||||||||||||||||
Risk rating of reference entity | |||||||||||||||||||||||||||||
Investment-grade | $ | (365,660 | ) | $ | (1,486,394 | ) | $ | (130,597 | ) | $ | (1,982,651 | ) | $ | 31,727 | $ | (5,629 | ) | $ | 26,098 | ||||||||||
Noninvestment-grade | (140,540 | ) | (544,671 | ) | (28,943 | ) | (714,154 | ) | 27,426 | (16,674 | ) | 10,752 | |||||||||||||||||
Total | $ | (506,200 | ) | $ | (2,031,065 | ) | $ | (159,540 | ) | $ | (2,696,805 | ) | $ | 59,153 | $ | (22,303 | ) | $ | 36,850 | ||||||||||
December 31, 2012 (in millions) | <1 year | 1–5 years | >5 years | Total | Fair value of receivables(b) | Fair value of payables(b) | Net fair value | ||||||||||||||||||||||
notional amount | |||||||||||||||||||||||||||||
Risk rating of reference entity | |||||||||||||||||||||||||||||
Investment-grade | $ | (409,748 | ) | $ | (1,383,644 | ) | $ | (224,001 | ) | $ | (2,017,393 | ) | $ | 16,690 | $ | (22,393 | ) | $ | (5,703 | ) | |||||||||
Noninvestment-grade | (214,949 | ) | (722,115 | ) | (66,725 | ) | (1,003,789 | ) | 22,355 | (36,815 | ) | (14,460 | ) | ||||||||||||||||
Total | $ | (624,697 | ) | $ | (2,105,759 | ) | $ | (290,726 | ) | $ | (3,021,182 | ) | $ | 39,045 | $ | (59,208 | ) | $ | (20,163 | ) | |||||||||
(a) | The ratings scale is based on the Firm’s internal ratings, which generally correspond to ratings as defined by S&P and Moody’s. | ||||||||||||||||||||||||||||
(b) | Amounts are shown on a gross basis, before the benefit of legally enforceable master netting agreements and cash collateral received by the Firm. |
Noninterest_Revenue_Tables
Noninterest Revenue (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Noninterest Income [Abstract] | ' | |||||||||||
Components of investment banking fees | ' | |||||||||||
The following table presents the components of investment banking fees. | ||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||
(in millions) | ||||||||||||
Underwriting | ||||||||||||
Equity | $ | 1,499 | $ | 1,026 | $ | 1,181 | ||||||
Debt | 3,537 | 3,290 | 2,934 | |||||||||
Total underwriting | 5,036 | 4,316 | 4,115 | |||||||||
Advisory | 1,318 | 1,492 | 1,796 | |||||||||
Total investment banking fees | $ | 6,354 | $ | 5,808 | $ | 5,911 | ||||||
Principal transactions revenue | ' | |||||||||||
The following table presents principal transactions revenue by major underlying type of risk exposures. This table does not include other types of revenue, such as net interest income on trading assets, which are an integral part of the overall performance of the Firm’s client-driven market-making activities. | ||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||
(in millions) | ||||||||||||
Trading revenue by risk exposure | ||||||||||||
Interest rate(a) | $ | 776 | $ | 3,922 | $ | (873 | ) | |||||
Credit(b) | 2,424 | (5,460 | ) | 3,393 | ||||||||
Foreign exchange | 1,540 | 1,436 | 1,154 | |||||||||
Equity | 2,526 | 2,504 | 2,401 | |||||||||
Commodity(c) | 2,073 | 2,363 | 2,823 | |||||||||
Total trading revenue(d)(e) | 9,339 | 4,765 | 8,898 | |||||||||
Private equity gains(f) | 802 | 771 | 1,107 | |||||||||
Principal transactions | $ | 10,141 | $ | 5,536 | $ | 10,005 | ||||||
(a) | Includes a pretax gain of $665 million for the year ended December 31, 2012, reflecting the recovery on a Bear Stearns-related subordinated loan. | |||||||||||
(b) | Includes $5.8 billion of losses incurred by CIO from the synthetic credit portfolio for the six months ended June 30, 2012, and $449 million of losses incurred by CIO from the retained index credit derivative positions for the three months ended September 30, 2012; and losses incurred by CIB from the synthetic credit portfolio. | |||||||||||
(c) | Includes realized gains and losses and unrealized losses on physical commodities inventories that are generally carried at the lower of cost or market (market approximates fair value), subject to any applicable fair value hedge accounting adjustments, and gains and losses on commodity derivatives and other financial instruments that are carried at fair value through income. Commodity derivatives are frequently used to manage the Firm’s risk exposure to its physical commodities inventories. Gains/(losses) related to commodity fair value hedges were $(819) million, $(1.4) billion and $(1.1) billion for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||
(d) | Principal transactions revenue included DVA related to structured notes and derivative liabilities measured at fair value in CIB. DVA gains/(losses) were $(452) million, $(930) million, and $1.4 billion for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||
(e) | During the fourth quarter of 2013, the Firm implemented a funding valuation adjustment (“FVA”) framework in order to incorporate the impact of funding into its valuation estimates for over-the-counter (“OTC”) derivatives and structured notes. As a result the Firm recorded a $1.5 billion loss in principal transactions revenue in the fourth quarter of 2013, reported in the CIB. This reflects an industry migration towards incorporating the cost of unsecured funding in the valuation of such instruments. | |||||||||||
(f) | Includes revenue on private equity investments held in the Private Equity business within Corporate/Private Equity, as well as those held in other business segments. | |||||||||||
Components of asset management, administration and commissions | ' | |||||||||||
The following table presents components of asset management, administration and commissions. | ||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||
(in millions) | ||||||||||||
Asset management | ||||||||||||
Investment management fees(a) | $ | 8,044 | $ | 6,744 | $ | 6,449 | ||||||
All other asset management fees(b) | 505 | 357 | 241 | |||||||||
Total asset management fees | 8,549 | 7,101 | 6,690 | |||||||||
Total administration fees(c) | 2,101 | 2,135 | 2,171 | |||||||||
Commissions and other fees | ||||||||||||
Brokerage commissions | 2,321 | 2,331 | 2,753 | |||||||||
All other commissions and fees | 2,135 | 2,301 | 2,480 | |||||||||
Total commissions and fees | 4,456 | 4,632 | 5,233 | |||||||||
Total asset management, administration and commissions | $ | 15,106 | $ | 13,868 | $ | 14,094 | ||||||
(a) | Represents fees earned from managing assets on behalf of Firm clients, including investors in Firm-sponsored funds and owners of separately managed investment accounts. | |||||||||||
(b) | Represents fees for services that are ancillary to investment management services, such as commissions earned on the sales or distribution of mutual funds to clients. | |||||||||||
(c) | Predominantly, includes fees for custody, securities lending, funds services and securities clearance. |
Interest_Income_and_Interest_E2
Interest Income and Interest Expense (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Interest Income (Expense), Net [Abstract] | ' | |||||||||||
Details of interest income and interest expense | ' | |||||||||||
Details of interest income and interest expense were as follows. | ||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||
(in millions) | ||||||||||||
Interest income | ||||||||||||
Loans | $ | 33,489 | $ | 35,832 | $ | 37,098 | ||||||
Securities | 7,812 | 7,939 | 9,215 | |||||||||
Trading assets | 8,426 | 9,039 | 11,142 | |||||||||
Federal funds sold and securities purchased under resale agreements | 1,940 | 2,442 | 2,523 | |||||||||
Securities borrowed | (127 | ) | (c) | (3 | ) | (c) | 110 | |||||
Deposits with banks | 918 | 555 | 599 | |||||||||
Other assets(a) | 538 | 259 | 606 | |||||||||
Total interest income | 52,996 | 56,063 | 61,293 | |||||||||
Interest expense | ||||||||||||
Interest-bearing deposits | 2,067 | 2,655 | 3,855 | |||||||||
Short-term and other liabilities(b) | 2,125 | 1,788 | 2,873 | |||||||||
Long-term debt | 5,007 | 6,062 | 6,109 | |||||||||
Beneficial interests issued by consolidated VIEs | 478 | 648 | 767 | |||||||||
Total interest expense | 9,677 | 11,153 | 13,604 | |||||||||
Net interest income | 43,319 | 44,910 | 47,689 | |||||||||
Provision for credit losses | 225 | 3,385 | 7,574 | |||||||||
Net interest income after provision for credit losses | $ | 43,094 | $ | 41,525 | $ | 40,115 | ||||||
(a) | Largely margin loans. | |||||||||||
(b) | Includes brokerage customer payables. | |||||||||||
(c) | Negative interest income for the years ended December 31, 2013 and 2012, is a result of increased client-driven demand for certain securities combined with the impact of low interest rates; the offset of this matched book activity is reflected as lower net interest expense reported within short-term and other liabilities. |
Pension_and_Other_Postretireme2
Pension and Other Postretirement Employee Benefit Plans (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||
General Discussion of Pension and Other Postretirement Benefits [Abstract] | ' | ||||||||||||||||||||||||||||||
Changes in benefit obligations and plan assets and funded status amounts | ' | ||||||||||||||||||||||||||||||
The following table presents the changes in benefit obligations, plan assets and funded status amounts reported on the Consolidated Balance Sheets for the Firm’s U.S. and non-U.S. defined benefit pension and OPEB plans. | |||||||||||||||||||||||||||||||
Defined benefit pension plans | |||||||||||||||||||||||||||||||
As of or for the year ended December 31, | U.S. | Non-U.S. | OPEB plans(d) | ||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Change in benefit obligation | |||||||||||||||||||||||||||||||
Benefit obligation, beginning of year | $ | (11,478 | ) | $ | (9,043 | ) | $ | (3,243 | ) | $ | (2,829 | ) | $ | (990 | ) | $ | (999 | ) | |||||||||||||
Benefits earned during the year | (314 | ) | (272 | ) | (34 | ) | (41 | ) | (1 | ) | (1 | ) | |||||||||||||||||||
Interest cost on benefit obligations | (447 | ) | (466 | ) | (125 | ) | (126 | ) | (35 | ) | (44 | ) | |||||||||||||||||||
Plan amendments | — | — | — | 6 | — | — | |||||||||||||||||||||||||
WaMu Global Settlement | — | (1,425 | ) | — | — | — | — | ||||||||||||||||||||||||
Employee contributions | NA | NA | (7 | ) | (5 | ) | (72 | ) | (74 | ) | |||||||||||||||||||||
Net gain/(loss) | 794 | (864 | ) | (62 | ) | (244 | ) | 138 | (9 | ) | |||||||||||||||||||||
Benefits paid | 669 | 592 | 106 | 108 | 144 | 149 | |||||||||||||||||||||||||
Expected Medicare Part D subsidy receipts | NA | NA | NA | NA | (10 | ) | (10 | ) | |||||||||||||||||||||||
Foreign exchange impact and other | — | — | (68 | ) | (112 | ) | — | (2 | ) | ||||||||||||||||||||||
Benefit obligation, end of year | $ | (10,776 | ) | $ | (11,478 | ) | $ | (3,433 | ) | $ | (3,243 | ) | $ | (826 | ) | $ | (990 | ) | |||||||||||||
Change in plan assets | |||||||||||||||||||||||||||||||
Fair value of plan assets, beginning of year | $ | 13,012 | $ | 10,472 | $ | 3,330 | $ | 2,989 | $ | 1,563 | $ | 1,435 | |||||||||||||||||||
Actual return on plan assets | 1,979 | 1,292 | 187 | 237 | 211 | 142 | |||||||||||||||||||||||||
Firm contributions | 32 | 31 | 45 | 86 | 2 | 2 | |||||||||||||||||||||||||
WaMu Global Settlement | — | 1,809 | — | — | — | — | |||||||||||||||||||||||||
Employee contributions | — | — | 7 | 5 | — | — | |||||||||||||||||||||||||
Benefits paid | (669 | ) | (592 | ) | (106 | ) | (108 | ) | (19 | ) | (16 | ) | |||||||||||||||||||
Foreign exchange impact and other | — | — | 69 | 121 | — | — | |||||||||||||||||||||||||
Fair value of plan assets, end of year | $ | 14,354 | (b)(c) | $ | 13,012 | (b)(c) | $ | 3,532 | (c) | $ | 3,330 | (c) | $ | 1,757 | $ | 1,563 | |||||||||||||||
Funded/(unfunded) status(a) | $ | 3,578 | $ | 1,534 | $ | 99 | $ | 87 | $ | 931 | $ | 573 | |||||||||||||||||||
Accumulated benefit obligation, end of year | $ | (10,685 | ) | $ | (11,447 | ) | $ | (3,406 | ) | $ | (3,221 | ) | NA | NA | |||||||||||||||||
(a) | Represents plans with an aggregate overfunded balance of $5.1 billion and $2.8 billion at December 31, 2013 and 2012, respectively, and plans with an aggregate underfunded balance of $540 million and $612 million at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||
(b) | At December 31, 2013 and 2012, approximately $429 million and $418 million, respectively, of U.S. plan assets included participation rights under participating annuity contracts. | ||||||||||||||||||||||||||||||
(c) | At December 31, 2013 and 2012, defined benefit pension plan amounts not measured at fair value included $96 million and $137 million, respectively, of accrued receivables, and $104 million and $310 million, respectively, of accrued liabilities, for U.S. plans; and at December 31, 2012, $47 million of accrued receivables, and $46 million of accrued liabilities, for non-U.S. plans. | ||||||||||||||||||||||||||||||
(d) | Includes an unfunded accumulated postretirement benefit obligation of $34 million and $31 million at December 31, 2013 and 2012, respectively, for the U.K. plan. | ||||||||||||||||||||||||||||||
Pretax pension and OPEB amounts recorded in AOCI | ' | ||||||||||||||||||||||||||||||
The following table presents pretax pension and OPEB amounts recorded in AOCI. | |||||||||||||||||||||||||||||||
Defined benefit pension plans | |||||||||||||||||||||||||||||||
December 31, | U.S. | Non-U.S. | OPEB plans | ||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Net gain/(loss) | $ | (1,726 | ) | $ | (3,814 | ) | $ | (658 | ) | $ | (676 | ) | $ | 125 | $ | (133 | ) | ||||||||||||||
Prior service credit/(cost) | 196 | 237 | 14 | 18 | 1 | 1 | |||||||||||||||||||||||||
Accumulated other comprehensive income/(loss), pretax, end of year | $ | (1,530 | ) | $ | (3,577 | ) | $ | (644 | ) | $ | (658 | ) | $ | 126 | $ | (132 | ) | ||||||||||||||
Components of net periodic benefit costs reported in the Consolidated Statements of Income and other comprehensive income | ' | ||||||||||||||||||||||||||||||
The following table presents the components of net periodic benefit costs reported in the Consolidated Statements of Income and other comprehensive income for the Firm’s U.S. and non-U.S. defined benefit pension, defined contribution and OPEB plans. | |||||||||||||||||||||||||||||||
Pension plans | |||||||||||||||||||||||||||||||
U.S. | Non-U.S. | OPEB plans | |||||||||||||||||||||||||||||
Year ended December 31, (in millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Components of net periodic benefit cost | |||||||||||||||||||||||||||||||
Benefits earned during the year | $ | 314 | $ | 272 | $ | 249 | $ | 34 | $ | 41 | $ | 36 | $ | 1 | $ | 1 | $ | 1 | |||||||||||||
Interest cost on benefit obligations | 447 | 466 | 451 | 125 | 126 | 133 | 35 | 44 | 51 | ||||||||||||||||||||||
Expected return on plan assets | (956 | ) | (861 | ) | (791 | ) | (142 | ) | (137 | ) | (141 | ) | (92 | ) | (90 | ) | (88 | ) | |||||||||||||
Amortization: | |||||||||||||||||||||||||||||||
Net (gain)/loss | 271 | 289 | 165 | 49 | 36 | 48 | 1 | (1 | ) | 1 | |||||||||||||||||||||
Prior service cost/(credit) | (41 | ) | (41 | ) | (43 | ) | (2 | ) | — | (1 | ) | — | — | (8 | ) | ||||||||||||||||
Net periodic defined benefit cost | 35 | 125 | 31 | 64 | 66 | 75 | (55 | ) | (46 | ) | (43 | ) | |||||||||||||||||||
Other defined benefit pension plans(a) | 15 | 15 | 19 | 14 | 8 | 12 | NA | NA | NA | ||||||||||||||||||||||
Total defined benefit plans | 50 | 140 | 50 | 78 | 74 | 87 | (55 | ) | (46 | ) | (43 | ) | |||||||||||||||||||
Total defined contribution plans | 447 | 409 | 370 | 321 | 302 | 285 | NA | NA | NA | ||||||||||||||||||||||
Total pension and OPEB cost included in compensation expense | $ | 497 | $ | 549 | $ | 420 | $ | 399 | $ | 376 | $ | 372 | $ | (55 | ) | $ | (46 | ) | $ | (43 | ) | ||||||||||
Changes in plan assets and benefit obligations recognized in other comprehensive income | |||||||||||||||||||||||||||||||
Net (gain)/loss arising during the year | $ | (1,817 | ) | $ | 434 | $ | 1,207 | $ | 19 | $ | 146 | $ | 25 | $ | (257 | ) | $ | (43 | ) | $ | 58 | ||||||||||
Prior service credit arising during the year | — | — | — | — | (6 | ) | — | — | — | — | |||||||||||||||||||||
Amortization of net loss | (271 | ) | (289 | ) | (165 | ) | (49 | ) | (36 | ) | (48 | ) | (1 | ) | 1 | (1 | ) | ||||||||||||||
Amortization of prior service (cost)/credit | 41 | 41 | 43 | 2 | — | 1 | — | — | 8 | ||||||||||||||||||||||
Foreign exchange impact and other | — | — | — | 14 | (a) | 22 | 1 | — | (1 | ) | — | ||||||||||||||||||||
Total recognized in other comprehensive income | $ | (2,047 | ) | $ | 186 | $ | 1,085 | $ | (14 | ) | $ | 126 | $ | (21 | ) | $ | (258 | ) | $ | (43 | ) | $ | 65 | ||||||||
Total recognized in net periodic benefit cost and other comprehensive income | $ | (2,012 | ) | $ | 311 | $ | 1,116 | $ | 50 | $ | 192 | $ | 54 | $ | (313 | ) | $ | (89 | ) | $ | 22 | ||||||||||
(a) | Includes various defined benefit pension plans which are individually immaterial. | ||||||||||||||||||||||||||||||
Estimated pretax amounts that will be amortized from AOCI into net periodic benefit cost | ' | ||||||||||||||||||||||||||||||
The estimated pretax amounts that will be amortized from AOCI into net periodic benefit cost in 2014 are as follows. | |||||||||||||||||||||||||||||||
Defined benefit pension plans | OPEB plans | ||||||||||||||||||||||||||||||
(in millions) | U.S. | Non-U.S. | U.S. | Non-U.S. | |||||||||||||||||||||||||||
Net loss/(gain) | $ | 35 | $ | 47 | $ | — | $ | — | |||||||||||||||||||||||
Prior service cost/(credit) | (41 | ) | (2 | ) | — | — | |||||||||||||||||||||||||
Total | $ | (6 | ) | $ | 45 | $ | — | $ | — | ||||||||||||||||||||||
Actual rate of return on plan assets | ' | ||||||||||||||||||||||||||||||
The following table presents the actual rate of return on plan assets for the U.S. and non-U.S. defined benefit pension and OPEB plans. | |||||||||||||||||||||||||||||||
U.S. | Non-U.S. | ||||||||||||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Actual rate of return: | |||||||||||||||||||||||||||||||
Defined benefit pension plans | 15.95 | % | 12.66 | % | 0.72 | % | 3.74 - 23.80% | 7.21 - 11.72% | (4.29)-13.12% | ||||||||||||||||||||||
OPEB plans | 13.88 | 10.1 | 5.22 | NA | NA | NA | |||||||||||||||||||||||||
Weighted-average assumptions used to determine benefit obligations | ' | ||||||||||||||||||||||||||||||
Weighted-average assumptions used to determine benefit obligations | |||||||||||||||||||||||||||||||
U.S. | Non-U.S. | ||||||||||||||||||||||||||||||
December 31, | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||
Discount rate: | |||||||||||||||||||||||||||||||
Defined benefit pension plans | 5 | % | 3.9 | % | 1.10 - 4.40% | 1.40 - 4.40% | |||||||||||||||||||||||||
OPEB plans | 4.9 | 3.9 | — | — | |||||||||||||||||||||||||||
Rate of compensation increase | 3.5 | 4 | 2.75 - 4.60 | 2.75 - 4.10 | |||||||||||||||||||||||||||
Health care cost trend rate: | |||||||||||||||||||||||||||||||
Assumed for next year | 6.5 | 7 | — | — | |||||||||||||||||||||||||||
Ultimate | 5 | 5 | — | — | |||||||||||||||||||||||||||
Year when rate will reach ultimate | 2017 | 2017 | — | — | |||||||||||||||||||||||||||
Weighted-average assumptions used to determine net periodic benefit costs | ' | ||||||||||||||||||||||||||||||
Weighted-average assumptions used to determine net periodic benefit costs | |||||||||||||||||||||||||||||||
U.S. | Non-U.S. | ||||||||||||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Discount rate: | |||||||||||||||||||||||||||||||
Defined benefit pension plans | 3.9 | % | 4.6 | % | 5.5 | % | 1.40 - 4.40% | 1.50 - 4.80% | 1.60-5.50% | ||||||||||||||||||||||
OPEB plans | 3.9 | 4.7 | 5.5 | — | — | — | |||||||||||||||||||||||||
Expected long-term rate of return on plan assets: | |||||||||||||||||||||||||||||||
Defined benefit pension plans | 7.5 | 7.5 | 7.5 | 2.40 - 4.90 | 2.50 - 4.60 | 2.40-5.40 | |||||||||||||||||||||||||
OPEB plans | 6.25 | 6.25 | 6.25 | NA | NA | NA | |||||||||||||||||||||||||
Rate of compensation increase | 4 | 4 | 4 | 2.75 - 4.10 | 2.75 - 4.20 | 3.00-4.50 | |||||||||||||||||||||||||
Health care cost trend rate: | |||||||||||||||||||||||||||||||
Assumed for next year | 7 | 7 | 7 | — | — | — | |||||||||||||||||||||||||
Ultimate | 5 | 5 | 5 | — | — | — | |||||||||||||||||||||||||
Year when rate will reach ultimate | 2017 | 2017 | 2017 | — | — | — | |||||||||||||||||||||||||
Effect of a one-percentage-point change in the assumed health care cost trend rate on the Firm's total service and interest cost and accumulated postretirement benefit obligation | ' | ||||||||||||||||||||||||||||||
The following table presents the effect of a one-percentage-point change in the assumed health care cost trend rate on JPMorgan Chase’s total service and interest cost and accumulated postretirement benefit obligation. | |||||||||||||||||||||||||||||||
Year ended December 31, 2013 (in millions) | 1-Percentage point increase | 1-Percentage point decrease | |||||||||||||||||||||||||||||
Effect on total service and interest cost | $ | 1 | $ | (1 | ) | ||||||||||||||||||||||||||
Effect on accumulated postretirement benefit obligation | 31 | (26 | ) | ||||||||||||||||||||||||||||
Weighted-average asset allocation of the fair values of total plan assets | ' | ||||||||||||||||||||||||||||||
The following table presents the weighted-average asset allocation of the fair values of total plan assets at December 31 for the years indicated, as well as the respective approved range/target allocation by asset category, for the Firm’s U.S. and non-U.S. defined benefit pension and OPEB plans. | |||||||||||||||||||||||||||||||
Defined benefit pension plans | |||||||||||||||||||||||||||||||
U.S. | Non-U.S. | OPEB plans(c) | |||||||||||||||||||||||||||||
Target | % of plan assets | Target | % of plan assets | Target | % of plan assets | ||||||||||||||||||||||||||
December 31, | Allocation | 2013 | 2012 | Allocation | 2013 | 2012 | Allocation | 2013 | 2012 | ||||||||||||||||||||||
Asset category | |||||||||||||||||||||||||||||||
Debt securities(a) | 0-80% | 25 | % | 20 | % | 64 | % | 63 | % | 72 | % | 50 | % | 50 | % | 50 | % | ||||||||||||||
Equity securities | 0-85 | 48 | 41 | 35 | 36 | 27 | 50 | 50 | 50 | ||||||||||||||||||||||
Real estate | 0-10 | 4 | 5 | — | — | — | — | — | — | ||||||||||||||||||||||
Alternatives(b) | 0-50 | 23 | 34 | 1 | 1 | 1 | — | — | — | ||||||||||||||||||||||
Total | 100% | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | ||||||||||||||
(a) | Debt securities primarily include corporate debt, U.S. federal, state, local and non-U.S. government, and mortgage-backed securities. | ||||||||||||||||||||||||||||||
(b) | Alternatives primarily include limited partnerships. | ||||||||||||||||||||||||||||||
(c) | Represents the U.S. OPEB plan only, as the U.K. OPEB plan is unfunded. | ||||||||||||||||||||||||||||||
Pension and OPEB plan assets and liabilities measured at fair value | ' | ||||||||||||||||||||||||||||||
Pension and OPEB plan assets and liabilities measured at fair value | |||||||||||||||||||||||||||||||
U.S. defined benefit pension plans | Non-U.S. defined benefit pension plans(i) | ||||||||||||||||||||||||||||||
31-Dec-13 | Level 1 | Level 2 | Level 3 | Total fair value | Level 1 | Level 2 | Total fair value | ||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 62 | $ | — | $ | — | $ | 62 | $ | 221 | $ | 3 | $ | 224 | |||||||||||||||||
Equity securities: | |||||||||||||||||||||||||||||||
Capital equipment | 1,084 | — | — | 1,084 | 86 | 17 | 103 | ||||||||||||||||||||||||
Consumer goods | 1,085 | — | — | 1,085 | 225 | 50 | 275 | ||||||||||||||||||||||||
Banks and finance companies | 737 | — | — | 737 | 233 | 29 | 262 | ||||||||||||||||||||||||
Business services | 510 | — | — | 510 | 209 | 14 | 223 | ||||||||||||||||||||||||
Energy | 292 | — | — | 292 | 64 | 20 | 84 | ||||||||||||||||||||||||
Materials | 344 | — | — | 344 | 36 | 9 | 45 | ||||||||||||||||||||||||
Real Estate | 38 | — | — | 38 | — | 1 | 1 | ||||||||||||||||||||||||
Other | 1,337 | 18 | 4 | 1,359 | 25 | 103 | 128 | ||||||||||||||||||||||||
Total equity securities | 5,427 | 18 | 4 | 5,449 | 878 | 243 | 1,121 | ||||||||||||||||||||||||
Common/collective trust funds(a) | — | 1,308 | 4 | 1,312 | 98 | 248 | 346 | ||||||||||||||||||||||||
Limited partnerships:(b) | |||||||||||||||||||||||||||||||
Hedge funds | — | 355 | 718 | 1,073 | — | — | — | ||||||||||||||||||||||||
Private equity | — | — | 1,969 | 1,969 | — | — | — | ||||||||||||||||||||||||
Real estate | — | — | 558 | 558 | — | — | — | ||||||||||||||||||||||||
Real assets(c) | — | — | 271 | 271 | — | — | — | ||||||||||||||||||||||||
Total limited partnerships | — | 355 | 3,516 | 3,871 | — | — | — | ||||||||||||||||||||||||
Corporate debt securities(d) | — | 1,223 | 7 | 1,230 | — | 787 | 787 | ||||||||||||||||||||||||
U.S. federal, state, local and non-U.S. government debt securities | 343 | 299 | — | 642 | — | 777 | 777 | ||||||||||||||||||||||||
Mortgage-backed securities | 37 | 50 | — | 87 | 73 | — | 73 | ||||||||||||||||||||||||
Derivative receivables | — | 30 | — | 30 | — | 302 | 302 | ||||||||||||||||||||||||
Other(e) | 1,214 | 41 | 430 | 1,685 | 148 | 52 | 200 | ||||||||||||||||||||||||
Total assets measured at fair value(f)(g) | $ | 7,083 | $ | 3,324 | $ | 3,961 | $ | 14,368 | $ | 1,418 | $ | 2,412 | $ | 3,830 | |||||||||||||||||
Derivative payables | $ | — | $ | (6 | ) | $ | — | $ | (6 | ) | $ | — | $ | (298 | ) | $ | (298 | ) | |||||||||||||
Total liabilities measured at fair value(h) | $ | — | $ | (6 | ) | $ | — | $ | (6 | ) | $ | — | $ | (298 | ) | $ | (298 | ) | |||||||||||||
U.S. defined benefit pension plans | Non-U.S. defined benefit pension plans(i) | ||||||||||||||||||||||||||||||
31-Dec-12 | Level 1 | Level 2 | Level 3 | Total fair value | Level 1 | Level 2 | Total fair value | ||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 162 | $ | — | $ | — | $ | 162 | $ | 142 | $ | — | $ | 142 | |||||||||||||||||
Equity securities: | |||||||||||||||||||||||||||||||
Capital equipment | 702 | 6 | — | 708 | 115 | 15 | 130 | ||||||||||||||||||||||||
Consumer goods | 744 | 4 | — | 748 | 136 | 32 | 168 | ||||||||||||||||||||||||
Banks and finance companies | 425 | 54 | — | 479 | 94 | 23 | 117 | ||||||||||||||||||||||||
Business services | 424 | — | — | 424 | 125 | 8 | 133 | ||||||||||||||||||||||||
Energy | 192 | — | — | 192 | 54 | 12 | 66 | ||||||||||||||||||||||||
Materials | 211 | — | — | 211 | 30 | 6 | 36 | ||||||||||||||||||||||||
Real estate | 18 | — | — | 18 | 10 | — | 10 | ||||||||||||||||||||||||
Other | 1,107 | 42 | 4 | 1,153 | 19 | 71 | 90 | ||||||||||||||||||||||||
Total equity securities | 3,823 | 106 | 4 | 3,933 | 583 | 167 | 750 | ||||||||||||||||||||||||
Common/collective trust funds(a) | 412 | 1,660 | 199 | 2,271 | 62 | 192 | 254 | ||||||||||||||||||||||||
Limited partnerships:(b) | |||||||||||||||||||||||||||||||
Hedge funds | — | 878 | 1,166 | 2,044 | — | — | — | ||||||||||||||||||||||||
Private equity | — | — | 1,743 | 1,743 | — | — | — | ||||||||||||||||||||||||
Real estate | — | — | 467 | 467 | — | — | — | ||||||||||||||||||||||||
Real assets(c) | — | — | 311 | 311 | — | — | — | ||||||||||||||||||||||||
Total limited partnerships | — | 878 | 3,687 | 4,565 | — | — | — | ||||||||||||||||||||||||
Corporate debt securities(d) | — | 1,114 | 1 | 1,115 | — | 765 | 765 | ||||||||||||||||||||||||
U.S. federal, state, local and non-U.S. government debt securities | — | 537 | — | 537 | — | 1,237 | 1,237 | ||||||||||||||||||||||||
Mortgage-backed securities | 107 | 30 | — | 137 | 100 | — | 100 | ||||||||||||||||||||||||
Derivative receivables | 3 | 5 | — | 8 | 109 | — | 109 | ||||||||||||||||||||||||
Other(e) | 7 | 34 | 420 | 461 | 21 | 67 | 88 | ||||||||||||||||||||||||
Total assets measured at fair value(f)(g) | $ | 4,514 | $ | 4,364 | $ | 4,311 | $ | 13,189 | $ | 1,017 | $ | 2,428 | $ | 3,445 | |||||||||||||||||
Derivative payables | $ | — | $ | (4 | ) | $ | — | $ | (4 | ) | $ | (116 | ) | $ | — | $ | (116 | ) | |||||||||||||
Total liabilities measured at fair value(h) | $ | — | $ | (4 | ) | $ | — | $ | (4 | ) | $ | (116 | ) | $ | — | $ | (116 | ) | |||||||||||||
(a) | At December 31, 2013 and 2012, common/collective trust funds primarily included a mix of short-term investment funds, domestic and international equity investments (including index) and real estate funds. | ||||||||||||||||||||||||||||||
(b) | Unfunded commitments to purchase limited partnership investments for the plans were $1.6 billion and $1.4 billion for 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||
(c) | Real assets include investments in productive assets such as agriculture, energy rights, mining and timber properties and exclude raw land to be developed for real estate purposes. | ||||||||||||||||||||||||||||||
(d) | Corporate debt securities include debt securities of U.S. and non-U.S. corporations. | ||||||||||||||||||||||||||||||
(e) | Other consists of money markets, exchange-traded funds and participating and non-participating annuity contracts. Money markets and exchange-traded funds are primarily classified within level 1 of the fair value hierarchy given they are valued using market observable prices. Participating and non-participating annuity contracts are classified within level 3 of the fair value hierarchy due to lack of market mechanisms for transferring each policy and surrender restrictions. | ||||||||||||||||||||||||||||||
(f) | At December 31, 2013 and 2012, the fair value of investments valued at NAV were $2.7 billion and $4.4 billion, respectively, which were classified within the valuation hierarchy as follows: $100 million and $400 million in level 1, $1.9 billion and $2.5 billion in level 2 and $700 million and $1.5 billion in level 3. | ||||||||||||||||||||||||||||||
(g) | At December 31, 2013 and 2012, excluded U.S. defined benefit pension plan receivables for investments sold and dividends and interest receivables of $96 million and $137 million, respectively; and at December 31, 2012, excluded non-U.S. defined benefit pension plan receivables for investments sold and dividends and interest receivables of $47 million. | ||||||||||||||||||||||||||||||
(h) | At December 31, 2013 and 2012, excluded $102 million and $306 million, respectively, of U.S. defined benefit pension plan payables for investments purchased; and $2 million and $4 million, respectively, of other liabilities; and at December 31, 2012, excluded non-U.S. defined benefit pension plan payables for investments purchased of $46 million. | ||||||||||||||||||||||||||||||
(i) | There were no assets or liabilities classified as level 3 for the non-U.S. defined benefit pension plans as of December 31, 2013 and 2012. | ||||||||||||||||||||||||||||||
Changes in level 3 fair value measurements using significant unobservable inputs | ' | ||||||||||||||||||||||||||||||
Changes in level 3 fair value measurements using significant unobservable inputs | |||||||||||||||||||||||||||||||
Year ended December 31, 2013 | Fair value, January 1, 2013 | Actual return on plan assets | Purchases, sales and settlements, net | Transfers in and/or out of level 3 | Fair value, December 31, 2013 | ||||||||||||||||||||||||||
(in millions) | Realized gains/(losses) | Unrealized gains/(losses) | |||||||||||||||||||||||||||||
U.S. defined benefit pension plans | |||||||||||||||||||||||||||||||
Equities | $ | 4 | $ | — | $ | — | $ | — | $ | — | $ | 4 | |||||||||||||||||||
Common/collective trust funds | 199 | 59 | (32 | ) | (222 | ) | — | 4 | |||||||||||||||||||||||
Limited partnerships: | |||||||||||||||||||||||||||||||
Hedge funds | 1,166 | 137 | 14 | (593 | ) | (6 | ) | 718 | |||||||||||||||||||||||
Private equity | 1,743 | 108 | 170 | (4 | ) | (48 | ) | 1,969 | |||||||||||||||||||||||
Real estate | 467 | 21 | 44 | 26 | — | 558 | |||||||||||||||||||||||||
Real assets | 311 | 4 | 12 | (98 | ) | 42 | 271 | ||||||||||||||||||||||||
Total limited partnerships | 3,687 | 270 | 240 | (669 | ) | (12 | ) | 3,516 | |||||||||||||||||||||||
Corporate debt securities | 1 | — | — | — | 6 | 7 | |||||||||||||||||||||||||
Other | 420 | — | 10 | — | — | 430 | |||||||||||||||||||||||||
Total U.S. defined benefit pension plans | $ | 4,311 | $ | 329 | $ | 218 | $ | (891 | ) | $ | (6 | ) | $ | 3,961 | |||||||||||||||||
OPEB plans | |||||||||||||||||||||||||||||||
COLI | $ | 1,554 | $ | — | $ | 195 | $ | — | $ | — | $ | 1,749 | |||||||||||||||||||
Total OPEB plans | $ | 1,554 | $ | — | $ | 195 | $ | — | $ | — | $ | 1,749 | |||||||||||||||||||
Year ended December 31, 2012 | Fair value, January 1, 2012 | Actual return on plan assets | Purchases, sales and settlements, net | Transfers in and/or out of level 3 | Fair value, December 31, 2012 | ||||||||||||||||||||||||||
(in millions) | Realized gains/(losses) | Unrealized gains/(losses) | |||||||||||||||||||||||||||||
U.S. defined benefit pension plans | |||||||||||||||||||||||||||||||
Equities | $ | 1 | $ | — | $ | (1 | ) | $ | — | $ | 4 | $ | 4 | ||||||||||||||||||
Common/collective trust funds | 202 | 2 | 22 | (27 | ) | — | 199 | ||||||||||||||||||||||||
Limited partnerships: | |||||||||||||||||||||||||||||||
Hedge funds | 1,039 | 1 | 71 | 55 | — | 1,166 | |||||||||||||||||||||||||
Private equity | 1,367 | 59 | 54 | 263 | — | 1,743 | |||||||||||||||||||||||||
Real estate | 306 | 16 | 1 | 144 | — | 467 | |||||||||||||||||||||||||
Real assets | 264 | — | 10 | 37 | — | 311 | |||||||||||||||||||||||||
Total limited partnerships | 2,976 | 76 | 136 | 499 | — | 3,687 | |||||||||||||||||||||||||
Corporate debt securities | 2 | — | — | (1 | ) | — | 1 | ||||||||||||||||||||||||
Other | 427 | — | (7 | ) | — | — | 420 | ||||||||||||||||||||||||
Total U.S. defined benefit pension plans | $ | 3,608 | $ | 78 | $ | 150 | $ | 471 | $ | 4 | $ | 4,311 | |||||||||||||||||||
OPEB plans | |||||||||||||||||||||||||||||||
COLI | $ | 1,427 | $ | — | $ | 127 | $ | — | $ | — | $ | 1,554 | |||||||||||||||||||
Total OPEB plans | $ | 1,427 | $ | — | $ | 127 | $ | — | $ | — | $ | 1,554 | |||||||||||||||||||
Year ended December 31, 2011 | Fair value, January 1, 2011 | Actual return on plan assets | Purchases, sales and settlements, net | Transfers in and/or out of level 3 | Fair value, December 31, 2011 | ||||||||||||||||||||||||||
(in millions) | Realized gains/(losses) | Unrealized gains/(losses) | |||||||||||||||||||||||||||||
U.S. defined benefit pension plans | |||||||||||||||||||||||||||||||
Equities | $ | — | $ | — | $ | — | $ | — | $ | 1 | $ | 1 | |||||||||||||||||||
Common/collective trust funds | 194 | 35 | 1 | (28 | ) | — | 202 | ||||||||||||||||||||||||
Limited partnerships: | |||||||||||||||||||||||||||||||
Hedge funds | 1,160 | (16 | ) | 27 | (76 | ) | (56 | ) | 1,039 | ||||||||||||||||||||||
Private equity | 1,232 | 56 | 2 | 77 | — | 1,367 | |||||||||||||||||||||||||
Real estate | 304 | 8 | 40 | 14 | (60 | ) | 306 | ||||||||||||||||||||||||
Real assets | — | 5 | (7 | ) | 150 | 116 | 264 | ||||||||||||||||||||||||
Total limited partnerships | 2,696 | 53 | 62 | 165 | — | 2,976 | |||||||||||||||||||||||||
Corporate debt securities | 1 | — | — | 1 | — | 2 | |||||||||||||||||||||||||
Other | 387 | — | 41 | (1 | ) | — | 427 | ||||||||||||||||||||||||
Total U.S. defined benefit pension plans | $ | 3,278 | $ | 88 | $ | 104 | $ | 137 | $ | 1 | $ | 3,608 | |||||||||||||||||||
OPEB plans | |||||||||||||||||||||||||||||||
COLI | $ | 1,381 | $ | — | $ | 70 | $ | (24 | ) | $ | — | $ | 1,427 | ||||||||||||||||||
Total OPEB plans | $ | 1,381 | $ | — | $ | 70 | $ | (24 | ) | $ | — | $ | 1,427 | ||||||||||||||||||
Estimated future benefit payments | ' | ||||||||||||||||||||||||||||||
The following table presents benefit payments expected to be paid, which include the effect of expected future service, for the years indicated. The OPEB medical and life insurance payments are net of expected retiree contributions. | |||||||||||||||||||||||||||||||
Year ended December 31, | U.S. defined benefit pension plans | Non-U.S. defined benefit pension plans | OPEB before Medicare Part D subsidy | Medicare Part D subsidy | |||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||
2014 | $ | 703 | $ | 112 | $ | 86 | $ | 10 | |||||||||||||||||||||||
2015 | 731 | 118 | 85 | 11 | |||||||||||||||||||||||||||
2016 | 872 | 123 | 83 | 12 | |||||||||||||||||||||||||||
2017 | 907 | 129 | 81 | 12 | |||||||||||||||||||||||||||
2018 | 931 | 140 | 78 | 13 | |||||||||||||||||||||||||||
Years 2019–2023 | 4,139 | 785 | 345 | 47 | |||||||||||||||||||||||||||
Employee_StockBased_Incentives1
Employee Stock-Based Incentives (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||||
Restricted Stock Unit (RSU) activity | ' | |||||||||||||||||
The following table summarizes JPMorgan Chase’s RSUs, employee stock options and SARs activity for 2013. | ||||||||||||||||||
RSUs | Options/SARs | |||||||||||||||||
Year ended December 31, 2013 | Number of | Weighted-average grant | Number of awards | Weighted-average exercise price | Weighted-average remaining contractual life (in years) | Aggregate intrinsic value | ||||||||||||
(in thousands, except weighted-average data, and where otherwise stated) | shares | date fair value | ||||||||||||||||
Outstanding, January 1 | 142,006 | $ | 40.49 | 115,906 | $ | 42.44 | ||||||||||||
Granted | 46,171 | 46.92 | 12,563 | 46.77 | ||||||||||||||
Exercised or vested | (62,331 | ) | 43.28 | (35,825 | ) | 37.32 | ||||||||||||
Forfeited | (4,605 | ) | 40.77 | (4,007 | ) | 39.44 | ||||||||||||
Canceled | NA | NA | (1,562 | ) | 104.49 | |||||||||||||
Outstanding, December 31 | 121,241 | $ | 41.47 | 87,075 | $ | 44.24 | 5.6 | $ | 1,622,238 | |||||||||
Exercisable, December 31 | NA | NA | 46,855 | 47.5 | 4.2 | 904,017 | ||||||||||||
Noncash compensation expense related to employee stock-based incentive plans | ' | |||||||||||||||||
The Firm recognized the following noncash compensation expense related to its various employee stock-based incentive plans in its Consolidated Statements of Income. | ||||||||||||||||||
Year ended December 31, (in millions) | 2013 | 2012 | 2011 | |||||||||||||||
Cost of prior grants of RSUs and SARs that are amortized over their applicable vesting periods | $ | 1,440 | $ | 1,810 | $ | 1,986 | ||||||||||||
Accrual of estimated costs of RSUs and SARs to be granted in future periods including those to full-career eligible employees | 779 | 735 | 689 | |||||||||||||||
Total noncash compensation expense related to employee stock-based incentive plans | $ | 2,219 | $ | 2,545 | $ | 2,675 | ||||||||||||
Cash received from the exercise of stock options and income tax benefit realized | ' | |||||||||||||||||
The following table sets forth the cash received from the exercise of stock options under all stock-based incentive arrangements, and the actual income tax benefit realized related to tax deductions from the exercise of the stock options. | ||||||||||||||||||
Year ended December 31, (in millions) | 2013 | 2012 | 2011 | |||||||||||||||
Cash received for options exercised | $ | 166 | $ | 333 | $ | 354 | ||||||||||||
Tax benefit realized(a) | 42 | 53 | 31 | |||||||||||||||
(a) | The tax benefit realized from dividends or dividend equivalents paid on equity-classified share-based payment awards that are charged to retained earnings are recorded as an increase to additional paid-in capital and included in the pool of excess tax benefits available to absorb tax deficiencies on share-based payment awards. | |||||||||||||||||
Assumptions used to value employee stock options and Stock Appreciation Rights (SARs) | ' | |||||||||||||||||
The following table presents the assumptions used to value employee stock options and SARs granted during the years ended December 31, 2013, 2012 and 2011, under the Black-Scholes valuation model. | ||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||
Weighted-average annualized valuation assumptions | ||||||||||||||||||
Risk-free interest rate | 1.18 | % | 1.19 | % | 2.58 | % | ||||||||||||
Expected dividend yield | 2.66 | 3.15 | 2.2 | |||||||||||||||
Expected common stock price volatility | 28 | 35 | 34 | |||||||||||||||
Expected life (in years) | 6.6 | 6.6 | 6.5 |
Noninterest_Expense_Tables
Noninterest Expense (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Noninterest Expense [Abstract] | ' | |||||||||||
Components of noninterest expense | ' | |||||||||||
The following table presents the components of noninterest expense. | ||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||
(in millions) | ||||||||||||
Compensation expense | $ | 30,810 | $ | 30,585 | $ | 29,037 | ||||||
Noncompensation expense: | ||||||||||||
Occupancy expense | 3,693 | 3,925 | 3,895 | |||||||||
Technology, communications and equipment expense | 5,425 | 5,224 | 4,947 | |||||||||
Professional and outside services | 7,641 | 7,429 | 7,482 | |||||||||
Marketing | 2,500 | 2,577 | 3,143 | |||||||||
Other expense(a)(b) | 19,761 | 14,032 | 13,559 | |||||||||
Amortization of intangibles | 637 | 957 | 848 | |||||||||
Total noncompensation expense | 39,657 | 34,144 | 33,874 | |||||||||
Total noninterest expense | $ | 70,467 | $ | 64,729 | $ | 62,911 | ||||||
(a) | Included firmwide legal expense of $11.1 billion, $5.0 billion and $4.9 billion for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||
(b) | Included FDIC-related expense of $1.5 billion, $1.7 billion and $1.5 billion for the years ended December 31, 2013, 2012 and 2011, respectively. |
Securities_Tables
Securities (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||||||
Securities gains and losses | ' | |||||||||||||||||||||||||||
The following table presents realized gains and losses and credit losses that were recognized in income from AFS securities. | ||||||||||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
Realized gains | $ | 1,302 | $ | 2,610 | $ | 1,811 | ||||||||||||||||||||||
Realized losses | (614 | ) | (457 | ) | (142 | ) | ||||||||||||||||||||||
Net realized gains(a) | 688 | 2,153 | 1,669 | |||||||||||||||||||||||||
OTTI losses | ||||||||||||||||||||||||||||
Credit-related | (1 | ) | (28 | ) | (76 | ) | ||||||||||||||||||||||
Securities the Firm intends to sell | (20 | ) | (b) | (15 | ) | (b) | — | |||||||||||||||||||||
Total OTTI losses recognized in income | (21 | ) | (43 | ) | (76 | ) | ||||||||||||||||||||||
Net securities gains | $ | 667 | $ | 2,110 | $ | 1,593 | ||||||||||||||||||||||
(a) | Proceeds from securities sold were within approximately 2% of amortized cost in 2013, and within approximately 4% of amortized cost in 2012 and 2011. | |||||||||||||||||||||||||||
(b) | Excludes realized losses of $12 million and $24 million for the years ended December 31, 2013 and 2012, respectively that had been previously reported as an OTTI loss due to the intention to sell the securities. | |||||||||||||||||||||||||||
Amortized costs and estimated fair values | ' | |||||||||||||||||||||||||||
The amortized costs and estimated fair values of the investment securities portfolio were as follows for the dates indicated. | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
December 31, (in millions) | Amortized cost | Gross unrealized gains | Gross unrealized losses | Fair | Amortized cost | Gross unrealized gains | Gross unrealized losses | Fair | ||||||||||||||||||||
value | value | |||||||||||||||||||||||||||
Available-for-sale debt securities | ||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||
U.S. government agencies(a) | $ | 76,428 | $ | 2,364 | $ | 977 | $ | 77,815 | $ | 93,693 | $ | 4,708 | $ | 13 | $ | 98,388 | ||||||||||||
Residential: | ||||||||||||||||||||||||||||
Prime and Alt-A | 2,744 | 61 | 27 | 2,778 | 1,853 | 83 | 3 | 1,933 | ||||||||||||||||||||
Subprime | 908 | 23 | 1 | 930 | 825 | 28 | — | 853 | ||||||||||||||||||||
Non-U.S. | 57,448 | 1,314 | 1 | 58,761 | 70,358 | 1,524 | 29 | 71,853 | ||||||||||||||||||||
Commercial | 15,891 | 560 | 26 | 16,425 | 12,268 | 948 | 13 | 13,203 | ||||||||||||||||||||
Total mortgage-backed securities | 153,419 | 4,322 | 1,032 | 156,709 | 178,997 | 7,291 | 58 | 186,230 | ||||||||||||||||||||
U.S. Treasury and government agencies(a) | 21,310 | 385 | 306 | 21,389 | 12,022 | 116 | 8 | 12,130 | ||||||||||||||||||||
Obligations of U.S. states and municipalities | 29,741 | 707 | 987 | 29,461 | 19,876 | 1,845 | 10 | 21,711 | ||||||||||||||||||||
Certificates of deposit | 1,041 | 1 | 1 | 1,041 | 2,781 | 4 | 2 | 2,783 | ||||||||||||||||||||
Non-U.S. government debt securities | 55,507 | 863 | 122 | 56,248 | 65,168 | 901 | 25 | 66,044 | ||||||||||||||||||||
Corporate debt securities | 21,043 | 498 | 29 | 21,512 | 37,999 | 694 | 84 | 38,609 | ||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||
Collateralized loan obligations | 28,130 | 236 | 136 | 28,230 | 27,483 | 465 | 52 | 27,896 | ||||||||||||||||||||
Other | 12,062 | 186 | 3 | 12,245 | 12,816 | 166 | 11 | 12,971 | ||||||||||||||||||||
Total available-for-sale debt securities | 322,253 | 7,198 | 2,616 | 326,835 | 357,142 | 11,482 | 250 | 368,374 | ||||||||||||||||||||
Available-for-sale equity securities | 3,125 | 17 | — | 3,142 | 2,750 | 21 | — | 2,771 | ||||||||||||||||||||
Total available-for-sale securities | $ | 325,378 | $ | 7,215 | $ | 2,616 | $ | 329,977 | $ | 359,892 | $ | 11,503 | $ | 250 | $ | 371,145 | ||||||||||||
Total held-to-maturity securities(b) | $ | 24,026 | $ | 22 | $ | 317 | $ | 23,731 | $ | 7 | $ | 1 | $ | — | $ | 8 | ||||||||||||
(a) | Includes total U.S. government-sponsored enterprise obligations with fair values of $67.0 billion and $84.0 billion at December 31, 2013 and 2012, respectively, which were predominantly mortgage-related. | |||||||||||||||||||||||||||
(b) | As of December 31, 2013, consists of MBS issued by U.S. government-sponsored enterprises with an amortized cost of $23.1 billion and obligations of U.S. states and municipalities with an amortized cost of $920 million. | |||||||||||||||||||||||||||
Securities impairment | ' | |||||||||||||||||||||||||||
The following tables present the fair value and gross unrealized losses for the investment securities portfolio by aging category at December 31, 2013 and 2012. | ||||||||||||||||||||||||||||
Securities with gross unrealized losses | ||||||||||||||||||||||||||||
Less than 12 months | 12 months or more | |||||||||||||||||||||||||||
December 31, 2013 (in millions) | Fair value | Gross unrealized losses | Fair value | Gross unrealized losses | Total fair value | Total gross unrealized losses | ||||||||||||||||||||||
Available-for-sale debt securities | ||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||
U.S. government agencies | $ | 20,293 | $ | 895 | $ | 1,150 | $ | 82 | $ | 21,443 | $ | 977 | ||||||||||||||||
Residential: | ||||||||||||||||||||||||||||
Prime and Alt-A | 1,061 | 27 | — | — | 1,061 | 27 | ||||||||||||||||||||||
Subprime | 152 | 1 | — | — | 152 | 1 | ||||||||||||||||||||||
Non-U.S. | — | — | 158 | 1 | 158 | 1 | ||||||||||||||||||||||
Commercial | 3,980 | 26 | — | — | 3,980 | 26 | ||||||||||||||||||||||
Total mortgage-backed securities | 25,486 | 949 | 1,308 | 83 | 26,794 | 1,032 | ||||||||||||||||||||||
U.S. Treasury and government agencies | 6,293 | 250 | 237 | 56 | 6,530 | 306 | ||||||||||||||||||||||
Obligations of U.S. states and municipalities | 15,387 | 975 | 55 | 12 | 15,442 | 987 | ||||||||||||||||||||||
Certificates of deposit | 988 | 1 | — | — | 988 | 1 | ||||||||||||||||||||||
Non-U.S. government debt securities | 11,286 | 110 | 821 | 12 | 12,107 | 122 | ||||||||||||||||||||||
Corporate debt securities | 1,580 | 21 | 505 | 8 | 2,085 | 29 | ||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||
Collateralized loan obligations | 18,369 | 129 | 393 | 7 | 18,762 | 136 | ||||||||||||||||||||||
Other | 1,114 | 3 | — | — | 1,114 | 3 | ||||||||||||||||||||||
Total available-for-sale debt securities | 80,503 | 2,438 | 3,319 | 178 | 83,822 | 2,616 | ||||||||||||||||||||||
Available-for-sale equity securities | — | — | — | — | — | — | ||||||||||||||||||||||
Held-to-maturity securities | 20,745 | 317 | — | — | 20,745 | 317 | ||||||||||||||||||||||
Total securities with gross unrealized losses | $ | 101,248 | $ | 2,755 | $ | 3,319 | $ | 178 | $ | 104,567 | $ | 2,933 | ||||||||||||||||
Securities with gross unrealized losses | ||||||||||||||||||||||||||||
Less than 12 months | 12 months or more | |||||||||||||||||||||||||||
December 31, 2012 (in millions) | Fair value | Gross unrealized losses | Fair value | Gross unrealized losses | Total fair value | Total gross unrealized losses | ||||||||||||||||||||||
Available-for-sale debt securities | ||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||
U.S. government agencies | $ | 2,440 | $ | 13 | $ | — | $ | — | $ | 2,440 | $ | 13 | ||||||||||||||||
Residential: | ||||||||||||||||||||||||||||
Prime and Alt-A | 218 | 2 | 76 | 1 | 294 | 3 | ||||||||||||||||||||||
Subprime | — | — | — | — | — | — | ||||||||||||||||||||||
Non-U.S. | 2,442 | 6 | 734 | 23 | 3,176 | 29 | ||||||||||||||||||||||
Commercial | 1,159 | 8 | 312 | 5 | 1,471 | 13 | ||||||||||||||||||||||
Total mortgage-backed securities | 6,259 | 29 | 1,122 | 29 | 7,381 | 58 | ||||||||||||||||||||||
U.S. Treasury and government agencies | 4,198 | 8 | — | — | 4,198 | 8 | ||||||||||||||||||||||
Obligations of U.S. states and municipalities | 907 | 10 | — | — | 907 | 10 | ||||||||||||||||||||||
Certificates of deposit | 741 | 2 | — | — | 741 | 2 | ||||||||||||||||||||||
Non-U.S. government debt securities | 14,527 | 21 | 1,927 | 4 | 16,454 | 25 | ||||||||||||||||||||||
Corporate debt securities | 2,651 | 10 | 5,641 | 74 | 8,292 | 84 | ||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||
Collateralized loan obligations | 6,328 | 17 | 2,063 | 35 | 8,391 | 52 | ||||||||||||||||||||||
Other | 2,076 | 7 | 275 | 4 | 2,351 | 11 | ||||||||||||||||||||||
Total available-for-sale debt securities | 37,687 | 104 | 11,028 | 146 | 48,715 | 250 | ||||||||||||||||||||||
Available-for-sale equity securities | — | — | — | — | — | — | ||||||||||||||||||||||
Held-to-maturity securities | — | — | — | — | — | — | ||||||||||||||||||||||
Total securities with gross unrealized losses | $ | 37,687 | $ | 104 | $ | 11,028 | $ | 146 | $ | 48,715 | $ | 250 | ||||||||||||||||
Credit losses in securities gains and losses | ' | |||||||||||||||||||||||||||
The following table presents OTTI losses that are included in the securities gains and losses table above. | ||||||||||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
Debt securities the Firm does not intend to sell that have credit losses | ||||||||||||||||||||||||||||
Total OTTI(a) | $ | (1 | ) | $ | (113 | ) | $ | (27 | ) | |||||||||||||||||||
Losses recorded in/(reclassified from) AOCI | — | 85 | (49 | ) | ||||||||||||||||||||||||
Total credit losses recognized in income(b) | (1 | ) | (28 | ) | (76 | ) | ||||||||||||||||||||||
Securities the Firm intends to sell | (20 | ) | (c) | (15 | ) | (c) | — | |||||||||||||||||||||
Total OTTI losses recognized in income | $ | (21 | ) | $ | (43 | ) | $ | (76 | ) | |||||||||||||||||||
(a) | For initial OTTI, represents the excess of the amortized cost over the fair value of AFS debt securities. For subsequent impairments of the same security, represents additional declines in fair value subsequent to previously recorded OTTI, if applicable. | |||||||||||||||||||||||||||
(b) | Subsequent credit losses may be recorded on securities without a corresponding further decline in fair value if there has been a decline in expected cash flows. | |||||||||||||||||||||||||||
(c) | Excludes realized losses of $12 million and $24 million for the years ended December 31, 2013 and 2012, respectively that had been previously reported as an OTTI loss due to the intention to sell the securities. | |||||||||||||||||||||||||||
Changes in the credit loss component of credit-impaired debt securities | ' | |||||||||||||||||||||||||||
The following table presents a rollforward for the years ended December 31, 2013, 2012 and 2011, of the credit loss component of OTTI losses that have been recognized in income, related to AFS debt securities that the Firm does not intend to sell. | ||||||||||||||||||||||||||||
Year ended December 31, (in millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Balance, beginning of period | $ | 522 | $ | 708 | $ | 632 | ||||||||||||||||||||||
Additions: | ||||||||||||||||||||||||||||
Newly credit-impaired securities | 1 | 21 | 4 | |||||||||||||||||||||||||
Losses reclassified from other comprehensive income on previously credit-impaired securities | — | 7 | 72 | |||||||||||||||||||||||||
Reductions: | ||||||||||||||||||||||||||||
Sales and redemptions of credit-impaired securities | (522 | ) | (214 | ) | — | |||||||||||||||||||||||
Balance, end of period | $ | 1 | $ | 522 | $ | 708 | ||||||||||||||||||||||
Amortized cost and estimated fair value by contractual maturity | ' | |||||||||||||||||||||||||||
The following table presents the amortized cost and estimated fair value at December 31, 2013, of JPMorgan Chase’s investment securities portfolio by contractual maturity. | ||||||||||||||||||||||||||||
By remaining maturity | Due in one | Due after one year through five years | Due after five years through 10 years | Due after | Total | |||||||||||||||||||||||
31-Dec-13 | year or less | 10 years(c) | ||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
Available-for-sale debt securities | ||||||||||||||||||||||||||||
Mortgage-backed securities(a) | ||||||||||||||||||||||||||||
Amortized cost | $ | 209 | $ | 13,689 | $ | 8,239 | $ | 131,282 | $ | 153,419 | ||||||||||||||||||
Fair value | 210 | 14,117 | 8,489 | 133,893 | 156,709 | |||||||||||||||||||||||
Average yield(b) | 2.17 | % | 2.1 | % | 2.83 | % | 2.93 | % | 2.85 | % | ||||||||||||||||||
U.S. Treasury and government agencies(a) | ||||||||||||||||||||||||||||
Amortized cost | $ | 8,781 | $ | 10,246 | $ | 1,425 | $ | 858 | $ | 21,310 | ||||||||||||||||||
Fair value | 8,792 | 10,257 | 1,425 | 915 | 21,389 | |||||||||||||||||||||||
Average yield(b) | 0.36 | % | 0.39 | % | 0.34 | % | 0.59 | % | 0.38 | % | ||||||||||||||||||
Obligations of U.S. states and municipalities | ||||||||||||||||||||||||||||
Amortized cost | $ | 57 | $ | 479 | $ | 1,644 | $ | 27,561 | $ | 29,741 | ||||||||||||||||||
Fair value | 58 | 505 | 1,664 | 27,234 | 29,461 | |||||||||||||||||||||||
Average yield(b) | 3.12 | % | 4.91 | % | 4.27 | % | 6.19 | % | 6.06 | % | ||||||||||||||||||
Certificates of deposit | ||||||||||||||||||||||||||||
Amortized cost | $ | 990 | $ | 51 | $ | — | $ | — | $ | 1,041 | ||||||||||||||||||
Fair value | 988 | 53 | — | — | 1,041 | |||||||||||||||||||||||
Average yield(b) | 6.37 | % | 3.28 | % | — | % | — | % | 6.22 | % | ||||||||||||||||||
Non-U.S. government debt securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 11,210 | $ | 16,999 | $ | 24,735 | $ | 2,563 | $ | 55,507 | ||||||||||||||||||
Fair value | 11,223 | 17,191 | 25,166 | 2,668 | 56,248 | |||||||||||||||||||||||
Average yield(b) | 2.72 | % | 2.26 | % | 1.39 | % | 1.64 | % | 1.94 | % | ||||||||||||||||||
Corporate debt securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 2,871 | $ | 12,318 | $ | 5,854 | $ | — | $ | 21,043 | ||||||||||||||||||
Fair value | 2,873 | 12,638 | 6,001 | — | 21,512 | |||||||||||||||||||||||
Average yield(b) | 1.94 | % | 2.41 | % | 2.6 | % | — | % | 2.4 | % | ||||||||||||||||||
Asset-backed securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 42 | $ | 2,412 | $ | 15,135 | $ | 22,603 | $ | 40,192 | ||||||||||||||||||
Fair value | 42 | 2,438 | 15,258 | 22,737 | 40,475 | |||||||||||||||||||||||
Average yield(b) | 2.17 | % | 1.98 | % | 1.74 | % | 1.8 | % | 1.79 | % | ||||||||||||||||||
Total available-for-sale debt securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 24,160 | $ | 56,194 | $ | 57,032 | $ | 184,867 | $ | 322,253 | ||||||||||||||||||
Fair value | 24,186 | 57,199 | 58,003 | 187,447 | 326,835 | |||||||||||||||||||||||
Average yield(b) | 1.91 | % | 1.93 | % | 1.87 | % | 3.25 | % | 2.67 | % | ||||||||||||||||||
Available-for-sale equity securities | ||||||||||||||||||||||||||||
Amortized cost | $ | — | $ | — | $ | — | $ | 3,125 | $ | 3,125 | ||||||||||||||||||
Fair value | — | — | — | 3,142 | 3,142 | |||||||||||||||||||||||
Average yield(b) | — | % | — | % | — | % | 0.2 | % | 0.2 | % | ||||||||||||||||||
Total available-for-sale securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 24,160 | $ | 56,194 | $ | 57,032 | $ | 187,992 | $ | 325,378 | ||||||||||||||||||
Fair value | 24,186 | 57,199 | 58,003 | 190,589 | 329,977 | |||||||||||||||||||||||
Average yield(b) | 1.91 | % | 1.93 | % | 1.87 | % | 3.2 | % | 2.65 | % | ||||||||||||||||||
Total held-to-maturity securities | ||||||||||||||||||||||||||||
Amortized cost | $ | — | $ | 3 | $ | 1 | $ | 24,022 | $ | 24,026 | ||||||||||||||||||
Fair value | — | 4 | 1 | 23,726 | 23,731 | |||||||||||||||||||||||
Average yield(b) | — | % | 6.86 | % | 6.48 | % | 3.53 | % | 3.53 | % | ||||||||||||||||||
(a) | U.S. government-sponsored enterprises were the only issuers whose securities exceeded 10% of JPMorgan Chase’s total stockholders’ equity at December 31, 2013. | |||||||||||||||||||||||||||
(b) | Average yield is computed using the effective yield of each security owned at the end of the period, weighted based on the amortized cost of each security. The effective yield considers the contractual coupon, amortization of premiums and accretion of discounts, and the effect of related hedging derivatives. Taxable-equivalent amounts are used where applicable. The effective yield excludes unscheduled principal prepayments; and accordingly, actual maturities of securities may differ from their contractual or expected maturities as certain securities may be prepaid. | |||||||||||||||||||||||||||
(c) | Includes securities with no stated maturity. Substantially all of the Firm’s residential mortgage-backed securities and collateralized mortgage obligations are due in 10 years or more, based on contractual maturity. The estimated duration, which reflects anticipated future prepayments based on a consensus of dealers in the market, is approximately five years for agency residential mortgage-backed securities, two years for agency residential collateralized mortgage obligations and three years for nonagency residential collateralized mortgage obligations. |
Securities_Financing_Activitie1
Securities Financing Activities (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Securities Financing Transactions Disclosures [Abstract] | ' | |||||||||||||||||||||||||||
Schedule of securities purchased under resale agreements, netting & securities borrowed | ' | |||||||||||||||||||||||||||
The following table presents as of December 31, 2013 and 2012, the gross and net securities purchased under resale agreements and securities borrowed. Securities purchased under resale agreements have been presented on the Consolidated Balance Sheets net of securities sold under repurchase agreements where the Firm has obtained an appropriate legal opinion with respect to the master netting agreement, and where the other relevant criteria have been met. Where such a legal opinion has not been either sought or obtained, the securities purchased under resale agreements are not eligible for netting and are shown separately in the table below. Securities borrowed are presented on a gross basis on the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
December 31, (in millions) | Gross asset balance | Amounts netted on the Consolidated Balance Sheets | Net asset balance | Gross asset balance | Amounts netted on the Consolidated Balance Sheets | Net asset balance | ||||||||||||||||||||||
Securities purchased under resale agreements | ||||||||||||||||||||||||||||
Securities purchased under resale agreements with an appropriate legal opinion | $ | 354,814 | $ | (115,408 | ) | $ | 239,406 | $ | 381,377 | $ | (96,947 | ) | $ | 284,430 | ||||||||||||||
Securities purchased under resale agreements where an appropriate legal opinion has not been either sought or obtained | 8,279 | 8,279 | 10,983 | 10,983 | ||||||||||||||||||||||||
Total securities purchased under resale agreements | $ | 363,093 | $ | (115,408 | ) | $ | 247,685 | (a) | $ | 392,360 | $ | (96,947 | ) | $ | 295,413 | (a) | ||||||||||||
Securities borrowed | $ | 111,465 | N/A | $ | 111,465 | (b)(c) | $ | 119,017 | N/A | $ | 119,017 | (b)(c) | ||||||||||||||||
(a) | At December 31, 2013 and 2012, included securities purchased under resale agreements of $25.1 billion and $24.3 billion, respectively, accounted for at fair value. | |||||||||||||||||||||||||||
(b) | At December 31, 2013 and 2012, included securities borrowed of $3.7 billion and $10.2 billion, respectively, accounted for at fair value. | |||||||||||||||||||||||||||
(c) | Included $26.9 billion and $28.4 billion at December 31, 2013 and 2012, respectively, of securities borrowed where an appropriate legal opinion has not been either sought or obtained with respect to the master netting agreement. The prior period amounts have been revised with a corresponding impact in the table below. This revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | |||||||||||||||||||||||||||
Schedule of securities purchased under resale agreements & securities borrowed collateral netting | ' | |||||||||||||||||||||||||||
The following table presents information as of December 31, 2013 and 2012, regarding the securities purchased under resale agreements and securities borrowed for which an appropriate legal opinion has been obtained with respect to the master netting agreement. The below table excludes information related to resale agreements and securities borrowed where such a legal opinion has not been either sought or obtained. | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
Amounts not nettable on the Consolidated Balance Sheets(a) | Amounts not nettable on the Consolidated Balance Sheets(a) | |||||||||||||||||||||||||||
December 31, (in millions) | Net asset balance | Financial instruments(b) | Cash collateral | Net exposure | Net asset balance | Financial instruments(b) | Cash collateral | Net exposure | ||||||||||||||||||||
Securities purchased under resale agreements with an appropriate legal opinion | $ | 239,406 | $ | (234,495 | ) | $ | (98 | ) | $ | 4,813 | $ | 284,430 | $ | (282,468 | ) | $ | (998 | ) | $ | 964 | ||||||||
Securities borrowed | $ | 84,531 | $ | (81,127 | ) | $ | — | $ | 3,404 | $ | 90,609 | $ | (87,651 | ) | $ | — | $ | 2,958 | ||||||||||
(a) | For some counterparties, the sum of the financial instruments and cash collateral not nettable on the Consolidated Balance Sheets may exceed the net asset balance. Where this is the case the total amounts reported in these two columns are limited to the balance of the net reverse repurchase agreement or securities borrowed asset with that counterparty. As a result a net exposure amount is reported even though the Firm, on an aggregate basis for its securities purchased under resale agreements and securities borrowed, has received securities collateral with a total fair value that is greater than the funds provided to counterparties. | |||||||||||||||||||||||||||
(b) | Includes financial instrument collateral received, repurchase liabilities and securities loaned liabilities with an appropriate legal opinion with respect to the master netting agreement; these amounts are not presented net on the Consolidated Balance Sheets because other U.S. GAAP netting criteria are not met. | |||||||||||||||||||||||||||
Schedule of securities sold under repurchase agreements, netting & securities loaned | ' | |||||||||||||||||||||||||||
The following table presents as of December 31, 2013 and 2012, the gross and net securities sold under repurchase agreements and securities loaned. Securities sold under repurchase agreements have been presented on the Consolidated Balance Sheets net of securities purchased under resale agreements where the Firm has obtained an appropriate legal opinion with respect to the master netting agreement, and where the other relevant criteria have been met. Where such a legal opinion has not been either sought or obtained, the securities sold under repurchase agreements are not eligible for netting and are shown separately in the table below. Securities loaned are presented on a gross basis on the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
December 31, (in millions) | Gross liability balance | Amounts netted on the Consolidated Balance Sheets | Net liability balance | Gross liability balance | Amounts netted on the Consolidated Balance Sheets | Net liability balance | ||||||||||||||||||||||
Securities sold under repurchase agreements | ||||||||||||||||||||||||||||
Securities sold under repurchase agreements with an appropriate legal opinion | $ | 261,265 | $ | (115,408 | ) | $ | 145,857 | $ | 301,352 | $ | (96,947 | ) | $ | 204,405 | ||||||||||||||
Securities sold under repurchase agreements where an appropriate legal opinion has not been either sought or obtained(a) | 14,508 | 14,508 | 11,155 | 11,155 | ||||||||||||||||||||||||
Total securities sold under repurchase agreements | $ | 275,773 | $ | (115,408 | ) | $ | 160,365 | (c) | $ | 312,507 | $ | (96,947 | ) | $ | 215,560 | (c) | ||||||||||||
Securities loaned(b) | $ | 25,769 | N/A | $ | 25,769 | (d)(e) | $ | 30,458 | N/A | $ | 30,458 | (d)(e) | ||||||||||||||||
(a) | Includes repurchase agreements that are not subject to a master netting agreement but do provide rights to collateral. | |||||||||||||||||||||||||||
(b) | Included securities-for-securities borrow vs. pledge transactions of $5.8 billion and $6.9 billion at December 31, 2013 and 2012, respectively, when acting as lender and as presented within other liabilities in the Consolidated Balance Sheets. | |||||||||||||||||||||||||||
(c) | At December 31, 2013 and 2012, included securities sold under repurchase agreements of $4.9 billion and $3.9 billion, respectively, accounted for at fair value. | |||||||||||||||||||||||||||
(d) | At December 31, 2013 and 2012, included securities loaned of $483 million and $457 million, respectively, accounted for at fair value. | |||||||||||||||||||||||||||
(e) | Included $397 million and $889 million at December 31, 2013 and 2012, respectively, of securities loaned where an appropriate legal opinion has not been either sought or obtained with respect to the master netting agreement. | |||||||||||||||||||||||||||
Schedule of securities sold under repurchase agreements & securities loaned collateral netting | ' | |||||||||||||||||||||||||||
The following table presents information as of December 31, 2013 and 2012, regarding the securities sold under repurchase agreements and securities loaned for which an appropriate legal opinion has been obtained with respect to the master netting agreement. The below table excludes information related to repurchase agreements and securities loaned where such a legal opinion has not been either sought or obtained. | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
Amounts not nettable on the Consolidated balance sheets(a) | Amounts not nettable on the Consolidated balance sheets(a) | |||||||||||||||||||||||||||
December 31, (in millions) | Net liability balance | Financial instruments(b) | Cash collateral | Net amount(c) | Net liability balance | Financial instruments(b) | Cash collateral | Net amount(c) | ||||||||||||||||||||
Securities sold under repurchase agreements with an appropriate legal opinion | $ | 145,857 | $ | (142,686 | ) | $ | (450 | ) | $ | 2,721 | $ | 204,405 | $ | (202,925 | ) | $ | (162 | ) | $ | 1,318 | ||||||||
Securities loaned | $ | 25,372 | $ | (25,125 | ) | $ | — | $ | 247 | $ | 29,569 | $ | (28,465 | ) | $ | — | $ | 1,104 | ||||||||||
(a) | For some counterparties the sum of the financial instruments and cash collateral not nettable on the Consolidated Balance Sheets may exceed the net liability balance. Where this is the case the total amounts reported in these two columns are limited to the balance of the net repurchase agreement or securities loaned liability with that counterparty. | |||||||||||||||||||||||||||
(b) | Includes financial instrument collateral transferred, reverse repurchase assets and securities borrowed assets with an appropriate legal opinion with respect to the master netting agreement; these amounts are not presented net on the Consolidated Balance Sheets because other U.S. GAAP netting criteria are not met. | |||||||||||||||||||||||||||
(c) | Net amount represents exposure of counterparties to the Firm. |
Loans_Tables
Loans (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loan portfolio segment descriptions | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loan portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||
The Firm’s loan portfolio is divided into three portfolio segments, which are the same segments used by the Firm to determine the allowance for loan losses: Consumer, excluding credit card; Credit card; and Wholesale. Within each portfolio segment, the Firm monitors and assesses the credit risk in the following classes of loans, based on the risk characteristics of each loan class: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer, excluding | Credit card | Wholesale(c) | ||||||||||||||||||||||||||||||||||||||||||||||||
credit card(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate – excluding PCI | • Credit card loans | • Commercial and industrial | ||||||||||||||||||||||||||||||||||||||||||||||||
• Home equity – senior lien | • Real estate | |||||||||||||||||||||||||||||||||||||||||||||||||
• Home equity – junior lien | • Financial institutions | |||||||||||||||||||||||||||||||||||||||||||||||||
• Prime mortgage, including | • Government agencies | |||||||||||||||||||||||||||||||||||||||||||||||||
option ARMs | • Other(d) | |||||||||||||||||||||||||||||||||||||||||||||||||
• Subprime mortgage | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other consumer loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
• Auto(b) | ||||||||||||||||||||||||||||||||||||||||||||||||||
• Business banking(b) | ||||||||||||||||||||||||||||||||||||||||||||||||||
• Student and other | ||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate – PCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
• Home equity | ||||||||||||||||||||||||||||||||||||||||||||||||||
• Prime mortgage | ||||||||||||||||||||||||||||||||||||||||||||||||||
• Subprime mortgage | ||||||||||||||||||||||||||||||||||||||||||||||||||
• Option ARMs | ||||||||||||||||||||||||||||||||||||||||||||||||||
(a) | Includes loans held in CCB, and prime mortgage loans held in the AM business segment and in Corporate/Private Equity. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Includes certain business banking and auto dealer risk-rated loans that apply the wholesale methodology for determining the allowance for loan losses; these loans are managed by CCB, and therefore, for consistency in presentation, are included with the other consumer loan classes. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | Includes loans held in CIB, CB and AM business segments and in Corporate/Private Equity. Classes are internally defined and may not align with regulatory definitions. | |||||||||||||||||||||||||||||||||||||||||||||||||
(d) | Other primarily includes loans to SPEs and loans to private banking clients. See Note 1 on pages 189–191 of this Annual Report for additional information on SPEs. | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of loans by portfolio segment | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the Firm’s loan balances by portfolio segment. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | Consumer, excluding credit card | Credit card(a) | Wholesale | Total | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Retained | $ | 288,449 | $ | 127,465 | $ | 308,263 | $ | 724,177 | (b) | |||||||||||||||||||||||||||||||||||||||||
Held-for-sale | 614 | 326 | 11,290 | 12,230 | ||||||||||||||||||||||||||||||||||||||||||||||
At fair value | — | — | 2,011 | 2,011 | ||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 289,063 | $ | 127,791 | $ | 321,564 | $ | 738,418 | ||||||||||||||||||||||||||||||||||||||||||
December 31, 2012 | Consumer, excluding credit card | Credit card(a) | Wholesale | Total | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Retained | $ | 292,620 | $ | 127,993 | $ | 306,222 | $ | 726,835 | (b) | |||||||||||||||||||||||||||||||||||||||||
Held-for-sale | — | — | 4,406 | 4,406 | ||||||||||||||||||||||||||||||||||||||||||||||
At fair value | — | — | 2,555 | 2,555 | ||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 292,620 | $ | 127,993 | $ | 313,183 | $ | 733,796 | ||||||||||||||||||||||||||||||||||||||||||
(a) | Includes billed finance charges and fees net of an allowance for uncollectible amounts. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Loans (other than PCI loans and those for which the fair value option has been elected) are presented net of unearned income, unamortized discounts and premiums, and net deferred loan costs of $1.9 billion and $2.5 billion at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of retained loans purchased, sold and reclassified to held-for-sale | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information about the carrying value of retained loans purchased, sold and reclassified to held-for-sale during the periods indicated. These tables exclude loans recorded at fair value. The Firm manages its exposure to credit risk on an ongoing basis. Selling loans is one way that the Firm reduces its credit exposures. | ||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Years ended December 31, | Consumer, excluding credit card | Credit card | Wholesale | Total | Consumer, excluding credit card | Credit card | Wholesale | Total | ||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchases | $ | 7,616 | (a)(b) | $ | 328 | $ | 697 | $ | 8,641 | $ | 6,601 | (a)(b) | $ | — | $ | 827 | $ | 7,428 | ||||||||||||||||||||||||||||||||
Sales | 4,845 | — | 4,232 | 9,077 | 1,852 | — | 3,423 | 5,275 | ||||||||||||||||||||||||||||||||||||||||||
Retained loans reclassified to held-for-sale | 1,261 | 309 | 5,641 | 7,211 | — | 1,043 | 504 | 1,547 | ||||||||||||||||||||||||||||||||||||||||||
(a) | Purchases predominantly represent the Firm’s voluntary repurchase of certain delinquent loans from loan pools as permitted by Ginnie Mae guidelines. The Firm typically elects to repurchase these delinquent loans as it continues to service them and/or manage the foreclosure process in accordance with applicable requirements of Ginnie Mae, the Federal Housing Administration (“FHA”), Rural Housing Services (“RHS”) and/or the U.S. Department of Veterans Affairs (“VA”). | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Excluded retained loans purchased from correspondents that were originated in accordance with the Firm’s underwriting standards. Such purchases were $5.7 billion and $1.4 billion for the years ended December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of gains/(losses) on loan sales by portfolio segment | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information about gains/(losses) on loan sales by portfolio segment. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, (in millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
Net gains/(losses) on sales of loans (including lower of cost or fair value adjustments)(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer, excluding credit card | $ | 313 | $ | 122 | $ | 131 | ||||||||||||||||||||||||||||||||||||||||||||
Credit card | 3 | (9 | ) | (24 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Wholesale | (76 | ) | 180 | 121 | ||||||||||||||||||||||||||||||||||||||||||||||
Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) | $ | 240 | $ | 293 | $ | 228 | ||||||||||||||||||||||||||||||||||||||||||||
(a) | Excludes sales related to loans accounted for at fair value. | |||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Credit-Impaired, Home Equity Junior Lien [Member] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of financing receivable credit quality indicators | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following tables set forth delinquency statistics for PCI junior lien home equity loans and lines of credit based on unpaid principal balance as of December 31, 2013 and 2012. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Delinquencies | Total 30+ day delinquency rate | |||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | 30–89 days past due | 90–149 days past due | 150+ days | Total loans | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | past due | |||||||||||||||||||||||||||||||||||||||||||||||||
HELOCs:(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Within the revolving period(b) | $ | 243 | $ | 88 | $ | 526 | $ | 12,670 | 6.76 | % | ||||||||||||||||||||||||||||||||||||||||
Beyond the revolving period(c) | 54 | 21 | 82 | 2,336 | 6.72 | |||||||||||||||||||||||||||||||||||||||||||||
HELOANs | 24 | 11 | 39 | 908 | 8.15 | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 321 | $ | 120 | $ | 647 | $ | 15,914 | 6.84 | % | ||||||||||||||||||||||||||||||||||||||||
Delinquencies | Total 30+ day delinquency rate | |||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | 30–89 days past due | 90–149 days past due | 150+ days | Total loans | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | past due | |||||||||||||||||||||||||||||||||||||||||||||||||
HELOCs:(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Within the revolving period(b) | $ | 361 | $ | 175 | $ | 591 | $ | 15,915 | 7.08 | % | ||||||||||||||||||||||||||||||||||||||||
Beyond the revolving period(c) | 30 | 13 | 20 | 666 | 9.46 | |||||||||||||||||||||||||||||||||||||||||||||
HELOANs | 37 | 18 | 44 | 1,085 | 9.12 | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 428 | $ | 206 | $ | 655 | $ | 17,666 | 7.3 | % | ||||||||||||||||||||||||||||||||||||||||
(a) | In general, these HELOCs are revolving loans for a 10-year period, after which time the HELOC converts to an interest-only loan with a balloon payment at the end of the loan’s term. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Substantially all undrawn HELOCs within the revolving period have been closed. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | Includes loans modified into fixed-rate amortizing loans. | |||||||||||||||||||||||||||||||||||||||||||||||||
Home equity - junior lien [Member] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of financing receivable credit quality indicators | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following tables represent the Firm’s delinquency statistics for junior lien home equity loans and lines as of December 31, 2013 and 2012. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Delinquencies | Total 30+ day delinquency rate | |||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | 30–89 days past due | 90–149 days past due | 150+ days | Total loans | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | past due | |||||||||||||||||||||||||||||||||||||||||||||||||
HELOCs:(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Within the revolving period(b) | $ | 341 | $ | 104 | $ | 162 | $ | 31,848 | 1.91 | % | ||||||||||||||||||||||||||||||||||||||||
Beyond the revolving period | 84 | 21 | 46 | 4,980 | 3.03 | |||||||||||||||||||||||||||||||||||||||||||||
HELOANs | 86 | 26 | 16 | 3,922 | 3.26 | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 511 | $ | 151 | $ | 224 | $ | 40,750 | 2.17 | % | ||||||||||||||||||||||||||||||||||||||||
Delinquencies | Total 30+ day delinquency rate | |||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | 30–89 days past due | 90–149 days past due | 150+ days | Total loans | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | past due | |||||||||||||||||||||||||||||||||||||||||||||||||
HELOCs:(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Within the revolving period(b) | $ | 514 | $ | 196 | $ | 185 | $ | 40,794 | 2.19 | % | ||||||||||||||||||||||||||||||||||||||||
Beyond the revolving period | 48 | 19 | 27 | 2,127 | 4.42 | |||||||||||||||||||||||||||||||||||||||||||||
HELOANs | 125 | 58 | 23 | 5,079 | 4.06 | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 687 | $ | 273 | $ | 235 | $ | 48,000 | 2.49 | % | ||||||||||||||||||||||||||||||||||||||||
(a) These HELOCs are predominantly revolving loans for a 10-year period, after which time the HELOC converts to a loan with a 20-year amortization period, but also include HELOCs originated by Washington Mutual that require interest-only payments beyond the revolving period. | ||||||||||||||||||||||||||||||||||||||||||||||||||
(b) The Firm manages the risk of HELOCs during their revolving period by closing or reducing the undrawn line to the extent permitted by law when borrowers are experiencing financial difficulty or when the collateral does not support the loan amount. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other Consumer [Member] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of financing receivable credit quality indicators | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The table below provides information for other consumer retained loan classes, including auto, business banking and student loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Auto | Business banking | Student and other | Total other consumer | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||
Loan delinquency(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current | $ | 52,152 | $ | 49,290 | $ | 18,511 | $ | 18,482 | $ | 10,529 | $ | 11,038 | $ | 81,192 | $ | 78,810 | ||||||||||||||||||||||||||||||||||
30–119 days past due | 599 | 616 | 280 | 263 | 660 | 709 | 1,539 | 1,588 | ||||||||||||||||||||||||||||||||||||||||||
120 or more days past due | 6 | 7 | 160 | 138 | 368 | 444 | 534 | 589 | ||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 52,757 | $ | 49,913 | $ | 18,951 | $ | 18,883 | $ | 11,557 | $ | 12,191 | $ | 83,265 | $ | 80,987 | ||||||||||||||||||||||||||||||||||
% of 30+ days past due to total retained loans | 1.15 | % | 1.25 | % | 2.32 | % | 2.12 | % | 2.52 | % | (d) | 2.12 | % | (d) | 1.6 | % | (d) | 1.58 | % | (d) | ||||||||||||||||||||||||||||||
90 or more days past due and still accruing (b) | $ | — | $ | — | $ | — | $ | — | $ | 428 | $ | 525 | $ | 428 | $ | 525 | ||||||||||||||||||||||||||||||||||
Nonaccrual loans | 161 | 163 | 385 | 481 | 86 | 70 | 632 | 714 | ||||||||||||||||||||||||||||||||||||||||||
Geographic region | ||||||||||||||||||||||||||||||||||||||||||||||||||
California | $ | 5,615 | $ | 4,962 | $ | 2,374 | $ | 1,983 | $ | 1,112 | $ | 1,108 | $ | 9,101 | $ | 8,053 | ||||||||||||||||||||||||||||||||||
New York | 3,898 | 3,742 | 3,084 | 2,981 | 1,218 | 1,202 | 8,200 | 7,925 | ||||||||||||||||||||||||||||||||||||||||||
Illinois | 2,917 | 2,738 | 1,341 | 1,404 | 740 | 748 | 4,998 | 4,890 | ||||||||||||||||||||||||||||||||||||||||||
Florida | 2,012 | 1,922 | 646 | 527 | 539 | 556 | 3,197 | 3,005 | ||||||||||||||||||||||||||||||||||||||||||
Texas | 5,310 | 4,739 | 2,646 | 2,749 | 878 | 891 | 8,834 | 8,379 | ||||||||||||||||||||||||||||||||||||||||||
New Jersey | 2,014 | 1,921 | 392 | 379 | 397 | 409 | 2,803 | 2,709 | ||||||||||||||||||||||||||||||||||||||||||
Arizona | 1,855 | 1,719 | 1,046 | 1,139 | 252 | 265 | 3,153 | 3,123 | ||||||||||||||||||||||||||||||||||||||||||
Washington | 950 | 824 | 234 | 202 | 227 | 287 | 1,411 | 1,313 | ||||||||||||||||||||||||||||||||||||||||||
Michigan | 1,902 | 2,091 | 1,383 | 1,368 | 513 | 548 | 3,798 | 4,007 | ||||||||||||||||||||||||||||||||||||||||||
Ohio | 2,229 | 2,462 | 1,316 | 1,443 | 708 | 770 | 4,253 | 4,675 | ||||||||||||||||||||||||||||||||||||||||||
All other | 24,055 | 22,793 | 4,489 | 4,708 | 4,973 | 5,407 | 33,517 | 32,908 | ||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 52,757 | $ | 49,913 | $ | 18,951 | $ | 18,883 | $ | 11,557 | $ | 12,191 | $ | 83,265 | $ | 80,987 | ||||||||||||||||||||||||||||||||||
Loans by risk ratings(c) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Noncriticized | $ | 9,968 | $ | 8,882 | $ | 13,622 | $ | 13,336 | NA | NA | $ | 23,590 | $ | 22,218 | ||||||||||||||||||||||||||||||||||||
Criticized performing | 54 | 130 | 711 | 713 | NA | NA | 765 | 843 | ||||||||||||||||||||||||||||||||||||||||||
Criticized nonaccrual | 38 | 4 | 316 | 386 | NA | NA | 354 | 390 | ||||||||||||||||||||||||||||||||||||||||||
(a) | Individual delinquency classifications included loans insured by U.S. government agencies under the Federal Family Education Loan Program (“FFELP”) as follows: current included $4.9 billion and $5.4 billion; 30-119 days past due included $387 million and $466 million; and 120 or more days past due included $350 million and $428 million at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | These amounts represent student loans, which are insured by U.S. government agencies under the FFELP. These amounts were accruing as reimbursement of insured amounts is proceeding normally. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | For risk-rated business banking and auto loans, the primary credit quality indicator is the risk rating of the loan, including whether the loans are considered to be criticized and/or nonaccrual. | |||||||||||||||||||||||||||||||||||||||||||||||||
(d) | December 31, 2013 and 2012, excluded loans 30 days or more past due and still accruing, which are insured by U.S. government agencies under the FFELP, of $737 million and $894 million, respectively. These amounts were excluded as reimbursement of insured amounts is proceeding normally. | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of impaired financing receivables | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The table below sets forth information about the Firm’s other consumer impaired loans, including risk-rated business banking and auto loans that have been placed on nonaccrual status, and loans that have been modified in TDRs. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Auto | Business banking | Total other consumer(c) | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
With an allowance | $ | 96 | $ | 78 | $ | 475 | $ | 543 | $ | 571 | $ | 621 | ||||||||||||||||||||||||||||||||||||||
Without an allowance(a) | 47 | 72 | — | — | 47 | 72 | ||||||||||||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 143 | $ | 150 | $ | 475 | $ | 543 | $ | 618 | $ | 693 | ||||||||||||||||||||||||||||||||||||||
Allowance for loan losses related to impaired loans | $ | 13 | $ | 12 | $ | 94 | $ | 126 | $ | 107 | $ | 138 | ||||||||||||||||||||||||||||||||||||||
Unpaid principal balance of impaired loans(b) | 235 | 259 | 553 | 624 | 788 | 883 | ||||||||||||||||||||||||||||||||||||||||||||
Impaired loans on nonaccrual status | 113 | 109 | 328 | 394 | 441 | 503 | ||||||||||||||||||||||||||||||||||||||||||||
(a) | When discounted cash flows, collateral value or market price equals or exceeds the recorded investment in the loan, the loan does not require an allowance. This typically occurs when the impaired loans have been partially charged off and/or there have been interest payments received and applied to the loan balance. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Represents the contractual amount of principal owed at December 31, 2013 and 2012. The unpaid principal balance differs from the impaired loan balances due to various factors, including charge-offs; interest payments received and applied to the principal balance; net deferred loan fees or costs; and unamortized discounts or premiums on purchased loans. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | There were no impaired student and other loans at December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of impaired financing receivables, average recorded investment | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents average impaired loans for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | Average impaired loans(b) | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
Auto | $ | 132 | $ | 111 | $ | 92 | ||||||||||||||||||||||||||||||||||||||||||||
Business banking | 516 | 622 | 760 | |||||||||||||||||||||||||||||||||||||||||||||||
Total other consumer(a) | $ | 648 | $ | 733 | $ | 852 | ||||||||||||||||||||||||||||||||||||||||||||
(a) | There were no impaired student and other loans for the years ended 2013, 2012 and 2011. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | The related interest income on impaired loans, including those on a cash basis, was not material for the years ended 2013, 2012 and 2011. | |||||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information about the Firm’s other consumer loans modified in TDRs. All of these TDRs are reported as impaired loans in the tables above. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Auto | Business banking | Total other consumer(c) | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||
Loans modified in troubled debt restructurings(a)(b) | $ | 107 | $ | 150 | $ | 271 | $ | 352 | $ | 378 | $ | 502 | ||||||||||||||||||||||||||||||||||||||
TDRs on nonaccrual status | 77 | 109 | 124 | 203 | 201 | 312 | ||||||||||||||||||||||||||||||||||||||||||||
(a) | These modifications generally provided interest rate concessions to the borrower or term or payment extensions. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Additional commitments to lend to borrowers whose loans have been modified in TDRs as of December 31, 2013 and 2012 were immaterial. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | There were no student and other loans modified in TDRs at December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables, Roll Forward [Table Text Block] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table reconciles the beginning and ending balances of other consumer loans modified in TDRs for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | Auto | Business banking | Total other consumer | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||
Beginning balance of TDRs | $ | 150 | $ | 88 | $ | 91 | $ | 352 | $ | 415 | $ | 395 | $ | 502 | $ | 503 | $ | 486 | ||||||||||||||||||||||||||||||||
New TDRs | 90 | 145 | 54 | 66 | 104 | 195 | 156 | 249 | 249 | |||||||||||||||||||||||||||||||||||||||||
Charge-offs post-modification | (10 | ) | (9 | ) | (5 | ) | (10 | ) | (9 | ) | (11 | ) | (20 | ) | (18 | ) | (16 | ) | ||||||||||||||||||||||||||||||||
Foreclosures and other liquidations | — | — | — | — | (1 | ) | (3 | ) | — | (1 | ) | (3 | ) | |||||||||||||||||||||||||||||||||||||
Principal payments and other | (123 | ) | (74 | ) | (52 | ) | (137 | ) | (157 | ) | (161 | ) | (260 | ) | (231 | ) | (213 | ) | ||||||||||||||||||||||||||||||||
Ending balance of TDRs | $ | 107 | $ | 150 | $ | 88 | $ | 271 | $ | 352 | $ | 415 | $ | 378 | $ | 502 | $ | 503 | ||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables, Financial Effects of Modifications and Redefaults [Table Text Block] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information about the financial effects of the various concessions granted in modifications of other consumer loans for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | Auto | Business banking | ||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 13.66 | % | 12.64 | % | 12.45 | % | 8.37 | % | 7.33 | % | 7.55 | % | ||||||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – after TDR | 4.94 | 4.83 | 5.7 | 6.05 | 5.49 | 5.52 | ||||||||||||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | NM | NM | NM | 1.1 | 1.4 | 1.4 | ||||||||||||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | NM | NM | NM | 3.1 | 2.4 | 2.6 | ||||||||||||||||||||||||||||||||||||||||||||
Credit card [Member] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of financing receivable credit quality indicators | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The table below sets forth information about the Firm’s credit card loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
As of or for the year ended December 31, | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net charge-offs | $ | 3,879 | $ | 4,944 | ||||||||||||||||||||||||||||||||||||||||||||||
% of net charge-offs to retained loans | 3.14 | % | 3.95 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Loan delinquency | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current and less than 30 days past due | $ | 125,335 | $ | 125,309 | ||||||||||||||||||||||||||||||||||||||||||||||
and still accruing | ||||||||||||||||||||||||||||||||||||||||||||||||||
30–89 days past due and still accruing | 1,108 | 1,381 | ||||||||||||||||||||||||||||||||||||||||||||||||
90 or more days past due and still accruing | 1,022 | 1,302 | ||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans | — | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total retained credit card loans | $ | 127,465 | $ | 127,993 | ||||||||||||||||||||||||||||||||||||||||||||||
Loan delinquency ratios | ||||||||||||||||||||||||||||||||||||||||||||||||||
% of 30+ days past due to total retained loans | 1.67 | % | 2.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||
% of 90+ days past due to total retained loans | 0.8 | 1.02 | ||||||||||||||||||||||||||||||||||||||||||||||||
Credit card loans by geographic region | ||||||||||||||||||||||||||||||||||||||||||||||||||
California | $ | 17,194 | $ | 17,115 | ||||||||||||||||||||||||||||||||||||||||||||||
New York | 10,497 | 10,379 | ||||||||||||||||||||||||||||||||||||||||||||||||
Texas | 10,400 | 10,209 | ||||||||||||||||||||||||||||||||||||||||||||||||
Illinois | 7,412 | 7,399 | ||||||||||||||||||||||||||||||||||||||||||||||||
Florida | 7,178 | 7,231 | ||||||||||||||||||||||||||||||||||||||||||||||||
New Jersey | 5,554 | 5,503 | ||||||||||||||||||||||||||||||||||||||||||||||||
Ohio | 4,881 | 4,956 | ||||||||||||||||||||||||||||||||||||||||||||||||
Pennsylvania | 4,462 | 4,549 | ||||||||||||||||||||||||||||||||||||||||||||||||
Michigan | 3,618 | 3,745 | ||||||||||||||||||||||||||||||||||||||||||||||||
Virginia | 3,239 | 3,193 | ||||||||||||||||||||||||||||||||||||||||||||||||
All other | 53,030 | 53,714 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total retained credit card loans | $ | 127,465 | $ | 127,993 | ||||||||||||||||||||||||||||||||||||||||||||||
Percentage of portfolio based on carrying value with estimated refreshed FICO scores | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 85.1 | % | 84.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Less than 660 | 14.9 | 15.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of impaired financing receivables | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The table below sets forth information about the Firm’s impaired credit card loans. All of these loans are considered to be impaired as they have been modified in TDRs. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, (in millions) | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Impaired credit card loans with an allowance(a)(b) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Credit card loans with modified payment terms(c) | $ | 2,746 | $ | 4,189 | ||||||||||||||||||||||||||||||||||||||||||||||
Modified credit card loans that have reverted to pre-modification payment terms(d) | 369 | 573 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total impaired | $ | 3,115 | $ | 4,762 | ||||||||||||||||||||||||||||||||||||||||||||||
credit card loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses related to impaired | $ | 971 | $ | 1,681 | ||||||||||||||||||||||||||||||||||||||||||||||
credit card loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
(a) | The carrying value and the unpaid principal balance are the same for credit card impaired loans. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | There were no impaired loans without an allowance. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | Represents credit card loans outstanding to borrowers enrolled in a credit card modification program as of the date presented. | |||||||||||||||||||||||||||||||||||||||||||||||||
(d) | Represents credit card loans that were modified in TDRs but that have subsequently reverted back to the loans’ pre-modification payment terms. At December 31, 2013 and 2012, $226 million and $341 million, respectively, of loans have reverted back to the pre-modification payment terms of the loans due to noncompliance with the terms of the modified loans. The remaining $143 million and $232 million at December 31, 2013 and 2012, respectively, of these loans are to borrowers who have successfully completed a short-term modification program. The Firm continues to report these loans as TDRs since the borrowers’ credit lines remain closed. | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of impaired financing receivables, average recorded investment | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents average balances of impaired credit card loans and interest income recognized on those loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Average impaired credit card loans | $ | 3,882 | $ | 5,893 | $ | 8,499 | ||||||||||||||||||||||||||||||||||||||||||||
Interest income on | 198 | 308 | 463 | |||||||||||||||||||||||||||||||||||||||||||||||
impaired credit card loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information regarding the nature and extent of modifications of credit card loans for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | New enrollments | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
Short-term programs | $ | — | $ | 47 | $ | 167 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term programs | 1,180 | 1,607 | 2,523 | |||||||||||||||||||||||||||||||||||||||||||||||
Total new enrollments | $ | 1,180 | $ | 1,654 | $ | 2,690 | ||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables, Financial Effects of Modifications and Redefaults [Table Text Block] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information about the financial effects of the concessions granted on credit card loans modified in TDRs and redefaults for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except | ||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average data) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans – before TDR | 15.37 | % | 15.67 | % | 16.05 | % | ||||||||||||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans – after TDR | 4.38 | 5.19 | 5.28 | |||||||||||||||||||||||||||||||||||||||||||||||
Loans that redefaulted within one year of modification(a) | $ | 167 | $ | 309 | $ | 687 | ||||||||||||||||||||||||||||||||||||||||||||
(a) | Represents loans modified in TDRs that experienced a payment default in the periods presented, and for which the payment default occurred within one year of the modification. The amounts presented represent the balance of such loans as of the end of the quarter in which they defaulted | |||||||||||||||||||||||||||||||||||||||||||||||||
Consumer, excluding credit card [Member] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of loans by portfolio segment | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The table below provides information about retained consumer loans, excluding credit card, by class. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, (in millions) | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate – excluding PCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Senior lien | $ | 17,113 | $ | 19,385 | ||||||||||||||||||||||||||||||||||||||||||||||
Junior lien | 40,750 | 48,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Mortgages: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Prime, including option ARMs | 87,162 | 76,256 | ||||||||||||||||||||||||||||||||||||||||||||||||
Subprime | 7,104 | 8,255 | ||||||||||||||||||||||||||||||||||||||||||||||||
Other consumer loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Auto | 52,757 | 49,913 | ||||||||||||||||||||||||||||||||||||||||||||||||
Business banking | 18,951 | 18,883 | ||||||||||||||||||||||||||||||||||||||||||||||||
Student and other | 11,557 | 12,191 | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate – PCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity | 18,927 | 20,971 | ||||||||||||||||||||||||||||||||||||||||||||||||
Prime mortgage | 12,038 | 13,674 | ||||||||||||||||||||||||||||||||||||||||||||||||
Subprime mortgage | 4,175 | 4,626 | ||||||||||||||||||||||||||||||||||||||||||||||||
Option ARMs | 17,915 | 20,466 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 288,449 | $ | 292,620 | ||||||||||||||||||||||||||||||||||||||||||||||
Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of financing receivable credit quality indicators | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information by class for residential real estate – excluding retained PCI loans in the consumer, excluding credit card, portfolio segment. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following factors should be considered in analyzing certain credit statistics applicable to the Firm’s residential real estate – excluding PCI loans portfolio: (i) junior lien home equity loans may be fully charged off when the loan becomes 180 days past due, and the value of the collateral does not support the repayment of the loan, resulting in relatively high charge-off rates for this product class; and (ii) the lengthening of loss-mitigation timelines may result in higher delinquency rates for loans carried at the net realizable value of the collateral that remain on the Firm’s Consolidated Balance Sheets. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate – excluding PCI loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Senior lien | Junior lien | ||||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
Loan delinquency(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current | $ | 16,470 | $ | 18,688 | $ | 39,864 | $ | 46,805 | ||||||||||||||||||||||||||||||||||||||||||
30–149 days past due | 298 | 330 | 662 | 960 | ||||||||||||||||||||||||||||||||||||||||||||||
150 or more days past due | 345 | 367 | 224 | 235 | ||||||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 17,113 | $ | 19,385 | $ | 40,750 | $ | 48,000 | ||||||||||||||||||||||||||||||||||||||||||
% of 30+ days past due to total retained loans | 3.76 | % | 3.6 | % | 2.17 | % | 2.49 | % | ||||||||||||||||||||||||||||||||||||||||||
90 or more days past due and still accruing | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||
90 or more days past due and government guaranteed(b) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans | 932 | 931 | 1,876 | 2,277 | ||||||||||||||||||||||||||||||||||||||||||||||
Current estimated LTV ratios(c)(d)(e) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Greater than 125% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | $ | 40 | $ | 197 | $ | 1,101 | $ | 4,561 | ||||||||||||||||||||||||||||||||||||||||||
Less than 660 | 22 | 93 | 346 | 1,338 | ||||||||||||||||||||||||||||||||||||||||||||||
101% to 125% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 212 | 491 | 4,645 | 7,089 | ||||||||||||||||||||||||||||||||||||||||||||||
Less than 660 | 107 | 191 | 1,407 | 1,971 | ||||||||||||||||||||||||||||||||||||||||||||||
80% to 100% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 858 | 1,502 | 7,995 | 9,604 | ||||||||||||||||||||||||||||||||||||||||||||||
Less than 660 | 326 | 485 | 2,128 | 2,279 | ||||||||||||||||||||||||||||||||||||||||||||||
Less than 80% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 13,186 | 13,988 | 19,732 | 18,252 | ||||||||||||||||||||||||||||||||||||||||||||||
Less than 660 | 2,362 | 2,438 | 3,396 | 2,906 | ||||||||||||||||||||||||||||||||||||||||||||||
U.S. government-guaranteed | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 17,113 | $ | 19,385 | $ | 40,750 | $ | 48,000 | ||||||||||||||||||||||||||||||||||||||||||
Geographic region | ||||||||||||||||||||||||||||||||||||||||||||||||||
California | $ | 2,397 | $ | 2,786 | $ | 9,240 | $ | 10,969 | ||||||||||||||||||||||||||||||||||||||||||
New York | 2,732 | 2,847 | 8,429 | 9,753 | ||||||||||||||||||||||||||||||||||||||||||||||
Illinois | 1,248 | 1,358 | 2,815 | 3,265 | ||||||||||||||||||||||||||||||||||||||||||||||
Florida | 847 | 892 | 2,167 | 2,572 | ||||||||||||||||||||||||||||||||||||||||||||||
Texas | 2,044 | 2,508 | 1,199 | 1,503 | ||||||||||||||||||||||||||||||||||||||||||||||
New Jersey | 630 | 652 | 2,442 | 2,838 | ||||||||||||||||||||||||||||||||||||||||||||||
Arizona | 1,019 | 1,183 | 1,827 | 2,151 | ||||||||||||||||||||||||||||||||||||||||||||||
Washington | 555 | 651 | 1,378 | 1,629 | ||||||||||||||||||||||||||||||||||||||||||||||
Michigan | 799 | 910 | 976 | 1,169 | ||||||||||||||||||||||||||||||||||||||||||||||
Ohio | 1,298 | 1,514 | 907 | 1,091 | ||||||||||||||||||||||||||||||||||||||||||||||
All other(f) | 3,544 | 4,084 | 9,370 | 11,060 | ||||||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 17,113 | $ | 19,385 | $ | 40,750 | $ | 48,000 | ||||||||||||||||||||||||||||||||||||||||||
(a) | Individual delinquency classifications included mortgage loans insured by U.S. government agencies as follows: current included $4.7 billion and $3.8 billion; 30–149 days past due included $2.4 billion and $2.3 billion; and 150 or more days past due included $6.6 billion and $9.5 billion at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | These balances, which are 90 days or more past due but insured by U.S. government agencies, are excluded from nonaccrual loans. In predominantly all cases, 100% of the principal balance of the loans is insured and interest is guaranteed at a specified reimbursement rate subject to meeting agreed-upon servicing guidelines. These amounts have been excluded from nonaccrual loans based upon the government guarantee. At December 31, 2013 and 2012, these balances included $4.7 billion and $6.8 billion, respectively, of loans that are no longer accruing interest because interest has been curtailed by the U.S. government agencies although, in predominantly all cases, 100% of the principal is still insured. For the remaining balance, interest is being accrued at the guaranteed reimbursement rate. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | Represents the aggregate unpaid principal balance of loans divided by the estimated current property value. Current property values are estimated, at a minimum, quarterly, based on home valuation models using nationally recognized home price index valuation estimates incorporating actual data to the extent available and forecasted data where actual data is not available. These property values do not represent actual appraised loan level collateral values; as such, the resulting ratios are necessarily imprecise and should be viewed as estimates. | |||||||||||||||||||||||||||||||||||||||||||||||||
(d) | Junior lien represents combined LTV, which considers all available lien positions, as well as unused lines, related to the property. All other products are presented without consideration of subordinate liens on the property. | |||||||||||||||||||||||||||||||||||||||||||||||||
(e) | Refreshed FICO scores represent each borrower’s most recent credit score, which is obtained by the Firm on at least a quarterly basis. | |||||||||||||||||||||||||||||||||||||||||||||||||
(f) | At December 31, 2013 and 2012, included mortgage loans insured by U.S. government agencies of $13.7 billion and $15.6 billion, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||
(g) | At December 31, 2013 and 2012, excluded mortgage loans insured by U.S. government agencies of $9.0 billion and $11.8 billion, respectively. These amounts have been excluded from nonaccrual loans based upon the government guarantee. | |||||||||||||||||||||||||||||||||||||||||||||||||
(table continued from previous page) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgages | ||||||||||||||||||||||||||||||||||||||||||||||||||
Prime, including option ARMs | Subprime | Total residential real estate – excluding PCI | ||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||
$ | 76,108 | $ | 61,439 | $ | 5,956 | $ | 6,673 | $ | 138,398 | $ | 133,605 | |||||||||||||||||||||||||||||||||||||||
3,155 | 3,237 | 646 | 727 | 4,761 | 5,254 | |||||||||||||||||||||||||||||||||||||||||||||
7,899 | 11,580 | 502 | 855 | 8,970 | 13,037 | |||||||||||||||||||||||||||||||||||||||||||||
$ | 87,162 | $ | 76,256 | $ | 7,104 | $ | 8,255 | $ | 152,129 | $ | 151,896 | |||||||||||||||||||||||||||||||||||||||
2.32 | % | (g) | 3.97 | % | (g) | 16.16 | % | 19.16 | % | 3.09 | % | (g) | 4.28 | % | (g) | |||||||||||||||||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||
7,823 | 10,625 | — | — | 7,823 | 10,625 | |||||||||||||||||||||||||||||||||||||||||||||
2,666 | 3,445 | 1,390 | 1,807 | 6,864 | 8,460 | |||||||||||||||||||||||||||||||||||||||||||||
$ | 1,084 | $ | 2,573 | $ | 52 | $ | 236 | $ | 2,277 | $ | 7,567 | |||||||||||||||||||||||||||||||||||||||
303 | 991 | 197 | 653 | 868 | 3,075 | |||||||||||||||||||||||||||||||||||||||||||||
1,433 | 3,697 | 249 | 457 | 6,539 | 11,734 | |||||||||||||||||||||||||||||||||||||||||||||
687 | 1,376 | 597 | 985 | 2,798 | 4,523 | |||||||||||||||||||||||||||||||||||||||||||||
4,528 | 7,070 | 614 | 726 | 13,995 | 18,902 | |||||||||||||||||||||||||||||||||||||||||||||
1,579 | 2,117 | 1,141 | 1,346 | 5,174 | 6,227 | |||||||||||||||||||||||||||||||||||||||||||||
58,477 | 38,281 | 1,961 | 1,793 | 93,356 | 72,314 | |||||||||||||||||||||||||||||||||||||||||||||
5,359 | 4,549 | 2,293 | 2,059 | 13,410 | 11,952 | |||||||||||||||||||||||||||||||||||||||||||||
13,712 | 15,602 | — | — | 13,712 | 15,602 | |||||||||||||||||||||||||||||||||||||||||||||
$ | 87,162 | $ | 76,256 | $ | 7,104 | $ | 8,255 | $ | 152,129 | $ | 151,896 | |||||||||||||||||||||||||||||||||||||||
$ | 21,876 | $ | 17,539 | $ | 1,069 | $ | 1,240 | $ | 34,582 | $ | 32,534 | |||||||||||||||||||||||||||||||||||||||
14,085 | 11,190 | 942 | 1,081 | 26,188 | 24,871 | |||||||||||||||||||||||||||||||||||||||||||||
5,216 | 3,999 | 280 | 323 | 9,559 | 8,945 | |||||||||||||||||||||||||||||||||||||||||||||
4,598 | 4,372 | 885 | 1,031 | 8,497 | 8,867 | |||||||||||||||||||||||||||||||||||||||||||||
3,565 | 2,927 | 220 | 257 | 7,028 | 7,195 | |||||||||||||||||||||||||||||||||||||||||||||
2,679 | 2,131 | 339 | 399 | 6,090 | 6,020 | |||||||||||||||||||||||||||||||||||||||||||||
1,385 | 1,162 | 144 | 165 | 4,375 | 4,661 | |||||||||||||||||||||||||||||||||||||||||||||
1,951 | 1,741 | 150 | 177 | 4,034 | 4,198 | |||||||||||||||||||||||||||||||||||||||||||||
998 | 866 | 178 | 203 | 2,951 | 3,148 | |||||||||||||||||||||||||||||||||||||||||||||
466 | 405 | 161 | 191 | 2,832 | 3,201 | |||||||||||||||||||||||||||||||||||||||||||||
30,343 | 29,924 | 2,736 | 3,188 | 45,993 | 48,256 | |||||||||||||||||||||||||||||||||||||||||||||
$ | 87,162 | $ | 76,256 | $ | 7,104 | $ | 8,255 | $ | 152,129 | $ | 151,896 | |||||||||||||||||||||||||||||||||||||||
Schedule of impaired financing receivables | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The table below sets forth information about the Firm’s residential real estate impaired loans, excluding PCI loans. These loans are considered to be impaired as they have been modified in a TDR. All impaired loans are evaluated for an asset-specific allowance as described in Note 15 on pages 284–287 of this Annual Report. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity | Mortgages | Total residential | ||||||||||||||||||||||||||||||||||||||||||||||||
real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Senior lien | Junior lien | Prime, including | Subprime | – excluding PCI | |||||||||||||||||||||||||||||||||||||||||||||
(in millions) | option ARMs | |||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
With an allowance | $ | 567 | $ | 542 | $ | 727 | $ | 677 | $ | 5,871 | $ | 5,810 | $ | 2,989 | $ | 3,071 | $ | 10,154 | $ | 10,100 | ||||||||||||||||||||||||||||||
Without an allowance(a) | 579 | 550 | 592 | 546 | 1,133 | 1,308 | 709 | 741 | 3,013 | 3,145 | ||||||||||||||||||||||||||||||||||||||||
Total impaired loans(b) | $ | 1,146 | $ | 1,092 | $ | 1,319 | $ | 1,223 | $ | 7,004 | $ | 7,118 | $ | 3,698 | $ | 3,812 | $ | 13,167 | $ | 13,245 | ||||||||||||||||||||||||||||||
Allowance for loan losses related to impaired loans | $ | 94 | $ | 159 | $ | 162 | $ | 188 | $ | 144 | $ | 70 | $ | 94 | $ | 174 | $ | 494 | $ | 591 | ||||||||||||||||||||||||||||||
Unpaid principal balance of impaired loans(c) | 1,515 | 1,408 | 2,625 | 2,352 | 8,990 | 9,095 | 5,461 | 5,700 | 18,591 | 18,555 | ||||||||||||||||||||||||||||||||||||||||
Impaired loans on nonaccrual status(d) | 641 | 607 | 666 | 599 | 1,737 | 1,888 | 1,127 | 1,308 | 4,171 | 4,402 | ||||||||||||||||||||||||||||||||||||||||
(a) | Represents collateral-dependent residential mortgage loans that are charged off to the fair value of the underlying collateral less cost to sell. The Firm reports, in accordance with regulatory guidance, residential real estate loans that have been discharged under Chapter 7 bankruptcy and not reaffirmed by the borrower (“Chapter 7 loans”) as collateral-dependent nonaccrual TDRs, regardless of their delinquency status. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | At December 31, 2013 and 2012, $7.6 billion and $7.5 billion, respectively, of loans modified subsequent to repurchase from Government National Mortgage Association (“Ginnie Mae”) in accordance with the standards of the appropriate government agency (i.e., FHA, VA, RHS) are not included in the table above. When such loans perform subsequent to modification in accordance with Ginnie Mae guidelines, they are generally sold back into Ginnie Mae loan pools. Modified loans that do not re-perform become subject to foreclosure. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | Represents the contractual amount of principal owed at December 31, 2013 and 2012. The unpaid principal balance differs from the impaired loan balances due to various factors, including charge-offs, net deferred loan fees or costs; and unamortized discounts or premiums on purchased loans. | |||||||||||||||||||||||||||||||||||||||||||||||||
(d) | As of December 31, 2013 and 2012, nonaccrual loans included $3.0 billion and $2.9 billion, respectively, of TDRs for which the borrowers were less than 90 days past due. For additional information about loans modified in a TDR that are on nonaccrual status refer to the Loan accounting framework on pages 258–260 of this Note. | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of impaired financing receivables, average recorded investment | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents average impaired loans and the related interest income reported by the Firm. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | Average impaired loans | Interest income on | Interest income on impaired | |||||||||||||||||||||||||||||||||||||||||||||||
impaired loans(a) | loans on a cash basis(a) | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||
Home equity | ||||||||||||||||||||||||||||||||||||||||||||||||||
Senior lien | $ | 1,151 | $ | 610 | $ | 287 | $ | 59 | $ | 27 | $ | 10 | $ | 40 | $ | 12 | $ | 1 | ||||||||||||||||||||||||||||||||
Junior lien | 1,297 | 848 | 521 | 82 | 42 | 18 | 55 | 16 | 2 | |||||||||||||||||||||||||||||||||||||||||
Mortgages | ||||||||||||||||||||||||||||||||||||||||||||||||||
Prime, including option ARMs | 7,214 | 5,989 | 3,859 | 280 | 238 | 147 | 59 | 28 | 14 | |||||||||||||||||||||||||||||||||||||||||
Subprime | 3,798 | 3,494 | 3,083 | 200 | 183 | 148 | 55 | 31 | 16 | |||||||||||||||||||||||||||||||||||||||||
Total residential real estate – excluding PCI | $ | 13,460 | $ | 10,941 | $ | 7,750 | $ | 621 | $ | 490 | $ | 323 | $ | 209 | $ | 87 | $ | 33 | ||||||||||||||||||||||||||||||||
(a) | Generally, interest income on loans modified in TDRs is recognized on a cash basis until such time as the borrower has made a minimum of six payments under the new terms. | |||||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables, Roll Forward [Table Text Block] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table reconciles the beginning and ending balances of residential real estate loans, excluding PCI loans, modified in TDRs for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | Home equity | Mortgages | Total residential real estate – excluding PCI | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Senior lien | Junior lien | Prime, including | Subprime | ||||||||||||||||||||||||||||||||||||||||||||||
option ARMs | ||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||
Beginning balance of TDRs | $ | 1,092 | $ | 335 | $ | 226 | $ | 1,223 | $ | 657 | $ | 283 | $ | 7,118 | $ | 4,877 | $ | 2,084 | $ | 3,812 | $ | 3,219 | $ | 2,751 | $ | 13,245 | $ | 9,088 | $ | 5,344 | ||||||||||||||||||||
New TDRs | 210 | 835 | 138 | 388 | 711 | 518 | 770 | 2,918 | 3,268 | 319 | 1,043 | 883 | 1,687 | 5,507 | 4,807 | |||||||||||||||||||||||||||||||||||
Charge-offs post-modification(a) | (31 | ) | (31 | ) | (15 | ) | (100 | ) | (2 | ) | (78 | ) | (51 | ) | (135 | ) | (119 | ) | (93 | ) | (208 | ) | (234 | ) | (275 | ) | (376 | ) | (446 | ) | ||||||||||||||||||||
Foreclosures and other liquidations (e.g., short sales) | (18 | ) | (5 | ) | — | (24 | ) | (21 | ) | (11 | ) | (145 | ) | (138 | ) | (108 | ) | (73 | ) | (113 | ) | (82 | ) | (260 | ) | (277 | ) | (201 | ) | |||||||||||||||||||||
Principal payments and other | (107 | ) | (42 | ) | (14 | ) | (168 | ) | (122 | ) | (55 | ) | (688 | ) | (404 | ) | (248 | ) | (267 | ) | (129 | ) | (99 | ) | (1,230 | ) | (697 | ) | (416 | ) | ||||||||||||||||||||
Ending balance of TDRs | $ | 1,146 | $ | 1,092 | $ | 335 | $ | 1,319 | $ | 1,223 | $ | 657 | $ | 7,004 | $ | 7,118 | $ | 4,877 | $ | 3,698 | $ | 3,812 | $ | 3,219 | $ | 13,167 | $ | 13,245 | $ | 9,088 | ||||||||||||||||||||
Permanent modifications | $ | 1,107 | $ | 1,058 | $ | 285 | $ | 1,313 | $ | 1,218 | $ | 634 | $ | 6,838 | $ | 6,834 | $ | 4,601 | $ | 3,596 | $ | 3,661 | $ | 3,029 | $ | 12,854 | $ | 12,771 | $ | 8,549 | ||||||||||||||||||||
Trial modifications | $ | 39 | $ | 34 | $ | 50 | $ | 6 | $ | 5 | $ | 23 | $ | 166 | $ | 284 | $ | 276 | $ | 102 | $ | 151 | $ | 190 | $ | 313 | $ | 474 | $ | 539 | ||||||||||||||||||||
(a) | Includes charge-offs on unsuccessful trial modifications. | |||||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables, Nature and Extent of Modifications [Table Text Block] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information about how residential real estate loans, excluding PCI loans, were modified under the Firm’s loss mitigation programs during the periods presented. This table excludes Chapter 7 loans where the sole concession granted is the discharge of debt. At December 31, 2013, there were approximately 36,700 of such Chapter 7 loans, consisting of approximately 8,800 senior lien home equity loans, 21,700 junior lien home equity loans, 3,100 prime mortgage, including option ARMs, and 3,100 subprime mortgages. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended Dec. 31, | Home equity | Mortgages | Total residential real estate | |||||||||||||||||||||||||||||||||||||||||||||||
Senior lien | Junior lien | Prime, including | Subprime | - excluding PCI | ||||||||||||||||||||||||||||||||||||||||||||||
option ARMs | ||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||
Number | 1,719 | 1,695 | 1,219 | 884 | 918 | 1,308 | 2,846 | 3,895 | 4,676 | 4,233 | 4,841 | 6,446 | 9,682 | 11,349 | 13,649 | |||||||||||||||||||||||||||||||||||
of loans approved | ||||||||||||||||||||||||||||||||||||||||||||||||||
for a trial modification(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Number | 1,765 | 4,385 | 1,006 | 5,040 | 7,430 | 9,142 | 4,356 | 9,043 | 9,579 | 5,364 | 9,964 | 4,972 | 16,525 | 30,822 | 24,699 | |||||||||||||||||||||||||||||||||||
of loans permanently modified | ||||||||||||||||||||||||||||||||||||||||||||||||||
Concession granted:(a)(b) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate reduction | 70 | % | 83 | % | 80 | % | 88 | % | 88 | % | 95 | % | 73 | % | 74 | % | 53 | % | 72 | % | 69 | % | 80 | % | 77 | % | 77 | % | 75 | % | ||||||||||||||||||||
Term or payment extension | 76 | 47 | 88 | 80 | 76 | 81 | 73 | 57 | 71 | 56 | 41 | 72 | 70 | 55 | 75 | |||||||||||||||||||||||||||||||||||
Principal and/or interest deferred | 12 | 6 | 10 | 24 | 17 | 21 | 30 | 16 | 17 | 13 | 7 | 19 | 21 | 12 | 19 | |||||||||||||||||||||||||||||||||||
Principal forgiveness | 38 | 11 | 7 | 32 | 23 | 20 | 38 | 29 | 2 | 48 | 42 | 13 | 39 | 29 | 11 | |||||||||||||||||||||||||||||||||||
Other(c) | — | — | 29 | — | — | 7 | 23 | 29 | 68 | 14 | 8 | 26 | 11 | 11 | 35 | |||||||||||||||||||||||||||||||||||
(a) | Prior period amounts have been revised to conform with the current presentation. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Represents concessions granted in permanent modifications as a percentage of the number of loans permanently modified. The sum of the percentages exceeds 100% because predominantly all of the modifications include more than one type of concession. A significant portion of trial modifications include interest rate reductions and/or term or payment extensions. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | Represents variable interest rate to fixed interest rate modifications. | |||||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables, Financial Effects of Modifications and Redefaults [Table Text Block] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information about the financial effects of the various concessions granted in modifications of residential real estate loans, excluding PCI, under the Firm’s loss mitigation programs and about redefaults of certain loans modified in TDRs for the periods presented. Because the specific types and amounts of concessions offered to borrowers frequently change between the trial modification and the permanent modification, the following tables present only the financial effects of permanent modifications. These tables also exclude Chapter 7 loans where the sole concession granted is the discharge of debt. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended | Home equity | Mortgages | Total residential real estate – excluding PCI | |||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Senior lien | Junior lien | Prime, including | Subprime | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except weighted-average data and number of loans) | option ARMs | |||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 6.35 | % | 7.2 | % | 7.25 | % | 5.05 | % | 5.45 | % | 5.46 | % | 5.28 | % | 6.14 | % | 5.98 | % | 7.33 | % | 7.73 | % | 8.25 | % | 5.88 | % | 6.57 | % | 6.44 | % | ||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – after TDR | 3.23 | 4.61 | 3.51 | 2.14 | 1.94 | 1.49 | 2.77 | 3.67 | 3.34 | 3.52 | 4.14 | 3.46 | 2.92 | 3.69 | 3.09 | |||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 19 | 18 | 18 | 20 | 20 | 21 | 25 | 25 | 25 | 24 | 24 | 23 | 23 | 24 | 24 | |||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 31 | 28 | 30 | 34 | 32 | 34 | 37 | 36 | 35 | 35 | 32 | 34 | 36 | 34 | 35 | |||||||||||||||||||||||||||||||||||
Charge-offs recognized upon permanent modification | $ | 7 | $ | 8 | $ | 1 | $ | 70 | $ | 65 | $ | 117 | $ | 16 | $ | 35 | $ | 61 | $ | 5 | $ | 29 | $ | 19 | $ | 98 | $ | 137 | $ | 198 | ||||||||||||||||||||
Principal deferred | 7 | 4 | 4 | 24 | 23 | 35 | 129 | 133 | 167 | 43 | 43 | 61 | 203 | 203 | 267 | |||||||||||||||||||||||||||||||||||
Principal forgiven | 30 | 20 | 1 | 51 | 58 | 62 | 206 | 249 | 20 | 218 | 324 | 46 | 505 | 651 | 129 | |||||||||||||||||||||||||||||||||||
Number of loans that redefaulted within one year of permanent modification(a) | 404 | 374 | 222 | 1,069 | 1,436 | 1,310 | 673 | 920 | 1,142 | 1,072 | 1,426 | 1,989 | 3,218 | 4,156 | 4,663 | |||||||||||||||||||||||||||||||||||
Balance of loans that redefaulted within one year of permanent modification(a) | $ | 26 | $ | 30 | $ | 18 | $ | 20 | $ | 46 | $ | 52 | $ | 164 | $ | 255 | $ | 340 | $ | 106 | $ | 156 | $ | 281 | $ | 316 | $ | 487 | $ | 691 | ||||||||||||||||||||
(a) | Represents loans permanently modified in TDRs that experienced a payment default in the periods presented, and for which the payment default occurred within one year of the modification. The dollar amounts presented represent the balance of such loans at the end of the reporting period in which such loans defaulted. For residential real estate loans modified in TDRs, payment default is deemed to occur when the loan becomes two contractual payments past due. In the event that a modified loan redefaults, it is probable that the loan will ultimately be liquidated through foreclosure or another similar type of liquidation transaction. Redefaults of loans modified within the last 12 months may not be representative of ultimate redefault levels. | |||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale-related [Member] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of financing receivable credit quality indicators | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
(table continued from previous page) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Financial | Government agencies | Other(d) | Total | |||||||||||||||||||||||||||||||||||||||||||||||
institutions | retained loans | |||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||
$ | 26,712 | $ | 22,064 | $ | 9,979 | $ | 9,183 | $ | 79,494 | $ | 79,533 | $ | 226,070 | $ | 214,446 | |||||||||||||||||||||||||||||||||||
6,674 | 13,760 | 440 | 356 | 10,992 | 9,914 | 75,964 | 83,248 | |||||||||||||||||||||||||||||||||||||||||||
272 | 395 | 42 | 5 | 480 | 201 | 5,408 | 7,094 | |||||||||||||||||||||||||||||||||||||||||||
25 | 8 | 1 | — | 155 | 198 | 821 | 1,434 | |||||||||||||||||||||||||||||||||||||||||||
6,971 | 14,163 | 483 | 361 | 11,627 | 10,313 | 82,193 | 91,776 | |||||||||||||||||||||||||||||||||||||||||||
$ | 33,683 | $ | 36,227 | $ | 10,462 | $ | 9,544 | $ | 91,121 | $ | 89,846 | $ | 308,263 | $ | 306,222 | |||||||||||||||||||||||||||||||||||
0.88 | % | 1.11 | % | 0.41 | % | 0.05 | % | 0.7 | % | 0.44 | % | 2.02 | % | 2.78 | % | |||||||||||||||||||||||||||||||||||
0.07 | 0.02 | 0.01 | — | 0.17 | 0.22 | 0.27 | 0.47 | |||||||||||||||||||||||||||||||||||||||||||
$ | 22,726 | $ | 26,326 | $ | 2,146 | $ | 1,582 | $ | 43,376 | $ | 39,421 | $ | 104,057 | $ | 104,356 | |||||||||||||||||||||||||||||||||||
10,957 | 9,901 | 8,316 | 7,962 | 47,745 | 50,425 | 204,206 | 201,866 | |||||||||||||||||||||||||||||||||||||||||||
$ | 33,683 | $ | 36,227 | $ | 10,462 | $ | 9,544 | $ | 91,121 | $ | 89,846 | $ | 308,263 | $ | 306,222 | |||||||||||||||||||||||||||||||||||
$ | (99 | ) | $ | (36 | ) | $ | 1 | $ | 2 | $ | 9 | $ | 14 | $ | 16 | $ | (178 | ) | ||||||||||||||||||||||||||||||||
(0.29 | )% | (0.10 | )% | 0.01 | % | 0.02 | % | 0.01 | % | 0.02 | % | 0.01 | % | (0.06 | )% | |||||||||||||||||||||||||||||||||||
$ | 33,426 | $ | 36,151 | $ | 10,421 | $ | 9,516 | $ | 89,717 | $ | 88,177 | $ | 305,548 | $ | 302,692 | |||||||||||||||||||||||||||||||||||
226 | 62 | 40 | 28 | 1,233 | 1,427 | 1,844 | 1,958 | |||||||||||||||||||||||||||||||||||||||||||
6 | 6 | — | — | 16 | 44 | 50 | 138 | |||||||||||||||||||||||||||||||||||||||||||
25 | 8 | 1 | — | 155 | 198 | 821 | 1,434 | |||||||||||||||||||||||||||||||||||||||||||
$ | 33,683 | $ | 36,227 | $ | 10,462 | $ | 9,544 | $ | 91,121 | $ | 89,846 | $ | 308,263 | $ | 306,222 | |||||||||||||||||||||||||||||||||||
The table below provides information by class of receivable for the retained loans in the Wholesale portfolio segment. | ||||||||||||||||||||||||||||||||||||||||||||||||||
As of or for the year ended December 31, | Commercial | Real estate | ||||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | and industrial | |||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
Loans by risk ratings | ||||||||||||||||||||||||||||||||||||||||||||||||||
Investment grade | $ | 57,690 | $ | 61,870 | $ | 52,195 | $ | 41,796 | ||||||||||||||||||||||||||||||||||||||||||
Noninvestment grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Noncriticized | 43,477 | 44,651 | 14,381 | 14,567 | ||||||||||||||||||||||||||||||||||||||||||||||
Criticized performing | 2,385 | 2,636 | 2,229 | 3,857 | ||||||||||||||||||||||||||||||||||||||||||||||
Criticized nonaccrual | 294 | 708 | 346 | 520 | ||||||||||||||||||||||||||||||||||||||||||||||
Total noninvestment grade | 46,156 | 47,995 | 16,956 | 18,944 | ||||||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 103,846 | $ | 109,865 | $ | 69,151 | $ | 60,740 | ||||||||||||||||||||||||||||||||||||||||||
% of total criticized to total retained loans | 2.58 | % | 3.04 | % | 3.72 | % | 7.21 | % | ||||||||||||||||||||||||||||||||||||||||||
% of nonaccrual loans to total retained loans | 0.28 | 0.64 | 0.5 | 0.86 | ||||||||||||||||||||||||||||||||||||||||||||||
Loans by geographic distribution(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total non-U.S. | $ | 34,440 | $ | 35,494 | $ | 1,369 | $ | 1,533 | ||||||||||||||||||||||||||||||||||||||||||
Total U.S. | 69,406 | 74,371 | 67,782 | 59,207 | ||||||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 103,846 | $ | 109,865 | $ | 69,151 | $ | 60,740 | ||||||||||||||||||||||||||||||||||||||||||
Net charge-offs/(recoveries) | $ | 99 | $ | (212 | ) | $ | 6 | $ | 54 | |||||||||||||||||||||||||||||||||||||||||
% of net charge-offs/(recoveries) to end-of-period retained loans | 0.1 | % | (0.19 | )% | 0.01 | % | 0.09 | % | ||||||||||||||||||||||||||||||||||||||||||
Loan delinquency(b) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current and less than 30 days past due and still accruing | $ | 103,357 | $ | 109,019 | $ | 68,627 | $ | 59,829 | ||||||||||||||||||||||||||||||||||||||||||
30–89 days past due and still accruing | 181 | 119 | 164 | 322 | ||||||||||||||||||||||||||||||||||||||||||||||
90 or more days past due and still accruing(c) | 14 | 19 | 14 | 69 | ||||||||||||||||||||||||||||||||||||||||||||||
Criticized nonaccrual | 294 | 708 | 346 | 520 | ||||||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 103,846 | $ | 109,865 | $ | 69,151 | $ | 60,740 | ||||||||||||||||||||||||||||||||||||||||||
(a) | The U.S. and non-U.S. distribution is determined based predominantly on the domicile of the borrower. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | The credit quality of wholesale loans is assessed primarily through ongoing review and monitoring of an obligor’s ability to meet contractual obligations rather than relying on the past due status, which is generally a lagging indicator of credit quality. For a discussion of more significant risk factors, see page 279 of this Note. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | Represents loans that are considered well-collateralized and therefore still accruing interest. | |||||||||||||||||||||||||||||||||||||||||||||||||
(d) | Other primarily includes loans to SPEs and loans to private banking clients. See Note 1 on pages 189–191 of this Annual Report for additional information on SPEs. | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of impaired financing receivables | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The table below sets forth information about the Firm’s wholesale impaired loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Commercial | Real estate | Financial | Government | Other | Total | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | and industrial | institutions | agencies | retained loans | ||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
With an allowance | $ | 236 | $ | 588 | $ | 258 | $ | 375 | $ | 17 | $ | 6 | $ | 1 | $ | — | $ | 85 | $ | 122 | $ | 597 | $ | 1,091 | ||||||||||||||||||||||||||
Without an allowance(a) | 58 | 173 | 109 | 133 | 8 | 2 | — | — | 73 | 76 | 248 | 384 | ||||||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 294 | $ | 761 | $ | 367 | $ | 508 | $ | 25 | $ | 8 | $ | 1 | $ | — | $ | 158 | $ | 198 | $ | 845 | $ | 1,475 | ||||||||||||||||||||||||||
Allowance for loan losses related to impaired loans | $ | 75 | $ | 205 | $ | 63 | $ | 82 | $ | 16 | $ | 2 | $ | — | $ | — | $ | 27 | $ | 30 | $ | 181 | $ | 319 | ||||||||||||||||||||||||||
Unpaid principal balance of impaired loans(b) | 448 | 957 | 454 | 626 | 24 | 22 | 1 | — | 241 | 318 | 1,168 | 1,923 | ||||||||||||||||||||||||||||||||||||||
(a) | When the discounted cash flows, collateral value or market price equals or exceeds the recorded investment in the loan, the loan does not require an allowance. This typically occurs when the impaired loans have been partially charged-off and/or there have been interest payments received and applied to the loan balance. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Represents the contractual amount of principal owed at December 31, 2013 and 2012. The unpaid principal balance differs from the impaired loan balances due to various factors, including charge-offs; interest payments received and applied to the carrying value; net deferred loan fees or costs; and unamortized discount or premiums on purchased loans. | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of impaired financing receivables, average recorded investment | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the Firm’s average impaired loans for the years ended 2013, 2012 and 2011. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, (in millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 412 | $ | 873 | $ | 1,309 | ||||||||||||||||||||||||||||||||||||||||||||
Real estate | 484 | 784 | 1,813 | |||||||||||||||||||||||||||||||||||||||||||||||
Financial institutions | 17 | 17 | 84 | |||||||||||||||||||||||||||||||||||||||||||||||
Government agencies | — | 9 | 20 | |||||||||||||||||||||||||||||||||||||||||||||||
Other | 211 | 277 | 634 | |||||||||||||||||||||||||||||||||||||||||||||||
Total(a) | $ | 1,124 | $ | 1,960 | $ | 3,860 | ||||||||||||||||||||||||||||||||||||||||||||
(a) | The related interest income on accruing impaired loans and interest income recognized on a cash basis were not material for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables, Roll Forward [Table Text Block] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information about the Firm’s wholesale loans that have been modified in TDRs, including a reconciliation of the beginning and ending balances of such loans and information regarding the nature and extent of modifications during the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Years ended December 31, | Commercial and industrial | Real estate | Other(b) | Total | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||
Beginning balance of TDRs | $ | 575 | $ | 531 | $ | 212 | $ | 99 | $ | 176 | $ | 907 | $ | 22 | $ | 43 | $ | 24 | $ | 696 | $ | 750 | $ | 1,143 | ||||||||||||||||||||||||||
New TDRs | 60 | $ | 162 | $ | 665 | 43 | 43 | 113 | 50 | 73 | 32 | 153 | 278 | 810 | ||||||||||||||||||||||||||||||||||||
Increases to existing TDRs | 4 | 183 | 96 | — | — | 16 | — | — | — | 4 | 183 | 112 | ||||||||||||||||||||||||||||||||||||||
Charge-offs post-modification | (9 | ) | (27 | ) | (30 | ) | (3 | ) | (2 | ) | (146 | ) | — | (7 | ) | — | (12 | ) | (36 | ) | (176 | ) | ||||||||||||||||||||||||||||
Sales and other(a) | (553 | ) | (274 | ) | (412 | ) | (51 | ) | (118 | ) | (714 | ) | (39 | ) | (87 | ) | (13 | ) | (643 | ) | (479 | ) | (1,139 | ) | ||||||||||||||||||||||||||
Ending balance of TDRs | $ | 77 | $ | 575 | $ | 531 | $ | 88 | $ | 99 | $ | 176 | $ | 33 | $ | 22 | $ | 43 | $ | 198 | $ | 696 | $ | 750 | ||||||||||||||||||||||||||
TDRs on nonaccrual status | $ | 77 | $ | 522 | $ | 415 | $ | 61 | $ | 92 | $ | 128 | $ | 30 | $ | 22 | $ | 35 | $ | 168 | $ | 636 | $ | 578 | ||||||||||||||||||||||||||
Additional commitments to lend to borrowers whose loans have been modified in TDRs | 19 | 44 | 147 | — | — | — | — | 2 | — | 19 | 46 | 147 | ||||||||||||||||||||||||||||||||||||||
(a) | Sales and other are largely sales and paydowns, but also includes performing loans restructured at market rates that were removed from the reported TDR balance of $12 million, $44 million and $152 million during the years ended December 31, 2013, 2012 and 2011 respectively. Loans that have been removed continue to be evaluated along with other impaired loans to determine the asset-specific component of the allowance for loan losses (see page 260 of this Note). | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Includes loans to Financial institutions, Government agencies and Other. | |||||||||||||||||||||||||||||||||||||||||||||||||
Real estate [Member] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of financing receivable credit quality indicators | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents additional information on the real estate class of loans within the Wholesale portfolio segment for the periods indicated. The real estate class primarily consists of secured commercial loans mainly to borrowers for multi-family and commercial lessor properties. Multifamily lending specifically finances apartment buildings. Commercial lessors receive financing specifically for real estate leased to retail, office and industrial tenants. Commercial construction and development loans represent financing for the construction of apartments, office and professional buildings and malls. Other real estate loans include lodging, real estate investment trusts (“REITs”), single-family, homebuilders and other real estate. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Multifamily | Commercial lessors | ||||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
Real estate retained loans | $ | 44,389 | $ | 38,030 | $ | 15,949 | $ | 14,668 | ||||||||||||||||||||||||||||||||||||||||||
Criticized | 1,142 | 2,118 | 1,323 | 1,951 | ||||||||||||||||||||||||||||||||||||||||||||||
% of criticized to total real estate retained loans | 2.57 | % | 5.57 | % | 8.3 | % | 13.3 | % | ||||||||||||||||||||||||||||||||||||||||||
Criticized nonaccrual | $ | 191 | $ | 249 | $ | 143 | $ | 207 | ||||||||||||||||||||||||||||||||||||||||||
% of criticized nonaccrual to total real estate retained loans | 0.43 | % | 0.65 | % | 0.9 | % | 1.41 | % | ||||||||||||||||||||||||||||||||||||||||||
(table continued from previous page) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial construction and development | Other | Total real estate loans | ||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||
$ | 3,674 | $ | 2,989 | $ | 5,139 | $ | 5,053 | $ | 69,151 | $ | 60,740 | |||||||||||||||||||||||||||||||||||||||
81 | 119 | 29 | 189 | 2,575 | 4,377 | |||||||||||||||||||||||||||||||||||||||||||||
2.2 | % | 3.98 | % | 0.56 | % | 3.74 | % | 3.72 | % | 7.21 | % | |||||||||||||||||||||||||||||||||||||||
$ | 3 | $ | 21 | $ | 9 | $ | 43 | $ | 346 | $ | 520 | |||||||||||||||||||||||||||||||||||||||
0.08 | % | 0.7 | % | 0.18 | % | 0.85 | % | 0.5 | % | 0.86 | % | |||||||||||||||||||||||||||||||||||||||
Purchased Credit-Impaired [Member] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of financing receivable credit quality indicators | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The table below sets forth information about the Firm’s consumer, excluding credit card, PCI loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Home equity | Prime mortgage | Subprime mortgage | Option ARMs | Total PCI | |||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||
Carrying value(a) | $ | 18,927 | $ | 20,971 | $ | 12,038 | $ | 13,674 | $ | 4,175 | $ | 4,626 | $ | 17,915 | $ | 20,466 | $ | 53,055 | $ | 59,737 | ||||||||||||||||||||||||||||||
Related allowance for loan losses(b) | 1,758 | 1,908 | 1,726 | 1,929 | 180 | 380 | 494 | 1,494 | 4,158 | 5,711 | ||||||||||||||||||||||||||||||||||||||||
Loan delinquency (based on unpaid principal balance) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current | $ | 18,135 | $ | 20,331 | $ | 10,118 | $ | 11,078 | $ | 4,012 | $ | 4,198 | $ | 15,501 | $ | 16,415 | $ | 47,766 | $ | 52,022 | ||||||||||||||||||||||||||||||
30–149 days past due | 583 | 803 | 589 | 740 | 662 | 698 | 1,006 | 1,314 | 2,840 | 3,555 | ||||||||||||||||||||||||||||||||||||||||
150 or more days past due | 1,112 | 1,209 | 1,169 | 2,066 | 797 | 1,430 | 2,716 | 4,862 | 5,794 | 9,567 | ||||||||||||||||||||||||||||||||||||||||
Total loans | $ | 19,830 | $ | 22,343 | $ | 11,876 | $ | 13,884 | $ | 5,471 | $ | 6,326 | $ | 19,223 | $ | 22,591 | $ | 56,400 | $ | 65,144 | ||||||||||||||||||||||||||||||
% of 30+ days past due to total loans | 8.55 | % | 9.01 | % | 14.8 | % | 20.21 | % | 26.67 | % | 33.64 | % | 19.36 | % | 27.34 | % | 15.31 | % | 20.14 | % | ||||||||||||||||||||||||||||||
Current estimated LTV ratios (based on unpaid principal balance)(c)(d) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Greater than 125% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | $ | 1,168 | $ | 4,508 | $ | 240 | $ | 1,478 | $ | 115 | $ | 375 | $ | 301 | $ | 1,597 | $ | 1,824 | $ | 7,958 | ||||||||||||||||||||||||||||||
Less than 660 | 662 | 2,344 | 290 | 1,449 | 459 | 1,300 | 575 | 2,729 | 1,986 | 7,822 | ||||||||||||||||||||||||||||||||||||||||
101% to 125% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 3,248 | 4,966 | 1,017 | 2,968 | 316 | 434 | 1,164 | 3,281 | 5,745 | 11,649 | ||||||||||||||||||||||||||||||||||||||||
Less than 660 | 1,541 | 2,098 | 884 | 1,983 | 919 | 1,256 | 1,563 | 3,200 | 4,907 | 8,537 | ||||||||||||||||||||||||||||||||||||||||
80% to 100% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 4,473 | 3,531 | 2,787 | 1,872 | 544 | 416 | 3,311 | 3,794 | 11,115 | 9,613 | ||||||||||||||||||||||||||||||||||||||||
Less than 660 | 1,782 | 1,305 | 1,699 | 1,378 | 1,197 | 1,182 | 2,769 | 2,974 | 7,447 | 6,839 | ||||||||||||||||||||||||||||||||||||||||
Lower than 80% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 5,077 | 2,524 | 2,897 | 1,356 | 521 | 255 | 5,671 | 2,624 | 14,166 | 6,759 | ||||||||||||||||||||||||||||||||||||||||
Less than 660 | 1,879 | 1,067 | 2,062 | 1,400 | 1,400 | 1,108 | 3,869 | 2,392 | 9,210 | 5,967 | ||||||||||||||||||||||||||||||||||||||||
Total unpaid principal balance | $ | 19,830 | $ | 22,343 | $ | 11,876 | $ | 13,884 | $ | 5,471 | $ | 6,326 | $ | 19,223 | $ | 22,591 | $ | 56,400 | $ | 65,144 | ||||||||||||||||||||||||||||||
Geographic region (based on unpaid principal balance) | ||||||||||||||||||||||||||||||||||||||||||||||||||
California | $ | 11,937 | $ | 13,493 | $ | 6,845 | $ | 7,877 | $ | 1,293 | $ | 1,444 | $ | 10,419 | $ | 11,889 | $ | 30,494 | $ | 34,703 | ||||||||||||||||||||||||||||||
New York | 962 | 1,067 | 807 | 927 | 563 | 649 | 1,196 | 1,404 | 3,528 | 4,047 | ||||||||||||||||||||||||||||||||||||||||
Illinois | 451 | 502 | 353 | 433 | 283 | 338 | 481 | 587 | 1,568 | 1,860 | ||||||||||||||||||||||||||||||||||||||||
Florida | 1,865 | 2,054 | 826 | 1,023 | 526 | 651 | 1,817 | 2,480 | 5,034 | 6,208 | ||||||||||||||||||||||||||||||||||||||||
Texas | 327 | 385 | 106 | 148 | 328 | 368 | 100 | 118 | 861 | 1,019 | ||||||||||||||||||||||||||||||||||||||||
New Jersey | 381 | 423 | 334 | 401 | 213 | 260 | 701 | 854 | 1,629 | 1,938 | ||||||||||||||||||||||||||||||||||||||||
Arizona | 361 | 408 | 187 | 215 | 95 | 105 | 264 | 305 | 907 | 1,033 | ||||||||||||||||||||||||||||||||||||||||
Washington | 1,072 | 1,215 | 266 | 328 | 112 | 142 | 463 | 563 | 1,913 | 2,248 | ||||||||||||||||||||||||||||||||||||||||
Michigan | 62 | 70 | 189 | 211 | 145 | 163 | 206 | 235 | 602 | 679 | ||||||||||||||||||||||||||||||||||||||||
Ohio | 23 | 27 | 55 | 71 | 84 | 100 | 75 | 89 | 237 | 287 | ||||||||||||||||||||||||||||||||||||||||
All other | 2,389 | 2,699 | 1,908 | 2,250 | 1,829 | 2,106 | 3,501 | 4,067 | 9,627 | 11,122 | ||||||||||||||||||||||||||||||||||||||||
Total unpaid principal balance | $ | 19,830 | $ | 22,343 | $ | 11,876 | $ | 13,884 | $ | 5,471 | $ | 6,326 | $ | 19,223 | $ | 22,591 | $ | 56,400 | $ | 65,144 | ||||||||||||||||||||||||||||||
(a) | Carrying value includes the effect of fair value adjustments that were applied to the consumer PCI portfolio at the date of acquisition. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Management concluded as part of the Firm’s regular assessment of the PCI loan pools that it was probable that higher expected credit losses would result in a decrease in expected cash flows. As a result, an allowance for loan losses for impairment of these pools has been recognized. | |||||||||||||||||||||||||||||||||||||||||||||||||
(c) | Represents the aggregate unpaid principal balance of loans divided by the estimated current property value. Current property values are estimated, at a minimum, quarterly, based on home valuation models using nationally recognized home price index valuation estimates incorporating actual data to the extent available and forecasted data where actual data is not available. These property values do not represent actual appraised loan level collateral values; as such, the resulting ratios are necessarily imprecise and should be viewed as estimates. Current estimated combined LTV for junior lien home equity loans considers all available lien positions, as well as unused lines, related to the property. | |||||||||||||||||||||||||||||||||||||||||||||||||
(d) | Refreshed FICO scores represent each borrower’s most recent credit score, which is obtained by the Firm on at least a quarterly basis. | |||||||||||||||||||||||||||||||||||||||||||||||||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Movement, Roll Forward [Table Text Block] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||
The table below sets forth the accretable yield activity for the Firm’s PCI consumer loans for the years ended December 31, 2013, 2012 and 2011, and represents the Firm’s estimate of gross interest income expected to be earned over the remaining life of the PCI loan portfolios. The table excludes the cost to fund the PCI portfolios, and therefore the accretable yield does not represent net interest income expected to be earned on these portfolios. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | Total PCI | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 18,457 | $ | 19,072 | $ | 19,097 | ||||||||||||||||||||||||||||||||||||||||||||
Accretion into interest income | (2,201 | ) | (2,491 | ) | (2,767 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Changes in interest rates on variable-rate loans | (287 | ) | (449 | ) | (573 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Other changes in expected cash flows(a) | 198 | 2,325 | 3,315 | |||||||||||||||||||||||||||||||||||||||||||||||
Balance at December 31 | $ | 16,167 | $ | 18,457 | $ | 19,072 | ||||||||||||||||||||||||||||||||||||||||||||
Accretable yield percentage | 4.31 | % | 4.38 | % | 4.33 | % | ||||||||||||||||||||||||||||||||||||||||||||
(a) | Other changes in expected cash flows may vary from period to period as the Firm continues to refine its cash flow model and periodically updates model assumptions. For the year ended December 31, 2013, other changes in expected cash flows were due to refining the expected interest cash flows on HELOCs with balloon payments, partially offset by changes in prepayment assumptions. For the years ended December 31, 2012 and December 31, 2011, other changes in expected cash flows were principally driven by the impact of modifications, but also related to changes in prepayment assumptions. |
Allowance_for_Credit_Losses_Ta
Allowance for Credit Losses (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Allowance for Credit Losses [Abstract] | ' | ||||||||||||||||||||||||||||
Allowance for credit losses on financing receivables | ' | ||||||||||||||||||||||||||||
The table below summarizes information about the allowance for loan losses, loans by impairment methodology, the allowance for lending-related commitments and lending-related commitments by impairment methodology. | |||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||
Year ended December 31, | Consumer, | Credit card | Wholesale | Total | |||||||||||||||||||||||||
(in millions) | excluding | ||||||||||||||||||||||||||||
credit card | |||||||||||||||||||||||||||||
Allowance for loan losses | |||||||||||||||||||||||||||||
Beginning balance at January 1, | $ | 12,292 | $ | 5,501 | $ | 4,143 | $ | 21,936 | |||||||||||||||||||||
Gross charge-offs | 2,754 | 4,472 | 241 | 7,467 | |||||||||||||||||||||||||
Gross recoveries | (847 | ) | (593 | ) | (225 | ) | (1,665 | ) | |||||||||||||||||||||
Net charge-offs/(recoveries) | 1,907 | 3,879 | 16 | 5,802 | |||||||||||||||||||||||||
Write-offs of PCI loans(a) | 53 | — | — | 53 | |||||||||||||||||||||||||
Provision for loan losses | (1,872 | ) | 2,179 | (119 | ) | 188 | |||||||||||||||||||||||
Other | (4 | ) | (6 | ) | 5 | (5 | ) | ||||||||||||||||||||||
Ending balance at December 31, | $ | 8,456 | $ | 3,795 | $ | 4,013 | $ | 16,264 | |||||||||||||||||||||
Allowance for loan losses by impairment methodology | |||||||||||||||||||||||||||||
Asset-specific(b) | $ | 601 | $ | 971 | (c) | $ | 181 | $ | 1,753 | ||||||||||||||||||||
Formula-based | 3,697 | 2,824 | 3,832 | 10,353 | |||||||||||||||||||||||||
PCI | 4,158 | — | — | 4,158 | |||||||||||||||||||||||||
Total allowance for loan losses | $ | 8,456 | $ | 3,795 | $ | 4,013 | $ | 16,264 | |||||||||||||||||||||
Loans by impairment methodology | |||||||||||||||||||||||||||||
Asset-specific | $ | 13,785 | $ | 3,115 | $ | 845 | $ | 17,745 | |||||||||||||||||||||
Formula-based | 221,609 | 124,350 | 307,412 | 653,371 | |||||||||||||||||||||||||
PCI | 53,055 | — | 6 | 53,061 | |||||||||||||||||||||||||
Total retained loans | $ | 288,449 | $ | 127,465 | $ | 308,263 | $ | 724,177 | |||||||||||||||||||||
Impaired collateral-dependent loans | |||||||||||||||||||||||||||||
Net charge-offs | $ | 235 | $ | — | $ | 37 | $ | 272 | |||||||||||||||||||||
Loans measured at fair value of collateral less cost to sell | 3,105 | — | 362 | 3,467 | |||||||||||||||||||||||||
Allowance for lending-related commitments | |||||||||||||||||||||||||||||
Beginning balance at January 1, | $ | 7 | $ | — | $ | 661 | $ | 668 | |||||||||||||||||||||
Provision for lending-related commitments | 1 | — | 36 | 37 | |||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||
Ending balance at December 31, | $ | 8 | $ | — | $ | 697 | $ | 705 | |||||||||||||||||||||
Allowance for lending-related commitments by impairment methodology | |||||||||||||||||||||||||||||
Asset-specific | $ | — | $ | — | $ | 60 | $ | 60 | |||||||||||||||||||||
Formula-based | 8 | — | 637 | 645 | |||||||||||||||||||||||||
Total allowance for lending-related commitments | $ | 8 | $ | — | $ | 697 | $ | 705 | |||||||||||||||||||||
Lending-related commitments by impairment methodology | |||||||||||||||||||||||||||||
Asset-specific | $ | — | $ | — | $ | 206 | $ | 206 | |||||||||||||||||||||
Formula-based | 56,057 | 529,383 | 446,026 | 1,031,466 | |||||||||||||||||||||||||
Total lending-related commitments | $ | 56,057 | $ | 529,383 | $ | 446,232 | $ | 1,031,672 | |||||||||||||||||||||
(a) | Write-offs of PCI loans are recorded against the allowance for loan losses when actual losses for a pool exceed estimated losses that were recorded as purchase accounting adjustments at the time of acquisition. Any write-offs of PCI loans are recognized when the underlying loan is removed from a pool (e.g., upon liquidation). | ||||||||||||||||||||||||||||
(b) | Includes risk-rated loans that have been placed on nonaccrual status and loans that have been modified in a TDR. | ||||||||||||||||||||||||||||
(c) | The asset-specific credit card allowance for loan losses is related to loans that have been modified in a TDR; such allowance is calculated based on the loans’ original contractual interest rates and does not consider any incremental penalty rates. | ||||||||||||||||||||||||||||
(d) | Consumer, excluding credit card, charge-offs for the year ended December 31, 2012, included $747 million of charge-offs for Chapter 7 residential real estate loans and $53 million of charge-offs for Chapter 7 auto loans. | ||||||||||||||||||||||||||||
(table continued from previous page) | |||||||||||||||||||||||||||||
2012 | 2011 | ||||||||||||||||||||||||||||
Consumer, | Credit card | Wholesale | Total | Consumer, | Credit card | Wholesale | Total | ||||||||||||||||||||||
excluding | excluding | ||||||||||||||||||||||||||||
credit card | credit card | ||||||||||||||||||||||||||||
$ | 16,294 | $ | 6,999 | $ | 4,316 | $ | 27,609 | $ | 16,471 | $ | 11,034 | $ | 4,761 | $ | 32,266 | ||||||||||||||
4,805 | (d) | 5,755 | 346 | 10,906 | 5,419 | 8,168 | 916 | 14,503 | |||||||||||||||||||||
(508 | ) | (811 | ) | (524 | ) | (1,843 | ) | (547 | ) | (1,243 | ) | (476 | ) | (2,266 | ) | ||||||||||||||
4,297 | (d) | 4,944 | (178 | ) | 9,063 | 4,872 | 6,925 | 440 | 12,237 | ||||||||||||||||||||
— | — | — | — | — | — | — | — | ||||||||||||||||||||||
302 | 3,444 | (359 | ) | 3,387 | 4,670 | 2,925 | 17 | 7,612 | |||||||||||||||||||||
(7 | ) | 2 | 8 | 3 | 25 | (35 | ) | (22 | ) | (32 | ) | ||||||||||||||||||
$ | 12,292 | $ | 5,501 | $ | 4,143 | $ | 21,936 | $ | 16,294 | $ | 6,999 | $ | 4,316 | $ | 27,609 | ||||||||||||||
$ | 729 | $ | 1,681 | (c) | $ | 319 | $ | 2,729 | $ | 828 | $ | 2,727 | (c) | $ | 516 | $ | 4,071 | ||||||||||||
5,852 | 3,820 | 3,824 | 13,496 | 9,755 | 4,272 | 3,800 | 17,827 | ||||||||||||||||||||||
5,711 | — | — | 5,711 | 5,711 | — | — | 5,711 | ||||||||||||||||||||||
$ | 12,292 | $ | 5,501 | $ | 4,143 | $ | 21,936 | $ | 16,294 | $ | 6,999 | $ | 4,316 | $ | 27,609 | ||||||||||||||
$ | 13,938 | $ | 4,762 | $ | 1,475 | $ | 20,175 | $ | 9,892 | $ | 7,214 | $ | 2,549 | $ | 19,655 | ||||||||||||||
218,945 | 123,231 | 304,728 | 646,904 | 232,989 | 124,961 | 275,825 | 633,775 | ||||||||||||||||||||||
59,737 | — | 19 | 59,756 | 65,546 | — | 21 | 65,567 | ||||||||||||||||||||||
$ | 292,620 | $ | 127,993 | $ | 306,222 | $ | 726,835 | $ | 308,427 | $ | 132,175 | $ | 278,395 | $ | 718,997 | ||||||||||||||
$ | 973 | (c) | $ | — | $ | 77 | $ | 1,050 | $ | 110 | $ | — | $ | 128 | $ | 238 | |||||||||||||
3,272 | — | 445 | 3,717 | 830 | — | 833 | 1,663 | ||||||||||||||||||||||
$ | 7 | $ | — | $ | 666 | $ | 673 | $ | 6 | $ | — | $ | 711 | $ | 717 | ||||||||||||||
— | — | (2 | ) | (2 | ) | 2 | — | (40 | ) | (38 | ) | ||||||||||||||||||
— | — | (3 | ) | (3 | ) | (1 | ) | — | (5 | ) | (6 | ) | |||||||||||||||||
$ | 7 | $ | — | $ | 661 | $ | 668 | $ | 7 | $ | — | $ | 666 | $ | 673 | ||||||||||||||
$ | — | $ | — | $ | 97 | $ | 97 | $ | — | $ | — | $ | 150 | $ | 150 | ||||||||||||||
7 | — | 564 | 571 | 7 | — | 516 | 523 | ||||||||||||||||||||||
$ | 7 | $ | — | $ | 661 | $ | 668 | $ | 7 | $ | — | $ | 666 | $ | 673 | ||||||||||||||
$ | — | $ | — | $ | 355 | $ | 355 | $ | — | $ | — | $ | 865 | $ | 865 | ||||||||||||||
60,156 | 533,018 | 434,459 | 1,027,633 | 62,307 | 530,616 | 381,874 | 974,797 | ||||||||||||||||||||||
$ | 60,156 | $ | 533,018 | $ | 434,814 | $ | 1,027,988 | $ | 62,307 | $ | 530,616 | $ | 382,739 | $ | 975,662 | ||||||||||||||
Variable_Interest_Entities_Tab
Variable Interest Entities (Tables) | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||
Variable Interest Entities [Abstract] | ' | ||||||||||||||||||||||
Firm-sponsored mortgage and other consumer securitization trusts | ' | ||||||||||||||||||||||
The following table presents the total unpaid principal amount of assets held in Firm-sponsored private-label securitization entities, including those in which the Firm has continuing involvement, and those that are consolidated by the Firm. Continuing involvement includes servicing the loans, holding senior interests or subordinated interests, recourse or guarantee arrangements, and derivative transactions. In certain instances, the Firm’s only continuing involvement is servicing the loans. See Securitization activity on page 297 of this Note for further information regarding the Firm’s cash flows with and interests retained in nonconsolidated VIEs, and pages 297–298 of this Note for information on the Firm’s loan sales to U.S. government agencies. | |||||||||||||||||||||||
Principal amount outstanding | JPMorgan Chase interest in securitized assets in nonconsolidated VIEs(d)(e)(f) | ||||||||||||||||||||||
December 31, 2013 (a) (in billions) | Total assets held by securitization VIEs | Assets held in consolidated securitization VIEs | Assets held in nonconsolidated securitization VIEs with continuing involvement | Trading assets | AFS securities | Total interests held by JPMorgan Chase | |||||||||||||||||
Securitization-related | |||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||
Prime/Alt-A and Option ARMs | $ | 109.2 | $ | 3.2 | $ | 90.4 | $ | 0.5 | $ | 0.3 | $ | 0.8 | |||||||||||
Subprime | 32.1 | 1.3 | 28 | 0.1 | — | 0.1 | |||||||||||||||||
Commercial and other(b) | 130.4 | — | 98 | 0.5 | 3.5 | 4 | |||||||||||||||||
Total | $ | 271.7 | $ | 4.5 | $ | 216.4 | $ | 1.1 | $ | 3.8 | $ | 4.9 | |||||||||||
Principal amount outstanding | JPMorgan Chase interest in securitized assets in nonconsolidated VIEs(d)(e)(f) | ||||||||||||||||||||||
December 31, 2012(a) (in billions) | Total assets held by securitization VIEs | Assets held in consolidated securitization VIEs | Assets held in nonconsolidated securitization VIEs with continuing involvement | Trading assets | AFS securities | Total interests held by JPMorgan Chase | |||||||||||||||||
Securitization-related | |||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||
Prime/Alt-A and Option ARMs(c) | $ | 133.5 | $ | 2.7 | $ | 106.7 | $ | 0.3 | $ | — | $ | 0.3 | |||||||||||
Subprime | 34.5 | 1.3 | 31.3 | 0.1 | — | 0.1 | |||||||||||||||||
Commercial and other(b) | 127.8 | — | 81.8 | 1.5 | 2.8 | 4.3 | |||||||||||||||||
Total | $ | 295.8 | $ | 4 | $ | 219.8 | $ | 1.9 | $ | 2.8 | $ | 4.7 | |||||||||||
(a) | Excludes U.S. government agency securitizations. See pages 297–298 of this Note for information on the Firm’s loan sales to U.S. government agencies. | ||||||||||||||||||||||
(b) | Consists of securities backed by commercial loans (predominantly real estate) and non-mortgage-related consumer receivables purchased from third parties. The Firm generally does not retain a residual interest in its sponsored commercial mortgage securitization transactions. | ||||||||||||||||||||||
(c) | The prior period has been reclassified to conform with the current presentation methodology. | ||||||||||||||||||||||
(d) | The table above excludes the following: retained servicing (see Note 17 on pages 299–304 of this Annual Report for a discussion of MSRs); securities retained from loans sales to U.S. government agencies; interest rate and foreign exchange derivatives primarily used to manage interest rate and foreign exchange risks of securitization entities (See Note 6 on pages 220–233 of this Annual Report for further information on derivatives); senior and subordinated securities of $151 million and $30 million, respectively, at December 31, 2013, and $131 million and $45 million, respectively, at December 31, 2012, which the Firm purchased in connection with CIB’s secondary market-making activities. | ||||||||||||||||||||||
(e) | Includes interests held in re-securitization transactions. | ||||||||||||||||||||||
(f) | As of December 31, 2013 and 2012, 69% and 74%, respectively, of the Firm’s retained securitization interests, which are carried at fair value, were risk-rated “A” or better, on an S&P-equivalent basis. The retained interests in prime residential mortgages consisted of $551 million and $170 million of investment-grade and $260 million and $171 million of noninvestment-grade retained interests at December 31, 2013 and 2012, respectively. The retained interests in commercial and other securitizations trusts consisted of $3.9 billion and $4.1 billion of investment-grade and $80 million and $164 million of noninvestment-grade retained interests at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||
Firm's exposure to nonconsolidated municipal bond VIEs | ' | ||||||||||||||||||||||
The Firm’s exposure to nonconsolidated municipal bond VIEs at December 31, 2013 and 2012, including the ratings profile of the VIEs’ assets, was as follows. | |||||||||||||||||||||||
December 31, | Fair value of assets held by VIEs | Liquidity facilities | Excess/(deficit)(a) | Maximum exposure | |||||||||||||||||||
(in billions) | |||||||||||||||||||||||
Nonconsolidated municipal bond vehicles | |||||||||||||||||||||||
2013 | $ | 11.8 | $ | 6.9 | $ | 4.9 | $ | 6.9 | |||||||||||||||
2012 | 14.2 | 8 | 6.2 | 8 | |||||||||||||||||||
Ratings profile of the VIEs' assets | ' | ||||||||||||||||||||||
Ratings profile of VIE assets(b) | Fair value of assets held by VIEs | Wt. avg. expected life of assets (years) | |||||||||||||||||||||
Investment-grade | Noninvestment- grade | ||||||||||||||||||||||
December 31, | AAA to AAA- | AA+ to AA- | A+ to A- | BBB+ to BBB- | BB+ and below | ||||||||||||||||||
(in billions, except where otherwise noted) | |||||||||||||||||||||||
2013 | $ | 2.7 | $ | 8.9 | $ | 0.2 | $ | — | $ | — | $ | 11.8 | 7.2 | ||||||||||
2012 | 3.1 | 11 | 0.1 | — | — | 14.2 | 5.9 | ||||||||||||||||
(a) | Represents the excess/(deficit) of the fair values of municipal bond assets available to repay the liquidity facilities, if drawn. | ||||||||||||||||||||||
(b) | The ratings scale is presented on an S&P-equivalent basis. The prior period has been reclassified to conform with the current presentation. | ||||||||||||||||||||||
Exposure to nonconsolidated credit-linked note and asset swap VIEs | ' | ||||||||||||||||||||||
Exposure to nonconsolidated credit-related note and asset swap VIEs at December 31, 2013 and 2012, was as follows. | |||||||||||||||||||||||
31-Dec-13 | Net derivative receivables | Total exposure | Par value of collateral held by VIEs(a) | ||||||||||||||||||||
(in billions) | |||||||||||||||||||||||
Credit-related notes | |||||||||||||||||||||||
Static structure | $ | — | $ | — | $ | 4.8 | |||||||||||||||||
Managed structure | — | — | 3.9 | ||||||||||||||||||||
Total credit-related notes | — | — | 8.7 | ||||||||||||||||||||
Asset swaps | 0.4 | 0.4 | 7.7 | ||||||||||||||||||||
Total | $ | 0.4 | $ | 0.4 | $ | 16.4 | |||||||||||||||||
31-Dec-12 | Net derivative receivables | Total exposure | Par value of collateral held by VIEs(a) | ||||||||||||||||||||
(in billions) | |||||||||||||||||||||||
Credit-related notes | |||||||||||||||||||||||
Static structure | $ | 0.5 | $ | 0.5 | $ | 7.3 | |||||||||||||||||
Managed structure | 0.6 | 0.6 | 5.6 | ||||||||||||||||||||
Total credit-related notes | 1.1 | 1.1 | 12.9 | ||||||||||||||||||||
Asset swaps | 0.4 | 0.4 | 7.9 | ||||||||||||||||||||
Total | $ | 1.5 | $ | 1.5 | $ | 20.8 | |||||||||||||||||
(a) | The Firm’s maximum exposure arises through the derivatives executed with the VIEs; the exposure varies over time with changes in the fair value of the derivatives. The Firm relies on the collateral held by the VIEs to pay any amounts due under the derivatives; the vehicles are structured at inception so that the par value of the collateral is expected to be sufficient to pay amounts due under the derivative contracts. | ||||||||||||||||||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm | ' | ||||||||||||||||||||||
The following table presents information on assets and liabilities related to VIEs consolidated by the Firm as of December 31, 2013 and 2012. | |||||||||||||||||||||||
Assets | Liabilities | ||||||||||||||||||||||
December 31, 2013 (in billions)(a) | Trading assets – | Loans | Other(d) | Total | Beneficial interests in | Other(g) | Total | ||||||||||||||||
debt and equity instruments | assets(e) | VIE assets(f) | liabilities | ||||||||||||||||||||
VIE program type | |||||||||||||||||||||||
Firm-sponsored credit card trusts | $ | — | $ | 46.9 | $ | 1.1 | $ | 48 | $ | 26.6 | $ | — | $ | 26.6 | |||||||||
Firm-administered multi-seller conduits | — | 19 | 0.1 | 19.1 | 14.9 | — | 14.9 | ||||||||||||||||
Municipal bond vehicles | 3.4 | — | — | 3.4 | 2.9 | — | 2.9 | ||||||||||||||||
Mortgage securitization entities(b) | 2.3 | 1.7 | — | 4 | 2.9 | 0.9 | 3.8 | ||||||||||||||||
Other(c) | 0.7 | 2.5 | 1 | 4.2 | 2.3 | 0.2 | 2.5 | ||||||||||||||||
Total | $ | 6.4 | $ | 70.1 | $ | 2.2 | $ | 78.7 | $ | 49.6 | $ | 1.1 | $ | 50.7 | |||||||||
Assets | Liabilities | ||||||||||||||||||||||
December 31, 2012 (in billions)(a) | Trading assets – | Loans | Other(d) | Total | Beneficial interests in | Other(g) | Total | ||||||||||||||||
debt and equity instruments | assets(e) | VIE assets(f) | liabilities | ||||||||||||||||||||
VIE program type | |||||||||||||||||||||||
Firm-sponsored credit card trusts | $ | — | $ | 51.9 | $ | 0.8 | $ | 52.7 | $ | 30.1 | $ | — | $ | 30.1 | |||||||||
Firm-administered multi-seller conduits | — | 25.4 | 0.1 | 25.5 | 17.2 | — | 17.2 | ||||||||||||||||
Municipal bond vehicles | 9.8 | — | 0.1 | 9.9 | 11 | — | 11 | ||||||||||||||||
Mortgage securitization entities(b) | 1.4 | 2 | — | 3.4 | 2.3 | 1.1 | 3.4 | ||||||||||||||||
Other(c) | 0.8 | 3.4 | 1.1 | 5.3 | 2.6 | 0.1 | 2.7 | ||||||||||||||||
Total | $ | 12 | $ | 82.7 | $ | 2.1 | $ | 96.8 | $ | 63.2 | $ | 1.2 | $ | 64.4 | |||||||||
(a) | Excludes intercompany transactions which were eliminated in consolidation. | ||||||||||||||||||||||
(b) | Includes residential and commercial mortgage securitizations as well as re-securitizations. | ||||||||||||||||||||||
(c) | Primarily comprises student loan securitization entities. The Firm consolidated $2.5 billion and $3.3 billion of student loan securitization entities as of December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||
(d) | Includes assets classified as cash, derivative receivables, AFS securities, and other assets within the Consolidated Balance Sheets. | ||||||||||||||||||||||
(e) | The assets of the consolidated VIEs included in the program types above are used to settle the liabilities of those entities. The difference between total assets and total liabilities recognized for consolidated VIEs represents the Firm’s interest in the consolidated VIEs for each program type. | ||||||||||||||||||||||
(f) | The interest-bearing beneficial interest liabilities issued by consolidated VIEs are classified in the line item on the Consolidated Balance Sheets titled, “Beneficial interests issued by consolidated variable interest entities.” The holders of these beneficial interests do not have recourse to the general credit of JPMorgan Chase. Included in beneficial interests in VIE assets are long-term beneficial interests of $31.8 billion and $35.0 billion at December 31, 2013 and 2012, respectively. The maturities of the long-term beneficial interests as of December 31, 2013, were as follows: $3.8 billion under one year, $20.6 billion between one and five years, and $7.4 billion over five years, all respectively. | ||||||||||||||||||||||
(g) | Includes liabilities classified as accounts payable and other liabilities in the Consolidated Balance Sheets. | ||||||||||||||||||||||
Securitization activities | ' | ||||||||||||||||||||||
The following tables provide information related to the Firm’s securitization activities for the years ended December 31, 2013, 2012 and 2011, related to assets held in JPMorgan Chase-sponsored securitization entities that were not consolidated by the Firm, and where sale accounting was achieved based on the accounting rules in effect at the time of the securitization. | |||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||
Year ended December 31, | Residential mortgage(d) | Commercial and other(f)(g) | Residential mortgage(d)(e) | Commercial and other(f)(g) | Residential mortgage(d)(e) | Commercial and other(f)(g) | |||||||||||||||||
(in millions, except rates)(a) | |||||||||||||||||||||||
Principal securitized | $ | 1,404 | $ | 11,318 | $ | — | $ | 5,421 | $ | — | $ | 5,961 | |||||||||||
All cash flows during the period: | |||||||||||||||||||||||
Proceeds from new securitizations(b) | $ | 1,410 | $ | 11,507 | $ | — | $ | 5,705 | $ | — | $ | 6,142 | |||||||||||
Servicing fees collected | 576 | 5 | 662 | 4 | 755 | 4 | |||||||||||||||||
Purchases of previously transferred financial assets (or the underlying collateral)(c) | 294 | — | 222 | — | 772 | — | |||||||||||||||||
Cash flows received on interests | 156 | 325 | 185 | 163 | 235 | 178 | |||||||||||||||||
(a) | Excludes re-securitization transactions. | ||||||||||||||||||||||
(b) | Proceeds from residential mortgage securitizations were received in the form of securities. During 2013, $1.4 billion of residential mortgage securitizations were classified in level 2 of the fair value hierarchy. Proceeds from commercial mortgage securitizations were received as securities and cash. During 2013, $11.3 billion of commercial mortgage securitizations were classified in level 2 of the fair value hierarchy, and $207 million of proceeds from commercial mortgage securitizations were received as cash. During 2012, $5.7 billion of commercial mortgage securitizations were classified in level 2 of the fair value hierarchy. During 2011, $4.0 billion and $2.1 billion commercial mortgage securitizations were classified in levels 2 and 3 of the fair value hierarchy, respectively. | ||||||||||||||||||||||
(c) | Includes cash paid by the Firm to reacquire assets from off–balance sheet, nonconsolidated entities – for example, loan repurchases due to representation and warranties and servicer clean-up calls | ||||||||||||||||||||||
(d) | Includes prime, Alt-A, subprime, and option ARMs. Excludes sales for which the Firm did not securitize the loan (including loans sold to Ginnie Mae, Fannie Mae and Freddie Mac). | ||||||||||||||||||||||
(e) | There were no residential mortgage securitizations during 2012 and 2011. | ||||||||||||||||||||||
(f) | Includes commercial and student loan securitizations. | ||||||||||||||||||||||
(g) | Key assumptions used to measure retained interests originated during the year included weighted-average life (in years) of 8.3, 8.8 and 1.7 for the years ended December 31, 2013, 2012, and 2011, respectively, and weighted-average discount rate of 3.2%, 3.6% and 3.5% for the years ended December 31, 2013, 2012, and 2011, respectively. | ||||||||||||||||||||||
Summary of loan sale activities | ' | ||||||||||||||||||||||
The following table summarizes the activities related to loans sold to U.S. government-sponsored agencies and third-party-sponsored securitization entities. | |||||||||||||||||||||||
Year ended December 31, | 2013 | 2012(e) | 2011(e) | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Carrying value of loans sold(a) | $ | 166,028 | $ | 179,008 | $ | 149,247 | |||||||||||||||||
Proceeds received from loan sales as cash | $ | 782 | $ | 195 | $ | 122 | |||||||||||||||||
Proceeds from loan sales as securities(b) | 163,373 | 176,592 | 146,704 | ||||||||||||||||||||
Total proceeds received from loan sales(c) | $ | 164,155 | $ | 176,787 | $ | 146,826 | |||||||||||||||||
Gains on loan sales(d) | 302 | 141 | 133 | ||||||||||||||||||||
(a) | Predominantly to U.S. government agencies. | ||||||||||||||||||||||
(b) | Predominantly includes securities from U.S. government agencies that are generally sold shortly after receipt. | ||||||||||||||||||||||
(c) | Excludes the value of MSRs retained upon the sale of loans. Gains on loan sales include the value of MSRs. | ||||||||||||||||||||||
(d) | The carrying value of the loans accounted for at fair value approximated the proceeds received upon loan sale. | ||||||||||||||||||||||
(e) | Prior periods have been revised to conform with the current presentation. | ||||||||||||||||||||||
Key economic assumptions used to determine the fair value of certain Firm's retained interests in nonconsolidated VIEs, other than MSRs | ' | ||||||||||||||||||||||
The following table outlines the key economic assumptions used to determine the fair value, as of December 31, 2013 and 2012, of certain of the Firm’s retained interests in nonconsolidated VIEs (other than MSRs), that are valued using modeling techniques. The table also outlines the sensitivities of those fair values to immediate 10% and 20% adverse changes in assumptions used to determine fair value. For a discussion of MSRs, see Note 17 on pages 299–304 of this Annual Report. | |||||||||||||||||||||||
Commercial and other | |||||||||||||||||||||||
December 31, (in millions, except rates and where otherwise noted)(a) | 2013 | 2012 | |||||||||||||||||||||
JPMorgan Chase interests in securitized assets(b) | $ | 520 | $ | 1,488 | |||||||||||||||||||
Weighted-average life (in years) | 5.5 | 6.1 | |||||||||||||||||||||
Weighted-average discount rate(b) | 3.8 | % | 4.1 | % | |||||||||||||||||||
Impact of 10% adverse change | $ | (9 | ) | $ | (34 | ) | |||||||||||||||||
Impact of 20% adverse change | (18 | ) | (65 | ) | |||||||||||||||||||
(a) | The Firm’s interests in prime mortgage securitizations were $552 million and $341 million, as of December 31, 2013 and 2012, respectively. These include retained interests in Alt-A loans and re-securitization transactions. The Firm’s interests in subprime mortgage securitizations were $91 million and $68 million, as of December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||
(b) | Incorporates the Firm’s weighted-average loss assumption. | ||||||||||||||||||||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets | ' | ||||||||||||||||||||||
The table below includes information about components of nonconsolidated securitized financial assets, in which the Firm has continuing involvement, and delinquencies as of December 31, 2013 and 2012. | |||||||||||||||||||||||
Securitized assets | 90 days past due | Liquidation losses | |||||||||||||||||||||
As of or for the year ended December 31, (in millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Securitized loans(a) | |||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||
Prime/ Alt-A & Option ARMs | $ | 90,381 | $ | 106,667 | $ | 14,882 | $ | 22,865 | $ | 4,688 | $ | 9,118 | |||||||||||
Subprime mortgage | 28,008 | 31,264 | 7,726 | 10,570 | 2,420 | 3,013 | |||||||||||||||||
Commercial and other | 98,018 | 81,834 | 2,350 | 4,077 | 1,003 | 1,265 | |||||||||||||||||
Total loans securitized(b) | $ | 216,407 | $ | 219,765 | $ | 24,958 | $ | 37,512 | $ | 8,111 | $ | 13,396 | |||||||||||
(a) | Total assets held in securitization-related SPEs were $271.7 billion and $295.8 billion, respectively, at December 31, 2013 and 2012. The $216.4 billion and $219.8 billion, respectively, of loans securitized at December 31, 2013 and 2012, excludes: $50.8 billion and $72.0 billion, respectively, of securitized loans in which the Firm has no continuing involvement, and $4.5 billion and $4.0 billion, respectively, of loan securitizations consolidated on the Firm’s Consolidated Balance Sheets at December 31, 2013 and 2012. | ||||||||||||||||||||||
(b) | Includes securitized loans that were previously recorded at fair value and classified as trading assets. |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||
Goodwill and other intangible assets | ' | |||||||||||||||||||
Goodwill and other intangible assets consist of the following. | ||||||||||||||||||||
December 31, (in millions) | 2013 | 2012 | 2011 | |||||||||||||||||
Goodwill | $ | 48,081 | $ | 48,175 | $ | 48,188 | ||||||||||||||
Mortgage servicing rights | 9,614 | 7,614 | 7,223 | |||||||||||||||||
Other intangible assets: | ||||||||||||||||||||
Purchased credit card relationships | $ | 131 | $ | 295 | $ | 602 | ||||||||||||||
Other credit card-related intangibles | 173 | 229 | 488 | |||||||||||||||||
Core deposit intangibles | 159 | 355 | 594 | |||||||||||||||||
Other intangibles | 1,155 | 1,356 | 1,523 | |||||||||||||||||
Total other intangible assets | $ | 1,618 | $ | 2,235 | $ | 3,207 | ||||||||||||||
Goodwill attributed to the business segments | ' | |||||||||||||||||||
The following table presents goodwill attributed to the business segments. | ||||||||||||||||||||
December 31, (in millions) | 2013 | 2012 | 2011 | |||||||||||||||||
Consumer & Community Banking | $ | 30,985 | $ | 31,048 | $ | 30,996 | ||||||||||||||
Corporate & Investment Bank | 6,888 | 6,895 | 6,944 | |||||||||||||||||
Commercial Banking | 2,862 | 2,863 | 2,864 | |||||||||||||||||
Asset Management | 6,969 | 6,992 | 7,007 | |||||||||||||||||
Corporate/Private Equity | 377 | 377 | 377 | |||||||||||||||||
Total goodwill | $ | 48,081 | $ | 48,175 | $ | 48,188 | ||||||||||||||
Changes in the carrying amount of goodwill | ' | |||||||||||||||||||
The following table presents changes in the carrying amount of goodwill. | ||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||||
(in millions) | ||||||||||||||||||||
Balance at beginning of period(a) | $ | 48,175 | $ | 48,188 | $ | 48,854 | ||||||||||||||
Changes during the period from: | ||||||||||||||||||||
Business combinations | 64 | 43 | 97 | |||||||||||||||||
Dispositions | (5 | ) | (4 | ) | (685 | ) | ||||||||||||||
Other(b) | (153 | ) | (52 | ) | (78 | ) | ||||||||||||||
Balance at December 31,(a) | $ | 48,081 | $ | 48,175 | $ | 48,188 | ||||||||||||||
(a) | Reflects gross goodwill balances as the Firm has not recognized any impairment losses to date. | |||||||||||||||||||
(b) | Includes foreign currency translation adjustments and other tax-related adjustments. | |||||||||||||||||||
Mortgage servicing rights activity | ' | |||||||||||||||||||
The following table summarizes MSR activity for the years ended December 31, 2013, 2012 and 2011. | ||||||||||||||||||||
As of or for the year ended December 31, (in millions, except where otherwise noted) | 2013 | 2012 | 2011 | |||||||||||||||||
Fair value at beginning of period | $ | 7,614 | $ | 7,223 | $ | 13,649 | ||||||||||||||
MSR activity: | ||||||||||||||||||||
Originations of MSRs | 2,214 | 2,376 | 2,570 | |||||||||||||||||
Purchase of MSRs | 1 | 457 | 33 | |||||||||||||||||
Disposition of MSRs(a) | (725 | ) | (579 | ) | — | |||||||||||||||
Net additions | 1,490 | 2,254 | 2,603 | |||||||||||||||||
Changes due to collection/realization of expected cash flows(b) | (1,102 | ) | (1,228 | ) | (1,910 | ) | ||||||||||||||
Changes in valuation due to inputs and assumptions: | ||||||||||||||||||||
Changes due to market interest rates and other(c) | 2,122 | (589 | ) | (5,392 | ) | |||||||||||||||
Changes in valuation due to other inputs and assumptions: | ||||||||||||||||||||
Projected cash flows (e.g., cost to service)(d) | 109 | (452 | ) | (1,757 | ) | |||||||||||||||
Discount rates | (78 | ) | (98 | ) | (1,238 | ) | ||||||||||||||
Prepayment model changes and other(e) | (541 | ) | 504 | 1,268 | ||||||||||||||||
Total changes in valuation due to other inputs and assumptions | (510 | ) | (46 | ) | (1,727 | ) | ||||||||||||||
Total changes in valuation due to inputs and assumptions(b) | $ | 1,612 | $ | (635 | ) | $ | (7,119 | ) | ||||||||||||
Fair value at December 31,(f) | $ | 9,614 | $ | 7,614 | $ | 7,223 | ||||||||||||||
Change in unrealized gains/(losses) included in income related to MSRs | $ | 1,612 | $ | (635 | ) | $ | (7,119 | ) | ||||||||||||
held at December 31, | ||||||||||||||||||||
Contractual service fees, late fees and other ancillary fees included in income | $ | 3,309 | $ | 3,783 | $ | 3,977 | ||||||||||||||
Third-party mortgage loans serviced at December 31, (in billions) | $ | 822 | $ | 867 | $ | 910 | ||||||||||||||
Servicer advances, net of an allowance for uncollectible amounts, at December 31, (in billions)(g) | $ | 9.6 | $ | 10.9 | $ | 11.1 | ||||||||||||||
(a) | Predominantly represents excess mortgage servicing rights transferred to agency-sponsored trusts in exchange for stripped mortgage backed securities (“SMBS”). In each transaction, a portion of the SMBS was acquired by third parties at the transaction date; the Firm acquired and has retained the remaining balance of those SMBS as trading securities. Also includes sales of MSRs in 2013 and 2012. | |||||||||||||||||||
(b) | Included changes related to commercial real estate of $(5) million, $(8) million and $(9) million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||
(c) | Represents both the impact of changes in estimated future prepayments due to changes in market interest rates, and the difference between actual and expected prepayments. | |||||||||||||||||||
(d) | For the year ended December 31, 2013, the increase was driven by the inclusion in the MSR valuation model of servicing fees receivable on certain delinquent loans. | |||||||||||||||||||
(e) | Represents changes in prepayments other than those attributable to changes in market interest rates. For the year ended December 31, 2013, the decrease was driven by changes in the inputs and assumptions used to derive prepayment speeds, primarily increases in home prices. | |||||||||||||||||||
(f) | Included $18 million, $23 million and $31 million related to commercial real estate at December 31, 2013, 2012, and 2011, respectively. | |||||||||||||||||||
(g) | Represents amounts the Firm pays as the servicer (e.g., scheduled principal and interest to a trust, taxes and insurance), which will generally be reimbursed within a short period of time after the advance from future cash flows from the trust or the underlying loans. The Firm’s credit risk associated with these advances is minimal because reimbursement of the advances is typically senior to all cash payments to investors. In addition, the Firm maintains the right to stop payment to investors if the collateral is insufficient to cover the advance. However, certain of these servicer advances may not be recoverable if they were not made in accordance with applicable rules and agreements. | |||||||||||||||||||
CCB mortgage fees and related income | ' | |||||||||||||||||||
The following table presents the components of mortgage fees and related income (including the impact of MSR risk management activities) for the years ended December 31, 2013, 2012 and 2011. | ||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||||
(in millions) | ||||||||||||||||||||
CCB mortgage fees and related income | ||||||||||||||||||||
Net production revenue: | ||||||||||||||||||||
Production revenue | $ | 2,673 | $ | 5,783 | $ | 3,395 | ||||||||||||||
Repurchase losses | 331 | (272 | ) | (1,347 | ) | |||||||||||||||
Net production revenue | 3,004 | 5,511 | 2,048 | |||||||||||||||||
Net mortgage servicing revenue | ||||||||||||||||||||
Operating revenue: | ||||||||||||||||||||
Loan servicing revenue | 3,552 | 3,772 | 4,134 | |||||||||||||||||
Changes in MSR asset fair value due to collection/realization of expected cash flows | (1,094 | ) | (1,222 | ) | (1,904 | ) | ||||||||||||||
Total operating revenue | 2,458 | 2,550 | 2,230 | |||||||||||||||||
Risk management: | ||||||||||||||||||||
Changes in MSR asset fair value due to market interest rates and other(a) | 2,119 | (587 | ) | (5,390 | ) | |||||||||||||||
Other changes in MSR asset fair value due to other inputs and assumptions in model(b) | (511 | ) | (46 | ) | (1,727 | ) | ||||||||||||||
Change in derivative fair value and other | (1,875 | ) | 1,252 | 5,553 | ||||||||||||||||
Total risk management | (267 | ) | 619 | (1,564 | ) | |||||||||||||||
Total CCB net mortgage servicing revenue | 2,191 | 3,169 | 666 | |||||||||||||||||
All other | 10 | 7 | 7 | |||||||||||||||||
Mortgage fees and related income | $ | 5,205 | $ | 8,687 | $ | 2,721 | ||||||||||||||
(a) | Represents both the impact of changes in estimated future prepayments due to changes in market interest rates, and the difference between actual and expected prepayments. | |||||||||||||||||||
(b) | Represents the aggregate impact of changes in model inputs and assumptions such as projected cash flows (e.g., cost to service), discount rates and changes in prepayments other than those attributable to changes in market interest rates (e.g., changes in prepayments due to changes in home prices). For the year ended December 31, 2013, the decrease was driven by changes in the inputs and assumptions used to derive prepayment speeds, primarily increases in home prices. | |||||||||||||||||||
Key economic assumptions used to determine the fair value of the Firm's Mortgage Servicing Rights (MSRs) | ' | |||||||||||||||||||
The table below outlines the key economic assumptions used to determine the fair value of the Firm’s MSRs at December 31, 2013 and 2012, and outlines the sensitivities of those fair values to immediate adverse changes in those assumptions, as defined below. | ||||||||||||||||||||
December 31, | 2013 | 2012 | ||||||||||||||||||
(in millions, except rates) | ||||||||||||||||||||
Weighted-average prepayment speed assumption (“CPR”) | 8.07 | % | 13.04 | % | ||||||||||||||||
Impact on fair value of 10% adverse change | $ | (362 | ) | $ | (517 | ) | ||||||||||||||
Impact on fair value of 20% adverse change | (705 | ) | (1,009 | ) | ||||||||||||||||
Weighted-average option adjusted spread | 7.77 | % | 7.61 | % | ||||||||||||||||
Impact on fair value of 100 basis points adverse change | $ | (389 | ) | $ | (306 | ) | ||||||||||||||
Impact on fair value of 200 basis points adverse change | (750 | ) | (591 | ) | ||||||||||||||||
CPR: Constant prepayment rate. | ||||||||||||||||||||
Intangible assets components of credit card relationships, core deposits and other intangible assets | ' | |||||||||||||||||||
The components of credit card relationships, core deposits and other intangible assets were as follows. | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Gross amount(a) | Accumulated amortization(a) | Net | Gross amount | Accumulated amortization | Net | |||||||||||||||
December 31, (in millions) | carrying value | carrying value | ||||||||||||||||||
Purchased credit card relationships | $ | 3,540 | $ | 3,409 | $ | 131 | $ | 3,775 | $ | 3,480 | $ | 295 | ||||||||
Other credit card-related intangibles | 542 | 369 | 173 | 850 | 621 | 229 | ||||||||||||||
Core deposit intangibles | 4,133 | 3,974 | 159 | 4,133 | 3,778 | 355 | ||||||||||||||
Other intangibles(b) | 2,374 | 1,219 | 1,155 | 2,390 | 1,034 | 1,356 | ||||||||||||||
(a) | The decrease in the gross amount and accumulated amortization from December 31, 2012, was due to the removal of fully amortized assets. | |||||||||||||||||||
(b) | Includes intangible assets of approximately $600 million consisting primarily of asset management advisory contracts, which were determined to have an indefinite life and are not amortized. | |||||||||||||||||||
Amortization expense related to credit card relationships, core deposits and other intangible assets | ' | |||||||||||||||||||
The following table presents amortization expense related to credit card relationships, core deposits and other intangible assets. | ||||||||||||||||||||
Year ended December 31, (in millions) | 2013 | 2012 | 2011 | |||||||||||||||||
Purchased credit card relationships | $ | 195 | $ | 309 | $ | 295 | ||||||||||||||
Other credit card-related intangibles | 58 | 265 | 106 | |||||||||||||||||
Core deposit intangibles | 196 | 239 | 285 | |||||||||||||||||
Other intangibles | 188 | 144 | 162 | |||||||||||||||||
Total amortization expense | $ | 637 | $ | 957 | $ | 848 | ||||||||||||||
Schedule of finite-lived intangible assets, future amortization expense | ' | |||||||||||||||||||
The following table presents estimated future amortization expense related to credit card relationships, core deposits and other intangible assets at December 31, 2013. | ||||||||||||||||||||
Year ended December 31, (in millions) | Purchased credit card relationships | Other credit | Core deposit intangibles | Other | Total | |||||||||||||||
card-related intangibles | intangibles | |||||||||||||||||||
2014 | $ | 96 | $ | 51 | $ | 102 | $ | 111 | $ | 360 | ||||||||||
2015 | 12 | 39 | 26 | 92 | 169 | |||||||||||||||
2016 | 9 | 34 | 14 | 86 | 143 | |||||||||||||||
2017 | 5 | 29 | 7 | 61 | 102 | |||||||||||||||
2018 | 3 | 20 | 5 | 52 | 80 | |||||||||||||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Deposits [Abstract] | ' | ||||||||||||
Noninterest-bearing and interest-bearing deposits | ' | ||||||||||||
At December 31, 2013 and 2012, noninterest-bearing and interest-bearing deposits were as follows. | |||||||||||||
December 31, (in millions) | 2013 | 2012 | |||||||||||
U.S. offices | |||||||||||||
Noninterest-bearing | $ | 389,863 | $ | 380,320 | |||||||||
Interest-bearing | |||||||||||||
Demand(a) | 84,631 | 53,980 | |||||||||||
Savings(b) | 450,405 | 407,710 | |||||||||||
Time (included $5,995 and $5,140 at fair value)(c) | 91,356 | 90,416 | |||||||||||
Total interest-bearing deposits | 626,392 | 552,106 | |||||||||||
Total deposits in U.S. offices | 1,016,255 | 932,426 | |||||||||||
Non-U.S. offices | |||||||||||||
Noninterest-bearing | 17,611 | 17,845 | |||||||||||
Interest-bearing | |||||||||||||
Demand | 214,391 | 195,395 | |||||||||||
Savings | 1,083 | 1,004 | |||||||||||
Time (included $629 and $593 at fair value)(c) | 38,425 | 46,923 | |||||||||||
Total interest-bearing deposits | 253,899 | 243,322 | |||||||||||
Total deposits in non-U.S. offices | 271,510 | 261,167 | |||||||||||
Total deposits | $ | 1,287,765 | $ | 1,193,593 | |||||||||
(a) | Includes Negotiable Order of Withdrawal (“NOW”) accounts, and certain trust accounts. | ||||||||||||
(b) | Includes Money Market Deposit Accounts (“MMDAs”). | ||||||||||||
(c) | Includes structured notes classified as deposits for which the fair value option has been elected. For further discussion, see Note 4 on pages 215–218 of this Annual Report. | ||||||||||||
Time deposits one hundred thousand or more | ' | ||||||||||||
At December 31, 2013 and 2012, time deposits in denominations of $100,000 or more were as follows. | |||||||||||||
December 31, (in millions) | 2013 | 2012 | |||||||||||
U.S. offices | $ | 74,804 | $ | 70,008 | |||||||||
Non-U.S. offices | 38,412 | 46,890 | |||||||||||
Total | $ | 113,216 | $ | 116,898 | |||||||||
Time deposits, by maturity | ' | ||||||||||||
At December 31, 2013, the maturities of interest-bearing time deposits were as follows. | |||||||||||||
December 31, 2013 | |||||||||||||
(in millions) | U.S. | Non-U.S. | Total | ||||||||||
2014 | $ | 73,130 | $ | 37,394 | $ | 110,524 | |||||||
2015 | 5,395 | 361 | 5,756 | ||||||||||
2016 | 6,274 | 402 | 6,676 | ||||||||||
2017 | 1,387 | 55 | 1,442 | ||||||||||
2018 | 1,845 | 201 | 2,046 | ||||||||||
After 5 years | 3,325 | 12 | 3,337 | ||||||||||
Total | $ | 91,356 | $ | 38,425 | $ | 129,781 | |||||||
Accounts_Payable_and_Other_Lia1
Accounts Payable and Other Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Accounts Payable and Accrued Liabilities [Abstract] | ' | ||||||||
Components of accounts payable and other liabilities | ' | ||||||||
The following table details the components of accounts payable and other liabilities. | |||||||||
December 31, (in millions) | 2013 | 2012 | |||||||
Brokerage payables(a) | $ | 116,391 | $ | 108,398 | |||||
Accounts payable and other liabilities(b) | 78,100 | 86,842 | |||||||
Total | $ | 194,491 | $ | 195,240 | |||||
(a) | Includes payables to customers, brokers, dealers and clearing organizations, and securities fails. | ||||||||
(b) | Includes $25 million and $36 million accounted for at fair value at December 31, 2013 and 2012, respectively. |
LongTerm_debt_Tables
Long-Term debt (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||
Long-term debt carrying values by contractual maturity | ' | ||||||||||||||||||||
The following table is a summary of long-term debt carrying values (including unamortized original issue discount, valuation adjustments and fair value adjustments, where applicable) by remaining contractual maturity as of December 31, 2013. | |||||||||||||||||||||
By remaining maturity at | 2013 | 2012 | |||||||||||||||||||
December 31, | |||||||||||||||||||||
(in millions, except rates) | Under 1 year | 1-5 years | After 5 years | Total | Total | ||||||||||||||||
Parent company | |||||||||||||||||||||
Senior debt: | Fixed rate | $ | 11,100 | $ | 49,241 | $ | 40,733 | $ | 101,074 | $ | 99,716 | ||||||||||
Variable rate | 12,411 | 22,790 | 5,829 | 41,030 | 38,765 | ||||||||||||||||
Interest rates(a) | 0.38-6.25% | 0.35-7.25% | 0.19-6.40% | 0.19-7.25% | 0.26-7.25% | ||||||||||||||||
Subordinated debt: | Fixed rate | $ | 2,904 | $ | 4,966 | $ | 7,328 | $ | 15,198 | $ | 16,312 | ||||||||||
Variable rate | — | 4,557 | 9 | 4,566 | 3,440 | ||||||||||||||||
Interest rates(a) | 1.92-5.13% | 0.63-6.13% | 3.38-8.53% | 0.63-8.53% | 0.61-8.53% | ||||||||||||||||
Subtotal | $ | 26,415 | $ | 81,554 | $ | 53,899 | $ | 161,868 | $ | 158,233 | |||||||||||
Subsidiaries | |||||||||||||||||||||
Federal Home Loan Banks ("FHLB") advances: | Fixed rate | $ | 1,029 | $ | 2,022 | $ | 185 | $ | 3,236 | $ | 4,712 | ||||||||||
Variable rate | 11,050 | 39,590 | 8,000 | 58,640 | 37,333 | ||||||||||||||||
Interest rates(a) | 0.20-1.54% | 0.16-2.04% | 0.36-0.43% | 0.16-2.04% | 0.30-2.04% | ||||||||||||||||
Senior debt: | Fixed rate | $ | 347 | $ | 1,655 | $ | 3,426 | $ | 5,428 | $ | 6,761 | ||||||||||
Variable rate | 6,593 | 14,117 | 2,748 | 23,458 | 21,607 | ||||||||||||||||
Interest rates(a) | 0.12-3.75% | 0.21-8.00% | 7.28 | % | 0.12-8.00% | 0.16-7.28% | |||||||||||||||
Subordinated debt: | Fixed rate | $ | — | $ | 5,445 | $ | 1,841 | $ | 7,286 | $ | 7,513 | ||||||||||
Variable rate | — | 2,528 | — | 2,528 | 2,466 | ||||||||||||||||
Interest rates(a) | — | % | 0.57-6.00% | 4.38-8.25% | 0.57-8.25% | 0.64-8.25% | |||||||||||||||
Subtotal | $ | 19,019 | $ | 65,357 | $ | 16,200 | $ | 100,576 | $ | 80,392 | |||||||||||
Junior subordinated debt: | Fixed rate | $ | — | $ | — | $ | 2,176 | $ | 2,176 | $ | 7,131 | ||||||||||
Variable rate | — | — | 3,269 | 3,269 | 3,268 | ||||||||||||||||
Interest rates(a) | — | % | — | % | 0.74-8.75% | 0.74-8.75% | 0.81-8.75% | ||||||||||||||
Subtotal | $ | — | $ | — | $ | 5,445 | $ | 5,445 | $ | 10,399 | |||||||||||
Total long-term debt(b)(c)(d) | $ | 45,434 | $ | 146,911 | $ | 75,544 | $ | 267,889 | (f)(g) | $ | 249,024 | ||||||||||
Long-term beneficial interests: | |||||||||||||||||||||
Fixed rate | $ | 353 | $ | 7,537 | $ | 3,068 | $ | 10,958 | $ | 10,393 | |||||||||||
Variable rate | 3,438 | 13,056 | 4,378 | 20,872 | 24,579 | ||||||||||||||||
Interest rates | 0.19-5.63% | 0.19-5.35% | 0.04-15.93% | 0.04-15.93% | 0.23-13.91% | ||||||||||||||||
Total long-term beneficial interests(e) | $ | 3,791 | $ | 20,593 | $ | 7,446 | $ | 31,830 | $ | 34,972 | |||||||||||
(a) | The interest rates shown are the range of contractual rates in effect at year-end, including non-U.S. dollar fixed- and variable-rate issuances, which excludes the effects of the associated derivative instruments used in hedge accounting relationships, if applicable. The use of these derivative instruments modifies the Firm’s exposure to the contractual interest rates disclosed in the table above. Including the effects of the hedge accounting derivatives, the range of modified rates in effect at December 31, 2013, for total long-term debt was (0.18)% to 8.00%, versus the contractual range of 0.12% to 8.75% presented in the table above. The interest rate ranges shown exclude structured notes accounted for at fair value. | ||||||||||||||||||||
(b) | Included long-term debt of $68.4 billion and $48.0 billion secured by assets totaling $131.3 billion and $112.8 billion at December 31, 2013 and 2012, respectively. The amount of long-term debt secured by assets does not include amounts related to hybrid instruments. | ||||||||||||||||||||
(c) | Included $28.9 billion and $30.8 billion of long-term debt accounted for at fair value at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||
(d) | Included $2.7 billion and $1.6 billion of outstanding zero-coupon notes at December 31, 2013 and 2012, respectively. The aggregate principal amount of these notes at their respective maturities is $4.5 billion and $3.0 billion, respectively. | ||||||||||||||||||||
(e) | Included on the Consolidated Balance Sheets in beneficial interests issued by consolidated VIEs. Also included $2.0 billion and $1.2 billion of outstanding structured notes accounted for at fair value at December 31, 2013 and 2012, respectively. Excluded short-term commercial paper and other short-term beneficial interests of $17.8 billion and $28.2 billion at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||
(f) | At December 31, 2013, long-term debt in the aggregate of $24.6 billion was redeemable at the option of JPMorgan Chase, in whole or in part, prior to maturity, based on the terms specified in the respective notes. | ||||||||||||||||||||
(g) | The aggregate carrying values of debt that matures in each of the five years subsequent to 2013 is $45.4 billion in 2014, $43.3 billion in 2015, $36.3 billion in 2016, $32.5 billion in 2017 and $34.8 billion in 2018. | ||||||||||||||||||||
Outstanding trust preferred capital debt securities | ' | ||||||||||||||||||||
The following is a summary of the outstanding trust preferred securities, including unamortized original issue discount, issued by each trust, and the junior subordinated deferrable interest debenture issued to each trust, as of December 31, 2013. | |||||||||||||||||||||
31-Dec-13 | Amount of trust preferred securities issued by trust(a) | Principal amount of debenture issued to trust(b) | Issue date | Stated maturity of trust preferred securities and debentures | Earliest redemption date | Interest rate of trust preferred securities and debentures | Interest payment/distribution dates | ||||||||||||||
(in millions) | |||||||||||||||||||||
Bank One Capital III | $ | 474 | $ | 675 | 2000 | 2030 | Any time | 8.75% | Semiannually | ||||||||||||
Chase Capital II | 482 | 498 | 1997 | 2027 | Any time | LIBOR + 0.50% | Quarterly | ||||||||||||||
Chase Capital III | 296 | 305 | 1997 | 2027 | Any time | LIBOR + 0.55% | Quarterly | ||||||||||||||
Chase Capital VI | 241 | 249 | 1998 | 2028 | Any time | LIBOR + 0.625% | Quarterly | ||||||||||||||
First Chicago NBD Capital I | 249 | 257 | 1997 | 2027 | Any time | LIBOR + 0.55% | Quarterly | ||||||||||||||
JPMorgan Chase Capital XIII | 465 | 480 | 2004 | 2034 | 2014 | LIBOR + 0.95% | Quarterly | ||||||||||||||
JPMorgan Chase Capital XXI | 836 | 837 | 2007 | 2037 | Any time | LIBOR + 0.95% | Quarterly | ||||||||||||||
JPMorgan Chase Capital XXIII | 643 | 644 | 2007 | 2047 | Any time | LIBOR + 1.00% | Quarterly | ||||||||||||||
JPMorgan Chase Capital XXIX | 1,500 | 1,500 | 2010 | 2040 | 2015 | 6.70% | Quarterly | ||||||||||||||
Total | $ | 5,186 | $ | 5,445 | |||||||||||||||||
(a) | Represents the amount of trust preferred securities issued to the public by each trust, including unamortized original issue discount. | ||||||||||||||||||||
(b) | Represents the principal amount of JPMorgan Chase debentures issued to each trust, including unamortized original-issue discount. The principal amount of debentures issued to the trusts includes the impact of hedging and purchase accounting fair value adjustments that were recorded on the Firm’s Consolidated Financial Statements. |
Preferred_Stock_Tables
Preferred Stock (Tables) (Preferred Stock [Member]) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Preferred Stock [Member] | ' | |||||||||||||||||||||
Class of Stock [Line Items] | ' | |||||||||||||||||||||
Schedule of stock by class | ' | |||||||||||||||||||||
The following is a summary of JPMorgan Chase’s preferred stock outstanding as of December 31, 2013 and 2012. | ||||||||||||||||||||||
Contractual rate in effect at | Shares at December 31,(a) | Carrying value (in millions) at December 31, | Earliest redemption date | Share value and redemption | ||||||||||||||||||
31-Dec-13 | 2013 | 2012 | 2013 | 2012 | price per share(b) | |||||||||||||||||
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I | 7.9 | % | 600,000 | 600,000 | $ | 6,000 | $ | 6,000 | 4/30/18 | $ | 10,000 | |||||||||||
8.625% Non-Cumulative Perpetual Preferred Stock, Series J | N/A | — | 180,000 | — | 1,800 | 9/1/13 | 10,000 | |||||||||||||||
5.50% Non-Cumulative Perpetual Preferred Stock, Series O | 5.5 | % | 125,750 | 125,750 | 1,258 | 1,258 | 9/1/17 | 10,000 | ||||||||||||||
5.45% Non-Cumulative Perpetual Preferred Stock, Series P | 5.45 | % | 90,000 | — | 900 | — | 3/1/18 | 10,000 | ||||||||||||||
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series Q | 5.15 | % | 150,000 | — | 1,500 | — | 5/1/23 | 10,000 | ||||||||||||||
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series R | 6 | % | 150,000 | — | 1,500 | — | 8/1/23 | 10,000 | ||||||||||||||
Total preferred stock | 1,115,750 | 905,750 | $ | 11,158 | $ | 9,058 | ||||||||||||||||
(a) | Represented by depositary shares. | |||||||||||||||||||||
(b) | The redemption price includes the amount shown in the table plus any accrued but unpaid dividends. |
Common_stock_Tables
Common stock (Tables) (Common Stock [Member]) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Common Stock [Member] | ' | ||||||||||||
Class of Stock [Line Items] | ' | ||||||||||||
Schedule of stock by class | ' | ||||||||||||
Common shares issued (newly issued or distributed from treasury) by JPMorgan Chase during the years ended December 31, 2013, 2012 and 2011 were as follows. | |||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | ||||||||||
(in millions) | |||||||||||||
Total issued – balance at January 1 and December 31 | 4,104.90 | 4,104.90 | 4,104.90 | ||||||||||
Treasury – balance at January 1 | (300.9 | ) | (332.2 | ) | (194.6 | ) | |||||||
Purchase of treasury stock | (96.1 | ) | (33.5 | ) | (226.9 | ) | |||||||
Share repurchases related to employee stock-based awards(a) | — | (0.2 | ) | (0.1 | ) | ||||||||
Issued from treasury: | |||||||||||||
Employee benefits and compensation plans | 47.1 | 63.7 | 88.3 | ||||||||||
Employee stock purchase plans | 1.1 | 1.3 | 1.1 | ||||||||||
Total issued from treasury | 48.3 | 65 | 89.4 | ||||||||||
Total treasury – balance at December 31 | (348.8 | ) | (300.9 | ) | (332.2 | ) | |||||||
Outstanding | 3,756.10 | 3,804.00 | 3,772.70 | ||||||||||
(a) | Participants in the Firm’s stock-based incentive plans may have shares withheld to cover income taxes. | ||||||||||||
Schedule of common equity repurchases | ' | ||||||||||||
The following table shows the Firm’s repurchases of common equity for the years ended December 31, 2013, 2012 and 2011, on a trade-date basis. As of December 31, 2013, $8.6 billion of authorized repurchase capacity remained under the program. | |||||||||||||
Year ended December 31, | |||||||||||||
(in millions) | 2013 | 2012 | 2011 | ||||||||||
Total number of shares of common stock repurchased | 96 | 31 | 229 | ||||||||||
Aggregate purchase price of common stock repurchases | $ | 4,789 | $ | 1,329 | $ | 8,827 | |||||||
Total number of warrants repurchased | — | 18 | 10 | ||||||||||
Aggregate purchase price of warrant repurchases | $ | — | $ | 238 | $ | 122 | |||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Earnings Per Share [Abstract] | ' | |||||||||
Schedule of earnings per share basic and diluted | ' | |||||||||
The following table presents the calculation of basic and diluted EPS for the years ended December 31, 2013, 2012 and 2011. | ||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | |||||||
(in millions, | ||||||||||
except per share amounts) | ||||||||||
Basic earnings per share | ||||||||||
Net income | $ | 17,923 | $ | 21,284 | $ | 18,976 | ||||
Less: Preferred stock dividends | 805 | 653 | 629 | |||||||
Net income applicable to common equity | 17,118 | 20,631 | 18,347 | |||||||
Less: Dividends and undistributed earnings allocated to participating securities | 525 | 754 | 779 | |||||||
Net income applicable to common stockholders | $ | 16,593 | $ | 19,877 | $ | 17,568 | ||||
Total weighted-average basic shares outstanding | 3,782.40 | 3,809.40 | 3,900.40 | |||||||
Net income per share | $ | 4.39 | $ | 5.22 | $ | 4.5 | ||||
Diluted earnings per share | ||||||||||
Net income applicable to common stockholders | $ | 16,593 | $ | 19,877 | $ | 17,568 | ||||
Total weighted-average basic shares outstanding | 3,782.40 | 3,809.40 | 3,900.40 | |||||||
Add: Employee stock options, SARs and warrants(a) | 32.5 | 12.8 | 19.9 | |||||||
Total weighted-average diluted shares outstanding(b) | 3,814.90 | 3,822.20 | 3,920.30 | |||||||
Net income per share | $ | 4.35 | $ | 5.2 | $ | 4.48 | ||||
(a) | Excluded from the computation of diluted EPS (due to the antidilutive effect) were options issued under employee benefit plans and the warrants originally issued in 2008 under the U.S. Treasury’s Capital Purchase Program to purchase shares of the Firm’s common stock. The aggregate number of shares issuable upon the exercise of such options and warrants was 6 million, 148 million and 133 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||
(b) | Participating securities were included in the calculation of diluted EPS using the two-class method, as this computation was more dilutive than the calculation using the treasury stock method. |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income/(Loss) (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Accumulated other comprehensive income/(loss) | ' | |||||||||||||||||||||||||||||||||||
Year ended December 31, | Unrealized gains/(losses) on AFS securities(a) | Translation adjustments, net of hedges | Cash flow hedges | Defined benefit pension and OPEB plans | Accumulated other comprehensive income/(loss) | |||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||
Balance at December 31, 2010 | $ | 2,498 | $ | 253 | $ | 206 | $ | (1,956 | ) | $ | 1,001 | |||||||||||||||||||||||||
Net change | 1,067 | (b) | (279 | ) | (155 | ) | (690 | ) | (57 | ) | ||||||||||||||||||||||||||
Balance at December 31, 2011 | $ | 3,565 | (c) | $ | (26 | ) | $ | 51 | $ | (2,646 | ) | $ | 944 | |||||||||||||||||||||||
Net change | 3,303 | (d) | (69 | ) | 69 | (145 | ) | 3,158 | ||||||||||||||||||||||||||||
Balance at December 31, 2012 | $ | 6,868 | (c) | $ | (95 | ) | $ | 120 | $ | (2,791 | ) | $ | 4,102 | |||||||||||||||||||||||
Net change | (4,070 | ) | (e) | (41 | ) | (259 | ) | 1,467 | (2,903 | ) | ||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 2,798 | (c) | $ | (136 | ) | $ | (139 | ) | $ | (1,324 | ) | $ | 1,199 | ||||||||||||||||||||||
(a) | Represents the after-tax difference between the fair value and amortized cost of securities accounted for as AFS. | |||||||||||||||||||||||||||||||||||
(b) | The net change for 2011 was due primarily to increased market value on U.S. government agency issued MBS and obligations of U.S. states and municipalities, partially offset by the widening of spreads on non-U.S. corporate debt and the realization of gains due to portfolio repositioning. | |||||||||||||||||||||||||||||||||||
(c) | Included after-tax unrealized losses not related to credit on debt securities for which credit losses have been recognized in income of $(56) million at December 31, 2011. There were no such losses at December 31, 2012 and 2013. | |||||||||||||||||||||||||||||||||||
(d) | The net change for 2012 was predominantly driven by increased market value on non-U.S. residential MBS, corporate debt securities and obligations of U.S. states and municipalities, partially offset by realized gains. | |||||||||||||||||||||||||||||||||||
(e) | The net change for 2013 was primarily related to the decline in fair value of U.S. government agency issued MBS and obligations of U.S. states and municipalities due to market changes, as well as net realized gains. | |||||||||||||||||||||||||||||||||||
Changes of the components of accumulated other comprehensive income (loss) | ' | |||||||||||||||||||||||||||||||||||
The following table presents the before- and after-tax changes in the components of other comprehensive income/(loss). | ||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||
Year ended December 31, (in millions) | Pretax | Tax effect | After-tax | Pretax | Tax effect | After-tax | Pretax | Tax effect | After-tax | |||||||||||||||||||||||||||
Unrealized gains/(losses) on AFS securities: | ||||||||||||||||||||||||||||||||||||
Net unrealized gains/(losses) arising during the period | $ | (5,987 | ) | $ | 2,323 | $ | (3,664 | ) | $ | 7,521 | $ | (2,930 | ) | $ | 4,591 | $ | 3,361 | $ | (1,322 | ) | $ | 2,039 | ||||||||||||||
Reclassification adjustment for realized (gains)/losses included in net income(a) | (667 | ) | 261 | (406 | ) | (2,110 | ) | 822 | (1,288 | ) | (1,593 | ) | 621 | (972 | ) | |||||||||||||||||||||
Net change | (6,654 | ) | 2,584 | (4,070 | ) | 5,411 | (2,108 | ) | 3,303 | 1,768 | (701 | ) | 1,067 | |||||||||||||||||||||||
Translation adjustments: | ||||||||||||||||||||||||||||||||||||
Translation(b) | (807 | ) | 295 | (512 | ) | (26 | ) | 8 | (18 | ) | (672 | ) | 255 | (417 | ) | |||||||||||||||||||||
Hedges(b) | 773 | (302 | ) | 471 | (82 | ) | 31 | (51 | ) | 226 | (88 | ) | 138 | |||||||||||||||||||||||
Net change | (34 | ) | (7 | ) | (41 | ) | (108 | ) | 39 | (69 | ) | (446 | ) | 167 | (279 | ) | ||||||||||||||||||||
Cash flow hedges: | ||||||||||||||||||||||||||||||||||||
Net unrealized gains/(losses) arising during the period | (525 | ) | 206 | (319 | ) | 141 | (55 | ) | 86 | 50 | (19 | ) | 31 | |||||||||||||||||||||||
Reclassification adjustment for realized (gains)/losses included in net income(c) | 101 | (41 | ) | 60 | (28 | ) | 11 | (17 | ) | (301 | ) | 115 | (186 | ) | ||||||||||||||||||||||
Net change | (424 | ) | 165 | (259 | ) | 113 | (44 | ) | 69 | (251 | ) | 96 | (155 | ) | ||||||||||||||||||||||
Defined benefit pension and OPEB plans: | ||||||||||||||||||||||||||||||||||||
Prior service credits arising during the period | — | — | — | 6 | (2 | ) | 4 | — | — | — | ||||||||||||||||||||||||||
Net gains/(losses) arising during the period | 2,055 | (750 | ) | 1,305 | (537 | ) | 228 | (309 | ) | (1,290 | ) | 502 | (788 | ) | ||||||||||||||||||||||
Reclassification adjustments included in net income(d): | — | |||||||||||||||||||||||||||||||||||
Amortization of net loss | 321 | (124 | ) | 197 | 324 | (126 | ) | 198 | 214 | (83 | ) | 131 | ||||||||||||||||||||||||
Prior service costs/(credits) | (43 | ) | 17 | (26 | ) | (41 | ) | 16 | (25 | ) | (52 | ) | 20 | (32 | ) | |||||||||||||||||||||
Foreign exchange and other | (14 | ) | 5 | (9 | ) | (21 | ) | 8 | (13 | ) | (1 | ) | — | (1 | ) | |||||||||||||||||||||
Net change | 2,319 | (852 | ) | 1,467 | (269 | ) | 124 | (145 | ) | (1,129 | ) | 439 | (690 | ) | ||||||||||||||||||||||
Total other comprehensive income/(loss) | $ | (4,793 | ) | $ | 1,890 | $ | (2,903 | ) | $ | 5,147 | $ | (1,989 | ) | $ | 3,158 | $ | (58 | ) | $ | 1 | $ | (57 | ) | |||||||||||||
(a) | The pretax amount is reported in securities gains in the Consolidated Statements of Income. | |||||||||||||||||||||||||||||||||||
(b) | Reclassifications of pretax realized gains/(losses) on translation adjustments and related hedges are reported in other income in the Consolidated Statements of Income. The amounts were not material for the year ended December 31, 2013. | |||||||||||||||||||||||||||||||||||
(c) | The pretax amount is reported in the same line as the hedged items, which are predominantly recorded in net interest income in the Consolidated Statements of Income. | |||||||||||||||||||||||||||||||||||
(d) | The pretax amount is reported in compensation expense in the Consolidated Statements of Income. |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Reconciliation of the applicable statutory U.S. income tax rate to the effective tax rate the effective tax rate | ' | ||||||||||||
A reconciliation of the applicable statutory U.S. income tax rate to the effective tax rate for each of the years ended December 31, 2013, 2012 and 2011, is presented in the following table. | |||||||||||||
Effective tax rate | |||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | ||||||||||
Statutory U.S. federal tax rate | 35 | % | 35 | % | 35 | % | |||||||
Increase/(decrease) in tax rate resulting from: | |||||||||||||
U.S. state and local income taxes, net of U.S. federal income tax benefit | 2.2 | 1.6 | 1.6 | ||||||||||
Tax-exempt income | (3.1 | ) | (2.9 | ) | (2.1 | ) | |||||||
Non-U.S. subsidiary earnings(a) | (4.9 | ) | (2.4 | ) | (2.3 | ) | |||||||
Business tax credits | (5.4 | ) | (4.2 | ) | (4.0 | ) | |||||||
Nondeductible legal expense(b) | 8 | (0.2 | ) | 0.9 | |||||||||
Other, net | (1.0 | ) | (0.5 | ) | — | ||||||||
Effective tax rate | 30.8 | % | 26.4 | % | 29.1 | % | |||||||
(a) | Includes earnings deemed to be reinvested indefinitely in non-U.S. subsidiaries. | ||||||||||||
(b) | The prior periods have been revised to conform with the current presentation. | ||||||||||||
Components of income tax expense/(benefit) included in the Consolidated Statements of Income | ' | ||||||||||||
The components of income tax expense/(benefit) included in the Consolidated Statements of Income were as follows for each of the years ended December 31, 2013, 2012, and 2011. | |||||||||||||
Income tax expense/(benefit) | |||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | ||||||||||
(in millions) | |||||||||||||
Current income tax expense/(benefit) | |||||||||||||
U.S. federal | $ | (1,316 | ) | $ | 3,225 | $ | 3,719 | ||||||
Non-U.S. | 1,308 | 1,782 | 1,183 | ||||||||||
U.S. state and local | (4 | ) | 1,496 | 1,178 | |||||||||
Total current income tax expense/(benefit) | (12 | ) | 6,503 | 6,080 | |||||||||
Deferred income tax expense/(benefit) | |||||||||||||
U.S. federal | 7,080 | 2,238 | 2,109 | ||||||||||
Non-U.S. | 10 | (327 | ) | 102 | |||||||||
U.S. state and local | 913 | (781 | ) | (518 | ) | ||||||||
Total deferred income tax expense/(benefit) | 8,003 | 1,130 | 1,693 | ||||||||||
Total income tax expense | $ | 7,991 | $ | 7,633 | $ | 7,773 | |||||||
Significant components of deferred tax assets and liabilities | ' | ||||||||||||
The significant components of deferred tax assets and liabilities are reflected in the following table as of December 31, 2013 and 2012. | |||||||||||||
Deferred taxes | |||||||||||||
December 31, (in millions) | 2013 | 2012 | |||||||||||
Deferred tax assets | |||||||||||||
Allowance for loan losses | $ | 6,593 | $ | 8,712 | |||||||||
Employee benefits | 4,468 | 4,308 | |||||||||||
Accrued expenses and other | 9,179 | 12,393 | |||||||||||
Non-U.S. operations | 5,493 | 3,537 | |||||||||||
Tax attribute carryforwards | 748 | 1,062 | |||||||||||
Gross deferred tax assets | 26,481 | 30,012 | |||||||||||
Valuation allowance | (724 | ) | (689 | ) | |||||||||
Deferred tax assets, net of valuation allowance | $ | 25,757 | $ | 29,323 | |||||||||
Deferred tax liabilities | |||||||||||||
Depreciation and amortization | $ | 3,196 | $ | 2,563 | |||||||||
Mortgage servicing rights, net of hedges | 5,882 | 5,336 | |||||||||||
Leasing transactions | 2,352 | 2,242 | |||||||||||
Non-U.S. operations | 4,705 | 3,582 | |||||||||||
Other, net | 3,459 | 4,340 | |||||||||||
Gross deferred tax liabilities | 19,594 | 18,063 | |||||||||||
Net deferred tax assets | $ | 6,163 | $ | 11,260 | |||||||||
Reconciliation of the beginning and ending amount of unrecognized tax benefits | ' | ||||||||||||
The following table presents a reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||
Unrecognized tax benefits | |||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | ||||||||||
(in millions) | |||||||||||||
Balance at January 1, | $ | 7,158 | $ | 7,189 | $ | 7,767 | |||||||
Increases based on tax positions related to the current period | 542 | 680 | 516 | ||||||||||
Decreases based on tax positions related to the current period | — | — | (110 | ) | |||||||||
Increases based on tax positions related to prior periods | 88 | 234 | 496 | ||||||||||
Decreases based on tax positions related to prior periods | (2,200 | ) | (853 | ) | (1,433 | ) | |||||||
Decreases related to settlements with taxing authorities | (53 | ) | (50 | ) | (16 | ) | |||||||
Decreases related to a lapse of applicable statute of limitations | — | (42 | ) | (31 | ) | ||||||||
Balance at December 31, | $ | 5,535 | $ | 7,158 | $ | 7,189 | |||||||
U.S. and non-U.S. components of income before income tax expense/(benefit) and extraordinary gain income | ' | ||||||||||||
The following table presents the U.S. and non-U.S. components of income before income tax expense for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||
Income before income tax expense - U.S. and non-U.S. | |||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | ||||||||||
(in millions) | |||||||||||||
U.S. | $ | 17,229 | $ | 24,895 | $ | 16,336 | |||||||
Non-U.S.(a) | 8,685 | 4,022 | 10,413 | ||||||||||
Income before income tax expense | $ | 25,914 | $ | 28,917 | $ | 26,749 | |||||||
(a) | For purposes of this table, non-U.S. income is defined as income generated from operations located outside the U.S. |
Regulatory_Capital_Tables
Regulatory Capital (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||
Banking and Thrift [Abstract] | ' | ||||||||||||||||||||||||||||||
Reconciliation of the Firm's total stockholders' equity to Tier 1 capital and Total qualifying capital | ' | ||||||||||||||||||||||||||||||
The following table presents the regulatory capital, assets and risk-based capital ratios for JPMorgan Chase and its significant banking subsidiaries at December 31, 2013 and 2012. These amounts are determined in accordance with regulations issued by the Federal Reserve and/or OCC. The table reflects the Firm’s and JPMorgan Chase Bank, N.A.’s implementation of rules that provide for additional capital requirements for trading positions and securitizations (“Basel 2.5”). Basel 2.5 rules became effective for the Firm and JPMorgan Chase Bank, N.A. on January 1, 2013. The implementation of these rules in the first quarter of 2013 resulted in an increase of approximately $150 billion and $140 billion, respectively, in the Firm’s and JPMorgan Chase Bank, N.A.’s risk-weighted assets compared with the Basel I rules at March 31, 2013. The implementation of these rules also resulted in decreases of the Firm’s Tier 1 capital and Total capital ratios of 140 basis points and 160 basis points, respectively, at March 31, 2013, and decreases of JPMorgan Chase Bank, N.A.’s Tier 1 capital and Total capital ratios of 130 basis points and 150 basis points, respectively, at March 31, 2013. Implementation of Basel 2.5 in the first quarter of 2013 did not impact Chase Bank USA, N.A.’s RWA or Tier 1 capital and Total capital ratios. | |||||||||||||||||||||||||||||||
December 31, | JPMorgan Chase & Co.(d) | JPMorgan Chase Bank, N.A.(d) | Chase Bank USA, N.A.(d) | Well-capitalized ratios(e) | Minimum capital ratios(e) | ||||||||||||||||||||||||||
(in millions, except ratios) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Regulatory capital | |||||||||||||||||||||||||||||||
Tier 1(a) | $ | 165,663 | $ | 160,002 | $ | 139,727 | $ | 111,827 | $ | 12,956 | $ | 9,648 | |||||||||||||||||||
Total | 199,286 | 194,036 | 165,496 | 146,870 | 16,389 | 13,131 | |||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||
Risk-weighted(b) | $ | 1,387,863 | $ | 1,270,378 | $ | 1,171,574 | $ | 1,094,155 | $ | 100,990 | $ | 103,593 | |||||||||||||||||||
Adjusted average(c) | 2,343,713 | 2,243,242 | 1,900,770 | 1,815,816 | 109,731 | 103,688 | |||||||||||||||||||||||||
Capital ratios | |||||||||||||||||||||||||||||||
Tier 1(a) | 11.9 | % | 12.6 | % | 11.9 | % | 10.2 | % | 12.8 | % | 9.3 | % | 6 | % | 4 | % | |||||||||||||||
Total | 14.4 | 15.3 | 14.1 | 13.4 | 16.2 | 12.7 | 10 | 8 | |||||||||||||||||||||||
Tier 1 leverage | 7.1 | 7.1 | 7.4 | 6.2 | 11.8 | 9.3 | 5 | (f) | 3 | (g) | |||||||||||||||||||||
(a) | At December 31, 2013, for JPMorgan Chase and JPMorgan Chase Bank, N.A., trust preferred securities were $5.3 billion and $600 million, respectively. If these securities were excluded from the calculation at December 31, 2013, Tier 1 capital would be $160.4 billion and $139.1 billion, respectively, and the Tier 1 capital ratio would be 11.6% and 11.9%, respectively. At December 31, 2013, Chase Bank USA, N.A. had no trust preferred securities. | ||||||||||||||||||||||||||||||
(b) | Included off–balance sheet risk-weighted assets at December 31, 2013, of $315.9 billion, $304.0 billion and $14 million, and at December 31, 2012, of $304.5 billion, $297.1 billion and $16 million, for JPMorgan Chase, JPMorgan Chase Bank, N.A. and Chase Bank USA, N.A., respectively. | ||||||||||||||||||||||||||||||
(c) | Adjusted average assets, for purposes of calculating the leverage ratio, included total quarterly average assets adjusted for unrealized gains/(losses) on securities, less deductions for disallowed goodwill and other intangible assets, investments in certain subsidiaries, and the total adjusted carrying value of nonfinancial equity investments that are subject to deductions from Tier 1 capital. | ||||||||||||||||||||||||||||||
(d) | Asset and capital amounts for JPMorgan Chase’s banking subsidiaries reflect intercompany transactions; whereas the respective amounts for JPMorgan Chase reflect the elimination of intercompany transactions. | ||||||||||||||||||||||||||||||
(e) | As defined by the regulations issued by the Federal Reserve, OCC and FDIC. | ||||||||||||||||||||||||||||||
(f) | Represents requirements for banking subsidiaries pursuant to regulations issued under the FDIC Improvement Act. There is no Tier 1 leverage component in the definition of a well-capitalized bank holding company. | ||||||||||||||||||||||||||||||
(g) | The minimum Tier 1 leverage ratio for bank holding companies and banks is 3% or 4%, depending on factors specified in regulations issued by the Federal Reserve and OCC. | ||||||||||||||||||||||||||||||
Note: | Rating agencies allow measures of capital to be adjusted upward for deferred tax liabilities, which have resulted from both nontaxable business combinations and from tax-deductible goodwill. The Firm had deferred tax liabilities resulting from nontaxable business combinations totaling $192 million and $291 million at December 31, 2013 and 2012, respectively; and deferred tax liabilities resulting from tax-deductible goodwill of $2.8 billion and $2.5 billion at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||
Reconciliation of total stockholders' equity to tier one capital and total qualifying capital | ' | ||||||||||||||||||||||||||||||
A reconciliation of the Firm’s Total stockholders’ equity to Tier 1 capital and Total qualifying capital is presented in the table below. | |||||||||||||||||||||||||||||||
December 31, (in millions) | 2013 | 2012 | |||||||||||||||||||||||||||||
Tier 1 capital | |||||||||||||||||||||||||||||||
Total stockholders’ equity | $ | 211,178 | $ | 204,069 | |||||||||||||||||||||||||||
Effect of certain items in AOCI excluded from Tier 1 capital | (1,337 | ) | (4,198 | ) | |||||||||||||||||||||||||||
Qualifying hybrid securities and noncontrolling interests(a) | 5,618 | 10,608 | |||||||||||||||||||||||||||||
Less: Goodwill(b) | 45,320 | 45,663 | |||||||||||||||||||||||||||||
Other intangible assets(b) | 2,012 | 2,311 | |||||||||||||||||||||||||||||
Fair value DVA on structured notes and derivative liabilities related to the Firm’s credit quality | 1,300 | 1,577 | |||||||||||||||||||||||||||||
Investments in certain subsidiaries and other | 1,164 | 926 | |||||||||||||||||||||||||||||
Total Tier 1 capital | 165,663 | 160,002 | |||||||||||||||||||||||||||||
Tier 2 capital | |||||||||||||||||||||||||||||||
Long-term debt and other instruments qualifying as Tier 2 | 16,695 | 18,061 | |||||||||||||||||||||||||||||
Qualifying allowance for credit losses | 16,969 | 15,995 | |||||||||||||||||||||||||||||
Other | (41 | ) | (22 | ) | |||||||||||||||||||||||||||
Total Tier 2 capital | 33,623 | 34,034 | |||||||||||||||||||||||||||||
Total qualifying capital | $ | 199,286 | $ | 194,036 | |||||||||||||||||||||||||||
(a) | Primarily includes trust preferred securities of certain business trusts. | ||||||||||||||||||||||||||||||
(b) | Goodwill and other intangible assets are net of any associated deferred tax liabilities. |
OffBalance_Sheet_LendingRelate2
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments [Abstract] | ' | ||||||||||||||||||||||||||
Off-balance sheet lending related financial instruments, and guarantees and other commitments | ' | ||||||||||||||||||||||||||
Off–balance sheet lending-related financial instruments, guarantees and other commitments | |||||||||||||||||||||||||||
Contractual amount | Carrying value(g) | ||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||
By remaining maturity at December 31, | Expires in 1 year or less | Expires after | Expires after | Expires after 5 years | Total | Total | |||||||||||||||||||||
(in millions) | 1 year through | 3 years through | |||||||||||||||||||||||||
3 years | 5 years | ||||||||||||||||||||||||||
Lending-related | |||||||||||||||||||||||||||
Consumer, excluding credit card: | |||||||||||||||||||||||||||
Home equity – senior lien | $ | 2,471 | $ | 4,411 | $ | 4,202 | $ | 2,074 | $ | 13,158 | $ | 15,180 | $ | — | $ | — | |||||||||||
Home equity – junior lien | 3,918 | 6,908 | 4,865 | 2,146 | 17,837 | 21,796 | — | — | |||||||||||||||||||
Prime mortgage | 4,817 | — | — | — | 4,817 | 4,107 | — | — | |||||||||||||||||||
Subprime mortgage | — | — | — | — | — | — | — | — | |||||||||||||||||||
Auto | 7,992 | 191 | 115 | 11 | 8,309 | 7,185 | 1 | 1 | |||||||||||||||||||
Business banking | 10,282 | 548 | 101 | 320 | 11,251 | 11,092 | 7 | 6 | |||||||||||||||||||
Student and other | 108 | 111 | 4 | 462 | 685 | 796 | — | — | |||||||||||||||||||
Total consumer, excluding credit card | 29,588 | 12,169 | 9,287 | 5,013 | 56,057 | 60,156 | 8 | 7 | |||||||||||||||||||
Credit card | 529,383 | — | — | — | 529,383 | 533,018 | — | — | |||||||||||||||||||
Total consumer | 558,971 | 12,169 | 9,287 | 5,013 | 585,440 | 593,174 | 8 | 7 | |||||||||||||||||||
Wholesale: | |||||||||||||||||||||||||||
Other unfunded commitments to extend credit(a)(b) | 61,459 | 79,519 | 97,139 | 8,378 | 246,495 | 243,225 | 432 | 377 | |||||||||||||||||||
Standby letters of credit and other financial guarantees(a)(b)(c) | 25,223 | 32,331 | 32,773 | 2,396 | 92,723 | 100,929 | 943 | 647 | |||||||||||||||||||
Unused advised lines of credit | 88,443 | 12,411 | 423 | 717 | 101,994 | 85,087 | — | — | |||||||||||||||||||
Other letters of credit(a) | 4,176 | 722 | 107 | 15 | 5,020 | 5,573 | 2 | 2 | |||||||||||||||||||
Total wholesale | 179,301 | 124,983 | 130,442 | 11,506 | 446,232 | 434,814 | 1,377 | 1,026 | |||||||||||||||||||
Total lending-related | $ | 738,272 | $ | 137,152 | $ | 139,729 | $ | 16,519 | $ | 1,031,672 | $ | 1,027,988 | $ | 1,385 | $ | 1,033 | |||||||||||
Other guarantees and commitments | |||||||||||||||||||||||||||
Securities lending indemnification agreements and guarantees(d) | $ | 169,709 | $ | — | $ | — | $ | — | $ | 169,709 | $ | 166,493 | NA | NA | |||||||||||||
Derivatives qualifying as guarantees | 1,922 | 765 | 16,061 | 37,526 | 56,274 | 61,738 | $ | 72 | $ | 42 | |||||||||||||||||
Unsettled reverse repurchase and securities borrowing agreements(e) | 38,211 | — | — | — | 38,211 | 34,871 | — | — | |||||||||||||||||||
Loan sale and securitization-related indemnifications: | |||||||||||||||||||||||||||
Mortgage repurchase liability | NA | NA | NA | NA | NA | NA | 681 | 2,811 | |||||||||||||||||||
Loans sold with recourse | NA | NA | NA | NA | 7,692 | 9,305 | 131 | 141 | |||||||||||||||||||
Other guarantees and commitments(f) | 654 | 256 | 1,484 | 4,392 | 6,786 | 6,780 | (99 | ) | (75 | ) | |||||||||||||||||
(a) | At December 31, 2013 and 2012, reflects the contractual amount net of risk participations totaling $476 million and $473 million, respectively, for other unfunded commitments to extend credit; $14.8 billion and $16.6 billion, respectively, for standby letters of credit and other financial guarantees; and $622 million and $690 million, respectively, for other letters of credit. In regulatory filings with the Federal Reserve these commitments are shown gross of risk participations. | ||||||||||||||||||||||||||
(b) | At December 31, 2013 and 2012, included credit enhancements and bond and commercial paper liquidity commitments to U.S. states and municipalities, hospitals and other non-profit entities of $18.9 billion and $21.3 billion, respectively, within other unfunded commitments to extend credit; and $17.2 billion and $23.2 billion, respectively, within standby letters of credit and other financial guarantees. These commitments also include liquidity facilities to nonconsolidated municipal bond VIEs; for further information, see Note 16 on pages 288–299 of this Annual Report. | ||||||||||||||||||||||||||
(c) | At December 31, 2013 and 2012, included unissued standby letters of credit commitments of $42.8 billion and $44.4 billion, respectively. | ||||||||||||||||||||||||||
(d) | At December 31, 2013 and 2012, collateral held by the Firm in support of securities lending indemnification agreements was $176.4 billion and $165.1 billion, respectively. Securities lending collateral comprises primarily cash and securities issued by governments that are members of the Organisation for Economic Co-operation and Development (“OECD”) and U.S. government agencies. | ||||||||||||||||||||||||||
(e) | At December 31, 2013 and 2012, the amount of commitments related to forward-starting reverse repurchase agreements and securities borrowing agreements were $9.9 billion and $13.2 billion, respectively. Commitments related to unsettled reverse repurchase agreements and securities borrowing agreements with regular-way settlement periods were $28.3 billion and $21.7 billion, at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||
(f) | At December 31, 2013 and 2012, included unfunded commitments of $215 million and $370 million, respectively, to third-party private equity funds; and $1.9 billion and $1.5 billion, respectively, to other equity investments. These commitments included $184 million and $333 million, respectively, related to investments that are generally fair valued at net asset value as discussed in Note 3 on pages 195–215 of this Annual Report. In addition, at both December 31, 2013 and 2012, included letters of credit hedged by derivative transactions and managed on a market risk basis of $4.5 billion. | ||||||||||||||||||||||||||
(g) | For lending-related products, the carrying value represents the allowance for lending-related commitments and the guarantee liability; for derivative-related products, the carrying value represents the fair value. | ||||||||||||||||||||||||||
Standby letters of credit, other financial guarantees and other letters of credit | ' | ||||||||||||||||||||||||||
The following table summarizes the types of facilities under which standby letters of credit and other letters of credit arrangements are outstanding by the ratings profiles of the Firm’s customers, as of December 31, 2013 and 2012. | |||||||||||||||||||||||||||
Standby letters of credit, other financial guarantees and other letters of credit | |||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||
December 31, | Standby letters of | Other letters | Standby letters of | Other letters | |||||||||||||||||||||||
(in millions) | credit and other financial guarantees | of credit | credit and other financial guarantees | of credit | |||||||||||||||||||||||
Investment-grade(a) | $ | 69,109 | $ | 3,939 | $ | 77,081 | $ | 3,998 | |||||||||||||||||||
Noninvestment-grade(a) | 23,614 | 1,081 | 23,848 | 1,575 | |||||||||||||||||||||||
Total contractual amount | $ | 92,723 | $ | 5,020 | $ | 100,929 | $ | 5,573 | |||||||||||||||||||
Allowance for lending-related commitments | $ | 263 | $ | 2 | $ | 282 | $ | 2 | |||||||||||||||||||
Commitments with collateral | 40,410 | 1,473 | 42,654 | 1,145 | |||||||||||||||||||||||
(a) | The ratings scale is based on the Firm’s internal ratings which generally correspond to ratings as defined by S&P and Moody’s. | ||||||||||||||||||||||||||
Summary of changes in mortgage repurchase liability | ' | ||||||||||||||||||||||||||
The following table summarizes the change in the mortgage repurchase liability for each of the periods presented. | |||||||||||||||||||||||||||
Summary of changes in mortgage repurchase liability | |||||||||||||||||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||
Repurchase liability at beginning of period | $ | 2,811 | $ | 3,557 | $ | 3,285 | |||||||||||||||||||||
Net realized losses(a)(b) | (1,561 | ) | (1,158 | ) | (1,263 | ) | |||||||||||||||||||||
Reclassification to | (179 | ) | — | — | |||||||||||||||||||||||
litigation reserve(c) | |||||||||||||||||||||||||||
Provision for repurchase losses(d) | (390 | ) | 412 | 1,535 | |||||||||||||||||||||||
Repurchase liability at end of period | $ | 681 | $ | 2,811 | $ | 3,557 | |||||||||||||||||||||
(a) | Presented net of third-party recoveries and include principal losses and accrued interest on repurchased loans, “make-whole” settlements, settlements with claimants, and certain related expense. Make-whole settlements were $414 million, $524 million and $640 million, for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||||||
(b) | The 2013 amount includes $1.1 billion, for the FHFA Settlement Agreement. | ||||||||||||||||||||||||||
(c) | Prior to December 31, 2013, in the absence of a repurchase demand by a party to the relevant contracts, the Firm’s decision to repurchase loans from private-label securitization trusts when it determined it had an obligation to do so was recognized in the mortgage repurchase liability. Pursuant to the terms of the RMBS Trust Settlement, all repurchase obligations relating to the subject private-label securitization trusts, whether resulting from a repurchase demand or otherwise, are now recognized in the Firm’s litigation reserves for this settlement. The RMBS Trust Settlement is fully accrued as of December 31, 2013. | ||||||||||||||||||||||||||
(d) | Included a provision related to new loan sales of $20 million, $112 million and $52 million, for the years ended December 31, 2013, 2012 and 2011, respectively. |
Commitments_Pledged_Assets_and1
Commitments, Pledged Assets, and Collateral (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||
Future minimum rental payments under operating leases | ' | ||||||||||||
The following table presents required future minimum rental payments under operating leases with noncancelable lease terms that expire after December 31, 2013. | |||||||||||||
Year ended December 31, (in millions) | |||||||||||||
2014 | $ | 1,936 | |||||||||||
2015 | 1,845 | ||||||||||||
2016 | 1,687 | ||||||||||||
2017 | 1,529 | ||||||||||||
2018 | 1,267 | ||||||||||||
After 2018 | 6,002 | ||||||||||||
Total minimum payments required(a) | 14,266 | ||||||||||||
Less: Sublease rentals under noncancelable subleases | (2,595 | ) | |||||||||||
Net minimum payment required | $ | 11,671 | |||||||||||
(a) | Lease restoration obligations are accrued in accordance with U.S. GAAP, and are not reported as a required minimum lease payment. | ||||||||||||
Total rental expense | ' | ||||||||||||
Total rental expense was as follows. | |||||||||||||
Year ended December 31, | |||||||||||||
(in millions) | 2013 | 2012 | 2011 | ||||||||||
Gross rental expense | $ | 2,187 | $ | 2,212 | $ | 2,228 | |||||||
Sublease rental income | (341 | ) | (288 | ) | (403 | ) | |||||||
Net rental expense | $ | 1,846 | $ | 1,924 | $ | 1,825 | |||||||
Significant components of assets pledged | ' | ||||||||||||
The significant components of the Firm’s pledged assets were as follows. | |||||||||||||
December 31, (in billions) | 2013 | 2012 | |||||||||||
Securities | $ | 68.1 | $ | 110.1 | |||||||||
Loans | 230.3 | 207.2 | |||||||||||
Trading assets and other | 145.2 | 155.5 | |||||||||||
Total assets pledged | $ | 443.7 | $ | 472.8 | |||||||||
International_Operations_Table
International Operations (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Segments, Geographical Areas [Abstract] | ' | |||||||||||||||||||||
Schedule of revenue from external customers attributed to foreign countries by geographic area | ' | |||||||||||||||||||||
The Firm’s long-lived assets for the periods presented are not considered by management to be significant in relation to total assets. The majority of the Firm’s long-lived assets are located in the United States. | ||||||||||||||||||||||
As of or for the year ended December 31, (in millions) | Revenue(b) | Expense(c) | Income before income tax | Net income | Total assets | |||||||||||||||||
expense | ||||||||||||||||||||||
2013 | ||||||||||||||||||||||
Europe/Middle East and Africa | $ | 15,585 | $ | 9,069 | $ | 6,516 | $ | 4,842 | $ | 514,747 | (d) | |||||||||||
Asia and Pacific | 6,168 | 4,248 | 1,920 | 1,254 | 145,999 | |||||||||||||||||
Latin America and the Caribbean | 2,251 | 1,626 | 625 | 381 | 41,473 | |||||||||||||||||
Total international | 24,004 | 14,943 | 9,061 | 6,477 | 702,219 | |||||||||||||||||
North America(a) | 72,602 | 55,749 | 16,853 | 11,446 | 1,713,470 | |||||||||||||||||
Total | $ | 96,606 | $ | 70,692 | $ | 25,914 | $ | 17,923 | $ | 2,415,689 | ||||||||||||
2012 | ||||||||||||||||||||||
Europe/Middle East and Africa | $ | 10,522 | $ | 9,326 | $ | 1,196 | $ | 1,508 | $ | 553,147 | (d) | |||||||||||
Asia and Pacific | 5,605 | 3,952 | 1,653 | 1,048 | 167,955 | |||||||||||||||||
Latin America and the Caribbean | 2,328 | 1,580 | 748 | 454 | 53,984 | |||||||||||||||||
Total international | 18,455 | 14,858 | 3,597 | 3,010 | 775,086 | |||||||||||||||||
North America(a) | 78,576 | 53,256 | 25,320 | 18,274 | 1,584,055 | |||||||||||||||||
Total | $ | 97,031 | $ | 68,114 | $ | 28,917 | $ | 21,284 | $ | 2,359,141 | ||||||||||||
2011 | ||||||||||||||||||||||
Europe/Middle East and Africa | $ | 16,212 | $ | 9,157 | $ | 7,055 | $ | 4,844 | $ | 566,866 | (d) | |||||||||||
Asia and Pacific | 5,992 | 3,802 | 2,190 | 1,380 | 156,411 | |||||||||||||||||
Latin America and the Caribbean | 2,273 | 1,711 | 562 | 340 | 51,481 | |||||||||||||||||
Total international | 24,477 | 14,670 | 9,807 | 6,564 | 774,758 | |||||||||||||||||
North America(a) | 72,757 | 55,815 | 16,942 | 12,412 | 1,491,034 | |||||||||||||||||
Total | $ | 97,234 | $ | 70,485 | $ | 26,749 | $ | 18,976 | $ | 2,265,792 | ||||||||||||
(a) | Substantially reflects the U.S. | |||||||||||||||||||||
(b) | Revenue is composed of net interest income and noninterest revenue. | |||||||||||||||||||||
(c) | Expense is composed of noninterest expense and the provision for credit losses. | |||||||||||||||||||||
(d) | Total assets for the U.K. were approximately $451 billion, $498 billion, and $510 billion at December 31, 2013, 2012 and 2011, respectively. |
Business_Segments_Tables
Business Segments (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||
Segment results and reconciliation | ' | ||||||||||||||||||||||||||||||||||||||
The following tables provide a summary of the Firm’s segment results for 2013, 2012 and 2011 on a managed basis. Total net revenue (noninterest revenue and net interest income) for each of the segments is presented on a fully taxable-equivalent (“FTE”) basis. Accordingly, revenue from investments that receive tax credits and tax-exempt securities is presented on a basis comparable to taxable investments and securities; this non-GAAP financial measure allows management to assess the comparability of revenue arising from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-exempt items is recorded within income tax expense/(benefit). | |||||||||||||||||||||||||||||||||||||||
The increase in equity levels for the lines of businesses since December 31, 2012, is largely driven by the evolving regulatory requirements and higher capital targets the firm has established under Basel III Advanced approach. | |||||||||||||||||||||||||||||||||||||||
Segment results and reconciliation(a) | |||||||||||||||||||||||||||||||||||||||
As of or the year ended | Consumer & Community Banking(b) | Corporate & Investment Bank | Commercial Banking | ||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||
Noninterest revenue | $ | 17,552 | $ | 20,813 | $ | 15,314 | $ | 23,810 | $ | 23,104 | $ | 22,523 | $ | 2,298 | $ | 2,283 | $ | 2,195 | |||||||||||||||||||||
Net interest income | 28,474 | 29,071 | 30,305 | 10,415 | 11,222 | 11,461 | 4,675 | 4,542 | 4,223 | ||||||||||||||||||||||||||||||
Total net revenue | 46,026 | 49,884 | 45,619 | 34,225 | 34,326 | 33,984 | 6,973 | 6,825 | 6,418 | ||||||||||||||||||||||||||||||
Provision for credit losses | 335 | 3,774 | 7,620 | (232 | ) | (479 | ) | (285 | ) | 85 | 41 | 208 | |||||||||||||||||||||||||||
Noninterest expense | 27,842 | 28,827 | 27,637 | 21,744 | 21,850 | 21,979 | 2,610 | 2,389 | 2,278 | ||||||||||||||||||||||||||||||
Income/(loss) before income tax expense/(benefit) | 17,849 | 17,283 | 10,362 | 12,713 | 12,955 | 12,290 | 4,278 | 4,395 | 3,932 | ||||||||||||||||||||||||||||||
Income tax expense/(benefit) | 7,100 | 6,732 | 4,257 | 4,167 | 4,549 | 4,297 | 1,703 | 1,749 | 1,565 | ||||||||||||||||||||||||||||||
Net income/(loss) | $ | 10,749 | $ | 10,551 | $ | 6,105 | $ | 8,546 | $ | 8,406 | $ | 7,993 | $ | 2,575 | $ | 2,646 | $ | 2,367 | |||||||||||||||||||||
Average common equity | $ | 46,000 | $ | 43,000 | $ | 41,000 | $ | 56,500 | $ | 47,500 | $ | 47,000 | $ | 13,500 | $ | 9,500 | $ | 8,000 | |||||||||||||||||||||
Total assets | 452,929 | 467,282 | 486,697 | 843,577 | 876,107 | 845,095 | 190,782 | 181,502 | 158,040 | ||||||||||||||||||||||||||||||
Return on average common equity | 23 | % | 25 | % | 15 | % | 15 | % | 18 | % | 17 | % | 19 | % | 28 | % | 30 | % | |||||||||||||||||||||
Overhead ratio | 60 | 58 | 61 | 64 | 64 | 65 | 37 | 35 | 35 | ||||||||||||||||||||||||||||||
(a) | Managed basis starts with the reported U.S. GAAP results and includes certain reclassifications as discussed below that do not have any impact on net income as reported by the lines of business or by the Firm as a whole. | ||||||||||||||||||||||||||||||||||||||
(b) | The 2012 and 2011 data for certain income statement line items (predominantly net interest income, compensation and noncompensation expense) and balance sheet items were revised to reflect the transfer of certain technology and operations, as well as real estate-related functions and staff, from Corporate/Private Equity to CCB, effective January 1, 2013. | ||||||||||||||||||||||||||||||||||||||
(c) | Segment managed results reflect revenue on a FTE basis with the corresponding income tax impact recorded within income tax expense/(benefit). These adjustments are eliminated in reconciling items to arrive at the Firm’s reported U.S. GAAP results. | ||||||||||||||||||||||||||||||||||||||
(table continued from previous page) | |||||||||||||||||||||||||||||||||||||||
Asset Management | Corporate/Private Equity(b) | Reconciling Items(c) | Total | ||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
$ | 9,029 | $ | 7,847 | $ | 7,895 | $ | 3,093 | $ | 190 | $ | 3,621 | $ | (2,495 | ) | $ | (2,116 | ) | $ | (2,003 | ) | $ | 53,287 | $ | 52,121 | $ | 49,545 | |||||||||||||
2,291 | 2,099 | 1,648 | (1,839 | ) | (1,281 | ) | 582 | (697 | ) | (743 | ) | (530 | ) | 43,319 | 44,910 | 47,689 | |||||||||||||||||||||||
11,320 | 9,946 | 9,543 | 1,254 | (1,091 | ) | 4,203 | (3,192 | ) | (2,859 | ) | (2,533 | ) | 96,606 | 97,031 | 97,234 | ||||||||||||||||||||||||
65 | 86 | 67 | (28 | ) | (37 | ) | (36 | ) | — | — | — | 225 | 3,385 | 7,574 | |||||||||||||||||||||||||
8,016 | 7,104 | 7,002 | 10,255 | 4,559 | 4,015 | — | — | — | 70,467 | 64,729 | 62,911 | ||||||||||||||||||||||||||||
3,239 | 2,756 | 2,474 | (8,973 | ) | (5,613 | ) | 224 | (3,192 | ) | (2,859 | ) | (2,533 | ) | 25,914 | 28,917 | 26,749 | |||||||||||||||||||||||
1,208 | 1,053 | 882 | (2,995 | ) | (3,591 | ) | (695 | ) | (3,192 | ) | (2,859 | ) | (2,533 | ) | 7,991 | 7,633 | 7,773 | ||||||||||||||||||||||
$ | 2,031 | $ | 1,703 | $ | 1,592 | $ | (5,978 | ) | $ | (2,022 | ) | $ | 919 | $ | — | $ | — | $ | — | $ | 17,923 | $ | 21,284 | $ | 18,976 | ||||||||||||||
$ | 9,000 | $ | 7,000 | $ | 6,500 | $ | 71,409 | $ | 77,352 | $ | 70,766 | $ | — | $ | — | $ | — | $ | 196,409 | $ | 184,352 | $ | 173,266 | ||||||||||||||||
122,414 | 108,999 | 86,242 | 805,987 | 725,251 | 689,718 | NA | NA | NA | 2,415,689 | 2,359,141 | 2,265,792 | ||||||||||||||||||||||||||||
23 | % | 24 | % | 25 | % | NM | NM | NM | NM | NM | NM | 9 | % | 11 | % | 11 | % | ||||||||||||||||||||||
71 | 71 | 73 | NM | NM | NM | NM | NM | NM | 73 | 67 | 65 | ||||||||||||||||||||||||||||
Parent_Company_Tables
Parent Company (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Schedule of Condensed Financial Information of Parent Company Only | ' | ||||||||||||
Parent company – Statements of income and comprehensive income | |||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | ||||||||||
(in millions) | |||||||||||||
Income | |||||||||||||
Dividends from subsidiaries and affiliates: | |||||||||||||
Bank and bank holding company | $ | 1,175 | $ | 4,828 | $ | 10,852 | |||||||
Nonbank(a) | 876 | 1,972 | 2,651 | ||||||||||
Interest income from subsidiaries | 757 | 1,041 | 1,099 | ||||||||||
Other interest income | 303 | 293 | 384 | ||||||||||
Other income from subsidiaries, | |||||||||||||
primarily fees: | |||||||||||||
Bank and bank holding company | 318 | 939 | 809 | ||||||||||
Nonbank | 2,065 | 1,207 | 92 | ||||||||||
Other income/(loss) | (1,380 | ) | 579 | (85 | ) | ||||||||
Total income | 4,114 | 10,859 | 15,802 | ||||||||||
Expense | |||||||||||||
Interest expense to subsidiaries and affiliates(a) | 309 | 836 | 1,121 | ||||||||||
Other interest expense | 4,031 | 4,679 | 4,447 | ||||||||||
Other noninterest expense | 9,597 | 2,399 | 649 | ||||||||||
Total expense | 13,937 | 7,914 | 6,217 | ||||||||||
Income (loss) before income tax benefit and undistributed net income of subsidiaries | (9,823 | ) | 2,945 | 9,585 | |||||||||
Income tax benefit | 4,301 | 1,665 | 1,089 | ||||||||||
Equity in undistributed net income of subsidiaries | 23,445 | 16,674 | 8,302 | ||||||||||
Net income | $ | 17,923 | $ | 21,284 | $ | 18,976 | |||||||
Other comprehensive income, net | (2,903 | ) | 3,158 | (57 | ) | ||||||||
Comprehensive income | $ | 15,020 | $ | 24,442 | $ | 18,919 | |||||||
Parent company – Balance sheets | |||||||||||||
December 31, (in millions) | 2013 | 2012 | |||||||||||
Assets | |||||||||||||
Cash and due from banks | $ | 264 | $ | 216 | |||||||||
Deposits with banking subsidiaries | 64,843 | 75,521 | |||||||||||
Trading assets | 13,727 | 8,128 | |||||||||||
Available-for-sale securities | 15,228 | 3,541 | |||||||||||
Loans | 2,829 | 2,101 | |||||||||||
Advances to, and receivables from, subsidiaries: | |||||||||||||
Bank and bank holding company | 21,693 | 39,773 | |||||||||||
Nonbank | 68,788 | 86,904 | |||||||||||
Investments (at equity) in subsidiaries and affiliates:(b) | |||||||||||||
Bank and bank holding company | 196,950 | 170,297 | |||||||||||
Nonbank(a) | 50,996 | 46,302 | |||||||||||
Other assets | 18,877 | 16,481 | |||||||||||
Total assets | $ | 454,195 | $ | 449,264 | |||||||||
Liabilities and stockholders’ equity | |||||||||||||
Borrowings from, and payables to, subsidiaries and affiliates(a) | $ | 14,328 | $ | 16,744 | |||||||||
Other borrowed funds, primarily commercial paper | 55,454 | 62,010 | |||||||||||
Other liabilities | 11,367 | 8,208 | |||||||||||
Long-term debt(c)(d) | 161,868 | 158,233 | |||||||||||
Total liabilities(d) | 243,017 | 245,195 | |||||||||||
Total stockholders’ equity | 211,178 | 204,069 | |||||||||||
Total liabilities and stockholders’ equity | $ | 454,195 | $ | 449,264 | |||||||||
Parent company – Statements of cash flows | |||||||||||||
Year ended December 31, | 2013 | 2012 | 2011 | ||||||||||
(in millions) | |||||||||||||
Operating activities | |||||||||||||
Net income | $ | 17,923 | $ | 21,284 | $ | 18,976 | |||||||
Less: Net income of subsidiaries and affiliates(a) | 25,496 | 23,474 | 21,805 | ||||||||||
Parent company net loss | (7,573 | ) | (2,190 | ) | (2,829 | ) | |||||||
Cash dividends from subsidiaries and affiliates(a) | 1,917 | 6,798 | 13,414 | ||||||||||
Other operating adjustments(b) | 3,180 | 2,376 | 860 | ||||||||||
Net cash (used in)/provided by operating activities(b) | (2,476 | ) | 6,984 | 11,445 | |||||||||
Investing activities | |||||||||||||
Net change in: | |||||||||||||
Deposits with banking subsidiaries | 10,679 | 16,100 | 20,866 | ||||||||||
Available-for-sale securities: | |||||||||||||
Proceeds from paydowns and maturities | 61 | 621 | 886 | ||||||||||
Purchases | (12,009 | ) | (364 | ) | (1,109 | ) | |||||||
Other changes in loans, net | (713 | ) | (350 | ) | 153 | ||||||||
Advances to subsidiaries, net | 13,769 | 5,951 | (28,105 | ) | |||||||||
Investments (at equity) in subsidiaries and affiliates, net(a) | 700 | 3,546 | (1,530 | ) | |||||||||
All other investing activities, net(b) | 22 | 25 | 29 | ||||||||||
Net cash provided by/(used in) investing activities(b) | 12,509 | 25,529 | (8,810 | ) | |||||||||
Financing activities | |||||||||||||
Net change in: | |||||||||||||
Borrowings from subsidiaries and affiliates(a) | (2,715 | ) | (14,038 | ) | 2,827 | ||||||||
Other borrowed funds | (7,297 | ) | 3,736 | 16,268 | |||||||||
Proceeds from the issuance of long-term debt | 31,303 | 28,172 | 33,566 | ||||||||||
Payments of long-term debt | (21,510 | ) | (44,240 | ) | (41,747 | ) | |||||||
Excess tax benefits related to stock-based compensation | 137 | 255 | 867 | ||||||||||
Proceeds from issuance of preferred stock | 3,873 | 1,234 | — | ||||||||||
Redemption of preferred stock | (1,800 | ) | — | — | |||||||||
Treasury stock and warrants repurchased | (4,789 | ) | (1,653 | ) | (8,863 | ) | |||||||
Dividends paid | (6,056 | ) | (5,194 | ) | (3,895 | ) | |||||||
All other financing activities, net | (1,131 | ) | (701 | ) | (1,622 | ) | |||||||
Net cash used in financing activities | (9,985 | ) | (32,429 | ) | (2,599 | ) | |||||||
Net increase in cash and due from banks | 48 | 84 | 36 | ||||||||||
Cash and due from banks at the beginning of the year, primarily with bank subsidiaries | 216 | 132 | 96 | ||||||||||
Cash and due from banks at the end of the year, primarily with bank subsidiaries | $ | 264 | $ | 216 | $ | 132 | |||||||
Cash interest paid | $ | 4,409 | $ | 5,690 | $ | 5,800 | |||||||
Cash income taxes paid, net | 2,390 | 3,080 | 5,885 | ||||||||||
(a) | Affiliates include trusts that issued guaranteed capital debt securities (“issuer trusts”). The Parent received dividends of $5 million, $12 million and $13 million from the issuer trusts in 2013, 2012 and 2011, respectively. For further discussion on these issuer trusts, see Note 21 on pages 306–308 of this Annual Report. | ||||||||||||
(b) | Prior periods were revised to conform with the current presentation. | ||||||||||||
(c) | At December 31, 2013, long-term debt that contractually matures in 2014 through 2018 totaled $26.4 billion, $23.8 billion, $22.5 billion, $16.6 billion and $18.7 billion, respectively. | ||||||||||||
(d) | For information regarding the Firm’s guarantees of its subsidiaries’ obligations, see Note 21 and Note 29 on pages 306–308 and 318–324, respectively, of this Annual Report. |
Business_Changes_and_Developme1
Business Changes and Developments (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | |||||
Share data in Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Nov. 15, 2013 | Nov. 15, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Jan. 07, 2013 | Jan. 07, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 17, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Mortgage Backed Securities Litigation Related to MBS Offerings Issued By JPMC and Bear Stearns [Member] | Mortgage Backed Securities Litigation Related to MBS Offerings Sponsored By Washington Mutual [Member] | Mortgage Backed Securities Litigation and Regulatory Investigations [Member] | Mortgage Foreclosure Investigations and Litigation [Member] | Washington Mutual, Inc. bankruptcy plan confirmation [Member] | Cash Payment [Member] | Foreclosure Prevention Commitment Actions [Member] | Civil Monetary Penalty [Member] | Compensatory Payments [Member] | Office Building [Member] | VISA [Member] | Federal Housing Finance Agency [Member] | ||||
trust | investors | Mortgage Foreclosure Investigations and Litigation [Member] | Mortgage Foreclosure Investigations and Litigation [Member] | Mortgage Backed Securities Litigation and Regulatory Investigations [Member] | Mortgage Backed Securities Litigation and Regulatory Investigations [Member] | Compensatory Payments [Member] | |||||||||
Mortgage Backed Securities Litigation and Regulatory Investigations [Member] | |||||||||||||||
Other Business Events Disclousre [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitment to provide borrower relief before the end of 2017 as part of a settlement | ' | ' | ' | ' | ' | $4,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency, settlement agreement, consideration | ' | ' | ' | 4,500,000,000 | ' | 9,000,000,000 | ' | ' | 760,000,000 | 1,200,000,000 | 2,000,000,000 | 7,000,000,000 | ' | ' | 4,000,000,000 |
Number of Institutional MBS Investors Directing or Threatening Litigation | ' | ' | ' | ' | 21 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20 | ' |
Gain (loss) on sale of securities, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000,000 | ' |
Shares retained | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40 | ' |
Common stock conversion feature | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42.06% | ' |
Proceeds from sale of property, plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 493,000,000 | ' | ' |
Number of MBS for Which Repurchase and Servicing Claims Have Been or Could Have Been Asserted | ' | ' | ' | 330 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount Agreed to Resolve Fannie Mae's and Freddie Mac's Repurchase Claims Associated with Whole Loan Purchases from 2000 to 2008 | ' | ' | ' | ' | ' | 1,100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency, loss in period | ' | ' | ' | ' | ' | ' | 700,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Noninterest Income, other | $3,847,000,000 | $4,258,000,000 | $2,605,000,000 | ' | ' | ' | ' | $1,100,000,000 | ' | ' | ' | ' | ' | ' | ' |
Business_Changes_and_Developme2
Business Changes and Developments - Subsequent Events (Details 1) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Feb. 28, 2014 | Dec. 31, 2013 | Dec. 31, 2013 |
Mortgage Backed Securities Litigation and Regulatory Investigations [Member] | Mortgage-Related Investigations and Litigation [Member] | Compensatory Payments [Member] | Federal Housing Finance Agency [Member] | |
Subsequent Event [Member] | Mortgage Backed Securities Litigation and Regulatory Investigations [Member] | Compensatory Payments [Member] | ||
Mortgage Backed Securities Litigation and Regulatory Investigations [Member] | ||||
Subsequent Event [Line Items] | ' | ' | ' | ' |
Litigation settlement, amount | $9,000 | $614 | $7,000 | $4,000 |
Fair_Value_Measurement_Recurri
Fair Value Measurement - Recurring Basis (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | |
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Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring 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Recurring [Member] | Recurring [Member] | Trading assets [Member] | Trading assets [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | FairValueLevelThreeToLevelTwoTransfersAmount [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | FairValueLevelThreeToLevelTwoTransfersAmount [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring 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Portion at Fair Value Measurement [Member] | Portion at Fair Value Measurement [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | ||||||||||||||
Recurring [Member] | Recurring [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Recurring [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Recurring [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Recurring [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Recurring [Member] | Recurring [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Netting adjustments [Member] | Netting adjustments [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trading gain (loss) | $9,339,000,000 | $4,765,000,000 | $8,898,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($1,500,000,000) |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal funds sold and securities purchased under resale agreements | ' | ' | ' | ' | ' | ' | 0 | 0 | 25,135,000,000 | 24,258,000,000 | 0 | 0 | 0 | 0 | 25,135,000,000 | 24,258,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Securities borrowed | ' | ' | ' | ' | ' | ' | 0 | 0 | 3,739,000,000 | 10,177,000,000 | 0 | 0 | 0 | 0 | 3,739,000,000 | 10,177,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trading assets | ' | ' | ' | ' | 374,664,000,000 | 450,028,000,000 | 154,507,000,000 | 159,512,000,000 | 1,289,072,000,000 | 1,804,006,000,000 | 45,793,000,000 | 47,872,000,000 | -1,114,708,000,000 | -1,561,362,000,000 | ' | ' | ' | ' | 308,905,000,000 | 375,045,000,000 | 153,334,000,000 | 158,270,000,000 | 128,347,000,000 | 191,136,000,000 | 27,224,000,000 | 25,639,000,000 | 0 | 0 | 181,551,000,000 | 243,827,000,000 | 40,699,000,000 | 41,265,000,000 | 116,517,000,000 | 178,900,000,000 | 24,335,000,000 | 23,662,000,000 | 0 | 0 | 30,369,000,000 | 41,682,000,000 | 4,000,000 | 0 | 28,202,000,000 | 39,314,000,000 | 2,163,000,000 | 2,368,000,000 | 0 | 0 | 26,591,000,000 | 36,738,000,000 | 4,000,000 | 0 | 25,582,000,000 | 36,240,000,000 | 1,005,000,000 | 498,000,000 | 0 | 0 | 2,475,000,000 | 2,172,000,000 | 0 | 0 | 1,749,000,000 | 1,509,000,000 | 726,000,000 | 663,000,000 | 0 | 0 | 1,303,000,000 | 2,772,000,000 | 0 | 0 | 871,000,000 | 1,565,000,000 | 432,000,000 | 1,207,000,000 | 0 | 0 | 25,480,000,000 | 22,425,000,000 | 14,933,000,000 | 15,170,000,000 | 10,547,000,000 | 7,255,000,000 | 0 | 0 | 0 | 0 | 7,920,000,000 | 18,162,000,000 | 0 | 0 | 6,538,000,000 | 16,726,000,000 | 1,382,000,000 | 1,436,000,000 | 0 | 0 | 3,071,000,000 | 4,759,000,000 | 0 | 0 | 3,071,000,000 | 4,759,000,000 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48,284,000,000 | 70,190,000,000 | 25,762,000,000 | 26,095,000,000 | 22,379,000,000 | 44,028,000,000 | 143,000,000 | 67,000,000 | 0 | 0 | 30,722,000,000 | 37,190,000,000 | 0 | 0 | 24,802,000,000 | 31,882,000,000 | 5,920,000,000 | 5,308,000,000 | 0 | 0 | 30,786,000,000 | 41,541,000,000 | 0 | 0 | 17,331,000,000 | 30,754,000,000 | 13,455,000,000 | 10,787,000,000 | 0 | 0 | 14,800,000,000 | 26,400,000,000 | 3,600,000,000 | 4,000,000,000 | 6,000,000,000 | 17,400,000,000 | 2,100,000,000 | 2,200,000,000 | 4,919,000,000 | 7,878,000,000 | 0 | 0 | 3,647,000,000 | 4,182,000,000 | 1,272,000,000 | 3,696,000,000 | 0 | 0 | 1,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 109,506,000,000 | 110,699,000,000 | 107,667,000,000 | 106,898,000,000 | 954,000,000 | 2,687,000,000 | 885,000,000 | 1,114,000,000 | 0 | 0 | 10,189,000,000 | 16,173,000,000 | 4,968,000,000 | 10,107,000,000 | 5,217,000,000 | 6,066,000,000 | 4,000,000 | 0 | 0 | 0 | 7,659,000,000 | 4,346,000,000 | 0 | 0 | 5,659,000,000 | 3,483,000,000 | 2,000,000,000 | 863,000,000 | 0 | 0 | ' | ' | 65,759,000,000 | 74,983,000,000 | 1,173,000,000 | 1,242,000,000 | 1,160,725,000,000 | 1,612,870,000,000 | 18,569,000,000 | 22,233,000,000 | -1,114,708,000,000 | -1,561,362,000,000 | 25,782,000,000 | 39,205,000,000 | 419,000,000 | 476,000,000 | 848,862,000,000 | 1,295,239,000,000 | 5,398,000,000 | 6,617,000,000 | -828,897,000,000 | -1,263,127,000,000 | 1,516,000,000 | 1,735,000,000 | 0 | 0 | 79,754,000,000 | 93,821,000,000 | 3,766,000,000 | 6,489,000,000 | -82,004,000,000 | -98,575,000,000 | 16,790,000,000 | 14,142,000,000 | 434,000,000 | 450,000,000 | 151,521,000,000 | 143,752,000,000 | 1,644,000,000 | 3,051,000,000 | -136,809,000,000 | -133,111,000,000 | 12,227,000,000 | 9,266,000,000 | 0 | 0 | 45,892,000,000 | 37,758,000,000 | 7,039,000,000 | 4,921,000,000 | -40,704,000,000 | -33,413,000,000 | ' | 9,444,000,000 | 10,635,000,000 | 320,000,000 | 316,000,000 | 34,696,000,000 | 42,300,000,000 | 722,000,000 | 1,155,000,000 | -26,294,000,000 | -33,136,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale securities | 329,977,000,000 | 371,145,000,000 | ' | ' | ' | ' | 49,881,000,000 | 43,413,000,000 | 277,774,000,000 | 298,816,000,000 | 2,322,000,000 | 28,916,000,000 | 0 | 0 | 329,977,000,000 | 371,145,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 156,709,000,000 | 186,230,000,000 | 0 | 0 | 155,475,000,000 | 185,525,000,000 | 1,234,000,000 | 705,000,000 | 0 | 0 | 77,815,000,000 | 98,388,000,000 | 0 | 0 | 77,815,000,000 | 98,388,000,000 | 0 | 0 | 0 | 0 | 62,469,000,000 | 74,639,000,000 | 0 | 0 | 61,760,000,000 | 74,189,000,000 | 709,000,000 | 450,000,000 | 0 | 0 | 16,425,000,000 | 13,203,000,000 | 0 | 0 | 15,900,000,000 | 12,948,000,000 | 525,000,000 | 255,000,000 | 0 | 0 | 21,389,000,000 | 12,130,000,000 | 21,091,000,000 | 11,089,000,000 | 298,000,000 | 1,041,000,000 | 0 | 0 | 0 | 0 | 29,461,000,000 | 21,711,000,000 | 0 | 35,000,000 | 29,461,000,000 | 21,489,000,000 | 0 | 187,000,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,041,000,000 | 2,783,000,000 | 0 | 0 | 1,041,000,000 | 2,783,000,000 | 0 | 0 | 0 | 0 | 56,248,000,000 | 66,044,000,000 | 25,648,000,000 | 29,556,000,000 | 30,600,000,000 | 36,488,000,000 | 0 | 0 | 0 | 0 | 21,512,000,000 | 38,609,000,000 | 0 | 0 | 21,512,000,000 | 38,609,000,000 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28,230,000,000 | 27,896,000,000 | 0 | 0 | 27,409,000,000 | 0 | 821,000,000 | 27,896,000,000 | 0 | 0 | 27,400,000,000 | 12,245,000,000 | 12,971,000,000 | 0 | 0 | 11,978,000,000 | 12,843,000,000 | 267,000,000 | 128,000,000 | 0 | 0 | 3,142,000,000 | 2,771,000,000 | 3,142,000,000 | 2,733,000,000 | 0 | 38,000,000 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans, at fair value | ' | ' | ' | ' | ' | ' | 0 | 0 | 80,000,000 | 273,000,000 | 1,931,000,000 | 2,282,000,000 | 0 | 0 | 2,011,000,000 | 2,555,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mortgage servicing rights | 9,614,000,000 | 7,614,000,000 | 7,223,000,000 | 13,649,000,000 | 9,614,000,000 | 7,614,000,000 | 0 | 0 | 0 | 0 | 9,614,000,000 | 7,614,000,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,819,000,000 | 4,766,000,000 | 718,000,000 | 253,000,000 | 9,650,000,000 | 11,439,000,000 | 0 | 0 | 15,187,000,000 | 16,458,000,000 | 7,509,000,000 | 7,759,000,000 | 606,000,000 | 578,000,000 | 429,000,000 | 0 | 6,474,000,000 | 7,181,000,000 | 0 | 0 | 7,678,000,000 | 8,699,000,000 | 4,213,000,000 | 4,188,000,000 | 289,000,000 | 253,000,000 | 3,176,000,000 | 4,258,000,000 | 0 | 0 | ' | ' | ' | ' |
Total assets measured at fair value on a recurring basis | ' | ' | ' | ' | 760,327,000,000 | 882,235,000,000 | 209,207,000,000 | 207,691,000,000 | 1,596,518,000,000 | 2,137,783,000,000 | 69,310,000,000 | 98,123,000,000 | -1,114,708,000,000 | -1,561,362,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 91,500,000,000 | 119,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deposits | ' | ' | ' | ' | ' | ' | 0 | 0 | 4,369,000,000 | 3,750,000,000 | 2,255,000,000 | 1,983,000,000 | 0 | 0 | 6,624,000,000 | 5,733,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements | ' | ' | ' | ' | ' | ' | 0 | 0 | 5,426,000,000 | 4,388,000,000 | 0 | 0 | 0 | 0 | 5,426,000,000 | 4,388,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other borrowed funds | 27,994,000,000 | 26,636,000,000 | ' | ' | ' | ' | 0 | 0 | 11,232,000,000 | 9,972,000,000 | 2,074,000,000 | 1,619,000,000 | 0 | 0 | 13,306,000,000 | 11,591,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trading liabilities | ' | ' | ' | ' | 137,744,000,000 | 131,918,000,000 | 62,424,000,000 | 48,563,000,000 | 1,159,799,000,000 | 1,605,667,000,000 | 18,356,000,000 | 20,545,000,000 | -1,102,835,000,000 | -1,542,857,000,000 | ' | ' | ' | ' | 80,430,000,000 | 61,262,000,000 | 61,262,000,000 | 47,469,000,000 | 19,055,000,000 | 13,588,000,000 | 113,000,000 | 205,000,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 57,314,000,000 | 70,656,000,000 | 1,162,000,000 | 1,094,000,000 | 1,140,744,000,000 | 1,592,079,000,000 | 18,243,000,000 | 20,340,000,000 | -1,102,835,000,000 | -1,542,857,000,000 | 13,283,000,000 | 24,906,000,000 | 321,000,000 | 490,000,000 | 822,014,000,000 | 1,256,989,000,000 | 3,019,000,000 | 3,295,000,000 | -812,071,000,000 | -1,235,868,000,000 | 2,281,000,000 | 2,504,000,000 | 0 | 0 | 78,731,000,000 | 95,411,000,000 | 3,671,000,000 | 4,616,000,000 | -80,121,000,000 | -97,523,000,000 | 15,947,000,000 | 18,601,000,000 | 443,000,000 | 428,000,000 | 156,838,000,000 | 155,323,000,000 | 2,844,000,000 | 4,801,000,000 | -144,178,000,000 | -141,951,000,000 | 14,719,000,000 | 11,819,000,000 | 0 | 0 | 46,552,000,000 | 37,808,000,000 | 8,102,000,000 | 6,727,000,000 | -39,935,000,000 | -32,716,000,000 | 1,200,000,000 | 11,084,000,000 | 12,826,000,000 | 398,000,000 | 176,000,000 | 36,609,000,000 | 46,548,000,000 | 607,000,000 | 901,000,000 | -26,530,000,000 | -34,799,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable and other liabilities | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | 0 | 25,000,000 | 36,000,000 | 0 | 0 | 25,000,000 | 36,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beneficial interests issued by consolidated VIEs, at fair value | ' | ' | ' | ' | ' | ' | 0 | 0 | 756,000,000 | 245,000,000 | 1,240,000,000 | 925,000,000 | 0 | 0 | ' | ' | 1,996,000,000 | 1,170,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | ' | ' | ' | ' | ' | ' | 0 | 0 | 18,870,000,000 | 22,312,000,000 | 10,008,000,000 | 8,476,000,000 | 0 | 0 | 28,878,000,000 | 30,788,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total liabilities measured at fair value on a recurring basis | ' | ' | ' | ' | 193,999,000,000 | 185,624,000,000 | 62,424,000,000 | 48,563,000,000 | 1,200,452,000,000 | 1,646,334,000,000 | 33,958,000,000 | 33,584,000,000 | -1,102,835,000,000 | -1,542,857,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value assets and liabilities measured on recurring basis - supplemental data | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction in level 3 derivative receivable and derivative payable balances | 7,600,000,000 | 7,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Costs of the private equity investment portfolio | 8,000,000,000 | 8,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment valued at net asset value | ' | ' | ' | ' | 3,200,000,000 | 4,900,000,000 | ' | ' | 899,000,000 | 1,100,000,000 | 2,300,000,000 | 3,800,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Level Three To Level Two Transfers Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000,000 | 1,800,000,000 | 2,600,000,000 | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $113,900,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_Measurement_Level_3
Fair Value Measurement - Level 3 Inputs (Details 1) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Long-term debt, other borrowed funds, and deposits [Member] | Long-term debt, other borrowed funds, and deposits [Member] | Long-term debt, other borrowed funds, and deposits [Member] | Long-term debt, other borrowed funds, and deposits [Member] | Residential mortgage-backed securities and loans [Member] | Residential mortgage-backed securities and loans [Member] | Residential mortgage-backed securities and loans [Member] | Commercial mortgage-backed securities and loans [Member] | Commercial mortgage-backed securities and loans [Member] | Commercial mortgage-backed securities and loans [Member] | Corporate debt securities, obligations of U.S. states and municipalities, and other [Member] | Corporate debt securities, obligations of U.S. states and municipalities, and other [Member] | Corporate debt securities, obligations of U.S. states and municipalities, and other [Member] | Corporate debt securities, obligations of U.S. states and municipalities, and other [Member] | Corporate debt securities, obligations of U.S. states and municipalities, and other [Member] | Corporate debt securities, obligations of U.S. states and municipalities, and other [Member] | Interest rate derivative [Member] | Interest rate derivative [Member] | Interest rate derivative [Member] | Interest rate derivative [Member] | Interest rate derivative [Member] | Interest rate derivative [Member] | Credit derivatives [Member] | Credit derivatives [Member] | Credit derivatives [Member] | Credit derivatives [Member] | Credit derivatives [Member] | Credit derivatives [Member] | Foreign exchange derivative [Member] | Foreign exchange derivative [Member] | Foreign exchange derivative [Member] | Foreign exchange derivative [Member] | Foreign exchange derivative [Member] | Foreign exchange derivative [Member] | Equity derivative [Member] | Equity derivative [Member] | Equity derivative [Member] | Equity derivative [Member] | Equity derivative [Member] | Equity derivative [Member] | Commodity derivative [Member] | Commodity derivative [Member] | Commodity derivative [Member] | Commodity derivative [Member] | Commodity derivative [Member] | Commodity derivative [Member] | Collateralized loan obligations [Member] | Collateralized loan obligations [Member] | Collateralized loan obligations [Member] | Collateralized loan obligations [Member] | Collateralized loan obligations [Member] | Collateralized loan obligations [Member] | Collateralized loan obligations [Member] | Mortgage servicing rights [Member] | Mortgage servicing rights [Member] | Mortgage servicing rights [Member] | Mortgage servicing rights [Member] | Private equity investments [Member] | Private equity investments [Member] | Private equity investments [Member] | Private equity investments [Member] | Private equity investments [Member] | Private equity investments [Member] | Private equity investments [Member] | Private equity investments [Member] | Private equity investments [Member] | Private equity investments [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | ||
Discounted cash flows [Member] | Discounted cash flows [Member] | Option pricing [Member] | Option pricing [Member] | Discounted cash flows [Member] | Discounted cash flows [Member] | Discounted cash flows [Member] | Discounted cash flows [Member] | Discounted cash flows [Member] | Discounted cash flows [Member] | Discounted cash flows [Member] | Discounted cash flows [Member] | Discounted cash flows [Member] | Market comparables [Member] | Market comparables [Member] | Market comparables [Member] | Option pricing [Member] | Option pricing [Member] | Discounted cash flows [Member] | Discounted cash flows [Member] | Option pricing [Member] | Option pricing [Member] | Option pricing [Member] | Option pricing [Member] | Discounted cash flows [Member] | Discounted cash flows [Member] | Discounted cash flows [Member] | Discounted cash flows [Member] | Discounted cash flows [Member] | Discounted cash flows [Member] | Market comparables [Member] | Market comparables [Member] | Market comparables [Member] | Private equity direct investments [Member] | Private equity direct investments [Member] | Private equity direct investments [Member] | Private equity direct investments [Member] | Private equity fund investments [Member] | Private equity fund investments [Member] | Mortgage servicing rights [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | ||||||||||||||||||||||||||||||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Weighted Average [Member] | Minimum [Member] | Maximum [Member] | Weighted Average [Member] | Minimum [Member] | Maximum [Member] | Weighted Average [Member] | Minimum [Member] | Maximum [Member] | Weighted Average [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Weighted Average [Member] | Minimum [Member] | Maximum [Member] | Weighted Average [Member] | Market comparables [Member] | Market comparables [Member] | Market comparables [Member] | Market comparables [Member] | Discount to Net Asset Value Valuation Technique [Member] | Net asset value [Member] | Credit Derivatives with Underlying Mortgage Risk [Member] | Credit Derivatives with Underlying Asset-backed Securities Risk [Member] | Long-term debt, other borrowed funds, and deposits [Member] | Long-term debt, other borrowed funds, and deposits [Member] | Residential mortgage-backed securities and loans [Member] | Commercial mortgage-backed securities and loans [Member] | Corporate debt securities, obligations of U.S. states and municipalities, and other [Member] | Corporate debt securities, obligations of U.S. states and municipalities, and other [Member] | Collateralized loan obligations [Member] | Collateralized loan obligations [Member] | ||||||||||||||||||||||||||||||||||||
Minimum [Member] | Maximum [Member] | Weighted Average [Member] | Discounted cash flows [Member] | Option pricing [Member] | Discounted cash flows [Member] | Market comparables [Member] | Discounted cash flows [Member] | Market comparables [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11,089,000,000 | $1,204,000,000 | $15,209,000,000 | $5,843,000,000 | $821,000,000 | $487,000,000 |
Asset fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,379,000,000 | 3,322,000,000 | 3,561,000,000 | 2,836,000,000 | ' | ' | 95,000,000 | 1,873,000,000 | 7,732,000,000 | 5,386,000,000 | ' | ' | -1,200,000,000 | -1,750,000,000 | -1,263,000,000 | -614,000,000 | ' | ' | -1,063,000,000 | -1,806,000,000 | -3,105,000,000 | -2,446,000,000 | ' | ' | 115,000,000 | 254,000,000 | -687,000,000 | -805,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,614,000,000 | 7,614,000,000 | 7,223,000,000 | 13,649,000,000 | 6,474,000,000 | 7,181,000,000 | 6,751,000,000 | 7,862,000,000 | 4,872,000,000 | ' | ' | ' | 757,000,000 | 1,602,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liability fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 193,999,000,000 | 185,624,000,000 | ' | 33,958,000,000 | 33,584,000,000 | ' | ' | 1,055,000,000 | 13,282,000,000 | ' | ' | ' | ' | ' | ' |
Discount rate | ' | ' | ' | ' | ' | 3.00% | 18.00% | 7.00% | 6.00% | 29.00% | 11.00% | 1.00% | 40.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepayment rate | ' | ' | ' | ' | ' | 0.00% | 15.00% | 7.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conditional default rate | ' | ' | ' | ' | ' | 0.00% | 100.00% | 26.00% | 0.00% | 100.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss severity | ' | ' | ' | ' | ' | 0.00% | 100.00% | 21.00% | 0.00% | 40.00% | 33.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' | 40.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit spread | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.88% | 2.55% | 1.54% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.14% | 5.75% | 2.34% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | 122 | 95 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 114 | 88 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate correlation | ' | ' | ' | -75.00% | 95.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -75.00% | 95.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate spread volatility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liquidity adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 37.00% | 11.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign exchange correlation | ' | ' | ' | 0.00% | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45.00% | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity correlation | ' | ' | ' | -50.00% | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit correlation | ' | 34.00% | 82.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 34.00% | 82.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity volatility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | 55.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Inputs, Forward Commodity Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20 | 160 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
EBITDA multiple | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | 14.7 | 8.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Level 3 Analysis - Supplemental Data: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trading Securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 374,664,000,000 | 450,028,000,000 | ' | 45,793,000,000 | 47,872,000,000 | 735,000,000 | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Trading liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 137,744,000,000 | 131,918,000,000 | ' | 18,356,000,000 | 20,545,000,000 | 644,000,000 | 890,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (decrease) in level 3 assets | -28,800,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,200,000,000 | ' | ' | ' | ' | ' | -2,700,000,000 | ' | ' | ' | ' | ' | -1,400,000,000 | ' | ' | ' | ' | ' | 2,100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total realized/unrealized gains/(losses) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,358,000,000 | $6,930,000,000 | $5,205,000,000 | ' | ' | ' | ($1,697,000,000) | ($4,487,000,000) | $2,240,000,000 | ' | ' | ' | ($101,000,000) | ($800,000,000) | ($1,913,000,000) | ' | ' | ' | $2,587,000,000 | $168,000,000 | ($60,000,000) | ' | ' | ' | $816,000,000 | ($673,000,000) | $596,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($635,000,000) | ($7,119,000,000) | ' | $645,000,000 | $420,000,000 | $943,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,612,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_Measurement_Changes
Fair Value Measurement - Changes in Level 3 Recurring Measurements (Details 2) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Level 3 Rollforward Supplemental Data: | ' | ' | ' |
Level 3 liabilities as a percentage of total firm liabilities at fair value | 18.00% | 18.00% | 22.00% |
Deposits [Member] | ' | ' | ' |
Liabilities | ' | ' | ' |
Beginning balance | $1,983 | $1,418 | $773 |
Total realized/unrealized (gains)/losses | -82 | 212 | 15 |
Purchases | 0 | 0 | 0 |
Sales | 0 | 0 | 0 |
Issuances | 1,248 | 1,236 | 433 |
Settlements | -222 | -380 | -386 |
Transfers into and/or out of level 3 | -672 | -503 | 583 |
Ending balance | 2,255 | 1,983 | 1,418 |
Change in unrealized (gains)/losses related to financial instruments held | -88 | 185 | 4 |
Other borrowed funds [Member] | ' | ' | ' |
Liabilities | ' | ' | ' |
Beginning balance | 1,619 | 1,507 | 1,384 |
Total realized/unrealized (gains)/losses | -177 | 148 | -244 |
Purchases | 0 | 0 | 0 |
Sales | 0 | 0 | 0 |
Issuances | 7,108 | 1,646 | 1,597 |
Settlements | -6,845 | -1,774 | -834 |
Transfers into and/or out of level 3 | 369 | 92 | -396 |
Ending balance | 2,074 | 1,619 | 1,507 |
Change in unrealized (gains)/losses related to financial instruments held | 291 | 72 | -85 |
Total debt and equity instruments [Member] | ' | ' | ' |
Liabilities | ' | ' | ' |
Beginning balance | 205 | 211 | 54 |
Total realized/unrealized (gains)/losses | -83 | -16 | 17 |
Purchases | -2,418 | -2,875 | -533 |
Sales | 2,594 | 2,940 | 778 |
Issuances | 0 | 0 | 0 |
Settlements | -54 | -50 | -109 |
Transfers into and/or out of level 3 | -131 | -5 | 4 |
Ending balance | 113 | 205 | 211 |
Change in unrealized (gains)/losses related to financial instruments held | -100 | -12 | -7 |
Accounts payable and other liabilities [Member] | ' | ' | ' |
Liabilities | ' | ' | ' |
Beginning balance | 36 | 51 | 236 |
Total realized/unrealized (gains)/losses | -2 | 1 | -61 |
Purchases | 0 | 0 | 0 |
Sales | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 |
Settlements | -9 | -16 | -124 |
Transfers into and/or out of level 3 | 0 | 0 | 0 |
Ending balance | 25 | 36 | 51 |
Change in unrealized (gains)/losses related to financial instruments held | -2 | 1 | 5 |
Beneficial interests issued by consolidated VIEs [Member] | ' | ' | ' |
Liabilities | ' | ' | ' |
Beginning balance | 925 | 791 | 873 |
Total realized/unrealized (gains)/losses | 174 | 181 | 17 |
Purchases | 0 | 0 | 0 |
Sales | 0 | 0 | 0 |
Issuances | 353 | 221 | 580 |
Settlements | -212 | -268 | -679 |
Transfers into and/or out of level 3 | 0 | 0 | 0 |
Ending balance | 1,240 | 925 | 791 |
Change in unrealized (gains)/losses related to financial instruments held | 167 | 143 | -15 |
Long-term debt [Member] | ' | ' | ' |
Liabilities | ' | ' | ' |
Beginning balance | 8,476 | 10,310 | 13,044 |
Total realized/unrealized (gains)/losses | -435 | 328 | 60 |
Purchases | 0 | 0 | 0 |
Sales | 0 | 0 | 0 |
Issuances | 6,830 | 3,662 | 2,564 |
Settlements | -4,362 | -4,511 | -3,218 |
Transfers into and/or out of level 3 | -501 | -1,313 | -2,140 |
Ending balance | 10,008 | 8,476 | 10,310 |
Change in unrealized (gains)/losses related to financial instruments held | -85 | -101 | 288 |
Other Debt and Equity Instruments [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 863 | 880 | 930 |
Total realized/unrealized gains/(losses) | 558 | 186 | 48 |
Purchases | 659 | 68 | 36 |
Sales | -95 | -108 | -39 |
Settlements | -120 | -163 | -95 |
Transfers into and/or out of level 3 | 135 | 0 | 0 |
Fair Value, Ending Balance | 2,000 | 863 | 880 |
Change in unrealized gains/(losses) related to financial instruments held | 1,074 | 180 | 79 |
Total debt and equity instruments [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 25,639 | 32,967 | 34,554 |
Total realized/unrealized gains/(losses) | 2,237 | 1,251 | 980 |
Purchases | 25,273 | 19,087 | 20,904 |
Sales | -20,815 | -18,741 | -18,200 |
Settlements | -3,867 | -7,928 | -5,083 |
Transfers into and/or out of level 3 | -1,243 | -997 | -188 |
Fair Value, Ending Balance | 27,224 | 25,639 | 32,967 |
Change in unrealized gains/(losses) related to financial instruments held | 2,420 | 1,240 | 308 |
Total debt instruments [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 23,662 | 30,910 | 31,939 |
Total realized/unrealized gains/(losses) | 1,724 | 1,274 | 665 |
Purchases | 24,286 | 18,559 | 20,688 |
Sales | -20,446 | -18,254 | -17,620 |
Settlements | -3,612 | -7,753 | -4,636 |
Transfers into and/or out of level 3 | -1,279 | -1,074 | -126 |
Fair Value, Ending Balance | 24,335 | 23,662 | 30,910 |
Change in unrealized gains/(losses) related to financial instruments held | 1,304 | 1,172 | -49 |
Mortgage-backed securities [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 2,368 | 2,640 | 2,930 |
Total realized/unrealized gains/(losses) | 690 | -52 | 170 |
Purchases | 2,440 | 1,279 | 1,532 |
Sales | -2,931 | -1,111 | -1,444 |
Settlements | -399 | -265 | -435 |
Transfers into and/or out of level 3 | -5 | -123 | -113 |
Fair Value, Ending Balance | 2,163 | 2,368 | 2,640 |
Change in unrealized gains/(losses) related to financial instruments held | 401 | -92 | -27 |
U.S. government agencies [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 498 | 86 | 174 |
Total realized/unrealized gains/(losses) | 169 | -44 | 24 |
Purchases | 819 | 575 | 28 |
Sales | -381 | -103 | -39 |
Settlements | -100 | -16 | -43 |
Transfers into and/or out of level 3 | 0 | 0 | -58 |
Fair Value, Ending Balance | 1,005 | 498 | 86 |
Change in unrealized gains/(losses) related to financial instruments held | 200 | -21 | -51 |
Residential mortgage-backed securities [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 663 | 796 | 687 |
Total realized/unrealized gains/(losses) | 407 | 151 | 109 |
Purchases | 780 | 417 | 708 |
Sales | -1,028 | -533 | -432 |
Settlements | -91 | -145 | -221 |
Transfers into and/or out of level 3 | -5 | -23 | -55 |
Fair Value, Ending Balance | 726 | 663 | 796 |
Change in unrealized gains/(losses) related to financial instruments held | 205 | 74 | -9 |
Commercial mortgage [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 1,207 | 1,758 | 2,069 |
Total realized/unrealized gains/(losses) | 114 | -159 | 37 |
Purchases | 841 | 287 | 796 |
Sales | -1,522 | -475 | -973 |
Settlements | -208 | -104 | -171 |
Transfers into and/or out of level 3 | 0 | -100 | 0 |
Fair Value, Ending Balance | 432 | 1,207 | 1,758 |
Change in unrealized gains/(losses) related to financial instruments held | -4 | -145 | 33 |
Obligations of U.S. states and municipalities [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 1,436 | 1,619 | 2,257 |
Total realized/unrealized gains/(losses) | 71 | 37 | 9 |
Purchases | 472 | 336 | 807 |
Sales | -251 | -552 | -1,465 |
Settlements | -346 | -4 | -1 |
Transfers into and/or out of level 3 | 0 | 0 | 12 |
Fair Value, Ending Balance | 1,382 | 1,436 | 1,619 |
Change in unrealized gains/(losses) related to financial instruments held | 18 | -15 | -11 |
Non-U.S. government debt securities [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 67 | 104 | 202 |
Total realized/unrealized gains/(losses) | 4 | -6 | 35 |
Purchases | 1,449 | 661 | 552 |
Sales | -1,479 | -668 | -531 |
Settlements | -8 | -24 | -80 |
Transfers into and/or out of level 3 | 110 | 0 | -74 |
Fair Value, Ending Balance | 143 | 67 | 104 |
Change in unrealized gains/(losses) related to financial instruments held | -1 | -5 | 38 |
Corporate debt securities [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 5,308 | 6,373 | 4,946 |
Total realized/unrealized gains/(losses) | 103 | 187 | 32 |
Purchases | 7,602 | 8,391 | 8,080 |
Sales | -5,975 | -6,186 | -5,939 |
Settlements | -1,882 | -3,045 | -1,005 |
Transfers into and/or out of level 3 | 764 | -412 | 259 |
Fair Value, Ending Balance | 5,920 | 5,308 | 6,373 |
Change in unrealized gains/(losses) related to financial instruments held | 466 | 689 | 26 |
Loans [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 10,787 | 12,209 | 13,144 |
Total realized/unrealized gains/(losses) | 665 | 836 | 329 |
Purchases | 10,411 | 5,342 | 5,532 |
Sales | -7,431 | -3,269 | -3,873 |
Settlements | -685 | -3,801 | -2,691 |
Transfers into and/or out of level 3 | -292 | -530 | -232 |
Fair Value, Ending Balance | 13,455 | 10,787 | 12,209 |
Change in unrealized gains/(losses) related to financial instruments held | 315 | 411 | 142 |
Asset-backed securities [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 3,696 | 7,965 | 8,460 |
Total realized/unrealized gains/(losses) | 191 | 272 | 90 |
Purchases | 1,912 | 2,550 | 4,185 |
Sales | -2,379 | -6,468 | -4,368 |
Settlements | -292 | -614 | -424 |
Transfers into and/or out of level 3 | -1,856 | -9 | 22 |
Fair Value, Ending Balance | 1,272 | 3,696 | 7,965 |
Change in unrealized gains/(losses) related to financial instruments held | 105 | 184 | -217 |
Equity securities [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 1,114 | 1,177 | 1,685 |
Total realized/unrealized gains/(losses) | -41 | -209 | 267 |
Purchases | 328 | 460 | 180 |
Sales | -266 | -379 | -541 |
Settlements | -135 | -12 | -352 |
Transfers into and/or out of level 3 | -115 | 77 | -62 |
Fair Value, Ending Balance | 885 | 1,114 | 1,177 |
Change in unrealized gains/(losses) related to financial instruments held | 46 | -112 | 278 |
Physical Commodities [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 0 | ' | ' |
Total realized/unrealized gains/(losses) | -4 | ' | ' |
Purchases | 0 | ' | ' |
Sales | -8 | ' | ' |
Settlements | 0 | ' | ' |
Transfers into and/or out of level 3 | 16 | ' | ' |
Fair Value, Ending Balance | 4 | ' | ' |
Change in unrealized gains/(losses) related to financial instruments held | -4 | ' | ' |
Total net derivative receivables [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 1,893 | 6,238 | 4,357 |
Total realized/unrealized gains/(losses) | 2,963 | 1,138 | 6,068 |
Purchases | 3,485 | 2,392 | 1,767 |
Sales | -4,022 | -2,977 | -2,051 |
Settlements | -4,525 | -5,874 | -3,789 |
Transfers into and/or out of level 3 | 532 | 976 | -114 |
Fair Value, Ending Balance | 326 | 1,893 | 6,238 |
Change in unrealized gains/(losses) related to financial instruments held | -170 | -2,903 | 2,439 |
Interest rate derivative [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 3,322 | 3,561 | 2,836 |
Total realized/unrealized gains/(losses) | 1,358 | 6,930 | 5,205 |
Purchases | 344 | 406 | 511 |
Sales | -220 | -194 | -219 |
Settlements | -2,391 | -7,071 | -4,534 |
Transfers into and/or out of level 3 | -34 | -310 | -238 |
Fair Value, Ending Balance | 2,379 | 3,322 | 3,561 |
Change in unrealized gains/(losses) related to financial instruments held | 107 | 905 | 1,497 |
Credit derivatives [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 1,873 | 7,732 | 5,386 |
Total realized/unrealized gains/(losses) | -1,697 | -4,487 | 2,240 |
Purchases | 115 | 124 | 22 |
Sales | -12 | -84 | -13 |
Settlements | -357 | -1,416 | 116 |
Transfers into and/or out of level 3 | 173 | 4 | -19 |
Fair Value, Ending Balance | 95 | 1,873 | 7,732 |
Change in unrealized gains/(losses) related to financial instruments held | -1,449 | -3,271 | 2,744 |
Foreign exchange derivative [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | -1,750 | -1,263 | -614 |
Total realized/unrealized gains/(losses) | -101 | -800 | -1,913 |
Purchases | 3 | 112 | 191 |
Sales | -4 | -184 | -20 |
Settlements | 683 | 436 | 886 |
Transfers into and/or out of level 3 | -31 | -51 | 207 |
Fair Value, Ending Balance | -1,200 | -1,750 | -1,263 |
Change in unrealized gains/(losses) related to financial instruments held | -110 | -957 | -1,878 |
Equity derivative [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | -1,806 | -3,105 | -2,446 |
Total realized/unrealized gains/(losses) | 2,587 | 168 | -60 |
Purchases | 2,918 | 1,676 | 715 |
Sales | -3,783 | -2,579 | -1,449 |
Settlements | -1,353 | 899 | 37 |
Transfers into and/or out of level 3 | 374 | 1,135 | 98 |
Fair Value, Ending Balance | -1,063 | -1,806 | -3,105 |
Change in unrealized gains/(losses) related to financial instruments held | 872 | 580 | -132 |
Commodity derivative [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 254 | -687 | -805 |
Total realized/unrealized gains/(losses) | 816 | -673 | 596 |
Purchases | 105 | 74 | 328 |
Sales | -3 | 64 | -350 |
Settlements | -1,107 | 1,278 | -294 |
Transfers into and/or out of level 3 | 50 | 198 | -162 |
Fair Value, Ending Balance | 115 | 254 | -687 |
Change in unrealized gains/(losses) related to financial instruments held | 410 | -160 | 208 |
Available-for-sale Securities [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 28,916 | 25,486 | 14,287 |
Total realized/unrealized gains/(losses) | 17 | 145 | -240 |
Total realized/unrealized gains/(losses) available for sale securities | 30 | 190 | -95 |
Purchases | 1,087 | 9,947 | 15,325 |
Sales | -273 | -3,474 | -1,476 |
Settlements | -63 | -3,349 | -2,555 |
Transfers into and/or out of level 3 | -27,375 | 116 | 0 |
Fair Value, Ending Balance | 2,322 | 28,916 | 25,486 |
Change in unrealized gains/(losses) related to financial instruments held | 29 | 177 | -98 |
Level 3 Rollforward Supplemental Data: | ' | ' | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | 13 | 45 | 145 |
Asset-backed AFS securities [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 28,024 | 24,958 | 13,775 |
Total realized/unrealized gains/(losses) | 4 | 135 | -95 |
Purchases | 579 | 9,280 | 15,268 |
Sales | -57 | -3,361 | -1,461 |
Settlements | -57 | -3,104 | -2,529 |
Transfers into and/or out of level 3 | -27,405 | 116 | 0 |
Fair Value, Ending Balance | 1,088 | 28,024 | 24,958 |
Change in unrealized gains/(losses) related to financial instruments held | 4 | 118 | -106 |
Other Available For Sale Securities [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 892 | 528 | 512 |
Total realized/unrealized gains/(losses) | 26 | 55 | 0 |
Purchases | 508 | 667 | 57 |
Sales | -216 | -113 | -15 |
Settlements | -6 | -245 | -26 |
Transfers into and/or out of level 3 | 30 | 0 | 0 |
Fair Value, Ending Balance | 1,234 | 892 | 528 |
Change in unrealized gains/(losses) related to financial instruments held | 25 | 59 | 8 |
Loans [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 2,282 | 1,647 | 1,466 |
Total realized/unrealized gains/(losses) | 81 | 695 | 504 |
Purchases | 1,065 | 1,536 | 326 |
Sales | -191 | -22 | -9 |
Settlements | -1,306 | -1,718 | -639 |
Transfers into and/or out of level 3 | 0 | 144 | -1 |
Fair Value, Ending Balance | 1,931 | 2,282 | 1,647 |
Change in unrealized gains/(losses) related to financial instruments held | -21 | 12 | 484 |
Mortgage servicing rights [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 7,614 | 7,223 | 13,649 |
Total realized/unrealized gains/(losses) | ' | -635 | -7,119 |
Purchases | 2,215 | 2,833 | 2,603 |
Sales | -725 | -579 | 0 |
Settlements | -1,102 | -1,228 | -1,910 |
Transfers into and/or out of level 3 | 0 | 0 | 0 |
Fair Value, Ending Balance | 9,614 | 7,614 | 7,223 |
Change in unrealized gains/(losses) related to financial instruments held | 1,612 | -635 | -7,119 |
Private equity investments [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 7,181 | 6,751 | 7,862 |
Total realized/unrealized gains/(losses) | 645 | 420 | 943 |
Purchases | 673 | 1,545 | 1,452 |
Sales | -1,137 | -512 | -2,746 |
Settlements | -687 | -977 | -594 |
Transfers into and/or out of level 3 | -201 | -46 | -166 |
Fair Value, Ending Balance | 6,474 | 7,181 | 6,751 |
Change in unrealized gains/(losses) related to financial instruments held | 262 | 333 | -242 |
All other assets [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Fair Value, Beginning balance | 4,258 | 4,374 | 4,179 |
Total realized/unrealized gains/(losses) | 98 | -195 | -54 |
Purchases | 272 | 818 | 938 |
Sales | -730 | -238 | -139 |
Settlements | -722 | -501 | -521 |
Transfers into and/or out of level 3 | 0 | 0 | -29 |
Fair Value, Ending Balance | 3,176 | 4,258 | 4,374 |
Change in unrealized gains/(losses) related to financial instruments held | 53 | -200 | -83 |
Recurring [Member] | Mortgage servicing rights [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Total realized/unrealized gains/(losses) | $1,612 | ' | ' |
Fair_Value_Measurement_Level_31
Fair Value Measurement - Level 3 Analysis (Details 3) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Level 3 Analysis - Supplemental Data [Abstract] | ' | ' | ' |
Percentage of level 3 assets in total Firm assets | 3.10% | ' | ' |
Increase (decrease) in level 3 assets | ($28,800,000,000) | ' | ' |
Equity derivative [Member] | ' | ' | ' |
Level 3 Analysis - Supplemental Data [Abstract] | ' | ' | ' |
Increase (decrease) in level 3 assets | 2,100,000,000 | ' | ' |
Total realized/unrealized gains/(losses) | 2,587,000,000 | 168,000,000 | -60,000,000 |
Interest rate derivative [Member] | ' | ' | ' |
Level 3 Analysis - Supplemental Data [Abstract] | ' | ' | ' |
Increase (decrease) in level 3 assets | -1,200,000,000 | ' | ' |
Total realized/unrealized gains/(losses) | 1,358,000,000 | 6,930,000,000 | 5,205,000,000 |
All Other Asset Classes [Member] | ' | ' | ' |
Level 3 Analysis - Supplemental Data [Abstract] | ' | ' | ' |
Increase (decrease) in level 3 assets | -1,100,000,000 | ' | ' |
Total realized/unrealized gains/(losses) | 98,000,000 | -195,000,000 | -54,000,000 |
Asset-backed AFS securities [Member] | ' | ' | ' |
Level 3 Analysis - Supplemental Data [Abstract] | ' | ' | ' |
Increase (decrease) in level 3 assets | -27,000,000,000 | ' | ' |
Total realized/unrealized gains/(losses) | 4,000,000 | 135,000,000 | -95,000,000 |
Derivative receivables [Member] | ' | ' | ' |
Level 3 Analysis - Supplemental Data [Abstract] | ' | ' | ' |
Total realized/unrealized gains/(losses) | 2,963,000,000 | 1,138,000,000 | 6,068,000,000 |
Total debt and equity instruments [Member] | ' | ' | ' |
Level 3 Analysis - Supplemental Data [Abstract] | ' | ' | ' |
Increase (decrease) in level 3 assets | 1,600,000,000 | ' | ' |
Total realized/unrealized gains/(losses) | 2,237,000,000 | 1,251,000,000 | 980,000,000 |
Mortgage servicing rights [Member] | ' | ' | ' |
Level 3 Analysis - Supplemental Data [Abstract] | ' | ' | ' |
Increase (decrease) in level 3 assets | 2,000,000,000 | ' | ' |
Total realized/unrealized gains/(losses) | ' | -635,000,000 | -7,119,000,000 |
Derivative [Member] | ' | ' | ' |
Level 3 Analysis - Supplemental Data [Abstract] | ' | ' | ' |
Increase (decrease) in level 3 assets | -3,700,000,000 | ' | ' |
Credit derivatives [Member] | ' | ' | ' |
Level 3 Analysis - Supplemental Data [Abstract] | ' | ' | ' |
Increase (decrease) in level 3 assets | -2,700,000,000 | ' | ' |
Total realized/unrealized gains/(losses) | -1,697,000,000 | -4,487,000,000 | 2,240,000,000 |
Foreign exchange derivative [Member] | ' | ' | ' |
Level 3 Analysis - Supplemental Data [Abstract] | ' | ' | ' |
Increase (decrease) in level 3 assets | -1,400,000,000 | ' | ' |
Total realized/unrealized gains/(losses) | -101,000,000 | -800,000,000 | -1,913,000,000 |
Recurring [Member] | ' | ' | ' |
Level 3 Analysis - Supplemental Data [Abstract] | ' | ' | ' |
Assets fair value | 760,327,000,000 | 882,235,000,000 | ' |
Recurring [Member] | Level 3 [Member] | ' | ' | ' |
Level 3 Analysis - Supplemental Data [Abstract] | ' | ' | ' |
Assets fair value | 69,310,000,000 | 98,123,000,000 | ' |
Recurring [Member] | Mortgage servicing rights [Member] | ' | ' | ' |
Level 3 Analysis - Supplemental Data [Abstract] | ' | ' | ' |
Total realized/unrealized gains/(losses) | $1,612,000,000 | ' | ' |
Fair_Value_Measurement_Credit_
Fair Value Measurement - Credit Adjustments Reflected on Balance Sheet (Details 4) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Credit adjustments [Abstract] | ' | ' | ' |
Derivative receivables balance | $65,759 | $74,983 | ' |
Derivative payables | 57,314 | 70,656 | ' |
Derivative Credit Risk Valuation Adjustment, Derivative Assets | -2,352 | -4,238 | ' |
Derivative Credit Risk and Funding Valuation Adjustments | -322 | ' | ' |
Derivative Credit Risk Valuation Adjustment, Derivative Liabilities | 715 | 830 | ' |
Structured Notes Balance Net Of DVA | 48,808 | 48,112 | ' |
Structured note credit adjustments | -271 | -835 | 927 |
Plain Vanilla Financial Instruments [Member] | ' | ' | ' |
Credit adjustments [Abstract] | ' | ' | ' |
Structured Notes Balance Net Of DVA | 1,146 | 1,100 | ' |
Structured Finance [Member] | ' | ' | ' |
Credit adjustments [Abstract] | ' | ' | ' |
Derivative Credit Risk and Funding Valuation Adjustments | 952 | ' | ' |
Derivative Credit Risk Valuation Adjustment, Derivative Liabilities | 1,375 | 1,712 | ' |
Credit Valuation Adjustment [Member] | ' | ' | ' |
Credit adjustments [Abstract] | ' | ' | ' |
Derivative credit adjustments | 1,886 | 2,698 | -2,574 |
Debit Valuation Adjustment and Funding Valuation Adjustment] [Member] | ' | ' | ' |
Credit adjustments [Abstract] | ' | ' | ' |
Derivative credit adjustments | -1,152 | ' | ' |
Structured note credit adjustments | -760 | ' | ' |
Debit valuation adjustment [Member] | ' | ' | ' |
Credit adjustments [Abstract] | ' | ' | ' |
Derivative credit adjustments | -115 | -590 | 538 |
Structured note credit adjustments | ($337) | ($340) | $899 |
Fair_Value_Measurement_Impact_
Fair Value Measurement - Impact of Credit Adjustments (Details 5) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Impact of credit adjustments on earnings [Abstract] | ' | ' | ' |
Structured note credit adjustments | ($271) | ($835) | $927 |
Credit Valuation Adjustment [Member] | ' | ' | ' |
Impact of credit adjustments on earnings [Abstract] | ' | ' | ' |
Derivative credit adjustments | 1,886 | 2,698 | -2,574 |
Debit Valuation Adjustment and Funding Valuation Adjustment] [Member] | ' | ' | ' |
Impact of credit adjustments on earnings [Abstract] | ' | ' | ' |
Derivative credit adjustments | -1,152 | ' | ' |
Structured note credit adjustments | -760 | ' | ' |
Debit valuation adjustment [Member] | ' | ' | ' |
Impact of credit adjustments on earnings [Abstract] | ' | ' | ' |
Derivative credit adjustments | -115 | -590 | 538 |
Structured note credit adjustments | ($337) | ($340) | $899 |
Fair_Value_Measurement_Nonrecu
Fair Value Measurement - Nonrecurring Basis (Details 6) (USD $) | 12 Months Ended | 0 Months Ended | |||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
Trade Finance Loans Reclassified To Held-For-Sale [Member] | Trade Finance Loans Reclassified To Held-For-Sale [Member] | Trade Finance Loans Reclassified To Held-For-Sale [Member] | Residential mortgage [Member] | Residential mortgage [Member] | Residential mortgage [Member] | Nonrecurring [Member] | Nonrecurring [Member] | Nonrecurring [Member] | Nonrecurring [Member] | Nonrecurring [Member] | Nonrecurring [Member] | Nonrecurring [Member] | Nonrecurring [Member] | ||||
Price Valuation Technique [Member] | Price Valuation Technique [Member] | Price Valuation Technique [Member] | Broker Price Opinion Valuation Technique [Member] | Broker Price Opinion Valuation Technique [Member] | Broker Price Opinion Valuation Technique [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | ||||||
Minimum [Member] | Maximum [Member] | Weighted Average [Member] | Minimum [Member] | Maximum [Member] | Weighted Average [Member] | Trade Finance Loans Reclassified To Held-For-Sale [Member] | Residential mortgage [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets, fair value, nonrecurring | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6,200 | $5,100 | $339 | $667 | $5,800 | $4,400 | $3,600 | $1,700 |
Fair value inputs, liquidation value discount | ' | ' | ' | ' | ' | ' | 17.00% | 62.00% | 29.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value option, changes in fair value gain (loss) | ($789) | ($1,600) | ($2,200) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value inputs, indicative pricing from external investors | ' | ' | ' | 0.00% | 1.00% | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_Measurement_Carryin
Fair Value Measurement - Carrying Value and Estimated Fair Value (Details 7) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Financial assets | ' | ' | ' | ' |
Cash and due from banks | $39,771,000,000 | $53,723,000,000 | $59,602,000,000 | $27,567,000,000 |
Deposits with banks | 316,051,000,000 | 121,814,000,000 | ' | ' |
Federal funds sold and securities purchased under resale agreements | 248,116,000,000 | 296,296,000,000 | ' | ' |
Securities, held-to-maturity | 23,731,000,000 | 8,000,000 | ' | ' |
Financial liabilities | ' | ' | ' | ' |
Commercial Paper | 57,848,000,000 | 55,367,000,000 | ' | ' |
Other borrowed funds | 27,994,000,000 | 26,636,000,000 | ' | ' |
Beneficial interest liability, at fair value | 49,617,000,000 | 63,191,000,000 | ' | ' |
Trading assets and liabilities average balances Abstract | ' | ' | ' | ' |
Trading assets - debt and equity instruments | 340,449,000,000 | 349,337,000,000 | 393,890,000,000 | ' |
Trading assets - derivative receivables | 72,629,000,000 | 85,744,000,000 | 90,003,000,000 | ' |
Trading liabilities - debt and equity instruments | 77,706,000,000 | 69,001,000,000 | 81,916,000,000 | ' |
Trading liabilities - derivative payables | 64,553,000,000 | 76,162,000,000 | 71,539,000,000 | ' |
Carrying value [Member] | ' | ' | ' | ' |
Financial assets | ' | ' | ' | ' |
Cash and due from banks | 39,800,000,000 | 53,700,000,000 | ' | ' |
Deposits with banks | 316,100,000,000 | 121,800,000,000 | ' | ' |
Accrued interest and accounts receivable | 65,200,000,000 | 60,900,000,000 | ' | ' |
Federal funds sold and securities purchased under resale agreements | 223,000,000,000 | 272,000,000,000 | ' | ' |
Securities borrowed | 107,700,000,000 | 108,800,000,000 | ' | ' |
Securities, held-to-maturity | 24,000,000,000 | 0 | ' | ' |
Loans, net of allowance for loan losses | 720,100,000,000 | 709,300,000,000 | ' | ' |
Other assets | 58,100,000,000 | 49,700,000,000 | ' | ' |
Financial liabilities | ' | ' | ' | ' |
Deposits | 1,281,100,000,000 | 1,187,900,000,000 | ' | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements | 175,700,000,000 | 235,700,000,000 | ' | ' |
Commercial Paper | 57,800,000,000 | 55,400,000,000 | ' | ' |
Other borrowed funds | 14,700,000,000 | 15,000,000,000 | ' | ' |
Accounts payable and other liabilities | 160,200,000,000 | 156,500,000,000 | ' | ' |
Beneficial interest liability, at fair value | 47,600,000,000 | 62,000,000,000 | ' | ' |
Long-term debt and junior subordinated deferrable interest debentures | 239,000,000,000 | 218,200,000,000 | ' | ' |
Wholesale lending related commitments | 700,000,000 | 700,000,000 | ' | ' |
Estimate of Fair Value | ' | ' | ' | ' |
Financial assets | ' | ' | ' | ' |
Cash and due from banks | 39,800,000,000 | 53,700,000,000 | ' | ' |
Deposits with banks | 316,100,000,000 | 121,800,000,000 | ' | ' |
Accrued interest and accounts receivable | 65,200,000,000 | 60,900,000,000 | ' | ' |
Federal funds sold and securities purchased under resale agreements | 223,000,000,000 | 272,000,000,000 | ' | ' |
Securities borrowed | 107,700,000,000 | 108,800,000,000 | ' | ' |
Securities, held-to-maturity | 23,700,000,000 | 0 | ' | ' |
Loans, net of allowance for loan losses | 720,200,000,000 | 711,800,000,000 | ' | ' |
Other assets | 58,800,000,000 | 50,100,000,000 | ' | ' |
Financial liabilities | ' | ' | ' | ' |
Deposits | 1,281,500,000,000 | 1,188,400,000,000 | ' | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements | 175,700,000,000 | 235,700,000,000 | ' | ' |
Commercial Paper | 57,800,000,000 | 55,400,000,000 | ' | ' |
Other borrowed funds | 14,700,000,000 | 15,000,000,000 | ' | ' |
Accounts payable and other liabilities | 160,000,000,000 | 156,300,000,000 | ' | ' |
Beneficial interest liability, at fair value | 47,500,000,000 | 62,100,000,000 | ' | ' |
Long-term debt and junior subordinated deferrable interest debentures | 246,800,000,000 | 225,400,000,000 | ' | ' |
Wholesale lending related commitments | 1,000,000,000 | 1,900,000,000 | ' | ' |
Estimate of Fair Value | Estimate of Fair Value, Level 1 Inputs [Member] | ' | ' | ' | ' |
Financial assets | ' | ' | ' | ' |
Cash and due from banks | 39,800,000,000 | 53,700,000,000 | ' | ' |
Deposits with banks | 309,700,000,000 | 114,100,000,000 | ' | ' |
Accrued interest and accounts receivable | 0 | 0 | ' | ' |
Federal funds sold and securities purchased under resale agreements | 0 | 0 | ' | ' |
Securities borrowed | 0 | 0 | ' | ' |
Securities, held-to-maturity | 0 | 0 | ' | ' |
Loans, net of allowance for loan losses | 0 | 0 | ' | ' |
Other assets | 0 | 0 | ' | ' |
Financial liabilities | ' | ' | ' | ' |
Deposits | 0 | 0 | ' | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | 0 | ' | ' |
Commercial Paper | 0 | 0 | ' | ' |
Other borrowed funds | 0 | 0 | ' | ' |
Accounts payable and other liabilities | 0 | 0 | ' | ' |
Beneficial interest liability, at fair value | 0 | 0 | ' | ' |
Long-term debt and junior subordinated deferrable interest debentures | 0 | 0 | ' | ' |
Wholesale lending related commitments | 0 | 0 | ' | ' |
Estimate of Fair Value | Estimate of Fair Value, Level 2 Inputs [Member] | ' | ' | ' | ' |
Financial assets | ' | ' | ' | ' |
Cash and due from banks | 0 | 0 | ' | ' |
Deposits with banks | 6,400,000,000 | 7,700,000,000 | ' | ' |
Accrued interest and accounts receivable | 64,900,000,000 | 60,300,000,000 | ' | ' |
Federal funds sold and securities purchased under resale agreements | 223,000,000,000 | 272,000,000,000 | ' | ' |
Securities borrowed | 107,700,000,000 | 108,800,000,000 | ' | ' |
Securities, held-to-maturity | 23,700,000,000 | 0 | ' | ' |
Loans, net of allowance for loan losses | 23,000,000,000 | 26,400,000,000 | ' | ' |
Other assets | 54,500,000,000 | 42,700,000,000 | ' | ' |
Financial liabilities | ' | ' | ' | ' |
Deposits | 1,280,300,000,000 | 1,187,200,000,000 | ' | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements | 175,700,000,000 | 235,700,000,000 | ' | ' |
Commercial Paper | 57,800,000,000 | 55,400,000,000 | ' | ' |
Other borrowed funds | 14,700,000,000 | 15,000,000,000 | ' | ' |
Accounts payable and other liabilities | 158,200,000,000 | 153,800,000,000 | ' | ' |
Beneficial interest liability, at fair value | 44,300,000,000 | 57,700,000,000 | ' | ' |
Long-term debt and junior subordinated deferrable interest debentures | 240,800,000,000 | 220,000,000,000 | ' | ' |
Wholesale lending related commitments | 0 | 0 | ' | ' |
Estimate of Fair Value | Estimate of Fair Value, Level 3 Inputs [Member] | ' | ' | ' | ' |
Financial assets | ' | ' | ' | ' |
Cash and due from banks | 0 | 0 | ' | ' |
Deposits with banks | 0 | 0 | ' | ' |
Accrued interest and accounts receivable | 300,000,000 | 600,000,000 | ' | ' |
Federal funds sold and securities purchased under resale agreements | 0 | 0 | ' | ' |
Securities borrowed | 0 | 0 | ' | ' |
Securities, held-to-maturity | 0 | 0 | ' | ' |
Loans, net of allowance for loan losses | 697,200,000,000 | 685,400,000,000 | ' | ' |
Other assets | 4,300,000,000 | 7,400,000,000 | ' | ' |
Financial liabilities | ' | ' | ' | ' |
Deposits | 1,200,000,000 | 1,200,000,000 | ' | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | 0 | ' | ' |
Commercial Paper | 0 | 0 | ' | ' |
Other borrowed funds | 0 | 0 | ' | ' |
Accounts payable and other liabilities | 1,800,000,000 | 2,500,000,000 | ' | ' |
Beneficial interest liability, at fair value | 3,200,000,000 | 4,400,000,000 | ' | ' |
Long-term debt and junior subordinated deferrable interest debentures | 6,000,000,000 | 5,400,000,000 | ' | ' |
Wholesale lending related commitments | $1,000,000,000 | $1,900,000,000 | ' | ' |
Fair_Value_Option_Changes_in_f
Fair Value Option - Changes in fair value under the fair value option (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Changes in fair value under the fair value option election | ' | ' | ' |
Federal funds sold and securities purchased under resale agreements | ($454) | $161 | $270 |
Securities borrowed | 10 | 10 | -61 |
Trading assets: | ' | ' | ' |
Debt and equity instruments, excluding loans | 589 | 520 | 47 |
Loans reported as trading assets: | ' | ' | ' |
Changes in instrument-specific credit risk | 1,184 | 1,570 | 760 |
Other changes in fair value | 1,700 | 7,487 | 5,390 |
Loans: | ' | ' | ' |
Changes in instrument-specific credit risk | 36 | -14 | 2 |
Other changes in fair value | 17 | 676 | 535 |
Other assets | 3 | -339 | -68 |
Deposits | 260 | -188 | -237 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 73 | -25 | -4 |
Other borrowed funds | -399 | 494 | 2,986 |
Trading liabilities | -46 | -41 | -57 |
Beneficial interests issued by consolidated VIEs | -278 | -166 | -83 |
Other liabilities | 2 | 0 | -8 |
Long-term debt: | ' | ' | ' |
Changes in instrument-specific credit risk related to structured notes | -271 | -835 | 927 |
Other changes in fair value | 1,280 | -1,025 | 322 |
Debit valuation adjustment [Member] | ' | ' | ' |
Long-term debt: | ' | ' | ' |
Changes in instrument-specific credit risk related to structured notes | -337 | -340 | 899 |
Principal transactions [Member] | ' | ' | ' |
Changes in fair value under the fair value option election | ' | ' | ' |
Federal funds sold and securities purchased under resale agreements | -454 | 161 | 270 |
Securities borrowed | 10 | 10 | -61 |
Trading assets: | ' | ' | ' |
Debt and equity instruments, excluding loans | 582 | 513 | 53 |
Loans reported as trading assets: | ' | ' | ' |
Changes in instrument-specific credit risk | 1,161 | 1,489 | 934 |
Other changes in fair value | -133 | -183 | 127 |
Loans: | ' | ' | ' |
Changes in instrument-specific credit risk | 36 | -14 | 2 |
Other changes in fair value | 17 | 676 | 535 |
Other assets | 32 | 0 | -49 |
Deposits | 260 | -188 | -237 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 73 | -25 | -4 |
Other borrowed funds | -399 | 494 | 2,986 |
Trading liabilities | -46 | -41 | -57 |
Beneficial interests issued by consolidated VIEs | -278 | -166 | -83 |
Other liabilities | 0 | 0 | -3 |
Long-term debt: | ' | ' | ' |
Changes in instrument-specific credit risk related to structured notes | -271 | -835 | 927 |
Other changes in fair value | 1,280 | -1,025 | 322 |
Other income [Member] | ' | ' | ' |
Changes in fair value under the fair value option election | ' | ' | ' |
Federal funds sold and securities purchased under resale agreements | 0 | 0 | 0 |
Securities borrowed | 0 | 0 | 0 |
Trading assets: | ' | ' | ' |
Debt and equity instruments, excluding loans | 7 | 7 | -6 |
Loans reported as trading assets: | ' | ' | ' |
Changes in instrument-specific credit risk | 23 | 81 | -174 |
Other changes in fair value | 1,833 | 7,670 | 5,263 |
Loans: | ' | ' | ' |
Changes in instrument-specific credit risk | 0 | 0 | 0 |
Other changes in fair value | 0 | 0 | 0 |
Other assets | -29 | -339 | -19 |
Deposits | 0 | 0 | 0 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | 0 | 0 |
Other borrowed funds | 0 | 0 | 0 |
Trading liabilities | 0 | 0 | 0 |
Beneficial interests issued by consolidated VIEs | 0 | 0 | 0 |
Other liabilities | 2 | 0 | -5 |
Long-term debt: | ' | ' | ' |
Changes in instrument-specific credit risk related to structured notes | 0 | 0 | 0 |
Other changes in fair value | $0 | $0 | $0 |
Fair_Value_Option_Aggregate_di
Fair Value Option - Aggregate differences (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Long-term debt | ' | ' |
Long-term debt | $267,889 | $249,024 |
Other guarantees and commitments [Member] | ' | ' |
Long-term beneficial interests | ' | ' |
Other guarantees and commitments, contractual amount | 6,786 | 6,780 |
Guarantor obligations, current carrying value | -99 | -75 |
Letters Of Credit Hedged By Derivative Transactions [Member] | Other guarantees and commitments [Member] | ' | ' |
Long-term beneficial interests | ' | ' |
Other guarantees and commitments, contractual amount | 4,500 | 4,500 |
Guarantor obligations, current carrying value | 99 | 75 |
Carrying value [Member] | ' | ' |
Loans | ' | ' |
Nonaccrual loans | 5,365 | 4,510 |
Total loans | 40,052 | 50,628 |
Carrying value [Member] | Trading assets [Member] | ' | ' |
Loans | ' | ' |
Nonaccrual loans | 5,156 | 4,217 |
All other performing loans | 33,069 | 44,084 |
Carrying value [Member] | Total loans [Member] | ' | ' |
Loans | ' | ' |
Nonaccrual loans | 209 | 293 |
All other performing loans | 1,618 | 2,034 |
Carrying value [Member] | Principal Protected Debt [Member] | ' | ' |
Long-term debt | ' | ' |
Long-term debt | 15,797 | 16,541 |
Portion at Fair Value Measurement [Member] | ' | ' |
Loans | ' | ' |
Nonaccrual loans | 1,645 | 1,196 |
Total loans | 32,503 | 43,704 |
Long-term debt | ' | ' |
Long-term debt | 28,878 | 30,788 |
Long-term beneficial interests | ' | ' |
Total long-term beneficial interests | 1,996 | 1,170 |
Portion at Fair Value Measurement [Member] | Trading assets [Member] | ' | ' |
Loans | ' | ' |
Nonaccrual loans | 1,491 | 960 |
All other performing loans | 29,295 | 40,581 |
Portion at Fair Value Measurement [Member] | Total loans [Member] | ' | ' |
Loans | ' | ' |
Nonaccrual loans | 154 | 236 |
All other performing loans | 1,563 | 1,927 |
Portion at Fair Value Measurement [Member] | Principal Protected Debt [Member] | ' | ' |
Long-term debt | ' | ' |
Long-term debt | 15,909 | 16,391 |
Portion at Fair Value Measurement [Member] | Non Principal Protected Debt [Member] | ' | ' |
Long-term debt | ' | ' |
Long-term debt | 12,969 | 14,397 |
Long-term beneficial interests | ' | ' |
Total long-term beneficial interests | 1,996 | 1,170 |
Change During Period, Fair Value Disclosure [Member] | ' | ' |
Loans | ' | ' |
Nonaccrual loans | -3,720 | -3,314 |
Total loans | -7,549 | -6,924 |
Change During Period, Fair Value Disclosure [Member] | Trading assets [Member] | ' | ' |
Loans | ' | ' |
Nonaccrual loans | -3,665 | -3,257 |
All other performing loans | -3,774 | -3,503 |
Change During Period, Fair Value Disclosure [Member] | Total loans [Member] | ' | ' |
Loans | ' | ' |
Nonaccrual loans | -55 | -57 |
All other performing loans | -55 | -107 |
Change During Period, Fair Value Disclosure [Member] | Principal Protected Debt [Member] | ' | ' |
Long-term debt | ' | ' |
Long-term debt | $112 | ($150) |
Fair_Value_Option_Structured_n
Fair Value Option - Structured note products by balance sheet classification and risk component (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | $47,661 | $47,012 |
Interest rate [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 11,401 | 10,371 |
Credit [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 4,261 | 6,166 |
Foreign exchange [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 2,542 | 2,848 |
Equity [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 26,754 | 24,361 |
Commodity [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 2,703 | 3,266 |
Long-term debt [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 28,427 | 30,613 |
Long-term debt [Member] | Interest rate [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 9,516 | 8,669 |
Long-term debt [Member] | Credit [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 4,248 | 6,166 |
Long-term debt [Member] | Foreign exchange [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 2,321 | 2,819 |
Long-term debt [Member] | Equity [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 11,082 | 11,580 |
Long-term debt [Member] | Commodity [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 1,260 | 1,379 |
Other borrowed funds [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 13,068 | 11,284 |
Other borrowed funds [Member] | Interest rate [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 615 | 1,143 |
Other borrowed funds [Member] | Credit [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 13 | 0 |
Other borrowed funds [Member] | Foreign exchange [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 194 | 0 |
Other borrowed funds [Member] | Equity [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 11,936 | 9,809 |
Other borrowed funds [Member] | Commodity [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 310 | 332 |
Deposits [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 6,166 | 5,115 |
Deposits [Member] | Interest rate [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 1,270 | 559 |
Deposits [Member] | Credit [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 0 | 0 |
Deposits [Member] | Foreign exchange [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 27 | 29 |
Deposits [Member] | Equity [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | 3,736 | 2,972 |
Deposits [Member] | Commodity [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Structured notes balance | $1,133 | $1,555 |
Credit_Risk_Concentrations_Det
Credit Risk Concentrations (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Concentration Risk [Line Items] | ' | ' |
Credit exposure | $1,862,732 | $1,860,528 |
Loans | 738,418 | 733,796 |
Derivative receivables balance | 65,759 | 74,983 |
Off-balance sheet | 1,031,672 | 1,027,988 |
Receivables from customers and other [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Loans | 26,900 | 23,800 |
Consumer | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 1,002,433 | 1,013,900 |
Loans | 416,854 | 420,613 |
Derivative receivables balance | 0 | 0 |
Off-balance sheet | 585,440 | 593,174 |
Consumer, excluding credit card [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 345,259 | 352,889 |
Loans | 289,063 | 292,620 |
Derivative receivables balance | 0 | 0 |
Off-balance sheet | 56,057 | 60,156 |
Credit card [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 657,174 | 661,011 |
Loans | 127,791 | 127,993 |
Derivative receivables balance | 0 | 0 |
Off-balance sheet | 529,383 | 533,018 |
Wholesale-related [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 860,299 | 846,628 |
Loans | 321,564 | 313,183 |
Derivative receivables balance | 65,759 | 74,983 |
Off-balance sheet | 446,232 | 434,814 |
Wholesale-related [Member] | Real Estate [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 87,102 | 76,198 |
Loans | 69,151 | 60,740 |
Derivative receivables balance | 460 | 1,084 |
Off-balance sheet | 17,491 | 14,374 |
Wholesale-related [Member] | Banks & Finance Cos [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 66,881 | 73,318 |
Loans | 25,482 | 26,651 |
Derivative receivables balance | 18,888 | 19,846 |
Off-balance sheet | 22,511 | 26,821 |
Wholesale-related [Member] | Oil & Gas [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 46,934 | 42,563 |
Loans | 14,383 | 14,704 |
Derivative receivables balance | 2,203 | 2,345 |
Off-balance sheet | 30,348 | 25,514 |
Wholesale-related [Member] | Healthcare [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 45,910 | 48,487 |
Loans | 13,319 | 11,638 |
Derivative receivables balance | 3,202 | 3,359 |
Off-balance sheet | 29,389 | 33,490 |
Wholesale-related [Member] | State & Municipal Govt [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 35,666 | 41,821 |
Loans | 8,708 | 7,998 |
Derivative receivables balance | 3,319 | 5,138 |
Off-balance sheet | 23,639 | 28,685 |
Wholesale-related [Member] | Consumer Products [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 34,145 | 32,778 |
Loans | 9,099 | 9,151 |
Derivative receivables balance | 715 | 826 |
Off-balance sheet | 24,331 | 22,801 |
Wholesale-related [Member] | Asset Managers [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 33,506 | 31,474 |
Loans | 5,656 | 6,220 |
Derivative receivables balance | 7,175 | 8,390 |
Off-balance sheet | 20,675 | 16,864 |
Wholesale-related [Member] | Utilities [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 28,983 | 29,533 |
Loans | 5,582 | 6,814 |
Derivative receivables balance | 2,248 | 2,649 |
Off-balance sheet | 21,153 | 20,070 |
Wholesale-related [Member] | Retail & Consumer Services [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 25,068 | 25,597 |
Loans | 7,504 | 7,901 |
Derivative receivables balance | 273 | 429 |
Off-balance sheet | 17,291 | 17,267 |
Wholesale-related [Member] | Technology [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 21,403 | 18,488 |
Loans | 4,426 | 3,806 |
Derivative receivables balance | 1,392 | 1,192 |
Off-balance sheet | 15,585 | 13,490 |
Wholesale-related [Member] | Central Govt [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 21,049 | 21,223 |
Loans | 1,754 | 1,333 |
Derivative receivables balance | 9,998 | 11,232 |
Off-balance sheet | 9,297 | 8,658 |
Wholesale-related [Member] | Machinery & Equipment Mfg [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 19,078 | 18,504 |
Loans | 5,969 | 6,304 |
Derivative receivables balance | 476 | 592 |
Off-balance sheet | 12,633 | 11,608 |
Wholesale-related [Member] | Metals/Mining [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 17,434 | 20,958 |
Loans | 5,825 | 6,059 |
Derivative receivables balance | 560 | 624 |
Off-balance sheet | 11,049 | 14,275 |
Wholesale-related [Member] | Business Services [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 14,601 | 13,577 |
Loans | 4,497 | 4,550 |
Derivative receivables balance | 594 | 190 |
Off-balance sheet | 9,510 | 8,837 |
Wholesale-related [Member] | Transportation [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 13,975 | 19,827 |
Loans | 6,845 | 12,763 |
Derivative receivables balance | 621 | 673 |
Off-balance sheet | 6,509 | 6,391 |
Wholesale-related [Member] | All other [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 308,519 | 301,673 |
Loans | 120,063 | 119,590 |
Derivative receivables balance | 13,635 | 16,414 |
Off-balance sheet | 174,821 | 165,669 |
Wholesale-related [Member] | Loans Retained [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 820,254 | 816,019 |
Loans | 308,263 | 306,222 |
Derivative receivables balance | 65,759 | 74,983 |
Off-balance sheet | 446,232 | 434,814 |
Wholesale-related [Member] | Loans held-for-sale and loans at fair value [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 13,301 | 6,961 |
Loans | 13,301 | 6,961 |
Derivative receivables balance | 0 | 0 |
Off-balance sheet | 0 | 0 |
Wholesale-related [Member] | Receivables from customers and other [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Credit exposure | 26,744 | 23,648 |
Loans | 0 | 0 |
Derivative receivables balance | 0 | 0 |
Off-balance sheet | $0 | $0 |
Derivative_Instruments_Notiona
Derivative Instruments - Notional Amount of Derivative Contracts (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 02, 2012 |
In Billions, unless otherwise specified | Interest rate contract [Member] | Interest rate contract [Member] | Interest rate contract [Member] | Interest rate contract [Member] | Interest rate contract [Member] | Interest rate contract [Member] | Interest rate contract [Member] | Interest rate contract [Member] | Interest rate contract [Member] | Interest rate contract [Member] | Credit derivatives [Member] | Credit derivatives [Member] | Foreign exchange [Member] | Foreign exchange [Member] | Foreign exchange [Member] | Foreign exchange [Member] | Foreign exchange [Member] | Foreign exchange [Member] | Foreign exchange [Member] | Foreign exchange [Member] | Foreign exchange [Member] | Foreign exchange [Member] | Equity Contract [Member] | Equity Contract [Member] | Equity Contract [Member] | Equity Contract [Member] | Equity Contract [Member] | Equity Contract [Member] | Equity Contract [Member] | Equity Contract [Member] | Equity Contract [Member] | Equity Contract [Member] | Commodity [Member] | Commodity [Member] | Commodity [Member] | Commodity [Member] | Commodity [Member] | Commodity [Member] | Commodity [Member] | Commodity [Member] | Commodity [Member] | Commodity [Member] | Chief Investment Office [Member] | ||
Swap [Member] | Swap [Member] | Future and forwards [Member] | Future and forwards [Member] | Written options [Member] | Written options [Member] | Purchased options [Member] | Purchased options [Member] | Cross-currency swaps [Member] | Cross-currency swaps [Member] | Written options [Member] | Written options [Member] | Spot futures and forwards [Member] | Spot futures and forwards [Member] | Purchased options [Member] | Purchased options [Member] | Swap [Member] | Swap [Member] | Future and forwards [Member] | Future and forwards [Member] | Written options [Member] | Written options [Member] | Purchased options [Member] | Purchased options [Member] | Swap [Member] | Swap [Member] | Written options [Member] | Written options [Member] | Spot futures and forwards [Member] | Spot futures and forwards [Member] | Purchased options [Member] | Purchased options [Member] | Credit derivatives [Member] | |||||||||||||
Synthetic credit derivatives [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Notional amount of derivative contracts outstanding [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total derivative notional amounts | $70,430 | $69,328 | $54,650 | $52,562 | $35,221 | $33,037 | $11,251 | $11,756 | $3,991 | $3,860 | $4,187 | $3,909 | $5,386 | $5,981 | $8,572 | $8,731 | $3,488 | $3,413 | $659 | $651 | $3,773 | $4,005 | $652 | $662 | $1,059 | $1,045 | $205 | $163 | $49 | $38 | $425 | $441 | $380 | $403 | $763 | $1,009 | $124 | $120 | $202 | $262 | $234 | $367 | $203 | $260 | $12 |
Derivative_Instruments_Impact_
Derivative Instruments - Impact on Balance Sheet (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Impact of derivatives on the Consolidated Balance Sheets [Abstract] | ' | ' |
Gross derivative receivables | $1,180,467 | $1,636,345 |
Net derivative receivables | 65,759 | 74,983 |
Gross derivative payables | 1,160,149 | 1,613,513 |
Net derivative payables | 57,314 | 70,656 |
Interest rate contract [Member] | ' | ' |
Impact of derivatives on the Consolidated Balance Sheets [Abstract] | ' | ' |
Gross derivative receivables | 854,679 | 1,302,332 |
Net derivative receivables | 25,782 | 39,205 |
Gross derivative payables | 825,354 | 1,260,774 |
Net derivative payables | 13,283 | 24,906 |
Credit derivatives [Member] | ' | ' |
Impact of derivatives on the Consolidated Balance Sheets [Abstract] | ' | ' |
Gross derivative receivables | 83,520 | 100,310 |
Net derivative receivables | 1,516 | 1,735 |
Gross derivative payables | 82,402 | 100,027 |
Net derivative payables | 2,281 | 2,504 |
Foreign exchange [Member] | ' | ' |
Impact of derivatives on the Consolidated Balance Sheets [Abstract] | ' | ' |
Gross derivative receivables | 153,599 | 147,253 |
Net derivative receivables | 16,790 | 14,142 |
Gross derivative payables | 160,125 | 160,552 |
Net derivative payables | 15,947 | 18,601 |
Equity Contract [Member] | ' | ' |
Impact of derivatives on the Consolidated Balance Sheets [Abstract] | ' | ' |
Gross derivative receivables | 52,931 | 42,679 |
Net derivative receivables | 12,227 | 9,266 |
Gross derivative payables | 54,654 | 44,535 |
Net derivative payables | 14,719 | 11,819 |
Commodity [Member] | ' | ' |
Impact of derivatives on the Consolidated Balance Sheets [Abstract] | ' | ' |
Gross derivative receivables | 35,738 | 43,771 |
Net derivative receivables | 9,444 | 10,635 |
Gross derivative payables | 37,614 | 47,625 |
Net derivative payables | 11,084 | 12,826 |
Not designated as hedges [Member] | ' | ' |
Impact of derivatives on the Consolidated Balance Sheets [Abstract] | ' | ' |
Gross derivative receivables | 1,174,224 | 1,628,118 |
Gross derivative payables | 1,154,200 | 1,607,616 |
Not designated as hedges [Member] | Interest rate contract [Member] | ' | ' |
Impact of derivatives on the Consolidated Balance Sheets [Abstract] | ' | ' |
Gross derivative receivables | 851,189 | 1,296,268 |
Gross derivative payables | 820,811 | 1,257,654 |
Not designated as hedges [Member] | Credit derivatives [Member] | ' | ' |
Impact of derivatives on the Consolidated Balance Sheets [Abstract] | ' | ' |
Gross derivative receivables | 83,520 | 100,310 |
Gross derivative payables | 82,402 | 100,027 |
Not designated as hedges [Member] | Foreign exchange [Member] | ' | ' |
Impact of derivatives on the Consolidated Balance Sheets [Abstract] | ' | ' |
Gross derivative receivables | 152,240 | 145,676 |
Gross derivative payables | 158,728 | 158,419 |
Not designated as hedges [Member] | Equity Contract [Member] | ' | ' |
Impact of derivatives on the Consolidated Balance Sheets [Abstract] | ' | ' |
Gross derivative receivables | 52,931 | 42,679 |
Gross derivative payables | 54,654 | 44,535 |
Not designated as hedges [Member] | Commodity [Member] | ' | ' |
Impact of derivatives on the Consolidated Balance Sheets [Abstract] | ' | ' |
Gross derivative receivables | 34,344 | 43,185 |
Gross derivative payables | 37,605 | 46,981 |
Designated as hedges [Member] | ' | ' |
Impact of derivatives on the Consolidated Balance Sheets [Abstract] | ' | ' |
Gross derivative receivables | 6,243 | 8,227 |
Gross derivative payables | 5,949 | 5,897 |
Designated as hedges [Member] | Interest rate contract [Member] | ' | ' |
Impact of derivatives on the Consolidated Balance Sheets [Abstract] | ' | ' |
Gross derivative receivables | 3,490 | 6,064 |
Gross derivative payables | 4,543 | 3,120 |
Designated as hedges [Member] | Credit derivatives [Member] | ' | ' |
Impact of derivatives on the Consolidated Balance Sheets [Abstract] | ' | ' |
Gross derivative receivables | 0 | 0 |
Gross derivative payables | 0 | 0 |
Designated as hedges [Member] | Foreign exchange [Member] | ' | ' |
Impact of derivatives on the Consolidated Balance Sheets [Abstract] | ' | ' |
Gross derivative receivables | 1,359 | 1,577 |
Gross derivative payables | 1,397 | 2,133 |
Designated as hedges [Member] | Equity Contract [Member] | ' | ' |
Impact of derivatives on the Consolidated Balance Sheets [Abstract] | ' | ' |
Gross derivative receivables | 0 | 0 |
Gross derivative payables | 0 | 0 |
Designated as hedges [Member] | Commodity [Member] | ' | ' |
Impact of derivatives on the Consolidated Balance Sheets [Abstract] | ' | ' |
Gross derivative receivables | 1,394 | 586 |
Gross derivative payables | $9 | $644 |
Derivative_Instruments_Derivat
Derivative Instruments - Derivatives Netting (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | $1,164,733,000,000 | $1,607,344,000,000 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | -1,114,708,000,000 | -1,561,362,000,000 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 50,025,000,000 | 45,982,000,000 |
Derivative receivables where an appropriate legal opinion has not been either sought or obtained | 15,734,000,000 | 29,001,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Gross derivative receivables | 1,180,467,000,000 | 1,636,345,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Net derivative receivables | 65,759,000,000 | 74,983,000,000 |
Netted cash collateral payables | 63,900,000,000 | 79,200,000,000 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 1,144,452,000,000 | 1,592,147,000,000 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | -1,102,835,000,000 | -1,542,857,000,000 |
Derivative payables with appropriate legal opinions, Net derivative payables | 41,617,000,000 | 49,290,000,000 |
Derivative payables where an appropriate legal opinion has not been either sought or obtained | 15,697,000,000 | 21,366,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Gross derivative payables | 1,160,149,000,000 | 1,613,513,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Net derivative payables | 57,314,000,000 | 70,656,000,000 |
Netted cash collateral receivables | 52,100,000,000 | 60,700,000,000 |
Interest rate contract [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 848,875,000,000 | 1,286,229,000,000 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | -828,897,000,000 | -1,263,127,000,000 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 19,978,000,000 | 23,102,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Gross derivative receivables | 854,679,000,000 | 1,302,332,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Net derivative receivables | 25,782,000,000 | 39,205,000,000 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 822,548,000,000 | 1,256,842,000,000 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | -812,071,000,000 | -1,235,868,000,000 |
Derivative payables with appropriate legal opinions, Net derivative payables | 10,477,000,000 | 20,974,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Gross derivative payables | 825,354,000,000 | 1,260,774,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Net derivative payables | 13,283,000,000 | 24,906,000,000 |
Interest rate contract [Member] | Over-the-counter [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 486,449,000,000 | 794,282,000,000 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | -466,493,000,000 | -771,449,000,000 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 19,956,000,000 | 22,833,000,000 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 467,850,000,000 | 774,824,000,000 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | -458,081,000,000 | -754,105,000,000 |
Derivative payables with appropriate legal opinions, Net derivative payables | 9,769,000,000 | 20,719,000,000 |
Interest rate contract [Member] | OTC-cleared [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 362,426,000,000 | 491,947,000,000 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | -362,404,000,000 | -491,678,000,000 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 22,000,000 | 269,000,000 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 354,698,000,000 | 482,018,000,000 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | -353,990,000,000 | -481,763,000,000 |
Derivative payables with appropriate legal opinions, Net derivative payables | 708,000,000 | 255,000,000 |
Interest rate contract [Member] | Exchange traded [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 0 | 0 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 0 | 0 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 0 | 0 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative payables with appropriate legal opinions, Net derivative payables | 0 | 0 |
Credit derivatives [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 83,110,000,000 | 99,215,000,000 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | -82,004,000,000 | -98,575,000,000 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 1,106,000,000 | 640,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Gross derivative receivables | 83,520,000,000 | 100,310,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Net derivative receivables | 1,516,000,000 | 1,735,000,000 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 81,729,000,000 | 98,542,000,000 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | -80,121,000,000 | -97,523,000,000 |
Derivative payables with appropriate legal opinions, Net derivative payables | 1,608,000,000 | 1,019,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Gross derivative payables | 82,402,000,000 | 100,027,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Net derivative payables | 2,281,000,000 | 2,504,000,000 |
Credit derivatives [Member] | Over-the-counter [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 66,269,000,000 | 90,744,000,000 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | -65,725,000,000 | -90,104,000,000 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 544,000,000 | 640,000,000 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 65,223,000,000 | 89,170,000,000 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | -63,671,000,000 | -88,151,000,000 |
Derivative payables with appropriate legal opinions, Net derivative payables | 1,552,000,000 | 1,019,000,000 |
Credit derivatives [Member] | OTC-cleared [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 16,841,000,000 | 8,471,000,000 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | -16,279,000,000 | -8,471,000,000 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 562,000,000 | 0 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 16,506,000,000 | 9,372,000,000 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | -16,450,000,000 | -9,372,000,000 |
Derivative payables with appropriate legal opinions, Net derivative payables | 56,000,000 | 0 |
Foreign exchange [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 148,999,000,000 | 141,076,000,000 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | -136,809,000,000 | -133,111,000,000 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 12,190,000,000 | 7,965,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Gross derivative receivables | 153,599,000,000 | 147,253,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Net derivative receivables | 16,790,000,000 | 14,142,000,000 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 155,171,000,000 | 153,210,000,000 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | -144,178,000,000 | -141,951,000,000 |
Derivative payables with appropriate legal opinions, Net derivative payables | 10,993,000,000 | 11,259,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Gross derivative payables | 160,125,000,000 | 160,552,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Net derivative payables | 15,947,000,000 | 18,601,000,000 |
Foreign exchange [Member] | Over-the-counter [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 148,953,000,000 | 141,053,000,000 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | -136,763,000,000 | -133,088,000,000 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 12,190,000,000 | 7,965,000,000 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 155,110,000,000 | 153,181,000,000 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | -144,119,000,000 | -141,928,000,000 |
Derivative payables with appropriate legal opinions, Net derivative payables | 10,991,000,000 | 11,253,000,000 |
Foreign exchange [Member] | OTC-cleared [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 46,000,000 | 23,000,000 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | -46,000,000 | -23,000,000 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 0 | 0 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 61,000,000 | 29,000,000 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | -59,000,000 | -23,000,000 |
Derivative payables with appropriate legal opinions, Net derivative payables | 2,000,000 | 6,000,000 |
Foreign exchange [Member] | Exchange traded [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 0 | 0 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 0 | 0 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 0 | 0 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative payables with appropriate legal opinions, Net derivative payables | 0 | 0 |
Equity Contract [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 49,602,000,000 | 38,866,000,000 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | -40,704,000,000 | -33,413,000,000 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 8,898,000,000 | 5,453,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Gross derivative receivables | 52,931,000,000 | 42,679,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Net derivative receivables | 12,227,000,000 | 9,266,000,000 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 50,644,000,000 | 40,321,000,000 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | -39,935,000,000 | -32,716,000,000 |
Derivative payables with appropriate legal opinions, Net derivative payables | 10,709,000,000 | 7,605,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Gross derivative payables | 54,654,000,000 | 44,535,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Net derivative payables | 14,719,000,000 | 11,819,000,000 |
Equity Contract [Member] | Over-the-counter [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 31,870,000,000 | 26,025,000,000 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | -29,289,000,000 | -24,645,000,000 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 2,581,000,000 | 1,380,000,000 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 33,295,000,000 | 28,321,000,000 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | -28,520,000,000 | -23,949,000,000 |
Derivative payables with appropriate legal opinions, Net derivative payables | 4,775,000,000 | 4,372,000,000 |
Equity Contract [Member] | OTC-cleared [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 0 | 0 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 0 | 0 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 0 | 0 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative payables with appropriate legal opinions, Net derivative payables | 0 | 0 |
Equity Contract [Member] | Exchange traded [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 17,732,000,000 | 12,841,000,000 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | -11,415,000,000 | -8,768,000,000 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 6,317,000,000 | 4,073,000,000 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 17,349,000,000 | 12,000,000,000 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | -11,415,000,000 | -8,767,000,000 |
Derivative payables with appropriate legal opinions, Net derivative payables | 5,934,000,000 | 3,233,000,000 |
Commodity [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 34,147,000,000 | 41,958,000,000 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | -26,294,000,000 | -33,136,000,000 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 7,853,000,000 | 8,822,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Gross derivative receivables | 35,738,000,000 | 43,771,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Net derivative receivables | 9,444,000,000 | 10,635,000,000 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 34,360,000,000 | 43,232,000,000 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | -26,530,000,000 | -34,799,000,000 |
Derivative payables with appropriate legal opinions, Net derivative payables | 7,830,000,000 | 8,433,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Gross derivative payables | 37,614,000,000 | 47,625,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Net derivative payables | 11,084,000,000 | 12,826,000,000 |
Commodity [Member] | Over-the-counter [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 21,619,000,000 | 26,850,000,000 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | -15,082,000,000 | -20,729,000,000 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 6,537,000,000 | 6,121,000,000 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 21,993,000,000 | 28,744,000,000 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | -15,318,000,000 | -22,392,000,000 |
Derivative payables with appropriate legal opinions, Net derivative payables | 6,675,000,000 | 6,352,000,000 |
Commodity [Member] | OTC-cleared [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 0 | 0 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 0 | 0 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 0 | 0 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative payables with appropriate legal opinions, Net derivative payables | 0 | 0 |
Commodity [Member] | Exchange traded [Member] | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 12,528,000,000 | 15,108,000,000 |
Derivative receivables with appropriate legal opinion, Amounts netted on the Consolidated balance sheets | -11,212,000,000 | -12,407,000,000 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 1,316,000,000 | 2,701,000,000 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ' | ' |
Derivative payables with appropriate legal opinions, Gross derivative payables | 12,367,000,000 | 14,488,000,000 |
Derivative payables with appropriate legal opinions, Amounts netted on the Consolidated balance sheets | -11,212,000,000 | -12,407,000,000 |
Derivative payables with appropriate legal opinions, Net derivative payables | $1,155,000,000 | $2,081,000,000 |
Derivative_Instruments_Derivat1
Derivative Instruments - Derivatives Collateral (Details 3) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Derivative receivable collateral: | ' | ' |
Net derivative receivables | $50,025 | $45,982 |
Collateral not nettable on the Consolidated balance sheets | -12,414 | -11,350 |
Net exposure | 37,611 | 34,632 |
Derivative payable collateral: | ' | ' |
Net derivative payables | 41,617 | 49,290 |
Collateral not nettable on the Consolidated balance sheets | -6,873 | -20,109 |
Net amount | $34,744 | $29,181 |
Derivative_Instruments_Liquidi
Derivative Instruments - Liquidity Risk and Credit-Related Contingent Features (Details 4) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
OTC and OTC-cleared derivative payables containing downgrade triggers: | ' | ' |
Aggregate fair value of net derivative payables | $24,631 | $40,844 |
Collateral posted | 20,346 | 34,414 |
Single-notch downgrade [Member] | ' | ' |
Liquidity impact of downgrade triggers on OTC and OTC-cleared derivatives: | ' | ' |
Amount of additional collateral to be posted upon downgrade | 952 | 1,234 |
Amount required to settle contracts with termination triggers upon downgrade | 540 | 857 |
Two-notch downgrade [Member] | ' | ' |
Liquidity impact of downgrade triggers on OTC and OTC-cleared derivatives: | ' | ' |
Amount of additional collateral to be posted upon downgrade | 3,244 | 4,090 |
Amount required to settle contracts with termination triggers upon downgrade | $876 | $1,270 |
Derivative_Instruments_Impact_1
Derivative Instruments - Impact on Statements of Income, Fair Value Hedges (Details 5) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Fair value hedge gains (losses) recorded in income | ' | ' | ' |
Derivatives | ($4,080) | ($6,795) | $8,000 |
Hedged items | 4,411 | 5,935 | -6,608 |
Total income statement impact | 331 | -860 | 1,392 |
Income statement impact due to, Hedge ineffectiveness | -94 | 79 | 94 |
Income statement impact due to, Excluded components | 425 | -939 | 1,298 |
Interest rate contract [Member] | ' | ' | ' |
Fair value hedge gains (losses) recorded in income | ' | ' | ' |
Derivatives | -3,469 | -1,238 | 532 |
Hedged items | 4,851 | 1,879 | 33 |
Total income statement impact | 1,382 | 641 | 565 |
Income statement impact due to, Hedge ineffectiveness | -132 | -28 | 104 |
Income statement impact due to, Excluded components | 1,514 | 669 | 461 |
Foreign exchange [Member] | ' | ' | ' |
Fair value hedge gains (losses) recorded in income | ' | ' | ' |
Derivatives | -1,096 | -3,027 | 5,684 |
Hedged items | 864 | 2,925 | -3,761 |
Total income statement impact | -232 | -102 | 1,923 |
Income statement impact due to, Hedge ineffectiveness | 0 | 0 | 0 |
Income statement impact due to, Excluded components | -232 | -102 | 1,923 |
Included revenue related to certain foreign exchange trading derivatives | -556 | -3,100 | 4,900 |
Commodity [Member] | ' | ' | ' |
Fair value hedge gains (losses) recorded in income | ' | ' | ' |
Derivatives | 485 | -2,530 | 1,784 |
Hedged items | -1,304 | 1,131 | -2,880 |
Total income statement impact | -819 | -1,399 | -1,100 |
Income statement impact due to, Hedge ineffectiveness | 38 | 107 | -10 |
Income statement impact due to, Excluded components | ($857) | ($1,506) | ($1,086) |
Derivative_Instruments_Impact_2
Derivative Instruments - Impact on Statements of Income, Cash Flow Hedges (Details 6) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Gains/(losses) recorded in income and other comprehensive income/(loss) | ' | ' | ' |
Recognition of gain (loss) related to cash flow hedges in Income | ($4.60) | ' | ' |
Maximum length of time hedged in forecasted transactions | '10 years | ' | ' |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ' | ' | ' |
Gains/(losses) recorded in income and other comprehensive income/(loss) | ' | ' | ' |
Total change in OCI for period | -424 | 113 | -251 |
Cash Flow Hedging [Member] | ' | ' | ' |
Gains/(losses) recorded in income and other comprehensive income/(loss) | ' | ' | ' |
Hedge ineffectiveness recorded directly in income | 0 | 5 | 19 |
Total income statement impact | -101 | 33 | 320 |
Cash Flow Hedging [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ' | ' | ' |
Gains/(losses) recorded in income and other comprehensive income/(loss) | ' | ' | ' |
Derivatives - effective portion reclassified from AOCI to income | -101 | 28 | 301 |
Effective portion recorded in OCI | -525 | 141 | 50 |
Total change in OCI for period | -424 | 113 | -251 |
Cash Flow Hedging [Member] | Interest rate contract [Member] | ' | ' | ' |
Gains/(losses) recorded in income and other comprehensive income/(loss) | ' | ' | ' |
Derivatives - effective portion reclassified from AOCI to income | -108 | -3 | 310 |
Hedge ineffectiveness recorded directly in income | 0 | 5 | 19 |
Total income statement impact | -108 | 2 | 329 |
Effective portion recorded in OCI | -565 | 13 | 107 |
Total change in OCI for period | -457 | 16 | -203 |
Cash Flow Hedging [Member] | Foreign exchange [Member] | ' | ' | ' |
Gains/(losses) recorded in income and other comprehensive income/(loss) | ' | ' | ' |
Derivatives - effective portion reclassified from AOCI to income | 7 | 31 | -9 |
Hedge ineffectiveness recorded directly in income | 0 | 0 | 0 |
Total income statement impact | 7 | 31 | -9 |
Effective portion recorded in OCI | 40 | 128 | -57 |
Total change in OCI for period | $33 | $97 | ($48) |
Derivative_Instruments_Impact_3
Derivative Instruments - Impact on Statements of Income, Net Investment Hedges (Details 7) (Net Investment Hedging [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net investment hedge gains and losses [Abstract] | ' | ' | ' |
Excluded components recorded directly in income | ($383) | ($306) | ($251) |
Gains/(losses)- effective portion recorded in OCI | 773 | -82 | 226 |
Foreign exchange [Member] | ' | ' | ' |
Net investment hedge gains and losses [Abstract] | ' | ' | ' |
Excluded components recorded directly in income | -383 | -306 | -251 |
Gains/(losses)- effective portion recorded in OCI | 773 | -82 | 225 |
Foreign currency-denominated debt [Member] | ' | ' | ' |
Net investment hedge gains and losses [Abstract] | ' | ' | ' |
Excluded components recorded directly in income | 0 | 0 | 0 |
Gains/(losses)- effective portion recorded in OCI | $0 | $0 | $1 |
Derivative_Instruments_Impact_4
Derivative Instruments - Impact on Statements of Income, Risk Management Derivatives (Details 8) (Risk Management Activities [Member], Not designated as hedges [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ' | ' | ' |
Total income statement impact | $654 | $5,319 | $7,916 |
Interest rate contract [Member] | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ' | ' | ' |
Total income statement impact | 617 | 5,353 | 8,084 |
Credit derivatives [Member] | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ' | ' | ' |
Total income statement impact | -142 | -175 | -52 |
Foreign exchange [Member] | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ' | ' | ' |
Total income statement impact | 1 | 47 | -157 |
Commodity [Member] | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ' | ' | ' |
Total income statement impact | $178 | $94 | $41 |
Derivative_Instruments_Credit_
Derivative Instruments - Credit Derivatives (Details 9) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Credit Derivatives - supplemental information | ' | ' |
Tranche Credit Default Swap Realized Credit Loss Example Protection | $1 | ' |
Tranche Credit Default Swap Example Portfolio of Exposure | 10 | ' |
Total credit derivatives and credit-related notes | ' | ' |
Protection sold | -2,696,805 | -3,021,182 |
Protection purchased with identical underlyings | 2,656,119 | 2,884,754 |
Net protection (sold)/purchased | -40,686 | -136,428 |
Other protection purchased | 35,634 | 78,889 |
Total credit derivatives | ' | ' |
Total credit derivatives and credit-related notes | ' | ' |
Protection sold | -2,696,675 | -3,020,949 |
Protection purchased with identical underlyings | 2,656,119 | 2,884,754 |
Net protection (sold)/purchased | -40,556 | -136,195 |
Other protection purchased | 32,914 | 75,634 |
Credit default swaps | ' | ' |
Total credit derivatives and credit-related notes | ' | ' |
Protection sold | -2,601,581 | -2,954,705 |
Protection purchased with identical underlyings | 2,610,198 | 2,879,105 |
Net protection (sold)/purchased | 8,617 | -75,600 |
Other protection purchased | 8,722 | 42,460 |
Other credit derivatives | ' | ' |
Total credit derivatives and credit-related notes | ' | ' |
Protection sold | -95,094 | -66,244 |
Protection purchased with identical underlyings | 45,921 | 5,649 |
Net protection (sold)/purchased | -49,173 | -60,595 |
Other protection purchased | 24,192 | 33,174 |
Credit-related notes | ' | ' |
Total credit derivatives and credit-related notes | ' | ' |
Protection sold | -130 | -233 |
Protection purchased with identical underlyings | 0 | 0 |
Net protection (sold)/purchased | -130 | -233 |
Other protection purchased | $2,720 | $3,255 |
Derivative_Instruments_Credit_1
Derivative Instruments - Credit Derivatives, Protection Sold, Notional and Fair Value (Details 10) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile - less than one year | ($506,200) | ($624,697) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - from one to five years | -2,031,065 | -2,105,759 |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - more than five years | -159,540 | -290,726 |
Total notional amount | -2,696,805 | -3,021,182 |
Fair value | 36,850 | -20,163 |
Investment-grade | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile - less than one year | -365,660 | -409,748 |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - from one to five years | -1,486,394 | -1,383,644 |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - more than five years | -130,597 | -224,001 |
Total notional amount | -1,982,651 | -2,017,393 |
Fair value | 26,098 | -5,703 |
External Credit Rating, Non Investment Grade [Member] | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile - less than one year | -140,540 | -214,949 |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - from one to five years | -544,671 | -722,115 |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - more than five years | -28,943 | -66,725 |
Total notional amount | -714,154 | -1,003,789 |
Fair value | 10,752 | -14,460 |
Trading assets [Member] | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Fair value | 59,153 | 39,045 |
Trading assets [Member] | Investment-grade | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Fair value | 31,727 | 16,690 |
Trading assets [Member] | External Credit Rating, Non Investment Grade [Member] | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Fair value | 27,426 | 22,355 |
Trading Liabilities [Member] | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Fair value | -22,303 | -59,208 |
Trading Liabilities [Member] | Investment-grade | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Fair value | -5,629 | -22,393 |
Trading Liabilities [Member] | External Credit Rating, Non Investment Grade [Member] | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Fair value | -16,674 | -36,815 |
Credit Default Swap [Member] | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Total notional amount | -2,601,581 | -2,954,705 |
Other Credit Derivatives [Member] | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Total notional amount | -95,094 | -66,244 |
Total Credit Derivatives [Member] | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Total notional amount | -2,696,675 | -3,020,949 |
Hybrid Instrument [Member] | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Total notional amount | ($130) | ($233) |
Noninterest_Revenue_Details
Noninterest Revenue (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 1 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | |
Debit valuation adjustment [Member] | Debit valuation adjustment [Member] | Debit valuation adjustment [Member] | Derivative or Structured Note Funding Valuation Adjustment [Member] | Commodity [Member] | Commodity [Member] | Commodity [Member] | Interest rate [Member] | Interest rate [Member] | Interest rate [Member] | Credit [Member] | Credit [Member] | Credit [Member] | Foreign exchange [Member] | Foreign exchange [Member] | Foreign exchange [Member] | Equity [Member] | Equity [Member] | Equity [Member] | Commodity [Member] | Commodity [Member] | Commodity [Member] | Federal Reserve Bank of New York [Member] | Chief Investment Office [Member] | Chief Investment Office [Member] | Minimum [Member] | Maximum [Member] | Equity securities [Member] | Equity securities [Member] | Equity securities [Member] | Debt securities [Member] | Debt securities [Member] | Debt securities [Member] | VISA [Member] | ||||
Credit [Member] | Credit [Member] | ||||||||||||||||||||||||||||||||||||
Components of investment banking fees [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Underwriting | $5,036,000,000 | $4,316,000,000 | $4,115,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,499,000,000 | $1,026,000,000 | $1,181,000,000 | $3,537,000,000 | $3,290,000,000 | $2,934,000,000 | ' |
Advisory | 1,318,000,000 | 1,492,000,000 | 1,796,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total investment banking fees | 6,354,000,000 | 5,808,000,000 | 5,911,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal transactions revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trading revenue | 9,339,000,000 | 4,765,000,000 | 8,898,000,000 | ' | ' | ' | -1,500,000,000 | ' | ' | ' | 776,000,000 | 3,922,000,000 | -873,000,000 | 2,424,000,000 | -5,460,000,000 | 3,393,000,000 | 1,540,000,000 | 1,436,000,000 | 1,154,000,000 | 2,526,000,000 | 2,504,000,000 | 2,401,000,000 | 2,073,000,000 | 2,363,000,000 | 2,823,000,000 | ' | -400,000,000 | -5,800,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Private equity gains | 802,000,000 | 771,000,000 | 1,107,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal transactions | 10,141,000,000 | 5,536,000,000 | 10,005,000,000 | -452,000,000 | -930,000,000 | 1,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pretax gain on expected recovery of subordinated loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 665,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (losses) related to commodity fair value hedges | 331,000,000 | -860,000,000 | 1,392,000,000 | ' | ' | ' | ' | -819,000,000 | -1,399,000,000 | -1,100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset management: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment management fees | 8,044,000,000 | 6,744,000,000 | 6,449,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
All other asset management fees | 505,000,000 | 357,000,000 | 241,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset Management Fees | 8,549,000,000 | 7,101,000,000 | 6,690,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total administration fees | 2,101,000,000 | 2,135,000,000 | 2,171,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commission and other fees: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Brokerage commissions | 2,321,000,000 | 2,331,000,000 | 2,753,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
All other commissions and fees | 2,135,000,000 | 2,301,000,000 | 2,480,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total commissions and fees | 4,456,000,000 | 4,632,000,000 | 5,233,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total asset management, administration and commissions | 15,106,000,000 | 13,868,000,000 | 14,094,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit card revenue sharing agreement terms | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '10 years | ' | ' | ' | ' | ' | ' | ' |
Operating lease income | 1,500,000,000 | 1,300,000,000 | 1,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) on sale of securities, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,300,000,000 |
Interest_Income_and_Interest_E3
Interest Income and Interest Expense (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest income | ' | ' | ' |
Loans | $33,489 | $35,832 | $37,098 |
Securities | 7,812 | 7,939 | 9,215 |
Trading assets | 8,426 | 9,039 | 11,142 |
Federal funds sold and securities purchased under resale agreements | 1,940 | 2,442 | 2,523 |
Securities borrowed | -127 | -3 | 110 |
Deposits with banks | 918 | 555 | 599 |
Other assets | 538 | 259 | 606 |
Total interest income | 52,996 | 56,063 | 61,293 |
Interest expense | ' | ' | ' |
Interest-bearing deposits | 2,067 | 2,655 | 3,855 |
Short-term and other liabilities | 2,125 | 1,788 | 2,873 |
Long-term debt | 5,007 | 6,062 | 6,109 |
Beneficial interests issued by consolidated VIEs | 478 | 648 | 767 |
Total interest expense | 9,677 | 11,153 | 13,604 |
Net interest income | 43,319 | 44,910 | 47,689 |
Provision for credit losses | 225 | 3,385 | 7,574 |
Net interest income after provision for credit losses | $43,094 | $41,525 | $40,115 |
Pension_and_Other_Postretireme3
Pension and Other Postretirement Employee Benefit Plans - Defined Benift Pension Plans (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Defined Contribution Plan: | ' | ' | ' |
Defined contribution plans, employer matching percent of employees' gross pay | 5.00% | ' | ' |
Defined contribution plans, employee annual compensation amount not eligible for employers matching contributions | $250,000 | ' | ' |
Defined Benefit Pension Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Period after which employees begin to accrue plan benefits | '1 year | ' | ' |
Period after which benefits generally vest | '3 years | ' | ' |
Funded status of plan - supplemental information | ' | ' | ' |
Unfunded postretirement benefit obligation, U.K. Plan | 34,000,000 | 31,000,000 | ' |
Defined benefit pension plan, U.S. [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined benefit pension plan, estimated future employer contributions in next fiscal year | 0 | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation: | ' | ' | ' |
Benefit obligation, beginning of year | -11,478,000,000 | -9,043,000,000 | ' |
Benefits earned during the year | -314,000,000 | -272,000,000 | -249,000,000 |
Interest cost on benefit obligations | -447,000,000 | -466,000,000 | -451,000,000 |
Plan amendments | 0 | 0 | ' |
Business combinations | 0 | -1,425,000,000 | ' |
Net gain/(loss) | 794,000,000 | -864,000,000 | ' |
Benefits paid | 669,000,000 | 592,000,000 | ' |
Foreign exchange impact and other | 0 | 0 | ' |
Benefit obligation, end of year | -10,776,000,000 | -11,478,000,000 | -9,043,000,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, beginning of year | 13,012,000,000 | 10,472,000,000 | ' |
Actual return on plan assets | 1,979,000,000 | 1,292,000,000 | ' |
Firm contributions | 32,000,000 | 31,000,000 | ' |
Defined Benefit Plan, Business Combinations and Acquisitions, Plan Assets | 0 | 1,809,000,000 | ' |
Employee contributions | 0 | 0 | ' |
Benefits paid | -669,000,000 | -592,000,000 | ' |
Foreign exchange impact and other | 0 | 0 | ' |
Fair value of plan assets, end of year | 14,354,000,000 | 13,012,000,000 | 10,472,000,000 |
Funded/(unfunded) status | 3,578,000,000 | 1,534,000,000 | ' |
Accumulated benefit obligation, end of year | -10,685,000,000 | -11,447,000,000 | ' |
Defined benefit pension plan, U.S. [Member] | Participation rights under participating annuity contracts [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, end of year | 429,000,000 | 418,000,000 | ' |
Defined benefit pension plan, U.S. [Member] | Accrued receivables [Member] | ' | ' | ' |
Funded status of plan - supplemental information | ' | ' | ' |
Defined benefit plans, amounts not measured at fair value | 96,000,000 | 137,000,000 | ' |
Defined benefit pension plan, U.S. [Member] | Accrued liabilities [Member] | ' | ' | ' |
Funded status of plan - supplemental information | ' | ' | ' |
Defined benefit plans, amounts not measured at fair value | 104,000,000 | 310,000,000 | ' |
Defined benefit pension plan, Non-U.S. [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined benefit pension plan, estimated future employer contributions in next fiscal year | 49,000,000 | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation: | ' | ' | ' |
Benefit obligation, beginning of year | -3,243,000,000 | -2,829,000,000 | ' |
Benefits earned during the year | -34,000,000 | -41,000,000 | -36,000,000 |
Interest cost on benefit obligations | -125,000,000 | -126,000,000 | -133,000,000 |
Plan amendments | 0 | 6,000,000 | ' |
Business combinations | 0 | 0 | ' |
Employee contributions | -7,000,000 | -5,000,000 | ' |
Net gain/(loss) | -62,000,000 | -244,000,000 | ' |
Benefits paid | 106,000,000 | 108,000,000 | ' |
Foreign exchange impact and other | -68,000,000 | -112,000,000 | ' |
Benefit obligation, end of year | -3,433,000,000 | -3,243,000,000 | -2,829,000,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, beginning of year | 3,330,000,000 | 2,989,000,000 | ' |
Actual return on plan assets | 187,000,000 | 237,000,000 | ' |
Firm contributions | 45,000,000 | 86,000,000 | ' |
Defined Benefit Plan, Business Combinations and Acquisitions, Plan Assets | 0 | 0 | ' |
Employee contributions | 7,000,000 | 5,000,000 | ' |
Benefits paid | -106,000,000 | -108,000,000 | ' |
Foreign exchange impact and other | 69,000,000 | 121,000,000 | ' |
Fair value of plan assets, end of year | 3,532,000,000 | 3,330,000,000 | 2,989,000,000 |
Funded/(unfunded) status | 99,000,000 | 87,000,000 | ' |
Accumulated benefit obligation, end of year | -3,406,000,000 | -3,221,000,000 | ' |
Defined benefit pension plan, Non-U.S. [Member] | Accrued receivables [Member] | ' | ' | ' |
Funded status of plan - supplemental information | ' | ' | ' |
Defined benefit plans, amounts not measured at fair value | ' | 47,000,000 | ' |
Defined benefit pension plan, Non-U.S. [Member] | Accrued liabilities [Member] | ' | ' | ' |
Funded status of plan - supplemental information | ' | ' | ' |
Defined benefit plans, amounts not measured at fair value | ' | 46,000,000 | ' |
Excess retirement plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined benefit pension plan, benefit obligation expense retirement plan | 245,000,000 | 276,000,000 | ' |
Defined Contribution Pension [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Period after which employees begin to receive matching contributions | '1 year | ' | ' |
Period after which matching contributions vest for employees hired after May 1, 2009 | '3 years | ' | ' |
OPEB Plans [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation: | ' | ' | ' |
Benefit obligation, beginning of year | -990,000,000 | -999,000,000 | ' |
Benefits earned during the year | -1,000,000 | -1,000,000 | -1,000,000 |
Interest cost on benefit obligations | -35,000,000 | -44,000,000 | -51,000,000 |
Plan amendments | 0 | 0 | ' |
Business combinations | 0 | 0 | ' |
Employee contributions | -72,000,000 | -74,000,000 | ' |
Net gain/(loss) | 138,000,000 | -9,000,000 | ' |
Benefits paid | 144,000,000 | 149,000,000 | ' |
Expected Medicare Part D subsidy receipts | -10,000,000 | -10,000,000 | ' |
Foreign exchange impact and other | 0 | -2,000,000 | ' |
Benefit obligation, end of year | -826,000,000 | -990,000,000 | -999,000,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, beginning of year | 1,563,000,000 | 1,435,000,000 | ' |
Actual return on plan assets | 211,000,000 | 142,000,000 | ' |
Firm contributions | 2,000,000 | 2,000,000 | ' |
Defined Benefit Plan, Business Combinations and Acquisitions, Plan Assets | 0 | 0 | ' |
Employee contributions | 0 | 0 | ' |
Benefits paid | -19,000,000 | -16,000,000 | ' |
Foreign exchange impact and other | 0 | 0 | ' |
Fair value of plan assets, end of year | 1,757,000,000 | 1,563,000,000 | 1,435,000,000 |
Funded/(unfunded) status | 931,000,000 | 573,000,000 | ' |
OPEB Plans [Member] | Contractually required payments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined benefit pension plan, estimated future employer contributions in next fiscal year | 32,000,000 | ' | ' |
OPEB Plans [Member] | Overfunded plans [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Funded/(unfunded) status | 5,100,000,000 | 2,800,000,000 | ' |
OPEB Plans [Member] | Underfunded plans [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Funded/(unfunded) status | $540,000,000 | $612,000,000 | ' |
Pension_and_Other_Postretireme4
Pension and Other Postretirement Employee Benefit Plans - Pretax Pension and OPEB in AOCI (Details 1) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Pension Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Percent above which amortization of net gains and losses is included in annual net periodic benefit cost | 10.00% | ' |
Defined benefit pension plan, U.S. [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Average future service period | '9 years | ' |
Average remaining amortization period | '6 years | ' |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax | ' | ' |
Net gain/(loss) | ($1,726) | ($3,814) |
Prior service credit/(cost) | 196 | 237 |
Accumulated other comprehensive income/(loss), pretax, end of year | -1,530 | -3,577 |
Defined benefit pension plan, Non-U.S. [Member] | ' | ' |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax | ' | ' |
Net gain/(loss) | -658 | -676 |
Prior service credit/(cost) | 14 | 18 |
Accumulated other comprehensive income/(loss), pretax, end of year | -644 | -658 |
OPEB Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Percent above which amortization of net gains and losses is included in annual net periodic benefit cost | 10.00% | ' |
Period over which the firm uses a calculated value that recognizes changes in fair value to determine expected return on plan assets | '5 years | ' |
Average future service period | '13 years | ' |
Average remaining amortization period | '2 years | ' |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax | ' | ' |
Net gain/(loss) | 125 | -133 |
Prior service credit/(cost) | 1 | 1 |
Accumulated other comprehensive income/(loss), pretax, end of year | $126 | ($132) |
Pension_and_Other_Postretireme5
Pension and Other Postretirement Employee Benefit Plans - Net Periodic Benefit Costs (Details 2) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined benefit pension plan, U.S. [Member] | ' | ' | ' |
Components of net periodic benefit cost [Abstract] | ' | ' | ' |
Benefits earned during the year | $314 | $272 | $249 |
Interest cost on benefit obligations | 447 | 466 | 451 |
Expected return on plan assets | -956 | -861 | -791 |
Amortization: | ' | ' | ' |
Net loss | 271 | 289 | 165 |
Prior service cost (credit) | -41 | -41 | -43 |
Net periodic defined benefit cost | 35 | 125 | 31 |
Other defined benefit pension plans | 15 | 15 | 19 |
Total defined benefit plans | 50 | 140 | 50 |
Total defined contribution plans | 447 | 409 | 370 |
Total pension and OPEB cost included in compensation expense | 497 | 549 | 420 |
Changes in plan assets and benefit obligations recognized in other comprehensive income | ' | ' | ' |
Net (gain)/loss arising during the year | -1,817 | 434 | 1,207 |
Prior service credit arising during the year | 0 | 0 | 0 |
Amortization of net loss | 271 | 289 | 165 |
Amortization of prior service (cost)/credit | 41 | 41 | 43 |
Foreign exchange impact and other | 0 | 0 | 0 |
Total recognized in other comprehensive income | -2,047 | 186 | 1,085 |
Total recognized in net periodic benefit cost and other comprehensive income | -2,012 | 311 | 1,116 |
Defined benefit pension plan, Non-U.S. [Member] | ' | ' | ' |
Components of net periodic benefit cost [Abstract] | ' | ' | ' |
Benefits earned during the year | 34 | 41 | 36 |
Interest cost on benefit obligations | 125 | 126 | 133 |
Expected return on plan assets | -142 | -137 | -141 |
Amortization: | ' | ' | ' |
Net loss | 49 | 36 | 48 |
Prior service cost (credit) | -2 | 0 | -1 |
Net periodic defined benefit cost | 64 | 66 | 75 |
Other defined benefit pension plans | 14 | 8 | 12 |
Total defined benefit plans | 78 | 74 | 87 |
Total defined contribution plans | 321 | 302 | 285 |
Total pension and OPEB cost included in compensation expense | 399 | 376 | 372 |
Changes in plan assets and benefit obligations recognized in other comprehensive income | ' | ' | ' |
Net (gain)/loss arising during the year | 19 | 146 | 25 |
Prior service credit arising during the year | 0 | -6 | 0 |
Amortization of net loss | 49 | 36 | 48 |
Amortization of prior service (cost)/credit | 2 | 0 | 1 |
Foreign exchange impact and other | 14 | 22 | 1 |
Total recognized in other comprehensive income | -14 | 126 | -21 |
Total recognized in net periodic benefit cost and other comprehensive income | 50 | 192 | 54 |
OPEB Plans [Member] | ' | ' | ' |
Components of net periodic benefit cost [Abstract] | ' | ' | ' |
Benefits earned during the year | 1 | 1 | 1 |
Interest cost on benefit obligations | 35 | 44 | 51 |
Expected return on plan assets | -92 | -90 | -88 |
Amortization: | ' | ' | ' |
Net loss | 1 | -1 | 1 |
Prior service cost (credit) | 0 | 0 | -8 |
Net periodic defined benefit cost | -55 | -46 | -43 |
Total defined benefit plans | -55 | -46 | -43 |
Total pension and OPEB cost included in compensation expense | -55 | -46 | -43 |
Changes in plan assets and benefit obligations recognized in other comprehensive income | ' | ' | ' |
Net (gain)/loss arising during the year | -257 | -43 | 58 |
Prior service credit arising during the year | 0 | 0 | 0 |
Amortization of net loss | 1 | -1 | 1 |
Amortization of prior service (cost)/credit | 0 | 0 | 8 |
Foreign exchange impact and other | 0 | -1 | 0 |
Total recognized in other comprehensive income | -258 | -43 | 65 |
Total recognized in net periodic benefit cost and other comprehensive income | ($313) | ($89) | $22 |
Pension_and_Other_Postretireme6
Pension and Other Postretirement Employee Benefit Plans - Pretax Amortization from AOCI (Details 3) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Defined Benefit Pension Plans, U.S. [Member] | ' |
Estimated pretax amounts that will be amortized from AOCI into net periodic benefit cost | ' |
Net loss | $35 |
Prior service cost/(credit) | -41 |
Total | -6 |
Defined benefit pension plan, Non-U.S. [Member] | ' |
Estimated pretax amounts that will be amortized from AOCI into net periodic benefit cost | ' |
Net loss | 47 |
Prior service cost/(credit) | -2 |
Total | 45 |
OPEB plans, U.S. [Member] | ' |
Estimated pretax amounts that will be amortized from AOCI into net periodic benefit cost | ' |
Net loss | 0 |
Prior service cost/(credit) | 0 |
Total | 0 |
OPEB plans, Non-U.S. [Member] | ' |
Estimated pretax amounts that will be amortized from AOCI into net periodic benefit cost | ' |
Net loss | 0 |
Prior service cost/(credit) | 0 |
Total | $0 |
Pension_and_Other_Postretireme7
Pension and Other Postretirement Employee Benefit Plans - Actual Rate of Return on Plan Assets (Details 4) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Defined benefit pension plan, U.S. [Member] | ' | ' | ' |
Actual rate of return: | ' | ' | ' |
Actual rate of return | 15.95% | 12.66% | 0.72% |
Defined benefit pension plan, Non-U.S. [Member] | Minimum [Member] | ' | ' | ' |
Actual rate of return: | ' | ' | ' |
Actual rate of return | 3.74% | 7.21% | -4.29% |
Defined benefit pension plan, Non-U.S. [Member] | Maximum [Member] | ' | ' | ' |
Actual rate of return: | ' | ' | ' |
Actual rate of return | 23.80% | 11.72% | 13.12% |
OPEB plans, U.S. [Member] | ' | ' | ' |
Actual rate of return: | ' | ' | ' |
Actual rate of return | 13.88% | 10.10% | 5.22% |
Pension_and_Other_Postretireme8
Pension and Other Postretirement Employee Benefit Plans - Weighted-Average Assumptions Benefit Obligations (Details 5) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Projected Increase In US Defined Benefit Pension And OPEB Plan Expense Resulting From Decreased Discount Rates For Benefit Obligations | 84 | ' | ' |
Forward rate implied by the Citigroup pension discount curve at which excess cash is assumed to be reinvested | '1 year | ' | ' |
Minimum [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Investment advisor definition of long-term | '10 years | ' | ' |
Term of iBoxx corporate AA bond index used determining discount rate for the UK defined benefit pension and OPEB plans | '15 years | ' | ' |
Defined benefit pension plan, U.S. [Member] | ' | ' | ' |
Weighted-average assumptions used to determine benefit obligations | ' | ' | ' |
Discount rate | 5.00% | 3.90% | ' |
Defined benefit pension plan, Non-U.S. [Member] | Minimum [Member] | ' | ' | ' |
Weighted-average assumptions used to determine benefit obligations | ' | ' | ' |
Discount rate | 1.10% | 1.40% | ' |
Rate of compensation increase | 2.75% | 2.75% | ' |
Defined benefit pension plan, Non-U.S. [Member] | Maximum [Member] | ' | ' | ' |
Weighted-average assumptions used to determine benefit obligations | ' | ' | ' |
Discount rate | 4.40% | 4.40% | ' |
Rate of compensation increase | 4.60% | 4.10% | ' |
OPEB plans, U.S. [Member] | ' | ' | ' |
Weighted-average assumptions used to determine benefit obligations | ' | ' | ' |
Discount rate | 4.90% | 3.90% | ' |
OPEB plans, Non-U.S. [Member] | ' | ' | ' |
Weighted-average assumptions used to determine benefit obligations | ' | ' | ' |
Discount rate | 0.00% | 0.00% | ' |
Pension and other postretirement employee benefit plans, U.S. [Member] | ' | ' | ' |
Weighted-average assumptions used to determine benefit obligations | ' | ' | ' |
Rate of compensation increase | 3.50% | 4.00% | ' |
Health care cost trend rate: | ' | ' | ' |
Assumed for next year | 6.50% | 7.00% | ' |
Ultimate | 5.00% | 5.00% | 5.00% |
Year when rate will reach ultimate | '2017 | '2017 | '2017 |
Fair Value, Inputs, Level 3 [Member] | Defined benefit pension plan, Non-U.S. [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets and liabilities | 0 | 0 | ' |
Pension_and_Other_Postretireme9
Pension and Other Postretirement Employee Benefit Plans - Weighted-Average Assumptions Net Periodic Benefit Costs (Details 6) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Defined benefit pension plan, U.S. [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Expected long-term return on plan assets, next fiscal year | 7.00% | ' | ' |
Actual rate of return | 15.95% | 12.66% | 0.72% |
Weighted-average assumptions used to determine net periodic benefit costs | ' | ' | ' |
Discount rate | 3.90% | 4.60% | 5.50% |
Expected long-term rate of return on plan assets | 7.50% | 7.50% | 7.50% |
Defined benefit pension plan, Non-U.S. [Member] | Maximum [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Actual rate of return | 23.80% | 11.72% | 13.12% |
Weighted-average assumptions used to determine net periodic benefit costs | ' | ' | ' |
Discount rate | 4.40% | 4.80% | 5.50% |
Expected long-term rate of return on plan assets | 4.90% | 4.60% | 5.40% |
Defined benefit pension plan, Non-U.S. [Member] | Minimum [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Actual rate of return | 3.74% | 7.21% | -4.29% |
Weighted-average assumptions used to determine net periodic benefit costs | ' | ' | ' |
Discount rate | 1.40% | 1.50% | 1.60% |
Expected long-term rate of return on plan assets | 2.40% | 2.50% | 2.40% |
OPEB plans, U.S. [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Actual rate of return | 13.88% | 10.10% | 5.22% |
Weighted-average assumptions used to determine net periodic benefit costs | ' | ' | ' |
Discount rate | 3.90% | 4.70% | 5.50% |
Expected long-term rate of return on plan assets | 6.25% | 6.25% | 6.25% |
Pension and other postretirement employee benefit plans, U.S. [Member] | ' | ' | ' |
Weighted-average assumptions used to determine net periodic benefit costs | ' | ' | ' |
Rate of compensation increase | 4.00% | 4.00% | 4.00% |
Health care cost trend rate: | ' | ' | ' |
Assumed for next year | 7.00% | 7.00% | 7.00% |
Ultimate | 5.00% | 5.00% | 5.00% |
Year when rate will reach ultimate | '2017 | '2017 | '2017 |
Foreign Pension Plans and Other Foreign Postretirement Benefit Plans [Member] | Maximum [Member] | ' | ' | ' |
Weighted-average assumptions used to determine net periodic benefit costs | ' | ' | ' |
Rate of compensation increase | 4.10% | 4.20% | 4.50% |
Foreign Pension Plans and Other Foreign Postretirement Benefit Plans [Member] | Minimum [Member] | ' | ' | ' |
Weighted-average assumptions used to determine net periodic benefit costs | ' | ' | ' |
Rate of compensation increase | 2.75% | 2.75% | 3.00% |
Recovered_Sheet1
Pension and Other Postretirement Employee Benefit Plans - One Percentage Point Increase Effects (Details 7) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Effect of a one-percentage-point change in the assumed health care cost trend rate on the Firms total service and interest cost and accumulated postretirement benefit obligation | ' | ' | ' |
Effect on total service and interest cost, 1-Percentage-point increase | $1 | ' | ' |
Effect on total service and interest cost, 1-Percentage-point decrease | -1 | ' | ' |
Effect on accumulated postretirement benefit obligation, 1-Percentage-point increase | 31 | ' | ' |
Effect on accumulated postretirement benefit obligation, 1-Percentage-point decrease | -26 | ' | ' |
Defined benefit pension plan, U.S. [Member] | ' | ' | ' |
Effect of a one-percentage-point change in the assumed health care cost trend rate on the Firms total service and interest cost and accumulated postretirement benefit obligation | ' | ' | ' |
Expected long-term rate of return on plan assets | 7.50% | 7.50% | 7.50% |
Expected long-term return on plan assets, next fiscal year | 7.00% | ' | ' |
Projected Increase in US Defined Benefit Pension Plan Expense Resulting From a 25 Basis Point Increase in the Interest Crediting Rate for the US Plans | 32 | ' | ' |
OPEB plans, U.S. [Member] | ' | ' | ' |
Effect of a one-percentage-point change in the assumed health care cost trend rate on the Firms total service and interest cost and accumulated postretirement benefit obligation | ' | ' | ' |
Expected long-term rate of return on plan assets | 6.25% | 6.25% | 6.25% |
US Pension Plans and Other US Postretirement Employee Benefit Plans [Member] | ' | ' | ' |
Effect of a one-percentage-point change in the assumed health care cost trend rate on the Firms total service and interest cost and accumulated postretirement benefit obligation | ' | ' | ' |
Health care cost trend rate assumed for next fiscal year | 6.50% | 7.00% | ' |
Interest crediting rate | ' | ' | 5.00% |
Assumptions used calculating net periodic benefit cost, rate of compensation increase, next fiscal year | 3.50% | ' | ' |
Projected Increase in US Defined Benefit Pension and OPEB Plan Expense Resulting From a 25 Basis Point Decline in Expected Long-Term Rate of Return on US Plan Assets | 39 | ' | ' |
Projected Increase in US Defined Benefit Pension and OPEB Plan Expense Resulting from a 25 Basis Point Decline in Discount Rate For US Plans | 26 | ' | ' |
Projected Increase in US Defined Benefit Pension and OPEB Benefit Obligations Resulting from a 25-Basis Point Decline in the Discount Rate for the US Plans | 254 | ' | ' |
Projected Increase In US Defined Benefit Pension Benefit Obligations Resulting From A25 Basis Boint Increase In Interest Crediting Rate For US Defined Benefit Pension Plan | 130 | ' | ' |
Foreign Pension Plans and Other Foreign Postretirement Benefit Plans [Member] | ' | ' | ' |
Effect of a one-percentage-point change in the assumed health care cost trend rate on the Firms total service and interest cost and accumulated postretirement benefit obligation | ' | ' | ' |
Projected increase in non-U.S. defined benefit pension and OPEB plan expense resulting from a 25-basis point decline in the discount rate for the non-U.S. plans | $15 | ' | ' |
Recovered_Sheet2
Pension and Other Postretirement Employee Benefit Plans - Weighted Average Asset Allocation (Details 8) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
US Pension Plans and Other US Postretirement Employee Benefit Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan Amount Of Plan Investments Held In Funds That Are Sponsored Or Managed By Affiliates Of Entity | 2,900 | 1,800 |
Defined benefit pension plan, U.S. [Member] | ' | ' |
Asset category | ' | ' |
Target plan asset allocations | 100.00% | ' |
Actual plan asset allocations | 100.00% | 100.00% |
Defined benefit pension plan, U.S. [Member] | Equity securities [Member] | ' | ' |
Asset category | ' | ' |
Actual plan asset allocations | 48.00% | 41.00% |
Defined benefit pension plan, U.S. [Member] | Debt securities [Member] | ' | ' |
Asset category | ' | ' |
Actual plan asset allocations | 25.00% | 20.00% |
Defined benefit pension plan, U.S. [Member] | Real estate [Member] | ' | ' |
Asset category | ' | ' |
Actual plan asset allocations | 4.00% | 5.00% |
Defined benefit pension plan, U.S. [Member] | Alternative Investments [Member] | ' | ' |
Asset category | ' | ' |
Actual plan asset allocations | 23.00% | 34.00% |
Defined benefit pension plan, Non-U.S. [Member] | ' | ' |
Asset category | ' | ' |
Target plan asset allocations | 100.00% | ' |
Actual plan asset allocations | 100.00% | 100.00% |
Defined benefit pension plan, Non-U.S. [Member] | Equity securities [Member] | ' | ' |
Asset category | ' | ' |
Target plan asset allocations | 35.00% | ' |
Actual plan asset allocations | 36.00% | 27.00% |
Defined benefit pension plan, Non-U.S. [Member] | Debt securities [Member] | ' | ' |
Asset category | ' | ' |
Target plan asset allocations | 64.00% | ' |
Actual plan asset allocations | 63.00% | 72.00% |
Defined benefit pension plan, Non-U.S. [Member] | Real estate [Member] | ' | ' |
Asset category | ' | ' |
Target plan asset allocations | 0.00% | ' |
Actual plan asset allocations | 0.00% | 0.00% |
Defined benefit pension plan, Non-U.S. [Member] | Alternative Investments [Member] | ' | ' |
Asset category | ' | ' |
Target plan asset allocations | 1.00% | ' |
Actual plan asset allocations | 1.00% | 1.00% |
OPEB Plans [Member] | ' | ' |
Asset category | ' | ' |
Target plan asset allocations | 100.00% | ' |
Actual plan asset allocations | 100.00% | 100.00% |
OPEB Plans [Member] | Equity securities [Member] | ' | ' |
Asset category | ' | ' |
Target plan asset allocations | 50.00% | ' |
Actual plan asset allocations | 50.00% | 50.00% |
OPEB Plans [Member] | Debt securities [Member] | ' | ' |
Asset category | ' | ' |
Target plan asset allocations | 50.00% | ' |
Actual plan asset allocations | 50.00% | 50.00% |
OPEB Plans [Member] | Real estate [Member] | ' | ' |
Asset category | ' | ' |
Target plan asset allocations | 0.00% | ' |
Actual plan asset allocations | 0.00% | 0.00% |
OPEB Plans [Member] | Alternative Investments [Member] | ' | ' |
Asset category | ' | ' |
Target plan asset allocations | 0.00% | ' |
Actual plan asset allocations | 0.00% | 0.00% |
Foreign Pension Plans and Other Foreign Postretirement Benefit Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan Amount Of Plan Investments Held In Funds That Are Sponsored Or Managed By Affiliates Of Entity | 242 | 220 |
Minimum [Member] | Defined benefit pension plan, U.S. [Member] | Equity securities [Member] | ' | ' |
Asset category | ' | ' |
Target Allocation, Minimum | 0.00% | ' |
Minimum [Member] | Defined benefit pension plan, U.S. [Member] | United States Equity Securities Member [Member] | ' | ' |
Asset category | ' | ' |
Target Allocation, Minimum | 0.00% | ' |
Minimum [Member] | Defined benefit pension plan, U.S. [Member] | International Equity Securities [Member] | ' | ' |
Asset category | ' | ' |
Target Allocation, Minimum | 0.00% | ' |
Minimum [Member] | Defined benefit pension plan, U.S. [Member] | Hedge funds [Member] | ' | ' |
Asset category | ' | ' |
Target Allocation, Minimum | 0.00% | ' |
Minimum [Member] | Defined benefit pension plan, U.S. [Member] | Real estate [Member] | ' | ' |
Asset category | ' | ' |
Target Allocation, Minimum | 0.00% | ' |
Minimum [Member] | Defined benefit pension plan, U.S. [Member] | Real assets [Member] | ' | ' |
Asset category | ' | ' |
Target Allocation, Minimum | 0.00% | ' |
Minimum [Member] | Defined benefit pension plan, U.S. [Member] | Private equity investments [Member] | ' | ' |
Asset category | ' | ' |
Target Allocation, Minimum | 0.00% | ' |
Minimum [Member] | Defined benefit pension plan, U.S. [Member] | Alternative Investments [Member] | ' | ' |
Asset category | ' | ' |
Target Allocation, Minimum | 0.00% | ' |
Maximum [Member] | Defined benefit pension plan, U.S. [Member] | Equity securities [Member] | ' | ' |
Asset category | ' | ' |
Target Allocation, Maximum | 85.00% | ' |
Maximum [Member] | Defined benefit pension plan, U.S. [Member] | United States Equity Securities Member [Member] | ' | ' |
Asset category | ' | ' |
Target Allocation, Maximum | 45.00% | ' |
Maximum [Member] | Defined benefit pension plan, U.S. [Member] | International Equity Securities [Member] | ' | ' |
Asset category | ' | ' |
Target Allocation, Maximum | 40.00% | ' |
Maximum [Member] | Defined benefit pension plan, U.S. [Member] | Hedge funds [Member] | ' | ' |
Asset category | ' | ' |
Target Allocation, Maximum | 20.00% | ' |
Maximum [Member] | Defined benefit pension plan, U.S. [Member] | Real estate [Member] | ' | ' |
Asset category | ' | ' |
Target Allocation, Maximum | 10.00% | ' |
Maximum [Member] | Defined benefit pension plan, U.S. [Member] | Real assets [Member] | ' | ' |
Asset category | ' | ' |
Target Allocation, Maximum | 10.00% | ' |
Maximum [Member] | Defined benefit pension plan, U.S. [Member] | Private equity investments [Member] | ' | ' |
Asset category | ' | ' |
Target Allocation, Maximum | 20.00% | ' |
Maximum [Member] | Defined benefit pension plan, U.S. [Member] | Alternative Investments [Member] | ' | ' |
Asset category | ' | ' |
Target Allocation, Maximum | 50.00% | ' |
Debt securities [Member] | Minimum [Member] | Defined benefit pension plan, U.S. [Member] | ' | ' |
Asset category | ' | ' |
Target Allocation, Minimum | 0.00% | ' |
Debt securities [Member] | Maximum [Member] | Defined benefit pension plan, U.S. [Member] | ' | ' |
Asset category | ' | ' |
Target Allocation, Maximum | 80.00% | ' |
Recovered_Sheet3
Pension and Other Postretirement Employee Benefit Plans - Plan Assets Measured At Fair Value (Details 9) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Defined Benefit Pension Plans [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities - supplemental information | ' | ' | ' | ' |
Unfunded commitments to purchase limited partnership investments for the plan | $1,600,000,000 | $1,400,000,000 | ' | ' |
Excluded amount of US receivables for investments sold and dividends and interest receivables | 96,000,000 | 137,000,000 | ' | ' |
Excluded amount of Non-US receivables for investments sold and dividends and interest receivables | ' | 47,000,000 | ' | ' |
Excluded amount of other liabilities | 2,000,000 | 4,000,000 | ' | ' |
Defined Benefit Pension Plans [Member] | Fair Value Plan Asset Measurement [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities - supplemental information | ' | ' | ' | ' |
Fair value of investments valued at net asset value | 2,700,000,000 | 4,400,000,000 | ' | ' |
Defined Benefit Pension Plans [Member] | Level 1 [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities - supplemental information | ' | ' | ' | ' |
Fair value of investments valued at net asset value | 100,000,000 | 400,000,000 | ' | ' |
Defined Benefit Pension Plans [Member] | Level 2 [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities - supplemental information | ' | ' | ' | ' |
Fair value of investments valued at net asset value | 1,900,000,000 | 2,500,000,000 | ' | ' |
Defined Benefit Pension Plans [Member] | Level 3 [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities - supplemental information | ' | ' | ' | ' |
Fair value of investments valued at net asset value | 700,000,000 | 1,500,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 14,354,000,000 | 13,012,000,000 | 10,472,000,000 | ' |
Pension and OPEB plan assets and liabilities - supplemental information | ' | ' | ' | ' |
Excluded amount of payables for investments purchased | 102,000,000 | 306,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Plan Asset Categories [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 14,368,000,000 | 13,189,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Cash and cash equivalents [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 62,000,000 | 162,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Equity securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | ' | 3,933,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Total equity securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 5,449,000,000 | ' | ' | ' |
Defined benefit pension plan, U.S. [Member] | Equity securities - Capital equipment [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,084,000,000 | 708,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Equity securities - Consumer goods [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,085,000,000 | 748,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Equity securities - Banks and finance companies [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 737,000,000 | 479,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Equity securities - Business services [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 510,000,000 | 424,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Equity securities - Energy [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 292,000,000 | 192,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Equity securities - Materials [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 344,000,000 | 211,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Equity securities - Real estate [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 38,000,000 | 18,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Equity securities - Other [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,359,000,000 | 1,153,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Common/collective trust funds [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,312,000,000 | 2,271,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Total limited partnerships [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 3,871,000,000 | 4,565,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Limited partnerships - Hedge funds [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,073,000,000 | 2,044,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Private equity investments [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,969,000,000 | 1,743,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Real estate [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 558,000,000 | 467,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Real assets [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 271,000,000 | 311,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Corporate debt securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,230,000,000 | 1,115,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | U.S. federal, state, local and non-U.S. government debt securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 642,000,000 | 537,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Mortgage-backed securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 87,000,000 | 137,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Derivative receivables [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 30,000,000 | 8,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Other plan asset category [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,685,000,000 | 461,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Total liabilities at fair value [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 6,000,000 | -4,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Derivative payables [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 6,000,000 | -4,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Plan Asset Categories [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 7,083,000,000 | 4,514,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Cash and cash equivalents [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 62,000,000 | 162,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Equity securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | ' | 3,823,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Total equity securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 5,427,000,000 | ' | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Equity securities - Capital equipment [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,084,000,000 | 702,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Equity securities - Consumer goods [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,085,000,000 | 744,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Equity securities - Banks and finance companies [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 737,000,000 | 425,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Equity securities - Business services [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 510,000,000 | 424,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Equity securities - Energy [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 292,000,000 | 192,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Equity securities - Materials [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 344,000,000 | 211,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Equity securities - Real estate [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 38,000,000 | 18,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Equity securities - Other [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,337,000,000 | 1,107,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Common/collective trust funds [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 412,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Total limited partnerships [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Limited partnerships - Hedge funds [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Private equity investments [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Real estate [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Real assets [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Corporate debt securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | U.S. federal, state, local and non-U.S. government debt securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 343,000,000 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Mortgage-backed securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 37,000,000 | 107,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Derivative receivables [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 3,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Other plan asset category [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,214,000,000 | 7,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Total liabilities at fair value [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 1 [Member] | Derivative payables [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Plan Asset Categories [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 3,324,000,000 | 4,364,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Cash and cash equivalents [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Equity securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | ' | 106,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Total equity securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 18,000,000 | ' | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Equity securities - Capital equipment [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 6,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Equity securities - Consumer goods [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 4,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Equity securities - Banks and finance companies [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 54,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Equity securities - Business services [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Equity securities - Energy [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Equity securities - Materials [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Equity securities - Real estate [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Equity securities - Other [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 18,000,000 | 42,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Common/collective trust funds [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,308,000,000 | 1,660,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Total limited partnerships [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 355,000,000 | 878,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Limited partnerships - Hedge funds [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 355,000,000 | 878,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Private equity investments [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Real estate [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Real assets [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Corporate debt securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,223,000,000 | 1,114,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | U.S. federal, state, local and non-U.S. government debt securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 299,000,000 | 537,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Mortgage-backed securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 50,000,000 | 30,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Derivative receivables [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 30,000,000 | 5,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Other plan asset category [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 41,000,000 | 34,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Total liabilities at fair value [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 6,000,000 | -4,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 2 [Member] | Derivative payables [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 6,000,000 | -4,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 3,961,000,000 | 4,311,000,000 | 3,608,000,000 | 3,278,000,000 |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Plan Asset Categories [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 3,961,000,000 | 4,311,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Cash and cash equivalents [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Equity securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | ' | 4,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Total equity securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 4,000,000 | 4,000,000 | 1,000,000 | 0 |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Equity securities - Capital equipment [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Equity securities - Consumer goods [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Equity securities - Banks and finance companies [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Equity securities - Business services [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Equity securities - Energy [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Equity securities - Materials [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Equity securities - Real estate [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Equity securities - Other [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 4,000,000 | 4,000,000 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Common/collective trust funds [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 4,000,000 | 199,000,000 | 202,000,000 | 194,000,000 |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Total limited partnerships [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 3,516,000,000 | 3,687,000,000 | 2,976,000,000 | 2,696,000,000 |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Limited partnerships - Hedge funds [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 718,000,000 | 1,166,000,000 | 1,039,000,000 | 1,160,000,000 |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Private equity investments [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,969,000,000 | 1,743,000,000 | 1,367,000,000 | 1,232,000,000 |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Real estate [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 558,000,000 | 467,000,000 | 306,000,000 | 304,000,000 |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Real assets [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 271,000,000 | 311,000,000 | 264,000,000 | 0 |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Corporate debt securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 7,000,000 | 1,000,000 | 2,000,000 | 1,000,000 |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | U.S. federal, state, local and non-U.S. government debt securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Mortgage-backed securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Derivative receivables [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Other plan asset category [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 430,000,000 | 420,000,000 | 427,000,000 | 387,000,000 |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Total liabilities at fair value [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Level 3 [Member] | Derivative payables [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
OPEB plans, Non-U.S. [Member] | U.S. federal, state, local and non-U.S. government debt securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 777,000,000 | ' | ' | ' |
OPEB plans, Non-U.S. [Member] | Level 1 [Member] | U.S. federal, state, local and non-U.S. government debt securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | ' | ' | ' |
OPEB plans, Non-U.S. [Member] | Level 2 [Member] | U.S. federal, state, local and non-U.S. government debt securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 777,000,000 | ' | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 3,532,000,000 | 3,330,000,000 | 2,989,000,000 | ' |
Pension and OPEB plan assets and liabilities - supplemental information | ' | ' | ' | ' |
Excluded amount of payables for investments purchased | ' | 46,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Plan Asset Categories [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 3,830,000,000 | 3,445,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Cash and cash equivalents [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 224,000,000 | 142,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Equity securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | ' | 750,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Total equity securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,121,000,000 | ' | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Equity securities - Capital equipment [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 103,000,000 | 130,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Equity securities - Consumer goods [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 275,000,000 | 168,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Equity securities - Banks and finance companies [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 262,000,000 | 117,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Equity securities - Business services [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 223,000,000 | 133,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Equity securities - Energy [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 84,000,000 | 66,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Equity securities - Materials [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 45,000,000 | 36,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Equity securities - Real estate [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,000,000 | 10,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Equity securities - Other [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 128,000,000 | 90,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Common/collective trust funds [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 346,000,000 | 254,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Total limited partnerships [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Limited partnerships - Hedge funds [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Private equity investments [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Real estate [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Real assets [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Corporate debt securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 787,000,000 | 765,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | U.S. federal, state, local and non-U.S. government debt securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | ' | 1,237,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Mortgage-backed securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 73,000,000 | 100,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Derivative receivables [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 302,000,000 | 109,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Other plan asset category [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 200,000,000 | 88,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Total liabilities at fair value [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 298,000,000 | -116,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Derivative payables [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 298,000,000 | -116,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Plan Asset Categories [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,418,000,000 | 1,017,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Cash and cash equivalents [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 221,000,000 | 142,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Equity securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | ' | 583,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Total equity securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 878,000,000 | ' | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Equity securities - Capital equipment [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 86,000,000 | 115,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Equity securities - Consumer goods [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 225,000,000 | 136,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Equity securities - Banks and finance companies [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 233,000,000 | 94,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Equity securities - Business services [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 209,000,000 | 125,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Equity securities - Energy [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 64,000,000 | 54,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Equity securities - Materials [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 36,000,000 | 30,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Equity securities - Real estate [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 10,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Equity securities - Other [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 25,000,000 | 19,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Common/collective trust funds [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 98,000,000 | 62,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Total limited partnerships [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Limited partnerships - Hedge funds [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Private equity investments [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Real estate [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Real assets [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Corporate debt securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | U.S. federal, state, local and non-U.S. government debt securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | ' | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Mortgage-backed securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 73,000,000 | 100,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Derivative receivables [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 109,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Other plan asset category [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 148,000,000 | 21,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Total liabilities at fair value [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | -116,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 1 [Member] | Derivative payables [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | -116,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Plan Asset Categories [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 2,412,000,000 | 2,428,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Cash and cash equivalents [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 3,000,000 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Equity securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | ' | 167,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Total equity securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 243,000,000 | ' | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Equity securities - Capital equipment [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 17,000,000 | 15,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Equity securities - Consumer goods [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 50,000,000 | 32,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Equity securities - Banks and finance companies [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 29,000,000 | 23,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Equity securities - Business services [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 14,000,000 | 8,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Equity securities - Energy [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 20,000,000 | 12,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Equity securities - Materials [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 9,000,000 | 6,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Equity securities - Real estate [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,000,000 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Equity securities - Other [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 103,000,000 | 71,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Common/collective trust funds [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 248,000,000 | 192,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Total limited partnerships [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Limited partnerships - Hedge funds [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Private equity investments [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Real estate [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Real assets [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Corporate debt securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 787,000,000 | 765,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | U.S. federal, state, local and non-U.S. government debt securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | ' | 1,237,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Mortgage-backed securities [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Derivative receivables [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 302,000,000 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Other plan asset category [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 52,000,000 | 67,000,000 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Total liabilities at fair value [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 298,000,000 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 2 [Member] | Derivative payables [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 298,000,000 | 0 | ' | ' |
Defined benefit pension plan, Non-U.S. [Member] | Level 3 [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities - supplemental information | ' | ' | ' | ' |
Fair value of plan assets and liabilities | 0 | 0 | ' | ' |
OPEB Plans [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,757,000,000 | 1,563,000,000 | 1,435,000,000 | ' |
OPEB Plans [Member] | Level 3 [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | 1,749,000,000 | 1,554,000,000 | 1,427,000,000 | 1,381,000,000 |
OPEB Plans [Member] | Level 3 [Member] | Defined Benefit Postretirement Life Insurance [Member] | ' | ' | ' | ' |
Pension and OPEB plan assets and liabilities measured at fair value | ' | ' | ' | ' |
Fair Value of Plan Assets | $1,749,000,000 | $1,554,000,000 | $1,427,000,000 | $1,381,000,000 |
Recovered_Sheet4
Pension and Other Postretirement Employee Benefit Plans - Changes In Level 3 Fair Value Measurements (Details 10) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined benefit pension plan, U.S. [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, end of year | $14,354 | $13,012 | $10,472 |
Defined benefit pension plan, U.S. [Member] | Equities [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, end of year | 5,449 | ' | ' |
Defined benefit pension plan, U.S. [Member] | Common/collective trust funds [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Transfers in and/or out of level 3 | ' | 0 | ' |
Fair value of plan assets, end of year | 1,312 | 2,271 | ' |
Defined benefit pension plan, U.S. [Member] | Total limited partnerships [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, end of year | 3,871 | 4,565 | ' |
Defined benefit pension plan, U.S. [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Transfers in and/or out of level 3 | ' | 0 | ' |
Fair value of plan assets, end of year | 1,073 | 2,044 | ' |
Defined benefit pension plan, U.S. [Member] | Private equity investments [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, end of year | 1,969 | 1,743 | ' |
Defined benefit pension plan, U.S. [Member] | Real estate [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, end of year | 558 | 467 | ' |
Defined benefit pension plan, U.S. [Member] | Real assets [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, end of year | 271 | 311 | ' |
Defined benefit pension plan, U.S. [Member] | Corporate debt securities [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, end of year | 1,230 | 1,115 | ' |
Defined benefit pension plan, U.S. [Member] | Other plan asset category [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, end of year | 1,685 | 461 | ' |
OPEB Plans [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, end of year | 1,757 | 1,563 | 1,435 |
Level 3 [Member] | Defined benefit pension plan, U.S. [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, beginning of year | 4,311 | 3,608 | 3,278 |
Realized gains/(losses) | 329 | 78 | 88 |
Unrealized gains/(losses) | 218 | 150 | 104 |
Purchases, sales and settlements, net | -891 | 471 | 137 |
Transfers in and/or out of level 3 | -6 | 4 | 1 |
Fair value of plan assets, end of year | 3,961 | 4,311 | 3,608 |
Level 3 [Member] | Defined benefit pension plan, U.S. [Member] | Equities [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, beginning of year | 4 | 1 | 0 |
Realized gains/(losses) | 0 | 0 | 0 |
Unrealized gains/(losses) | 0 | -1 | 0 |
Purchases, sales and settlements, net | 0 | 0 | 0 |
Transfers in and/or out of level 3 | 0 | 4 | 1 |
Fair value of plan assets, end of year | 4 | 4 | 1 |
Level 3 [Member] | Defined benefit pension plan, U.S. [Member] | Common/collective trust funds [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, beginning of year | 199 | 202 | 194 |
Realized gains/(losses) | 59 | 2 | 35 |
Unrealized gains/(losses) | -32 | 22 | 1 |
Purchases, sales and settlements, net | -222 | -27 | -28 |
Transfers in and/or out of level 3 | 0 | ' | 0 |
Fair value of plan assets, end of year | 4 | 199 | 202 |
Level 3 [Member] | Defined benefit pension plan, U.S. [Member] | Total limited partnerships [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, beginning of year | 3,687 | 2,976 | 2,696 |
Realized gains/(losses) | 270 | 76 | 53 |
Unrealized gains/(losses) | 240 | 136 | 62 |
Purchases, sales and settlements, net | -669 | 499 | 165 |
Transfers in and/or out of level 3 | -12 | 0 | 0 |
Fair value of plan assets, end of year | 3,516 | 3,687 | 2,976 |
Level 3 [Member] | Defined benefit pension plan, U.S. [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, beginning of year | 1,166 | 1,039 | 1,160 |
Realized gains/(losses) | 137 | 1 | -16 |
Unrealized gains/(losses) | 14 | 71 | 27 |
Purchases, sales and settlements, net | -593 | 55 | -76 |
Transfers in and/or out of level 3 | -6 | ' | -56 |
Fair value of plan assets, end of year | 718 | 1,166 | 1,039 |
Level 3 [Member] | Defined benefit pension plan, U.S. [Member] | Private equity investments [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, beginning of year | 1,743 | 1,367 | 1,232 |
Realized gains/(losses) | 108 | 59 | 56 |
Unrealized gains/(losses) | 170 | 54 | 2 |
Purchases, sales and settlements, net | -4 | 263 | 77 |
Transfers in and/or out of level 3 | -48 | 0 | 0 |
Fair value of plan assets, end of year | 1,969 | 1,743 | 1,367 |
Level 3 [Member] | Defined benefit pension plan, U.S. [Member] | Real estate [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, beginning of year | 467 | 306 | 304 |
Realized gains/(losses) | 21 | 16 | 8 |
Unrealized gains/(losses) | 44 | 1 | 40 |
Purchases, sales and settlements, net | 26 | 144 | 14 |
Transfers in and/or out of level 3 | 0 | 0 | -60 |
Fair value of plan assets, end of year | 558 | 467 | 306 |
Level 3 [Member] | Defined benefit pension plan, U.S. [Member] | Real assets [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, beginning of year | 311 | 264 | 0 |
Realized gains/(losses) | 4 | 0 | 5 |
Unrealized gains/(losses) | 12 | 10 | -7 |
Purchases, sales and settlements, net | -98 | 37 | 150 |
Transfers in and/or out of level 3 | 42 | 0 | 116 |
Fair value of plan assets, end of year | 271 | 311 | 264 |
Level 3 [Member] | Defined benefit pension plan, U.S. [Member] | Corporate debt securities [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, beginning of year | 1 | 2 | 1 |
Realized gains/(losses) | 0 | 0 | 0 |
Unrealized gains/(losses) | 0 | 0 | 0 |
Purchases, sales and settlements, net | 0 | -1 | 1 |
Transfers in and/or out of level 3 | 6 | 0 | 0 |
Fair value of plan assets, end of year | 7 | 1 | 2 |
Level 3 [Member] | Defined benefit pension plan, U.S. [Member] | Other plan asset category [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, beginning of year | 420 | 427 | 387 |
Realized gains/(losses) | 0 | 0 | 0 |
Unrealized gains/(losses) | 10 | -7 | 41 |
Purchases, sales and settlements, net | 0 | 0 | -1 |
Transfers in and/or out of level 3 | 0 | 0 | 0 |
Fair value of plan assets, end of year | 430 | 420 | 427 |
Level 3 [Member] | OPEB Plans [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, beginning of year | 1,554 | 1,427 | 1,381 |
Realized gains/(losses) | 0 | 0 | 0 |
Unrealized gains/(losses) | 195 | 127 | 70 |
Purchases, sales and settlements, net | 0 | 0 | -24 |
Transfers in and/or out of level 3 | 0 | 0 | 0 |
Fair value of plan assets, end of year | 1,749 | 1,554 | 1,427 |
Level 3 [Member] | OPEB Plans [Member] | COLI [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets: | ' | ' | ' |
Fair value of plan assets, beginning of year | 1,554 | 1,427 | 1,381 |
Realized gains/(losses) | 0 | 0 | 0 |
Unrealized gains/(losses) | 195 | 127 | 70 |
Purchases, sales and settlements, net | 0 | 0 | -24 |
Transfers in and/or out of level 3 | 0 | 0 | 0 |
Fair value of plan assets, end of year | $1,749 | $1,554 | $1,427 |
Recovered_Sheet5
Pension and Other Postretirement Employee Benefit Plans - Estimated Future Benefit Payments (Details 11) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Defined benefit pension plan, U.S. [Member] | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | ' |
2014 | $703 |
2015 | 731 |
2016 | 872 |
2017 | 907 |
2018 | 931 |
Years 2019-2023 | 4,139 |
Defined benefit pension plan, Non-U.S. [Member] | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | ' |
2014 | 112 |
2015 | 118 |
2016 | 123 |
2017 | 129 |
2018 | 140 |
Years 2019-2023 | 785 |
OPEB before Medicare Part D subsidary [Member] | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | ' |
2014 | 86 |
2015 | 85 |
2016 | 83 |
2017 | 81 |
2018 | 78 |
Years 2019-2023 | 345 |
Medicare Part D subsidy [Member] | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | ' |
2014 | 10 |
2015 | 11 |
2016 | 12 |
2017 | 12 |
2018 | 13 |
Years 2019-2023 | $47 |
Employee_StockBased_Incentives2
Employee Stock-Based Incentives - Employee Stock-Based Awards (Details) (USD $) | 1 Months Ended | 12 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Jan. 30, 2013 | Jan. 31, 2008 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Long-Term Incentive Plan [Member] | ' | ' | ' | ' | ' |
Employee stock-based awards general disclosures | ' | ' | ' | ' | ' |
Shares of common stock available for issuance | ' | ' | 266,000,000 | ' | ' |
Stock Appreciation Rights (SARs) [Member] | ' | ' | ' | ' | ' |
Employee stock-based awards general disclosures | ' | ' | ' | ' | ' |
Award vesting period | ' | ' | '5 years | ' | ' |
Award vesting percentage | ' | ' | 20.00% | ' | ' |
Award expiration period | ' | ' | '10 years | ' | ' |
Stock Appreciation Rights (SARs) [Member] | Chief Executive Officer [Member] | ' | ' | ' | ' | ' |
Employee stock-based awards general disclosures | ' | ' | ' | ' | ' |
Deferred compensation arrangement with individual, shares authorized for issuance | ' | ' | 2,000,000 | ' | ' |
Period over which vesting is deferred | '18 months | ' | ' | ' | ' |
Deferred compensation arrangement with individual, exercise price | ' | ' | $39.83 | ' | ' |
Deferred compensation arrangement with individual, requisite service period | ' | 'P5Y | 'P6Y6M | ' | ' |
Deferred compensation arrangement with individual, compensation expense | ' | ' | $14 | $5 | ($4) |
Second Fifty Percent [Member] | Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' | ' |
Employee stock-based awards general disclosures | ' | ' | ' | ' | ' |
Award vesting period | ' | ' | '3 years | ' | ' |
First Fifty Percent [Member] | Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' | ' |
Employee stock-based awards general disclosures | ' | ' | ' | ' | ' |
Award vesting period | ' | ' | '2 years | ' | ' |
Employee_StockBased_Incentives3
Employee Stock-Based Incentives - RSUs, Employee Stock Options and SARS Activities (Details 1) (USD $) | 12 Months Ended | ||
Share data in Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
RSU Number of Shares: | ' | ' | ' |
Outstanding, January 1 | 142,006 | ' | ' |
Granted | 46,171 | ' | ' |
Vested | -62,331 | ' | ' |
Forfeited | -4,605 | ' | ' |
Outstanding, December 31 | 121,241 | 142,006 | ' |
RSU's Weighted-Average Grant Date Fair Value (in dollars per share): | ' | ' | ' |
Outstanding, January 1 | $40.49 | ' | ' |
Granted | $46.92 | ' | ' |
Vested | $43.28 | ' | ' |
Forfeited | $40.77 | ' | ' |
Outstanding, December 31 | $41.47 | $40.49 | ' |
Employee Stock Options and SARs Weighted-Average Exercise Price (in dollars per share): | ' | ' | ' |
Total fair value of RSUs that vested | $2,900,000,000 | $2,800,000,000 | $5,400,000,000 |
Employee Stock Options and SARs [Member] | ' | ' | ' |
Employee Stock Options and SARs Number of Shares: | ' | ' | ' |
Outstanding, January 1 | 115,906 | ' | ' |
Granted | 12,563 | ' | ' |
Exercised | -35,825 | ' | ' |
Forfeited | -4,007 | ' | ' |
Canceled | -1,562 | ' | ' |
Outstanding, December 31 | 87,075 | 115,906 | ' |
Exercisable, December 31 | 46,855 | ' | ' |
Employee Stock Options and SARs Weighted-Average Exercise Price (in dollars per share): | ' | ' | ' |
Outstanding, January 1 | $42.44 | ' | ' |
Granted | $46.77 | ' | ' |
Exercised or vested | $37.32 | ' | ' |
Forfeited | $39.44 | ' | ' |
Canceled | $104.49 | ' | ' |
Outstanding, December 31 | $44.24 | $42.44 | ' |
Exercisable, December 31 | $47.50 | ' | ' |
Employee stock option and SARs activity, Weighted-average remaining contractual life (in years), Outstanding, December 31 | '5 years 7 months 6 days | ' | ' |
Employee stock option and SARs activity, Weighted-average remaining contractual life (in years), Exercisable, December 31 | '4 years 2 months 12 days | ' | ' |
Employee stock option and SARs activity, Aggregate intrinsic value, Outstanding, December 31 | 1,622,238,000 | ' | ' |
Employee stock option and SARs activity, Aggregate intrinsic value, Exercisable, December 31 | 904,017,000 | ' | ' |
Weighted average grant date per share of stock options and SARs granted | $9.58 | $8.89 | $13.04 |
Employee Stock Option [Member] | ' | ' | ' |
Employee Stock Options and SARs Weighted-Average Exercise Price (in dollars per share): | ' | ' | ' |
Total intrinsic value of options exercised | $507,000,000 | $283,000,000 | $191,000,000 |
Employee_StockBased_Incentives4
Employee Stock-Based Incentives - Compensation Expense (Details 2) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Noncash compensation expense related to employee stock-based incentive plans | ' | ' | ' |
Cost of prior grants of restricted stock units RSUs and stock appreciation rights SARs that are amortized over their applicable vesting periods | $1,440 | $1,810 | $1,986 |
Accrual of estimated costs of RSUs and SARs to be granted in future periods to full-career eligible employees | 779 | 735 | 689 |
Total noncash compensation expense related to employee stock-based incentive plans | 2,219 | 2,545 | 2,675 |
Compensation cost related to unvested awards not charged to net income | $848 | ' | ' |
Weighted average period for cost expected to be amortized into compensation expense | '1 year | ' | ' |
Employee_StockBased_Incentives5
Employee Stock-Based Incentives - Cash Flows and Tax Benefits (Details 3) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Tax benefit from compensation expense | $865 | $1,000 | $1,000 |
Employee Stock Option [Member] | ' | ' | ' |
Cash received from the exercise of stock options under all stock-based incentive arrangements, and the actual income tax benefit realized related to tax deductions from the exercise of the stock options | ' | ' | ' |
Cash received from options exercised | 166 | 333 | 354 |
Tax benefit realized | $42 | $53 | $31 |
Employee_StockBased_Incentives6
Employee Stock-Based Incentives - Valuation Assumptions (Details 4) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Weighted-average annualized valuation assumptions | ' | ' | ' |
Risk-free interest rate | 1.18% | 1.19% | 2.58% |
Expected dividend yield(a) | 2.66% | 3.15% | 2.20% |
Expected common stock price volatility | 28.00% | 35.00% | 34.00% |
Expected life (in years) | '6 years 7 months 6 days | '6 years 7 months 6 days | '6 years 6 months |
Noninterest_Expense_Details
Noninterest Expense (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Components of noninterest expense [Abstract] | ' | ' | ' |
Compensation expense | $30,810,000,000 | $30,585,000,000 | $29,037,000,000 |
Noncompensation expense: | ' | ' | ' |
Occupancy expense | 3,693,000,000 | 3,925,000,000 | 3,895,000,000 |
Technology, communications and equipment expense | 5,425,000,000 | 5,224,000,000 | 4,947,000,000 |
Professional and outside services | 7,641,000,000 | 7,429,000,000 | 7,482,000,000 |
Marketing | 2,500,000,000 | 2,577,000,000 | 3,143,000,000 |
Other expense | 19,761,000,000 | 14,032,000,000 | 13,559,000,000 |
Amortization of intangibles | 637,000,000 | 957,000,000 | 848,000,000 |
Total noncompensation expense | 39,657,000,000 | 34,144,000,000 | 33,874,000,000 |
Total noninterest expense | 70,467,000,000 | 64,729,000,000 | 62,911,000,000 |
Other expenses, additional details | ' | ' | ' |
FDIC related expense | 1,500,000,000 | 1,700,000,000 | 1,500,000,000 |
Threatened or Pending Litigation [Member] | ' | ' | ' |
Other expenses, additional details | ' | ' | ' |
Loss contingency, loss in period | $11,100,000,000 | $4,987,000,000 | $4,900,000,000 |
Securities_Realized_Gain_Loss_
Securities - Realized Gain (Loss) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Securities gains and losses | ' | ' | ' | |||
Realized gains | $1,302 | $2,610 | $1,811 | |||
Realized losses | -614 | -457 | -142 | |||
Net realized gains | 688 | 2,153 | 1,669 | |||
Total credit losses recognized in income | -21 | -43 | -76 | |||
Net securities gains | 667 | [1] | 2,110 | [1] | 1,593 | [1] |
Proceeds from securities sold, as percentage of amortized cost | 2.00% | 4.00% | 4.00% | |||
Corporate debt securities [Member] | ' | ' | ' | |||
Securities gains and losses | ' | ' | ' | |||
Other than temporary impairment losses investments portion previously recognized in earnings intends to sell net | 12 | 24 | ' | |||
Credit related [Member] | ' | ' | ' | |||
Securities gains and losses | ' | ' | ' | |||
Total credit losses recognized in income | -1 | -28 | -76 | |||
Intent to sell [Member] | ' | ' | ' | |||
Securities gains and losses | ' | ' | ' | |||
Total credit losses recognized in income | ($20) | ($15) | $0 | |||
[1] | The following other-than-temporary impairment losses are included in securities gains for the periods presented.Year ended December 31, (in millions) 2013 2012 2011Debt securities the Firm does not intend to sell that have credit losses Total other-than-temporary impairment losses $(1) $(113) $(27)Losses recorded in/(reclassified from) other comprehensive income — 85 (49)Total credit losses recognized in income (1) (28) (76)Securities the Firm intends to sell (20) (15) —Total other-than-temporary impairment losses recognized in income $(21) $(43) $(76) |
Securities_Amortized_Costs_Fai
Securities - Amortized Costs, Fair Value (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Available-for-sale, amortized costs and estimated fair values | ' | ' |
Available-for-sale Securities, Amortized Cost | $325,378 | $359,892 |
Available-for-sale Securities, Gross Unrealized Gains | 7,215 | 11,503 |
Available-for-sale Securities, Gross Unrealized Losses | 2,616 | 250 |
Available-for-sale Securities | 329,977 | 371,145 |
Held-to-maturity, amortized costs and estimated fair values | ' | ' |
Held-to-maturity Securities, Amortized Cost | 24,026 | 7 |
Held-to-maturity Securities, Gross unrealized gains | 22 | 1 |
Held-to-maturity Securities, Gross unrealized losses | 317 | 0 |
Held-to-maturity Securities, Fair Value | 23,731 | 8 |
Debt securities [Member] | ' | ' |
Available-for-sale, amortized costs and estimated fair values | ' | ' |
Available-for-sale Securities, Amortized Cost | 322,253 | 357,142 |
Available-for-sale Securities, Gross Unrealized Gains | 7,198 | 11,482 |
Available-for-sale Securities, Gross Unrealized Losses | 2,616 | 250 |
Available-for-sale Securities | 326,835 | 368,374 |
Mortgage-backed securities [Member] | ' | ' |
Available-for-sale, amortized costs and estimated fair values | ' | ' |
Available-for-sale Securities, Amortized Cost | 153,419 | 178,997 |
Available-for-sale Securities, Gross Unrealized Gains | 4,322 | 7,291 |
Available-for-sale Securities, Gross Unrealized Losses | 1,032 | 58 |
Available-for-sale Securities | 156,709 | 186,230 |
U.S. government agencies [Member] | ' | ' |
Available-for-sale, amortized costs and estimated fair values | ' | ' |
Available-for-sale Securities, Amortized Cost | 76,428 | 93,693 |
Available-for-sale Securities, Gross Unrealized Gains | 2,364 | 4,708 |
Available-for-sale Securities, Gross Unrealized Losses | 977 | 13 |
Available-for-sale Securities | 77,815 | 98,388 |
Held-to-maturity, amortized costs and estimated fair values | ' | ' |
Held-to-maturity Securities, Amortized Cost | 23,107 | ' |
Commercial mortgage [Member] | ' | ' |
Available-for-sale, amortized costs and estimated fair values | ' | ' |
Available-for-sale Securities, Amortized Cost | 15,891 | 12,268 |
Available-for-sale Securities, Gross Unrealized Gains | 560 | 948 |
Available-for-sale Securities, Gross Unrealized Losses | 26 | 13 |
Available-for-sale Securities | 16,425 | 13,203 |
U.S. Treasury and government agencies [Member] | ' | ' |
Available-for-sale, amortized costs and estimated fair values | ' | ' |
Available-for-sale Securities, Amortized Cost | 21,310 | 12,022 |
Available-for-sale Securities, Gross Unrealized Gains | 385 | 116 |
Available-for-sale Securities, Gross Unrealized Losses | 306 | 8 |
Available-for-sale Securities | 21,389 | 12,130 |
Obligations of U.S. states and municipalities [Member] | ' | ' |
Available-for-sale, amortized costs and estimated fair values | ' | ' |
Available-for-sale Securities, Amortized Cost | 29,741 | 19,876 |
Available-for-sale Securities, Gross Unrealized Gains | 707 | 1,845 |
Available-for-sale Securities, Gross Unrealized Losses | 987 | 10 |
Available-for-sale Securities | 29,461 | 21,711 |
Held-to-maturity, amortized costs and estimated fair values | ' | ' |
Held-to-maturity Securities, Amortized Cost | 920 | ' |
Certificates of deposit [Member] | ' | ' |
Available-for-sale, amortized costs and estimated fair values | ' | ' |
Available-for-sale Securities, Amortized Cost | 1,041 | 2,781 |
Available-for-sale Securities, Gross Unrealized Gains | 1 | 4 |
Available-for-sale Securities, Gross Unrealized Losses | 1 | 2 |
Available-for-sale Securities | 1,041 | 2,783 |
Non-U.S. government debt securities [Member] | ' | ' |
Available-for-sale, amortized costs and estimated fair values | ' | ' |
Available-for-sale Securities, Amortized Cost | 55,507 | 65,168 |
Available-for-sale Securities, Gross Unrealized Gains | 863 | 901 |
Available-for-sale Securities, Gross Unrealized Losses | 122 | 25 |
Available-for-sale Securities | 56,248 | 66,044 |
Corporate debt securities [Member] | ' | ' |
Available-for-sale, amortized costs and estimated fair values | ' | ' |
Available-for-sale Securities, Amortized Cost | 21,043 | 37,999 |
Available-for-sale Securities, Gross Unrealized Gains | 498 | 694 |
Available-for-sale Securities, Gross Unrealized Losses | 29 | 84 |
Available-for-sale Securities | 21,512 | 38,609 |
Collateralized loan obligations [Member] | ' | ' |
Available-for-sale, amortized costs and estimated fair values | ' | ' |
Available-for-sale Securities, Amortized Cost | 28,130 | 27,483 |
Available-for-sale Securities, Gross Unrealized Gains | 236 | 465 |
Available-for-sale Securities, Gross Unrealized Losses | 136 | 52 |
Available-for-sale Securities | 28,230 | 27,896 |
Other debt obligations [Member] | ' | ' |
Available-for-sale, amortized costs and estimated fair values | ' | ' |
Available-for-sale Securities, Amortized Cost | 12,062 | 12,816 |
Available-for-sale Securities, Gross Unrealized Gains | 186 | 166 |
Available-for-sale Securities, Gross Unrealized Losses | 3 | 11 |
Available-for-sale Securities | 12,245 | 12,971 |
US government-sponsored and enterprises obligations [Member] | ' | ' |
Available-for-sale, amortized costs and estimated fair values | ' | ' |
Available-for-sale Securities | 67,000 | 84,000 |
Equity securities [Member] | ' | ' |
Available-for-sale, amortized costs and estimated fair values | ' | ' |
Available-for-sale Securities, Amortized Cost | 3,125 | 2,750 |
Available-for-sale Securities, Gross Unrealized Gains | 17 | 21 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities | 3,142 | 2,771 |
Residential mortgage-backed securities [Member] | Prime and Alt-A [Member] | ' | ' |
Available-for-sale, amortized costs and estimated fair values | ' | ' |
Available-for-sale Securities, Amortized Cost | 2,744 | 1,853 |
Available-for-sale Securities, Gross Unrealized Gains | 61 | 83 |
Available-for-sale Securities, Gross Unrealized Losses | 27 | 3 |
Available-for-sale Securities | 2,778 | 1,933 |
Residential mortgage-backed securities [Member] | Subprime [Member] | ' | ' |
Available-for-sale, amortized costs and estimated fair values | ' | ' |
Available-for-sale Securities, Amortized Cost | 908 | 825 |
Available-for-sale Securities, Gross Unrealized Gains | 23 | 28 |
Available-for-sale Securities, Gross Unrealized Losses | 1 | 0 |
Available-for-sale Securities | 930 | 853 |
Residential mortgage-backed securities [Member] | Non- U.S. [Member] | ' | ' |
Available-for-sale, amortized costs and estimated fair values | ' | ' |
Available-for-sale Securities, Amortized Cost | 57,448 | 70,358 |
Available-for-sale Securities, Gross Unrealized Gains | 1,314 | 1,524 |
Available-for-sale Securities, Gross Unrealized Losses | 1 | 29 |
Available-for-sale Securities | $58,761 | $71,853 |
Securities_Impairment_Details_
Securities - Impairment (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ' | ' |
Less than 12 months, Fair value | $101,248 | $37,687 |
Less than 12 months, Gross unrealized losses | 2,755 | 104 |
12 months or more, Fair Value | 3,319 | 11,028 |
12 months or more, Gross unrealized losses | 178 | 146 |
Total fair value | 104,567 | 48,715 |
Total gross unrealized losses | 2,933 | 250 |
Held-to-maturity Securities, Securities with Gross Unrealized Losses: | ' | ' |
Less than 12 months, Fair value | 20,745 | 0 |
Less than 12 months, Gross unrealized losses | 317 | 0 |
12 months or more, Fair value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 20,745 | 0 |
Total gross unrealized losses | 317 | 0 |
Debt securities [Member] | ' | ' |
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ' | ' |
Less than 12 months, Fair value | 80,503 | 37,687 |
Less than 12 months, Gross unrealized losses | 2,438 | 104 |
12 months or more, Fair Value | 3,319 | 11,028 |
12 months or more, Gross unrealized losses | 178 | 146 |
Total fair value | 83,822 | 48,715 |
Total gross unrealized losses | 2,616 | 250 |
Mortgage-backed securities [Member] | ' | ' |
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ' | ' |
Less than 12 months, Fair value | 25,486 | 6,259 |
Less than 12 months, Gross unrealized losses | 949 | 29 |
12 months or more, Fair Value | 1,308 | 1,122 |
12 months or more, Gross unrealized losses | 83 | 29 |
Total fair value | 26,794 | 7,381 |
Total gross unrealized losses | 1,032 | 58 |
U.S. government agencies [Member] | ' | ' |
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ' | ' |
Less than 12 months, Fair value | 20,293 | 2,440 |
Less than 12 months, Gross unrealized losses | 895 | 13 |
12 months or more, Fair Value | 1,150 | 0 |
12 months or more, Gross unrealized losses | 82 | 0 |
Total fair value | 21,443 | 2,440 |
Total gross unrealized losses | 977 | 13 |
Commercial mortgage [Member] | ' | ' |
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ' | ' |
Less than 12 months, Fair value | 3,980 | 1,159 |
Less than 12 months, Gross unrealized losses | 26 | 8 |
12 months or more, Fair Value | 0 | 312 |
12 months or more, Gross unrealized losses | 0 | 5 |
Total fair value | 3,980 | 1,471 |
Total gross unrealized losses | 26 | 13 |
U.S. Treasury and government agencies [Member] | ' | ' |
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ' | ' |
Less than 12 months, Fair value | 6,293 | 4,198 |
Less than 12 months, Gross unrealized losses | 250 | 8 |
12 months or more, Fair Value | 237 | 0 |
12 months or more, Gross unrealized losses | 56 | 0 |
Total fair value | 6,530 | 4,198 |
Total gross unrealized losses | 306 | 8 |
Obligations of U.S. states and municipalities [Member] | ' | ' |
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ' | ' |
Less than 12 months, Fair value | 15,387 | 907 |
Less than 12 months, Gross unrealized losses | 975 | 10 |
12 months or more, Fair Value | 55 | 0 |
12 months or more, Gross unrealized losses | 12 | 0 |
Total fair value | 15,442 | 907 |
Total gross unrealized losses | 987 | 10 |
Certificates of deposit [Member] | ' | ' |
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ' | ' |
Less than 12 months, Fair value | 988 | 741 |
Less than 12 months, Gross unrealized losses | 1 | 2 |
12 months or more, Fair Value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 988 | 741 |
Total gross unrealized losses | 1 | 2 |
Non-U.S. government debt securities [Member] | ' | ' |
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ' | ' |
Less than 12 months, Fair value | 11,286 | 14,527 |
Less than 12 months, Gross unrealized losses | 110 | 21 |
12 months or more, Fair Value | 821 | 1,927 |
12 months or more, Gross unrealized losses | 12 | 4 |
Total fair value | 12,107 | 16,454 |
Total gross unrealized losses | 122 | 25 |
Corporate debt securities [Member] | ' | ' |
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ' | ' |
Less than 12 months, Fair value | 1,580 | 2,651 |
Less than 12 months, Gross unrealized losses | 21 | 10 |
12 months or more, Fair Value | 505 | 5,641 |
12 months or more, Gross unrealized losses | 8 | 74 |
Total fair value | 2,085 | 8,292 |
Total gross unrealized losses | 29 | 84 |
Collateralized loan obligations [Member] | ' | ' |
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ' | ' |
Less than 12 months, Fair value | 18,369 | 6,328 |
Less than 12 months, Gross unrealized losses | 129 | 17 |
12 months or more, Fair Value | 393 | 2,063 |
12 months or more, Gross unrealized losses | 7 | 35 |
Total fair value | 18,762 | 8,391 |
Total gross unrealized losses | 136 | 52 |
Other debt obligations [Member] | ' | ' |
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ' | ' |
Less than 12 months, Fair value | 1,114 | 2,076 |
Less than 12 months, Gross unrealized losses | 3 | 7 |
12 months or more, Fair Value | 0 | 275 |
12 months or more, Gross unrealized losses | 0 | 4 |
Total fair value | 1,114 | 2,351 |
Total gross unrealized losses | 3 | 11 |
Equity securities [Member] | ' | ' |
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ' | ' |
Less than 12 months, Fair value | 0 | 0 |
Less than 12 months, Gross unrealized losses | 0 | 0 |
12 months or more, Fair Value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 0 | 0 |
Total gross unrealized losses | 0 | 0 |
Residential mortgage-backed securities [Member] | Prime and Alt-A [Member] | ' | ' |
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ' | ' |
Less than 12 months, Fair value | 1,061 | 218 |
Less than 12 months, Gross unrealized losses | 27 | 2 |
12 months or more, Fair Value | 0 | 76 |
12 months or more, Gross unrealized losses | 0 | 1 |
Total fair value | 1,061 | 294 |
Total gross unrealized losses | 27 | 3 |
Residential mortgage-backed securities [Member] | Subprime [Member] | ' | ' |
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ' | ' |
Less than 12 months, Fair value | 152 | 0 |
Less than 12 months, Gross unrealized losses | 1 | 0 |
12 months or more, Fair Value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 152 | 0 |
Total gross unrealized losses | 1 | 0 |
Residential mortgage-backed securities [Member] | Non- U.S. [Member] | ' | ' |
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ' | ' |
Less than 12 months, Fair value | 0 | 2,442 |
Less than 12 months, Gross unrealized losses | 0 | 6 |
12 months or more, Fair Value | 158 | 734 |
12 months or more, Gross unrealized losses | 1 | 23 |
Total fair value | 158 | 3,176 |
Total gross unrealized losses | $1 | $29 |
Securities_Other_Than_Temporar
Securities - Other Than Temporary Impairment (Details 3) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other-than-temporary impairment, [Abstract] | ' | ' | ' |
Total other-than-temporary impairment losses | ($1) | ($113) | ($27) |
Losses recorded in/(reclassified from) other comprehensive income | 0 | 85 | -49 |
OTTI losses recognized in income | -21 | -43 | -76 |
Corporate debt securities [Member] | ' | ' | ' |
Other-than-temporary impairment, [Abstract] | ' | ' | ' |
Other than temporary impairment losses investments portion previously recognized in earnings intends to sell net | 12 | 24 | ' |
Credit related [Member] | ' | ' | ' |
Other-than-temporary impairment, [Abstract] | ' | ' | ' |
OTTI losses recognized in income | -1 | -28 | -76 |
Intent to sell [Member] | ' | ' | ' |
Other-than-temporary impairment, [Abstract] | ' | ' | ' |
OTTI losses recognized in income | ($20) | ($15) | $0 |
Securities_Changes_in_Credit_L
Securities - Changes in Credit Loss (Details 4) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Changes in the credit loss component of credit-impaired debt securities, securities with no intent to sell [Abstract] | ' | ' | ' |
Balance, beginning of period | $522 | $708 | $632 |
Additions: | ' | ' | ' |
Newly credit-impaired securities | 1 | 21 | 4 |
Losses reclassified from other comprehensive income on previously credit-impaired securities | 0 | -7 | -72 |
Reductions: | ' | ' | ' |
Sales of credit-impaired securities | -522 | -214 | 0 |
Balance, end of period | $1 | $522 | $708 |
Securities_Amortized_Cost_Fair
Securities - Amortized Cost, Fair Value, by Contract Maturity (Details 5) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in 1 year or less, amortized cost | $24,160 | ' |
Due after 1 year through 5 years, amortized cost | 56,194 | ' |
Due after 5 years through 10 years, amortized cost | 57,032 | ' |
Due after 10 years, amortized cost | 187,992 | ' |
Available-for-sale securities, maturities, amortized cost, total | 325,378 | 359,892 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in 1 year or less, fair value | 24,186 | ' |
Due after 1 year through 5 years, fair value | 57,199 | ' |
Due after 5 years through 10 years, fair value | 58,003 | ' |
Due after 10 years, fair value | 190,589 | ' |
Available-for-sale Securities | 329,977 | 371,145 |
Available For Sale Securities, Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in 1 year or less, average yield | 1.91% | ' |
Due after 1 year through 5 years, average yield | 1.93% | ' |
Due after 5 years through 10 years, average yield | 1.87% | ' |
Due after 10 years, average yield | 3.20% | ' |
Available-for-sale securities, maturities, average yield, total | 2.65% | ' |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in 1 year or less, amortized cost | 0 | ' |
Due after 1 year through 5 years, amortized cost | 3 | ' |
Due after 5 years through 10 years, amortized cost | 1 | ' |
Due after 10 years, amortized cost | 24,022 | ' |
Held-to-maturity securities, maturities, amortized cost, total | 24,026 | 7 |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in 1 year or less, fair value | 0 | ' |
Due after 1 year through 5 years, fair value | 4 | ' |
Due after 5 years through 10 years, fair value | 1 | ' |
Due after 10 years, fair value | 23,726 | ' |
Held-to-maturity Securities, Fair Value | 23,731 | 8 |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Average Yield [Abstract] | ' | ' |
Due in 1 year or less, average yield | 0.00% | ' |
Due after 1 year through 5 years, average yield | 6.86% | ' |
Due after 5 years through 10 years, average yield | 6.48% | ' |
Due after 10 years, average yield | 3.53% | ' |
Held-to-maturity securities, maturities, average yield, total | 3.53% | ' |
Supplemental information | ' | ' |
US government agencies and US government sponsored enterprises residential mortgage-backed securities estimated duration | '5 years | ' |
US government agencies and US government sponsored enterprises residential collateralized mortgage obligations estimated duration | '2 years | ' |
Non-agency residential collateralized mortgage obligations estimated duration | '3 years | ' |
Minimum [Member] | ' | ' |
Supplemental information | ' | ' |
Due period of mortgage-backed securities and collateralized mortgage obligations | '10 years | ' |
Debt securities [Member] | ' | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in 1 year or less, amortized cost | 24,160 | ' |
Due after 1 year through 5 years, amortized cost | 56,194 | ' |
Due after 5 years through 10 years, amortized cost | 57,032 | ' |
Due after 10 years, amortized cost | 184,867 | ' |
Available-for-sale securities, debt maturities, amortized cost total | 322,253 | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in 1 year or less, fair value | 24,186 | ' |
Due after 1 year through 5 years, fair value | 57,199 | ' |
Due after 5 years through 10 years, fair value | 58,003 | ' |
Due after 10 years, fair value | 187,447 | ' |
Available-for-sale, debt maturities, fair value, total | 326,835 | ' |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in 1 year or less, average yield | 1.91% | ' |
Due after 1 year through 5 years, average yield | 1.93% | ' |
Due after 5 years through 10 years, average yield | 1.87% | ' |
Due after 10 years, average yield | 3.25% | ' |
Available-for-sale, debt maturities, average yield, total | 2.67% | ' |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Available-for-sale securities, maturities, amortized cost, total | 322,253 | 357,142 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ' | ' |
Available-for-sale Securities | 326,835 | 368,374 |
Mortgage-backed securities [Member] | ' | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in 1 year or less, amortized cost | 209 | ' |
Due after 1 year through 5 years, amortized cost | 13,689 | ' |
Due after 5 years through 10 years, amortized cost | 8,239 | ' |
Due after 10 years, amortized cost | 131,282 | ' |
Available-for-sale securities, debt maturities, amortized cost total | 153,419 | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in 1 year or less, fair value | 210 | ' |
Due after 1 year through 5 years, fair value | 14,117 | ' |
Due after 5 years through 10 years, fair value | 8,489 | ' |
Due after 10 years, fair value | 133,893 | ' |
Available-for-sale, debt maturities, fair value, total | 156,709 | ' |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in 1 year or less, average yield | 2.17% | ' |
Due after 1 year through 5 years, average yield | 2.10% | ' |
Due after 5 years through 10 years, average yield | 2.83% | ' |
Due after 10 years, average yield | 2.93% | ' |
Available-for-sale, debt maturities, average yield, total | 2.85% | ' |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Available-for-sale securities, maturities, amortized cost, total | 153,419 | 178,997 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ' | ' |
Available-for-sale Securities | 156,709 | 186,230 |
U.S. Treasury and government agencies [Member] | ' | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in 1 year or less, amortized cost | 8,781 | ' |
Due after 1 year through 5 years, amortized cost | 10,246 | ' |
Due after 5 years through 10 years, amortized cost | 1,425 | ' |
Due after 10 years, amortized cost | 858 | ' |
Available-for-sale securities, debt maturities, amortized cost total | 21,310 | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in 1 year or less, fair value | 8,792 | ' |
Due after 1 year through 5 years, fair value | 10,257 | ' |
Due after 5 years through 10 years, fair value | 1,425 | ' |
Due after 10 years, fair value | 915 | ' |
Available-for-sale, debt maturities, fair value, total | 21,389 | ' |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in 1 year or less, average yield | 0.36% | ' |
Due after 1 year through 5 years, average yield | 0.39% | ' |
Due after 5 years through 10 years, average yield | 0.34% | ' |
Due after 10 years, average yield | 0.59% | ' |
Available-for-sale, debt maturities, average yield, total | 0.38% | ' |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Available-for-sale securities, maturities, amortized cost, total | 21,310 | 12,022 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ' | ' |
Available-for-sale Securities | 21,389 | 12,130 |
Obligations of U.S. states and municipalities [Member] | ' | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in 1 year or less, amortized cost | 57 | ' |
Due after 1 year through 5 years, amortized cost | 479 | ' |
Due after 5 years through 10 years, amortized cost | 1,644 | ' |
Due after 10 years, amortized cost | 27,561 | ' |
Available-for-sale securities, debt maturities, amortized cost total | 29,741 | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in 1 year or less, fair value | 58 | ' |
Due after 1 year through 5 years, fair value | 505 | ' |
Due after 5 years through 10 years, fair value | 1,664 | ' |
Due after 10 years, fair value | 27,234 | ' |
Available-for-sale, debt maturities, fair value, total | 29,461 | ' |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in 1 year or less, average yield | 3.12% | ' |
Due after 1 year through 5 years, average yield | 4.91% | ' |
Due after 5 years through 10 years, average yield | 4.27% | ' |
Due after 10 years, average yield | 6.19% | ' |
Available-for-sale, debt maturities, average yield, total | 6.06% | ' |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Available-for-sale securities, maturities, amortized cost, total | 29,741 | 19,876 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ' | ' |
Available-for-sale Securities | 29,461 | 21,711 |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Held-to-maturity securities, maturities, amortized cost, total | 920 | ' |
Certificates of deposit [Member] | ' | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in 1 year or less, amortized cost | 990 | ' |
Due after 1 year through 5 years, amortized cost | 51 | ' |
Due after 5 years through 10 years, amortized cost | 0 | ' |
Due after 10 years, amortized cost | 0 | ' |
Available-for-sale securities, debt maturities, amortized cost total | 1,041 | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in 1 year or less, fair value | 988 | ' |
Due after 1 year through 5 years, fair value | 53 | ' |
Due after 5 years through 10 years, fair value | 0 | ' |
Due after 10 years, fair value | 0 | ' |
Available-for-sale, debt maturities, fair value, total | 1,041 | ' |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in 1 year or less, average yield | 6.37% | ' |
Due after 1 year through 5 years, average yield | 3.28% | ' |
Due after 5 years through 10 years, average yield | 0.00% | ' |
Due after 10 years, average yield | 0.00% | ' |
Available-for-sale, debt maturities, average yield, total | 6.22% | ' |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Available-for-sale securities, maturities, amortized cost, total | 1,041 | 2,781 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ' | ' |
Available-for-sale Securities | 1,041 | 2,783 |
Non-U.S. government debt securities [Member] | ' | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in 1 year or less, amortized cost | 11,210 | ' |
Due after 1 year through 5 years, amortized cost | 16,999 | ' |
Due after 5 years through 10 years, amortized cost | 24,735 | ' |
Due after 10 years, amortized cost | 2,563 | ' |
Available-for-sale securities, debt maturities, amortized cost total | 55,507 | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in 1 year or less, fair value | 11,223 | ' |
Due after 1 year through 5 years, fair value | 17,191 | ' |
Due after 5 years through 10 years, fair value | 25,166 | ' |
Due after 10 years, fair value | 2,668 | ' |
Available-for-sale, debt maturities, fair value, total | 56,248 | ' |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in 1 year or less, average yield | 2.72% | ' |
Due after 1 year through 5 years, average yield | 2.26% | ' |
Due after 5 years through 10 years, average yield | 1.39% | ' |
Due after 10 years, average yield | 1.64% | ' |
Available-for-sale, debt maturities, average yield, total | 1.94% | ' |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Available-for-sale securities, maturities, amortized cost, total | 55,507 | 65,168 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ' | ' |
Available-for-sale Securities | 56,248 | 66,044 |
Corporate debt securities [Member] | ' | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in 1 year or less, amortized cost | 2,871 | ' |
Due after 1 year through 5 years, amortized cost | 12,318 | ' |
Due after 5 years through 10 years, amortized cost | 5,854 | ' |
Due after 10 years, amortized cost | 0 | ' |
Available-for-sale securities, debt maturities, amortized cost total | 21,043 | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in 1 year or less, fair value | 2,873 | ' |
Due after 1 year through 5 years, fair value | 12,638 | ' |
Due after 5 years through 10 years, fair value | 6,001 | ' |
Due after 10 years, fair value | 0 | ' |
Available-for-sale, debt maturities, fair value, total | 21,512 | ' |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in 1 year or less, average yield | 1.94% | ' |
Due after 1 year through 5 years, average yield | 2.41% | ' |
Due after 5 years through 10 years, average yield | 2.60% | ' |
Due after 10 years, average yield | 0.00% | ' |
Available-for-sale, debt maturities, average yield, total | 2.40% | ' |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Available-for-sale securities, maturities, amortized cost, total | 21,043 | 37,999 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ' | ' |
Available-for-sale Securities | 21,512 | 38,609 |
Asset-backed securities [Member] | ' | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in 1 year or less, amortized cost | 42 | ' |
Due after 1 year through 5 years, amortized cost | 2,412 | ' |
Due after 5 years through 10 years, amortized cost | 15,135 | ' |
Due after 10 years, amortized cost | 22,603 | ' |
Available-for-sale securities, debt maturities, amortized cost total | 40,192 | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in 1 year or less, fair value | 42 | ' |
Due after 1 year through 5 years, fair value | 2,438 | ' |
Due after 5 years through 10 years, fair value | 15,258 | ' |
Due after 10 years, fair value | 22,737 | ' |
Available-for-sale, debt maturities, fair value, total | 40,475 | ' |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in 1 year or less, average yield | 2.17% | ' |
Due after 1 year through 5 years, average yield | 1.98% | ' |
Due after 5 years through 10 years, average yield | 1.74% | ' |
Due after 10 years, average yield | 1.80% | ' |
Available-for-sale, debt maturities, average yield, total | 1.79% | ' |
Equity securities [Member] | ' | ' |
Available-for-sale Securities, Equity Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in 1 year or less, amortized cost | 0 | ' |
Due after 1 year through 5 years, amortized cost | 0 | ' |
Due after 5 years through 10 years, amortized cost | 0 | ' |
Due after 10 years, amortized cost | 3,125 | ' |
Equity maturities, amortized cost, total | 3,125 | ' |
Available-for-sale Securities, Equity Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in 1 year or less, fair value | 0 | ' |
Due after 1 year through 5 years, fair value | 0 | ' |
Due after 5 years through 10 years, fair value | 0 | ' |
Due after 10 years, fair value | 3,142 | ' |
Available-for-sale securities, equity maturities, fair value, total | 3,142 | ' |
Available For Sale Securities, Equity Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in 1 year or less, average yield | 0.00% | ' |
Due after 1 year through 5 years, average yield | 0.00% | ' |
Due after 5 years through 10 years, average yield | 0.00% | ' |
Due after 10 years, average yield | 0.20% | ' |
Available-for-sale securities, equity maturities, average yield, total | 0.20% | ' |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Available-for-sale securities, maturities, amortized cost, total | 3,125 | 2,750 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ' | ' |
Available-for-sale Securities | $3,142 | $2,771 |
Securities_Financing_Activitie2
Securities Financing Activities - Schedule of securities purchased under resale agreements, netting & securities borrowed (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Securities purchased under resale agreements: | ' | ' |
Securities purchased under resale agreements with an appropriate legal opinion, Gross asset balance | $354,814,000,000 | $381,377,000,000 |
Securities purchased under resale agreements with an appropriate legal opinion, Net asset balance | 239,406,000,000 | 284,430,000,000 |
Securities purchased under resale agreements where an appropriate legal opinion has not been either sought or obtained | 8,279,000,000 | 10,983,000,000 |
Total securities purchased under resale agreements, Gross asset balance | 363,093,000,000 | 392,360,000,000 |
Amounts netted on the Consolidated Balance Sheets | -115,408,000,000 | -96,947,000,000 |
Total securities purchased under resale agreements, Net asset balance | 247,685,000,000 | 295,413,000,000 |
Securities borrowed | 111,465,000,000 | 119,017,000,000 |
Securities purchased under resale agreements, fair value | 248,116,000,000 | 296,296,000,000 |
Securities borrowed, amount not offset against collateral, gross | 26,900,000,000 | 28,400,000,000 |
Portion at Fair Value Measurement [Member] | ' | ' |
Securities purchased under resale agreements: | ' | ' |
Securities borrowed | 3,700,000,000 | 10,200,000,000 |
Securities purchased under resale agreements, fair value | $25,100,000,000 | $24,300,000,000 |
Securities_Financing_Activitie3
Securities Financing Activities - Schedule of securities purchased under resale agreements & securities borrowed collateral netting (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Securities purchased under resale agreements with an appropriate legal opinion: | ' | ' |
Net asset balance | $239,406 | $284,430 |
Amounts not nettable on the Consolidated Balance Sheets, Financial instruments | -234,495 | -282,468 |
Amounts not nettable on the Consolidated Balance Sheets, Cash collateral | -98 | -998 |
Net exposure | 4,813 | 964 |
Securities borrowed: | ' | ' |
Net asset balance | 84,531 | 90,609 |
Amounts not nettable on the Consolidated Balance Sheets, Financial instruments | -81,127 | -87,651 |
Amounts not nettable on the Consolidated Balance Sheets, Cash collateral | 0 | 0 |
Net exposure | $3,404 | $2,958 |
Securities_Financing_Activitie4
Securities Financing Activities - Schedule of securities sold under repurchase agreements, netting & securities loaned (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Securities Financing Transaction [Line Items] | ' | ' |
Securities sold under repurchase agreements with an appropriate legal opinion, Gross liability | $261,265 | $301,352 |
Securities sold under repurchase agreements with an appropriate legal opinion, Net liability | 145,857 | 204,405 |
Securities sold under repurchase agreements where an appropriate legal opinion has not been either sought or obtained | 14,508 | 11,155 |
Total securities sold under repurchase agreements, Gross liability | 275,773 | 312,507 |
Amounts netted on the Consolidated Balance Sheets | -115,408 | -96,947 |
Total securities sold under repurchase agreements, Net liability | 160,365 | 215,560 |
Securities loaned | 25,769 | 30,458 |
Securities Loaned, Amount Not Offset Against Collateral, Gross | 397 | 889 |
Securities-For-Securities Borrow Versus Pledge Transactions [Member] | ' | ' |
Securities Financing Transaction [Line Items] | ' | ' |
Securities loaned | 5,800 | 6,900 |
Recurring [Member] | Portion at Fair Value Measurement [Member] | ' | ' |
Securities Financing Transaction [Line Items] | ' | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements, fair value | 5,426 | 4,388 |
Recurring [Member] | Portion at Fair Value Measurement [Member] | Securities Sold under Agreements to Repurchase [Member] | ' | ' |
Securities Financing Transaction [Line Items] | ' | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements, fair value | 4,900 | 3,900 |
Recurring [Member] | Portion at Fair Value Measurement [Member] | Securities Loaned [Member] | ' | ' |
Securities Financing Transaction [Line Items] | ' | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements, fair value | $483 | $457 |
Securities_Financing_Activitie5
Securities Financing Activities - Schedule of securities sold under repurchase agreements & securities loaned collateral netting (Details 3) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Securities sold under repurchase agreements with an appropriate legal opinion: | ' | ' |
Net liability balance | $145,857,000,000 | $204,405,000,000 |
Amounts not nettable on the Consolidated balance sheets, Financial Instruments | -142,686,000,000 | -202,925,000,000 |
Amounts not nettable on the Consolidated balance sheets, Cash collateral | -450,000,000 | -162,000,000 |
Net amount | 2,721,000,000 | 1,318,000,000 |
Securities loaned: | ' | ' |
Net liability | 25,372,000,000 | 29,569,000,000 |
Amounts not nettable on the Consolidated balance sheets, Financial Instruments | -25,125,000,000 | -28,465,000,000 |
Amounts not nettable on the Consolidated balance sheets, Cash collateral | 0 | 0 |
Net amount | 247,000,000 | 1,104,000,000 |
Transfers not qualifying for sale accounting | $14,600,000,000 | $9,600,000,000 |
Loans_By_Portfolio_Segment_Det
Loans - By Portfolio Segment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 |
Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Residential mortgage [Member] | Days Past Due, 90 or More [Member] | Days Past Due, 30 or More [Member] | Current, and Less Than 90 Days Past Due [Member] | Days Past Due, 180 or More [Member] | Days Past Due, 120 or More [Member] | Days Past Due, 60 or More, or Sooner with Determination of Collateral Dependence [Member] | Days Until Charge-Off, Less Than 60, with Notification of Bankruptcy Filing or Other Event [Member] | Days Past Due, 60 or More, with Notification of Bankruptcy Filing or Other Event [Member] | Financing Receivable, Policy, Current [Member] | Financing Receivable, Policy, Previous [Member] | Maximum [Member] | Maximum [Member] | Minimum [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | ||||
Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Residential Real Estate, Non-Modified Credit Card and Scored Business Banking Loans [Member] | Auto and Student Loans [Member] | Residential Real Estate and Auto Loans [Member] | Credit Card and Scored Business Banking Loans [Member] | Student Loans [Member] | Days Past Due, 120 or More [Member] | Days Past Due, 180 or More [Member] | Residential mortgage [Member] | Real estate [Member] | Real estate [Member] | Minimum [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Days Past Due, 90 or More [Member] | Days Past Due, 30 or More [Member] | Real estate [Member] | Real estate [Member] | ||||||||||||||||
Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | loan_payment | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | |||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period past due, credit analysis factors, charge off criteria | ' | ' | ' | ' | ' | ' | '90 days | '30 days | '90 days | ' | ' | '60 days | '60 days | '60 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans, charge-off criteria, period pas due | ' | ' | ' | ' | ' | ' | ' | ' | ' | '180 days | '120 days | ' | ' | ' | '120 days | '180 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | '30 days | ' | ' | ' | ' | ' |
Number of months before updating exterior opinion on home valuation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of months before updating collateral values on commercial real estate loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 months | '6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of months the borrower has performed under modified terms | ' | ' | ' | ' | ' | '6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of payments under modified terms to recognize interest on cash basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loan balances by portfolio segment: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total retained loans | $724,177,000,000 | $726,835,000,000 | $718,997,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $288,449,000,000 | $292,620,000,000 | $308,427,000,000 | ' | $127,465,000,000 | $127,993,000,000 | $132,175,000,000 | $127,465,000,000 | $127,993,000,000 | ' | ' | $308,263,000,000 | $306,222,000,000 | $278,395,000,000 | $69,151,000,000 | $60,740,000,000 |
Held-for-sale | 12,230,000,000 | 4,406,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 614,000,000 | 0 | ' | ' | 326,000,000 | 0 | ' | ' | ' | ' | ' | 11,290,000,000 | 4,406,000,000 | ' | ' | ' |
At fair value | 2,011,000,000 | 2,555,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | 2,011,000,000 | 2,555,000,000 | ' | ' | ' |
Loans | 738,418,000,000 | 733,796,000,000 | ' | 289,063,000,000 | 292,620,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 289,063,000,000 | 292,620,000,000 | ' | ' | 127,791,000,000 | 127,993,000,000 | ' | ' | ' | ' | ' | 321,564,000,000 | 313,183,000,000 | ' | ' | ' |
Loans and leases receivable deferred costs | $1,900,000,000 | $2,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans_Purchased_Sold_and_Recla
Loans - Purchased, Sold and Reclassified to Held-for-Sale (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Retained Loans Purchases Sales and Transfer Into Held For Sale By Portfolio Segment [Line Items] | ' | ' |
Purchases | $8,641 | $7,428 |
Sales | 9,077 | 5,275 |
Retained loans reclassified to held-for-sale | 7,211 | 1,547 |
Consumer, excluding credit card [Member] | ' | ' |
Retained Loans Purchases Sales and Transfer Into Held For Sale By Portfolio Segment [Line Items] | ' | ' |
Purchases | 7,616 | 6,601 |
Sales | 4,845 | 1,852 |
Retained loans reclassified to held-for-sale | 1,261 | 0 |
Excluded retained loans purchased from correspondents that were originated in accordance with the Firm's underwriting standards | 5,700 | 1,424 |
Credit card [Member] | ' | ' |
Retained Loans Purchases Sales and Transfer Into Held For Sale By Portfolio Segment [Line Items] | ' | ' |
Purchases | 328 | 0 |
Sales | 0 | 0 |
Retained loans reclassified to held-for-sale | 309 | 1,043 |
Wholesale-related [Member] | ' | ' |
Retained Loans Purchases Sales and Transfer Into Held For Sale By Portfolio Segment [Line Items] | ' | ' |
Purchases | 697 | 827 |
Sales | 4,232 | 3,423 |
Retained loans reclassified to held-for-sale | $5,641 | $504 |
Loans_Net_Gains_and_Losses_on_
Loans - Net Gains and Losses on Sale (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net Gains Losses On Loan Sales By Portfolio Segment [Line Items] | ' | ' | ' |
Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) | $240 | $293 | $228 |
Consumer, excluding credit card [Member] | ' | ' | ' |
Net Gains Losses On Loan Sales By Portfolio Segment [Line Items] | ' | ' | ' |
Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) | 313 | 122 | 131 |
Credit card [Member] | ' | ' | ' |
Net Gains Losses On Loan Sales By Portfolio Segment [Line Items] | ' | ' | ' |
Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) | 3 | -9 | -24 |
Wholesale-related [Member] | ' | ' | ' |
Net Gains Losses On Loan Sales By Portfolio Segment [Line Items] | ' | ' | ' |
Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) | ($76) | $180 | $121 |
Loans_Consumer_Excluding_Credi
Loans - Consumer, Excluding Credit Card Loans (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Residential mortgage [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | |||
150plus days past [Member] | Days Past Due, 30 or More [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Prime, including option ARMS [Member] | Prime, including option ARMS [Member] | Prime, including option ARMS [Member] | Prime, including option ARMS [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | ||||||||
150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | ||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total retained loans | $724,177 | $726,835 | $718,997 | ' | ' | ' | $288,449 | $292,620 | $308,427 | $17,113 | $19,385 | $345 | $367 | $40,750 | $48,000 | $224 | $235 | $87,162 | $76,256 | $7,899 | $11,580 | $7,104 | $8,255 | $502 | $855 | $52,757 | $49,913 | $18,951 | $18,883 | $11,557 | $12,191 | $18,927 | $20,971 | $12,038 | $13,674 | $4,175 | $4,626 | $17,915 | $20,466 |
Period past due, credit analysis factors, charge off criteria | ' | ' | ' | '150 days | ' | '30 days | ' | ' | ' | ' | ' | ' | ' | '180 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Low FICO Score | ' | ' | ' | ' | 660 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans_Consumer_Excluding_Credi1
Loans - Consumer, Excluding Credit Card Loans, Residential Real Estate, Excluding PCI Loans (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | |||
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Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | 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Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | 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including option ARMS [Member] | Prime, including option ARMS [Member] | Prime, including option ARMS [Member] | Prime, including option ARMS [Member] | Prime, including option ARMS [Member] | Prime, including option ARMS [Member] | Prime, including option ARMS [Member] | Prime, including option ARMS [Member] | Prime, including option ARMS [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | 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Excluding Purchased Credit-Impaired [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | |||||||
California [Member] | California [Member] | New York [Member] | New York [Member] | Illinois [Member] | Illinois [Member] | Florida [Member] | Florida [Member] | Texas [Member] | Texas [Member] | New Jersey [Member] | New Jersey [Member] | Arizona [Member] | Arizona [Member] | Washington [Member] | Washington [Member] | Michigan [Member] | Michigan [Member] | Ohio [Member] | Ohio [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Days Past Due, 30 to 149 [Member] | Days Past Due, 30 to 149 [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | 150plus days past [Member] | 150plus days past [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | California [Member] | California [Member] | New York [Member] | New York [Member] | Illinois [Member] | Illinois [Member] | Florida [Member] | Florida [Member] | Texas [Member] | Texas [Member] | New Jersey [Member] | New Jersey [Member] | Arizona [Member] | Arizona [Member] | Washington [Member] | Washington [Member] | Michigan [Member] | Michigan [Member] | Ohio [Member] | Ohio [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Days Past Due, 30 to 149 [Member] | Days Past Due, 30 to 149 [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | 150plus days past [Member] | 150plus days past [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV 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30 to 149 [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | 150plus days past [Member] | 150plus days past [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent 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[Member] | Texas [Member] | Texas [Member] | New Jersey [Member] | New Jersey [Member] | Arizona [Member] | Arizona [Member] | Washington [Member] | Washington [Member] | Michigan [Member] | Michigan [Member] | Ohio [Member] | Ohio [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Days Past Due, 30 to 149 [Member] | Days Past Due, 30 to 149 [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | 150plus days past [Member] | 150plus days past [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | California [Member] | California [Member] | New York [Member] | New York [Member] | Illinois [Member] | Illinois [Member] | Florida [Member] | Florida [Member] | Texas [Member] | Texas [Member] | New Jersey [Member] | New Jersey [Member] | Arizona [Member] | Arizona [Member] | Washington [Member] | Washington [Member] | Michigan [Member] | Michigan [Member] | Ohio [Member] | Ohio [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Days Past Due, 30 to 149 [Member] | Days Past Due, 30 to 149 [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | 150plus days past [Member] | 150plus days past [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | |||||||||||||||||
Days Past Due, 90 or More [Member] | Days Past Due, 90 or More [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Days Past Due, 90 or More [Member] | Days Past Due, 90 or More [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Days Past Due, 90 or More [Member] | Days Past Due, 90 or More [Member] | Days Past Due, 30 or More [Member] | Days Past Due, 30 or More [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Days Past Due, 90 or More [Member] | Days Past Due, 90 or More [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Days Past Due, 30 to 149 [Member] | Days Past Due, 30 to 149 [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | 150plus days past [Member] | 150plus days past [Member] | 90 or more days past due and still accruing [Member] | Days Past Due, 90 or More [Member] | Days Past Due, 90 or More [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Days Past Due, 30 to 149 [Member] | 150plus days past [Member] | Days Past Due, 30 to 149 [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total retained loans | $724,177 | $726,835 | $718,997 | $288,449 | $292,620 | $308,427 | $17,113 | $19,385 | $2,397 | $2,786 | $2,732 | $2,847 | $1,248 | $1,358 | $847 | $892 | $2,044 | $2,508 | $630 | $652 | $1,019 | $1,183 | $555 | $651 | $799 | $910 | $1,298 | $1,514 | $3,544 | $4,084 | $298 | $330 | $16,470 | $18,688 | $345 | $367 | $0 | $0 | $932 | $931 | $0 | $0 | $0 | $0 | $40 | $197 | $22 | $93 | $212 | $491 | $107 | $191 | $858 | $1,502 | $326 | $485 | $13,186 | $13,988 | $2,362 | $2,438 | $40,750 | $48,000 | $9,240 | $10,969 | $8,429 | $9,753 | $2,815 | $3,265 | $2,167 | $2,572 | $1,199 | $1,503 | $2,442 | $2,838 | $1,827 | $2,151 | $1,378 | $1,629 | $976 | $1,169 | $907 | $1,091 | $9,370 | $11,060 | $662 | $960 | $39,864 | $46,805 | $224 | $235 | $0 | $0 | $1,876 | $2,277 | $0 | $0 | $0 | $0 | ' | ' | ' | $1,101 | $4,561 | $346 | $1,338 | $4,645 | $7,089 | $1,407 | $1,971 | $7,995 | $9,604 | $2,128 | $2,279 | $19,732 | $18,252 | $3,396 | $2,906 | $87,162 | $76,256 | $21,876 | $17,539 | $14,085 | $11,190 | $5,216 | $3,999 | $4,598 | $4,372 | $3,565 | $2,927 | $2,679 | $2,131 | $1,385 | $1,162 | $1,951 | $1,741 | $998 | $866 | $466 | $405 | $30,343 | $29,924 | $3,155 | $3,237 | $76,108 | $61,439 | $7,899 | $11,580 | $0 | $0 | $2,666 | $3,445 | $13,712 | $15,602 | $7,823 | $10,625 | $9,000 | $11,800 | $1,084 | $2,573 | $303 | $991 | $1,433 | $3,697 | $687 | $1,376 | $4,528 | $7,070 | $1,579 | $2,117 | $58,477 | $38,281 | $5,359 | $4,549 | $7,104 | $8,255 | $1,069 | $1,240 | $942 | $1,081 | $280 | $323 | $885 | $1,031 | $220 | $257 | $339 | $399 | $144 | $165 | $150 | $177 | $178 | $203 | $161 | $191 | $2,736 | $3,188 | $646 | $727 | $5,956 | $6,673 | $502 | $855 | $0 | $0 | $1,390 | $1,807 | $0 | $0 | $0 | $0 | $52 | $236 | $197 | $653 | $249 | $457 | $597 | $985 | $614 | $726 | $1,141 | $1,346 | $1,961 | $1,793 | $2,293 | $2,059 | $152,129 | $151,896 | $34,582 | $32,534 | $26,188 | $24,871 | $9,559 | $8,945 | $8,497 | $8,867 | $7,028 | $7,195 | $6,090 | $6,020 | $4,375 | $4,661 | $4,034 | $4,198 | $2,951 | $3,148 | $2,832 | $3,201 | $45,993 | $48,256 | $4,761 | $5,254 | $138,398 | $133,605 | $8,970 | $13,037 | $0 | $0 | $6,864 | $8,460 | $13,712 | $15,602 | $2,400 | $2,300 | $4,700 | $3,800 | $6,600 | $9,500 | ' | $7,823 | $10,625 | $4,700 | $6,800 | $2,277 | $7,567 | $868 | $3,075 | $6,539 | $11,734 | $2,798 | $4,523 | $13,995 | $18,902 | $5,174 | $6,227 | $93,356 | $72,314 | $13,410 | $11,952 |
% of 30 days past due to total retained loans | ' | ' | ' | ' | ' | ' | 3.76% | 3.60% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.17% | 2.49% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.32% | 3.97% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16.16% | 19.16% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.09% | 4.28% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period past due, credit analysis factors, charge off criteria | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '180 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | '150 days | '149 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Principal Balance Insured and Interest Guaranteed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans_Consumer_Excluding_Credi2
Loans - Consumer, Excluding Credit Card Loans, Delinquency Statistics Junior Lien Home Equity Loans (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | |||
Home Equity Junior Lien, Excluding Lines of Credit [Member] | Home Equity Junior Lien, Excluding Lines of Credit [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | 30-89 days past due [Member] | 30-89 days past due [Member] | 30-89 days past due [Member] | 30-89 days past due [Member] | 90-149 days past due [Member] | 90-149 days past due [Member] | 90-149 days past due [Member] | 90-149 days past due [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | HELOC, Within the revolving period [Member] | HELOC, Within the revolving period [Member] | HELOC, Within the revolving period [Member] | HELOC, Within the revolving period [Member] | HELOC, Within the revolving period [Member] | HELOC, Within the revolving period [Member] | HELOC, Within the revolving period [Member] | HELOC, Within the revolving period [Member] | HELOCs, Beyond the revolving period [Member] | HELOCs, Beyond the revolving period [Member] | HELOCs, Beyond the revolving period [Member] | HELOCs, Beyond the revolving period [Member] | HELOCs, Beyond the revolving period [Member] | HELOCs, Beyond the revolving period [Member] | HELOCs, Beyond the revolving period [Member] | HELOCs, Beyond the revolving period [Member] | |||||||
Home Equity Junior Lien, Excluding Lines of Credit [Member] | Home Equity Junior Lien, Excluding Lines of Credit [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home Equity Junior Lien, Excluding Lines of Credit [Member] | Home Equity Junior Lien, Excluding Lines of Credit [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home Equity Junior Lien, Excluding Lines of Credit [Member] | Home Equity Junior Lien, Excluding Lines of Credit [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home Equity Line of Credit [Member] | Home Equity Line of Credit [Member] | 30-89 days past due [Member] | 30-89 days past due [Member] | 90-149 days past due [Member] | 90-149 days past due [Member] | 150plus days past [Member] | 150plus days past [Member] | Home Equity Line of Credit [Member] | Home Equity Line of Credit [Member] | 30-89 days past due [Member] | 30-89 days past due [Member] | 90-149 days past due [Member] | 90-149 days past due [Member] | 150plus days past [Member] | 150plus days past [Member] | |||||||||||
Home Equity Line of Credit [Member] | Home Equity Line of Credit [Member] | Home Equity Line of Credit [Member] | Home Equity Line of Credit [Member] | Home Equity Line of Credit [Member] | Home Equity Line of Credit [Member] | Home Equity Line of Credit [Member] | Home Equity Line of Credit [Member] | Home Equity Line of Credit [Member] | Home Equity Line of Credit [Member] | Home Equity Line of Credit [Member] | Home Equity Line of Credit [Member] | |||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total retained loans | $724,177 | $726,835 | $718,997 | $288,449 | $292,620 | $308,427 | $3,922 | $5,079 | $40,750 | $48,000 | $86 | $125 | $511 | $687 | $26 | $58 | $151 | $273 | $16 | $23 | $224 | $235 | $31,848 | $40,794 | $341 | $514 | $104 | $196 | $162 | $185 | $4,980 | $2,127 | $84 | $48 | $21 | $19 | $46 | $27 |
% of 30 days past due to total retained loans | ' | ' | ' | ' | ' | ' | 3.26% | 4.06% | 2.17% | 2.49% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.91% | 2.19% | ' | ' | ' | ' | ' | ' | 3.03% | 4.42% | ' | ' | ' | ' | ' | ' |
Home equity line of credit, open-ended revolving period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Home equity line of credit, amortization period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | ' | ' | ' | ' | ' | ' | ' |
Loans_Consumer_Excluding_Credi3
Loans - Consumer, Excluding Credit Card Loans, Impaired Loans (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Consumer, excluding credit card [Member] | Current, and Less Than 90 Days Past Due [Member] | ' | ' | ' |
Impaired loans: | ' | ' | ' |
Period past due, credit analysis factors, charge off criteria | '90 days | ' | ' |
Consumer, excluding credit card [Member] | Minimum [Member] | ' | ' | ' |
Impaired loans: | ' | ' | ' |
Number of payments under modified terms to recognize interest on cash basis | 6 | ' | ' |
Consumer, excluding credit card [Member] | Home equity - senior lien [Member] | ' | ' | ' |
Impaired loans: | ' | ' | ' |
With an allowance | $567,000,000 | $542,000,000 | ' |
Without an allowance | 579,000,000 | 550,000,000 | ' |
Total impaired loans | 1,146,000,000 | 1,092,000,000 | ' |
Allowance for loan losses related to impaired loans | 94,000,000 | 159,000,000 | ' |
Unpaid principal balance of impaired loans | 1,515,000,000 | 1,408,000,000 | ' |
Average impaired loans | 1,151,000,000 | 610,000,000 | 287,000,000 |
Interest income on impaired loans | 59,000,000 | 27,000,000 | 10,000,000 |
Interest income on impaired loans on a cash basis | 40,000,000 | 12,000,000 | 1,000,000 |
Consumer, excluding credit card [Member] | Home equity - senior lien [Member] | Nonaccrual [Member] | ' | ' | ' |
Impaired loans: | ' | ' | ' |
Total impaired loans | 641,000,000 | 607,000,000 | ' |
Consumer, excluding credit card [Member] | Home equity - junior lien [Member] | ' | ' | ' |
Impaired loans: | ' | ' | ' |
With an allowance | 727,000,000 | 677,000,000 | ' |
Without an allowance | 592,000,000 | 546,000,000 | ' |
Total impaired loans | 1,319,000,000 | 1,223,000,000 | ' |
Allowance for loan losses related to impaired loans | 162,000,000 | 188,000,000 | ' |
Unpaid principal balance of impaired loans | 2,625,000,000 | 2,352,000,000 | ' |
Period past due, credit analysis factors, charge off criteria | '180 days | ' | ' |
Average impaired loans | 1,297,000,000 | 848,000,000 | 521,000,000 |
Interest income on impaired loans | 82,000,000 | 42,000,000 | 18,000,000 |
Interest income on impaired loans on a cash basis | 55,000,000 | 16,000,000 | 2,000,000 |
Consumer, excluding credit card [Member] | Home equity - junior lien [Member] | Nonaccrual [Member] | ' | ' | ' |
Impaired loans: | ' | ' | ' |
Total impaired loans | 666,000,000 | 599,000,000 | ' |
Consumer, excluding credit card [Member] | Prime, including option ARMS [Member] | ' | ' | ' |
Impaired loans: | ' | ' | ' |
With an allowance | 5,871,000,000 | 5,810,000,000 | ' |
Without an allowance | 1,133,000,000 | 1,308,000,000 | ' |
Total impaired loans | 7,004,000,000 | 7,118,000,000 | ' |
Allowance for loan losses related to impaired loans | 144,000,000 | 70,000,000 | ' |
Unpaid principal balance of impaired loans | 8,990,000,000 | 9,095,000,000 | ' |
Average impaired loans | 7,214,000,000 | 5,989,000,000 | 3,859,000,000 |
Interest income on impaired loans | 280,000,000 | 238,000,000 | 147,000,000 |
Interest income on impaired loans on a cash basis | 59,000,000 | 28,000,000 | 14,000,000 |
Consumer, excluding credit card [Member] | Prime, including option ARMS [Member] | Nonaccrual [Member] | ' | ' | ' |
Impaired loans: | ' | ' | ' |
Total impaired loans | 1,737,000,000 | 1,888,000,000 | ' |
Consumer, excluding credit card [Member] | Subprime mortgage [Member] | ' | ' | ' |
Impaired loans: | ' | ' | ' |
With an allowance | 2,989,000,000 | 3,071,000,000 | ' |
Without an allowance | 709,000,000 | 741,000,000 | ' |
Total impaired loans | 3,698,000,000 | 3,812,000,000 | ' |
Allowance for loan losses related to impaired loans | 94,000,000 | 174,000,000 | ' |
Unpaid principal balance of impaired loans | 5,461,000,000 | 5,700,000,000 | ' |
Average impaired loans | 3,798,000,000 | 3,494,000,000 | 3,083,000,000 |
Interest income on impaired loans | 200,000,000 | 183,000,000 | 148,000,000 |
Interest income on impaired loans on a cash basis | 55,000,000 | 31,000,000 | 16,000,000 |
Consumer, excluding credit card [Member] | Subprime mortgage [Member] | Nonaccrual [Member] | ' | ' | ' |
Impaired loans: | ' | ' | ' |
Total impaired loans | 1,127,000,000 | 1,308,000,000 | ' |
Consumer, excluding credit card [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | ' | ' | ' |
Impaired loans: | ' | ' | ' |
With an allowance | 10,154,000,000 | 10,100,000,000 | ' |
Without an allowance | 3,013,000,000 | 3,145,000,000 | ' |
Total impaired loans | 13,167,000,000 | 13,245,000,000 | ' |
Allowance for loan losses related to impaired loans | 494,000,000 | 591,000,000 | ' |
Unpaid principal balance of impaired loans | 18,591,000,000 | 18,555,000,000 | ' |
Average impaired loans | 13,460,000,000 | 10,941,000,000 | 7,750,000,000 |
Interest income on impaired loans | 621,000,000 | 490,000,000 | 323,000,000 |
Interest income on impaired loans on a cash basis | 209,000,000 | 87,000,000 | 33,000,000 |
Consumer, excluding credit card [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | Days Past Due, 60 or More, with Notification of Bankruptcy Filing or Other Event [Member] | ' | ' | ' |
Impaired loans: | ' | ' | ' |
Period past due, credit analysis factors, charge off criteria | '90 days | ' | ' |
Consumer, excluding credit card [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | Current, and Less Than 90 Days Past Due [Member] | ' | ' | ' |
Impaired loans: | ' | ' | ' |
TDRs not having yet made six payments | 3,000,000,000 | 2,900,000,000 | ' |
Consumer, excluding credit card [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | Nonaccrual [Member] | ' | ' | ' |
Impaired loans: | ' | ' | ' |
Total impaired loans | 4,171,000,000 | 4,402,000,000 | ' |
Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | ' | ' | ' |
Impaired loans: | ' | ' | ' |
Loans modified subsequent to repurchase from Ginnie Mae | $7,600,000,000 | $7,500,000,000 | ' |
Loans_Consumer_Excluding_Credi4
Loans - Consumer, Excluding Credit Card Loans, Loan Modifications, TDR Activity Rollforward (Details) (Consumer, excluding credit card [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Home equity - senior lien [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Beginning balance of TDRs | $1,092 | $335 | $226 |
New TDRs | 210 | 835 | 138 |
Charge-offs post-modification | -31 | -31 | -15 |
Foreclosures and other liquidations | -18 | -5 | 0 |
Principal payments and other | -107 | -42 | -14 |
Ending balance of TDRs | 1,146 | 1,092 | 335 |
Home equity - junior lien [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Beginning balance of TDRs | 1,223 | 657 | 283 |
New TDRs | 388 | 711 | 518 |
Charge-offs post-modification | -100 | -2 | -78 |
Foreclosures and other liquidations | -24 | -21 | -11 |
Principal payments and other | -168 | -122 | -55 |
Ending balance of TDRs | 1,319 | 1,223 | 657 |
Prime, including option ARMS [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Beginning balance of TDRs | 7,118 | 4,877 | 2,084 |
New TDRs | 770 | 2,918 | 3,268 |
Charge-offs post-modification | -51 | -135 | -119 |
Foreclosures and other liquidations | -145 | -138 | -108 |
Principal payments and other | -688 | -404 | -248 |
Ending balance of TDRs | 7,004 | 7,118 | 4,877 |
Subprime mortgage [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Beginning balance of TDRs | 3,812 | 3,219 | 2,751 |
New TDRs | 319 | 1,043 | 883 |
Charge-offs post-modification | -93 | -208 | -234 |
Foreclosures and other liquidations | -73 | -113 | -82 |
Principal payments and other | -267 | -129 | -99 |
Ending balance of TDRs | 3,698 | 3,812 | 3,219 |
Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Beginning balance of TDRs | 13,245 | 9,088 | 5,344 |
New TDRs | 1,687 | 5,507 | 4,807 |
Charge-offs post-modification | -275 | -376 | -446 |
Foreclosures and other liquidations | -260 | -277 | -201 |
Principal payments and other | -1,230 | -697 | -416 |
Ending balance of TDRs | 13,167 | 13,245 | 9,088 |
Permanent Modification [Member] | Home equity - senior lien [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Ending balance of TDRs | 1,107 | 1,058 | 285 |
Permanent Modification [Member] | Home equity - junior lien [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Ending balance of TDRs | 1,313 | 1,218 | 634 |
Permanent Modification [Member] | Prime, including option ARMS [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Ending balance of TDRs | 6,838 | 6,834 | 4,601 |
Permanent Modification [Member] | Subprime mortgage [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Ending balance of TDRs | 3,596 | 3,661 | 3,029 |
Permanent Modification [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Ending balance of TDRs | 12,854 | 12,771 | 8,549 |
Trial Modification [Member] | Home equity - senior lien [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Ending balance of TDRs | 39 | 34 | 50 |
Trial Modification [Member] | Home equity - junior lien [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Ending balance of TDRs | 6 | 5 | 23 |
Trial Modification [Member] | Prime, including option ARMS [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Ending balance of TDRs | 166 | 284 | 276 |
Trial Modification [Member] | Subprime mortgage [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Ending balance of TDRs | 102 | 151 | 190 |
Trial Modification [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Ending balance of TDRs | $313 | $474 | $539 |
Loans_Consumer_Excluding_Credi5
Loans - Consumer, Excluding Credit Card Loans, Loan Modifications, Nature and Extent of Modifications (Details) (Consumer, excluding credit card [Member]) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Concession granted - Interest rate reduction | 77.00% | 77.00% | 75.00% |
Concession granted - Term of payment extension | 70.00% | 55.00% | 75.00% |
Concession granted - Principal and/or interest deferred | 21.00% | 12.00% | 19.00% |
Concession granted - principal forgiveness | 39.00% | 29.00% | 11.00% |
Concession granted - other | 11.00% | 11.00% | 35.00% |
Percentage, sum of items by type, may exceed | 100.00% | ' | ' |
Home equity - senior lien [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Concession granted - Interest rate reduction | 70.00% | 83.00% | 80.00% |
Concession granted - Term of payment extension | 76.00% | 47.00% | 88.00% |
Concession granted - Principal and/or interest deferred | 12.00% | 6.00% | 10.00% |
Concession granted - principal forgiveness | 38.00% | 11.00% | 7.00% |
Concession granted - other | 0.00% | 0.00% | 29.00% |
Home equity - junior lien [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Concession granted - Interest rate reduction | 88.00% | 88.00% | 95.00% |
Concession granted - Term of payment extension | 80.00% | 76.00% | 81.00% |
Concession granted - Principal and/or interest deferred | 24.00% | 17.00% | 21.00% |
Concession granted - principal forgiveness | 32.00% | 23.00% | 20.00% |
Concession granted - other | 0.00% | 0.00% | 7.00% |
Prime, including option ARMS [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Concession granted - Interest rate reduction | 73.00% | 74.00% | 53.00% |
Concession granted - Term of payment extension | 73.00% | 57.00% | 71.00% |
Concession granted - Principal and/or interest deferred | 30.00% | 16.00% | 17.00% |
Concession granted - principal forgiveness | 38.00% | 29.00% | 2.00% |
Concession granted - other | 23.00% | 29.00% | 68.00% |
Subprime mortgage [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Concession granted - Interest rate reduction | 72.00% | 69.00% | 80.00% |
Concession granted - Term of payment extension | 56.00% | 41.00% | 72.00% |
Concession granted - Principal and/or interest deferred | 13.00% | 7.00% | 19.00% |
Concession granted - principal forgiveness | 48.00% | 42.00% | 13.00% |
Concession granted - other | 14.00% | 8.00% | 26.00% |
Regulatory Guidance Regarding Chapter 7 Loans [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of loans | 36,700 | ' | ' |
Regulatory Guidance Regarding Chapter 7 Loans [Member] | Home equity - senior lien [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of loans | 8,800 | ' | ' |
Regulatory Guidance Regarding Chapter 7 Loans [Member] | Home equity - junior lien [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of loans | 21,700 | ' | ' |
Regulatory Guidance Regarding Chapter 7 Loans [Member] | Prime, including option ARMS [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of loans | 3,100 | ' | ' |
Regulatory Guidance Regarding Chapter 7 Loans [Member] | Subprime mortgage [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of loans | 3,100 | ' | ' |
Trial Modification [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of contract modifications | 9,682 | 11,349 | 13,649 |
Trial Modification [Member] | Home equity - senior lien [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of contract modifications | 1,719 | 1,695 | 1,219 |
Trial Modification [Member] | Home equity - junior lien [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of contract modifications | 884 | 918 | 1,308 |
Trial Modification [Member] | Prime, including option ARMS [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of contract modifications | 2,846 | 3,895 | 4,676 |
Trial Modification [Member] | Subprime mortgage [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of contract modifications | 4,233 | 4,841 | 6,446 |
Permanent Modification [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of contract modifications | 16,525 | 30,822 | 24,699 |
Permanent Modification [Member] | Home equity - senior lien [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of contract modifications | 1,765 | 4,385 | 1,006 |
Permanent Modification [Member] | Home equity - junior lien [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of contract modifications | 5,040 | 7,430 | 9,142 |
Permanent Modification [Member] | Prime, including option ARMS [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of contract modifications | 4,356 | 9,043 | 9,579 |
Permanent Modification [Member] | Subprime mortgage [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of contract modifications | 5,364 | 9,964 | 4,972 |
Loans_Consumer_Excluding_Credi6
Loans - Consumer, Excluding Credit Card Loans, Financial Effects of Modifications and Redefaults (Details) (USD $) | 12 Months Ended | 12 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 |
Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Permanent Modification [Member] | Permanent Modification [Member] | Permanent Modification [Member] | Permanent Modification [Member] | Permanent Modification [Member] | Permanent Modification [Member] | Permanent Modification [Member] | Permanent Modification [Member] | Permanent Modification [Member] | Permanent Modification [Member] | Permanent Modification [Member] | Permanent Modification [Member] | Permanent Modification [Member] | Permanent Modification [Member] | Permanent Modification [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Trial Modifications Approved On Or After July 1, 2010 [Member] | Regulatory Guidance Regarding Chapter 7 Loans [Member] | Regulatory Guidance Regarding Chapter 7 Loans [Member] | Regulatory Guidance Regarding Chapter 7 Loans [Member] | Regulatory Guidance Regarding Chapter 7 Loans [Member] | Regulatory Guidance Regarding Chapter 7 Loans [Member] | Regulatory Guidance Regarding Chapter 7 Loans [Member] | Days Past Due, 60 or Less [Member] | Days Past Due, 30 or More [Member] | |
Home equity - junior lien [Member] | Business banking [Member] | Business banking [Member] | Business banking [Member] | Residential mortgage [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Permanent Modification [Member] | Permanent Modification [Member] | Permanent Modification [Member] | Permanent Modification [Member] | Maximum [Member] | Minimum [Member] | Regulatory Guidance Regarding Chapter 7 Loans [Member] | Regulatory Guidance Regarding Chapter 7 Loans [Member] | |
loan_payment | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Prime, including option ARMS [Member] | Prime, including option ARMS [Member] | Prime, including option ARMS [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | Business banking [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Maximum [Member] | Maximum [Member] | ||||||
loans | loans | loans | loans | loans | loans | loans | loans | loans | loans | loans | loans | loans | loans | loans | Home equity - senior lien [Member] | Home equity - junior lien [Member] | Prime, including option ARMS [Member] | Subprime mortgage [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | Consumer, excluding credit card [Member] | ||||||||||
Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | ||||||||||||||||||||||||||||||||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of years before payment default under a modified loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average interest rate of loans with interest rate reductions – before TDR | ' | 8.37% | 7.33% | 7.55% | ' | 6.35% | 7.20% | 7.25% | 5.05% | 5.45% | 5.46% | 5.28% | 6.14% | 5.98% | 7.33% | 7.73% | 8.25% | 5.88% | 6.57% | 6.44% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average interest rate of loans with interest rate reductions – after TDR | ' | 6.05% | 5.49% | 5.52% | ' | 3.23% | 4.61% | 3.51% | 2.14% | 1.94% | 1.49% | 2.77% | 3.67% | 3.34% | 3.52% | 4.14% | 3.46% | 2.92% | 3.69% | 3.09% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | ' | ' | ' | ' | ' | '19 years | '18 years | '18 years | '20 years | '20 years | '21 years | '25 years | '25 years | '25 years | '24 years | '24 years | '23 years | '23 years | '24 years | '24 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | ' | ' | ' | ' | ' | '31 years | '28 years | '30 years | '34 years | '32 years | '34 years | '37 years | '36 years | '35 years | '35 years | '32 years | '34 years | '36 years | '34 years | '35 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Charge-offs recognized upon permanent modification | ' | ' | ' | ' | ' | $7 | $8 | $1 | $70 | $65 | $117 | $16 | $35 | $61 | $5 | $29 | $19 | $98 | $137 | $198 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal deferred | ' | ' | ' | ' | ' | 7 | 4 | 4 | 24 | 23 | 35 | 129 | 133 | 167 | 43 | 43 | 61 | 203 | 203 | 267 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal forgiven | ' | ' | ' | ' | ' | 30 | 20 | 1 | 51 | 58 | 62 | 206 | 249 | 20 | 218 | 324 | 46 | 505 | 651 | 129 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of loans that redefaulted within one year of permanent modification(a) | ' | ' | ' | ' | ' | 404 | 374 | 222 | 1,069 | 1,436 | 1,310 | 673 | 920 | 1,142 | 1,072 | 1,426 | 1,989 | 3,218 | 4,156 | 4,663 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance of loans that redefaulted within one year of permanent modification(a) | ' | $43 | $42 | $80 | ' | $26 | $30 | $18 | $20 | $46 | $52 | $164 | $255 | $340 | $106 | $156 | $281 | $316 | $487 | $691 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of payments past due for deemed payment | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of months before a payment redefault under modified loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trial modifications, successfully converted to permanent modifications | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Rate of default for modified loans, estimated weighted average | 20.00% | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | 15.00% | ' | ' | 26.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | 11.00% | 33.00% | 23.00% | 40.00% | 10.00% | ' | ' |
Period past due, credit analysis factors, charge off criteria | '180 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '60 days | '30 days |
Modifications, weighted-average remaining life | ' | ' | ' | ' | ' | '6 years | ' | ' | '7 years | ' | ' | '10 years | ' | ' | '8 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans_Consumer_Excluding_Credi7
Loans - Consumer, Excluding Credit Card Loans, Other Consumer Loans (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Millions, unless otherwise specified | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | Days Past Due, 30 to 119 [Member] | Days Past Due, 30 to 119 [Member] | Days Past Due, 30 to 119 [Member] | Days Past Due, 30 to 119 [Member] | Days Past Due, 30 to 119 [Member] | Days Past Due, 30 to 119 [Member] | Days Past Due, 30 to 119 [Member] | Days Past Due, 30 to 119 [Member] | Days Past Due, 120 or More [Member] | Days Past Due, 120 or More [Member] | Days Past Due, 120 or More [Member] | Days Past Due, 120 or More [Member] | Days Past Due, 120 or More [Member] | Days Past Due, 120 or More [Member] | Days Past Due, 120 or More [Member] | Days Past Due, 120 or More [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Noncriticized [Member] | Noncriticized [Member] | Noncriticized [Member] | Noncriticized [Member] | Noncriticized [Member] | Noncriticized [Member] | Criticized Performing [Member] | Criticized Performing [Member] | Criticized Performing [Member] | Criticized Performing [Member] | Criticized Performing [Member] | Criticized Performing [Member] | Criticized Nonaccrual [Member] | Criticized Nonaccrual [Member] | Criticized Nonaccrual [Member] | Criticized Nonaccrual [Member] | Criticized Nonaccrual [Member] | Criticized Nonaccrual [Member] | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies [Member] | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies [Member] | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies [Member] | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies [Member] | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies [Member] | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies [Member] | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies [Member] | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies [Member] | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies [Member] | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies [Member] | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies [Member] | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies [Member] | |||
Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Other Consumer [Member] | Other Consumer [Member] | California [Member] | California [Member] | California [Member] | California [Member] | California [Member] | California [Member] | California [Member] | California [Member] | New York [Member] | New York [Member] | New York [Member] | New York [Member] | New York [Member] | New York [Member] | New York [Member] | New York [Member] | Illinois [Member] | Illinois [Member] | Illinois [Member] | Illinois [Member] | Illinois [Member] | Illinois [Member] | Illinois [Member] | Illinois [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Texas [Member] | Texas [Member] | Texas [Member] | Texas [Member] | Texas [Member] | Texas [Member] | Texas [Member] | Texas [Member] | New Jersey [Member] | New Jersey [Member] | New Jersey [Member] | New Jersey [Member] | New Jersey [Member] | New Jersey [Member] | New Jersey [Member] | New Jersey [Member] | Arizona [Member] | Arizona [Member] | Arizona [Member] | Arizona [Member] | Arizona [Member] | Arizona [Member] | Arizona [Member] | Arizona [Member] | Washington [Member] | Washington [Member] | Washington [Member] | Washington [Member] | Washington [Member] | Washington [Member] | Washington [Member] | Washington [Member] | Michigan [Member] | Michigan [Member] | Michigan [Member] | Michigan [Member] | Michigan [Member] | Michigan [Member] | Michigan [Member] | Michigan [Member] | Ohio [Member] | Ohio [Member] | Ohio [Member] | Ohio [Member] | Ohio [Member] | Ohio [Member] | Ohio [Member] | Ohio [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | Days Past Due, 30 to 119 [Member] | Days Past Due, 30 to 119 [Member] | Days Past Due, 120 or More [Member] | Days Past Due, 120 or More [Member] | Days Past Due, 30 or More, and Still Accruing [Member] | Days Past Due, 30 or More, and Still Accruing [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | |||||||
Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Other Consumer [Member] | Other Consumer [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Other Consumer [Member] | Other Consumer [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Other Consumer [Member] | Other Consumer [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Other Consumer [Member] | Other Consumer [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Other Consumer [Member] | Other Consumer [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Other Consumer [Member] | Other Consumer [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Other Consumer [Member] | Other Consumer [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Other Consumer [Member] | Other Consumer [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Other Consumer [Member] | Other Consumer [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Other Consumer [Member] | Other Consumer [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Other Consumer [Member] | Other Consumer [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Other Consumer [Member] | Other Consumer [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Other Consumer [Member] | Other Consumer [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Other Consumer [Member] | Other Consumer [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Other Consumer [Member] | Other Consumer [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Other Consumer [Member] | Other Consumer [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Other Consumer [Member] | Other Consumer [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Other Consumer [Member] | Other Consumer [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Other Consumer [Member] | Other Consumer [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Days Past Due, 30 to 119 [Member] | Days Past Due, 120 or More [Member] | Days Past Due, 30 or More, and Still Accruing [Member] | Days Past Due, 30 to 119 [Member] | |||||||||||||||
Other Consumer [Member] | Other Consumer [Member] | Other Consumer [Member] | Other Consumer [Member] | Other Consumer [Member] | Other Consumer [Member] | Student and other [Member] | Student and other [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Consumer [Member] | Other Consumer [Member] | Other Consumer [Member] | Other Consumer [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total retained loans | $724,177 | $726,835 | $718,997 | $288,449 | $292,620 | $308,427 | $52,757 | $49,913 | $18,951 | $18,883 | $11,557 | $12,191 | $83,265 | $80,987 | $5,615 | $4,962 | $2,374 | $1,983 | $1,112 | $1,108 | $9,101 | $8,053 | $3,898 | $3,742 | $3,084 | $2,981 | $1,218 | $1,202 | $8,200 | $7,925 | $2,917 | $2,738 | $1,341 | $1,404 | $740 | $748 | $4,998 | $4,890 | $2,012 | $1,922 | $646 | $527 | $539 | $556 | $3,197 | $3,005 | $5,310 | $4,739 | $2,646 | $2,749 | $878 | $891 | $8,834 | $8,379 | $2,014 | $1,921 | $392 | $379 | $397 | $409 | $2,803 | $2,709 | $1,855 | $1,719 | $1,046 | $1,139 | $252 | $265 | $3,153 | $3,123 | $950 | $824 | $234 | $202 | $227 | $287 | $1,411 | $1,313 | $1,902 | $2,091 | $1,383 | $1,368 | $513 | $548 | $3,798 | $4,007 | $2,229 | $2,462 | $1,316 | $1,443 | $708 | $770 | $4,253 | $4,675 | $24,055 | $22,793 | $4,489 | $4,708 | $4,973 | $5,407 | $33,517 | $32,908 | $52,152 | $49,290 | $18,511 | $18,482 | $10,529 | $11,038 | $81,192 | $78,810 | $599 | $616 | $280 | $263 | $660 | $709 | $1,539 | $1,588 | $6 | $7 | $160 | $138 | $368 | $444 | $534 | $589 | $0 | $0 | $0 | $0 | $428 | $525 | $428 | $525 | $161 | $163 | $385 | $481 | $86 | $70 | $632 | $714 | $9,968 | $8,882 | $13,622 | $13,336 | $23,590 | $22,218 | $54 | $130 | $711 | $713 | $765 | $843 | $38 | $4 | $316 | $386 | $354 | $390 | $4,900 | $5,400 | $387 | $466 | $350 | $428 | $737 | $894 | ' | ' | ' | ' |
Loans, charge-off criteria, period pas due | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | '120 days | '30 days | '119 days |
% of 30 days past due to total retained loans | ' | ' | ' | ' | ' | ' | 1.15% | 1.25% | 2.32% | 2.12% | 2.52% | 2.12% | 1.60% | 1.58% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans_Consumer_Excluding_Credi8
Loans - Consumer, Excluding Credit Card Loans, Other Consumer Impaired Loans and Loan Modifications (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Auto [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Average impaired loans | ' | ' | $92 |
Business banking [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Average impaired loans | ' | ' | 760 |
Other Consumer [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Average impaired loans | ' | ' | 852 |
Consumer, excluding credit card [Member] | Auto [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
With an allowance | 96 | 78 | ' |
Without an allowance | 47 | 72 | ' |
Total impaired loans | 143 | 150 | ' |
Allowance for loan losses related to impaired loans | 13 | 12 | ' |
Unpaid principal balance of impaired loans | 235 | 259 | ' |
Average impaired loans | 132 | 111 | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Beginning balance of TDRs | 150 | 88 | 91 |
New TDRs | 90 | 145 | 54 |
Charge-offs post-modification | -10 | -9 | -5 |
Foreclosures and other liquidations | 0 | 0 | 0 |
Principal payments and other | -123 | -74 | -52 |
Ending balance of TDRs | 107 | 150 | 88 |
Consumer, excluding credit card [Member] | Business banking [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
With an allowance | 475 | 543 | ' |
Without an allowance | 0 | 0 | ' |
Total impaired loans | 475 | 543 | ' |
Allowance for loan losses related to impaired loans | 94 | 126 | ' |
Unpaid principal balance of impaired loans | 553 | 624 | ' |
Average impaired loans | 516 | 622 | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Beginning balance of TDRs | 352 | 415 | 395 |
New TDRs | 66 | 104 | 195 |
Charge-offs post-modification | -10 | -9 | -11 |
Foreclosures and other liquidations | 0 | -1 | -3 |
Principal payments and other | -137 | -157 | -161 |
Ending balance of TDRs | 271 | 352 | 415 |
Consumer, excluding credit card [Member] | Other Consumer [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
With an allowance | 571 | 621 | ' |
Without an allowance | 47 | 72 | ' |
Total impaired loans | 618 | 693 | ' |
Allowance for loan losses related to impaired loans | 107 | 138 | ' |
Unpaid principal balance of impaired loans | 788 | 883 | ' |
Average impaired loans | 648 | 733 | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Beginning balance of TDRs | 502 | 503 | 486 |
New TDRs | 156 | 249 | 249 |
Charge-offs post-modification | -20 | -18 | -16 |
Foreclosures and other liquidations | 0 | -1 | -3 |
Principal payments and other | -260 | -231 | -213 |
Ending balance of TDRs | 378 | 502 | 503 |
Nonaccrual [Member] | Consumer, excluding credit card [Member] | Auto [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Total impaired loans | 113 | 109 | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Ending balance of TDRs | 77 | 109 | ' |
Nonaccrual [Member] | Consumer, excluding credit card [Member] | Business banking [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Total impaired loans | 328 | 394 | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Ending balance of TDRs | 124 | 203 | ' |
Nonaccrual [Member] | Consumer, excluding credit card [Member] | Other Consumer [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Total impaired loans | 441 | 503 | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Ending balance of TDRs | $201 | $312 | ' |
Loans_Consumer_Excluding_Credi9
Loans - Consumer, Excluding Credit Card Loans, Financial Effects of Modification (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Maximum [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of years before payment default under a modified loan | '1 year | ' | ' |
Consumer, excluding credit card [Member] | Business banking [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Modifications, subsequent default, recorded investment | $43 | $42 | $80 |
Weighted-average interest rate of loans with interest rate reductions – before TDR | 8.37% | 7.33% | 7.55% |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 6.05% | 5.49% | 5.52% |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | '1 year 1 month 6 days | '1 year 4 months 24 days | '1 year 4 months 24 days |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | '3 years 1 month 6 days | '2 years 4 months 24 days | '2 years 7 months 6 days |
Consumer, excluding credit card [Member] | Auto [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Modifications, subsequent default, recorded investment | $54 | $46 | ' |
Weighted-average interest rate of loans with interest rate reductions – before TDR | 13.66% | 12.64% | 12.45% |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 4.94% | 4.83% | 5.70% |
Consumer, excluding credit card [Member] | Scored Auto and Business Banking Loans [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of payments past due for deemed payment | 2 | ' | ' |
Consumer, excluding credit card [Member] | Maximum [Member] | Business banking [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of years before payment default under a modified loan | '1 year | ' | ' |
Consumer, excluding credit card [Member] | Maximum [Member] | Auto [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of years before payment default under a modified loan | '1 year | ' | ' |
Recovered_Sheet6
Loans - Consumer, Excluding Credit Card Loans, PCI Loans (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Purchased Credit-Impaired [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | |||
Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | California [Member] | California [Member] | California [Member] | California [Member] | California [Member] | California [Member] | California [Member] | California [Member] | California [Member] | California [Member] | New York [Member] | New York [Member] | New York [Member] | New York [Member] | New York [Member] | New York [Member] | New York [Member] | New York [Member] | New York [Member] | New York [Member] | Illinois [Member] | Illinois [Member] | Illinois [Member] | Illinois [Member] | Illinois [Member] | Illinois [Member] | Illinois [Member] | Illinois [Member] | Illinois [Member] | Illinois [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Texas [Member] | Texas [Member] | Texas [Member] | Texas [Member] | Texas [Member] | Texas [Member] | Texas [Member] | Texas [Member] | Texas [Member] | Texas [Member] | New Jersey [Member] | New Jersey [Member] | New Jersey [Member] | New Jersey [Member] | New Jersey [Member] | New Jersey [Member] | New Jersey [Member] | New Jersey [Member] | New Jersey [Member] | New Jersey [Member] | Arizona [Member] | Arizona [Member] | Arizona [Member] | Arizona [Member] | Arizona [Member] | Arizona [Member] | Arizona [Member] | Arizona [Member] | Arizona [Member] | Arizona [Member] | Washington [Member] | Washington [Member] | Washington [Member] | Washington [Member] | Washington [Member] | Washington [Member] | Washington [Member] | Washington [Member] | Washington [Member] | Washington [Member] | Michigan [Member] | Michigan [Member] | Michigan [Member] | Michigan [Member] | Michigan [Member] | Michigan [Member] | Michigan [Member] | Michigan [Member] | Michigan [Member] | Michigan [Member] | Ohio [Member] | Ohio [Member] | Ohio [Member] | Ohio [Member] | Ohio [Member] | Ohio [Member] | Ohio [Member] | Ohio [Member] | Ohio [Member] | Ohio [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | Days Past Due, 30 to 149 [Member] | Days Past Due, 30 to 149 [Member] | Days Past Due, 30 to 149 [Member] | Days Past Due, 30 to 149 [Member] | Days Past Due, 30 to 149 [Member] | Days Past Due, 30 to 149 [Member] | Days Past Due, 30 to 149 [Member] | Days Past Due, 30 to 149 [Member] | Days Past Due, 30 to 149 [Member] | Days Past Due, 30 to 149 [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Equal to or Greater than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | Refreshed FICO Scores Less than 660 [Member] | ||||||||
Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Greater than 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 101 and 125 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Between 80 and 100 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | Current Estimated LTV Ratio Less than 80 Percent [Member] | ||||||||||||||||||
Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Home Equity [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Prime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Subprime Mortgage [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired, Option ARMs [Member] | Purchased Credit-Impaired [Member] | Purchased Credit-Impaired [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average life of the portfolio over which net spread will be earned on a declining loan balance | ' | ' | ' | '8 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total retained loans | $724,177 | $726,835 | $718,997 | ' | $288,449 | $292,620 | $308,427 | $18,927 | $20,971 | $12,038 | $13,674 | $4,175 | $4,626 | $17,915 | $20,466 | $53,055 | $59,737 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related allowance for loan losses | ' | ' | ' | ' | ' | ' | ' | 1,758 | 1,908 | 1,726 | 1,929 | 180 | 380 | 494 | 1,494 | 4,158 | 5,711 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total loans | ' | ' | ' | ' | ' | ' | ' | $19,830 | $22,343 | $11,876 | $13,884 | $5,471 | $6,326 | $19,223 | $22,591 | $56,400 | $65,144 | $11,937 | $13,493 | $6,845 | $7,877 | $1,293 | $1,444 | $10,419 | $11,889 | $30,494 | $34,703 | $962 | $1,067 | $807 | $927 | $563 | $649 | $1,196 | $1,404 | $3,528 | $4,047 | $451 | $502 | $353 | $433 | $283 | $338 | $481 | $587 | $1,568 | $1,860 | $1,865 | $2,054 | $826 | $1,023 | $526 | $651 | $1,817 | $2,480 | $5,034 | $6,208 | $327 | $385 | $106 | $148 | $328 | $368 | $100 | $118 | $861 | $1,019 | $381 | $423 | $334 | $401 | $213 | $260 | $701 | $854 | $1,629 | $1,938 | $361 | $408 | $187 | $215 | $95 | $105 | $264 | $305 | $907 | $1,033 | $1,072 | $1,215 | $266 | $328 | $112 | $142 | $463 | $563 | $1,913 | $2,248 | $62 | $70 | $189 | $211 | $145 | $163 | $206 | $235 | $602 | $679 | $23 | $27 | $55 | $71 | $84 | $100 | $75 | $89 | $237 | $287 | $2,389 | $2,699 | $1,908 | $2,250 | $1,829 | $2,106 | $3,501 | $4,067 | $9,627 | $11,122 | $18,135 | $20,331 | $10,118 | $11,078 | $4,012 | $4,198 | $15,501 | $16,415 | $47,766 | $52,022 | $583 | $803 | $589 | $740 | $662 | $698 | $1,006 | $1,314 | $2,840 | $3,555 | $1,112 | $1,209 | $1,169 | $2,066 | $797 | $1,430 | $2,716 | $4,862 | $5,794 | $9,567 | $1,168 | $4,508 | $240 | $1,478 | $115 | $375 | $301 | $1,597 | $1,824 | $7,958 | $3,248 | $4,966 | $1,017 | $2,968 | $316 | $434 | $1,164 | $3,281 | $5,745 | $11,649 | $4,473 | $3,531 | $2,787 | $1,872 | $544 | $416 | $3,311 | $3,794 | $11,115 | $9,613 | $5,077 | $2,524 | $2,897 | $1,356 | $521 | $255 | $5,671 | $2,624 | $14,166 | $6,759 | $662 | $2,344 | $290 | $1,449 | $459 | $1,300 | $575 | $2,729 | $1,986 | $7,822 | $1,541 | $2,098 | $884 | $1,983 | $919 | $1,256 | $1,563 | $3,200 | $4,907 | $8,537 | $1,782 | $1,305 | $1,699 | $1,378 | $1,197 | $1,182 | $2,769 | $2,974 | $7,447 | $6,839 | $1,879 | $1,067 | $2,062 | $1,400 | $1,400 | $1,108 | $3,869 | $2,392 | $9,210 | $5,967 |
% of 30 days past due to total loans | ' | ' | ' | ' | ' | ' | ' | 8.55% | 9.01% | 14.80% | 20.21% | 26.67% | 33.64% | 19.36% | 27.34% | 15.31% | 20.14% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recovered_Sheet7
Loans - Consumer, Excluding Credit Card Loans, PCI Delinquency Statistics (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | Consumer, excluding credit card [Member] | |||
Purchased Credit-Impaired, Home Equity Senior Lien [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Excluding Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Excluding Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien [Member] | Purchased Credit-Impaired, Home Equity Junior Lien [Member] | HELOC, Within the revolving period [Member] | HELOC, Within the revolving period [Member] | HELOCs, Beyond the revolving period [Member] | HELOCs, Beyond the revolving period [Member] | 30-89 days past due [Member] | 30-89 days past due [Member] | 30-89 days past due [Member] | 30-89 days past due [Member] | 30-89 days past due [Member] | 30-89 days past due [Member] | 30-89 days past due [Member] | 30-89 days past due [Member] | 90-149 days past due [Member] | 90-149 days past due [Member] | 90-149 days past due [Member] | 90-149 days past due [Member] | 90-149 days past due [Member] | 90-149 days past due [Member] | 90-149 days past due [Member] | 90-149 days past due [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | 150plus days past [Member] | |||||||
Purchased Credit-Impaired, Home Equity Junior Lien, Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Excluding Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Excluding Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien [Member] | Purchased Credit-Impaired, Home Equity Junior Lien [Member] | HELOC, Within the revolving period [Member] | HELOC, Within the revolving period [Member] | HELOCs, Beyond the revolving period [Member] | HELOCs, Beyond the revolving period [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Excluding Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Excluding Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien [Member] | Purchased Credit-Impaired, Home Equity Junior Lien [Member] | HELOC, Within the revolving period [Member] | HELOC, Within the revolving period [Member] | HELOCs, Beyond the revolving period [Member] | HELOCs, Beyond the revolving period [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Excluding Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Excluding Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien [Member] | Purchased Credit-Impaired, Home Equity Junior Lien [Member] | HELOC, Within the revolving period [Member] | HELOC, Within the revolving period [Member] | HELOCs, Beyond the revolving period [Member] | HELOCs, Beyond the revolving period [Member] | ||||||||||||
Purchased Credit-Impaired, Home Equity Junior Lien, Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Lines of Credit [Member] | Purchased Credit-Impaired, Home Equity Junior Lien, Lines of Credit [Member] | ||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of senior liens to total financing receivables | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total retained loans | $724,177 | $726,835 | $718,997 | $288,449 | $292,620 | $308,427 | ' | $908 | $1,085 | $15,914 | $17,666 | $12,670 | $15,915 | $2,336 | $666 | $24 | $37 | $321 | $428 | $243 | $361 | $54 | $30 | $11 | $18 | $120 | $206 | $88 | $175 | $21 | $13 | $39 | $44 | $647 | $655 | $526 | $591 | $82 | $20 |
Total 30 plus day delinquency rate | ' | ' | ' | ' | ' | ' | ' | 8.15% | 9.12% | 6.84% | 7.30% | 6.76% | 7.08% | 6.72% | 9.46% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Home equity line of credit, open-ended revolving period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recovered_Sheet8
Loans - Consumer, Excluding Credit Card Loans, PCI Accretable Yield Activity (Details) (Consumer, excluding credit card [Member], Purchased Credit-Impaired [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Consumer, excluding credit card [Member] | Purchased Credit-Impaired [Member] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ' | ' | ' |
Beginning balance | $18,457 | $19,072 | $19,097 |
Accretion into interest income | -2,201 | -2,491 | -2,767 |
Changes in interest rates on variable-rate loans | -287 | -449 | -573 |
Other changes in expected cash flows | 198 | 2,325 | 3,315 |
Balance at December 31 | $16,167 | $18,457 | $19,072 |
Accretable yield percentage | 4.31% | 4.38% | 4.33% |
Loans_Loans_Credit_Card_Loan_P
Loans Loans - Credit Card Loan Portfolio (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | |||
Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | Consumer Credit Card Financing Receivable [Member] | |||||||||
California [Member] | California [Member] | New York [Member] | New York [Member] | Texas [Member] | Texas [Member] | Illinois [Member] | Illinois [Member] | Florida [Member] | Florida [Member] | New Jersey [Member] | New Jersey [Member] | Ohio [Member] | Ohio [Member] | Pennsylvania [Member] | Pennsylvania [Member] | Michigan [Member] | Michigan [Member] | Virginia [Member] | Virginia [Member] | Other Geographical Areas [Member] | Other Geographical Areas [Member] | Days Past Due, 30 or More [Member] | Days Past Due, 90 or More [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | 30–89 days past due and still accruing [Member] | 30–89 days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | Nonaccrual [Member] | Nonaccrual [Member] | |||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans, charge-off criteria, period pas due | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | '90 days | ' | ' | ' | ' | ' | ' | ' | ' |
Net charge-offs/(recoveries) | ' | ' | ' | $3,879 | $4,944 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
% of net charge-offs/(recoveries) to end-of-period retained loans | ' | ' | ' | 3.14% | 3.95% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total retained loans | $724,177 | $726,835 | $718,997 | ' | ' | $127,465 | $127,993 | $132,175 | $127,465 | $127,993 | $17,194 | $17,115 | $10,497 | $10,379 | $10,400 | $10,209 | $7,412 | $7,399 | $7,178 | $7,231 | $5,554 | $5,503 | $4,881 | $4,956 | $4,462 | $4,549 | $3,618 | $3,745 | $3,239 | $3,193 | $53,030 | $53,714 | ' | ' | $125,335 | $125,309 | $1,108 | $1,381 | $1,022 | $1,302 | $0 | $1 |
% of 30 days past due to total retained loans | ' | ' | ' | ' | ' | ' | ' | ' | 1.67% | 2.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
% of 90 days past due to total retained loans | ' | ' | ' | ' | ' | ' | ' | ' | 0.80% | 1.02% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Loans with FICO Scores of 660 Or Greater to Total Retained Loans | ' | ' | ' | ' | ' | ' | ' | ' | 85.10% | 84.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Loans with FICO Scores Less than 660 to Total Retained Loans | ' | ' | ' | ' | ' | ' | ' | ' | 14.90% | 15.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans_Loans_Credit_Card_Portfo
Loans Loans - Credit Card Portfolio - Impaired Loans (Details) (Consumer Credit Card Financing Receivable [Member], USD $) | 12 Months Ended | ||||||
In Millions, unless otherwise specified | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | Credit card [Member] | ||
Noncompliance with Modified Terms [Member] | Noncompliance with Modified Terms [Member] | Completion of Short Term Modification [Member] | Completion of Short Term Modification [Member] | ||||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Loans with modified payment terms | ' | $2,746 | $4,189 | ' | ' | ' | ' |
Modified credit card loans that have reverted to pre-modification payment terms | ' | 369 | 573 | 226 | 341 | 143 | 232 |
Total impaired loans | ' | 3,115 | 4,762 | ' | ' | ' | ' |
Allowance for loan losses related to impaired loans | ' | 971 | 1,681 | ' | ' | ' | ' |
Average impaired loans | 8,499 | 3,882 | 5,893 | ' | ' | ' | ' |
Interest income on impaired loans | $463 | $198 | $308 | ' | ' | ' | ' |
Loans_Loans_Credit_Card_Portfo1
Loans Loans - Credit Card Portfolio - Loan Modifications (Details) (Credit card [Member], Consumer Credit Card Financing Receivable [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
loan_payment | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Weighted-average interest rate of loans – before TDR | 15.37% | 15.67% | 16.05% |
Weighted-average interest rate of loans – after TDR | 4.38% | 5.19% | 5.28% |
Modifications, subsequent default, recorded investment | $167 | $309 | $687 |
Number of payments past due for deemed payment | 2 | ' | ' |
Rate of default for modified loans, estimated weighted average | 30.72% | 38.23% | 35.47% |
Short-term programs [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
New TDRs | 0 | 47 | 167 |
Long-term programs [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Loan Modification Program, Fixed Payment Plan Period | '60 months | ' | ' |
New TDRs | 1,180 | 1,607 | 2,523 |
Total new enrollments [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
New TDRs | $1,180 | $1,654 | $2,690 |
Maximum [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Number of years before payment default under a modified loan | '1 year | ' | ' |
Loans_Wholesale_Loan_Portfolio
Loans - Wholesale Loan Portfolio - By Class of Receivable (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Real estate [Member] | Real estate [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Commercial loan [Member] | Commercial loan [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | |||
Noninvestment Grade [Member] | Noninvestment Grade [Member] | Noninvestment Grade [Member] | Noninvestment Grade [Member] | Noninvestment Grade [Member] | Noninvestment Grade [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Real estate [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Government Agencies [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | Commercial loan [Member] | |||||||||||||||||||
Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | 30–89 days past due and still accruing [Member] | 30–89 days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Non-U.S. [Member] | Non-U.S. [Member] | U.S. [Member] | U.S. [Member] | Investment Grade [Member] | Investment Grade [Member] | Noncriticized [Member] | Noncriticized [Member] | Criticized Performing [Member] | Criticized Performing [Member] | Criticized Nonaccrual [Member] | Criticized Nonaccrual [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | 30–89 days past due and still accruing [Member] | 30–89 days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Non-U.S. [Member] | Non-U.S. [Member] | U.S. [Member] | U.S. [Member] | Investment Grade [Member] | Investment Grade [Member] | Noncriticized [Member] | Noncriticized [Member] | Criticized Performing [Member] | Criticized Performing [Member] | Criticized Nonaccrual [Member] | Criticized Nonaccrual [Member] | Noninvestment Grade [Member] | Noninvestment Grade [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | 30–89 days past due and still accruing [Member] | 30–89 days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Non-U.S. [Member] | Non-U.S. [Member] | U.S. [Member] | U.S. [Member] | Investment Grade [Member] | Investment Grade [Member] | Noncriticized [Member] | Noncriticized [Member] | Criticized Performing [Member] | Criticized Performing [Member] | Criticized Nonaccrual [Member] | Criticized Nonaccrual [Member] | Noninvestment Grade [Member] | Noninvestment Grade [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | 30–89 days past due and still accruing [Member] | 30–89 days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Non-U.S. [Member] | Non-U.S. [Member] | U.S. [Member] | U.S. [Member] | Investment Grade [Member] | Investment Grade [Member] | Noncriticized [Member] | Noncriticized [Member] | Criticized Performing [Member] | Criticized Performing [Member] | Criticized Nonaccrual [Member] | Criticized Nonaccrual [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | 30–89 days past due and still accruing [Member] | 30–89 days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Non-U.S. [Member] | Non-U.S. [Member] | U.S. [Member] | U.S. [Member] | Investment Grade [Member] | Investment Grade [Member] | Noncriticized [Member] | Noncriticized [Member] | Criticized Performing [Member] | Criticized Performing [Member] | Criticized Nonaccrual [Member] | Criticized Nonaccrual [Member] | Current and less than 30 days past due and still accruing [Member] | Current and less than 30 days past due and still accruing [Member] | 30–89 days past due and still accruing [Member] | 30–89 days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | 90 or more days past due and still accruing [Member] | Nonaccrual [Member] | Nonaccrual [Member] | Non-U.S. [Member] | Non-U.S. [Member] | U.S. [Member] | U.S. [Member] | Investment Grade [Member] | Investment Grade [Member] | Noncriticized [Member] | Noncriticized [Member] | Criticized Performing [Member] | Criticized Performing [Member] | Criticized Nonaccrual [Member] | Criticized Nonaccrual [Member] | Noninvestment Grade [Member] | Noninvestment Grade [Member] | |||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total retained loans | $724,177 | $726,835 | $718,997 | $33,683 | $36,227 | $6,971 | $14,163 | ' | ' | ' | ' | $10,462 | $9,544 | $483 | $361 | $91,121 | $89,846 | $11,627 | $10,313 | $308,263 | $306,222 | $308,263 | $306,222 | $278,395 | ' | ' | $33,426 | $36,151 | $226 | $62 | $6 | $6 | $25 | $8 | $22,726 | $26,326 | $10,957 | $9,901 | $26,712 | $22,064 | $6,674 | $13,760 | $272 | $395 | $25 | $8 | $103,846 | $109,865 | $103,357 | $109,019 | $181 | $119 | $14 | $19 | $294 | $708 | $34,440 | $35,494 | $69,406 | $74,371 | $57,690 | $61,870 | $43,477 | $44,651 | $2,385 | $2,636 | $294 | $708 | $46,156 | $47,995 | $69,151 | $60,740 | $68,627 | $59,829 | $164 | $322 | $14 | $69 | $346 | $520 | $1,369 | $1,533 | $67,782 | $59,207 | $52,195 | $41,796 | $14,381 | $14,567 | $2,229 | $3,857 | $346 | $520 | $16,956 | $18,944 | ' | ' | $10,421 | $9,516 | $40 | $28 | $0 | $0 | $1 | $0 | $2,146 | $1,582 | $8,316 | $7,962 | $9,979 | $9,183 | $440 | $356 | $42 | $5 | $1 | $0 | ' | ' | $89,717 | $88,177 | $1,233 | $1,427 | $16 | $44 | $155 | $198 | $43,376 | $39,421 | $47,745 | $50,425 | $79,494 | $79,533 | $10,992 | $9,914 | $480 | $201 | $155 | $198 | $308,263 | $306,222 | $305,548 | $302,692 | $1,844 | $1,958 | $50 | $138 | $821 | $1,434 | $104,057 | $104,356 | $204,206 | $201,866 | $226,070 | $214,446 | $75,964 | $83,248 | $5,408 | $7,094 | $821 | $1,434 | $82,193 | $91,776 |
% of total criticized to total retained loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.88% | 1.11% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.58% | 3.04% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.72% | 7.21% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.41% | 0.05% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.70% | 0.44% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.02% | 2.78% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
% of nonaccrual loans to total retained loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.07% | 0.02% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.28% | 0.64% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | 0.86% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.01% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.17% | 0.22% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.27% | 0.47% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net charge-offs/(recoveries) | ' | ' | ' | ($99) | ($36) | ' | ' | $99 | ($212) | $6 | $54 | $1 | $2 | ' | ' | $9 | $14 | ' | ' | $16 | ($178) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
% of net charge-offs/(recoveries) to end-of-period retained loans | ' | ' | ' | -0.29% | -0.10% | ' | ' | 0.10% | -0.19% | 0.01% | 0.09% | 0.01% | 0.02% | ' | ' | 0.01% | 0.02% | ' | ' | 0.01% | -0.06% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans_Wholesale_Loan_Portfolio1
Loans - Wholesale Loan Portfolio - Real Estate Class of Loans (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' |
Total retained loans | $724,177 | $726,835 | $718,997 |
Wholesale-related [Member] | ' | ' | ' |
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' |
Total retained loans | 308,263 | 306,222 | 278,395 |
Wholesale-related [Member] | Wholesale Real Estate Multifamily [Member] | ' | ' | ' |
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' |
Total retained loans | 44,389 | 38,030 | ' |
% of total criticized to total retained loans | 2.57% | 5.57% | ' |
% of nonaccrual loans to total retained loans | 0.43% | 0.65% | ' |
Wholesale-related [Member] | Wholesale Real Estate Commercial Lessors [Member] | ' | ' | ' |
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' |
Total retained loans | 15,949 | 14,668 | ' |
% of total criticized to total retained loans | 8.30% | 13.30% | ' |
% of nonaccrual loans to total retained loans | 0.90% | 1.41% | ' |
Wholesale-related [Member] | Wholesale Real Estate Commercial Construction and Development [Member] | ' | ' | ' |
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' |
Total retained loans | 3,674 | 2,989 | ' |
% of total criticized to total retained loans | 2.20% | 3.98% | ' |
% of nonaccrual loans to total retained loans | 0.08% | 0.70% | ' |
Wholesale-related [Member] | Wholesale Real Estate Other Loans [Member] | ' | ' | ' |
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' |
Total retained loans | 5,139 | 5,053 | ' |
% of total criticized to total retained loans | 0.56% | 3.74% | ' |
% of nonaccrual loans to total retained loans | 0.18% | 0.85% | ' |
Wholesale-related [Member] | Real estate [Member] | ' | ' | ' |
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' |
Total retained loans | 69,151 | 60,740 | ' |
% of total criticized to total retained loans | 3.72% | 7.21% | ' |
% of nonaccrual loans to total retained loans | 0.50% | 0.86% | ' |
Wholesale-related [Member] | Criticized [Member] | Wholesale Real Estate Multifamily [Member] | ' | ' | ' |
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' |
Total retained loans | 1,142 | 2,118 | ' |
Wholesale-related [Member] | Criticized [Member] | Wholesale Real Estate Commercial Lessors [Member] | ' | ' | ' |
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' |
Total retained loans | 1,323 | 1,951 | ' |
Wholesale-related [Member] | Criticized [Member] | Wholesale Real Estate Commercial Construction and Development [Member] | ' | ' | ' |
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' |
Total retained loans | 81 | 119 | ' |
Wholesale-related [Member] | Criticized [Member] | Wholesale Real Estate Other Loans [Member] | ' | ' | ' |
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' |
Total retained loans | 29 | 189 | ' |
Wholesale-related [Member] | Criticized [Member] | Real estate [Member] | ' | ' | ' |
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' |
Total retained loans | 2,575 | 4,377 | ' |
Wholesale-related [Member] | Criticized Nonaccrual [Member] | Wholesale Real Estate Multifamily [Member] | ' | ' | ' |
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' |
Total retained loans | 191 | 249 | ' |
Wholesale-related [Member] | Criticized Nonaccrual [Member] | Wholesale Real Estate Commercial Lessors [Member] | ' | ' | ' |
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' |
Total retained loans | 143 | 207 | ' |
Wholesale-related [Member] | Criticized Nonaccrual [Member] | Wholesale Real Estate Commercial Construction and Development [Member] | ' | ' | ' |
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' |
Total retained loans | 3 | 21 | ' |
Wholesale-related [Member] | Criticized Nonaccrual [Member] | Wholesale Real Estate Other Loans [Member] | ' | ' | ' |
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' |
Total retained loans | 9 | 43 | ' |
Wholesale-related [Member] | Criticized Nonaccrual [Member] | Real estate [Member] | ' | ' | ' |
Loans and Leases Receivable Disclosure [Line Items] | ' | ' | ' |
Total retained loans | $346 | $520 | ' |
Loans_Wholesale_Loan_Portfolio2
Loans - Wholesale Loan Portfolio - Impaired Loans (Details) (USD $) | 12 Months Ended | |||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Commercial and Industrial [Member] | Real estate [Member] | Financial Institutions [Member] | Government Agencies [Member] | Wholesale Other [Member] | Commercial loan [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | Wholesale-related [Member] | |
Commercial and Industrial [Member] | Commercial and Industrial [Member] | Real estate [Member] | Real estate [Member] | Financial Institutions [Member] | Financial Institutions [Member] | Government Agencies [Member] | Government Agencies [Member] | Wholesale Other [Member] | Wholesale Other [Member] | Commercial loan [Member] | Commercial loan [Member] | |||||||
Impaired loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
With an allowance | ' | ' | ' | ' | ' | ' | $236 | $588 | $258 | $375 | $17 | $6 | $1 | $0 | $85 | $122 | $597 | $1,091 |
Without an allowance | ' | ' | ' | ' | ' | ' | 58 | 173 | 109 | 133 | 8 | 2 | 0 | 0 | 73 | 76 | 248 | 384 |
Total impaired loans | ' | ' | ' | ' | ' | ' | 294 | 761 | 367 | 508 | 25 | 8 | 1 | 0 | 158 | 198 | 845 | 1,475 |
Allowance for loan losses related to impaired loans | ' | ' | ' | ' | ' | ' | 75 | 205 | 63 | 82 | 16 | 2 | 0 | 0 | 27 | 30 | 181 | 319 |
Unpaid principal balance of impaired loans | ' | ' | ' | ' | ' | ' | 448 | 957 | 454 | 626 | 24 | 22 | 1 | 0 | 241 | 318 | 1,168 | 1,923 |
Average impaired loans | $1,309 | $1,813 | $84 | $20 | $634 | $3,860 | $412 | $873 | $484 | $784 | $17 | $17 | $0 | $9 | $211 | $277 | $1,124 | $1,960 |
Loans_Wholesale_Loan_Portfolio3
Loans - Wholesale Loan Portfolio - Loan Modification (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Commercial loan [Member] | Maximum [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Number of years before payment default under a modified loan | '1 year | ' | ' |
Wholesale-related [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Beginning balance of TDRs | $575,000,000 | $531,000,000 | $212,000,000 |
New TDRs | 60,000,000 | 162,000,000 | 665,000,000 |
Increases to existing TDRs | 4,000,000 | 183,000,000 | 96,000,000 |
Charge-offs post-modification | -9,000,000 | -27,000,000 | -30,000,000 |
Sales and other | -553,000,000 | -274,000,000 | -412,000,000 |
Ending balance of TDRs | 77,000,000 | 575,000,000 | 531,000,000 |
Additional commitments to lend to borrowers whose loans have been modified in TDRs | 19,000,000 | 44,000,000 | 147,000,000 |
Wholesale-related [Member] | Real estate [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Beginning balance of TDRs | 99,000,000 | 176,000,000 | 907,000,000 |
New TDRs | 43,000,000 | 43,000,000 | 113,000,000 |
Increases to existing TDRs | 0 | 0 | 16,000,000 |
Charge-offs post-modification | -3,000,000 | -2,000,000 | -146,000,000 |
Sales and other | -51,000,000 | -118,000,000 | -714,000,000 |
Ending balance of TDRs | 88,000,000 | 99,000,000 | 176,000,000 |
Additional commitments to lend to borrowers whose loans have been modified in TDRs | 0 | 0 | 0 |
Wholesale-related [Member] | Financial Institutions, Government Agencies and Other Wholesale [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Beginning balance of TDRs | 22,000,000 | 43,000,000 | 24,000,000 |
New TDRs | 50,000,000 | 73,000,000 | 32,000,000 |
Increases to existing TDRs | 0 | 0 | 0 |
Charge-offs post-modification | 0 | -7,000,000 | 0 |
Sales and other | -39,000,000 | -87,000,000 | -13,000,000 |
Ending balance of TDRs | 33,000,000 | 22,000,000 | 43,000,000 |
Additional commitments to lend to borrowers whose loans have been modified in TDRs | 0 | 2,000,000 | 0 |
Wholesale-related [Member] | Commercial loan [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Beginning balance of TDRs | 696,000,000 | 750,000,000 | 1,143,000,000 |
New TDRs | 153,000,000 | 278,000,000 | 810,000,000 |
Increases to existing TDRs | 4,000,000 | 183,000,000 | 112,000,000 |
Charge-offs post-modification | -12,000,000 | -36,000,000 | -176,000,000 |
Sales and other | -643,000,000 | -479,000,000 | -1,139,000,000 |
Ending balance of TDRs | 198,000,000 | 696,000,000 | 750,000,000 |
Additional commitments to lend to borrowers whose loans have been modified in TDRs | 19,000,000 | 46,000,000 | 147,000,000 |
Loans restructured at market rates but no longer reported as TDRs | 12,000,000 | 44,000,000 | 152,000,000 |
Modifications, average term or payment extension granted | '2 years 1 month 6 days | '1 year 1 month 6 days | '3 years 3 months 18 days |
Modifications, weighted-average remaining term | '2 years | '3 years 7 months 6 days | '4 years 6 months |
Modifications, subsequent default, recorded investment | 1,000,000 | 56,000,000 | 96,000,000 |
Wholesale-related [Member] | Nonaccrual [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Ending balance of TDRs | 77,000,000 | 522,000,000 | 415,000,000 |
Wholesale-related [Member] | Nonaccrual [Member] | Real estate [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Ending balance of TDRs | 61,000,000 | 92,000,000 | 128,000,000 |
Wholesale-related [Member] | Nonaccrual [Member] | Financial Institutions, Government Agencies and Other Wholesale [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Ending balance of TDRs | 30,000,000 | 22,000,000 | 35,000,000 |
Wholesale-related [Member] | Nonaccrual [Member] | Commercial loan [Member] | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' |
Ending balance of TDRs | $168,000,000 | $636,000,000 | $578,000,000 |
Allowance_for_Credit_Losses_De
Allowance for Credit Losses (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Provision for credit losses | $225 | $3,385 | $7,574 |
Loans by Impairment Methodology [Abstract] | ' | ' | ' |
Asset-specific | 17,745 | 20,175 | 19,655 |
Formula-based | 653,371 | 646,904 | 633,775 |
Purchased credit-impaired | 53,061 | 59,756 | 65,567 |
Retained loans | 724,177 | 726,835 | 718,997 |
Lending-related commitments by impairment methodology | ' | ' | ' |
Asset-specific | 206 | 355 | 865 |
Formula-based | 1,031,466 | 1,027,633 | 974,797 |
Total lending-related commitments | 1,031,672 | 1,027,988 | 975,662 |
Impaired collateral-dependent loans [Member] | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Allowance for Loan and Lease Losses Write-offs, Net | 272 | 1,050 | -238 |
Impaired Collateral Dependent Loans [Abstract] | ' | ' | ' |
Loans measured at fair value of collateral less cost to sell | 3,467 | 3,717 | 1,663 |
Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | Regulatory Guidance Regarding Chapter 7 Loans [Member] | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Gross charge-offs | ' | 747 | ' |
Auto [Member] | Regulatory Guidance Regarding Chapter 7 Loans [Member] | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Gross charge-offs | ' | 53 | ' |
Allowance for loan losses by impairment methodology [Member] | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Allowance for credit losses, beginning balance | 21,936 | 27,609 | 32,266 |
Gross charge-offs | 7,467 | 10,906 | 14,503 |
Gross (recoveries) | -1,665 | -1,843 | -2,266 |
Allowance for Loan and Lease Losses Write-offs, Net | 5,802 | 9,063 | 12,237 |
Provision for credit losses | 188 | 3,387 | 7,612 |
Other | -5 | 3 | -32 |
Allowance for credit losses, ending balance | 16,264 | 21,936 | 27,609 |
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | ' | ' | ' |
Asset-specific, allowance | 1,753 | 2,729 | 4,071 |
Formula-based | 10,353 | 13,496 | 17,827 |
Purchased Credit Impaired | 4,158 | 5,711 | 5,711 |
Total allowance for loan losses | 16,264 | 21,936 | 27,609 |
Allowance for loan losses by impairment methodology [Member] | Purchased Credit-Impaired [Member] | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Gross charge-offs | 53 | 0 | 0 |
Allowance for lending-related commitments [Member] | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Allowance for credit losses, beginning balance | 668 | 673 | 717 |
Provision for credit losses | 37 | 2 | 38 |
Other | 0 | -3 | -6 |
Allowance for credit losses, ending balance | 705 | 668 | 673 |
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | ' | ' | ' |
Allowance for Lending-Related Commitments, Evaluated at Asset-Specific Impairment Methodology | 60 | 97 | 150 |
Allowance for Lending-Related Commitments, Evaluated at Formula-Based Impairment Methodology | 645 | 571 | 523 |
Total allowance for loan losses | 705 | 668 | 673 |
Consumer, excluding credit card [Member] | ' | ' | ' |
Loans by Impairment Methodology [Abstract] | ' | ' | ' |
Asset-specific | 13,785 | 13,938 | 9,892 |
Formula-based | 221,609 | 218,945 | 232,989 |
Purchased credit-impaired | 53,055 | 59,737 | 65,546 |
Retained loans | 288,449 | 292,620 | 308,427 |
Lending-related commitments by impairment methodology | ' | ' | ' |
Asset-specific | 0 | 0 | 0 |
Formula-based | 56,057 | 60,156 | 62,307 |
Total lending-related commitments | 56,057 | 60,156 | 62,307 |
Consumer, excluding credit card [Member] | Purchased Credit-Impaired [Member] | ' | ' | ' |
Loans by Impairment Methodology [Abstract] | ' | ' | ' |
Retained loans | 53,055 | 59,737 | ' |
Consumer, excluding credit card [Member] | Impaired collateral-dependent loans [Member] | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Allowance for Loan and Lease Losses Write-offs, Net | 235 | 973 | -110 |
Impaired Collateral Dependent Loans [Abstract] | ' | ' | ' |
Loans measured at fair value of collateral less cost to sell | 3,105 | 3,272 | 830 |
Consumer, excluding credit card [Member] | Residential Real Estate, Excluding Purchased Credit-Impaired [Member] | ' | ' | ' |
Loans by Impairment Methodology [Abstract] | ' | ' | ' |
Retained loans | 152,129 | 151,896 | ' |
Consumer, excluding credit card [Member] | Auto [Member] | ' | ' | ' |
Loans by Impairment Methodology [Abstract] | ' | ' | ' |
Retained loans | 52,757 | 49,913 | ' |
Consumer, excluding credit card [Member] | Allowance for loan losses by impairment methodology [Member] | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Allowance for credit losses, beginning balance | 12,292 | 16,294 | 16,471 |
Gross charge-offs | 2,754 | 4,805 | 5,419 |
Gross (recoveries) | -847 | -508 | -547 |
Allowance for Loan and Lease Losses Write-offs, Net | 1,907 | 4,297 | 4,872 |
Provision for credit losses | -1,872 | 302 | 4,670 |
Other | -4 | -7 | 25 |
Allowance for credit losses, ending balance | 8,456 | 12,292 | 16,294 |
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | ' | ' | ' |
Asset-specific, allowance | 601 | 729 | 828 |
Formula-based | 3,697 | 5,852 | 9,755 |
Purchased Credit Impaired | 4,158 | 5,711 | 5,711 |
Total allowance for loan losses | 8,456 | 12,292 | 16,294 |
Consumer, excluding credit card [Member] | Allowance for loan losses by impairment methodology [Member] | Purchased Credit-Impaired [Member] | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Gross charge-offs | 53 | 0 | 0 |
Consumer, excluding credit card [Member] | Allowance for lending-related commitments [Member] | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Allowance for credit losses, beginning balance | 7 | 7 | 6 |
Provision for credit losses | 1 | 0 | -2 |
Other | 0 | 0 | -1 |
Allowance for credit losses, ending balance | 8 | 7 | 7 |
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | ' | ' | ' |
Allowance for Lending-Related Commitments, Evaluated at Asset-Specific Impairment Methodology | 0 | 0 | 0 |
Allowance for Lending-Related Commitments, Evaluated at Formula-Based Impairment Methodology | 8 | 7 | 7 |
Total allowance for loan losses | 8 | 7 | 7 |
Credit card [Member] | ' | ' | ' |
Loans by Impairment Methodology [Abstract] | ' | ' | ' |
Asset-specific | 3,115 | 4,762 | 7,214 |
Formula-based | 124,350 | 123,231 | 124,961 |
Purchased credit-impaired | 0 | 0 | 0 |
Retained loans | 127,465 | 127,993 | 132,175 |
Lending-related commitments by impairment methodology | ' | ' | ' |
Asset-specific | 0 | 0 | 0 |
Formula-based | 529,383 | 533,018 | 530,616 |
Total lending-related commitments | 529,383 | 533,018 | 530,616 |
Credit card [Member] | Impaired collateral-dependent loans [Member] | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Allowance for Loan and Lease Losses Write-offs, Net | 0 | 0 | 0 |
Impaired Collateral Dependent Loans [Abstract] | ' | ' | ' |
Loans measured at fair value of collateral less cost to sell | 0 | 0 | 0 |
Credit card [Member] | Allowance for loan losses by impairment methodology [Member] | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Allowance for credit losses, beginning balance | 5,501 | 6,999 | 11,034 |
Gross charge-offs | 4,472 | 5,755 | 8,168 |
Gross (recoveries) | -593 | -811 | -1,243 |
Allowance for Loan and Lease Losses Write-offs, Net | 3,879 | 4,944 | 6,925 |
Provision for credit losses | 2,179 | 3,444 | 2,925 |
Other | -6 | 2 | -35 |
Allowance for credit losses, ending balance | 3,795 | 5,501 | 6,999 |
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | ' | ' | ' |
Asset-specific, allowance | 971 | 1,681 | 2,727 |
Formula-based | 2,824 | 3,820 | 4,272 |
Purchased Credit Impaired | 0 | 0 | 0 |
Total allowance for loan losses | 3,795 | 5,501 | 6,999 |
Credit card [Member] | Allowance for loan losses by impairment methodology [Member] | Purchased Credit-Impaired [Member] | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Gross charge-offs | 0 | 0 | 0 |
Credit card [Member] | Allowance for lending-related commitments [Member] | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Allowance for credit losses, beginning balance | 0 | 0 | 0 |
Provision for credit losses | 0 | 0 | 0 |
Other | 0 | 0 | 0 |
Allowance for credit losses, ending balance | 0 | 0 | 0 |
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | ' | ' | ' |
Allowance for Lending-Related Commitments, Evaluated at Asset-Specific Impairment Methodology | 0 | 0 | 0 |
Allowance for Lending-Related Commitments, Evaluated at Formula-Based Impairment Methodology | 0 | 0 | 0 |
Total allowance for loan losses | 0 | 0 | 0 |
Wholesale [Member] | ' | ' | ' |
Loans by Impairment Methodology [Abstract] | ' | ' | ' |
Asset-specific | 845 | 1,475 | 2,549 |
Formula-based | 307,412 | 304,728 | 275,825 |
Purchased credit-impaired | 6 | 19 | 21 |
Retained loans | 308,263 | 306,222 | 278,395 |
Lending-related commitments by impairment methodology | ' | ' | ' |
Asset-specific | 206 | 355 | 865 |
Formula-based | 446,026 | 434,459 | 381,874 |
Total lending-related commitments | 446,232 | 434,814 | 382,739 |
Wholesale [Member] | Impaired collateral-dependent loans [Member] | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Allowance for Loan and Lease Losses Write-offs, Net | 37 | 77 | -128 |
Impaired Collateral Dependent Loans [Abstract] | ' | ' | ' |
Loans measured at fair value of collateral less cost to sell | 362 | 445 | 833 |
Wholesale [Member] | Allowance for loan losses by impairment methodology [Member] | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Allowance for credit losses, beginning balance | 4,143 | 4,316 | 4,761 |
Gross charge-offs | 241 | 346 | 916 |
Gross (recoveries) | -225 | -524 | -476 |
Allowance for Loan and Lease Losses Write-offs, Net | 16 | -178 | 440 |
Provision for credit losses | -119 | -359 | 17 |
Other | 5 | 8 | -22 |
Allowance for credit losses, ending balance | 4,013 | 4,143 | 4,316 |
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | ' | ' | ' |
Asset-specific, allowance | 181 | 319 | 516 |
Formula-based | 3,832 | 3,824 | 3,800 |
Purchased Credit Impaired | 0 | 0 | 0 |
Total allowance for loan losses | 4,013 | 4,143 | 4,316 |
Wholesale [Member] | Allowance for loan losses by impairment methodology [Member] | Purchased Credit-Impaired [Member] | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Gross charge-offs | 0 | 0 | 0 |
Wholesale [Member] | Allowance for lending-related commitments [Member] | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' |
Allowance for credit losses, beginning balance | 661 | 666 | 711 |
Provision for credit losses | 36 | 2 | 40 |
Other | 0 | -3 | -5 |
Allowance for credit losses, ending balance | 697 | 661 | 666 |
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | ' | ' | ' |
Allowance for Lending-Related Commitments, Evaluated at Asset-Specific Impairment Methodology | 60 | 97 | 150 |
Allowance for Lending-Related Commitments, Evaluated at Formula-Based Impairment Methodology | 637 | 564 | 516 |
Total allowance for loan losses | $697 | $661 | $666 |
Variable_Interest_Entities_Fir
Variable Interest Entities - Firm Sponsored Variable Interest Entities (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Total assets held by securitization VIEs | $271,700,000,000 | $295,800,000,000 |
Percentage of the Firm's retained securitization interests risk-rated 'A' or better, at fair value | 69.00% | 74.00% |
Corporate & Investment Bank [Member] | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Senior securities purchased, excluded from interests continued to be held by transferor, fair value | 151,000,000 | 131,000,000 |
Subordinated securities purchased, excluded from interests continued to be held by transferor, fair value | 30,000,000 | 45,000,000 |
Prime / Alt-A & Option AR [Member] | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Total assets held by securitization VIEs | 109,200,000,000 | 133,500,000,000 |
Prime / Alt-A & Option AR [Member] | External Credit Rating, Investment Grade [Member] | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Retained interest, fair value | 551,000,000 | 170,000,000 |
Prime / Alt-A & Option AR [Member] | Non Investment Grade BBplus and below [Member] | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Retained interest, fair value | 260,000,000 | 171,000,000 |
Subprime mortgage [Member] | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Total assets held by securitization VIEs | 32,100,000,000 | 34,500,000,000 |
Commercial mortgage [Member] | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Total assets held by securitization VIEs | 130,400,000,000 | 127,800,000,000 |
Commercial mortgage [Member] | External Credit Rating, Investment Grade [Member] | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Retained interest, fair value | 3,900,000,000 | 4,100,000,000 |
Commercial mortgage [Member] | Non Investment Grade BBplus and below [Member] | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Retained interest, fair value | 80,000,000 | 164,000,000 |
Variable Interest Entity, Primary Beneficiary [Member] | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Assets held in consolidated securitization VIEs | 4,500,000,000 | 4,000,000,000 |
Variable Interest Entity, Primary Beneficiary [Member] | Prime / Alt-A & Option AR [Member] | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Assets held in consolidated securitization VIEs | 3,200,000,000 | 2,700,000,000 |
Variable Interest Entity, Primary Beneficiary [Member] | Subprime mortgage [Member] | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Assets held in consolidated securitization VIEs | 1,300,000,000 | 1,300,000,000 |
Variable Interest Entity, Primary Beneficiary [Member] | Commercial mortgage [Member] | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Assets held in consolidated securitization VIEs | 0 | 0 |
Firm-sponsored credit card trusts [Member] | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Average undivided interest in VIE principal receivables | 30.00% | 28.00% |
Interest in sponsored credit card securitization trusts | 14,300,000,000 | 15,800,000,000 |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 14,300,000,000 | 15,800,000,000 |
Firm-sponsored credit card trusts [Member] | Senior securities [Member] | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 130,000,000 | 362,000,000 |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 130,000,000 | 362,000,000 |
Firm-sponsored credit card trusts [Member] | Subordinated securities [Member] | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 5,500,000,000 | 4,600,000,000 |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 5,500,000,000 | 4,600,000,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 4,900,000,000 | 4,700,000,000 |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Assets held in nonconsolidated securitization VIEs with continuing involvement | 216,407,000,000 | 219,765,000,000 |
Interest in sponsored credit card securitization trusts | 4,900,000,000 | 4,700,000,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Trading assets [Member] | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 1,100,000,000 | 1,900,000,000 |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 1,100,000,000 | 1,900,000,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Available-for-sale Securities [Member] | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 3,800,000,000 | 2,800,000,000 |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 3,800,000,000 | 2,800,000,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Prime / Alt-A & Option AR [Member] | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 800,000,000 | 300,000,000 |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Assets held in nonconsolidated securitization VIEs with continuing involvement | 90,381,000,000 | 106,667,000,000 |
Interest in sponsored credit card securitization trusts | 800,000,000 | 300,000,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Prime / Alt-A & Option AR [Member] | Trading assets [Member] | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 500,000,000 | 300,000,000 |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 500,000,000 | 300,000,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Prime / Alt-A & Option AR [Member] | Available-for-sale Securities [Member] | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 300,000,000 | 0 |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 300,000,000 | 0 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Subprime mortgage [Member] | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 100,000,000 | 100,000,000 |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Assets held in nonconsolidated securitization VIEs with continuing involvement | 28,008,000,000 | 31,264,000,000 |
Interest in sponsored credit card securitization trusts | 100,000,000 | 100,000,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Subprime mortgage [Member] | Trading assets [Member] | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 100,000,000 | 100,000,000 |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 100,000,000 | 100,000,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Subprime mortgage [Member] | Available-for-sale Securities [Member] | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 0 | 0 |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 0 | 0 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Commercial mortgage [Member] | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 4,000,000,000 | 4,300,000,000 |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Assets held in nonconsolidated securitization VIEs with continuing involvement | 98,018,000,000 | 81,834,000,000 |
Interest in sponsored credit card securitization trusts | 4,000,000,000 | 4,300,000,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Commercial mortgage [Member] | Trading assets [Member] | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 500,000,000 | 1,500,000,000 |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 500,000,000 | 1,500,000,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Commercial mortgage [Member] | Available-for-sale Securities [Member] | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 3,500,000,000 | 2,800,000,000 |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | $3,500,000,000 | $2,800,000,000 |
Minimum [Member] | Firm-sponsored credit card trusts [Member] | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Average undivided interest in VIE principal receivables | 4.00% | ' |
Variable_Interest_Entities_Res
Variable Interest Entities - Resecuritizations, Multi-seller Conduits (Details 1) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Variable Interest Entity [Line Items] | ' | ' | ' |
Securities transferred to agency resecuritization VIEs | $25,300,000,000 | $10,000,000,000 | $24,900,000,000 |
Securities transferred to private-label re-securitization VIEs | 55,000,000 | 286,000,000 | 381,000,000 |
Assets | 2,415,689,000,000 | 2,359,141,000,000 | 2,265,792,000,000 |
Off-balance sheet lending-related financial commitments, contractual amount | 1,031,672,000,000 | 1,027,988,000,000 | 975,662,000,000 |
Putable floating-rate certificates of municipal bond vehicles | 262,000,000 | 252,000,000 | ' |
Mortgage Securitization Entities [Member] | Re securitizations [Member] | ' | ' | ' |
Variable Interest Entity [Line Items] | ' | ' | ' |
Senior and subordinated interest in nonconsolidated agency re-securitization entities | 1,300,000,000 | 2,000,000,000 | ' |
Mortgage Securitization Entities [Member] | Re securitizations [Member] | Private label Resecuritizations [Member] | ' | ' | ' |
Variable Interest Entity [Line Items] | ' | ' | ' |
Senior and subordinated interest in nonconsolidated agency re-securitization entities | 6,000,000 | 61,000,000 | ' |
Mortgage Securitization Entities [Member] | Re securitizations [Member] | Residential mortgage-backed securities [Member] | Private label Resecuritizations [Member] | ' | ' | ' |
Variable Interest Entity [Line Items] | ' | ' | ' |
VIE, consolidated, carrying amount assets | 86,000,000 | 76,000,000 | ' |
VIE, consolidated, carrying amount liabilities | 23,000,000 | 5,000,000 | ' |
Firm-administered multi-seller conduits [Member] | ' | ' | ' |
Variable Interest Entity [Line Items] | ' | ' | ' |
Commercial paper issued by consolidated Variable Interest Entities eliminated in Consolidation | 4,100,000,000 | 8,300,000,000 | ' |
Firm-administered multi-seller conduits [Member] | Commercial mortgage [Member] | ' | ' | ' |
Variable Interest Entity [Line Items] | ' | ' | ' |
Off-balance sheet lending-related financial commitments, contractual amount | 9,100,000,000 | 10,800,000,000 | ' |
Not Primary Beneficiary, Nonconsolidated Private-Label Re-securitizations [Member] | ' | ' | ' |
Variable Interest Entity [Line Items] | ' | ' | ' |
Assets | 2,800,000,000 | 4,600,000,000 | ' |
Maximum [Member] | ' | ' | ' |
Variable Interest Entity [Line Items] | ' | ' | ' |
Program-wide credit enhancement required amount | 10.00% | ' | ' |
Putable floating-rate certificates of municipal bond vehicles | $470,000,000 | ' | ' |
Putable floating rate certificates of municipal bond vehicles percent | 4.80% | ' | ' |
Variable_Interest_Entities_Mun
Variable Interest Entities - Municipal Bond Vehicle VIEs (Details 2a) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
JPMorgan Chase & Co | JPMorgan Chase & Co | Not the Primary Beneficiary, Nonconsolidated Municipal Bond Vehicles | Not the Primary Beneficiary, Nonconsolidated Municipal Bond Vehicles | Not the Primary Beneficiary, Nonconsolidated Municipal Bond Vehicles | Not the Primary Beneficiary, Nonconsolidated Municipal Bond Vehicles | Not the Primary Beneficiary, Nonconsolidated Municipal Bond Vehicles | Not the Primary Beneficiary, Nonconsolidated Municipal Bond Vehicles | Not the Primary Beneficiary, Nonconsolidated Municipal Bond Vehicles | Not the Primary Beneficiary, Nonconsolidated Municipal Bond Vehicles | Not the Primary Beneficiary, Nonconsolidated Municipal Bond Vehicles | Not the Primary Beneficiary, Nonconsolidated Municipal Bond Vehicles | Not the Primary Beneficiary, Nonconsolidated Municipal Bond Vehicles | Not the Primary Beneficiary, Nonconsolidated Municipal Bond Vehicles | ||||
Municipal bond vehicles [Member] | Municipal bond vehicles [Member] | Municipal bond vehicles [Member] | Municipal bond vehicles [Member] | Municipal bond vehicles [Member] | Municipal bond vehicles [Member] | Municipal bond vehicles [Member] | Municipal bond vehicles [Member] | Municipal bond vehicles [Member] | Municipal bond vehicles [Member] | Municipal bond vehicles [Member] | Municipal bond vehicles [Member] | Municipal bond vehicles [Member] | Municipal bond vehicles [Member] | ||||
Investment Grade AAA to AAA- [Member] | Investment Grade AAA to AAA- [Member] | Investment Grade AAplus to AA- [Member] | Investment Grade AAplus to AA- [Member] | Investment Grade Aplus to A- | Investment Grade Aplus to A- | Investment Grade BBB to BBB- | Investment Grade BBB to BBB- | Non Investment Grade BBplus and below [Member] | Non Investment Grade BBplus and below [Member] | ||||||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of non-consolidated assets held by VIEs | $2,415,689,000,000 | $2,359,141,000,000 | $2,265,792,000,000 | ' | ' | $11,800,000,000 | $14,200,000,000 | $2,700,000,000 | $3,100,000,000 | $8,900,000,000 | $11,000,000,000 | $200,000,000 | $100,000,000 | $0 | $0 | $0 | $0 |
Liquidity facilities provided by Firm serving as liquidity provider | ' | ' | ' | ' | ' | 6,900,000,000 | 8,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Excess/ (deficit) | ' | ' | ' | ' | ' | 4,900,000,000 | 6,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum exposure | ' | ' | ' | $6,900,000,000 | $8,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average expected life of assets (years) | ' | ' | ' | ' | ' | '7 years 2 months 12 days | '5 years 10 months 24 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable_Interest_Entities_Cre
Variable Interest Entities - Credit Related Note, Asset Swap Vehicle VIEs (Details 2b) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Variable Interest Entity, Not Primary Beneficiary [Member] | ' | ' |
Exposure to nonconsolidated credit-linked note and asset swap VIEs [Abstract] | ' | ' |
Exposure to non-consolidated VIEs | $400,000,000 | $1,500,000,000 |
Par value of collateral held by VIEs | 16,400,000,000 | 20,800,000,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Credit linked notes [Member] | ' | ' |
Exposure to nonconsolidated credit-linked note and asset swap VIEs [Abstract] | ' | ' |
Exposure to non-consolidated VIEs | 0 | 1,100,000,000 |
Par value of collateral held by VIEs | 8,700,000,000 | 12,900,000,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Static structure [Member] | ' | ' |
Exposure to nonconsolidated credit-linked note and asset swap VIEs [Abstract] | ' | ' |
Exposure to non-consolidated VIEs | 0 | 500,000,000 |
Par value of collateral held by VIEs | 4,800,000,000 | 7,300,000,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Managed structure [Member] | ' | ' |
Exposure to nonconsolidated credit-linked note and asset swap VIEs [Abstract] | ' | ' |
Exposure to non-consolidated VIEs | 0 | 600,000,000 |
Par value of collateral held by VIEs | 3,900,000,000 | 5,600,000,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Asset Swap VIEs [Member] | ' | ' |
Exposure to nonconsolidated credit-linked note and asset swap VIEs [Abstract] | ' | ' |
Exposure to non-consolidated VIEs | 400,000,000 | 400,000,000 |
Par value of collateral held by VIEs | 7,700,000,000 | 7,900,000,000 |
Variable Interest Entity, Primary Beneficiary [Member] | Credit linked notes [Member] | ' | ' |
Exposure to nonconsolidated credit-linked note and asset swap VIEs [Abstract] | ' | ' |
VIE, consolidated, carrying amount assets | 311,000,000 | 483,000,000 |
Net derivative receivables [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ' | ' |
Exposure to nonconsolidated credit-linked note and asset swap VIEs [Abstract] | ' | ' |
Exposure to non-consolidated VIEs | 400,000,000 | 1,500,000,000 |
Net derivative receivables [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Credit linked notes [Member] | ' | ' |
Exposure to nonconsolidated credit-linked note and asset swap VIEs [Abstract] | ' | ' |
Exposure to non-consolidated VIEs | 0 | 1,100,000,000 |
Net derivative receivables [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Static structure [Member] | ' | ' |
Exposure to nonconsolidated credit-linked note and asset swap VIEs [Abstract] | ' | ' |
Exposure to non-consolidated VIEs | 0 | 500,000,000 |
Net derivative receivables [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Managed structure [Member] | ' | ' |
Exposure to nonconsolidated credit-linked note and asset swap VIEs [Abstract] | ' | ' |
Exposure to non-consolidated VIEs | 0 | 600,000,000 |
Net derivative receivables [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Asset Swap VIEs [Member] | ' | ' |
Exposure to nonconsolidated credit-linked note and asset swap VIEs [Abstract] | ' | ' |
Exposure to non-consolidated VIEs | $400,000,000 | $400,000,000 |
Variable_Interest_Entities_Thi
Variable Interest Entities - Third-party Sponsored VIEs (Details 2c) (Federal Reserve Bank of New York [Member], USD $) | 12 Months Ended | |
Dec. 31, 2012 | Jun. 30, 2008 | |
Federal Reserve Bank of New York [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
VIE, principal amount outstanding | ' | $30,000,000,000 |
Variable interest term loan contract amount | ' | 28,850,000,000 |
Variable interest subordinated loan contract amount | ' | 1,150,000,000 |
Gain on expected recovery of subordinated loan, pre-tax | $665,000,000 | ' |
Variable_Interest_Entities_Con
Variable Interest Entities - Consolidated VIE Assets and Liabilities (Details 3) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' |
Trading assets | $374,664 | $450,028 | ' |
Loans | 738,418 | 733,796 | ' |
Other assets, at fair value | 110,101 | 101,775 | ' |
Assets | 2,415,689 | 2,359,141 | 2,265,792 |
Beneficial interest liability, at fair value | 49,617 | 63,191 | ' |
Total liabilities | 2,204,511 | 2,155,072 | ' |
Variable Interest Entity, Primary Beneficiary [Member] | ' | ' | ' |
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' |
Loans | 70,100 | 82,700 | ' |
Other assets, at fair value | 2,200 | 2,100 | ' |
Assets | 78,700 | 96,800 | ' |
Beneficial interest liability, at fair value | 49,600 | 63,200 | ' |
All other liabilities | 1,100 | 1,200 | ' |
Total liabilities | 50,700 | 64,400 | ' |
Variable Interest Entity, Primary Beneficiary [Member] | Long Term Beneficial Interests [Member] | ' | ' | ' |
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' |
Beneficial interest liability, at fair value | 31,800 | 35,000 | ' |
Variable Interest Entity, Primary Beneficiary [Member] | Long-term beneficial interests maturities under 1 year [Member] | ' | ' | ' |
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' |
Beneficial interest liability, at fair value | 3,800 | ' | ' |
Variable Interest Entity, Primary Beneficiary [Member] | Long-term beneficial interests maturities between 1 and 5 years [Member] | ' | ' | ' |
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' |
Beneficial interest liability, at fair value | 20,600 | ' | ' |
Variable Interest Entity, Primary Beneficiary [Member] | Long-term beneficial interests maturities over 5 years [Member] | ' | ' | ' |
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' |
Beneficial interest liability, at fair value | 7,400 | ' | ' |
Variable Interest Entity, Primary Beneficiary [Member] | Student loan securitization [Member] | ' | ' | ' |
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' |
VIE, consolidated, carrying amount assets | 2,500 | 3,300 | ' |
Variable Interest Entity, Primary Beneficiary [Member] | Debt and equity securities [Member] | ' | ' | ' |
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' |
Trading assets | 6,400 | 12,000 | ' |
Variable Interest Entity, Primary Beneficiary [Member] | Firm-sponsored credit card trusts [Member] | ' | ' | ' |
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' |
Loans | 46,900 | 51,900 | ' |
Other assets, at fair value | 1,100 | 800 | ' |
Assets | 48,000 | 52,700 | ' |
Beneficial interest liability, at fair value | 26,600 | 30,100 | ' |
All other liabilities | 0 | 0 | ' |
Total liabilities | 26,600 | 30,100 | ' |
Variable Interest Entity, Primary Beneficiary [Member] | Firm-sponsored credit card trusts [Member] | Debt and equity securities [Member] | ' | ' | ' |
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' |
Trading assets | 0 | 0 | ' |
Variable Interest Entity, Primary Beneficiary [Member] | Firm-administered multi-seller conduits [Member] | ' | ' | ' |
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' |
Loans | 19,000 | 25,400 | ' |
Other assets, at fair value | 100 | 100 | ' |
Assets | 19,100 | 25,500 | ' |
Beneficial interest liability, at fair value | 14,900 | 17,200 | ' |
All other liabilities | 0 | 0 | ' |
Total liabilities | 14,900 | 17,200 | ' |
Variable Interest Entity, Primary Beneficiary [Member] | Firm-administered multi-seller conduits [Member] | Debt and equity securities [Member] | ' | ' | ' |
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' |
Trading assets | 0 | 0 | ' |
Variable Interest Entity, Primary Beneficiary [Member] | Municipal bond vehicles [Member] | ' | ' | ' |
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' |
Loans | 0 | 0 | ' |
Other assets, at fair value | 0 | 100 | ' |
Assets | 3,400 | 9,900 | ' |
Beneficial interest liability, at fair value | 2,900 | 11,000 | ' |
All other liabilities | 0 | 0 | ' |
Total liabilities | 2,900 | 11,000 | ' |
Variable Interest Entity, Primary Beneficiary [Member] | Municipal bond vehicles [Member] | Debt and equity securities [Member] | ' | ' | ' |
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' |
Trading assets | 3,400 | 9,800 | ' |
Variable Interest Entity, Primary Beneficiary [Member] | Mortgage securitization entities [Member] | ' | ' | ' |
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' |
Loans | 1,700 | 2,000 | ' |
Other assets, at fair value | 0 | 0 | ' |
Assets | 4,000 | 3,400 | ' |
Beneficial interest liability, at fair value | 2,900 | 2,300 | ' |
All other liabilities | 900 | 1,100 | ' |
Total liabilities | 3,800 | 3,400 | ' |
Variable Interest Entity, Primary Beneficiary [Member] | Mortgage securitization entities [Member] | Debt and equity securities [Member] | ' | ' | ' |
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' |
Trading assets | 2,300 | 1,400 | ' |
Variable Interest Entity, Primary Beneficiary [Member] | Other consumer securitizations [Member] | ' | ' | ' |
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' |
Loans | 2,500 | 3,400 | ' |
Other assets, at fair value | 1,000 | 1,100 | ' |
Assets | 4,200 | 5,300 | ' |
Beneficial interest liability, at fair value | 2,300 | 2,600 | ' |
All other liabilities | 200 | 100 | ' |
Total liabilities | 2,500 | 2,700 | ' |
Variable Interest Entity, Primary Beneficiary [Member] | Other consumer securitizations [Member] | Debt and equity securities [Member] | ' | ' | ' |
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' |
Trading assets | $700 | $800 | ' |
Variable_Interest_Entities_Sec
Variable Interest Entities - Securitization Activity (Details 4) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Variable Interest Entity (VIE) or Potential VIE, Information Unavailability [Member] | Commercial mortgage [Member] | ' | ' | ' |
Securitization activity [Abstract] | ' | ' | ' |
Principal securitized | $11,318 | $5,421 | $5,961 |
All cash flows during the period: | ' | ' | ' |
Proceeds from new securitizations | 11,507 | 5,705 | 6,142 |
Servicing fees collected | 5 | 4 | 4 |
Purchases of previously transferred financial assets (or the underlying collateral) | 0 | 0 | 0 |
Cash flows received on the interests that continue to be held by the Firm | 325 | 163 | 178 |
Variable Interest Entity (VIE) or Potential VIE, Information Unavailability [Member] | Commercial mortgage [Member] | ' | ' | ' |
All cash flows during the period: | ' | ' | ' |
Weighted-average life (in years) | '8 years 3 months 18 days | '8 years 9 months 18 days | '1 year 8 months 12 days |
Discount rate | 3.20% | 3.60% | 3.50% |
Variable Interest Entity (VIE) or Potential VIE, Information Unavailability [Member] | Residential mortgage-backed securities [Member] | ' | ' | ' |
Securitization activity [Abstract] | ' | ' | ' |
Principal securitized | 1,404 | 0 | 0 |
All cash flows during the period: | ' | ' | ' |
Proceeds from new securitizations | 1,410 | 0 | 0 |
Servicing fees collected | 576 | 662 | 755 |
Purchases of previously transferred financial assets (or the underlying collateral) | 294 | 222 | 772 |
Cash flows received on the interests that continue to be held by the Firm | 156 | 185 | 235 |
Level 2 [Member] | Residential mortgage-backed securities [Member] | ' | ' | ' |
All cash flows during the period: | ' | ' | ' |
Proceeds from new securitizations | 1,410 | ' | ' |
Level 2 [Member] | Residential and commercial mortgage securitizations [Member] | ' | ' | ' |
All cash flows during the period: | ' | ' | ' |
Proceeds from new securitizations | 11,300 | ' | 4,000 |
Level 3 [Member] | Residential and commercial mortgage securitizations [Member] | ' | ' | ' |
All cash flows during the period: | ' | ' | ' |
Proceeds from new securitizations | ' | 5,700 | 2,100 |
Cash [Member] | Level 2 [Member] | Commercial mortgage [Member] | ' | ' | ' |
All cash flows during the period: | ' | ' | ' |
Proceeds from new securitizations | $207 | ' | ' |
Variable_Interest_Entities_Loa
Variable Interest Entities - Loans Sold to Third-Party Sponsored Securitization Entities (Details 5) (Variable Interest Entity, Not Primary Beneficiary [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Variable Interest Entity, Not Primary Beneficiary [Member] | ' | ' | ' |
Summary of loan sale activities [Abstract] | ' | ' | ' |
Carrying value of loans sold | $166,028,000,000 | $179,008,000,000 | $149,247,000,000 |
Proceeds from Sale of Mortgage Loans Held-for-sale | 782,000,000 | 195,000,000 | 122,000,000 |
Proceeds received from loan sales as securities | 163,373,000,000 | 176,592,000,000 | 146,704,000,000 |
Total proceeds received from loan sales | 164,155,000,000 | 176,787,000,000 | 146,826,000,000 |
Gains on loan sales | 302,000,000 | 141,000,000 | 133,000,000 |
Loans Repurchased Or Loans With The Option To Repurchase | 14,300,000,000 | 15,600,000,000 | ' |
Real Estate Acquired Through Foreclosure | $2,000,000,000 | $1,600,000,000 | ' |
Variable_Interest_Entities_Int
Variable Interest Entities - Interest in Securitized Assets Held at Fair Value (Details 6) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Key economic assumptions used to determine the fair value of certain of the Firm's retained interests, other than MSRs [Abstract] | ' | ' |
Changes In fair value based on variation in assumptions limit first | 10.00% | 20.00% |
Variable Interest Entity, Not Primary Beneficiary [Member] | Commercial and other [Member] | ' | ' |
Key economic assumptions used to determine the fair value of certain of the Firm's retained interests, other than MSRs [Abstract] | ' | ' |
JPMorgan Chase interests in securitized assets | 520 | 1,488 |
Weighted-average life (in years) | '5 years 6 months | '6 years 1 month 6 days |
Weighted-average discount rate | 3.80% | 4.10% |
Impact of 10% adverse change | -9 | -34 |
Impact of 20% adverse change | -18 | -65 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Prime / Alt-A & Option AR [Member] | ' | ' |
Key economic assumptions used to determine the fair value of certain of the Firm's retained interests, other than MSRs [Abstract] | ' | ' |
JPMorgan Chase interests in securitized assets | 552 | 341 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Subprime mortgage [Member] | ' | ' |
Key economic assumptions used to determine the fair value of certain of the Firm's retained interests, other than MSRs [Abstract] | ' | ' |
JPMorgan Chase interests in securitized assets | 91 | 68 |
Variable_Interest_Entities_Loa1
Variable Interest Entities - Loan Delinquencies and Net Charge-offs (Details 7) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' |
Total assets held by securitization VIEs | $271,700,000,000 | $295,800,000,000 |
Prime / Alt-A & Option AR [Member] | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' |
Total assets held by securitization VIEs | 109,200,000,000 | 133,500,000,000 |
Subprime mortgage [Member] | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' |
Total assets held by securitization VIEs | 32,100,000,000 | 34,500,000,000 |
Commercial and other [Member] | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' |
Total assets held by securitization VIEs | 130,400,000,000 | 127,800,000,000 |
Securitized loans [Member] | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' |
90 days past due | 24,958,000,000 | 37,512,000,000 |
Liquidation Losses | 8,111,000,000 | 13,396,000,000 |
Securitized loans in which the firm has no continuing involvement | 50,800,000,000 | 72,000,000,000 |
Securitized loans [Member] | Prime / Alt-A & Option AR [Member] | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' |
90 days past due | 14,882,000,000 | 22,865,000,000 |
Liquidation Losses | 4,688,000,000 | 9,118,000,000 |
Securitized loans [Member] | Subprime mortgage [Member] | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' |
90 days past due | 7,726,000,000 | 10,570,000,000 |
Liquidation Losses | 2,420,000,000 | 3,013,000,000 |
Securitized loans [Member] | Commercial and other [Member] | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' |
90 days past due | 2,350,000,000 | 4,077,000,000 |
Liquidation Losses | 1,003,000,000 | 1,265,000,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' |
Credit exposure / loans securitized | 216,407,000,000 | 219,765,000,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Prime / Alt-A & Option AR [Member] | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' |
Credit exposure / loans securitized | 90,381,000,000 | 106,667,000,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Subprime mortgage [Member] | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' |
Credit exposure / loans securitized | 28,008,000,000 | 31,264,000,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Commercial and other [Member] | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' |
Credit exposure / loans securitized | 98,018,000,000 | 81,834,000,000 |
Variable Interest Entity, Primary Beneficiary [Member] | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' |
Assets held in consolidated securitization VIEs | 4,500,000,000 | 4,000,000,000 |
Variable Interest Entity, Primary Beneficiary [Member] | Prime / Alt-A & Option AR [Member] | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' |
Assets held in consolidated securitization VIEs | 3,200,000,000 | 2,700,000,000 |
Variable Interest Entity, Primary Beneficiary [Member] | Subprime mortgage [Member] | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' |
Assets held in consolidated securitization VIEs | 1,300,000,000 | 1,300,000,000 |
Variable Interest Entity, Primary Beneficiary [Member] | Commercial and other [Member] | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' |
Assets held in consolidated securitization VIEs | $0 | $0 |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | ||||
Intangible Assets By Major Class [Line Items] | ' | ' | ' | ' |
Goodwill | $48,081 | $48,175 | $48,188 | $48,854 |
Mortgage servicing rights | 9,614 | 7,614 | 7,223 | 13,649 |
Other intangible assets: | ' | ' | ' | ' |
Other intangible assets | 1,618 | 2,235 | 3,207 | ' |
Purchased credit card relationships [Member] | ' | ' | ' | ' |
Other intangible assets: | ' | ' | ' | ' |
Other intangible assets | 131 | 295 | 602 | ' |
Other credit card- related intangibles [Member] | ' | ' | ' | ' |
Other intangible assets: | ' | ' | ' | ' |
Other intangible assets | 173 | 229 | 488 | ' |
Core deposit intangibles [Member] | ' | ' | ' | ' |
Other intangible assets: | ' | ' | ' | ' |
Other intangible assets | 159 | 355 | 594 | ' |
Other intangibles [Member] | ' | ' | ' | ' |
Other intangible assets: | ' | ' | ' | ' |
Other intangible assets | $1,155 | $1,356 | $1,523 | ' |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets - by Business Segment (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | ||||
Goodwill [Line Items] | ' | ' | ' | ' |
Total goodwill | $48,081 | $48,175 | $48,188 | $48,854 |
Consumer & Community Banking [Member] | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' |
Total goodwill | 30,985 | 31,048 | 30,996 | ' |
Corporate & Investment Bank [Member] | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' |
Total goodwill | 6,888 | 6,895 | 6,944 | ' |
Commercial Banking [Member] | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' |
Total goodwill | 2,862 | 2,863 | 2,864 | ' |
Asset Management [Member] | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' |
Total goodwill | 6,969 | 6,992 | 7,007 | ' |
Corporate Private Equity [Member] | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' |
Total goodwill | $377 | $377 | $377 | ' |
Goodwill_and_Other_Intangible_5
Goodwill and Other Intangible Assets - Changes During Period (Details 2) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Changes in the carrying amount of goodwill [Abstract] | ' | ' | ' |
Balance at beginning of period | $48,175 | $48,188 | $48,854 |
Changes during the period: | ' | ' | ' |
Business combinations | 64 | 43 | 97 |
Dispositions | -5 | -4 | -685 |
Other | -153 | -52 | -78 |
Balance at end of period | $48,081 | $48,175 | $48,188 |
Goodwill_and_Other_Intangible_6
Goodwill and Other Intangible Assets - Mortgage Servicing Rights (Details 3) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Mortgage servicing rights activity [Abstract] | ' | ' | ' |
Fair value at the beginning of the period | $7,614,000,000 | $7,223,000,000 | $13,649,000,000 |
MSR activity: | ' | ' | ' |
Originations of MSRs | 2,214,000,000 | 2,376,000,000 | 2,570,000,000 |
Purchase of MSRs | 1,000,000 | 457,000,000 | 33,000,000 |
Disposition of MSRs | -725,000,000 | -579,000,000 | 0 |
Net additions and amortization | 1,490,000,000 | 2,254,000,000 | 2,603,000,000 |
Changes due to collection/realization of expected cash flows | -1,102,000,000 | -1,228,000,000 | -1,910,000,000 |
Changes in valuation due to inputs and assumptions: | ' | ' | ' |
Gains (loss) in fair value due to market interest rates | 2,122,000,000 | -589,000,000 | -5,392,000,000 |
Changes in valuation due to other inputs and assumptions: | ' | ' | ' |
Projected cash flows (e.g., cost to service) | 109,000,000 | -452,000,000 | -1,757,000,000 |
Discount rates | -78,000,000 | -98,000,000 | -1,238,000,000 |
Prepayment model changes and other | -541,000,000 | 504,000,000 | 1,268,000,000 |
Total changes in valuation due to other inputs and assumptions | -510,000,000 | -46,000,000 | -1,727,000,000 |
Total change in fair value of MSRs | 1,612,000,000 | -635,000,000 | -7,119,000,000 |
Fair value at Dec 31 | 9,614,000,000 | 7,614,000,000 | 7,223,000,000 |
Change in unrealized gains/(losses) included in income related to MSRs held at December 31 | 1,612,000,000 | -635,000,000 | -7,119,000,000 |
Contractual service fees, late fees and other ancillary fees included in income | 3,309,000,000 | 3,783,000,000 | 3,977,000,000 |
Third-party mortgage loans serviced at December 31 (in billions) | 822,000,000,000 | 867,000,000,000 | 910,200,000,000 |
Servicer advances at December 31 (in billions) | 9,600,000,000 | 10,900,000,000 | 11,116,000,000 |
MSR activity supplemental information | ' | ' | ' |
Commercial real estate, fair value period increase (decrease) | -5,000,000 | -8,000,000 | -9,000,000 |
Commercial real estate, fair value | $18,000,000 | $23,000,000 | $31,000,000 |
Goodwill_and_Other_Intangible_7
Goodwill and Other Intangible Assets - Mortgage Servicing Rights Narrative (Details 4) (USD $) | 12 Months Ended | 3 Months Ended | ||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | |
Consumer & Community Banking [Member] | Consumer & Community Banking [Member] | Consumer & Community Banking [Member] | Option Adjusted Spread Assumption Used To Value Mortgage Servicing Rights [Member] | Prepayment Model Used To Value Mortgage Servicing Rights [Member] | ||||
Servicing Assets at Fair Value [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Mortgage servicing right, increase (decrease) | ' | ' | ($6,400,000,000) | ' | ' | ' | ' | ' |
Gains (loss) in fair value due to market interest rates | 2,122,000,000 | -589,000,000 | -5,392,000,000 | ' | ' | -5,400,000,000 | ' | ' |
Gain (loss) on derivative, net, real estate mortgages related and other adjustments | ' | ' | ' | -1,875,000,000 | 1,252,000,000 | 5,553,000,000 | ' | ' |
Change in fair value resulting from changes in cost to service assumptions | ' | ' | -1,700,000,000 | ' | ' | ' | ' | ' |
Change in option adjusted spread adjustments | ' | ' | ' | ' | ' | ' | 4.00% | ' |
Other changes in fair value resulting from changes in valuation inputs or changes in assumptions | ' | ' | ' | ' | ' | ' | ' | $1,200,000,000 |
Goodwill_and_Other_Intangible_8
Goodwill and Other Intangible Assets - Mortgage Fees and Related Income (Details 5) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Risk management: | ' | ' | ' |
All other | $10 | $7 | $7 |
Mortgage fees and related income | 5,205 | 8,687 | 2,721 |
Consumer & Community Banking [Member] | ' | ' | ' |
Net production revenue: | ' | ' | ' |
Production revenue | 2,673 | 5,783 | 3,395 |
Repurchase losses | 331 | -272 | -1,347 |
Net production revenue | 3,004 | 5,511 | 2,048 |
Operating revenue: | ' | ' | ' |
Loan servicing revenue | 3,552 | 3,772 | 4,134 |
Changes in MSR asset fair value due to modeled amortization | -1,094 | -1,222 | -1,904 |
Total operating revenue | 2,458 | 2,550 | 2,230 |
Risk management: | ' | ' | ' |
Changes in MSR asset fair value due to market interest rates | 2,119 | -587 | -5,390 |
Other changes in MSR asset fair value due to inputs or assumptions in model | -511 | -46 | -1,727 |
Derivative valuation adjustments and other | -1,875 | 1,252 | 5,553 |
Total risk management | -267 | 619 | -1,564 |
Total CCB net mortgage servicing revenue | $2,191 | $3,169 | $666 |
Goodwill_and_Other_Intangible_9
Goodwill and Other Intangible Assets - Key Economic Assumptions (Details 6) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' |
Weighted-average prepayment speed assumption (CPR) | 8.07% | 13.04% |
Impact on fair value of 10% adverse change | ($362) | ($517) |
Impact on fair value of 20% adverse change | -705 | -1,009 |
Weighted-average option adjusted spread | 7.77% | 7.61% |
Impact on fair value of 100 basis points adverse change | -389 | -306 |
Impact on fair value of 200 basis points adverse change | ($750) | ($591) |
Recovered_Sheet9
Goodwill and Other Intangible Assets - Other Intangible Assets (Details 7) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Intangible Assets By Major Class [Line Items] | ' | ' | ' |
Increase (decrease) in other intangible assets | ($617) | ' | ' |
Amortization of intangibles | 637 | 957 | 848 |
Components of credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' |
Net carrying value | 1,618 | 2,235 | 3,207 |
Indefinite-lived intangible assets | 600 | ' | ' |
Purchased credit card relationships [Member] | ' | ' | ' |
Intangible Assets By Major Class [Line Items] | ' | ' | ' |
Amortization of intangibles | 195 | 309 | 295 |
Components of credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' |
Gross amount | 3,540 | 3,775 | ' |
Accumulated amortization | 3,409 | 3,480 | ' |
Net carrying value | 131 | 295 | 602 |
Other credit card- related intangibles [Member] | ' | ' | ' |
Intangible Assets By Major Class [Line Items] | ' | ' | ' |
Amortization of intangibles | 58 | 265 | 106 |
Components of credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' |
Gross amount | 542 | 850 | ' |
Accumulated amortization | 369 | 621 | ' |
Net carrying value | 173 | 229 | 488 |
Core deposit intangibles [Member] | ' | ' | ' |
Intangible Assets By Major Class [Line Items] | ' | ' | ' |
Amortization of intangibles | 196 | 239 | 285 |
Components of credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' |
Gross amount | 4,133 | 4,133 | ' |
Accumulated amortization | 3,974 | 3,778 | ' |
Net carrying value | 159 | 355 | 594 |
Other intangibles [Member] | ' | ' | ' |
Components of credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' |
Gross amount | 2,374 | 2,390 | ' |
Accumulated amortization | 1,219 | 1,034 | ' |
Net carrying value | $1,155 | $1,356 | ' |
Recovered_Sheet10
Goodwill and Other Intangible Assets - Amortization Expense (Details 8) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' |
Amortization expense | $637 | $957 | $848 |
Purchased credit card relationships [Member] | ' | ' | ' |
Amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' |
Amortization expense | 195 | 309 | 295 |
Other credit card- related intangibles [Member] | ' | ' | ' |
Amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' |
Amortization expense | 58 | 265 | 106 |
Core deposit intangibles [Member] | ' | ' | ' |
Amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' |
Amortization expense | 196 | 239 | 285 |
Other intangibles [Member] | ' | ' | ' |
Amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' |
Amortization expense | $188 | $144 | $162 |
Recovered_Sheet11
Goodwill and Other Intangible Assets - Future Amortization Expense (Details 9) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Estimated future amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' |
2013 | $360 |
2014 | 169 |
2015 | 143 |
2016 | 102 |
2017 | 80 |
Purchased credit card relationships [Member] | ' |
Estimated future amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' |
2013 | 96 |
2014 | 12 |
2015 | 9 |
2016 | 5 |
2017 | 3 |
Other credit card- related intangibles [Member] | ' |
Estimated future amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' |
2013 | 51 |
2014 | 39 |
2015 | 34 |
2016 | 29 |
2017 | 20 |
Core deposit intangibles [Member] | ' |
Estimated future amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' |
2013 | 102 |
2014 | 26 |
2015 | 14 |
2016 | 7 |
2017 | 5 |
Other intangibles [Member] | ' |
Estimated future amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' |
2013 | 111 |
2014 | 92 |
2015 | 86 |
2016 | 61 |
2017 | $52 |
Deposits_Noninterest_and_Inter
Deposits - Noninterest and Interest-bearing (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
U.S. offices: | ' | ' |
Noninterest-bearing | $389,863 | $380,320 |
Interest-bearing | ' | ' |
Demand | 84,631 | 53,980 |
Savings | 450,405 | 407,710 |
Time (included $5,906 and $5,140 at fair value) | 91,356 | 90,416 |
Total interest-bearing deposits | 626,392 | 552,106 |
Total deposits in U.S. offices | 1,016,255 | 932,426 |
Non-U.S. offices: | ' | ' |
Noninterest-bearing | 17,611 | 17,845 |
Interest-bearing | ' | ' |
Demand | 214,391 | 195,395 |
Savings | 1,083 | 1,004 |
Time (included $718 and $593 at fair value) | 38,425 | 46,923 |
Total interest-bearing deposits | 253,899 | 243,322 |
Total deposits in non-U.S. offices | 271,510 | 261,167 |
Total deposits | 1,287,765 | 1,193,593 |
Portion at Fair Value Measurement [Member] | ' | ' |
Interest-bearing | ' | ' |
Time (included $5,906 and $5,140 at fair value) | 5,995 | 5,140 |
Interest-bearing | ' | ' |
Time (included $718 and $593 at fair value) | $629 | $593 |
Deposits_Time_Deposits_Details
Deposits - Time Deposits (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Time deposits in denominations of $100,000 or more | ' | ' |
U.S. offices | $74,804 | $70,008 |
Non-U.S. offices | 38,412 | 46,890 |
Total | 113,216 | 116,898 |
Maturities of interest bearing time deposits | ' | ' |
2014 | 110,524 | ' |
2015 | 5,756 | ' |
2016 | 6,676 | ' |
2017 | 1,442 | ' |
2018 | 2,046 | ' |
After 5 years | 3,337 | ' |
Total | 129,781 | ' |
U.S. [Member] | ' | ' |
Maturities of interest bearing time deposits | ' | ' |
2014 | 73,130 | ' |
2015 | 5,395 | ' |
2016 | 6,274 | ' |
2017 | 1,387 | ' |
2018 | 1,845 | ' |
After 5 years | 3,325 | ' |
Total | 91,356 | ' |
Non-U.S. [Member] | ' | ' |
Maturities of interest bearing time deposits | ' | ' |
2014 | 37,394 | ' |
2015 | 361 | ' |
2016 | 402 | ' |
2017 | 55 | ' |
2018 | 201 | ' |
After 5 years | 12 | ' |
Total | $38,425 | ' |
Accounts_Payable_and_Other_Lia2
Accounts Payable and Other Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Components of Accounts Payable and Other Liabilities | ' | ' |
Brokerage payables | $116,391 | $108,398 |
Accounts payable and other liabilities | 78,100 | 86,842 |
Total | 194,491 | 195,240 |
Recurring [Member] | Portion at Fair Value Measurement [Member] | ' | ' |
Components of Accounts Payable and Other Liabilities | ' | ' |
Accounts payable and other liabilities | $25 | $36 |
LongTerm_debt_Summary_of_LongT
Long-Term debt - Summary of Long-Term Debt (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | $45,434,000,000 | ' |
1-5 years | 146,911,000,000 | ' |
After 5 years | 75,544,000,000 | ' |
Long-term debt | 267,889,000,000 | 249,024,000,000 |
Interest rates, Minimum | 0.12% | ' |
Interest rates, Maximum | 8.75% | ' |
Long Term Debt - Supplemental Information | ' | ' |
Interest rate modified for the effects of hedge accounting, Minimum | -0.18% | ' |
Interest rate modified for the effects of hedge accounting, Maximum | 8.00% | ' |
Collateral used to secure Long Term Debt | 131,300,000,000 | 112,800,000,000 |
Zero-coupon notes | 2,700,000,000 | 1,600,000,000 |
Zero-coupon notes - aggregate principal amount at maturity | 4,500,000,000 | 3,000,000,000 |
Beneficial interest liability, at fair value | 49,617,000,000 | 63,191,000,000 |
Commercial paper | 57,848,000,000 | 55,367,000,000 |
Redeemable Long Term Debt | 24,600,000,000 | ' |
Long term debt maturing in year 2 | 43,300,000,000 | ' |
Long term debt maturing in year 3 | 36,300,000,000 | ' |
Long term debt maturing in year 4 | 32,500,000,000 | ' |
Long term debt maturing in year 5 | 34,800,000,000 | ' |
Weighted average contractual interest rates for long term debt | 2.56% | 3.09% |
Long term debt weighted average contractual Interest Rate, modified for the effects of hedge accounting | 0.0154 | 0.0233 |
Guarantee of Indebtedness of Others [Member] | ' | ' |
Long Term Debt - Supplemental Information | ' | ' |
Parent Company guarantee of certain debt of its subsidiaries, including both long-term debt and structured notes | 500,000,000 | 1,700,000,000 |
Long Term Beneficial Interests [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | 3,791,000,000 | ' |
1-5 years | 20,593,000,000 | ' |
After 5 years | 7,446,000,000 | ' |
Long-term debt | 31,830,000,000 | 34,972,000,000 |
Under 1 year, Minimum | 0.19% | ' |
1-5 years, Minimum | 0.19% | ' |
Under 1 year, Maximum | 5.63% | ' |
1-5 years, Maximum | 5.35% | ' |
After 5 years, Minimum | 0.04% | ' |
After 5 years, maximum | 15.93% | ' |
Interest rates, Minimum | 0.04% | 0.23% |
Interest rates, Maximum | 15.93% | 13.91% |
Long Term Debt - Supplemental Information | ' | ' |
Commercial paper | 17,800,000,000 | 28,200,000,000 |
Junior Subordinated Debt [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | 0 | ' |
1-5 years | 0 | ' |
After 5 years | 5,445,000,000 | ' |
Long-term debt | 5,445,000,000 | 10,399,000,000 |
Under 1 year, Minimum | 0.00% | ' |
1-5 years, Minimum | 0.00% | ' |
Under 1 year, Maximum | 0.00% | ' |
1-5 years, Maximum | 0.00% | ' |
After 5 years, Minimum | 0.74% | ' |
After 5 years, maximum | 8.75% | ' |
Interest rates, Minimum | 0.74% | 0.81% |
Interest rates, Maximum | 8.75% | 8.75% |
Secured Debt [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Long-term debt | 68,400,000,000 | 48,000,000,000 |
Long-term Debt, Fixed Interest Rate [Member] | Long Term Beneficial Interests [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | 353,000,000 | ' |
1-5 years | 7,537,000,000 | ' |
After 5 years | 3,068,000,000 | ' |
Long-term debt | 10,958,000,000 | 10,393,000,000 |
Long-term Debt, Fixed Interest Rate [Member] | Junior Subordinated Debt [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | 0 | ' |
1-5 years | 0 | ' |
After 5 years | 2,176,000,000 | ' |
Long-term debt | 2,176,000,000 | 7,131,000,000 |
Long Term Debt Variable Interest Rate [Member] | Long Term Beneficial Interests [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | 3,438,000,000 | ' |
1-5 years | 13,056,000,000 | ' |
After 5 years | 4,378,000,000 | ' |
Long-term debt | 20,872,000,000 | 24,579,000,000 |
Long Term Debt Variable Interest Rate [Member] | Junior Subordinated Debt [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | 0 | ' |
1-5 years | 0 | ' |
After 5 years | 3,269,000,000 | ' |
Long-term debt | 3,269,000,000 | 3,268,000,000 |
JPMorgan Chase & Co. [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | 26,415,000,000 | ' |
1-5 years | 81,554,000,000 | ' |
After 5 years | 53,899,000,000 | ' |
Long-term debt | 161,868,000,000 | 158,233,000,000 |
Long Term Debt - Supplemental Information | ' | ' |
Long term debt maturing in year 2 | 23,800,000,000 | ' |
Long term debt maturing in year 3 | 22,500,000,000 | ' |
Long term debt maturing in year 4 | 16,600,000,000 | ' |
Long term debt maturing in year 5 | 18,700,000,000 | ' |
JPMorgan Chase & Co. [Member] | Senior Debt Obligations [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year, Minimum | 0.38% | ' |
1-5 years, Minimum | 0.35% | ' |
Under 1 year, Maximum | 6.25% | ' |
1-5 years, Maximum | 7.25% | ' |
After 5 years, Minimum | 0.19% | ' |
After 5 years, maximum | 6.40% | ' |
Interest rates, Minimum | 0.19% | 0.26% |
Interest rates, Maximum | 7.25% | 7.25% |
JPMorgan Chase & Co. [Member] | Subordinated Debt Obligations [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year, Minimum | 1.92% | ' |
1-5 years, Minimum | 0.63% | ' |
Under 1 year, Maximum | 5.13% | ' |
1-5 years, Maximum | 6.13% | ' |
After 5 years, Minimum | 3.38% | ' |
After 5 years, maximum | 8.53% | ' |
Interest rates, Minimum | 0.63% | 0.61% |
Interest rates, Maximum | 8.53% | 8.53% |
JPMorgan Chase & Co. [Member] | Long-term Debt, Fixed Interest Rate [Member] | Senior Debt Obligations [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | 11,100,000,000 | ' |
1-5 years | 49,241,000,000 | ' |
After 5 years | 40,733,000,000 | ' |
Long-term debt | 101,074,000,000 | 99,716,000,000 |
JPMorgan Chase & Co. [Member] | Long-term Debt, Fixed Interest Rate [Member] | Subordinated Debt Obligations [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | 2,904,000,000 | ' |
1-5 years | 4,966,000,000 | ' |
After 5 years | 7,328,000,000 | ' |
Long-term debt | 15,198,000,000 | 16,312,000,000 |
JPMorgan Chase & Co. [Member] | Long Term Debt Variable Interest Rate [Member] | Senior Debt Obligations [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | 12,411,000,000 | ' |
1-5 years | 22,790,000,000 | ' |
After 5 years | 5,829,000,000 | ' |
Long-term debt | 41,030,000,000 | 38,765,000,000 |
JPMorgan Chase & Co. [Member] | Long Term Debt Variable Interest Rate [Member] | Subordinated Debt Obligations [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | 0 | ' |
1-5 years | 4,557,000,000 | ' |
After 5 years | 9,000,000 | ' |
Long-term debt | 4,566,000,000 | 3,440,000,000 |
Subsidiaries [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | 19,019,000,000 | ' |
1-5 years | 65,357,000,000 | ' |
After 5 years | 16,200,000,000 | ' |
Long-term debt | 100,576,000,000 | 80,392,000,000 |
Subsidiaries [Member] | Senior Debt Obligations [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year, Minimum | 0.12% | ' |
1-5 years, Minimum | 0.21% | ' |
Under 1 year, Maximum | 3.75% | ' |
1-5 years, Maximum | 8.00% | ' |
After 5 years, Minimum | 7.28% | ' |
After 5 years, maximum | 7.28% | ' |
Interest rates, Minimum | 0.12% | 0.16% |
Interest rates, Maximum | 8.00% | 7.28% |
Subsidiaries [Member] | Subordinated Debt Obligations [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year, Minimum | 0.00% | ' |
1-5 years, Minimum | 0.57% | ' |
Under 1 year, Maximum | 0.00% | ' |
1-5 years, Maximum | 6.00% | ' |
After 5 years, Minimum | 4.38% | ' |
After 5 years, maximum | 8.25% | ' |
Interest rates, Minimum | 0.57% | 0.64% |
Interest rates, Maximum | 8.25% | 8.25% |
Subsidiaries [Member] | Federal Home Loan Bank Advances [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year, Minimum | 0.20% | ' |
1-5 years, Minimum | 0.16% | ' |
Under 1 year, Maximum | 1.54% | ' |
1-5 years, Maximum | 2.04% | ' |
After 5 years, Minimum | 0.36% | ' |
After 5 years, maximum | 0.43% | ' |
Interest rates, Minimum | 0.16% | 0.30% |
Interest rates, Maximum | 2.04% | 2.04% |
Subsidiaries [Member] | Long-term Debt, Fixed Interest Rate [Member] | Senior Debt Obligations [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | 347,000,000 | ' |
1-5 years | 1,655,000,000 | ' |
After 5 years | 3,426,000,000 | ' |
Long-term debt | 5,428,000,000 | 6,761,000,000 |
Subsidiaries [Member] | Long-term Debt, Fixed Interest Rate [Member] | Subordinated Debt Obligations [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | 0 | ' |
1-5 years | 5,445,000,000 | ' |
After 5 years | 1,841,000,000 | ' |
Long-term debt | 7,286,000,000 | 7,513,000,000 |
Subsidiaries [Member] | Long-term Debt, Fixed Interest Rate [Member] | Federal Home Loan Bank Advances [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | 1,029,000,000 | ' |
1-5 years | 2,022,000,000 | ' |
After 5 years | 185,000,000 | ' |
Long-term debt | 3,236,000,000 | 4,712,000,000 |
Subsidiaries [Member] | Long Term Debt Variable Interest Rate [Member] | Senior Debt Obligations [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | 6,593,000,000 | ' |
1-5 years | 14,117,000,000 | ' |
After 5 years | 2,748,000,000 | ' |
Long-term debt | 23,458,000,000 | 21,607,000,000 |
Subsidiaries [Member] | Long Term Debt Variable Interest Rate [Member] | Subordinated Debt Obligations [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | 0 | ' |
1-5 years | 2,528,000,000 | ' |
After 5 years | 0 | ' |
Long-term debt | 2,528,000,000 | 2,466,000,000 |
Subsidiaries [Member] | Long Term Debt Variable Interest Rate [Member] | Federal Home Loan Bank Advances [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Under 1 year | 11,050,000,000 | ' |
1-5 years | 39,590,000,000 | ' |
After 5 years | 8,000,000,000 | ' |
Long-term debt | 58,640,000,000 | 37,333,000,000 |
Portion at Fair Value Measurement [Member] | ' | ' |
Long-term debt carrying values by contractual maturity | ' | ' |
Long-term debt | 28,878,000,000 | 30,788,000,000 |
Recurring [Member] | Portion at Fair Value Measurement [Member] | ' | ' |
Long Term Debt - Supplemental Information | ' | ' |
Long-term debt and junior subordinated deferrable interest debentures | 28,878,000,000 | 30,788,000,000 |
Recurring [Member] | Portion at Fair Value Measurement [Member] | Long Term Beneficial Interests [Member] | ' | ' |
Long Term Debt - Supplemental Information | ' | ' |
Beneficial interest, fair value disclosures | 1,996,000,000 | 1,170,000,000 |
Beneficial interest liability, at fair value | ' | $1,200,000,000 |
Longterm_debt_Junior_Subordina
Long-term debt - Junior Subordinated Debt (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | 8-May-13 | Jul. 12, 2012 | Mar. 31, 2012 | Dec. 31, 2013 |
entities | Bank One Capital III [Member] | Bank One Capital III [Member] | Chase Capital II [Member] | Chase Capital II [Member] | Chase Capital II [Member] | Chase Capital III [Member] | Chase Capital III [Member] | Chase Capital III [Member] | Chase Capital VI [Member] | Chase Capital VI [Member] | Chase Capital VI [Member] | First Chicago NBD Capital I [Member] | First Chicago NBD Capital I [Member] | First Chicago NBD Capital I [Member] | JPMorgan Chase Capital XIII [Member] | JPMorgan Chase Capital XIII [Member] | JPMorgan Chase Capital XIII [Member] | JPMorgan Chase Capital XXI [Member] | JPMorgan Chase Capital XXI [Member] | JPMorgan Chase Capital XXI [Member] | JPMorgan Chase Capital XXIII [Member] | JPMorgan Chase Capital XXIII [Member] | JPMorgan Chase Capital XXIII [Member] | JPMorgan Chase Capital XXIX [Member] | JPMorgan Chase Capital XXIX [Member] | JPMorgan Chase & Co. [Member] | JPMorgan Chase & Co. [Member] | JPMorgan Chase & Co. [Member] | JPMorgan Chase & Co. [Member] | ||
LIBOR [Member] | LIBOR [Member] | LIBOR [Member] | LIBOR [Member] | LIBOR [Member] | LIBOR [Member] | LIBOR [Member] | |||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for repurchase of trust preferred securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,000,000,000 | $9,000,000,000 | ' | ' |
Junior subordinated debenture owed to unconsolidated subsidiary trust, liquidation preference, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | ' | ' |
Gains (losses) on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 888,000,000 | ' |
Outstanding trust preferred debt security issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of issuer trusts that had issued guaranteed capital debt securities | 9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of trust preferred capital debt securities issued by trust | 5,186,000,000 | ' | 474,000,000 | ' | 482,000,000 | ' | ' | 296,000,000 | ' | ' | 241,000,000 | ' | ' | 249,000,000 | ' | ' | 465,000,000 | ' | ' | 836,000,000 | ' | ' | 643,000,000 | ' | ' | 1,500,000,000 | ' | ' | ' | ' | ' |
Principal amount of debenture issued to trust | $5,445,000,000 | $10,400,000,000 | $675,000,000 | ' | $498,000,000 | ' | ' | $305,000,000 | ' | ' | $249,000,000 | ' | ' | $257,000,000 | ' | ' | $480,000,000 | ' | ' | $837,000,000 | ' | ' | $644,000,000 | ' | ' | $1,500,000,000 | ' | ' | ' | ' | $5,300,000,000 |
Issue date | ' | ' | 31-Dec-00 | ' | 31-Dec-97 | ' | ' | 31-Dec-97 | ' | ' | 31-Dec-98 | ' | ' | 31-Dec-97 | ' | ' | 31-Dec-04 | ' | ' | 31-Dec-07 | ' | ' | 31-Dec-07 | ' | ' | 31-Dec-10 | ' | ' | ' | ' | ' |
Stated maturity of trust preferred capital securities and debentures | ' | ' | '2030 | ' | '2027 | ' | ' | '2027 | ' | ' | '2028 | ' | ' | '2027 | ' | ' | '2034 | ' | ' | '2037 | ' | ' | '2047 | ' | ' | '2040 | ' | ' | ' | ' | ' |
Earliest redemption date | ' | ' | 'Any time | ' | 'Any time | ' | ' | 'Any time | ' | ' | 'Any time | ' | ' | 'Any time | ' | ' | '2014 | ' | ' | 'Any time | ' | ' | 'Any time | ' | ' | '2015 | ' | ' | ' | ' | ' |
Interest rate of trust preferred capital securities and debentures | ' | ' | 8.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.70% | ' | ' | ' | ' | ' |
Interest rate spread of trust preferred capital securities and debentures | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | 0.55% | ' | ' | 0.63% | ' | ' | 0.55% | ' | ' | 0.95% | ' | ' | 0.95% | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' |
Interest payment/distribution dates | ' | ' | ' | 'Semiannually | ' | 'Quarterly | ' | ' | 'Quarterly | ' | ' | 'Quarterly | ' | ' | 'Quarterly | ' | ' | 'Quarterly | ' | ' | 'Quarterly | ' | ' | 'Quarterly | ' | ' | 'Quarterly | ' | ' | ' | ' |
Preferred_Stock_Details
Preferred Stock (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jan. 22, 2014 | Feb. 06, 2014 | Jan. 30, 2014 |
In Millions, except Share data, unless otherwise specified | Preferred Stock Including Additional Paid in Capital [Member] | Preferred Stock Including Additional Paid in Capital [Member] | Preferred Stock Including Additional Paid in Capital [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I [Member] | Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I [Member] | Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I [Member] | 8.625% Non-Cumulative Perpetual Preferred Stock, Series J [Member] | 8.625% Non-Cumulative Perpetual Preferred Stock, Series J [Member] | 8.625% Non-Cumulative Perpetual Preferred Stock, Series J [Member] | 8.625% Non-Cumulative Perpetual Preferred Stock, Series J [Member] | 5.50% Non-Cumulative Perpetual Preferred Stock, Series O [Member] | 5.50% Non-Cumulative Perpetual Preferred Stock, Series O [Member] | 5.50% Non-Cumulative Perpetual Preferred Stock, Series O [Member] | 5.45% Non-Cumulative Perpetual Preferred Stock, Series P [Member] | 5.45% Non-Cumulative Perpetual Preferred Stock, Series P [Member] | 5.45% Non-Cumulative Perpetual Preferred Stock, Series P [Member] | Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series Q [Member] | Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series Q [Member] | Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series Q [Member] | Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series R [Member] | Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series R [Member] | Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series R [Member] | Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series S [Member] | Non-Cumulative Preferred Stock, Series T [Member] | Non-Cumulative Preferred Stock, Series T [Member] | ||
Earliest date [Member] | Earliest date [Member] | Earliest date [Member] | Earliest date [Member] | Earliest date [Member] | Earliest date [Member] | Preferred Stock Including Additional Paid in Capital [Member] | Preferred Stock Including Additional Paid in Capital [Member] | Preferred Stock Including Additional Paid in Capital [Member] | |||||||||||||||||||||
Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares of preferred stock authorized to issue, in one or more series | 200,000,000 | 200,000,000 | ' | ' | ' | 200,000,000 | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, par value per share | $1 | $1 | ' | ' | ' | $1 | $1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock dividend rate | ' | ' | ' | ' | ' | ' | ' | 7.90% | ' | ' | 8.63% | ' | ' | ' | 5.50% | ' | ' | 5.45% | ' | ' | 5.15% | ' | ' | 6.00% | ' | ' | ' | ' | ' |
Shares | 1,115,750 | 905,750 | ' | ' | ' | 1,115,750 | 905,750 | 600,000 | 600,000 | ' | ' | 0 | 180,000 | ' | 125,750 | 125,750 | ' | 90,000 | 0 | ' | 150,000 | 0 | ' | 150,000 | 0 | ' | ' | ' | ' |
Carrying value (in millions) | $11,158 | $9,058 | ' | ' | ' | $11,158 | $9,058 | $6,000 | $6,000 | ' | ' | $0 | $1,800 | ' | $1,258 | $1,258 | ' | $900 | $0 | ' | $1,500 | $0 | ' | $1,500 | $0 | ' | ' | ' | ' |
Earliest redemption date | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Apr-18 | ' | ' | ' | 1-Sep-13 | ' | ' | 1-Sep-17 | ' | ' | 1-Mar-18 | ' | ' | 1-May-23 | ' | ' | 1-Aug-23 | ' | ' | ' |
Share value and redemption price per share | ' | ' | ' | ' | ' | ' | ' | $10,000 | ' | ' | ' | $10,000 | ' | ' | $10,000 | ' | ' | $10,000 | ' | ' | $10,000 | ' | ' | $10,000 | ' | ' | ' | ' | ' |
Preferred stock dividend rate, variable | ' | ' | ' | ' | ' | ' | ' | 'three-month LIBOR plus 3.47% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'three-month LIBOR plus 3.25% | ' | ' | 'three-month LIBOR plus 3.30% | ' | ' | ' | ' | ' |
Preferred stock dividend rate, variable, description of basis | ' | ' | ' | ' | ' | ' | ' | 'three-month LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'three-month LIBOR | ' | ' | 'three-month LIBOR | ' | ' | ' | ' | ' |
Preferred stock dividend rate, variable, basis spread | ' | ' | ' | ' | ' | ' | ' | 3.47% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.25% | ' | ' | 3.30% | ' | ' | ' | ' | ' |
Issuance of stock | ' | ' | $3,900 | $1,258 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,000 | $75 | $850 |
Common_stock_Details
Common stock (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 2 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 25 Months Ended | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Mar. 13, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 4-May-12 | Mar. 13, 2012 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 18, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Approved Repurchase Program Period Start in 2012 [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Treasury stock, at cost [Member] | Treasury stock, at cost [Member] | Treasury stock, at cost [Member] | Treasury stock, at cost [Member] | Treasury stock, at cost [Member] | Treasury stock, at cost [Member] | JPMorgan Chase & Co. [Member] | JPMorgan Chase & Co. [Member] | JPMorgan Chase & Co. [Member] | JPMorgan Chase & Co. [Member] | JPMorgan Chase & Co. [Member] | JPMorgan Chase & Co. [Member] | |||||
Stock Compensation Plan [Member] | Stock Compensation Plan [Member] | Stock Compensation Plan [Member] | Warrants, each to purchase one share of Common Stock [Member] | Warrants, each to purchase one share of Common Stock [Member] | Warrants, each to purchase one share of Common Stock [Member] | Warrants, each to purchase one share of Common Stock [Member] | Warrants, each to purchase one share of Common Stock [Member] | Warrants, each to purchase one share of Common Stock [Member] | |||||||||||||||||||||
Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | |||||||||||||||||||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares authorized (in shares) | 9,000,000,000 | 9,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value (in dollars per share) | $1 | $1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Common Stock Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issued - balance at January 1 | 4,104,933,895 | ' | 4,104,933,895 | 4,104,933,895 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total issued - balance at December 31 | 4,104,933,895 | ' | 4,104,933,895 | 4,104,933,895 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Treasury Stock Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury - balance at January 1 | -300,981,690 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -300,981,690 | -332,200,000 | -194,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase of treasury stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -96,100,000 | -33,500,000 | -226,900,000 | 0 | -200,000 | -100,000 | ' | ' | ' | ' | ' | ' |
Issued from treasury | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48,300,000 | 65,000,000 | 89,400,000 | 47,100,000 | 63,700,000 | 88,300,000 | ' | ' | ' | ' | ' | ' |
Issued from treasury: Employee stock purchase plans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000 | 1,300,000 | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total treasury - balance at December 31 | -348,825,583 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -348,825,583 | -300,981,690 | -332,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding | 3,756,100,000 | 3,804,000,000 | 3,772,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
U.S. Treasury Capital Purchase Program | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 59,759,399 | 59,762,699 | 78,233,999 | ' | ' | ' |
Exercise price for US Treasury Warrant to purchase shares of the Firm's common stock | 42.42 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock repurchase program, shares authorized | ' | ' | ' | ' | $15,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining authorized repurchase amount | 8,600,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Equity Repurchase Program | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total shares of common stock repurchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 96,000,000 | 31,000,000 | 229,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate common stock repurchases | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,789,000,000 | 1,329,000,000 | 8,827,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total warrants repurchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 18,000,000 | 10,000,000 | ' | ' | ' |
Aggregate warrant repurchases | ' | ' | ' | ' | ' | ($24,000,000) | ($262,000,000) | ($125,000,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $238,000,000 | $122,000,000 |
Common stock quarterly dividend rate per share | ' | ' | ' | ' | ' | ' | ' | ' | $0.30 | $0.25 | $0.38 | $0.30 | $0.25 | ' | ' | ' | $0.05 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock capital shares reserved for future issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 290,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share, Basic, Two Class Method [Abstract] | ' | ' | ' |
Net income | $17,923 | $21,284 | $18,976 |
Less: Preferred stock dividends | 805 | 653 | 629 |
Net income applicable to common equity | 17,118 | 20,631 | 18,347 |
Less: Dividends and undistributed earnings allocated to participating securities | 525 | 754 | 779 |
Net income applicable to common stockholders | 16,593 | 19,877 | 17,568 |
Total weighted-average basic shares outstanding | 3,782.40 | 3,809.40 | 3,900.40 |
Net income per share | $4.39 | $5.22 | $4.50 |
Earnings Per Share, Diluted, Two Class Method [Abstract] | ' | ' | ' |
Net income applicable to common stockholders | $16,593 | $19,877 | $17,568 |
Total weighted-average basic shares outstanding | 3,782.40 | 3,809.40 | 3,900.40 |
Add: Employee stock options, SARs and warrants | 32.5 | 12.8 | 19.9 |
Total weighted-average diluted shares outstanding | 3,814.90 | 3,822.20 | 3,920.30 |
Net income per share | $4.35 | $5.20 | $4.48 |
Earnings Per Share, Diluted, Other Disclosures [Abstract] | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share (in shares) | 6 | 148 | 133 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income/(Loss) - Rollforward (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Beginning Balance | $4,102,000,000 | ' | ' |
Net change, unrealized gains/(losses) on AFS securities | -4,070,000,000 | 3,303,000,000 | 1,067,000,000 |
Net change, translation adjustments, net of hedges | -41,000,000 | -69,000,000 | -279,000,000 |
Net change, cash flow hedges | -259,000,000 | 69,000,000 | -155,000,000 |
Net change, defined benefit pension and OPEB plans | 1,467,000,000 | -145,000,000 | -690,000,000 |
Net change, accumulated other comprehensive income/(loss) | -2,903,000,000 | 3,158,000,000 | -57,000,000 |
Ending Balance | 1,199,000,000 | 4,102,000,000 | ' |
Accumulated other comprehensive income (loss) - supplemental information | ' | ' | ' |
After-tax unrealized losses not related to credit on debt securities | 0 | 0 | -56,000,000 |
Unrealized gains/(losses) on AFS securities [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Beginning Balance | 6,868,000,000 | 3,565,000,000 | 2,498,000,000 |
Net change, unrealized gains/(losses) on AFS securities | -4,070,000,000 | 3,303,000,000 | 1,067,000,000 |
Ending Balance | 2,798,000,000 | 6,868,000,000 | 3,565,000,000 |
Translation adjustments, net of hedges [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Beginning Balance | -95,000,000 | -26,000,000 | 253,000,000 |
Net change, translation adjustments, net of hedges | -41,000,000 | -69,000,000 | -279,000,000 |
Ending Balance | -136,000,000 | -95,000,000 | -26,000,000 |
Cash flow hedges [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Beginning Balance | 120,000,000 | 51,000,000 | 206,000,000 |
Net change, cash flow hedges | -259,000,000 | 69,000,000 | -155,000,000 |
Ending Balance | -139,000,000 | 120,000,000 | 51,000,000 |
Defined benefit pension and OPEB plans [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Beginning Balance | -2,791,000,000 | -2,646,000,000 | -1,956,000,000 |
Net change, defined benefit pension and OPEB plans | 1,467,000,000 | -145,000,000 | -690,000,000 |
Ending Balance | -1,324,000,000 | -2,791,000,000 | -2,646,000,000 |
Accumulated other comprehensive income/(loss) [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Beginning Balance | 4,102,000,000 | 944,000,000 | 1,001,000,000 |
Net change, accumulated other comprehensive income/(loss) | -2,903,000,000 | 3,158,000,000 | -57,000,000 |
Ending Balance | $1,199,000,000 | $4,102,000,000 | $944,000,000 |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income/(Loss) - Components of Other Comprehensive Income/(Loss) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Unrealized gains/(losses) on AFS securities: | ' | ' | ' |
Net change, unrealized gains/(losses) on AFS securities | ($4,070) | $3,303 | $1,067 |
Translation adjustments: | ' | ' | ' |
Net change after tax | -41 | -69 | -279 |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax [Abstract] | ' | ' | ' |
Net change | -259 | 69 | -155 |
Defined benefit pension and OPEB plans: | ' | ' | ' |
Net change, defined benefit pension and OPEB plans | 1,467 | -145 | -690 |
Total other comprehensive income/(loss), after-tax | -2,903 | 3,158 | -57 |
Unrealized gains/(losses) on AFS securities [Member] | ' | ' | ' |
Unrealized gains/(losses) on AFS securities: | ' | ' | ' |
Net unrealized gains/(losses) arising during the period before tax | -5,987 | 7,521 | 3,361 |
Net unrealized gains/(losses) arising during the period tax effect | 2,323 | -2,930 | -1,322 |
Net unrealized gains/(losses) arising during the period after tax | -3,664 | 4,591 | 2,039 |
Reclassification adjustment for realized (gains)/losses included in net income before tax | -667 | -2,110 | -1,593 |
Reclassification adjustment for realized (gains)/losses included in net income tax effect | 261 | 822 | 621 |
Reclassification adjustment for realized (gains)/losses included in net income after tax | -406 | -1,288 | -972 |
Net change before tax | -6,654 | 5,411 | 1,768 |
Net change tax effect | 2,584 | -2,108 | -701 |
Net change, unrealized gains/(losses) on AFS securities | -4,070 | 3,303 | 1,067 |
Translation adjustments, net of hedges [Member] | ' | ' | ' |
Translation adjustments: | ' | ' | ' |
Translation before tax | -807 | -26 | -672 |
Translation tax effect | 295 | 8 | 255 |
Translation after tax | -512 | -18 | -417 |
Hedges before tax | 773 | -82 | 226 |
Hedges tax effect | -302 | 31 | -88 |
Hedges after tax | 471 | -51 | 138 |
Net change before tax | -34 | -108 | -446 |
Net change tax effect | -7 | 39 | 167 |
Net change after tax | -41 | -69 | -279 |
Cash flow hedges [Member] | ' | ' | ' |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax [Abstract] | ' | ' | ' |
Net unrealized gains/(losses) arising during the period before tax | -525 | 141 | 50 |
Net unrealized gains/(losses) arising during the period tax effect | 206 | -55 | -19 |
Net unrealized gains/(losses) arising during the period after tax | -319 | 86 | 31 |
Reclassification adjustment for realized (gains)/losses included in net income before tax | 101 | -28 | -301 |
Reclassification adjustment for realized (gains)/losses included in net income tax effect | -41 | 11 | 115 |
Reclassification adjustment for realized (gains)/losses included in net income after tax | 60 | -17 | -186 |
Net change before tax | -424 | 113 | -251 |
Net change tax effect | 165 | -44 | 96 |
Net change | -259 | 69 | -155 |
Defined benefit pension and OPEB plans [Member] | ' | ' | ' |
Defined benefit pension and OPEB plans: | ' | ' | ' |
Prior service credits arising during the period before tax | 0 | 6 | 0 |
Prior service credits arising during the period tax effect | 0 | -2 | 0 |
Prior service credits arising during the period after tax | 0 | 4 | 0 |
Net gains/(losses) arising during the period before tax | 2,055 | -537 | -1,290 |
Net gains/(losses) arising during the period tax effect | -750 | 228 | 502 |
Net gains/(losses) arising during the period after tax | 1,305 | -309 | -788 |
Reclassification adjustments included in net income, amortization of net loss before tax | 321 | 324 | 214 |
Reclassification adjustments included in net income, amortization of net loss tax effect | -124 | -126 | -83 |
Reclassification adjustments included in net income, amortization of net loss after tax | 197 | 198 | 131 |
Reclassification adjustments included in net income, prior service costs/(credits) before tax | -43 | -41 | -52 |
Reclassification adjustments included in net income, prior service costs/(credits) tax effect | 17 | 16 | 20 |
Reclassification adjustments included in net income, prior service costs/(credits) after tax | -26 | -25 | -32 |
Foreign exchange and other before tax | -14 | -21 | -1 |
Foreign exchange and other tax effect | 5 | 8 | 0 |
Foreign exchange and other after tax | -9 | -13 | -1 |
Net change before tax | 2,319 | -269 | -1,129 |
Net change tax effect | -852 | 124 | 439 |
Net change, defined benefit pension and OPEB plans | 1,467 | -145 | -690 |
Accumulated other comprehensive income/(loss) [Member] | ' | ' | ' |
Defined benefit pension and OPEB plans: | ' | ' | ' |
Total other comprehensive income/(loss) before tax | -4,793 | 5,147 | -58 |
Total other comprehensive income/(loss) tax effect | 1,890 | -1,989 | 1 |
Total other comprehensive income/(loss), after-tax | ($2,903) | $3,158 | ($57) |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Effective Income Tax Rate (Details 1) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Reconciliation of the applicable statutory U.S. income tax rate to the effective tax rate | ' | ' | ' |
Statutory U.S. federal tax rate | 35.00% | 35.00% | 35.00% |
Increase/(decrease) in tax rate resulting from: | ' | ' | ' |
U.S. state and local income taxes, net of U.S. federal income tax benefit | 2.20% | 1.60% | 1.60% |
Tax-exempt income | -3.10% | -2.90% | -2.10% |
Non-U.S. subsidiary earnings | -4.90% | -2.40% | -2.30% |
Business tax credits | -5.40% | -4.20% | -4.00% |
Nondeductible legal expense | 8.00% | -0.20% | 0.90% |
Other, net | -1.00% | -0.50% | 0.00% |
Effective tax rate | 30.80% | 26.40% | 29.10% |
Income_Taxes_Components_of_Inc
Income Taxes - Components of Income Tax Expense/(Benefit) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Current income tax expense | ' | ' | ' |
U.S. federal | ($1,316,000,000) | $3,225,000,000 | $3,719,000,000 |
Non-U.S. | 1,308,000,000 | 1,782,000,000 | 1,183,000,000 |
U.S. state and local | -4,000,000 | 1,496,000,000 | 1,178,000,000 |
Total current income tax expense/(benefit) | -12,000,000 | 6,503,000,000 | 6,080,000,000 |
Deferred income tax expense/ (benefit) | ' | ' | ' |
U.S. federal | 7,080,000,000 | 2,238,000,000 | 2,109,000,000 |
Non-U.S. | 10,000,000 | -327,000,000 | 102,000,000 |
U.S. state and local | 913,000,000 | -781,000,000 | -518,000,000 |
Total deferred income tax expense/(benefit) | 8,003,000,000 | 1,130,000,000 | 1,693,000,000 |
Total income tax expense | 7,991,000,000 | 7,633,000,000 | 7,773,000,000 |
Components of income tax expense/(benefit), supplemental information | ' | ' | ' |
Effective tax rate | 30.80% | 26.40% | 29.10% |
Tax benefits recorded as a result of tax audit resolutions | 531,000,000 | 200,000,000 | 76,000,000 |
Income tax effects allocated directly to equity | 2,100,000,000 | -1,900,000,000 | 927,000,000 |
Pretax undistributed foreign earnings of subsidiaries | 3,400,000,000 | ' | ' |
Cumulative pretax undistributed foreign earnings of subsidiaries | 28,500,000,000 | ' | ' |
Undistributed foreign earnings, deferred tax liabilities | 4,705,000,000 | 3,582,000,000 | ' |
Tax expense applicable to securities gains and losses | 261,000,000 | 822,000,000 | 617,000,000 |
Pro Forma [Member] | ' | ' | ' |
Components of income tax expense/(benefit), supplemental information | ' | ' | ' |
Undistributed foreign earnings, deferred tax liabilities | $6,400,000,000 | ' | ' |
Income_Taxes_Deferred_Tax_Asse
Income Taxes - Deferred Tax Assets and Liabilities (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Deferred tax assets | ' | ' |
Allowance for loan losses | $6,593 | $8,712 |
Employee benefits | 4,468 | 4,308 |
Allowance expenses and other | 9,179 | 12,393 |
Non-U.S. operations | 5,493 | 3,537 |
Tax attribute carryforwards | 748 | 1,062 |
Gross deferred tax assets | 26,481 | 30,012 |
Valuation allowance | -724 | -689 |
Deferred tax assets, net of valuation allowance | 25,757 | 29,323 |
Deferred tax liabilities | ' | ' |
Depreciation and amortization | 3,196 | 2,563 |
Mortgage servicing rights, net of hedges | 5,882 | 5,336 |
Leasing transactions | 2,352 | 2,242 |
Non-U.S operations | 4,705 | 3,582 |
Other, net | 3,459 | 4,340 |
Gross deferred tax liabilities | 19,594 | 18,063 |
Net deferred tax assets | 6,163 | 11,260 |
Internal Revenue Service (IRS) [Member] | ' | ' |
Deferred Tax Assets and Liabilities - supplemental information | ' | ' |
Non-U.S. subsidiary net operating loss carryforward | 1,500 | ' |
State and Local Jurisdiction [Member] | ' | ' |
Deferred Tax Assets and Liabilities - supplemental information | ' | ' |
Non-U.S. subsidiary net operating loss carryforward | 156 | ' |
Foreign Country [Member] | ' | ' |
Deferred Tax Assets and Liabilities - supplemental information | ' | ' |
Non-U.S. subsidiary net operating loss carryforward | $203 | ' |
Income_Taxes_Unrecognized_Tax_
Income Taxes - Unrecognized Tax Benefits (Details 3) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Reconciliation of the beginning and ending amount of unrecognized tax benefits | ' | ' | ' |
Balance at January 1, | $7,200,000,000 | $7,200,000,000 | $7,767,000,000 |
Increases based on tax positions related to the current period | 542,000,000 | 680,000,000 | 516,000,000 |
Decreases based on tax positions related to the current period | 0 | 0 | -110,000,000 |
Increases based on tax positions related to prior periods | 88,000,000 | 234,000,000 | 496,000,000 |
Decreases based on tax positions related to prior periods | -2,200,000,000 | -853,000,000 | -1,433,000,000 |
Decreases related to settlements with taxing authorities | -53,000,000 | -50,000,000 | -16,000,000 |
Decreases related to a lapse of applicable statute of limitations | 0 | -42,000,000 | -31,000,000 |
Balance at December 31, | 5,500,000,000 | 7,200,000,000 | 7,200,000,000 |
Income tax expense, penalties and interest expense | ' | ' | ' |
Penalties and interest expense | -184,000,000 | 147,000,000 | 184,000,000 |
Penalties and interest accrued | 1,200,000,000 | 1,900,000,000 | ' |
Unrecognized tax benefits that would impact effective tax rate | $3,700,000,000 | $4,200,000,000 | $4,000,000,000 |
Income_Taxes_US_and_nonUS_comp
Income Taxes - US and non-US components (Details 4) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
U.S. and non-U.S. components of income before income tax expense/(benefit) and extraordinary gain | ' | ' | ' |
U.S. | $17,229 | $24,895 | $16,336 |
Non-U.S. | 8,685 | 4,022 | 10,413 |
Income before income tax expense | $25,914 | $28,917 | $26,749 |
Restrictions_on_Cash_and_Inter1
Restrictions on Cash and Intercompany Funds Transfers (Details) (USD $) | 12 Months Ended | |
In Billions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Reserve Balances Deposited with Federal Reserve Banks [Abstract] | ' | ' |
Average amount of reserve balances deposited by the Firm's bank subsidiaries with various Federal Reserve Banks | $5.30 | $5.60 |
Disclosure of Restrictions on Dividends, Loans and Advances Disclosure [Abstract] | ' | ' |
Federal Restriction on Secured Borrowings from Subsidiaries, Per Loan, Portion of Subsidiary Total Capital, Percentage | 10.00% | ' |
Federal Restriction on Secured Borrowings from Subsidiaries, All Loans, Portion of Subsidiary Total Capital, Percentage | 20.00% | ' |
Cash and Securities Segregated under Federal and Other Regulations Disclosures [Abstract] | ' | ' |
Amount of cash that was segregated in special bank accounts for the benefit of securities and futures brokerage customers | 17.2 | 25.1 |
Amount of securities at fair value that were segregated in special bank accounts for the benefit of securities and futures brokerage customers | 1.5 | 0.7 |
Restricted cash and cash equivalents | 3.9 | 3.4 |
Bank and Bank Holding Company Subsidiaries [Member] | ' | ' |
Disclosure of Restrictions on Dividends, Loans and Advances Disclosure [Abstract] | ' | ' |
Amount Available for Dividend Distribution by Banking Subsidiaries without Prior Approval from Regulatory Agency | $29.80 | ' |
Regulatory_Capital_Details
Regulatory Capital (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
Regulatory capital | ' | ' | ' |
Tier 1 capital | $165,663,000,000 | ' | $160,002,000,000 |
Total capital | 199,286,000,000 | ' | 194,036,000,000 |
Capital ratios | ' | ' | ' |
Tier 1 capital - Well capitalized ratio | 6.00% | ' | ' |
Tier 1 capital - Minimum capital ratio | 4.00% | ' | ' |
Total capital - Well-capitalized ratio | 10.00% | ' | ' |
Total capital - Minumum capital ratio | 8.00% | ' | ' |
Tier 1 leverage - Well-capitalized ratio | 5.00% | ' | ' |
Tier 1 leverage - Minimum capital ratio | 3.00% | ' | ' |
Regulatory capital, assets and risk based ratios - supplemental information [Abstract] | ' | ' | ' |
Trust preferred capital debt securities | 5,445,000,000 | ' | 10,400,000,000 |
Adjustments to Capital for Deferred Tax Liabilities [Abstract] | ' | ' | ' |
Adjustments to Capital for Deferred Tax Liabilities Resulting from Nontaxable Business Combinations | 192,000,000 | ' | 291,000,000 |
Adjustments to Capital for Deferred Tax Liabilities Resulting from Tax-deductible Goodwill | 2,800,000,000 | ' | 2,500,000,000 |
Possibility One [Member] | ' | ' | ' |
Capital ratios | ' | ' | ' |
Tier 1 leverage - Minimum capital ratio | 3.00% | ' | ' |
Possibility Two [Member] | ' | ' | ' |
Capital ratios | ' | ' | ' |
Tier 1 leverage - Minimum capital ratio | 4.00% | ' | ' |
JPMorgan Chase & Co. [Member] | ' | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' |
Impact to Risk-weighted Assets Upon Implementation of Basel 2.5 Final Market Risk Rule | ' | 150,000,000,000 | ' |
Impact to Tier 1 Capital Ratio Upon Implementation of Basel 2.5 Final Market Risk Rule | ' | -1.40% | ' |
Impact to Total Capital Ratio Upon Implementation of Basel 2.5 Final Market Risk Rule | ' | -1.60% | ' |
Regulatory capital | ' | ' | ' |
Tier 1 capital | 165,663,000,000 | ' | 160,002,000,000 |
Total capital | 199,286,000,000 | ' | 194,036,000,000 |
Assets | ' | ' | ' |
Risk-weighted assets | 1,387,863,000,000 | ' | 1,270,378,000,000 |
Adjusted average assets | 2,343,713,000,000 | ' | 2,243,242,000,000 |
Capital ratios | ' | ' | ' |
Tier 1 capital | 11.90% | ' | 12.60% |
Total capital | 14.40% | ' | 15.30% |
Tier 1 leverage | 7.10% | ' | 7.10% |
Regulatory capital, assets and risk based ratios - supplemental information [Abstract] | ' | ' | ' |
Trust preferred capital debt securities | 5,300,000,000 | ' | ' |
Tier 1 capital, excluding trust preferred capital debt securities | 160,400,000,000 | ' | ' |
Tier 1 capital ratio, excluding trust preferred capital debt securities | 11.60% | ' | ' |
Risk-weighted assets, off-balance sheet | 315,900,000,000 | ' | 304,500,000,000 |
JPMorgan Chase Bank, N.A. | ' | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' |
Impact to Risk-weighted Assets Upon Implementation of Basel 2.5 Final Market Risk Rule | ' | 140,000,000,000 | ' |
Impact to Tier 1 Capital Ratio Upon Implementation of Basel 2.5 Final Market Risk Rule | ' | -1.30% | ' |
Impact to Total Capital Ratio Upon Implementation of Basel 2.5 Final Market Risk Rule | ' | -1.50% | ' |
Regulatory capital | ' | ' | ' |
Tier 1 capital | 139,727,000,000 | ' | 111,827,000,000 |
Total capital | 165,496,000,000 | ' | 146,870,000,000 |
Assets | ' | ' | ' |
Risk-weighted assets | 1,171,574,000,000 | ' | 1,094,155,000,000 |
Adjusted average assets | 1,900,770,000,000 | ' | 1,815,816,000,000 |
Capital ratios | ' | ' | ' |
Tier 1 capital | 11.90% | ' | 10.20% |
Total capital | 14.10% | ' | 13.40% |
Tier 1 leverage | 7.40% | ' | 6.20% |
Regulatory capital, assets and risk based ratios - supplemental information [Abstract] | ' | ' | ' |
Trust preferred capital debt securities | 600,000,000 | ' | ' |
Tier 1 capital, excluding trust preferred capital debt securities | 139,100,000,000 | ' | ' |
Tier 1 capital ratio, excluding trust preferred capital debt securities | 11.90% | ' | ' |
Risk-weighted assets, off-balance sheet | 304,000,000,000 | ' | 297,100,000,000 |
Chase Bank USA, N.A. | ' | ' | ' |
Regulatory capital | ' | ' | ' |
Tier 1 capital | 12,956,000,000 | ' | 9,648,000,000 |
Total capital | 16,389,000,000 | ' | 13,131,000,000 |
Assets | ' | ' | ' |
Risk-weighted assets | 100,990,000,000 | ' | 103,593,000,000 |
Adjusted average assets | 109,731,000,000 | ' | 103,688,000,000 |
Capital ratios | ' | ' | ' |
Tier 1 capital | 12.80% | ' | 9.30% |
Total capital | 16.20% | ' | 12.70% |
Tier 1 leverage | 11.80% | ' | 9.30% |
Regulatory capital, assets and risk based ratios - supplemental information [Abstract] | ' | ' | ' |
Trust preferred capital debt securities | 0 | ' | ' |
Risk-weighted assets, off-balance sheet | $14,000,000 | ' | $16,000,000 |
Regulatory_Capital_Reconcillia
Regulatory Capital - Reconcilliation of Equity to Capital (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Tier 1 capital | ' | ' |
Total stockholders' equity | $211,178 | $204,069 |
Effect of certain items in accumulated other comprehensive income/(loss) excluded from Tier 1 capital | -1,337 | -4,198 |
Qualifying hybrid securities and noncontrolling interests | 5,618 | 10,608 |
Less: Goodwill | 45,320 | 45,663 |
Less: Other intangible assets | 2,012 | 2,311 |
Less: Fair value DVA on structured notes and derivative liabilities related to the Firm's credit quality | 1,300 | 1,577 |
Less: Investments in certain subsidiaries and other | 1,164 | 926 |
Total Tier 1 capital | 165,663 | 160,002 |
Tier 2 capital | ' | ' |
Long-term debt and other instruments qualifying as Tier 2 | 16,695 | 18,061 |
Qualifying allowance for credit losses | 16,969 | 15,995 |
Other Adjustments to Tier Two Risk Based Capital | -41 | -22 |
Total Tier 2 capital | 33,623 | 34,034 |
Total qualifying capital | $199,286 | $194,036 |
OffBalance_Sheet_LendingRelate3
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments (Details) (USD $) | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Lending-Related Commitments [Member] | Consumer Loan | Consumer Loan | Consumer Loan | Consumer Loan | Consumer Loan | Consumer Loan | Consumer loan excluding credit card [Member] | Consumer loan excluding credit card [Member] | Consumer loan excluding credit card [Member] | Consumer loan excluding credit card [Member] | Consumer loan excluding credit card [Member] | Consumer loan excluding credit card [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - senior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Home equity - junior lien [Member] | Prime / Alt-A & Option AR [Member] | Prime / Alt-A & Option AR [Member] | Prime / Alt-A & Option AR [Member] | Prime / Alt-A & Option AR [Member] | Prime / Alt-A & Option AR [Member] | Prime / Alt-A & Option AR [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Subprime mortgage [Member] | Auto [Member] | Auto [Member] | Auto [Member] | Auto [Member] | Auto [Member] | Auto [Member] | Business banking [Member] | Business banking [Member] | Business banking [Member] | Business banking [Member] | Business banking [Member] | Business banking [Member] | Student and other [Member] | Student and other [Member] | Student and other [Member] | Student and other [Member] | Student and other [Member] | Student and other [Member] | Credit Card Loan [Member] | Credit Card Loan [Member] | Credit Card Loan [Member] | Credit Card Loan [Member] | Credit Card Loan [Member] | Credit Card Loan [Member] | Wholesale Loan [Member] | Wholesale Loan [Member] | Wholesale Loan [Member] | Wholesale Loan [Member] | Wholesale Loan [Member] | Wholesale Loan [Member] | Other unfunded commitments to extend credit [Member] | Other unfunded commitments to extend credit [Member] | Other unfunded commitments to extend credit [Member] | Other unfunded commitments to extend credit [Member] | Other unfunded commitments to extend credit [Member] | Other unfunded commitments to extend credit [Member] | Standby letters of credit and other financial guarantees [Member] | Standby letters of credit and other financial guarantees [Member] | Standby letters of credit and other financial guarantees [Member] | Standby letters of credit and other financial guarantees [Member] | Standby letters of credit and other financial guarantees [Member] | Standby letters of credit and other financial guarantees [Member] | Unused advised lines of credit [Member] | Unused advised lines of credit [Member] | Unused advised lines of credit [Member] | Unused advised lines of credit [Member] | Unused advised lines of credit [Member] | Unused advised lines of credit [Member] | Other letters of credit [Member] | Other letters of credit [Member] | Other letters of credit [Member] | Other letters of credit [Member] | Other letters of credit [Member] | Other letters of credit [Member] | Securities lending indemnification agreements and guarantees [Member] | Securities lending indemnification agreements and guarantees [Member] | Securities lending indemnification agreements and guarantees [Member] | Securities lending indemnification agreements and guarantees [Member] | Securities lending indemnification agreements and guarantees [Member] | Securities lending indemnification agreements and guarantees [Member] | Derivatives qualifying as guarantees [Member] | Derivatives qualifying as guarantees [Member] | Derivatives qualifying as guarantees [Member] | Derivatives qualifying as guarantees [Member] | Derivatives qualifying as guarantees [Member] | Derivatives qualifying as guarantees [Member] | Unsettled reverse repurchase and securities borrowing agreements [Member] | Unsettled reverse repurchase and securities borrowing agreements [Member] | Unsettled reverse repurchase and securities borrowing agreements [Member] | Unsettled reverse repurchase and securities borrowing agreements [Member] | Unsettled reverse repurchase and securities borrowing agreements [Member] | Unsettled reverse repurchase and securities borrowing agreements [Member] | Loans sold with recourse | Loans sold with recourse | Other guarantees and commitments [Member] | Other guarantees and commitments [Member] | Other guarantees and commitments [Member] | Other guarantees and commitments [Member] | Other guarantees and commitments [Member] | Other guarantees and commitments [Member] | Letters Of Credit Hedged By Derivative Transactions [Member] | Letters Of Credit Hedged By Derivative Transactions [Member] | Warranty Reserves [Member] | Warranty Reserves [Member] | Warranty Reserves [Member] | Warranty Reserves [Member] | ||||
Credit Card Loan [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Expires in one year or less [Member] | Expires after one year through three years [Member] | Expires after three years through five years [Member] | Expires after five years [Member] | Residential mortgage [Member] | Residential mortgage [Member] | Residential mortgage [Member] | Residential mortgage [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||
Days Past Due, 60 or More [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit close criteria, period past due | ' | ' | ' | ' | ' | ' | ' | '60 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Off-balance sheet lending-related financial commitments, contractual amount | $1,031,672,000,000 | $1,027,988,000,000 | $975,662,000,000 | $738,272,000,000 | $137,152,000,000 | $139,729,000,000 | $16,519,000,000 | ' | $585,440,000,000 | $593,174,000,000 | $558,971,000,000 | $12,169,000,000 | $9,287,000,000 | $5,013,000,000 | $56,057,000,000 | $60,156,000,000 | $29,588,000,000 | $12,169,000,000 | $9,287,000,000 | $5,013,000,000 | $13,158,000,000 | $15,180,000,000 | $2,471,000,000 | $4,411,000,000 | $4,202,000,000 | $2,074,000,000 | $17,837,000,000 | $21,796,000,000 | $3,918,000,000 | $6,908,000,000 | $4,865,000,000 | $2,146,000,000 | $4,817,000,000 | $4,107,000,000 | $4,817,000,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $8,309,000,000 | $7,185,000,000 | $7,992,000,000 | $191,000,000 | $115,000,000 | $11,000,000 | $11,251,000,000 | $11,092,000,000 | $10,282,000,000 | $548,000,000 | $101,000,000 | $320,000,000 | $685,000,000 | $796,000,000 | $108,000,000 | $111,000,000 | $4,000,000 | $462,000,000 | $529,383,000,000 | $533,018,000,000 | $529,383,000,000 | $0 | $0 | $0 | $446,232,000,000 | $434,814,000,000 | $179,301,000,000 | $124,983,000,000 | $130,442,000,000 | $11,506,000,000 | $246,495,000,000 | $243,225,000,000 | $61,459,000,000 | $79,519,000,000 | $97,139,000,000 | $8,378,000,000 | $92,723,000,000 | $100,929,000,000 | $25,223,000,000 | $32,331,000,000 | $32,773,000,000 | $2,396,000,000 | $101,994,000,000 | $85,087,000,000 | $88,443,000,000 | $12,411,000,000 | $423,000,000 | $717,000,000 | $5,020,000,000 | $5,573,000,000 | $4,176,000,000 | $722,000,000 | $107,000,000 | $15,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Off-balance sheet lending-related financial commitments, carrying value | 1,385,000,000 | 1,033,000,000 | ' | ' | ' | ' | ' | ' | 8,000,000 | 7,000,000 | ' | ' | ' | ' | 8,000,000 | 7,000,000 | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | 1,000,000 | 1,000,000 | ' | ' | ' | ' | 7,000,000 | 6,000,000 | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | 1,377,000,000 | 1,026,000,000 | ' | ' | ' | ' | 432,000,000 | 377,000,000 | ' | ' | ' | ' | 943,000,000 | 647,000,000 | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | 2,000,000 | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other guarantees and commitments, contractual amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 169,709,000,000 | 166,493,000,000 | 169,709,000,000 | 0 | 0 | 0 | 56,274,000,000 | 61,738,000,000 | 1,922,000,000 | 765,000,000 | 16,061,000,000 | 37,526,000,000 | 38,211,000,000 | 34,871,000,000 | 38,211,000,000 | 0 | 0 | 0 | ' | ' | 6,786,000,000 | 6,780,000,000 | 654,000,000 | 256,000,000 | 1,484,000,000 | 4,392,000,000 | 4,500,000,000 | 4,500,000,000 | ' | ' | ' | ' |
Guarantor obligations, current carrying value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 72,000,000 | 42,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -99,000,000 | -75,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Guarantor Obligations and Commitments, Current Carrying Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for lending-related commitments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 263,000,000 | 282,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 681,000,000 | 2,811,000,000 | 3,557,000,000 | 3,285,000,000 |
Indemnification Agreements, Loan Sale and Securitization, Loans Sold with Recourse: Carrying Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 131,000,000 | 141,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indemnification Agreements Loan Sale And Securitization Loans Sold With Recourse Contractual Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,692,000,000 | 9,305,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Off Balance Sheet Lending Related Commitments Wholesale Contractual Amount Net Of Risk Participations Other Unfunded Commitments To Extend Credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 476,000,000 | 473,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Off balance sheet Lending related commitments Wholesale Contractual amount Net of Risk Participations Standby letters of credit and other financial guarantees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,800,000,000 | 16,600,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Off balance sheet Lending related commitments Wholesale Contractual amount Net of Risk Participations Other letters of credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 622,000,000 | 690,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Enhancements and Bond and Commercial Paper Liquidity Commitments to US States and Municipalities Hospitals and Other Not For Profit Entities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,900,000,000 | 21,300,000,000 | ' | ' | ' | ' | 17,200,000,000 | 23,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Standby Letters of Credit, Unissued Commitments | 42,800,000,000 | 44,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indemnification Agreement Securities Lending Guarantees Collateral Held In Support Of | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 176,400,000,000 | 165,100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unsettled forward starting reverse repurchase and securities borrowing agreements | 9,900,000,000 | 13,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unsettled reverse repurchase and securities borrowing agreements with regular way settlement periods | 28,300,000,000 | 21,700,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unfunded Commitments Investments Private Equity Funds Third Party | 215,000,000 | 370,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unfunded Commitments Investments Other Equity Investments | 1,900,000,000 | 1,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments Valued at Net Asset Value, Unfunded Commitments, Investments, Fair Value | 184,000,000 | 333,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitments To Extend Credit Leveraged And Acquisition Finance Activities | 18,300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average balances of U.S. tri-party repurchases | $307,000,000,000 | $370,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
OffBalance_Sheet_LendingRelate4
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments - Standby Letters of Credit and Other Financial Guarantees (Details1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Standby and Other Letters of Credit [Member] | Standby and Other Letters of Credit [Member] | Standby letters of credit and other financial guarantees [Member] | Standby letters of credit and other financial guarantees [Member] | Other letters of credit [Member] | Other letters of credit [Member] | Derivatives Qualifying As Guarantees [Member] | Derivatives Qualifying As Guarantees [Member] | ||||
Standby letters of credit and other financial guarantees and other letters of credit [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Standby and other letters of credit, carrying value | ' | ' | ' | $945,000,000 | $649,000,000 | ' | ' | ' | ' | ' | ' |
Standby and other letters of credit, allowance | ' | ' | ' | 265,000,000 | 284,000,000 | ' | ' | ' | ' | ' | ' |
Guarantor obligations, current carrying value | ' | ' | ' | 680,000,000 | 365,000,000 | ' | ' | ' | ' | 72,000,000 | 42,000,000 |
Standby Letters of Credit and Other Financial Guarantees, Internal Credit Rating, Investment Grade | ' | ' | ' | ' | ' | 69,109,000,000 | 77,081,000,000 | 3,939,000,000 | 3,998,000,000 | ' | ' |
Standby Letters of Credit and Other Financial Guarantees, Internal Credit Rating, Non Investment Grade | ' | ' | ' | ' | ' | 23,614,000,000 | 23,848,000,000 | 1,081,000,000 | 1,575,000,000 | ' | ' |
Total lending-related commitments | 1,031,672,000,000 | 1,027,988,000,000 | 975,662,000,000 | ' | ' | 92,723,000,000 | 100,929,000,000 | 5,020,000,000 | 5,573,000,000 | ' | ' |
Valuation Allowances and Reserves, Balance | ' | ' | ' | ' | ' | 263,000,000 | 282,000,000 | 2,000,000 | 2,000,000 | ' | ' |
Standby Letters of Credit, Collateral Held | ' | ' | ' | ' | ' | 40,410,000,000 | 42,654,000,000 | ' | ' | ' | ' |
Other Letters of Credit, Collateral Held | ' | ' | ' | ' | ' | ' | ' | 1,473,000,000 | 1,145,000,000 | ' | ' |
Percentage of Cash or Liquid Collateral Relative to Value of Securities on Loan | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' |
Derivatives qualifying as guarantees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other guarantees and commitments, contractual amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56,274,000,000 | 61,738,000,000 |
Derivative, Notional Amount | 70,430,000,000,000 | 69,328,000,000,000 | ' | ' | ' | ' | ' | ' | ' | 27,000,000,000 | 26,500,000,000 |
Derivatives Maximum Exposure To Loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,800,000,000 | 2,800,000,000 |
Derivative Qualifying As Guarantees Payables | ' | ' | ' | ' | ' | ' | ' | ' | ' | 109,000,000 | 122,000,000 |
Derivative Qualifying As Guarantees Receivables | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37,000,000 | 80,000,000 |
Unsettled forward starting reverse repurchase and securities borrowing agreements | 9,900,000,000 | 13,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unsettled reverse repurchase and securities borrowing agreements with regular way settlement periods | $28,300,000,000 | $21,700,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
OffBalance_Sheet_LendingRelate5
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments - Loan Sales- and Securitization-Related Indemnifications (Details2) (USD $) | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 25, 2013 | Dec. 31, 2013 | Nov. 15, 2013 | Nov. 15, 2013 | Dec. 31, 2013 | |
Days Past Due, 60 or More [Member] | Loans Sold With Recourse [Member] | Loans Sold With Recourse [Member] | Warranty Reserves [Member] | Warranty Reserves [Member] | Warranty Reserves [Member] | Repurchase Make-Whole Settlements [Member] | Repurchase Make-Whole Settlements [Member] | Repurchase Make-Whole Settlements [Member] | Reserves for New Mortgage Loans Sold During the Period [Member] | Reserves for New Mortgage Loans Sold During the Period [Member] | Reserves for New Mortgage Loans Sold During the Period [Member] | Mortgage Backed Securities Litigation and Regulatory Investigations [Member] | Mortgage Backed Securities Litigation and Regulatory Investigations [Member] | Mortgage Backed Securities Litigation Related to MBS Offerings Issued By JPMC and Bear Stearns [Member] | Mortgage Backed Securities Litigation Related to MBS Offerings Sponsored By Washington Mutual [Member] | Residential Real Estate [Member] | ||
Residential mortgage [Member] | Residential mortgage [Member] | Residential mortgage [Member] | Warranty Reserves [Member] | Warranty Reserves [Member] | Warranty Reserves [Member] | Warranty Reserves [Member] | Warranty Reserves [Member] | Warranty Reserves [Member] | trust | investors | ||||||||
Residential mortgage [Member] | Residential mortgage [Member] | Residential mortgage [Member] | Residential mortgage [Member] | Residential mortgage [Member] | Residential mortgage [Member] | |||||||||||||
Summary of changes in mortgage repurchase liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase liability at beginning of period | ' | ' | ' | ' | $2,811,000,000 | $3,557,000,000 | $3,285,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net realized losses | ' | ' | ' | ' | -1,561,000,000 | -1,158,000,000 | -1,263,000,000 | -414,000,000 | -524,000,000 | -640,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification to Litigation Reserve | ' | ' | ' | ' | -179,000,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Provision for repurchase losses | ' | ' | ' | ' | -390,000,000 | 412,000,000 | 1,535,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase liability at end of period | ' | ' | ' | ' | 681,000,000 | 2,811,000,000 | 3,557,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount to resolve Fannie Mae’s and Freddie Mac’s repurchase claims associated with whole loan purchases from 2000 to 2008 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000,000 | ' | ' | ' | ' |
Valuation Allowances and Reserves, Provision | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | 112,000,000 | 52,000,000 | ' | ' | ' | ' | ' |
Litigation settlement, amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,000,000,000 | 4,500,000,000 | ' | ' |
Number of Institutional MBS Investors Directing or Threatening Litigation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21 | ' |
Number of MBS for Which Repurchase and Servicing Claims Have Been or Could Have Been Asserted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 330 | ' | ' |
Amount of residential mortgage loans, private-label securitization by Washington Mutual | 165,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of residential mortgage loans, private-label securitization by Washington Mutual, Repaid | 75,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of residential mortgage loans, private-label securitization by Washington Mutual, Liquidated | 47,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent of residential mortgage loans originally sold or deposited into private-label securitization by Washington Mutual, Average Loss Severity | 59.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of residential mortgage loans, private-label securitization by Washington Mutual, Remaining | 43,000,000,000 | 10,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period past due, credit analysis factors, charge off criteria | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '60 days |
Loans sold with recourse | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indemnification Agreements Loan Sale And Securitization Loans Sold With Recourse Contractual Amount | ' | ' | 7,692,000,000 | 9,305,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indemnification Agreements, Loan Sale and Securitization, Loans Sold with Recourse: Carrying Value | ' | ' | $131,000,000 | $141,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
OffBalance_Sheet_LendingRelate6
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments - Other Off-Balance Sheet Arrangements (Details3) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Other off-balance sheet arrangements - supplemental information [Abstract] | ' | ' | ' |
Other expense | $19,761,000,000 | $14,032,000,000 | $13,559,000,000 |
Chase Paymentech Solutions [Member] | ' | ' | ' |
Other off-balance sheet arrangements - supplemental information [Abstract] | ' | ' | ' |
Other expense | 14,000,000 | 16,000,000 | 13,000,000 |
Aggregate volume processed by electronic payment services business | 750,100,000,000 | 655,200,000,000 | 553,700,000,000 |
Valuation Allowances and Reserves, Balance | 5,000,000 | 6,000,000 | ' |
Cash collateral held | $208,000,000 | $203,000,000 | ' |
Commitments_Pledged_Assets_and2
Commitments, Pledged Assets, and Collateral - Lease Commitments (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Future minimum rental payments under operating leases | ' | ' | ' |
2014 | $1,936 | ' | ' |
2015 | 1,845 | ' | ' |
2016 | 1,687 | ' | ' |
2017 | 1,529 | ' | ' |
2018 | 1,267 | ' | ' |
After 2018 | 6,002 | ' | ' |
Total minimum payments required | 14,266 | ' | ' |
Less: Sublease rentals under noncancelable subleases | -2,595 | ' | ' |
Net minimum payment required | 11,671 | ' | ' |
Total rental expense | ' | ' | ' |
Gross rental expense | 2,187 | 2,212 | 2,228 |
Sublease rental income | -341 | -288 | -403 |
Net rental expense | $1,846 | $1,924 | $1,825 |
Commitments_Pledged_Assets_and3
Commitments, Pledged Assets, and Collateral - Pledged Assets and Collateral (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Billions, unless otherwise specified | ||
Significant components of assets pledged | ' | ' |
Significant components of assets pledged as collateral, fair value | $443.70 | $472.80 |
Financial instruments pledged by the Firm that may not be sold or repledged by the secured parties | 60.6 | 74.5 |
Collateral Received that Can be Resold or Repledged | ' | ' |
Assets accepted by the Firm as collateral that it could sell or repedge, deliver or otherwise use at fair value | 726.7 | 757.1 |
Assets accepted by the Firm as collateral that the Firm has sold or repledged | 543.5 | 545 |
Securities [Member] | ' | ' |
Significant components of assets pledged | ' | ' |
Significant components of assets pledged as collateral, fair value | 68.1 | 110.1 |
Loans [Member] | ' | ' |
Significant components of assets pledged | ' | ' |
Significant components of assets pledged as collateral, fair value | 230.3 | 207.2 |
Trading assets [Member] | ' | ' |
Significant components of assets pledged | ' | ' |
Significant components of assets pledged as collateral, fair value | 145.2 | 155.5 |
Assets pledged to Federal Reserve Banks and Federal Home Loan Banks [Member] | ' | ' |
Significant components of assets pledged | ' | ' |
Significant components of assets pledged as collateral, fair value | $251.30 | $236.40 |
Litigation_Details
Litigation (Details) | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | 31-May-10 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | 31-May-10 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Nov. 15, 2013 | Dec. 31, 2013 | Nov. 15, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 30, 2014 | Feb. 28, 2014 | Jan. 30, 2014 | Jan. 30, 2014 | Jan. 30, 2014 | Jan. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Threatened or Pending Litigation [Member] | Threatened or Pending Litigation [Member] | Threatened or Pending Litigation [Member] | Threatened or Pending Litigation [Member] | Threatened or Pending Litigation [Member] | City of Milan Litigation and Criminal Investigation [Member] | City of Milan Litigation and Criminal Investigation [Member] | Parmalat [Member] | Credit Default Swaps Investigations and Litigation [Member] | Interchange Litigation [Member] | Lehman Brothers Bankruptcy Proceedings [Member] | Lehman Brothers Bankruptcy Proceedings [Member] | Lehman Brothers Bankruptcy Proceedings [Member] | LIBOR Investigations and Litigation [Member] | Madoff Litigation, related to Fairfield [Member] | Mortgage-Backed Securities Litigation and Regulatory Investigations [Member] | Mortgage-Backed Securities Litigation and Regulatory Investigations [Member] | Mortgage Backed Securities Litigation Related to MBS Offerings Sponsored By Washington Mutual [Member] | Mortgage Backed Securities Litigation Related to MBS Offerings Sponsored By Washington Mutual [Member] | Mortgage Backed Securities Litigation Related to MBS Offerings Sponsored By Washington Mutual [Member] | Mortgage Backed Securities Litigation Related to MBS Offerings Issued By JPMC and Bear Stearns [Member] | Mortgage Backed Securities Litigation Related to MBS Offerings Sponsored By JPMorgan Chase [Member] | Mortgage Backed Securities Litigation Related to MBS Offerings Sponsored By JPMorgan Chase [Member] | Petters Bankruptcy and Related Matters [Member] | Washington Mutual Litigations [Member] | Washington Mutual Litigations [Member] | Municipal Derivatives Investigations and Litigation [Member] | Interchange Litigation Defendant Group [Member] | JPMorgan Chase & Co [Member] | Monoline Insurer [Member] | Assured Guaranty (U.K.) and Ambac Assurance UK Limited [Member] | Assured Guaranty (U.K.) and Ambac Assurance UK Limited [Member] | Civil Action [Member] | Claw-back Actions [Member] | Claims Relating to Derivatives Transactions [Member] | Madoff Litigation and Investigations [Member] | Shareholder Derivative Action [Member] | Subsequent Event [Member] | Subsequent Event [Member] | The Office of the Comptroller of the Currency [Member] | Financial Crimes Enforcement Network [Member] | BLMIS Trustee [Member] | Class Action Plaintiffs [Member] | Civil Monetary Penalty [Member] | Compensatory Payments [Member] | Compensatory Payments [Member] | |
USD ($) | USD ($) | USD ($) | Maximum [Member] | Minimum [Member] | EUR (€) | employees | employees | actions | USD ($) | USD ($) | Minimum [Member] | EUR (€) | USD ($) | USD ($) | Minimum [Member] | trust | investors | Minimum [Member] | USD ($) | Maximum [Member] | Minimum [Member] | USD ($) | Plaintiff, Deutsche Bank National Trust Company [Member] | Plaintiff, Deutsche Bank National Trust Company [Member] | Minimum [Member] | Interchange Litigation [Member] | MF Global [Member] | Mortgage Backed Securities Litigation Related to MBS Offerings Sponsored By EMC [Member] | Investment Management Litigation [Member] | Investment Management Litigation [Member] | Parmalat [Member] | Parmalat [Member] | Parmalat [Member] | New York State Court [Member] | New York State Supreme Court [Member] | Madoff Litigation and Investigations [Member] | Mortgage Foreclosure Investigations and Litigation Shareholder Derivative Actions [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Mortgage-Backed Securities Litigation and Regulatory Investigations [Member] | Mortgage-Backed Securities Litigation and Regulatory Investigations [Member] | Federal Housing Finance Agency [Member] | ||
USD ($) | USD ($) | banks | USD ($) | actions | USD ($) | trust | trust | USD ($) | entities | Maximum [Member] | Minimum [Member] | USD ($) | USD ($) | entities | offerings | actions | Minimum [Member] | actions | actions | claims | Breach of Fiduciary Duty Litigation [Member] | Mortgage Foreclosure Investigations and Litigation Shareholder Derivative Actions [Member] | USD ($) | USD ($) | Madoff Litigation and Investigations [Member] | Madoff Litigation and Investigations [Member] | Madoff Litigation and Investigations [Member] | Madoff Litigation and Investigations [Member] | USD ($) | USD ($) | Mortgage-Backed Securities Litigation and Regulatory Investigations [Member] | |||||||||||||||
USD ($) | USD ($) | actions | USD ($) | actions | actions | municipalities | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency, range of possible loss | ' | ' | ' | $5,000,000,000 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of legal proceedings | ' | ' | ' | ' | ' | ' | ' | ' | 9 | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | 2 | ' | 5 | 2 | 2 | 5 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency Settlement Amount Agreed to Pay by Defendant Group | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,050,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Settlement Agreement, Consideration, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency, settlement agreement, consideration, basis points of interchange | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Settlement Agreement, Consideration, Period Class Plaintiffs to Receive Basis Points of Interchange | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '8 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period From The End of the Opt-out Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | '60 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Damages Sought, Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,600,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000,000 | 6,000,000,000 | ' | ' | ' | ' | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Current and Former JPMorgan Chase and JPMorgan Chase Bank, N.A. Personnel Directed To Go Forward To A Full Trial | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of other banks with personnel ordered to go to a full trial | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of JPMorgan Chase personnel acquitted | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of JPMorgan Chase personnel found guilty | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Length of time banned from dealing with Italian public bodies | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fine Levied by the Court | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forfeited Profit from the Transaction | ' | ' | ' | ' | ' | 24,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Former Employees Intended to be Charged with Conspiracy | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Damages Sought, Counterclaims, Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Damages Sought, Counterclaims, Payments Received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency, settlement agreement, consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 79,900,000 | ' | 9,000,000,000 | ' | ' | ' | ' | 4,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 614,000,000 | ' | ' | 325,000,000 | 218,000,000 | 2,000,000,000 | 7,000,000,000 | 4,000,000,000 |
Amount Agreed to Forfeit As Non-Tax-Deductible Payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,700,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Civil Money Penalty Assessment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350,000,000 | 461,000,000 | ' | ' | ' | ' | ' |
Loss Contingency, Damages Sought, Recoveries, Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 155,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 450,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Defendants out of a Group of Defendants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Securities Issued by Securitization Trusts related to, Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 74,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of Original Principal Balance of MBS Involved Claims by Investors or Monoline Insurers Against JPMC, Bear Stearns or Washington Mutual as Issuer | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of Original Principal Balance of MBS Involved Claims by Investors or Monoline Insurers Against JPMC, Bear Stearns or Washington Mutual as Underwriter | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Actions for Which Agreement in Principle to Settle Has Been Reached | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Actions for Which Motions to Dismiss Have Largely Been Denied | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Offerings by Entity Related to Filed Suit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Institutional MBS Investors Directing or Threatening Litigation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Voting Rights, MBS Trust Certificateholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Trusts Related to an MBS Securitization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52 | ' | ' | ' | 191 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Mortgage-Backed Securities Trusts, Original Principal Amount Related To, Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 58,000,000,000 | ' | ' | 174,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of MBS for Which Repurchase and Servicing Claims Have Been or Could Have Been Asserted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 330 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Shareholder Derivative Actions Relating to the Firm's MBS Activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitment to Provide Borrower Relief as Part of a Settlement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount Agreed to Resolve Fannie Mae's and Freddie Mac's Repurchase Claims Associated with Whole Loan Purchases from 2000 to 2008 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Municipalities Pursuing Investigations into the Impact, if any, of Alleged Violations of the FHA and ECOA on their Respective Communities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' |
The Number of Warrants the Firm was Chosen to Underwrite Based Upon Alleged Payments Made to Certain Third Parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Entities Whose Trustee in Bankruptcy Brought Actions Against JPMorgan Chase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Estimate [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Litigation expense (benefit) | $11,100,000,000 | $4,987,000,000 | $4,900,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
International_Operations_Detai
International Operations (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Entity-Wide Information by Geographic Areas | ' | ' | ' |
Revenue | $96,606 | $97,031 | $97,234 |
Expense | 70,692 | 68,114 | 70,485 |
Income before income tax expense | 25,914 | 28,917 | 26,749 |
Net income | 17,923 | 21,284 | 18,976 |
Total assets | 2,415,689 | 2,359,141 | 2,265,792 |
United Kingdom [Member] | ' | ' | ' |
Entity-Wide Information by Geographic Areas | ' | ' | ' |
Total assets | 451,000 | 498,000 | 510,000 |
Europe/Middle East and Africa [Member] | ' | ' | ' |
Entity-Wide Information by Geographic Areas | ' | ' | ' |
Revenue | 15,585 | 10,522 | 16,212 |
Expense | 9,069 | 9,326 | 9,157 |
Income before income tax expense | 6,516 | 1,196 | 7,055 |
Net income | 4,842 | 1,508 | 4,844 |
Total assets | 514,747 | 553,147 | 566,866 |
Asia and Pacific [Member] | ' | ' | ' |
Entity-Wide Information by Geographic Areas | ' | ' | ' |
Revenue | 6,168 | 5,605 | 5,992 |
Expense | 4,248 | 3,952 | 3,802 |
Income before income tax expense | 1,920 | 1,653 | 2,190 |
Net income | 1,254 | 1,048 | 1,380 |
Total assets | 145,999 | 167,955 | 156,411 |
Latin America and the Caribbean [Member] | ' | ' | ' |
Entity-Wide Information by Geographic Areas | ' | ' | ' |
Revenue | 2,251 | 2,328 | 2,273 |
Expense | 1,626 | 1,580 | 1,711 |
Income before income tax expense | 625 | 748 | 562 |
Net income | 381 | 454 | 340 |
Total assets | 41,473 | 53,984 | 51,481 |
Total International [Member] | ' | ' | ' |
Entity-Wide Information by Geographic Areas | ' | ' | ' |
Revenue | 24,004 | 18,455 | 24,477 |
Expense | 14,943 | 14,858 | 14,670 |
Income before income tax expense | 9,061 | 3,597 | 9,807 |
Net income | 6,477 | 3,010 | 6,564 |
Total assets | 702,219 | 775,086 | 774,758 |
North America [Member] | ' | ' | ' |
Entity-Wide Information by Geographic Areas | ' | ' | ' |
Revenue | 72,602 | 78,576 | 72,757 |
Expense | 55,749 | 53,256 | 55,815 |
Income before income tax expense | 16,853 | 25,320 | 16,942 |
Net income | 11,446 | 18,274 | 12,412 |
Total assets | $1,713,470 | $1,584,055 | $1,491,034 |
Business_Segments_Narrative_De
Business Segments - Narrative (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 |
segment | Asset Management [Member] | Minimum [Member] | Maximum [Member] | |
Commercial Banking [Member] | Commercial Banking [Member] | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Number of JPMorgan Chase & Co business segments | 4 | ' | ' | ' |
Client revenue | ' | ' | $20,000,000 | $2,000,000,000 |
Assets under supervision | ' | $2,300,000,000,000 | ' | ' |
Business_Segments_Details_1
Business Segments (Details 1) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment results and reconciliation | ' | ' | ' |
Noninterest revenue | $53,287 | $52,121 | $49,545 |
Net interest income | 43,319 | 44,910 | 47,689 |
Total net revenue | 96,606 | 97,031 | 97,234 |
Provision for credit losses | 225 | 3,385 | 7,574 |
Noninterest expense | 70,467 | 64,729 | 62,911 |
Income/(loss) before income tax expense/(benefit) | 25,914 | 28,917 | 26,749 |
Income tax expense/(benefit) | 7,991 | 7,633 | 7,773 |
Net income/(loss) | 17,923 | 21,284 | 18,976 |
Average common equity | 196,409 | 184,352 | 173,266 |
Assets | 2,415,689 | 2,359,141 | 2,265,792 |
Return on average common equity | 9.00% | 11.00% | 11.00% |
Overhead ratio | 73.00% | 67.00% | 65.00% |
Consumer & Community Banking [Member] | ' | ' | ' |
Segment results and reconciliation | ' | ' | ' |
Noninterest revenue | 17,552 | 20,813 | 15,314 |
Net interest income | 28,474 | 29,071 | 30,305 |
Total net revenue | 46,026 | 49,884 | 45,619 |
Provision for credit losses | 335 | 3,774 | 7,620 |
Noninterest expense | 27,842 | 28,827 | 27,637 |
Income/(loss) before income tax expense/(benefit) | 17,849 | 17,283 | 10,362 |
Income tax expense/(benefit) | 7,100 | 6,732 | 4,257 |
Net income/(loss) | 10,749 | 10,551 | 6,105 |
Average common equity | 46,000 | 43,000 | 41,000 |
Assets | 452,929 | 467,282 | 486,697 |
Return on average common equity | 23.00% | 25.00% | 15.00% |
Overhead ratio | 60.00% | 58.00% | 61.00% |
Corporate & Investment Bank [Member] | ' | ' | ' |
Segment results and reconciliation | ' | ' | ' |
Noninterest revenue | 23,810 | 23,104 | 22,523 |
Net interest income | 10,415 | 11,222 | 11,461 |
Total net revenue | 34,225 | 34,326 | 33,984 |
Provision for credit losses | -232 | -479 | -285 |
Noninterest expense | 21,744 | 21,850 | 21,979 |
Income/(loss) before income tax expense/(benefit) | 12,713 | 12,955 | 12,290 |
Income tax expense/(benefit) | 4,167 | 4,549 | 4,297 |
Net income/(loss) | 8,546 | 8,406 | 7,993 |
Average common equity | 56,500 | 47,500 | 47,000 |
Assets | 843,577 | 876,107 | 845,095 |
Return on average common equity | 15.00% | 18.00% | 17.00% |
Overhead ratio | 64.00% | 64.00% | 65.00% |
Commercial Banking [Member] | ' | ' | ' |
Segment results and reconciliation | ' | ' | ' |
Noninterest revenue | 2,298 | 2,283 | 2,195 |
Net interest income | 4,675 | 4,542 | 4,223 |
Total net revenue | 6,973 | 6,825 | 6,418 |
Provision for credit losses | 85 | 41 | 208 |
Noninterest expense | 2,610 | 2,389 | 2,278 |
Income/(loss) before income tax expense/(benefit) | 4,278 | 4,395 | 3,932 |
Income tax expense/(benefit) | 1,703 | 1,749 | 1,565 |
Net income/(loss) | 2,575 | 2,646 | 2,367 |
Average common equity | 13,500 | 9,500 | 8,000 |
Assets | 190,782 | 181,502 | 158,040 |
Return on average common equity | 19.00% | 28.00% | 30.00% |
Overhead ratio | 37.00% | 35.00% | 35.00% |
Asset Management [Member] | ' | ' | ' |
Segment results and reconciliation | ' | ' | ' |
Noninterest revenue | 9,029 | 7,847 | 7,895 |
Net interest income | 2,291 | 2,099 | 1,648 |
Total net revenue | 11,320 | 9,946 | 9,543 |
Provision for credit losses | 65 | 86 | 67 |
Noninterest expense | 8,016 | 7,104 | 7,002 |
Income/(loss) before income tax expense/(benefit) | 3,239 | 2,756 | 2,474 |
Income tax expense/(benefit) | 1,208 | 1,053 | 882 |
Net income/(loss) | 2,031 | 1,703 | 1,592 |
Average common equity | 9,000 | 7,000 | 6,500 |
Assets | 122,414 | 108,999 | 86,242 |
Return on average common equity | 23.00% | 24.00% | 25.00% |
Overhead ratio | 71.00% | 71.00% | 73.00% |
Corporate/Private Equity [Member] | ' | ' | ' |
Segment results and reconciliation | ' | ' | ' |
Noninterest revenue | 3,093 | 190 | 3,621 |
Net interest income | -1,839 | -1,281 | 582 |
Total net revenue | 1,254 | -1,091 | 4,203 |
Provision for credit losses | -28 | -37 | -36 |
Noninterest expense | 10,255 | 4,559 | 4,015 |
Income/(loss) before income tax expense/(benefit) | -8,973 | -5,613 | 224 |
Income tax expense/(benefit) | -2,995 | -3,591 | -695 |
Net income/(loss) | -5,978 | -2,022 | 919 |
Average common equity | 71,409 | 77,352 | 70,766 |
Assets | 805,987 | 725,251 | 689,718 |
Reconciling Items [Member] | ' | ' | ' |
Segment results and reconciliation | ' | ' | ' |
Noninterest revenue | -2,495 | -2,116 | -2,003 |
Net interest income | -697 | -743 | -530 |
Total net revenue | -3,192 | -2,859 | -2,533 |
Provision for credit losses | 0 | 0 | 0 |
Noninterest expense | 0 | 0 | 0 |
Income/(loss) before income tax expense/(benefit) | -3,192 | -2,859 | -2,533 |
Income tax expense/(benefit) | -3,192 | -2,859 | -2,533 |
Net income/(loss) | 0 | 0 | 0 |
Average common equity | $0 | $0 | $0 |
Parent_Company_Statements_of_I
Parent Company - Statements of Income (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income | ' | ' | ' |
Other income(loss) from subsidiaries and third parties | $53,287 | $52,121 | $49,545 |
Total net revenue | 96,606 | 97,031 | 97,234 |
Expense | ' | ' | ' |
Interest expense to subsidiaries and third parties | 9,677 | 11,153 | 13,604 |
Other Noninterest Expense | 19,761 | 14,032 | 13,559 |
Income before income tax benefit and undistributed net income of subsidiaries | 25,914 | 28,917 | 26,749 |
Income tax benefit | -7,991 | -7,633 | -7,773 |
Net income | 17,923 | 21,284 | 18,976 |
Other comprehensive income/(loss) | -2,903 | 3,158 | -57 |
Comprehensive income | 15,020 | 24,442 | 18,919 |
JPMorgan Chase & Co. [Member] | ' | ' | ' |
Income | ' | ' | ' |
Dividends from subsidiaries | 1,917 | 6,798 | 13,414 |
Expense | ' | ' | ' |
Net income | -7,573 | -2,190 | -2,829 |
JPMorgan Chase & Co. [Member] | Bank and Bank Holding Company Subsidiaries [Member] | ' | ' | ' |
Income | ' | ' | ' |
Dividends from subsidiaries | 1,175 | 4,828 | 10,852 |
Other income(loss) from subsidiaries and third parties | 318 | 939 | 809 |
JPMorgan Chase & Co. [Member] | Nonbank Subsidiaries [Member] | ' | ' | ' |
Income | ' | ' | ' |
Dividends from subsidiaries | 876 | 1,972 | 2,651 |
Other income(loss) from subsidiaries and third parties | 2,065 | 1,207 | 92 |
JPMorgan Chase & Co. [Member] | Consolidated Subsidiaries And Unconsolidated Affiliates [Member] | ' | ' | ' |
Income | ' | ' | ' |
Interest income from subsidiaries and third parties | 757 | 1,041 | 1,099 |
Expense | ' | ' | ' |
Interest expense to subsidiaries and third parties | 309 | 836 | 1,121 |
Net income | 25,496 | 23,474 | 21,805 |
JPMorgan Chase & Co. [Member] | Non-Subsidiaries [Member] | ' | ' | ' |
Income | ' | ' | ' |
Interest income from subsidiaries and third parties | 303 | 293 | 384 |
Other income(loss) from subsidiaries and third parties | -1,380 | 579 | -85 |
Expense | ' | ' | ' |
Interest expense to subsidiaries and third parties | 4,031 | 4,679 | 4,447 |
JPMorgan Chase & Co. [Member] | Subsidiaries and Third Parties [Member] | ' | ' | ' |
Income | ' | ' | ' |
Total net revenue | 4,114 | 10,859 | 15,802 |
Expense | ' | ' | ' |
Other Noninterest Expense | 9,597 | 2,399 | 649 |
Total expense | 13,937 | 7,914 | 6,217 |
Income before income tax benefit and undistributed net income of subsidiaries | -9,823 | 2,945 | 9,585 |
Income tax benefit | 4,301 | 1,665 | 1,089 |
Equity in undistributed net income of subsidiaries | 23,445 | 16,674 | 8,302 |
Net income | 17,923 | 21,284 | 18,976 |
Other comprehensive income/(loss) | -2,903 | 3,158 | -57 |
Comprehensive income | $15,020 | $24,442 | $18,919 |
Parent_Company_Balance_Sheets_
Parent Company - Balance Sheets (Details1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | ||||
Assets | ' | ' | ' | ' |
Cash and due from banks | $39,771 | $53,723 | $59,602 | $27,567 |
Trading assets | 374,664 | 450,028 | ' | ' |
Available-for-sale securities | 329,977 | 371,145 | ' | ' |
Loans | 738,418 | 733,796 | ' | ' |
Other assets | 110,101 | 101,775 | ' | ' |
Total assets | 2,415,689 | 2,359,141 | 2,265,792 | ' |
Liabilities and stockholders equity | ' | ' | ' | ' |
Long-term debt | 267,889 | 249,024 | ' | ' |
Total liabilities | 2,204,511 | 2,155,072 | ' | ' |
Total stockholders' equity | 211,178 | 204,069 | ' | ' |
Total liabilities and stockholders’ equity | 2,415,689 | 2,359,141 | ' | ' |
JPMorgan Chase & Co. [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and due from banks | 264 | 216 | 132 | 96 |
Deposits with banking subsidiaries | 64,843 | 75,521 | ' | ' |
Trading assets | 13,727 | 8,128 | ' | ' |
Available-for-sale securities | 15,228 | 3,541 | ' | ' |
Loans | 2,829 | 2,101 | ' | ' |
Advances To and Receivables From Subsidiaries, Bank and Bank Holding Companies | 21,693 | 39,773 | ' | ' |
Advances To and Receivables From Subsidiaries, Nonbanking Companies | 68,788 | 86,904 | ' | ' |
Investments in Subsidiaries, Bank and Bank Holding Companies | 196,950 | 170,297 | ' | ' |
Investments in Subsidiaries, Nonbanking Companies | 50,996 | 46,302 | ' | ' |
Other assets | 18,877 | 16,481 | ' | ' |
Total assets | 454,195 | 449,264 | ' | ' |
Liabilities and stockholders equity | ' | ' | ' | ' |
Borrowings from, and payables to, subsidiaries and affiliates | 14,328 | 16,744 | ' | ' |
Other borrowed funds, primarily commercial paper | 55,454 | 62,010 | ' | ' |
Other Liabilities | 11,367 | 8,208 | ' | ' |
Long-term debt | 161,868 | 158,233 | ' | ' |
Total liabilities | 243,017 | 245,195 | ' | ' |
Total stockholders' equity | 211,178 | 204,069 | ' | ' |
Total liabilities and stockholders’ equity | $454,195 | $449,264 | ' | ' |
Parent_Company_Statements_of_C
Parent Company - Statements of Cash Flows (Details2) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating activities | ' | ' | ' |
Net income | $17,923 | $21,284 | $18,976 |
Other, net | -2,037 | -3,613 | 6,157 |
Net cash provided by operating activities | 107,953 | 25,079 | 95,932 |
Investing activities | ' | ' | ' |
Net change in: Deposits with banking subsidiaries | -194,363 | -36,595 | -63,592 |
Available-for-sale securities: Proceeds from sales and maturities | 89,631 | 112,633 | 86,850 |
Available-for-sale securities: Purchases | -130,266 | -189,630 | -202,309 |
Other changes in loans, net | -23,721 | -30,491 | -58,365 |
All other investing activities, net | -679 | -3,400 | -63 |
Net cash used in investing activities | -150,501 | -119,825 | -170,752 |
Financing activities | ' | ' | ' |
Net change in other borrowed funds | 2,784 | 9,315 | 7,230 |
Proceeds from the issuance of long-term debt | 83,546 | 86,271 | 54,844 |
Repayments of long-term debt | -60,497 | -96,473 | -82,078 |
Excess tax benefits related to stock-based compensation | 137 | 255 | 867 |
Proceeds from issuance of preferred stock | 3,873 | 1,234 | 0 |
Treasury stock and warrants repurchased | -4,789 | -1,653 | -8,863 |
Dividends paid | -6,056 | -5,194 | -3,895 |
All other financing activities, net | -1,050 | -189 | -1,868 |
Net cash provided by financing activities | 28,324 | 87,707 | 107,706 |
Net (decrease)/increase in cash and due from banks | -13,952 | -5,879 | 32,035 |
Cash and due from banks at the beginning of the period | 53,723 | 59,602 | 27,567 |
Cash and due from banks at the end of the period | 39,771 | 53,723 | 59,602 |
Cash interest paid | 9,573 | 11,161 | 13,725 |
Cash income taxes paid, net | 3,502 | 2,050 | 8,153 |
JPMorgan Chase & Co. [Member] | ' | ' | ' |
Operating activities | ' | ' | ' |
Net income | -7,573 | -2,190 | -2,829 |
Cash dividends from subsidiaries and affiliates | 1,917 | 6,798 | 13,414 |
Other, net | 3,180 | 2,376 | 860 |
Net cash provided by operating activities | -2,476 | 6,984 | 11,445 |
Investing activities | ' | ' | ' |
Net change in: Deposits with banking subsidiaries | 10,679 | 16,100 | 20,866 |
Available-for-sale securities: Proceeds from sales and maturities | 61 | 621 | 886 |
Available-for-sale securities: Purchases | -12,009 | -364 | -1,109 |
Other changes in loans, net | -713 | -350 | 153 |
Advances to subsidiaries, net | 13,769 | 5,951 | -28,105 |
Investments (at equity) in subsidiaries and affiliates, net | 700 | 3,546 | -1,530 |
All other investing activities, net | 22 | 25 | 29 |
Net cash used in investing activities | 12,509 | 25,529 | -8,810 |
Financing activities | ' | ' | ' |
Net change in borrowings from subsidiaries and affiliates | -2,715 | -14,038 | 2,827 |
Net change in other borrowed funds | -7,297 | 3,736 | 16,268 |
Proceeds from the issuance of long-term debt | 31,303 | 28,172 | 33,566 |
Repayments of long-term debt | -21,510 | -44,240 | -41,747 |
Excess tax benefits related to stock-based compensation | 137 | 255 | 867 |
Redemption of preferred stock | -1,800 | 0 | 0 |
Proceeds from issuance of preferred stock | 3,873 | 1,234 | 0 |
Treasury stock and warrants repurchased | -4,789 | -1,653 | -8,863 |
Dividends paid | -6,056 | -5,194 | -3,895 |
All other financing activities, net | -1,131 | -701 | -1,622 |
Net cash provided by financing activities | -9,985 | -32,429 | -2,599 |
Net (decrease)/increase in cash and due from banks | 48 | 84 | 36 |
Cash and due from banks at the beginning of the period | 216 | 132 | 96 |
Cash and due from banks at the end of the period | 264 | 216 | 132 |
Cash interest paid | 4,409 | 5,690 | 5,800 |
Cash income taxes paid, net | 2,390 | 3,080 | 5,885 |
Subsidiaries and Third Parties [Member] | JPMorgan Chase & Co. [Member] | ' | ' | ' |
Operating activities | ' | ' | ' |
Net income | 17,923 | 21,284 | 18,976 |
Consolidated Subsidiaries And Unconsolidated Affiliates [Member] | JPMorgan Chase & Co. [Member] | ' | ' | ' |
Operating activities | ' | ' | ' |
Net income | $25,496 | $23,474 | $21,805 |
Parent_Company_Supplemental_In
Parent Company - Supplemental Information (Details3) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Long-term Debt, Fiscal Year Maturity [Abstract] | ' | ' | ' |
Long-term debt maturity, 2014 | $45,434,000,000 | ' | ' |
Long-term debt maturity, 2015 | 43,300,000,000 | ' | ' |
Long-term debt maturity, 2016 | 36,300,000,000 | ' | ' |
Long-term debt maturity, 2017 | 32,500,000,000 | ' | ' |
Long-term debt maturity, 2018 | 34,800,000,000 | ' | ' |
JPMorgan Chase & Co. [Member] | ' | ' | ' |
Long-term Debt, Fiscal Year Maturity [Abstract] | ' | ' | ' |
Long-term debt maturity, 2014 | 26,415,000,000 | ' | ' |
Long-term debt maturity, 2015 | 23,800,000,000 | ' | ' |
Long-term debt maturity, 2016 | 22,500,000,000 | ' | ' |
Long-term debt maturity, 2017 | 16,600,000,000 | ' | ' |
Long-term debt maturity, 2018 | 18,700,000,000 | ' | ' |
Subsidiaries [Member] | JPMorgan Chase & Co. [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Dividends from guaranteed capital debt securities | $5,000,000 | $12,000,000 | $13,000,000 |