Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended |
Jun. 30, 2014 | |
Document and Entity Information | ' |
Entity Registrant Name | 'JPMORGAN CHASE & CO |
Entity Central Index Key | '0000019617 |
Document Type | '10-Q |
Document Period End Date | 30-Jun-14 |
Amendment Flag | 'false |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'Q2 |
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 Common Stock, Shares Outstanding | 3,761,280,910 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
Share data in Millions, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | ||||
Revenue | ' | ' | ' | ' | ||||
Investment banking fees | $1,751,000,000 | $1,717,000,000 | $3,171,000,000 | $3,162,000,000 | ||||
Principal transactions | 2,908,000,000 | 3,760,000,000 | 6,230,000,000 | 7,521,000,000 | ||||
Lending- and deposit-related fees | 1,463,000,000 | 1,489,000,000 | 2,868,000,000 | 2,957,000,000 | ||||
Asset management, administration and commissions | 4,007,000,000 | 3,865,000,000 | 7,843,000,000 | 7,464,000,000 | ||||
Securities gains | 12,000,000 | [1] | 124,000,000 | [1] | 42,000,000 | [1] | 633,000,000 | [1] |
Mortgage fees and related income | 1,291,000,000 | 1,823,000,000 | 1,805,000,000 | 3,275,000,000 | ||||
Credit card income | 1,549,000,000 | 1,503,000,000 | 2,957,000,000 | 2,922,000,000 | ||||
Other income | 675,000,000 | 226,000,000 | 1,066,000,000 | 762,000,000 | ||||
Noninterest revenue | 13,656,000,000 | 14,507,000,000 | 25,982,000,000 | 28,696,000,000 | ||||
Interest income | 12,861,000,000 | 13,072,000,000 | 25,654,000,000 | 26,437,000,000 | ||||
Interest expense | 2,063,000,000 | 2,368,000,000 | 4,189,000,000 | 4,800,000,000 | ||||
Net interest income | 10,798,000,000 | 10,704,000,000 | 21,465,000,000 | 21,637,000,000 | ||||
Total net revenue | 24,454,000,000 | 25,211,000,000 | 47,447,000,000 | 50,333,000,000 | ||||
Provision for credit losses | 692,000,000 | 47,000,000 | 1,542,000,000 | 664,000,000 | ||||
Noninterest expense | ' | ' | ' | ' | ||||
Compensation expense | 7,610,000,000 | 8,019,000,000 | 15,469,000,000 | 16,433,000,000 | ||||
Occupancy expense | 973,000,000 | 904,000,000 | 1,925,000,000 | 1,805,000,000 | ||||
Technology, communications and equipment expense | 1,433,000,000 | 1,361,000,000 | 2,844,000,000 | 2,693,000,000 | ||||
Professional and outside services | 1,932,000,000 | 1,901,000,000 | 3,718,000,000 | 3,635,000,000 | ||||
Marketing | 650,000,000 | 578,000,000 | 1,214,000,000 | 1,167,000,000 | ||||
Other expense | 2,701,000,000 | 2,951,000,000 | 4,634,000,000 | 5,252,000,000 | ||||
Amortization of intangibles | 132,000,000 | 152,000,000 | 263,000,000 | 304,000,000 | ||||
Total noninterest expense | 15,431,000,000 | 15,866,000,000 | 30,067,000,000 | 31,289,000,000 | ||||
Income/(loss) before income tax expense/(benefit) | 8,331,000,000 | 9,298,000,000 | 15,838,000,000 | 18,380,000,000 | ||||
Income tax expense | 2,346,000,000 | 2,802,000,000 | 4,579,000,000 | 5,355,000,000 | ||||
Net income | 5,985,000,000 | 6,496,000,000 | 11,259,000,000 | 13,025,000,000 | ||||
Net income applicable to common stockholders | 5,573,000,000 | 6,101,000,000 | 10,470,000,000 | 12,232,000,000 | ||||
Net income per common share data | ' | ' | ' | ' | ||||
Basic earnings per share (in dollars per share) | $1.47 | $1.61 | $2.77 | $3.22 | ||||
Diluted earnings per share (in dollars per share) | $1.46 | $1.60 | $2.74 | $3.19 | ||||
Weighted-average basic shares (in shares) | 3,780.60 | 3,782.40 | 3,783.90 | 3,800.30 | ||||
Weighted-average diluted shares (in shares) | 3,812.50 | 3,814.30 | 3,818.10 | 3,830.60 | ||||
Cash dividends declared per common share (in dollars per share) | $0.40 | $0.38 | $0.78 | $0.68 | ||||
Intent to sell | ' | ' | ' | ' | ||||
Other-than-temporary impairment losses included in securities gains | ' | ' | ' | ' | ||||
OTTI losses recognized in income | $0 | $6,000,000 | $2,000,000 | $6,000,000 | ||||
[1] | The Firm recognized other-than-temporary impairment (“OTTIâ€) losses related to securities the Firm intends to sell of $2 million for the six months ended June 30, 2014; the Firm did not recognize OTTI losses for the three months ended June 30, 2014. The Firm recognized OTTI losses of $6 million for the three and six months ended June 30, 2013. |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $5,985 | $6,496 | $11,259 | $13,025 |
Other comprehensive income/(loss), after-tax | ' | ' | ' | ' |
Unrealized gains/(losses) on investment securities | 1,075 | -3,091 | 2,069 | -3,731 |
Translation adjustments, net of hedges | 12 | -38 | 10 | -51 |
Cash flow hedges | 68 | -290 | 127 | -352 |
Defined benefit pension and OPEB plans | 7 | 64 | 33 | 168 |
Total other comprehensive income/(loss), after-tax | 1,162 | -3,355 | 2,239 | -3,966 |
Comprehensive income | $7,147 | $3,141 | $13,498 | $9,059 |
Consolidated_Balance_Sheets_Un
Consolidated Balance Sheets (Unaudited) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Assets | ' | ' | ||
Cash and due from banks | $27,523 | $39,771 | ||
Deposits with banks | 393,909 | 316,051 | ||
Federal funds sold and securities purchased under resale agreements (included $27,837 and $25,135 at fair value) | 248,149 | 248,116 | ||
Securities borrowed (included $2,134 and $3,739 at fair value) | 113,967 | 111,465 | ||
Trading assets (included assets pledged of $128,995 and $106,299) | 392,543 | 374,664 | ||
Securities (included $314,069 and $329,977 at fair value and assets pledged of $33,449 and $23,446) | 361,918 | 354,003 | ||
Loans (included $4,303 and $2,011 at fair value) | 746,983 | 738,418 | ||
Allowance for loan losses | -15,326 | -16,264 | ||
Loans, net of allowance for loan losses | 731,657 | 722,154 | ||
Accrued interest and accounts receivable | 77,096 | 65,160 | ||
Premises and equipment | 15,216 | 14,891 | ||
Goodwill | 48,110 | 48,081 | ||
Mortgage servicing rights | 8,347 | 9,614 | ||
Other intangible assets | 1,339 | 1,618 | ||
Other assets (included $12,893 and $15,187 at fair value and assets pledged of $386 and $2,066) | 100,562 | 110,101 | ||
Total assets | 2,520,336 | [1] | 2,415,689 | [1] |
Liabilities | ' | ' | ||
Deposits (included $7,922 and $6,624 at fair value) | 1,319,751 | 1,287,765 | ||
Federal funds purchased and securities loaned or sold under repurchase agreements (included $2,630 and $5,426 at fair value) | 216,561 | 181,163 | ||
Commercial paper | 63,804 | 57,848 | ||
Other borrowed funds (included $15,403 and $13,306 at fair value) | 34,713 | 27,994 | ||
Trading liabilities | 138,656 | 137,744 | ||
Accounts payable and other liabilities (included $45 and $25 at fair value) | 203,885 | 194,491 | ||
Beneficial interests issued by consolidated variable interest entities (included $2,094 and $1,996 at fair value) | 45,723 | 49,617 | ||
Long-term debt (included $31,142 and $28,878 at fair value) | 269,929 | 267,889 | ||
Total liabilities | 2,293,022 | [1] | 2,204,511 | [1] |
Stockholders’ equity | ' | ' | ||
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 1,846,250 and 1,115,750 shares) | 18,463 | 11,158 | ||
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | 4,105 | ||
Capital surplus | 92,879 | 93,828 | ||
Retained earnings | 123,497 | 115,756 | ||
Accumulated other comprehensive income/(loss) | 3,438 | 1,199 | ||
Shares held in RSU Trust, at cost (472,953 and 476,642 shares) | -21 | -21 | ||
Treasury stock, at cost (343,652,985 and 348,825,583 shares) | -15,047 | -14,847 | ||
Total stockholders’ equity | 227,314 | 211,178 | ||
Total liabilities and stockholders’ equity | 2,520,336 | 2,415,689 | ||
Assets and liabilities related to VIEs that are consolidated by the Firm | ' | ' | ||
Assets | ' | ' | ||
Trading assets (included assets pledged of $128,995 and $106,299) | 6,006 | 6,366 | ||
Loans (included $4,303 and $2,011 at fair value) | 64,598 | 70,072 | ||
Other assets (included $12,893 and $15,187 at fair value and assets pledged of $386 and $2,066) | 2,048 | 2,168 | ||
Total assets | 72,652 | 78,606 | ||
Liabilities | ' | ' | ||
Beneficial interests issued by consolidated variable interest entities (included $2,094 and $1,996 at fair value) | 45,723 | 49,617 | ||
Other liabilities | 1,027 | 1,061 | ||
Total liabilities | $46,750 | $50,678 | ||
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at June 30, 2014, and December 31, 2013. The difference between total VIE assets and liabilities represents the Firm’s interests in those entities, which were eliminated in consolidation.(in millions)Jun 30, 2014 Dec 31, 2013Assets Trading assets$6,006 $6,366Loans64,598 70,072All other assets2,048 2,168Total assets$72,652 $78,606Liabilities Beneficial interests issued by consolidated variable interest entities$45,723 $49,617All other liabilities1,027 1,061Total liabilities$46,750 $50,678The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests do not have recourse to the general credit of JPMorgan Chase. At both June 30, 2014, and December 31, 2013, the Firm provided limited program-wide credit enhancement of $2.6 billion related to its Firm-administered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 15. |
Consolidated_Balance_Sheets_Un1
Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Assets | ' | ' |
Available-for-sale securities | $314,069,000,000 | $329,977,000,000 |
Liabilities | ' | ' |
Other borrowed funds | 34,713,000,000 | 27,994,000,000 |
Stockholders' equity | ' | ' |
Preferred stock, par value (actual number) | $1 | $1 |
Preferred stock, shares authorized (actual number) | 200,000,000 | 200,000,000 |
Preferred stock, shares issued (actual number) | 1,846,250 | 1,115,750 |
Common stock, par value (actual number) | $1 | $1 |
Common stock, shares authorized (actual number) | 9,000,000,000 | 9,000,000,000 |
Common stock, shares issued (actual number) | 4,104,933,895 | 4,104,933,895 |
Shares held in RSU Trust, shares (actual number) | 472,953 | 476,642 |
Treasury stock, shares (actual number) | 343,652,985 | 348,825,583 |
Limited program-wide credit enhancement | 2,600,000,000 | 2,600,000,000 |
Trading assets | ' | ' |
Assets | ' | ' |
Assets Pledged | 128,995,000,000 | 106,299,000,000 |
Securities | ' | ' |
Assets | ' | ' |
Assets Pledged | 33,449,000,000 | 23,446,000,000 |
Other assets | ' | ' |
Assets | ' | ' |
Assets Pledged | 386,000,000 | 2,066,000,000 |
Fair Value | ' | ' |
Assets | ' | ' |
Securities borrowed | 111,800,000,000 | 107,700,000,000 |
Loans | 731,700,000,000 | 720,200,000,000 |
Other assets | 56,500,000,000 | 61,900,000,000 |
Liabilities | ' | ' |
Deposits | 1,312,100,000,000 | 1,281,500,000,000 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 213,900,000,000 | 175,700,000,000 |
Other borrowed funds | 19,300,000,000 | 14,700,000,000 |
Accounts payable and other liabilities, measured at fair value | 175,100,000,000 | 160,000,000,000 |
Long-term debt and junior subordinated deferrable interest debentures | 246,100,000,000 | 246,800,000,000 |
Recurring | Fair Value | ' | ' |
Assets | ' | ' |
Federal funds sold and securities purchased under resale agreements | 27,837,000,000 | 25,135,000,000 |
Securities borrowed | 2,134,000,000 | 3,739,000,000 |
Available-for-sale securities | 314,069,000,000 | 329,977,000,000 |
Loans | 4,303,000,000 | 2,011,000,000 |
Liabilities | ' | ' |
Deposits | 7,922,000,000 | 6,624,000,000 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 2,630,000,000 | 5,426,000,000 |
Other borrowed funds | 15,403,000,000 | 13,306,000,000 |
Accounts payable and other liabilities, measured at fair value | 45,000,000 | 25,000,000 |
Long-term debt and junior subordinated deferrable interest debentures | 31,142,000,000 | 28,878,000,000 |
Long Term Beneficial Interests | Recurring | Fair Value | ' | ' |
Liabilities | ' | ' |
Beneficial Interest, Fair Value Disclosure | 2,094,000,000 | 1,996,000,000 |
Other assets | Recurring | Fair Value | ' | ' |
Assets | ' | ' |
Other assets | $12,893,000,000 | $15,187,000,000 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (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, 2012 | ' | $9,058 | $4,105 | $94,604 | $104,223 | $4,102 | ($21) | ($12,002) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of preferred stock | ' | 2,400 | ' | ' | ' | ' | ' | ' |
Shares issued and commitments to issue common stock for employee stock-based compensation awards, and related tax effects | ' | ' | ' | -1,164 | ' | ' | ' | ' |
Other | ' | ' | ' | -24 | ' | ' | ' | ' |
Net income | 13,025 | ' | ' | ' | 13,025 | ' | ' | ' |
Dividends declared: | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock | ' | ' | ' | ' | -386 | ' | ' | ' |
Common stock ($0.78 and $0.68 per share) | ' | ' | ' | ' | -2,646 | ' | ' | ' |
Other comprehensive income/(loss) | -3,966 | ' | ' | ' | ' | -3,966 | ' | ' |
Purchase of treasury stock | ' | ' | ' | ' | ' | ' | ' | -3,750 |
Reissuance from treasury stock | ' | ' | ' | ' | ' | ' | ' | 1,681 |
Ending balance at Jun. 30, 2013 | 209,239 | 11,458 | 4,105 | 93,416 | 114,216 | 136 | -21 | -14,071 |
Beginning balance at Mar. 31, 2013 | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 6,496 | ' | ' | ' | ' | ' | ' | ' |
Dividends declared: | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income/(loss) | -3,355 | ' | ' | ' | ' | -3,355 | ' | ' |
Ending balance at Jun. 30, 2013 | 209,239 | ' | 4,105 | ' | ' | 136 | -21 | ' |
Beginning balance at Dec. 31, 2013 | ' | 11,158 | 4,105 | 93,828 | 115,756 | 1,199 | -21 | -14,847 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of preferred stock | ' | 7,305 | ' | ' | ' | ' | ' | ' |
Shares issued and commitments to issue common stock for employee stock-based compensation awards, and related tax effects | ' | ' | ' | -901 | ' | ' | ' | ' |
Other | ' | ' | ' | -48 | ' | ' | ' | ' |
Net income | 11,259 | ' | ' | ' | 11,259 | ' | ' | ' |
Dividends declared: | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock | ' | ' | ' | ' | -495 | ' | ' | ' |
Common stock ($0.78 and $0.68 per share) | ' | ' | ' | ' | -3,023 | ' | ' | ' |
Other comprehensive income/(loss) | 2,239 | ' | ' | ' | ' | 2,239 | ' | ' |
Purchase of treasury stock | ' | ' | ' | ' | ' | ' | ' | -1,761 |
Reissuance from treasury stock | ' | ' | ' | ' | ' | ' | ' | 1,561 |
Ending balance at Jun. 30, 2014 | 227,314 | 18,463 | 4,015 | 92,879 | 123,497 | 3,438 | -21 | -15,047 |
Beginning balance at Mar. 31, 2014 | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of preferred stock | ' | 3,380 | ' | ' | ' | ' | ' | ' |
Net income | 5,985 | ' | ' | ' | ' | ' | ' | ' |
Dividends declared: | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income/(loss) | 1,162 | ' | ' | ' | ' | 1,162 | ' | ' |
Ending balance at Jun. 30, 2014 | $227,314 | $18,463 | $4,015 | ' | ' | $3,438 | ($21) | ' |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Dividends declared: | ' | ' | ' | ' |
Common stock, dividends, per share | $0.40 | $0.38 | $0.78 | $0.68 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Operating activities | ' | ' |
Net income | $11,259 | $13,025 |
Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | ' | ' |
Provision for credit losses | 1,542 | 664 |
Depreciation and amortization | 2,163 | 2,105 |
Amortization of intangibles | 263 | 304 |
Deferred tax expense | 2,467 | 2,167 |
Investment securities gains | -42 | -633 |
Stock-based compensation | 1,142 | 1,227 |
Originations and purchases of loans held-for-sale | -34,940 | -44,974 |
Proceeds from sales, securitizations and paydowns of loans held-for-sale | 38,853 | 46,924 |
Net change in: | ' | ' |
Trading assets | -14,764 | 68,142 |
Securities borrowed | -2,507 | 1,877 |
Accrued interest and accounts receivable | -11,220 | -19,483 |
Other assets | 17,214 | -7,250 |
Trading liabilities | -7,140 | 8,194 |
Accounts payable and other liabilities | 1,736 | 19,768 |
Other operating adjustments | 4,270 | -3,573 |
Net cash provided by operating activities | 10,296 | 88,484 |
Investing activities | ' | ' |
Net change in deposits with banks | -77,858 | -189,630 |
Net change in federal funds sold and securities purchased under resale agreements | -1,427 | 43,431 |
Held-to-maturity securities: | ' | ' |
Proceeds from paydowns and maturities | 1,667 | 1 |
Purchases | -6,312 | 0 |
Available-for-sale securities: | ' | ' |
Proceeds from paydowns and maturities | 41,248 | 52,646 |
Proceeds from sales | 14,976 | 38,053 |
Purchases | -54,227 | -87,180 |
Proceeds from sales and securitizations of loans held-for-investment | 9,170 | 6,087 |
Other changes in loans, net | -24,730 | -3,785 |
Net cash used in business acquisitions or dispositions | -19 | -45 |
All other investing activities, net | -426 | -1,823 |
Net cash used in investing activities | -97,938 | -142,245 |
Financing activities | ' | ' |
Net change in deposits | 33,419 | -6,299 |
Net change in federal funds purchased and securities loaned or sold under repurchase agreements | 35,364 | 18,904 |
Net change in commercial paper and other borrowed funds | 11,119 | 4,927 |
Net change in beneficial interests issued by consolidated variable interest entities | -5,665 | -6,230 |
Proceeds from long-term borrowings and trust preferred securities | 36,469 | 62,016 |
Payments of long-term borrowings and trust preferred securities | -36,628 | -38,111 |
Excess tax benefits related to stock-based compensation | 357 | 88 |
Proceeds from issuance of preferred stock | 7,249 | 2,376 |
Treasury stock purchased | -1,761 | -3,750 |
Dividends paid | -3,360 | -2,727 |
All other financing activities, net | -1,127 | -1,086 |
Net cash provided by financing activities | 75,436 | 30,108 |
Effect of exchange rate changes on cash and due from banks | -42 | -856 |
Net decrease in cash and due from banks | -12,248 | -24,509 |
Cash and due from banks at the beginning of the period | 39,771 | 53,723 |
Cash and due from banks at the end of the period | 27,523 | 29,214 |
Cash interest paid | 4,007 | 4,735 |
Income Taxes Paid, Net | ($739) | $2,684 |
Basis_of_Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [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 and asset management. For a discussion of the Firm’s business segments, see Note 24. | |
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. | |
The unaudited Consolidated Financial Statements prepared in conformity with U.S. GAAP require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expense, and the disclosures of contingent assets and liabilities. Actual results could be different from these estimates. In the opinion of management, all normal, recurring adjustments have been included for a fair statement of this interim financial information. | |
These unaudited Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements, and related notes thereto, included in JPMorgan Chase’s Annual Report on Form 10-K for the year ended December 31, 2013, as filed with the U.S. Securities and Exchange Commission (the “2013 Annual Report”). | |
Certain amounts reported in prior periods have been reclassified to conform with the current presentation. | |
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. For further information on offsetting assets and liabilities, see Note 1 of JPMorgan Chase’s 2013 Annual Report. | |
Consolidated statements of cash flows | |
During the first quarter of 2014, the Firm transferred U.S. government agency mortgage-backed securities and obligations of U.S. states and municipalities with a fair value of $19.3 billion from available-for-sale (“AFS”) to held-to-maturity (“HTM”). This transfer was a non-cash transaction. For additional information regarding this transaction, see Note 11. |
Business_Changes_and_Developme
Business Changes and Developments | 6 Months Ended |
Jun. 30, 2014 | |
Business Changes and Developments [Abstract] | ' |
Business changes and developments | ' |
Business changes and developments | |
Business events | |
Regulatory Update | |
Comprehensive Capital Analysis and Review (“CCAR”) | |
On March 26, 2014, the Federal Reserve informed the Firm that it did not object, on either a quantitative or qualitative basis, to the Firm’s 2014 capital plan. | |
Basel III | |
Effective January 1, 2014, the Firm became subject to Basel III. Prior to January 1, 2014, the Firm and its banking subsidiaries were subject to the capital requirements of Basel I and Basel 2.5. Additionally, the Firm is approved to calculate capital under the Basel III Advanced Approach, in addition to the Basel III Standardized Approach effective April 1, 2014. | |
For further information on the implementation of Basel III, refer to Note 20. | |
Preferred stock issuances | |
During the three and six months ended June 30, 2014, the Firm issued $3.4 billion and $7.3 billion, respectively, of Non-Cumulative Preferred Stock. For further information on the Firm’s preferred stock, see Note 22 of JPMorgan Chase’s 2013 Annual Report. | |
Physical commodities businesses | |
The Firm continues to execute a business simplification agenda that will allow it to focus on core activities for its core clients and better manage its operational, regulatory, and litigation risks. On March 19, 2014, the Firm announced that it had agreed to sell certain of its physical commodities operations, including its physical oil, gas, power, warehousing facilities and energy transportation operations, to Mercuria Energy Group Limited. The after-tax impact of this transaction is not expected to be material. The sale is subject to normal regulatory approvals and is expected to close before the end of 2014. 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 the physical commodities operations sale. | |
Increase in common stock dividend | |
The Board of Directors increased the Firm’s quarterly common stock dividend from $0.38 per share to $0.40 per share, effective with the dividend paid on July 31, 2014, to shareholders of record on July 3, 2014. |
Fair_Value_Measurement
Fair Value Measurement | 6 Months Ended | ||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
Fair value measurement | ' | ||||||||||||||||||||||||||||||||
Fair value measurement | |||||||||||||||||||||||||||||||||
For a discussion of the Firm’s valuation methodologies for assets, liabilities and lending-related commitments measured at fair value and the fair value hierarchy, see Note 3 of JPMorgan Chase’s 2013 Annual Report. | |||||||||||||||||||||||||||||||||
The following table presents the asset and liabilities reported at fair value as of June 30, 2014, and December 31, 2013, by major product category and fair value hierarchy. | |||||||||||||||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis | |||||||||||||||||||||||||||||||||
Fair value hierarchy | Netting adjustments | ||||||||||||||||||||||||||||||||
June 30, 2014 (in millions) | Level 1 | Level 2 | Level 3 | Total fair value | |||||||||||||||||||||||||||||
Federal funds sold and securities purchased under resale agreements | $ | — | $ | 27,837 | $ | — | $ | — | $ | 27,837 | |||||||||||||||||||||||
Securities borrowed | — | 2,134 | — | — | 2,134 | ||||||||||||||||||||||||||||
Trading assets: | |||||||||||||||||||||||||||||||||
Debt instruments: | |||||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||||
U.S. government agencies(a) | 9 | 25,682 | 1,125 | — | 26,816 | ||||||||||||||||||||||||||||
Residential – nonagency | — | 1,622 | 543 | — | 2,165 | ||||||||||||||||||||||||||||
Commercial – nonagency | — | 1,265 | 327 | — | 1,592 | ||||||||||||||||||||||||||||
Total mortgage-backed securities | 9 | 28,569 | 1,995 | — | 30,573 | ||||||||||||||||||||||||||||
U.S. Treasury and government agencies(a) | 27,221 | 6,893 | — | — | 34,114 | ||||||||||||||||||||||||||||
Obligations of U.S. states and municipalities | — | 6,413 | 1,079 | — | 7,492 | ||||||||||||||||||||||||||||
Certificates of deposit, bankers’ acceptances and commercial paper | — | 1,918 | — | — | 1,918 | ||||||||||||||||||||||||||||
Non-U.S. government debt securities | 28,957 | 25,865 | 128 | — | 54,950 | ||||||||||||||||||||||||||||
Corporate debt securities | — | 27,357 | 4,793 | — | 32,150 | ||||||||||||||||||||||||||||
Loans(b) | — | 19,669 | 13,521 | — | 33,190 | ||||||||||||||||||||||||||||
Asset-backed securities | — | 3,090 | 1,216 | — | 4,306 | ||||||||||||||||||||||||||||
Total debt instruments | 56,187 | 119,774 | 22,732 | — | 198,693 | ||||||||||||||||||||||||||||
Equity securities | 112,284 | 846 | 704 | — | 113,834 | ||||||||||||||||||||||||||||
Physical commodities(c) | 5,337 | 4,212 | 3 | — | 9,552 | ||||||||||||||||||||||||||||
Other | — | 5,745 | 2,341 | — | 8,086 | ||||||||||||||||||||||||||||
Total debt and equity instruments(d) | 173,808 | 130,577 | 25,780 | — | 330,165 | ||||||||||||||||||||||||||||
Derivative receivables: | |||||||||||||||||||||||||||||||||
Interest rate | 496 | 815,033 | 4,772 | (791,472 | ) | 28,829 | |||||||||||||||||||||||||||
Credit | — | 78,004 | 3,048 | (78,088 | ) | 2,964 | |||||||||||||||||||||||||||
Foreign exchange | 464 | 111,149 | 1,638 | (101,626 | ) | 11,625 | |||||||||||||||||||||||||||
Equity | — | 47,293 | 2,501 | (40,417 | ) | 9,377 | |||||||||||||||||||||||||||
Commodity | 210 | 35,344 | 572 | (26,543 | ) | 9,583 | |||||||||||||||||||||||||||
Total derivative receivables(e) | 1,170 | 1,086,823 | 12,531 | (1,038,146 | ) | 62,378 | |||||||||||||||||||||||||||
Total trading assets | 174,978 | 1,217,400 | 38,311 | (1,038,146 | ) | 392,543 | |||||||||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||||
U.S. government agencies(a) | — | 64,512 | — | — | 64,512 | ||||||||||||||||||||||||||||
Residential – nonagency | — | 58,139 | 100 | — | 58,239 | ||||||||||||||||||||||||||||
Commercial – nonagency | — | 17,999 | 414 | — | 18,413 | ||||||||||||||||||||||||||||
Total mortgage-backed securities | — | 140,650 | 514 | — | 141,164 | ||||||||||||||||||||||||||||
U.S. Treasury and government agencies(a) | 19,230 | 129 | — | — | 19,359 | ||||||||||||||||||||||||||||
Obligations of U.S. states and municipalities | — | 28,086 | — | — | 28,086 | ||||||||||||||||||||||||||||
Certificates of deposit | — | 1,410 | — | — | 1,410 | ||||||||||||||||||||||||||||
Non-U.S. government debt securities | 26,024 | 31,821 | — | — | 57,845 | ||||||||||||||||||||||||||||
Corporate debt securities | — | 21,356 | — | — | 21,356 | ||||||||||||||||||||||||||||
Asset-backed securities: | |||||||||||||||||||||||||||||||||
Collateralized loan obligations | — | 27,652 | 798 | — | 28,450 | ||||||||||||||||||||||||||||
Other | — | 12,584 | 524 | — | 13,108 | ||||||||||||||||||||||||||||
Equity securities | 3,291 | — | — | — | 3,291 | ||||||||||||||||||||||||||||
Total available-for-sale securities | 48,545 | 263,688 | 1,836 | — | 314,069 | ||||||||||||||||||||||||||||
Loans | — | 76 | 4,227 | — | 4,303 | ||||||||||||||||||||||||||||
Mortgage servicing rights | — | — | 8,347 | — | 8,347 | ||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||
Private equity investments(f) | 339 | 318 | 4,883 | — | 5,540 | ||||||||||||||||||||||||||||
All other | 4,280 | 297 | 2,776 | — | 7,353 | ||||||||||||||||||||||||||||
Total other assets | 4,619 | 615 | 7,659 | — | 12,893 | ||||||||||||||||||||||||||||
Total assets measured at fair value on a recurring basis | $ | 228,142 | $ | 1,511,750 | (g) | $ | 60,380 | (g) | $ | (1,038,146 | ) | $ | 762,126 | ||||||||||||||||||||
Deposits | $ | — | $ | 5,084 | $ | 2,838 | $ | — | $ | 7,922 | |||||||||||||||||||||||
Federal funds purchased and securities loaned or sold under repurchase agreements | — | 2,630 | — | — | 2,630 | ||||||||||||||||||||||||||||
Other borrowed funds | — | 13,865 | 1,538 | — | 15,403 | ||||||||||||||||||||||||||||
Trading liabilities: | |||||||||||||||||||||||||||||||||
Debt and equity instruments(d) | 69,704 | 18,077 | 80 | — | 87,861 | ||||||||||||||||||||||||||||
Derivative payables: | |||||||||||||||||||||||||||||||||
Interest rate | 612 | 783,367 | 3,239 | (772,129 | ) | 15,089 | |||||||||||||||||||||||||||
Credit | — | 76,642 | 2,914 | (76,724 | ) | 2,832 | |||||||||||||||||||||||||||
Foreign exchange | 481 | 111,371 | 2,832 | (103,002 | ) | 11,682 | |||||||||||||||||||||||||||
Equity | — | 48,817 | 4,707 | (42,500 | ) | 11,024 | |||||||||||||||||||||||||||
Commodity | 121 | 36,046 | 694 | (26,693 | ) | 10,168 | |||||||||||||||||||||||||||
Total derivative payables(e) | 1,214 | 1,056,243 | 14,386 | (1,021,048 | ) | 50,795 | |||||||||||||||||||||||||||
Total trading liabilities | 70,918 | 1,074,320 | 14,466 | (1,021,048 | ) | 138,656 | |||||||||||||||||||||||||||
Accounts payable and other liabilities | — | — | 45 | — | 45 | ||||||||||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | — | 1,032 | 1,062 | — | 2,094 | ||||||||||||||||||||||||||||
Long-term debt | — | 19,396 | 11,746 | — | 31,142 | ||||||||||||||||||||||||||||
Total liabilities measured at fair value on a recurring basis | $ | 70,918 | $ | 1,116,327 | $ | 31,695 | $ | (1,021,048 | ) | $ | 197,892 | ||||||||||||||||||||||
Fair value hierarchy | Netting adjustments | ||||||||||||||||||||||||||||||||
December 31, 2013 (in millions) | Level 1 | Level 2 | Level 3 | 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 | ||||||||||||||||||||||
(a) | At June 30, 2014, and December 31, 2013, included total U.S. government-sponsored enterprise obligations of $80.6 billion and $91.5 billion, respectively, which were predominantly mortgage-related. | ||||||||||||||||||||||||||||||||
(b) | At June 30, 2014, and December 31, 2013, included within trading loans were $15.5 billion and $14.8 billion, respectively, of residential first-lien mortgages, and $4.4 billion and $2.1 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 $6.6 billion and $6.0 billion, respectively, and reverse mortgages of $3.7 billion and $3.6 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 5. 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 $4.2 billion and $7.6 billion at June 30, 2014, and December 31, 2013, 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 $6.3 billion and $8.0 billion at June 30, 2014, and December 31, 2013, 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 June 30, 2014, and December 31, 2013, the fair values of these investments were $2.2 billion and $3.2 billion, respectively, of which $590 million and $899 million, respectively, were classified in level 2, and $1.6 billion and $2.3 billion, respectively, in level 3. | ||||||||||||||||||||||||||||||||
Transfers between levels for instruments carried at fair value on a recurring basis | |||||||||||||||||||||||||||||||||
For the three and six months ended June 30, 2014 and 2013, there were no significant transfers between levels 1 and 2, or from level 2 into level 3. | |||||||||||||||||||||||||||||||||
During the three months ended June 30, 2014, transfers from level 3 into level 2 included $3.0 billion and $2.9 billion of equity derivative receivables and payables, respectively, due to increased observability of certain equity options. | |||||||||||||||||||||||||||||||||
During the three months ended March 31, 2013, certain highly rated collateralized loan obligations (“CLOs”), including $27.3 billion held in the Firm’s AFS securities portfolio and $1.3 billion held in the trading portfolio, were transferred from level 3 to level 2, based on increased liquidity and price transparency. | |||||||||||||||||||||||||||||||||
All transfers are assumed to occur at the beginning of the quarterly reporting period in which they occur. | |||||||||||||||||||||||||||||||||
Level 3 valuations | |||||||||||||||||||||||||||||||||
For further information on the Firm’s valuation process and a detailed discussion of the determination of fair value for individual financial instruments, see Note 3 of JPMorgan Chase’s 2013 Annual Report. | |||||||||||||||||||||||||||||||||
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; instead 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 at June 30, 2014, 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) | |||||||||||||||||||||||||||||||||
June 30, 2014 (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 | $ | 9,931 | Discounted cash flows | Yield | 2 | % | - | 15% | 6% | ||||||||||||||||||||||||
Prepayment speed | 0 | % | - | 21% | 6% | ||||||||||||||||||||||||||||
Conditional default rate | 0 | % | - | 100% | 29% | ||||||||||||||||||||||||||||
Loss severity | 0 | % | - | 100% | 22% | ||||||||||||||||||||||||||||
Commercial mortgage-backed securities and loans(b) | 2,500 | Discounted cash flows | Yield | 3 | % | - | 28% | 15% | |||||||||||||||||||||||||
Conditional default rate | 0 | % | - | 100% | 10% | ||||||||||||||||||||||||||||
Loss severity | 0 | % | - | 40% | 35% | ||||||||||||||||||||||||||||
Corporate debt securities, obligations of U.S. states and municipalities, and other(c) | 16,933 | Discounted cash flows | Credit spread | 53 bps | - | 365 bps | 167 bps | ||||||||||||||||||||||||||
Yield | 1 | % | - | 43% | 9% | ||||||||||||||||||||||||||||
4,078 | Market comparables | Price | — | - | 120 | 94 | |||||||||||||||||||||||||||
Net interest rate derivatives | 1,533 | Option pricing | Interest rate correlation | (75 | )% | - | 97% | ||||||||||||||||||||||||||
Interest rate spread volatility | 0 | % | - | 60% | |||||||||||||||||||||||||||||
Net credit derivatives(b)(c) | 134 | Discounted cash flows | Credit correlation | 44 | % | - | 86% | ||||||||||||||||||||||||||
Net foreign exchange derivatives | (1,194 | ) | Option pricing | Foreign exchange correlation | 48 | % | - | 75% | |||||||||||||||||||||||||
Net equity derivatives | (2,206 | ) | Option pricing | Equity volatility | 20 | % | - | 50% | |||||||||||||||||||||||||
Net commodity derivatives | (122 | ) | Discounted cash flows | Forward commodity price | $ | 20 | - | $160 | per megawatt hour | ||||||||||||||||||||||||
Collateralized loan obligations | 798 | Discounted cash flows | Credit spread | 240 bps | - | 500 bps | 252 bps | ||||||||||||||||||||||||||
Prepayment speed | 20% | 20% | |||||||||||||||||||||||||||||||
Conditional default rate | 2% | 2% | |||||||||||||||||||||||||||||||
Loss severity | 40% | 40% | |||||||||||||||||||||||||||||||
379 | Market comparables | Price | 0 | - | 108 | 79 | |||||||||||||||||||||||||||
Mortgage servicing rights (“MSRs”) | 8,347 | Discounted cash flows | Refer to Note 16. | ||||||||||||||||||||||||||||||
Private equity direct investments | 4,419 | Market comparables | EBITDA multiple | 2.7x | - | 12.3x | 7.6x | ||||||||||||||||||||||||||
Liquidity adjustment | 0 | % | - | 49% | 13% | ||||||||||||||||||||||||||||
Private equity fund investments | 464 | Net asset value | Net asset value(e) | ||||||||||||||||||||||||||||||
Long-term debt, other borrowed funds, and deposits(d) | 14,763 | Option pricing | Interest rate correlation | (75 | )% | - | 97% | ||||||||||||||||||||||||||
Foreign exchange correlation | 0 | % | - | 75% | |||||||||||||||||||||||||||||
Equity correlation | (55 | )% | - | 80% | |||||||||||||||||||||||||||||
1,359 | Discounted cash flows | Credit correlation | 44 | % | - | 86% | |||||||||||||||||||||||||||
(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 $389 million of credit derivative receivables and $342 million of credit derivative payables with underlying commercial 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 $1.1 billion of credit derivative receivables and $972 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) | 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. | ||||||||||||||||||||||||||||||||
(e) | 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 | |||||||||||||||||||||||||||||||||
For a discussion of the impact on fair value of changes in unobservable inputs and the relationships between unobservable inputs as well as 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 see Note 3 of JPMorgan Chase’s 2013 Annual Report. | |||||||||||||||||||||||||||||||||
Changes in level 3 recurring fair value measurements | |||||||||||||||||||||||||||||||||
The following tables include a rollforward of the Consolidated Balance Sheets amounts (including changes in fair value) for financial instruments classified by the Firm within level 3 of the fair value hierarchy for the three and six months ended June 30, 2014 and 2013. 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 or 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 | |||||||||||||||||||||||||||||||||
Three months ended June 30, 2014 | Fair value at April 1, 2014 | Total realized/unrealized gains/(losses) | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized gains/(losses) related | ||||||||||||||||||||||||||||
(in millions) | Purchases(g) | Sales | Settlements | 30-Jun-14 | to financial instruments held at June 30, 2014 | ||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||
Trading assets: | |||||||||||||||||||||||||||||||||
Debt instruments: | |||||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||||
U.S. government agencies | $ | 1,150 | $ | 27 | $ | 12 | $ | (12 | ) | $ | (33 | ) | $ | (19 | ) | $ | 1,125 | $ | 28 | ||||||||||||||
Residential – nonagency | 715 | 67 | 181 | (314 | ) | (12 | ) | (94 | ) | 543 | 21 | ||||||||||||||||||||||
Commercial – nonagency | 465 | 8 | 260 | (187 | ) | (34 | ) | (185 | ) | 327 | — | ||||||||||||||||||||||
Total mortgage-backed securities | 2,330 | 102 | 453 | (513 | ) | (79 | ) | (298 | ) | 1,995 | 49 | ||||||||||||||||||||||
Obligations of U.S. states and municipalities | 1,219 | (35 | ) | — | (105 | ) | — | 1,079 | (44 | ) | |||||||||||||||||||||||
Non-U.S. government debt securities | 52 | 3 | 25 | (3 | ) | (1 | ) | 52 | 128 | 3 | |||||||||||||||||||||||
Corporate debt securities | 4,873 | 130 | 1,163 | (663 | ) | (823 | ) | 113 | 4,793 | 74 | |||||||||||||||||||||||
Loans | 12,521 | 372 | 3,129 | (1,108 | ) | (1,172 | ) | (221 | ) | 13,521 | 376 | ||||||||||||||||||||||
Asset-backed securities | 1,156 | 46 | 807 | (776 | ) | (151 | ) | 134 | 1,216 | 32 | |||||||||||||||||||||||
Total debt instruments | 22,151 | 618 | 5,577 | (3,168 | ) | (2,226 | ) | (220 | ) | 22,732 | 490 | ||||||||||||||||||||||
Equity securities | 885 | 18 | 49 | (56 | ) | (25 | ) | (167 | ) | 704 | 83 | ||||||||||||||||||||||
Physical commodities | 3 | — | — | — | — | — | 3 | — | |||||||||||||||||||||||||
Other | 1,284 | 266 | 656 | (127 | ) | (67 | ) | 329 | 2,341 | 173 | |||||||||||||||||||||||
Total trading assets – debt and equity instruments | 24,323 | 902 | (c) | 6,282 | (3,351 | ) | (2,318 | ) | (58 | ) | 25,780 | 746 | (c) | ||||||||||||||||||||
Net derivative receivables:(a) | |||||||||||||||||||||||||||||||||
Interest rate | 2,090 | 2 | 50 | (63 | ) | (427 | ) | (119 | ) | 1,533 | (49 | ) | |||||||||||||||||||||
Credit | 244 | (124 | ) | 164 | (21 | ) | (79 | ) | (50 | ) | 134 | (91 | ) | ||||||||||||||||||||
Foreign exchange | (1,282 | ) | (143 | ) | 33 | (3 | ) | 206 | (5 | ) | (1,194 | ) | (141 | ) | |||||||||||||||||||
Equity | (1,060 | ) | (774 | ) | 46 | (521 | ) | 327 | (224 | ) | (2,206 | ) | (204 | ) | |||||||||||||||||||
Commodity | (58 | ) | (18 | ) | — | — | 29 | (75 | ) | (122 | ) | 16 | |||||||||||||||||||||
Total net derivative receivables | (66 | ) | (1,057 | ) | (c) | 293 | (608 | ) | 56 | (473 | ) | (1,855 | ) | (469 | ) | (c) | |||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||||||
Asset-backed securities | 1,127 | (9 | ) | 225 | — | (21 | ) | — | 1,322 | (9 | ) | ||||||||||||||||||||||
Other | 1,190 | 1 | 122 | — | (27 | ) | (772 | ) | 514 | 2 | |||||||||||||||||||||||
Total available-for-sale securities | 2,317 | (8 | ) | (d) | 347 | — | (48 | ) | (772 | ) | 1,836 | (7 | ) | (d) | |||||||||||||||||||
Loans | 2,271 | 40 | (c) | 2,396 | — | (480 | ) | — | 4,227 | 21 | (c) | ||||||||||||||||||||||
Mortgage servicing rights | 8,552 | (149 | ) | (e) | 181 | 2 | (239 | ) | — | 8,347 | (149 | ) | (e) | ||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||
Private equity investments | 5,335 | 168 | (c) | 22 | (469 | ) | (132 | ) | (41 | ) | 4,883 | 131 | (c) | ||||||||||||||||||||
All other | 2,984 | 47 | (f) | 62 | (117 | ) | (200 | ) | — | 2,776 | 47 | (f) | |||||||||||||||||||||
Fair value measurements using significant unobservable inputs | |||||||||||||||||||||||||||||||||
Three months ended June 30, 2014 | Fair value at April 1, 2014 | Total realized/unrealized (gains)/losses | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized (gains)/losses related | ||||||||||||||||||||||||||||
(in millions) | Purchases | Sales | Issuances | Settlements | 30-Jun-14 | to financial instruments held at June 30, 2014 | |||||||||||||||||||||||||||
Liabilities:(b) | |||||||||||||||||||||||||||||||||
Deposits | $ | 2,386 | $ | 74 | (c) | $ | — | $ | — | $ | 519 | $ | (24 | ) | $ | (117 | ) | $ | 2,838 | $ | 63 | (c) | |||||||||||
Other borrowed funds | 1,535 | (132 | ) | (c) | — | — | 1,343 | (1,380 | ) | 172 | 1,538 | (30 | ) | (c) | |||||||||||||||||||
Trading liabilities – debt and equity instruments | 101 | (4 | ) | (c) | (46 | ) | 71 | — | (4 | ) | (38 | ) | 80 | 1 | (c) | ||||||||||||||||||
Accounts payable and other liabilities | 18 | 27 | (c) | — | — | — | — | — | 45 | 27 | (c) | ||||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | 1,160 | 54 | (c) | — | — | 4 | (54 | ) | (102 | ) | 1,062 | 58 | (c) | ||||||||||||||||||||
Long-term debt | 11,203 | 437 | (c) | — | — | 1,912 | (1,369 | ) | (437 | ) | 11,746 | 410 | (c) | ||||||||||||||||||||
Fair value measurements using significant unobservable inputs | |||||||||||||||||||||||||||||||||
Three months ended June 30, 2013 | Fair value at April 1, 2013 | Total realized/unrealized gains/(losses) | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized gains/(losses) related | ||||||||||||||||||||||||||||
(in millions) | 30-Jun-13 | to financial instruments held at June 30, 2013 | |||||||||||||||||||||||||||||||
Purchases(g) | Sales | Settlements | |||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||
Trading assets: | |||||||||||||||||||||||||||||||||
Debt instruments: | |||||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||||
U.S. government agencies | $ | 819 | $ | 106 | $ | 2 | $ | — | $ | (26 | ) | $ | — | $ | 901 | $ | 114 | ||||||||||||||||
Residential – nonagency | 633 | 203 | 135 | (336 | ) | (20 | ) | — | 615 | 135 | |||||||||||||||||||||||
Commercial – nonagency | 1,151 | (39 | ) | 302 | (113 | ) | (30 | ) | — | 1,271 | (49 | ) | |||||||||||||||||||||
Total mortgage-backed securities | 2,603 | 270 | 439 | (449 | ) | (76 | ) | — | 2,787 | 200 | |||||||||||||||||||||||
Obligations of U.S. states and municipalities | 1,432 | (23 | ) | 52 | (37 | ) | (203 | ) | — | 1,221 | (22 | ) | |||||||||||||||||||||
Non-U.S. government debt securities | 85 | 9 | 333 | (397 | ) | (4 | ) | 110 | 136 | 11 | |||||||||||||||||||||||
Corporate debt securities | 4,852 | (41 | ) | 2,251 | (955 | ) | (822 | ) | 450 | 5,735 | 28 | ||||||||||||||||||||||
Loans | 10,032 | 41 | 3,782 | (2,265 | ) | (688 | ) | 38 | 10,940 | 21 | |||||||||||||||||||||||
Asset-backed securities | 1,579 | 95 | 444 | (557 | ) | (12 | ) | (121 | ) | 1,428 | 56 | ||||||||||||||||||||||
Total debt instruments | 20,583 | 351 | 7,301 | (4,660 | ) | (1,805 | ) | 477 | 22,247 | 294 | |||||||||||||||||||||||
Equity securities | 1,172 | (10 | ) | 111 | (57 | ) | (56 | ) | (121 | ) | 1,039 | (8 | ) | ||||||||||||||||||||
Physical commodities | — | — | — | — | — | 16 | 16 | — | |||||||||||||||||||||||||
Other | 948 | 43 | 54 | (18 | ) | (52 | ) | 130 | 1,105 | 38 | |||||||||||||||||||||||
Total trading assets – debt and equity instruments | 22,703 | 384 | (c) | 7,466 | (4,735 | ) | (1,913 | ) | 502 | 24,407 | 324 | (c) | |||||||||||||||||||||
Net derivative receivables:(a) | |||||||||||||||||||||||||||||||||
Interest rate | 2,791 | 125 | 46 | (63 | ) | (989 | ) | 191 | 2,101 | 156 | |||||||||||||||||||||||
Credit | 1,317 | (335 | ) | 3 | (1 | ) | (76 | ) | 13 | 921 | (360 | ) | |||||||||||||||||||||
Foreign exchange | (1,516 | ) | 161 | 8 | — | 137 | (8 | ) | (1,218 | ) | 71 | ||||||||||||||||||||||
Equity | (1,000 | ) | (323 | ) | (i) | 465 | (i) | (568 | ) | (i) | (588 | ) | (277 | ) | (2,291 | ) | 654 | ||||||||||||||||
Commodity | 182 | 295 | — | — | (412 | ) | 6 | 71 | 63 | ||||||||||||||||||||||||
Total net derivative receivables | 1,774 | (77 | ) | (c) | 522 | (632 | ) | (1,928 | ) | (75 | ) | (416 | ) | 584 | (c) | ||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||||||
Asset-backed securities | 1,130 | — | — | — | (5 | ) | — | 1,125 | — | ||||||||||||||||||||||||
Other | 837 | — | 7 | — | (20 | ) | — | 824 | — | ||||||||||||||||||||||||
Total available-for-sale securities | 1,967 | — | (d) | 7 | — | (25 | ) | — | 1,949 | — | (d) | ||||||||||||||||||||||
Loans | 2,064 | 6 | (c) | 103 | (7 | ) | (323 | ) | — | 1,843 | 9 | (c) | |||||||||||||||||||||
Mortgage servicing rights | 7,949 | 1,038 | (e) | 655 | (19 | ) | (288 | ) | — | 9,335 | 1,038 | (e) | |||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||
Private equity investments | 6,831 | 434 | (c) | 122 | (7 | ) | (275 | ) | — | 7,105 | 206 | (c) | |||||||||||||||||||||
All other | 3,985 | 1 | (f) | 83 | (292 | ) | (97 | ) | — | 3,680 | (11 | ) | (f) | ||||||||||||||||||||
Fair value measurements using significant unobservable inputs | |||||||||||||||||||||||||||||||||
Three months ended June 30, 2013 | Fair value at April 1, 2013 | Total realized/unrealized (gains)/losses | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized (gains)/ | ||||||||||||||||||||||||||||
(in millions) | 30-Jun-13 | losses related | |||||||||||||||||||||||||||||||
Purchases | Sales | Issuances | Settlements | to financial instruments held at June 30, 2013 | |||||||||||||||||||||||||||||
Liabilities:(b) | |||||||||||||||||||||||||||||||||
Deposits | $ | 2,015 | $ | (110 | ) | (c) | $ | — | $ | — | $ | 316 | $ | (44 | ) | $ | 13 | $ | 2,190 | $ | (110 | ) | (c) | ||||||||||
Other borrowed funds | 2,137 | (243 | ) | (c) | — | — | 2,389 | (1,695 | ) | 85 | 2,673 | 33 | (c) | ||||||||||||||||||||
Trading liabilities – debt and equity instruments | 251 | (60 | ) | (c) | (374 | ) | 454 | — | (21 | ) | (146 | ) | 104 | (48 | ) | (c) | |||||||||||||||||
Accounts payable and other liabilities | 33 | — | — | — | — | (1 | ) | — | 32 | — | |||||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | 818 | 59 | (c) | — | — | 30 | (44 | ) | — | 863 | 54 | (c) | |||||||||||||||||||||
Long-term debt | 9,084 | (430 | ) | (c) | — | — | 1,878 | (1,246 | ) | (84 | ) | 9,202 | (292 | ) | (c) | ||||||||||||||||||
Fair value measurements using significant unobservable inputs | |||||||||||||||||||||||||||||||||
Six months ended | Fair value at January 1, 2014 | Total realized/unrealized gains/(losses) | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized gains/(losses) related | ||||||||||||||||||||||||||||
30-Jun-14 | 30-Jun-14 | to financial instruments held at June 30, 2014 | |||||||||||||||||||||||||||||||
(in millions) | Purchases(g) | Sales | Settlements | ||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||
Trading assets: | |||||||||||||||||||||||||||||||||
Debt instruments: | |||||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||||
U.S. government agencies | $ | 1,005 | $ | 30 | $ | 343 | $ | (174 | ) | $ | (60 | ) | $ | (19 | ) | $ | 1,125 | $ | 32 | ||||||||||||||
Residential – nonagency | 726 | 91 | 373 | (514 | ) | (24 | ) | (109 | ) | 543 | 29 | ||||||||||||||||||||||
Commercial – nonagency | 432 | 28 | 581 | (481 | ) | (48 | ) | (185 | ) | 327 | 4 | ||||||||||||||||||||||
Total mortgage-backed securities | 2,163 | 149 | 1,297 | (1,169 | ) | (132 | ) | (313 | ) | 1,995 | 65 | ||||||||||||||||||||||
Obligations of U.S. states and municipalities | 1,382 | (13 | ) | — | (290 | ) | — | — | 1,079 | 7 | |||||||||||||||||||||||
Non-U.S. government debt securities | 143 | 19 | 435 | (519 | ) | (2 | ) | 52 | 128 | 24 | |||||||||||||||||||||||
Corporate debt securities | 5,920 | 368 | 2,360 | (2,015 | ) | (1,664 | ) | (176 | ) | 4,793 | 280 | ||||||||||||||||||||||
Loans | 13,455 | 691 | 5,287 | (2,902 | ) | (2,718 | ) | (292 | ) | 13,521 | 882 | ||||||||||||||||||||||
Asset-backed securities | 1,272 | 70 | 1,357 | (1,332 | ) | (171 | ) | 20 | 1,216 | 43 | |||||||||||||||||||||||
Total debt instruments | 24,335 | 1,284 | 10,736 | (8,227 | ) | (4,687 | ) | (709 | ) | 22,732 | 1,301 | ||||||||||||||||||||||
Equity securities | 885 | 99 | 85 | (75 | ) | (34 | ) | (256 | ) | 704 | 147 | ||||||||||||||||||||||
Physical commodities | 4 | — | — | — | (1 | ) | — | 3 | — | ||||||||||||||||||||||||
Other | 2,000 | 169 | 710 | (178 | ) | (95 | ) | (265 | ) | 2,341 | 146 | ||||||||||||||||||||||
Total trading assets – debt and equity instruments | 27,224 | 1,552 | (c) | 11,531 | (8,480 | ) | (4,817 | ) | (1,230 | ) | 25,780 | 1,594 | (c) | ||||||||||||||||||||
Net derivative receivables:(a) | |||||||||||||||||||||||||||||||||
Interest rate | 2,379 | 26 | 98 | (106 | ) | (765 | ) | (99 | ) | 1,533 | (690 | ) | |||||||||||||||||||||
Credit | 95 | (239 | ) | 222 | (21 | ) | 127 | (50 | ) | 134 | (186 | ) | |||||||||||||||||||||
Foreign exchange | (1,200 | ) | (342 | ) | 94 | (19 | ) | 255 | 18 | (1,194 | ) | (291 | ) | ||||||||||||||||||||
Equity | (1,063 | ) | (703 | ) | 847 | (1,554 | ) | 452 | (185 | ) | (2,206 | ) | 343 | ||||||||||||||||||||
Commodity | 115 | (172 | ) | 1 | — | (13 | ) | (53 | ) | (122 | ) | (156 | ) | ||||||||||||||||||||
Total net derivative receivables | 326 | (1,430 | ) | (c) | 1,262 | (1,700 | ) | 56 | (369 | ) | (1,855 | ) | (980 | ) | (c) | ||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||||||
Asset-backed securities | 1,088 | (11 | ) | 225 | (2 | ) | (41 | ) | 63 | 1,322 | (11 | ) | |||||||||||||||||||||
Other | 1,234 | (2 | ) | 122 | — | (68 | ) | (772 | ) | 514 | (1 | ) | |||||||||||||||||||||
Total available-for-sale securities | 2,322 | (13 | ) | (d) | 347 | (2 | ) | (109 | ) | (709 | ) | 1,836 | (12 | ) | (d) | ||||||||||||||||||
Loans | 1,931 | 72 | (c) | 3,080 | (142 | ) | (714 | ) | — | 4,227 | 47 | (c) | |||||||||||||||||||||
Mortgage servicing rights | 9,614 | (971 | ) | (e) | 376 | (186 | ) | (486 | ) | — | 8,347 | (971 | ) | (e) | |||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||
Private equity investments | 6,474 | 264 | (c) | 109 | (1,487 | ) | (436 | ) | (41 | ) | 4,883 | 119 | (c) | ||||||||||||||||||||
All other | 3,176 | (26 | ) | (f) | 135 | (154 | ) | (355 | ) | — | 2,776 | (26 | ) | (f) | |||||||||||||||||||
Fair value measurements using significant unobservable inputs | |||||||||||||||||||||||||||||||||
Six months ended | Fair value at January 1, 2014 | Total realized/unrealized (gains)/losses | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized (gains)/losses related | ||||||||||||||||||||||||||||
30-Jun-14 | 30-Jun-14 | to financial instruments held at June 30, 2014 | |||||||||||||||||||||||||||||||
(in millions) | Purchases | Sales | Issuances | Settlements | |||||||||||||||||||||||||||||
Liabilities:(b) | |||||||||||||||||||||||||||||||||
Deposits | $ | 2,255 | $ | 111 | (c) | $ | — | $ | — | $ | 809 | $ | (66 | ) | $ | (271 | ) | $ | 2,838 | $ | 98 | (c) | |||||||||||
Other borrowed funds | 2,074 | (93 | ) | (c) | — | — | 2,676 | (3,487 | ) | 368 | 1,538 | 84 | (c) | ||||||||||||||||||||
Trading liabilities – debt and equity instruments | 113 | (4 | ) | (c) | (262 | ) | 279 | — | (8 | ) | (38 | ) | 80 | 1 | (c) | ||||||||||||||||||
Accounts payable and other liabilities | 25 | 27 | (c) | — | — | — | (7 | ) | — | 45 | 27 | (c) | |||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | 1,240 | 101 | (c) | — | — | 82 | (259 | ) | (102 | ) | 1,062 | 88 | (c) | ||||||||||||||||||||
Long-term debt | 10,008 | 539 | (c) | — | — | 3,744 | (2,379 | ) | (166 | ) | 11,746 | 585 | (c) | ||||||||||||||||||||
Fair value measurements using significant unobservable inputs | |||||||||||||||||||||||||||||||||
Six months ended | Fair value at January 1, 2013 | Total realized/unrealized gains/(losses) | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized gains/(losses) related | ||||||||||||||||||||||||||||
30-Jun-13 | 30-Jun-13 | to financial instruments held at June 30, 2013 | |||||||||||||||||||||||||||||||
(in millions) | Purchases(g) | Sales | Settlements | ||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||
Trading assets: | |||||||||||||||||||||||||||||||||
Debt instruments: | |||||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||||
U.S. government agencies | $ | 498 | $ | 140 | $ | 393 | $ | (79 | ) | $ | (51 | ) | $ | — | $ | 901 | $ | 153 | |||||||||||||||
Residential – nonagency | 663 | 312 | 434 | (740 | ) | (49 | ) | (5 | ) | 615 | 177 | ||||||||||||||||||||||
Commercial – nonagency | 1,207 | (125 | ) | 439 | (178 | ) | (72 | ) | — | 1,271 | (142 | ) | |||||||||||||||||||||
Total mortgage-backed securities | 2,368 | 327 | 1,266 | (997 | ) | (172 | ) | (5 | ) | 2,787 | 188 | ||||||||||||||||||||||
Obligations of U.S. states and municipalities | 1,436 | 18 | 53 | (83 | ) | (203 | ) | — | 1,221 | 17 | |||||||||||||||||||||||
Non-U.S. government debt securities | 67 | 11 | 634 | (682 | ) | (4 | ) | 110 | 136 | 11 | |||||||||||||||||||||||
Corporate debt securities | 5,308 | (124 | ) | 5,178 | (3,518 | ) | (1,447 | ) | 338 | 5,735 | 30 | ||||||||||||||||||||||
Loans | 10,787 | (131 | ) | 5,408 | (3,750 | ) | (1,391 | ) | 17 | 10,940 | (229 | ) | |||||||||||||||||||||
Asset-backed securities | 3,696 | 159 | 1,040 | (1,534 | ) | (147 | ) | (1,786 | ) | 1,428 | 74 | ||||||||||||||||||||||
Total debt instruments | 23,662 | 260 | 13,579 | (10,564 | ) | (3,364 | ) | (1,326 | ) | 22,247 | 91 | ||||||||||||||||||||||
Equity securities | 1,114 | (9 | ) | 204 | (148 | ) | (65 | ) | (57 | ) | 1,039 | (28 | ) | ||||||||||||||||||||
Physical commodities | — | — | — | — | — | 16 | 16 | — | |||||||||||||||||||||||||
Other | 863 | 87 | 126 | (20 | ) | (81 | ) | 130 | 1,105 | 139 | |||||||||||||||||||||||
Total trading assets – debt and equity instruments | 25,639 | 338 | (c) | 13,909 | (10,732 | ) | (3,510 | ) | (1,237 | ) | 24,407 | 202 | (c) | ||||||||||||||||||||
Net derivative receivables:(a) | |||||||||||||||||||||||||||||||||
Interest rate | 3,322 | 431 | 115 | (125 | ) | (1,847 | ) | 205 | 2,101 | 45 | |||||||||||||||||||||||
Credit | 1,873 | (824 | ) | 50 | (1 | ) | (189 | ) | 12 | 921 | (836 | ) | |||||||||||||||||||||
Foreign exchange | (1,750 | ) | 45 | (7 | ) | (3 | ) | 513 | (16 | ) | (1,218 | ) | (5 | ) | |||||||||||||||||||
Equity | (1,806 | ) | 539 | (i) | 536 | (i) | (647 | ) | (i) | (810 | ) | (103 | ) | (2,291 | ) | 604 | |||||||||||||||||
Commodity | 254 | 653 | 11 | (3 | ) | (854 | ) | 10 | 71 | 240 | |||||||||||||||||||||||
Total net derivative receivables | 1,893 | 844 | (c) | 705 | (779 | ) | (3,187 | ) | 108 | (416 | ) | 48 | (c) | ||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||||||
Asset-backed securities | 28,024 | 5 | 400 | — | (44 | ) | (27,260 | ) | 1,125 | 5 | |||||||||||||||||||||||
Other | 892 | (9 | ) | 7 | (13 | ) | (53 | ) | — | 824 | 3 | ||||||||||||||||||||||
Total available-for-sale securities | 28,916 | (4 | ) | (d) | 407 | (13 | ) | (97 | ) | (27,260 | ) | 1,949 | 8 | (d) | |||||||||||||||||||
Loans | 2,282 | (29 | ) | (c) | 328 | (56 | ) | (682 | ) | — | 1,843 | (43 | ) | (c) | |||||||||||||||||||
Mortgage servicing rights | 7,614 | 1,347 | (e) | 1,339 | (418 | ) | (547 | ) | — | 9,335 | 1,347 | (e) | |||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||
Private equity investments | 7,181 | 165 | (c) | 203 | (103 | ) | (341 | ) | — | 7,105 | (188 | ) | (c) | ||||||||||||||||||||
All other | 4,258 | (25 | ) | (f) | 135 | (295 | ) | (393 | ) | — | 3,680 | (41 | ) | (f) | |||||||||||||||||||
Fair value measurements using significant unobservable inputs | |||||||||||||||||||||||||||||||||
Six months ended | Fair value at January 1, 2013 | Total realized/unrealized (gains)/losses | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized (gains)/losses related | ||||||||||||||||||||||||||||
30-Jun-13 | 30-Jun-13 | to financial instruments held at June 30, 2013 | |||||||||||||||||||||||||||||||
(in millions) | Purchases | Sales | Issuances | Settlements | |||||||||||||||||||||||||||||
Liabilities:(b) | |||||||||||||||||||||||||||||||||
Deposits | $ | 1,983 | $ | (105 | ) | (c) | $ | — | $ | — | $ | 612 | $ | (157 | ) | $ | (143 | ) | $ | 2,190 | $ | (97 | ) | (c) | |||||||||
Other borrowed funds | 1,619 | (269 | ) | (c) | — | — | 4,151 | (2,919 | ) | 91 | 2,673 | 74 | (c) | ||||||||||||||||||||
Trading liabilities – debt and equity instruments | 205 | (68 | ) | (c) | (1,859 | ) | 2,006 | — | (34 | ) | (146 | ) | 104 | (78 | ) | (c) | |||||||||||||||||
Accounts payable and other liabilities | 36 | 1 | (f) | — | — | — | (5 | ) | — | 32 | 1 | (f) | |||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | 925 | 25 | (c) | — | — | 51 | (138 | ) | — | 863 | 26 | (c) | |||||||||||||||||||||
Long-term debt | 8,476 | (905 | ) | (c) | — | — | 3,733 | (1,603 | ) | (499 | ) | 9,202 | (321 | ) | (c) | ||||||||||||||||||
(a) | All level 3 derivatives are presented on a net basis, irrespective of the 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 16% and 18% at June 30, 2014, and December 31, 2013, 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 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 $(11) million and $3 million for the three months ended June 30, 2014 and 2013, and $(12) million and $(15) million for the six months ended June 30, 2014 and 2013, respectively. Unrealized gains/(losses) recorded on AFS securities in OCI were $3 million and $(3) million for the three months ended June 30, 2014 and 2013 and $(1) million and $11 million for the six months ended June 30, 2014 and 2013, respectively. | ||||||||||||||||||||||||||||||||
(e) | Changes in fair value for CCB mortgage servicing rights are reported in mortgage fees and related income. | ||||||||||||||||||||||||||||||||
(f) | Predominantly 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. | ||||||||||||||||||||||||||||||||
(i) | The prior period amounts have been revised. The revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | ||||||||||||||||||||||||||||||||
Level 3 analysis | |||||||||||||||||||||||||||||||||
Consolidated Balance Sheets changes | |||||||||||||||||||||||||||||||||
Level 3 assets (including assets measured at fair value on a nonrecurring basis) were 2.5% of total Firm assets at June 30, 2014. The following describes significant changes to level 3 assets since December 31, 2013, 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 107. | |||||||||||||||||||||||||||||||||
Three months ended June 30, 2014 | |||||||||||||||||||||||||||||||||
Level 3 assets were $60.4 billion at June 30, 2014, reflecting a decrease of $2.8 billion from March 31, 2014, largely due to the following: | |||||||||||||||||||||||||||||||||
• | $4.9 billion decrease in derivative receivables, largely driven by client-driven market-making activity and a transfer of equity derivative receivables from level 3 to level 2 due to increase in observability of certain equity options; | ||||||||||||||||||||||||||||||||
• | $2.0 billion increase in loans due to originations; | ||||||||||||||||||||||||||||||||
• | $1.5 billion increase in trading assets - debt and equity instruments largely driven by trading loans purchases and new client-driven financing transactions; | ||||||||||||||||||||||||||||||||
Six months ended June 30, 2014 | |||||||||||||||||||||||||||||||||
Level 3 assets decreased by $8.9 billion in the first six months of 2014, mainly due to the following: | |||||||||||||||||||||||||||||||||
• | $6.0 billion decrease in derivative receivable, predominantly driven by equity derivative receivables due to maturities and a transfer from level 3 to level 2 as a result of increase in observability of certain equity options; | ||||||||||||||||||||||||||||||||
• | $2.3 billion increase in loans due to originations; | ||||||||||||||||||||||||||||||||
• | $1.6 billion decrease in private equity investments, driven by sales of investments. | ||||||||||||||||||||||||||||||||
• | $1.4 billion decrease in trading assets - debt and equity instruments, largely driven by net sales and maturities of corporate debt securities. | ||||||||||||||||||||||||||||||||
• | $1.3 million decrease in MSRs. For further discussion of the change, refer to Note 16; | ||||||||||||||||||||||||||||||||
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 periods indicated. For further information on these instruments, see Changes in level 3 recurring fair value measurements rollforward tables on pages 99–106. | |||||||||||||||||||||||||||||||||
Three months ended June 30, 2014 | |||||||||||||||||||||||||||||||||
• | $1.1 billion net losses on derivatives, largely due to client-driven market-making activities in equity derivatives. | ||||||||||||||||||||||||||||||||
Three months ended June 30, 2013 | |||||||||||||||||||||||||||||||||
• | $1.0 billion of gains on MSRs. For further discussion of the change, refer to Note 16. | ||||||||||||||||||||||||||||||||
Six months ended June 30, 2014 | |||||||||||||||||||||||||||||||||
• | $1.6 billion of net gains in trading assets - debt and equity instruments, largely driven by client-driven activities in corporate debt and trading loans; | ||||||||||||||||||||||||||||||||
• | $1.4 billion of net losses on derivatives, largely driven by foreign exchange derivatives due to fluctuations in foreign exchange rates and client-driven market-making activities in equity derivatives. | ||||||||||||||||||||||||||||||||
• | $1.0 billion of losses on MSRs. For further discussion of the change, refer to Note 16. | ||||||||||||||||||||||||||||||||
Six months ended June 30, 2013 | |||||||||||||||||||||||||||||||||
• | $1.3 billion of gains on MSRs. For further discussion of the change, refer to Note 16. | ||||||||||||||||||||||||||||||||
• | $(905) million of gains on long-term debt, due to market movements. | ||||||||||||||||||||||||||||||||
Credit & funding adjustments | |||||||||||||||||||||||||||||||||
The following table provides the credit and funding adjustments, excluding the effect of any associated hedging activities, reflected within the Consolidated Balance Sheets as of the dates indicated. | |||||||||||||||||||||||||||||||||
(in millions) | Jun 30, 2014 | Dec 31, 2013 | |||||||||||||||||||||||||||||||
Derivative receivables balance(a) | $ | 62,378 | $ | 65,759 | |||||||||||||||||||||||||||||
Derivative payables balance(a) | 50,795 | 57,314 | |||||||||||||||||||||||||||||||
Derivatives CVA(b)(c) | (2,099 | ) | (2,352 | ) | |||||||||||||||||||||||||||||
Derivatives DVA and FVA(b)(d) | (483 | ) | (322 | ) | |||||||||||||||||||||||||||||
Structured notes balance(a)(e) | 54,467 | 48,808 | |||||||||||||||||||||||||||||||
Structured notes DVA and FVA(b)(f) | 1,131 | 952 | |||||||||||||||||||||||||||||||
(a) | Balances are presented net of applicable credit valuation adjustments (“CVA”) and debit valuation adjustments (“DVA”)/funding valuation adjustments (“FVA”). | ||||||||||||||||||||||||||||||||
(b) | Positive CVA and DVA/FVA represent amounts that increased receivable balances or decreased payable balances; negative CVA and DVA/FVA represent amounts that decreased receivable balances or increased payable balances. | ||||||||||||||||||||||||||||||||
(c) | Derivatives CVA includes results managed by the credit portfolio group and other businesses. | ||||||||||||||||||||||||||||||||
(d) | At June 30, 2014, and December 31, 2013, included derivatives DVA of $620 million and $715 million, respectively. | ||||||||||||||||||||||||||||||||
(e) | Structured notes are predominantly financial instruments containing embedded derivatives that are measured at fair value based on the Firm’s election under the fair value option. At June 30, 2014, and December 31, 2013, included $1.2 billion and $1.1 billion, respectively, of financial instruments with no embedded derivative for which the fair value option has also been elected. For further information on these elections, see Note 4. | ||||||||||||||||||||||||||||||||
(f) | At June 30, 2014, and December 31, 2013 included structured notes DVA of $1.4 billion and $1.4 billion, respectively. | ||||||||||||||||||||||||||||||||
The following table provides the impact of credit adjustments on Principal transactions revenue in the respective periods, excluding the effect of any associated hedging activities. | |||||||||||||||||||||||||||||||||
Three months ended June 30, | Six months | ||||||||||||||||||||||||||||||||
ended June 30, | |||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
Credit adjustments: | |||||||||||||||||||||||||||||||||
Derivative CVA(a) | $ | 272 | $ | 549 | $ | 253 | $ | 881 | |||||||||||||||||||||||||
Derivative DVA and FVA(b) | (36 | ) | 104 | (161 | ) | 99 | |||||||||||||||||||||||||||
Structured note DVA and FVA(c) | 162 | 251 | 179 | 382 | |||||||||||||||||||||||||||||
(a) | Derivatives CVA includes results managed by the credit portfolio group and other businesses. | ||||||||||||||||||||||||||||||||
(b) | Included derivatives DVA of $(1) million and $104 million for the three months ended June 30, 2014 and 2013 and $(95) million and $99 million for the six months ended June 30, 2014 and 2013, respectively. | ||||||||||||||||||||||||||||||||
(c) | Included structured notes DVA of $134 million and $251 million for the three months ended June 30, 2014 and 2013 and $19 million and $382 million for the six months ended June 30, 2014 and 2013, respectively. | ||||||||||||||||||||||||||||||||
Assets and liabilities measured at fair value on a nonrecurring basis | |||||||||||||||||||||||||||||||||
At June 30, 2014 and 2013, assets measured at fair value on a nonrecurring basis were $3.4 billion and $1.6 billion, respectively, which predominantly consisted of loans that had fair value adjustments in each of the first six months of 2014 and 2013. At June 30, 2014, $597 million and $2.8 billion of these assets were classified in levels 2 and 3 of the fair value hierarchy, respectively. At June 30, 2013, $95 million and $1.5 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 June 30, 2014 and 2013. For the three and six months ended June 30, 2014 and 2013, there were no significant transfers between levels 1, 2, and 3. | |||||||||||||||||||||||||||||||||
Of the $3.4 billion of assets measured at fair value on a nonrecurring basis, $2.1 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 58 bps to 70 bps, with a weighted average of 62 bps. | |||||||||||||||||||||||||||||||||
At June 30, 2014, assets measured at fair value on a nonrecurring basis also included $542 million related to residential real estate loans measured 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 12% to 64%, with a weighted average of 29%. | |||||||||||||||||||||||||||||||||
The total change in the recorded value of assets and liabilities for which a fair value adjustment has been included in the Consolidated Statements of Income for the three months ended June 30, 2014 and 2013, related to financial instruments held at those dates, was a reduction of $318 million and $293 million, respectively; and for the six months ended June 30, 2014 and 2013, was a reduction of $456 million and $521 million. | |||||||||||||||||||||||||||||||||
For 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 of JPMorgan Chase’s 2013 Annual Report. | |||||||||||||||||||||||||||||||||
Additional disclosures about the fair value of financial instruments that are not carried on the Consolidated Balance Sheets at fair value | |||||||||||||||||||||||||||||||||
The following table presents the carrying values and estimated fair values at June 30, 2014, and December 31, 2013, 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 Note 3 of JPMorgan Chase’s 2013 Annual Report. | |||||||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||
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 | $ | 27.5 | $ | 27.5 | $ | — | $ | — | $ | 27.5 | $ | 39.8 | $ | 39.8 | $ | — | $ | — | $ | 39.8 | |||||||||||||
Deposits with banks | 393.9 | 387.3 | 6.6 | — | 393.9 | 316.1 | 309.7 | 6.4 | — | 316.1 | |||||||||||||||||||||||
Accrued interest and accounts receivable | 77.1 | — | 76.9 | 0.2 | 77.1 | 65.2 | — | 64.9 | 0.3 | 65.2 | |||||||||||||||||||||||
Federal funds sold and securities purchased under resale agreements | 220.3 | — | 220.3 | — | 220.3 | 223 | — | 223 | — | 223 | |||||||||||||||||||||||
Securities borrowed | 111.8 | — | 111.8 | — | 111.8 | 107.7 | — | 107.7 | — | 107.7 | |||||||||||||||||||||||
Securities, held-to-maturity(a) | 47.8 | — | 49.2 | — | 49.2 | 24 | — | 23.7 | — | 23.7 | |||||||||||||||||||||||
Loans, net of allowance for loan losses(b) | 727.4 | — | 18.2 | 713.5 | 731.7 | 720.1 | — | 23 | 697.2 | 720.2 | |||||||||||||||||||||||
Other(c) | 52.8 | — | 49.8 | 6.7 | 56.5 | 58.2 | — | 54.5 | 7.4 | 61.9 | |||||||||||||||||||||||
Financial liabilities | |||||||||||||||||||||||||||||||||
Deposits | $ | 1,311.80 | $ | — | $ | 1,310.90 | $ | 1.2 | $ | 1,312.10 | $ | 1,281.10 | $ | — | $ | 1,280.30 | $ | 1.2 | $ | 1,281.50 | |||||||||||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 213.9 | — | 213.9 | — | 213.9 | 175.7 | — | 175.7 | — | 175.7 | |||||||||||||||||||||||
Commercial paper | 63.8 | — | 63.8 | — | 63.8 | 57.8 | — | 57.8 | — | 57.8 | |||||||||||||||||||||||
Other borrowed funds | 19.3 | 19.3 | — | 19.3 | 14.7 | — | 14.7 | — | 14.7 | ||||||||||||||||||||||||
Accounts payable and other liabilities | 175.2 | — | 172.5 | 2.6 | 175.1 | 160.2 | — | 158.2 | 1.8 | 160 | |||||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | 43.6 | — | 40.6 | 3 | 43.6 | 47.6 | — | 44.3 | 3.2 | 47.5 | |||||||||||||||||||||||
Long-term debt and junior subordinated deferrable interest debentures(d) | 238.8 | — | 242.7 | 3.4 | 246.1 | 239 | — | 240.8 | 6 | 246.8 | |||||||||||||||||||||||
(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 197–215 of JPMorgan Chase’s 2013 Annual Report and pages 96–109 of this Note. | ||||||||||||||||||||||||||||||||
(c) | Current period numbers have been updated to include certain nonmarketable equity securities. Prior period amounts have been revised to conform to the current presentation. | ||||||||||||||||||||||||||||||||
(d) | 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. | |||||||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||
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 | $ | 0.6 | $ | — | $ | — | $ | 0.8 | $ | 0.8 | $ | 0.7 | $ | — | $ | — | $ | 1 | $ | 1 | |||||||||||||
(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 as permitted by law, without notice. For a further discussion of the valuation of lending-related commitments, see page 198 of JPMorgan Chase’s 2013 Annual Report. | |||||||||||||||||||||||||||||||||
Trading assets and liabilities – average balances | |||||||||||||||||||||||||||||||||
Average trading assets and liabilities were as follows for the periods indicated. | |||||||||||||||||||||||||||||||||
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
Trading assets – debt and equity instruments | $ | 325,426 | $ | 357,285 | $ | 320,197 | $ | 363,952 | |||||||||||||||||||||||||
Trading assets – derivative receivables | 60,830 | 75,310 | 62,814 | 75,115 | |||||||||||||||||||||||||||||
Trading liabilities – debt and equity instruments(a) | 85,123 | 75,671 | 85,230 | 73,103 | |||||||||||||||||||||||||||||
Trading liabilities – derivative payables | 49,487 | 66,246 | 51,305 | 67,458 | |||||||||||||||||||||||||||||
(a) | Primarily represent securities sold, not yet purchased. |
Fair_Value_Option
Fair Value Option | 6 Months Ended | |||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||
Fair Value Option [Abstract] | ' | |||||||||||||||||||||||||
Fair value option | ' | |||||||||||||||||||||||||
Fair value option | ||||||||||||||||||||||||||
For a discussion of the primary financial instruments for which the fair value option was previously elected, including the basis for those elections and the determination of instrument-specific credit risk, where relevant, see Note 4 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||
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 three and six months ended June 30, 2014 and 2013, 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. | ||||||||||||||||||||||||||
Three months ended June 30, | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
(in millions) | 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 | $ | 96 | $ | — | $ | 96 | $ | (287 | ) | $ | — | $ | (287 | ) | ||||||||||||
Securities borrowed | (2 | ) | — | (2 | ) | (8 | ) | — | (8 | ) | ||||||||||||||||
Trading assets: | ||||||||||||||||||||||||||
Debt and equity instruments, excluding loans | 245 | 3 | (b) | 248 | (14 | ) | 4 | (b) | (10 | ) | ||||||||||||||||
Loans reported as trading assets: | ||||||||||||||||||||||||||
Changes in instrument-specific credit risk | 391 | 3 | (b) | 394 | 211 | 26 | (b) | 237 | ||||||||||||||||||
Other changes in fair value | 38 | 400 | (b) | 438 | (94 | ) | 253 | (b) | 159 | |||||||||||||||||
Loans: | ||||||||||||||||||||||||||
Changes in instrument-specific credit risk | 20 | — | 20 | (1 | ) | — | (1 | ) | ||||||||||||||||||
Other changes in fair value | 24 | — | 24 | 21 | — | 21 | ||||||||||||||||||||
Other assets | 7 | (30 | ) | (c) | (23 | ) | 22 | (20 | ) | (c) | 2 | |||||||||||||||
Deposits(a) | (107 | ) | — | (107 | ) | 219 | — | 219 | ||||||||||||||||||
Federal funds purchased and securities loaned or sold under repurchase agreements | (18 | ) | — | (18 | ) | 41 | — | 41 | ||||||||||||||||||
Other borrowed funds(a) | (911 | ) | — | (911 | ) | 734 | — | 734 | ||||||||||||||||||
Trading liabilities | (3 | ) | — | (3 | ) | (14 | ) | — | (14 | ) | ||||||||||||||||
Beneficial interests issued by consolidated VIEs | (48 | ) | — | (48 | ) | (69 | ) | — | (69 | ) | ||||||||||||||||
Other liabilities | (27 | ) | — | (27 | ) | — | — | — | ||||||||||||||||||
Long-term debt: | ||||||||||||||||||||||||||
Changes in instrument-specific credit risk(a) | 82 | — | 82 | 159 | — | 159 | ||||||||||||||||||||
Other changes in fair value | (773 | ) | — | (773 | ) | 1,000 | — | 1,000 | ||||||||||||||||||
Six months ended June 30, | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
(in millions) | 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 | $ | 56 | $ | — | $ | 56 | $ | (358 | ) | $ | — | $ | (358 | ) | ||||||||||||
Securities borrowed | (5 | ) | — | (5 | ) | 18 | — | 18 | ||||||||||||||||||
Trading assets: | ||||||||||||||||||||||||||
Debt and equity instruments, excluding loans | 475 | 1 | (b) | 476 | 242 | 7 | (b) | 249 | ||||||||||||||||||
Loans reported as trading assets: | ||||||||||||||||||||||||||
Changes in instrument-specific credit risk | 754 | 12 | (b) | 766 | 539 | 38 | (b) | 577 | ||||||||||||||||||
Other changes in fair value | 102 | 692 | (b) | 794 | (78 | ) | 1,205 | (b) | 1,127 | |||||||||||||||||
Loans: | ||||||||||||||||||||||||||
Changes in instrument-specific credit risk | 28 | — | 28 | (6 | ) | — | (6 | ) | ||||||||||||||||||
Other changes in fair value | 31 | — | 31 | 21 | — | 21 | ||||||||||||||||||||
Other assets | 12 | (142 | ) | (c) | (130 | ) | 21 | (89 | ) | (c) | (68 | ) | ||||||||||||||
Deposits(a) | (211 | ) | — | (211 | ) | 297 | — | 297 | ||||||||||||||||||
Federal funds purchased and securities loaned or sold under repurchase agreements | (34 | ) | — | (34 | ) | 45 | — | 45 | ||||||||||||||||||
Other borrowed funds(a) | (1,171 | ) | — | (1,171 | ) | 380 | — | 380 | ||||||||||||||||||
Trading liabilities | (9 | ) | — | (9 | ) | (32 | ) | — | (32 | ) | ||||||||||||||||
Beneficial interests issued by consolidated VIEs | (137 | ) | — | (137 | ) | (97 | ) | — | (97 | ) | ||||||||||||||||
Other liabilities | (27 | ) | — | (27 | ) | — | (1 | ) | (c) | (1 | ) | |||||||||||||||
Long-term debt: | ||||||||||||||||||||||||||
Changes in instrument-specific credit risk(a) | 5 | — | 5 | 192 | — | 192 | ||||||||||||||||||||
Other changes in fair value(b) | (791 | ) | — | (791 | ) | 969 | — | 969 | ||||||||||||||||||
(a) | Total changes in instrument-specific credit risk (DVA) related to structured notes were $134 million and $251 million for the three months ended June 30, 2014 and 2013 and $19 million and $382 million for the six months ended June 30, 2014 and 2013, respectively. These totals include such changes for structured notes classified within deposits and other borrowed funds, as well as long-term debt. | |||||||||||||||||||||||||
(b) | Reported in mortgage fees and related income. | |||||||||||||||||||||||||
(c) | 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 June 30, 2014, and December 31, 2013, for loans, long-term debt and long-term beneficial interests for which the fair value option has been elected. | ||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||
(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 | $ | 4,462 | $ | 1,270 | $ | (3,192 | ) | $ | 5,156 | $ | 1,491 | $ | (3,665 | ) | ||||||||||||
Loans | 214 | 154 | (60 | ) | 209 | 154 | (55 | ) | ||||||||||||||||||
Subtotal | 4,676 | 1,424 | (3,252 | ) | 5,365 | 1,645 | (3,720 | ) | ||||||||||||||||||
All other performing loans | ||||||||||||||||||||||||||
Loans reported as trading assets | 35,185 | 31,920 | (3,265 | ) | 33,069 | 29,295 | (3,774 | ) | ||||||||||||||||||
Loans | 3,934 | 3,877 | (57 | ) | 1,618 | 1,563 | (55 | ) | ||||||||||||||||||
Total loans | $ | 43,795 | $ | 37,221 | $ | (6,574 | ) | $ | 40,052 | $ | 32,503 | $ | (7,549 | ) | ||||||||||||
Long-term debt | ||||||||||||||||||||||||||
Principal-protected debt | $ | 15,634 | (c) | $ | 15,882 | $ | 248 | $ | 15,797 | (c) | $ | 15,909 | $ | 112 | ||||||||||||
Nonprincipal-protected debt(b) | NA | 15,260 | NA | NA | 12,969 | NA | ||||||||||||||||||||
Total long-term debt | NA | $ | 31,142 | NA | NA | $ | 28,878 | NA | ||||||||||||||||||
Long-term beneficial interests | ||||||||||||||||||||||||||
Nonprincipal-protected debt(b) | NA | $ | 2,094 | NA | NA | $ | 1,996 | NA | ||||||||||||||||||
Total long-term beneficial interests | NA | $ | 2,094 | NA | NA | $ | 1,996 | NA | ||||||||||||||||||
(a) | There were no performing loans that were ninety days or more past due as of June 30, 2014, and December 31, 2013. | |||||||||||||||||||||||||
(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. However, investors are exposed to the credit risk of the Firm as issuer for both nonprincipal-protected and principal protected notes. | |||||||||||||||||||||||||
(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. | |||||||||||||||||||||||||
At June 30, 2014, and December 31, 2013, 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 $(106) million and $(99) million, respectively. For further information regarding off-balance sheet lending-related financial instruments, see Note 29 of JPMorgan Chase’s 2013 Annual Report, and Note 21 of this Form 10-Q. | ||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||
(in millions) | Long-term debt | Other borrowed funds | Deposits | Total | Long-term debt | Other borrowed funds | Deposits | Total | ||||||||||||||||||
Risk exposure | ||||||||||||||||||||||||||
Interest rate | $ | 10,505 | $ | 461 | $ | 1,735 | $ | 12,701 | $ | 9,516 | $ | 615 | $ | 1,270 | $ | 11,401 | ||||||||||
Credit | 4,429 | 124 | — | 4,553 | 4,248 | 13 | — | 4,261 | ||||||||||||||||||
Foreign exchange | 2,307 | 136 | 16 | 2,459 | 2,321 | 194 | 27 | 2,542 | ||||||||||||||||||
Equity | 12,512 | 13,510 | 4,184 | 30,206 | 11,082 | 11,936 | 3,736 | 26,754 | ||||||||||||||||||
Commodity | 1,154 | 589 | 1,570 | 3,313 | 1,260 | 310 | 1,133 | 2,703 | ||||||||||||||||||
Total structured notes | $ | 30,907 | $ | 14,820 | $ | 7,505 | $ | 53,232 | $ | 28,427 | $ | 13,068 | $ | 6,166 | $ | 47,661 | ||||||||||
Derivative_Instruments
Derivative Instruments | 6 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Derivative instruments | ' | ||||||||||||||||||||||||||||
Derivative instruments | |||||||||||||||||||||||||||||
JPMorgan Chase makes markets in derivatives for customers and also uses derivatives to hedge or manage its own risk exposures. For a further discussion of the Firm’s use of and accounting policies regarding derivative instruments, see Note 6 of JPMorgan Chase’s 2013 Annual Report. | |||||||||||||||||||||||||||||
The Firm’s disclosures are based on the accounting treatment and purpose of these derivatives. A limited number of the Firm’s derivatives are designated in hedge accounting relationships and are disclosed according to the type of hedge (fair value hedge, cash flow hedge, or net investment hedge). Derivatives not designated in hedge accounting relationships include certain derivatives that are used to manage certain risks associated with specified assets or liabilities (“specified risk management” positions) as well as derivatives used in the Firm’s market-making businesses or for other purposes. | |||||||||||||||||||||||||||||
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 | 10-Q page reference | |||||||||||||||||||||||||
segment or unit | |||||||||||||||||||||||||||||
Manage specifically identified risk exposures in qualifying hedge accounting relationships: | |||||||||||||||||||||||||||||
◦ Interest rate | Hedge fixed rate assets and liabilities | Fair value hedge | Corporate/PE | 119-120 | |||||||||||||||||||||||||
◦ Interest rate | Hedge floating rate assets and liabilities | Cash flow hedge | Corporate/PE | 121 | |||||||||||||||||||||||||
◦ | Hedge foreign currency-denominated assets and liabilities | Fair value hedge | Corporate/PE | 119-120 | |||||||||||||||||||||||||
Foreign exchange | |||||||||||||||||||||||||||||
◦ | Hedge forecasted revenue and expense | Cash flow hedge | Corporate/PE | 121 | |||||||||||||||||||||||||
Foreign exchange | |||||||||||||||||||||||||||||
◦ | Hedge the value of the Firm’s investments in non-U.S. subsidiaries | Net investment hedge | Corporate/PE | 122 | |||||||||||||||||||||||||
Foreign exchange | |||||||||||||||||||||||||||||
◦ | Hedge commodity inventory | Fair value hedge | CIB | 119-120 | |||||||||||||||||||||||||
Commodity | |||||||||||||||||||||||||||||
Manage specifically identified risk exposures not designated in qualifying hedge accounting relationships: | |||||||||||||||||||||||||||||
◦ | Manage the risk of the mortgage pipeline, warehouse loans and MSRs | Specified risk management | CCB | 122 | |||||||||||||||||||||||||
Interest rate | |||||||||||||||||||||||||||||
◦ | Manage the credit risk of wholesale lending exposures | Specified risk management | CIB | 122 | |||||||||||||||||||||||||
Credit | |||||||||||||||||||||||||||||
◦ | Manage the risk of certain commodities-related contracts and investments | Specified risk management | CIB | 122 | |||||||||||||||||||||||||
Commodity | |||||||||||||||||||||||||||||
◦ | Manage the risk of certain other specified assets and liabilities | Specified risk management | Corporate/PE | 122 | |||||||||||||||||||||||||
Interest rate and foreign exchange | |||||||||||||||||||||||||||||
Market-making derivatives and other activities: | |||||||||||||||||||||||||||||
◦ Various | Market-making and related risk management | Market-making and other | CIB | 122 | |||||||||||||||||||||||||
◦ Various | Other derivatives | Market-making and other | CIB, Corporate/PE | 122 | |||||||||||||||||||||||||
Notional amount of derivative contracts | |||||||||||||||||||||||||||||
The following table summarizes the notional amount of derivative contracts outstanding as of June 30, 2014, and December 31, 2013. | |||||||||||||||||||||||||||||
Notional amounts(c) | |||||||||||||||||||||||||||||
(in billions) | June 30, | 31-Dec-13 | |||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Interest rate contracts | |||||||||||||||||||||||||||||
Swaps | $ | 30,929 | $ | 35,221 | |||||||||||||||||||||||||
Futures and forwards | 12,556 | 11,251 | |||||||||||||||||||||||||||
Written options(a) | 4,305 | 4,046 | |||||||||||||||||||||||||||
Purchased options | 4,704 | 4,187 | |||||||||||||||||||||||||||
Total interest rate contracts | 52,494 | 54,705 | |||||||||||||||||||||||||||
Credit derivatives(a)(b) | 5,100 | 5,331 | |||||||||||||||||||||||||||
Foreign exchange contracts | |||||||||||||||||||||||||||||
Cross-currency swaps | 3,680 | 3,488 | |||||||||||||||||||||||||||
Spot, futures and forwards | 4,310 | 3,773 | |||||||||||||||||||||||||||
Written options | 725 | 659 | |||||||||||||||||||||||||||
Purchased options | 716 | 652 | |||||||||||||||||||||||||||
Total foreign exchange contracts | 9,431 | 8,572 | |||||||||||||||||||||||||||
Equity contracts | |||||||||||||||||||||||||||||
Swaps(a) | 198 | 187 | |||||||||||||||||||||||||||
Futures and forwards(a) | 46 | 50 | |||||||||||||||||||||||||||
Written options | 474 | 425 | |||||||||||||||||||||||||||
Purchased options | 391 | 380 | |||||||||||||||||||||||||||
Total equity contracts | 1,109 | 1,042 | |||||||||||||||||||||||||||
Commodity contracts | |||||||||||||||||||||||||||||
Swaps | 130 | 124 | |||||||||||||||||||||||||||
Spot, futures and forwards | 218 | 234 | |||||||||||||||||||||||||||
Written options | 200 | 202 | |||||||||||||||||||||||||||
Purchased options | 196 | 203 | |||||||||||||||||||||||||||
Total commodity contracts | 744 | 763 | |||||||||||||||||||||||||||
Total derivative notional amounts | $ | 68,878 | $ | 70,413 | |||||||||||||||||||||||||
(a) | The prior period amount has been revised. This revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | ||||||||||||||||||||||||||||
(b) | For more information on volumes and types of credit derivative contracts, see the Credit derivatives discussion on page 123 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 June 30, 2014, and December 31, 2013, 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 | ||||||||||||||||||||||||||||
30-Jun-14 | Not designated as hedges | Designated as hedges | Total derivative receivables | Net derivative receivables(b) | Not designated as hedges | Designated | Total derivative payables | Net derivative payables(b) | |||||||||||||||||||||
(in millions) | as hedges | ||||||||||||||||||||||||||||
Trading assets and liabilities | |||||||||||||||||||||||||||||
Interest rate | $ | 817,201 | $ | 3,100 | $ | 820,301 | $ | 28,829 | $ | 784,808 | $ | 2,410 | $ | 787,218 | $ | 15,089 | |||||||||||||
Credit | 81,052 | — | 81,052 | 2,964 | 79,556 | — | 79,556 | 2,832 | |||||||||||||||||||||
Foreign exchange | 112,243 | 1,008 | 113,251 | 11,625 | 113,357 | 1,327 | 114,684 | 11,682 | |||||||||||||||||||||
Equity | 49,794 | — | 49,794 | 9,377 | 53,524 | — | 53,524 | 11,024 | |||||||||||||||||||||
Commodity | 35,843 | 283 | 36,126 | 9,583 | 36,181 | 680 | 36,861 | 10,168 | |||||||||||||||||||||
Total fair value of trading assets and liabilities | $ | 1,096,133 | $ | 4,391 | $ | 1,100,524 | $ | 62,378 | $ | 1,067,426 | $ | 4,417 | $ | 1,071,843 | $ | 50,795 | |||||||||||||
Gross derivative receivables | Gross derivative payables | ||||||||||||||||||||||||||||
31-Dec-13 | Not designated as hedges | Designated as hedges | Total derivative receivables | Net derivative receivables(b) | Not designated as hedges | Designated | Total derivative payables | Net derivative payables(b) | |||||||||||||||||||||
(in millions) | as hedges | ||||||||||||||||||||||||||||
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 | |||||||||||||
(a) | Balances exclude structured notes for which the fair value option has been elected. See Note 4 for further information. | ||||||||||||||||||||||||||||
(b) | 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 June 30, 2014, and December 31, 2013, the gross and net derivative receivables by contract and settlement type. Derivative receivables have been netted on the Consolidated Balance Sheets against derivative payables and cash collateral 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 on the Consolidated Balance Sheets, and are shown separately in the table below. | |||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | ||||||||||||||||||||||||||||
(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”) | $ | 498,230 | $ | (475,647 | ) | $ | 22,583 | $ | 486,449 | $ | (466,493 | ) | $ | 19,956 | |||||||||||||||
OTC–cleared | 316,030 | (315,825 | ) | 205 | 362,426 | (362,404 | ) | 22 | |||||||||||||||||||||
Exchange traded(a) | — | — | — | — | — | — | |||||||||||||||||||||||
Total interest rate contracts | 814,260 | (791,472 | ) | 22,788 | 848,875 | (828,897 | ) | 19,978 | |||||||||||||||||||||
Credit contracts: | |||||||||||||||||||||||||||||
OTC | 69,143 | (68,041 | ) | 1,102 | 66,269 | (65,725 | ) | 544 | |||||||||||||||||||||
OTC–cleared | 11,422 | (10,047 | ) | 1,375 | 16,841 | (16,279 | ) | 562 | |||||||||||||||||||||
Total credit contracts | 80,565 | (78,088 | ) | 2,477 | 83,110 | (82,004 | ) | 1,106 | |||||||||||||||||||||
Foreign exchange contracts: | |||||||||||||||||||||||||||||
OTC | 110,256 | (101,578 | ) | 8,678 | 148,953 | (136,763 | ) | 12,190 | |||||||||||||||||||||
OTC–cleared | 48 | (48 | ) | — | 46 | (46 | ) | — | |||||||||||||||||||||
Exchange traded(a) | — | — | — | — | — | — | |||||||||||||||||||||||
Total foreign exchange contracts | 110,304 | (101,626 | ) | 8,678 | 148,999 | (136,809 | ) | 12,190 | |||||||||||||||||||||
Equity contracts: | |||||||||||||||||||||||||||||
OTC | 23,441 | (23,026 | ) | 415 | 31,870 | (29,289 | ) | 2,581 | |||||||||||||||||||||
OTC–cleared | — | — | — | — | — | — | |||||||||||||||||||||||
Exchange traded(a) | 20,052 | (17,391 | ) | 2,661 | 17,732 | (11,415 | ) | 6,317 | |||||||||||||||||||||
Total equity contracts | 43,493 | (40,417 | ) | 3,076 | 49,602 | (40,704 | ) | 8,898 | |||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||||||
OTC | 21,951 | (14,860 | ) | 7,091 | 21,619 | (15,082 | ) | 6,537 | |||||||||||||||||||||
OTC–cleared | — | — | — | — | — | — | |||||||||||||||||||||||
Exchange traded(a) | 13,414 | (11,683 | ) | 1,731 | 12,528 | (11,212 | ) | 1,316 | |||||||||||||||||||||
Total commodity contracts | 35,365 | (26,543 | ) | 8,822 | 34,147 | (26,294 | ) | 7,853 | |||||||||||||||||||||
Derivative receivables with appropriate legal opinion | $ | 1,083,987 | $ | (1,038,146 | ) | (b) | $ | 45,841 | $ | 1,164,733 | $ | (1,114,708 | ) | (b) | $ | 50,025 | |||||||||||||
Derivative receivables where an appropriate legal opinion has not been either sought or obtained | 16,537 | 16,537 | 15,734 | 15,734 | |||||||||||||||||||||||||
Total derivative receivables recognized on the Consolidated Balance Sheets | $ | 1,100,524 | $ | 62,378 | $ | 1,180,467 | $ | 65,759 | |||||||||||||||||||||
(a) | Exchange traded derivative amounts that relate to futures contracts are settled daily. | ||||||||||||||||||||||||||||
(b) | Included cash collateral netted of $62.0 billion and $63.9 billion at June 30, 2014, and December 31, 2013, respectively. | ||||||||||||||||||||||||||||
The following table presents, as of June 30, 2014, and December 31, 2013, the gross and net derivative payables by contract and settlement type. Derivative payables have been netted on the Consolidated Balance Sheets against derivative receivables and cash collateral receivables from 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 on the Consolidated Balance Sheets, and are shown separately in the table below. | |||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | ||||||||||||||||||||||||||||
(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 | $ | 472,544 | $ | (461,345 | ) | $ | 11,199 | $ | 467,850 | $ | (458,081 | ) | $ | 9,769 | |||||||||||||||
OTC–cleared | 311,744 | (310,784 | ) | 960 | 354,698 | (353,990 | ) | 708 | |||||||||||||||||||||
Exchange traded(a) | — | — | — | — | — | — | |||||||||||||||||||||||
Total interest rate contracts | 784,288 | (772,129 | ) | 12,159 | 822,548 | (812,071 | ) | 10,477 | |||||||||||||||||||||
Credit contracts: | |||||||||||||||||||||||||||||
OTC | 67,182 | (65,923 | ) | 1,259 | 65,223 | (63,671 | ) | 1,552 | |||||||||||||||||||||
OTC–cleared | 11,910 | (10,801 | ) | 1,109 | 16,506 | (16,450 | ) | 56 | |||||||||||||||||||||
Total credit contracts | 79,092 | (76,724 | ) | 2,368 | 81,729 | (80,121 | ) | 1,608 | |||||||||||||||||||||
Foreign exchange contracts: | |||||||||||||||||||||||||||||
OTC | 110,876 | (102,961 | ) | 7,915 | 155,110 | (144,119 | ) | 10,991 | |||||||||||||||||||||
OTC–cleared | 41 | (41 | ) | — | 61 | (59 | ) | 2 | |||||||||||||||||||||
Exchange traded(a) | — | — | — | — | — | — | |||||||||||||||||||||||
Total foreign exchange contracts | 110,917 | (103,002 | ) | 7,915 | 155,171 | (144,178 | ) | 10,993 | |||||||||||||||||||||
Equity contracts: | |||||||||||||||||||||||||||||
OTC | 29,222 | (25,109 | ) | 4,113 | 33,295 | (28,520 | ) | 4,775 | |||||||||||||||||||||
OTC–cleared | — | — | — | — | — | — | |||||||||||||||||||||||
Exchange traded(a) | 18,257 | (17,391 | ) | 866 | 17,349 | (11,415 | ) | 5,934 | |||||||||||||||||||||
Total equity contracts | 47,479 | (42,500 | ) | 4,979 | 50,644 | (39,935 | ) | 10,709 | |||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||||||
OTC | 20,689 | (15,010 | ) | 5,679 | 21,993 | (15,318 | ) | 6,675 | |||||||||||||||||||||
OTC–cleared | — | — | — | — | — | — | |||||||||||||||||||||||
Exchange traded(a) | 13,177 | (11,683 | ) | 1,494 | 12,367 | (11,212 | ) | 1,155 | |||||||||||||||||||||
Total commodity contracts | 33,866 | (26,693 | ) | 7,173 | 34,360 | (26,530 | ) | 7,830 | |||||||||||||||||||||
Derivative payables with appropriate legal opinions | $ | 1,055,642 | $ | (1,021,048 | ) | (b) | $ | 34,594 | $ | 1,144,452 | $ | (1,102,835 | ) | (b) | $ | 41,617 | |||||||||||||
Derivative payables where an appropriate legal opinion has not been either sought or obtained | 16,201 | 16,201 | 15,697 | 15,697 | |||||||||||||||||||||||||
Total derivative payables recognized on the Consolidated Balance Sheets | $ | 1,071,843 | $ | 50,795 | $ | 1,160,149 | $ | 57,314 | |||||||||||||||||||||
(a) | Exchange traded derivative balances that relate to futures contracts are settled daily. | ||||||||||||||||||||||||||||
(b) | Included cash collateral netted of $44.9 billion and $52.1 billion related to OTC and OTC-cleared derivatives at June 30, 2014, and December 31, 2013, 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 comprised of 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 June 30, 2014, and December 31, 2013, 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 | |||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | ||||||||||||||||||||||||||||
(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 | $ | 45,841 | $ | (10,707 | ) | (a) | $ | 35,134 | $ | 50,025 | $ | (12,414 | ) | (a) | $ | 37,611 | |||||||||||||
Derivative payable collateral(b) | |||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | ||||||||||||||||||||||||||||
(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 | $ | 34,594 | $ | (7,302 | ) | (a) | $ | 27,292 | $ | 41,617 | $ | (6,873 | ) | (a) | $ | 34,744 | |||||||||||||
(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 | |||||||||||||||||||||||||||||
For a more detailed discussion of liquidity risk and credit-related contingent features related to the Firm’s derivative contracts, see Note 6 of JPMorgan Chase’s 2013 Annual Report. | |||||||||||||||||||||||||||||
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 June 30, 2014, and December 31, 2013. | |||||||||||||||||||||||||||||
OTC and OTC-cleared derivative payables containing downgrade triggers | |||||||||||||||||||||||||||||
(in millions) | June 30, | 31-Dec-13 | |||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Aggregate fair value of net derivative payables | $ | 22,077 | $ | 24,631 | |||||||||||||||||||||||||
Collateral posted | 17,569 | 20,346 | |||||||||||||||||||||||||||
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 June 30, 2014, and December 31, 2013, 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 | |||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | ||||||||||||||||||||||||||||
(in millions) | Single-notch downgrade | Two-notch downgrade | Single-notch downgrade | Two-notch downgrade | |||||||||||||||||||||||||
Amount of additional collateral to be posted upon downgrade(a) | $ | 929 | $ | 3,337 | $ | 952 | $ | 3,244 | |||||||||||||||||||||
Amount required to settle contracts with termination triggers upon downgrade(b) | 578 | 920 | 540 | 876 | |||||||||||||||||||||||||
(a) | Includes the additional collateral to be posted for initial margin. | ||||||||||||||||||||||||||||
(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 three and six months ended June 30, 2014 and 2013, 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: | ||||||||||||||||||||||||||||
Three months ended June 30, 2014 (in millions) | Derivatives | Hedged items | Total income statement impact | Hedge ineffectiveness(e) | Excluded components(f) | ||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | 578 | $ | (261 | ) | $ | 317 | $ | 43 | $ | 274 | ||||||||||||||||||
Foreign exchange(b) | (388 | ) | 307 | (81 | ) | — | (81 | ) | |||||||||||||||||||||
Commodity(c) | (561 | ) | 652 | 91 | 13 | 78 | |||||||||||||||||||||||
Total | $ | (371 | ) | $ | 698 | $ | 327 | $ | 56 | $ | 271 | ||||||||||||||||||
Gains/(losses) recorded in income | Income statement impact due to: | ||||||||||||||||||||||||||||
Three months ended June 30, 2013 (in millions) | Derivatives | Hedged items | Total income statement impact | Hedge ineffectiveness(e) | Excluded components(f) | ||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (2,107 | ) | $ | 2,434 | $ | 327 | $ | (60 | ) | $ | 387 | |||||||||||||||||
Foreign exchange(b) | 280 | (368 | ) | (88 | ) | — | (88 | ) | |||||||||||||||||||||
Commodity(c)(d) | 457 | (1,087 | ) | (630 | ) | 6 | (636 | ) | |||||||||||||||||||||
Total | $ | (1,370 | ) | $ | 979 | $ | (391 | ) | $ | (54 | ) | $ | (337 | ) | |||||||||||||||
Gains/(losses) recorded in income | Income statement impact due to: | ||||||||||||||||||||||||||||
Six months ended June 30, 2014 (in millions) | Derivatives | Hedged items | Total income statement impact | Hedge ineffectiveness(e) | Excluded components(f) | ||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | 1,321 | $ | (668 | ) | $ | 653 | $ | 72 | $ | 581 | ||||||||||||||||||
Foreign exchange(b) | (786 | ) | 631 | (155 | ) | — | (155 | ) | |||||||||||||||||||||
Commodity(c) | (381 | ) | 514 | 133 | 28 | 105 | |||||||||||||||||||||||
Total | $ | 154 | $ | 477 | $ | 631 | $ | 100 | $ | 531 | |||||||||||||||||||
Gains/(losses) recorded in income | Income statement impact due to: | ||||||||||||||||||||||||||||
Six months ended June 30, 2013 (in millions) | Derivatives | Hedged items | Total income statement impact | Hedge ineffectiveness(e) | Excluded components(f) | ||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (2,606 | ) | $ | 3,309 | $ | 703 | $ | (100 | ) | $ | 803 | |||||||||||||||||
Foreign exchange(b) | 4,033 | (4,120 | ) | (87 | ) | — | (87 | ) | |||||||||||||||||||||
Commodity(c)(d) | 1,208 | (1,812 | ) | (604 | ) | (12 | ) | (592 | ) | ||||||||||||||||||||
Total | $ | 2,635 | $ | (2,623 | ) | $ | 12 | $ | (112 | ) | $ | 124 | |||||||||||||||||
(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) | The prior period amounts have been revised. This revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | ||||||||||||||||||||||||||||
(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 three and six months ended June 30, 2014 and 2013, 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) | |||||||||||||||||||||||||||||
Three months ended June 30, 2014 (in millions) | 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 OCI | |||||||||||||||||||||||||||||
for period | |||||||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (10 | ) | $ | — | $ | (10 | ) | $ | 71 | $ | 81 | |||||||||||||||||
Foreign exchange(b) | 39 | — | 39 | 72 | 33 | ||||||||||||||||||||||||
Total | $ | 29 | $ | — | $ | 29 | $ | 143 | $ | 114 | |||||||||||||||||||
Gains/(losses) recorded in income and other comprehensive income/(loss)(c) | |||||||||||||||||||||||||||||
Three months ended June 30, 2013 (in millions) | 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 OCI | |||||||||||||||||||||||||||||
for period | |||||||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (14 | ) | $ | — | $ | (14 | ) | $ | (500 | ) | $ | (486 | ) | |||||||||||||||
Foreign exchange(b) | (20 | ) | — | (20 | ) | (12 | ) | 8 | |||||||||||||||||||||
Total | $ | (34 | ) | $ | — | $ | (34 | ) | $ | (512 | ) | $ | (478 | ) | |||||||||||||||
Gains/(losses) recorded in income and other comprehensive income/(loss)(c) | |||||||||||||||||||||||||||||
Six months ended June 30, 2014 (in millions) | 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 OCI | |||||||||||||||||||||||||||||
for period | |||||||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (36 | ) | $ | — | $ | (36 | ) | $ | 134 | $ | 170 | |||||||||||||||||
Foreign exchange(b) | 38 | — | 38 | 81 | 43 | ||||||||||||||||||||||||
Total | $ | 2 | $ | — | $ | 2 | $ | 215 | $ | 213 | |||||||||||||||||||
Gains/(losses) recorded in income and other comprehensive income/(loss)(c) | |||||||||||||||||||||||||||||
Six months ended June 30, 2013 (in millions) | 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 OCI | |||||||||||||||||||||||||||||
for period | |||||||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (41 | ) | $ | — | $ | (41 | ) | $ | (526 | ) | $ | (485 | ) | |||||||||||||||
Foreign exchange(b) | (22 | ) | — | (22 | ) | (116 | ) | (94 | ) | ||||||||||||||||||||
Total | $ | (63 | ) | $ | — | $ | (63 | ) | $ | (642 | ) | $ | (579 | ) | |||||||||||||||
(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 three and six months ended June 30, 2014 and 2013. | ||||||||||||||||||||||||||||
(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 $71 million (after-tax) of net gains recorded in accumulated other comprehensive income (“AOCI”) at June 30, 2014, related to cash flow hedges will be recognized in income. The maximum length of time over which forecasted transactions are hedged is 9 years, and such transactions primarily relate to core lending and borrowing activities. | |||||||||||||||||||||||||||||
Net investment hedge gains and losses | |||||||||||||||||||||||||||||
The following table presents 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 three and six months ended June 30, 2014 and 2013. | |||||||||||||||||||||||||||||
Gains/(losses) recorded in income and | |||||||||||||||||||||||||||||
other comprehensive income/(loss) | |||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Three months ended June 30, | Excluded components recorded directly | Effective portion recorded in OCI | Excluded components | Effective portion recorded in OCI | |||||||||||||||||||||||||
(in millions) | in income(a) | recorded directly | |||||||||||||||||||||||||||
in income(a) | |||||||||||||||||||||||||||||
Foreign exchange derivatives | $ | (122 | ) | $ | (208 | ) | $ | (85 | ) | $ | 571 | ||||||||||||||||||
Gains/(losses) recorded in income and | |||||||||||||||||||||||||||||
other comprehensive income/(loss) | |||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Six months ended June 30, | Excluded components recorded directly | Effective portion recorded in OCI | Excluded components | Effective portion recorded in OCI | |||||||||||||||||||||||||
(in millions) | in income(a) | recorded directly | |||||||||||||||||||||||||||
in income(a) | |||||||||||||||||||||||||||||
Foreign exchange derivatives | $ | (227 | ) | $ | (362 | ) | $ | (162 | ) | $ | 991 | ||||||||||||||||||
(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 material ineffectiveness for net investment hedge accounting relationships during the three and six months ended June 30, 2014 and 2013. | |||||||||||||||||||||||||||||
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, foreign currency-denominated liabilities, and commodities-related contracts and investments. | |||||||||||||||||||||||||||||
Derivatives gains/(losses) | |||||||||||||||||||||||||||||
recorded in income | |||||||||||||||||||||||||||||
Three months ended June 30, | Six months | ||||||||||||||||||||||||||||
ended June 30, | |||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | 589 | $ | 269 | $ | 1,107 | $ | 727 | |||||||||||||||||||||
Credit(b) | (24 | ) | (8 | ) | (41 | ) | (39 | ) | |||||||||||||||||||||
Foreign exchange(c) | (3 | ) | — | (3 | ) | 1 | |||||||||||||||||||||||
Commodity(d) | (21 | ) | 40 | 162 | 74 | ||||||||||||||||||||||||
Total | $ | 541 | $ | 301 | $ | 1,225 | $ | 763 | |||||||||||||||||||||
(a) | Primarily represents interest rate derivatives used to hedge the interest rate risk inherent in the mortgage pipeline, warehouse loans and MSRs, as well as written commitments to originate warehouse loans. 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. These derivatives do not include credit derivatives used to mitigate counterparty credit risk arising from derivative receivables, which is 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. | ||||||||||||||||||||||||||||
(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 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 6 for information on principal transactions revenue. | |||||||||||||||||||||||||||||
Credit derivatives | |||||||||||||||||||||||||||||
For a more detailed discussion of credit derivatives, see Note 6 of JPMorgan Chase’s 2013 Annual Report. | |||||||||||||||||||||||||||||
Total credit derivatives and credit-related notes | |||||||||||||||||||||||||||||
Maximum payout/Notional amount | |||||||||||||||||||||||||||||
June 30, 2014 (in millions) | Protection sold | Protection | Net protection (sold)/purchased(d) | Other protection purchased(e) | |||||||||||||||||||||||||
purchased with | |||||||||||||||||||||||||||||
identical underlyings(c) | |||||||||||||||||||||||||||||
Credit derivatives | |||||||||||||||||||||||||||||
Credit default swaps | $ | (2,370,387 | ) | $ | 2,573,221 | $ | 202,834 | $ | 19,406 | ||||||||||||||||||||
Other credit derivatives(a) | (63,840 | ) | 48,135 | (15,705 | ) | 24,692 | |||||||||||||||||||||||
Total credit derivatives | (2,434,227 | ) | 2,621,356 | 187,129 | 44,098 | ||||||||||||||||||||||||
Credit-related notes | (114 | ) | — | (114 | ) | 2,892 | |||||||||||||||||||||||
Total | $ | (2,434,341 | ) | $ | 2,621,356 | $ | 187,015 | $ | 46,990 | ||||||||||||||||||||
Maximum payout/Notional amount | |||||||||||||||||||||||||||||
December 31, 2013 (in millions) | Protection sold | Protection | Net protection (sold)/purchased(d) | Other protection purchased(e) | |||||||||||||||||||||||||
purchased with | |||||||||||||||||||||||||||||
identical underlyings(c) | |||||||||||||||||||||||||||||
Credit derivatives | |||||||||||||||||||||||||||||
Credit default swaps | $ | (2,601,581 | ) | $ | 2,610,198 | $ | 8,617 | $ | 8,722 | ||||||||||||||||||||
Other credit derivatives(a) | (44,137 | ) | (b) | 45,921 | 1,784 | (b) | 20,480 | (b) | |||||||||||||||||||||
Total credit derivatives | (2,645,718 | ) | 2,656,119 | 10,401 | 29,202 | ||||||||||||||||||||||||
Credit-related notes | (130 | ) | — | (130 | ) | 2,720 | |||||||||||||||||||||||
Total | $ | (2,645,848 | ) | $ | 2,656,119 | $ | 10,271 | $ | 31,922 | ||||||||||||||||||||
(a) | Other credit derivatives predominantly consists of credit swap options. | ||||||||||||||||||||||||||||
(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) | 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. | ||||||||||||||||||||||||||||
(d) | 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. | ||||||||||||||||||||||||||||
(e) | 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 amounts by the ratings and maturity profile, and the total fair value, of credit derivatives as of June 30, 2014, and December 31, 2013, 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 | |||||||||||||||||||||||||||||
June 30, 2014 (in millions) | <1 year | 1–5 years | >5 years | Total | Fair value of receivables(c) | Fair value of payables(c) | Net fair value | ||||||||||||||||||||||
notional amount | |||||||||||||||||||||||||||||
Risk rating of reference entity | |||||||||||||||||||||||||||||
Investment-grade | $ | (416,698 | ) | $ | (1,280,933 | ) | $ | (94,729 | ) | $ | (1,792,360 | ) | $ | 33,363 | $ | (2,403 | ) | $ | 30,960 | ||||||||||
Noninvestment-grade | (150,449 | ) | (463,834 | ) | (27,698 | ) | (641,981 | ) | 26,967 | (14,775 | ) | 12,192 | |||||||||||||||||
Total | $ | (567,147 | ) | $ | (1,744,767 | ) | $ | (122,427 | ) | $ | (2,434,341 | ) | $ | 60,330 | $ | (17,178 | ) | $ | 43,152 | ||||||||||
December 31, 2013 (in millions) | <1 year | 1–5 years | >5 years | Total | Fair value of receivables(c) | Fair value of payables(c) | Net fair value | ||||||||||||||||||||||
notional amount | |||||||||||||||||||||||||||||
Risk rating of reference entity | |||||||||||||||||||||||||||||
Investment-grade | $ | (368,712 | ) | (b) | $ | (1,469,773 | ) | (b) | $ | (93,209 | ) | (b) | $ | (1,931,694 | ) | (b) | $ | 31,730 | (b) | $ | (5,664 | ) | (b) | $ | 26,066 | (b) | |||
Noninvestment-grade | (140,540 | ) | (544,671 | ) | (28,943 | ) | (714,154 | ) | 27,426 | (16,674 | ) | 10,752 | |||||||||||||||||
Total | $ | (509,252 | ) | $ | (2,014,444 | ) | $ | (122,152 | ) | $ | (2,645,848 | ) | $ | 59,156 | $ | (22,338 | ) | $ | 36,818 | ||||||||||
(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) | 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) | 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 | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Noninterest Income [Abstract] | ' | |||||||||||||||
Noninterest revenue | ' | |||||||||||||||
Noninterest revenue | ||||||||||||||||
For a discussion of the components of and accounting policies for the Firm’s noninterest revenue, see Note 7 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||
The following table presents the components of investment banking fees. | ||||||||||||||||
Three months ended June 30, | Six months ended | |||||||||||||||
June 30, | ||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Underwriting | ||||||||||||||||
Equity | $ | 477 | $ | 457 | $ | 830 | $ | 730 | ||||||||
Debt | 876 | 956 | 1,559 | 1,873 | ||||||||||||
Total underwriting | 1,353 | 1,413 | 2,389 | 2,603 | ||||||||||||
Advisory | 398 | 304 | 782 | 559 | ||||||||||||
Total investment banking fees | $ | 1,751 | $ | 1,717 | $ | 3,171 | $ | 3,162 | ||||||||
The following table presents all realized and unrealized gains and losses recorded in principal transactions revenue. This table excludes interest income and interest expense on trading assets and liabilities, which are an integral part of the overall performance of the Firm’s client-driven market-making activities. See Note 7 for further information on interest income and interest expense. Trading revenue is presented primarily by instrument type. The Firm’s client-driven market-making businesses generally utilize a variety of instrument types in connection with their market-making and related risk management activities; accordingly, the trading revenue presented in the table below is not representative of the total revenue of any individual line of business. | ||||||||||||||||
Three months ended June 30, | Six months ended | |||||||||||||||
June 30, | ||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Trading revenue | ||||||||||||||||
by instrument type(a) | ||||||||||||||||
Interest rate | $ | 626 | $ | 434 | $ | 981 | $ | 884 | ||||||||
Credit | 603 | 701 | 1,129 | 2,002 | ||||||||||||
Foreign exchange | 342 | 701 | 868 | 1,202 | ||||||||||||
Equity | 759 | 897 | 1,564 | 1,986 | ||||||||||||
Commodity(b) | 347 | 547 | 1,035 | 1,239 | ||||||||||||
Total trading revenue | 2,677 | 3,280 | 5,577 | 7,313 | ||||||||||||
Private equity | 231 | 480 | 653 | 208 | ||||||||||||
gains/(losses)(c) | ||||||||||||||||
Principal transactions | $ | 2,908 | $ | 3,760 | $ | 6,230 | $ | 7,521 | ||||||||
(a) | Prior to the second quarter of 2014, trading revenue was presented by major underlying type of risk exposure, generally determined based upon the business primarily responsible for managing that risk exposure. Prior period amounts have been revised to conform with the current period presentation. This revision had no impact on the Firm’s Consolidated Balance Sheets or results of operations. | |||||||||||||||
(b) | 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. For gains/(losses) related to commodity fair value hedges see Note 5. | |||||||||||||||
(c) | 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. | |||||||||||||||
The following table presents the components of firmwide asset management, administration and commissions. | ||||||||||||||||
Three months ended June 30, | Six months ended | |||||||||||||||
June 30, | ||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Asset management fees | ||||||||||||||||
Investment management fees(a) | $ | 2,260 | $ | 1,948 | $ | 4,356 | $ | 3,773 | ||||||||
All other asset management fees(b) | 131 | 139 | 254 | 263 | ||||||||||||
Total asset management fees | 2,391 | 2,087 | 4,610 | 4,036 | ||||||||||||
Total administration fees(c) | 564 | 548 | 1,091 | 1,075 | ||||||||||||
Commission and other fees | ||||||||||||||||
Brokerage commissions | 567 | 625 | 1,199 | 1,205 | ||||||||||||
All other commissions and fees | 485 | 605 | 943 | 1,148 | ||||||||||||
Total commissions and fees | 1,052 | 1,230 | 2,142 | 2,353 | ||||||||||||
Total asset management, administration and commissions | $ | 4,007 | $ | 3,865 | $ | 7,843 | $ | 7,464 | ||||||||
(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. | |||||||||||||||
Other income | ||||||||||||||||
Included in other income is operating lease income of $422 million and $363 million for the three months ended June 30, 2014 and 2013, respectively, and $820 million and $712 million for the six months ended June 30, 2014 and 2013, respectively. |
Interest_Income_and_Interest_E
Interest Income and Interest Expense | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Banking and Thrift, Interest [Abstract] | ' | ||||||||||||||||
Interest income and Interest expense | ' | ||||||||||||||||
Interest income and Interest expense | |||||||||||||||||
For a description of JPMorgan Chase’s accounting policies regarding interest income and interest expense, see Note 8 of JPMorgan Chase’s 2013 Annual Report. | |||||||||||||||||
Details of interest income and interest expense were as follows. | |||||||||||||||||
Three months | Six months | ||||||||||||||||
ended June 30, | ended June 30, | ||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Interest income | |||||||||||||||||
Loans | $ | 8,039 | $ | 8,341 | $ | 16,078 | $ | 16,854 | |||||||||
Taxable securities | 1,940 | 1,581 | 3,840 | 3,288 | |||||||||||||
Tax-exempt securities | 337 | 197 | 654 | 380 | |||||||||||||
Total securities | 2,277 | 1,778 | 4,494 | 3,668 | |||||||||||||
Trading assets | 1,827 | 2,124 | (d) | 3,598 | 4,335 | (d) | |||||||||||
Federal funds sold and securities purchased under resale agreements | 398 | 490 | 834 | 1,004 | |||||||||||||
Securities borrowed(a) | (131 | ) | (30 | ) | (219 | ) | (36 | ) | |||||||||
Deposits with banks | 279 | 222 | 535 | 385 | |||||||||||||
Other assets(b) | 172 | 147 | 334 | 227 | |||||||||||||
Total interest income | 12,861 | 13,072 | (d) | 25,654 | 26,437 | (d) | |||||||||||
Interest expense | |||||||||||||||||
Interest-bearing deposits | 417 | 539 | 843 | 1,084 | |||||||||||||
Short-term and other liabilities(c) | 455 | 442 | (d) | 883 | 900 | (d) | |||||||||||
Long-term debt | 1,086 | 1,261 | 2,253 | 2,556 | |||||||||||||
Beneficial interests issued by consolidated VIEs | 105 | 126 | 210 | 260 | |||||||||||||
Total interest expense | 2,063 | 2,368 | (d) | 4,189 | 4,800 | (d) | |||||||||||
Net interest income | 10,798 | 10,704 | 21,465 | 21,637 | |||||||||||||
Provision for credit losses | 692 | 47 | 1,542 | 664 | |||||||||||||
Net interest income after provision for credit losses | $ | 10,106 | $ | 10,657 | $ | 19,923 | $ | 20,973 | |||||||||
(a) | Negative interest income for the three and six months ended June 30, 2014 and 2013, 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. | ||||||||||||||||
(b) | Largely margin loans. | ||||||||||||||||
(c) | Includes brokerage customer payables. | ||||||||||||||||
(d) | Effective January 1,2014, prior period amounts (and the corresponding amounts on the Consolidated statements of income) have been reclassified to conform with the current period presentation. |
Pension_and_Other_Postretireme
Pension and Other Postretirement Employee Benefit Plans | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||
Pension and other postretirement employee benefit plans | ' | ||||||||||||||||||||
Pension and other postretirement employee benefit plans | |||||||||||||||||||||
For a discussion of JPMorgan Chase’s pension and other postretirement employee benefit (“OPEB”) plans, see Note 9 of JPMorgan Chase’s 2013 Annual Report. | |||||||||||||||||||||
The following table presents the components of net periodic benefit costs reported in the Consolidated Statements of 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 | |||||||||||||||||||
Three months June 30, (in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||
Components of net periodic benefit cost | |||||||||||||||||||||
Benefits earned during the period | $ | 70 | $ | 79 | $ | 8 | $ | 8 | $ | — | $ | — | |||||||||
Interest cost on benefit obligations | 134 | 111 | 36 | 30 | 9 | 9 | |||||||||||||||
Expected return on plan assets | (246 | ) | (238 | ) | (45 | ) | (34 | ) | (25 | ) | (24 | ) | |||||||||
Amortization: | |||||||||||||||||||||
Net (gain)/loss | 7 | 67 | 12 | 12 | — | — | |||||||||||||||
Prior service cost/(credit) | (12 | ) | (11 | ) | — | — | — | — | |||||||||||||
Net periodic defined benefit cost | (47 | ) | 8 | 11 | 16 | (16 | ) | (15 | ) | ||||||||||||
Other defined benefit pension plans(a) | 4 | 4 | 1 | 4 | NA | NA | |||||||||||||||
Total defined benefit plans | (43 | ) | 12 | 12 | 20 | (16 | ) | (15 | ) | ||||||||||||
Total defined contribution plans | 110 | 115 | 87 | 80 | NA | NA | |||||||||||||||
Total pension and OPEB cost included in compensation expense | $ | 67 | $ | 127 | $ | 99 | $ | 100 | $ | (16 | ) | $ | (15 | ) | |||||||
Pension plans | |||||||||||||||||||||
U.S. | Non-U.S. | OPEB plans | |||||||||||||||||||
Six months ended June 30, (in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||
Components of net periodic benefit cost | |||||||||||||||||||||
Benefits earned during the period | $ | 140 | $ | 157 | $ | 17 | $ | 17 | $ | — | $ | — | |||||||||
Interest cost on benefit obligations | 268 | 223 | 70 | 60 | 18 | 18 | |||||||||||||||
Expected return on plan assets | (492 | ) | (477 | ) | (89 | ) | (68 | ) | (50 | ) | (46 | ) | |||||||||
Amortization: | |||||||||||||||||||||
Net (gain)/loss | 13 | 135 | 24 | 24 | — | 1 | |||||||||||||||
Prior service cost/(credit) | (22 | ) | (21 | ) | — | (1 | ) | — | — | ||||||||||||
Net periodic defined benefit cost | (93 | ) | 17 | 22 | 32 | (32 | ) | (27 | ) | ||||||||||||
Other defined benefit pension plans(a) | 7 | 7 | 3 | 6 | NA | NA | |||||||||||||||
Total defined benefit plans | (86 | ) | 24 | 25 | 38 | (32 | ) | (27 | ) | ||||||||||||
Total defined contribution plans | 218 | 220 | 167 | 159 | NA | NA | |||||||||||||||
Total pension and OPEB cost included in compensation expense | $ | 132 | $ | 244 | $ | 192 | $ | 197 | $ | (32 | ) | $ | (27 | ) | |||||||
(a) | Includes various defined benefit pension plans which are individually immaterial. | ||||||||||||||||||||
The fair values of plan assets for the U.S. defined benefit pension and OPEB plans and for the material non-U.S. defined benefit pension plans were $16.7 billion and $3.8 billion, as of June 30, 2014, and $16.1 billion and $3.5 billion respectively, as of December 31, 2013. See Note 19 for further information on unrecognized amounts (i.e., net loss and prior service costs/(credit)) reflected in AOCI for the three and six month periods ended June 30, 2014, and 2013. | |||||||||||||||||||||
The Firm does not anticipate any contribution to the U.S. defined benefit pension plan in 2014 at this time. For 2014, the cost associated with funding benefits under the Firm’s U.S. non-qualified defined benefit pension plans is expected to total $37 million. The 2014 contributions to the non-U.S. defined benefit pension and OPEB plans are expected to be $49 million and $2 million, respectively. |
Employee_Stock_Based_Incentive
Employee Stock Based Incentives | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Employee stock-based incentives | ' | |||||||||||||||
Employee stock-based incentives | ||||||||||||||||
For a discussion of the accounting policies and other information relating to employee stock-based incentives, see Note 10 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||
The Firm recognized the following noncash compensation expense related to its various employee stock-based incentive plans in its Consolidated Statements of Income. | ||||||||||||||||
Three months ended June 30, | Six months | |||||||||||||||
ended June 30, | ||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Cost of prior grants of restricted stock units (“RSUs”) and stock appreciation rights (“SARs”) that are amortized over their applicable vesting periods | $ | 335 | $ | 372 | $ | 745 | $ | 756 | ||||||||
Accrual of estimated costs of stock awards to be granted in future periods including those to full-career eligible employees | 189 | 214 | 397 | 471 | ||||||||||||
Total noncash compensation expense related to employee stock-based incentive plans | $ | 524 | $ | 586 | $ | 1,142 | $ | 1,227 | ||||||||
In the first quarter of 2014, in connection with its annual incentive grant for the 2013 performance year, the Firm granted 36 million RSUs with a weighted-average grant date fair value of $57.87 per RSU. | ||||||||||||||||
Separately, on July 15, 2014, the Compensation Committee and Board of Directors determined that the Chairman and Chief Executive Officer had met all requirements for the vesting of the 2 million SAR awards originally issued in January 2008 and thus, the awards have become exercisable. The SARs, which will expire in January 2018, have an exercise price of $39.83 (the price of JPMorgan Chase common stock on the date of issuance). |
Noninterest_Expense
Noninterest Expense | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Noninterest Expense [Abstract] | ' | |||||||||||||||
Noninterest expense | ' | |||||||||||||||
Noninterest expense | ||||||||||||||||
The following table presents the components of noninterest expense. | ||||||||||||||||
Three months ended June 30, | Six months ended June 30, | |||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Compensation expense | $ | 7,610 | $ | 8,019 | $ | 15,469 | $ | 16,433 | ||||||||
Noncompensation expense: | ||||||||||||||||
Occupancy expense | 973 | 904 | 1,925 | 1,805 | ||||||||||||
Technology, communications and equipment expense | 1,433 | 1,361 | 2,844 | 2,693 | ||||||||||||
Professional and outside services | 1,932 | 1,901 | 3,718 | 3,635 | ||||||||||||
Marketing | 650 | 578 | 1,214 | 1,167 | ||||||||||||
Other expense(a)(b) | 2,701 | 2,951 | 4,634 | 5,252 | ||||||||||||
Amortization of intangibles | 132 | 152 | 263 | 304 | ||||||||||||
Total noncompensation expense | 7,821 | 7,847 | 14,598 | 14,856 | ||||||||||||
Total noninterest expense | $ | 15,431 | $ | 15,866 | $ | 30,067 | $ | 31,289 | ||||||||
(a) | Included firmwide legal expense of $669 million and $678 million for the three months ended June 30, 2014 and 2013 respectively, and $707 million and $1.0 billion for the six months ended June 30, 2014 and 2013. | |||||||||||||||
(b) | Included FDIC-related expense of $266 million and $392 million for the three months ended June 30, 2014 and 2013, respectively, and $559 million and $771 million for the six months ended June 30, 2014 and 2013. |
Securities
Securities | 6 Months Ended | |||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||||||
Securities | ' | |||||||||||||||||||||||||||
Securities | ||||||||||||||||||||||||||||
Securities are classified as AFS, HTM or trading. Securities classified as trading are discussed in Note 3. Predominantly all of the Firm’s AFS and HTM investment securities (the “investment securities portfolio”) are held by Treasury and Chief Investment Office (“CIO”) in connection with its asset-liability management objectives. At both June 30, 2014, and 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). For additional information regarding the investment securities portfolio, see Note 12 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||
During the first quarter of 2014, the Firm transferred U.S. government agency mortgage-backed securities and obligations of U.S. states and municipalities with a fair value of $19.3 billion from available-for-sale to held-to-maturity. These securities were transferred at fair value. Accumulated other comprehensive income included net pretax unrealized losses of $9 million on the securities at the date of transfer. The transfers reflect the Firm’s intent to hold the securities to maturity in order to reduce the impact of price volatility on accumulated other comprehensive income and certain capital measures under Basel III. | ||||||||||||||||||||||||||||
Realized gains and losses | ||||||||||||||||||||||||||||
The following table presents realized gains and losses and other-than-temporary impairment losses (“OTTI”) from AFS securities that were recognized in income. | ||||||||||||||||||||||||||||
Three months | Six months | |||||||||||||||||||||||||||
ended June 30, | ended June 30, | |||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||
Realized gains | $ | 76 | $ | 143 | $ | 224 | $ | 664 | ||||||||||||||||||||
Realized losses | (64 | ) | (13 | ) | (180 | ) | (25 | ) | ||||||||||||||||||||
Net realized gains(a) | 12 | 130 | 44 | 639 | ||||||||||||||||||||||||
OTTI losses: | ||||||||||||||||||||||||||||
Securities the Firm intends to sell | — | (6 | ) | (2 | ) | (b) | (6 | ) | ||||||||||||||||||||
Total OTTI losses recognized in income | — | (6 | ) | (2 | ) | (6 | ) | |||||||||||||||||||||
Net securities gains | $ | 12 | $ | 124 | $ | 42 | $ | 633 | ||||||||||||||||||||
(a) | Total proceeds from securities sold were within approximately 1% and 1% of amortized cost for the three and six months ended June 30, 2014, respectively and 1% and 3% of amortized cost for the three and six months ended June 30, 2013. | |||||||||||||||||||||||||||
(b) | Excludes realized losses of $1 million for the six months ended June 30, 2014 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. | ||||||||||||||||||||||||||||
30-Jun-14 | December 31, 2013 | |||||||||||||||||||||||||||
(in millions) | Amortized cost | Gross unrealized gains | Gross unrealized losses | Fair value | Amortized cost | Gross unrealized gains | Gross unrealized losses | Fair value | ||||||||||||||||||||
Available-for-sale debt securities | ||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||
U.S. government agencies(a) | $ | 62,353 | $ | 2,328 | $ | 169 | $ | 64,512 | $ | 76,428 | $ | 2,364 | $ | 977 | $ | 77,815 | ||||||||||||
Residential: | ||||||||||||||||||||||||||||
Prime and Alt-A | 3,487 | 75 | 27 | 3,535 | 2,744 | 61 | 27 | 2,778 | ||||||||||||||||||||
Subprime | 815 | 20 | — | 835 | 908 | 23 | 1 | 930 | ||||||||||||||||||||
Non-U.S. | 52,466 | 1,403 | — | 53,869 | 57,448 | 1,314 | 1 | 58,761 | ||||||||||||||||||||
Commercial | 17,816 | 601 | 4 | 18,413 | 15,891 | 560 | 26 | 16,425 | ||||||||||||||||||||
Total mortgage-backed securities | 136,937 | 4,427 | 200 | 141,164 | 153,419 | 4,322 | 1,032 | 156,709 | ||||||||||||||||||||
U.S. Treasury and government agencies(a) | 19,279 | 82 | 2 | 19,359 | 21,310 | 385 | 306 | 21,389 | ||||||||||||||||||||
Obligations of U.S. states and municipalities | 26,480 | 1,694 | 88 | 28,086 | 29,741 | 707 | 987 | 29,461 | ||||||||||||||||||||
Certificates of deposit | 1,411 | 1 | 2 | 1,410 | 1,041 | 1 | 1 | 1,041 | ||||||||||||||||||||
Non-U.S. government debt securities | 56,727 | 1,170 | 52 | 57,845 | 55,507 | 863 | 122 | 56,248 | ||||||||||||||||||||
Corporate debt securities | 20,779 | 590 | 13 | 21,356 | 21,043 | 498 | 29 | 21,512 | ||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||
Collateralized loan obligations | 28,299 | 224 | 73 | 28,450 | 28,130 | 236 | 136 | 28,230 | ||||||||||||||||||||
Other | 12,890 | 218 | — | 13,108 | 12,062 | 186 | 3 | 12,245 | ||||||||||||||||||||
Total available-for-sale debt securities | 302,802 | 8,406 | 430 | 310,778 | 322,253 | 7,198 | 2,616 | 326,835 | ||||||||||||||||||||
Available-for-sale equity securities | 3,278 | 13 | — | 3,291 | 3,125 | 17 | — | 3,142 | ||||||||||||||||||||
Total available-for-sale securities | $ | 306,080 | $ | 8,419 | $ | 430 | $ | 314,069 | $ | 325,378 | $ | 7,215 | $ | 2,616 | $ | 329,977 | ||||||||||||
Total held-to-maturity securities(b) | $ | 47,849 | $ | 1,314 | $ | — | $ | 49,163 | $ | 24,026 | $ | 22 | $ | 317 | $ | 23,731 | ||||||||||||
(a) | Included total U.S. government-sponsored enterprise obligations with fair values of $58.2 billion and $67.0 billion at June 30, 2014, and December 31, 2013, respectively. | |||||||||||||||||||||||||||
(b) | As of June 30, 2014, consists of MBS issued by U. S. government-sponsored enterprises with an amortized cost of $35.4 billion, MBS issued by U.S. government agencies with an amortized cost of $4.1 billion and obligations of U.S. states and municipalities with an amortized cost of $8.3 billion. 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 investment securities by aging category at June 30, 2014, and December 31, 2013. | ||||||||||||||||||||||||||||
Securities with gross unrealized losses | ||||||||||||||||||||||||||||
Less than 12 months | 12 months or more | |||||||||||||||||||||||||||
June 30, 2014 (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 | $ | 1,354 | $ | 17 | $ | 7,131 | $ | 152 | $ | 8,485 | $ | 169 | ||||||||||||||||
Residential: | ||||||||||||||||||||||||||||
Prime and Alt-A | 536 | 2 | 462 | 25 | 998 | 27 | ||||||||||||||||||||||
Subprime | — | — | — | — | — | — | ||||||||||||||||||||||
Non-U.S. | — | — | — | — | — | — | ||||||||||||||||||||||
Commercial | — | — | 165 | 4 | 165 | 4 | ||||||||||||||||||||||
Total mortgage-backed securities | 1,890 | 19 | 7,758 | 181 | 9,648 | 200 | ||||||||||||||||||||||
U.S. Treasury and government agencies | — | — | 1,994 | 2 | 1,994 | 2 | ||||||||||||||||||||||
Obligations of U.S. states and municipalities | 3,574 | 75 | 556 | 13 | 4,130 | 88 | ||||||||||||||||||||||
Certificates of deposit | 1,276 | 2 | — | — | 1,276 | 2 | ||||||||||||||||||||||
Non-U.S. government debt securities | 8,925 | 18 | 1,481 | 34 | 10,406 | 52 | ||||||||||||||||||||||
Corporate debt securities | 2,193 | 8 | 337 | 5 | 2,530 | 13 | ||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||
Collateralized loan obligations | 9,052 | 28 | 5,102 | 45 | 14,154 | 73 | ||||||||||||||||||||||
Other | — | — | — | — | — | — | ||||||||||||||||||||||
Total available-for-sale debt securities | 26,910 | 150 | 17,228 | 280 | 44,138 | 430 | ||||||||||||||||||||||
Available-for-sale equity securities | — | — | — | — | — | — | ||||||||||||||||||||||
Held-to-maturity securities | — | — | — | — | — | — | ||||||||||||||||||||||
Total securities with gross unrealized losses | $ | 26,910 | $ | 150 | $ | 17,228 | $ | 280 | $ | 44,138 | $ | 430 | ||||||||||||||||
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 | ||||||||||||||||
Changes in the credit loss component of credit-impaired debt securities | ||||||||||||||||||||||||||||
The following table presents a rollforward for the three and six months ended June 30, 2014 and 2013, 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. | ||||||||||||||||||||||||||||
Three months ended June 30, | Six months | |||||||||||||||||||||||||||
ended June 30, | ||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||
Balance, beginning of period | $ | 1 | $ | 519 | $ | 1 | $ | 522 | ||||||||||||||||||||
Reductions: | ||||||||||||||||||||||||||||
Sales and redemptions of credit-impaired securities | — | — | — | (3 | ) | |||||||||||||||||||||||
Balance, end of period | $ | 1 | $ | 519 | $ | 1 | $ | 519 | ||||||||||||||||||||
Gross unrealized losses | ||||||||||||||||||||||||||||
Gross unrealized losses have generally decreased since December 31, 2013. Though losses on securities that have been in an unrealized loss position for 12 months or more have increased, the increase is not material. The Firm has recognized the unrealized losses on securities it intends to sell. As of June 30, 2014, the Firm does not intend to sell any investment securities with unrealized losses recorded 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 noted above for which credit losses have been recognized in income, the Firm believes that the securities in an unrealized loss position are not other-than-temporarily impaired as of June 30, 2014. | ||||||||||||||||||||||||||||
Contractual maturities and yields | ||||||||||||||||||||||||||||
The following table presents the amortized cost and estimated fair value at June 30, 2014, 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 | |||||||||||||||||||||||
30-Jun-14 | year or less | 10 years(c) | ||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
Available-for-sale debt securities | ||||||||||||||||||||||||||||
Mortgage-backed securities(a) | ||||||||||||||||||||||||||||
Amortized cost | $ | 677 | $ | 18,314 | $ | 9,278 | $ | 108,668 | $ | 136,937 | ||||||||||||||||||
Fair value | 683 | 18,811 | 9,538 | 112,132 | 141,164 | |||||||||||||||||||||||
Average yield(b) | 2.5 | % | 1.69 | % | 2.67 | % | 3.07 | % | 2.86 | % | ||||||||||||||||||
U.S. Treasury and government agencies(a) | ||||||||||||||||||||||||||||
Amortized cost | $ | 12,418 | $ | 3,998 | $ | 1,887 | $ | 976 | $ | 19,279 | ||||||||||||||||||
Fair value | 12,430 | 4,007 | 1,890 | 1,032 | 19,359 | |||||||||||||||||||||||
Average yield(b) | 0.27 | % | 0.51 | % | 0.3 | % | 0.72 | % | 0.34 | % | ||||||||||||||||||
Obligations of U.S. states and municipalities | ||||||||||||||||||||||||||||
Amortized cost | $ | 60 | $ | 467 | $ | 1,407 | $ | 24,546 | $ | 26,480 | ||||||||||||||||||
Fair value | 60 | 491 | 1,467 | 26,068 | 28,086 | |||||||||||||||||||||||
Average yield(b) | 2.61 | % | 4.4 | % | 4.28 | % | 6.82 | % | 6.63 | % | ||||||||||||||||||
Certificates of deposit | ||||||||||||||||||||||||||||
Amortized cost | $ | 1,359 | $ | 52 | $ | — | $ | — | $ | 1,411 | ||||||||||||||||||
Fair value | 1,357 | 53 | — | — | 1,410 | |||||||||||||||||||||||
Average yield(b) | 2.67 | % | 3.28 | % | — | % | — | % | 2.69 | % | ||||||||||||||||||
Non-U.S. government debt securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 11,946 | $ | 15,186 | $ | 25,380 | $ | 4,215 | $ | 56,727 | ||||||||||||||||||
Fair value | 11,976 | 15,419 | 26,066 | 4,384 | 57,845 | |||||||||||||||||||||||
Average yield(b) | 3.52 | % | 2.51 | % | 1.25 | % | 1.2 | % | 2.06 | % | ||||||||||||||||||
Corporate debt securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 3,692 | $ | 10,843 | $ | 6,244 | $ | — | $ | 20,779 | ||||||||||||||||||
Fair value | 3,707 | 11,139 | 6,510 | — | 21,356 | |||||||||||||||||||||||
Average yield(b) | 2.15 | % | 2.35 | % | 2.47 | % | — | % | 2.35 | % | ||||||||||||||||||
Asset-backed securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 15 | $ | 3,382 | $ | 17,523 | $ | 20,269 | $ | 41,189 | ||||||||||||||||||
Fair value | 15 | 3,408 | 17,653 | 20,482 | 41,558 | |||||||||||||||||||||||
Average yield(b) | 2.15 | % | 2.1 | % | 1.79 | % | 1.8 | % | 1.82 | % | ||||||||||||||||||
Total available-for-sale debt securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 30,167 | $ | 52,242 | $ | 61,719 | $ | 158,674 | $ | 302,802 | ||||||||||||||||||
Fair value | 30,228 | 53,328 | 63,124 | 164,098 | 310,778 | |||||||||||||||||||||||
Average yield(b) | 1.95 | % | 2.02 | % | 1.78 | % | 3.42 | % | 2.7 | % | ||||||||||||||||||
Available-for-sale equity securities | ||||||||||||||||||||||||||||
Amortized cost | $ | — | $ | — | $ | — | $ | 3,278 | $ | 3,278 | ||||||||||||||||||
Fair value | — | — | — | 3,291 | 3,291 | |||||||||||||||||||||||
Average yield(b) | — | % | — | % | — | % | 0.18 | % | 0.18 | % | ||||||||||||||||||
Total available-for-sale securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 30,167 | $ | 52,242 | $ | 61,719 | $ | 161,952 | $ | 306,080 | ||||||||||||||||||
Fair value | 30,228 | 53,328 | 63,124 | 167,389 | 314,069 | |||||||||||||||||||||||
Average yield(b) | 1.95 | % | 2.02 | % | 1.78 | % | 3.36 | % | 2.67 | % | ||||||||||||||||||
Total held-to-maturity securities | ||||||||||||||||||||||||||||
Amortized cost | $ | — | $ | 56 | $ | 346 | $ | 47,447 | $ | 47,849 | ||||||||||||||||||
Fair value | — | 56 | 358 | 48,749 | 49,163 | |||||||||||||||||||||||
Average yield(b) | — | % | 4.28 | % | 4.75 | % | 3.91 | % | 3.92 | % | ||||||||||||||||||
(a) | U.S. government-sponsored enterprises were the only issuers whose securities exceeded 10% of JPMorgan Chase’s total stockholders’ equity at June 30, 2014. | |||||||||||||||||||||||||||
(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 six years for agency residential mortgage-backed securities, three years for agency residential collateralized mortgage obligations and four years for nonagency residential collateralized mortgage obligations. |
Securities_Financing_Activitie
Securities Financing Activities | 6 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||
Securities Financing Transactions Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||
Securities financing activities | ' | ||||||||||||||||||||||||||||
Securities financing activities | |||||||||||||||||||||||||||||
For a discussion of accounting policies relating to securities financing activities, see Note 13 of JPMorgan Chase’s 2013 Annual Report. For further information regarding securities borrowed and securities lending agreements for which the fair value option has been elected, see Note 4. For further information regarding assets pledged and collateral received in securities financing agreements, see Note 22. | |||||||||||||||||||||||||||||
The following table presents as of June 30, 2014, and December 31, 2013, 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. | |||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||
(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 | $ | 365,647 | $ | (124,143 | ) | $ | 241,504 | $ | 354,814 | $ | (115,408 | ) | $ | 239,406 | |||||||||||||||
Securities purchased under resale agreements where an appropriate legal opinion has not been either sought or obtained | 6,318 | 6,318 | 8,279 | 8,279 | |||||||||||||||||||||||||
Total securities purchased under resale agreements | $ | 371,965 | $ | (124,143 | ) | $ | 247,822 | (a) | $ | 363,093 | $ | (115,408 | ) | $ | 247,685 | (a) | |||||||||||||
Securities borrowed | $ | 113,967 | NA | $ | 113,967 | (b)(c) | $ | 111,465 | NA | $ | 111,465 | (b)(c) | |||||||||||||||||
(a) | At June 30, 2014, and December 31, 2013, included securities purchased under resale agreements of $27.8 billion and $25.1 billion, respectively, accounted for at fair value. | ||||||||||||||||||||||||||||
(b) | At June 30, 2014, and December 31, 2013, included securities borrowed of $2.1 billion and $3.7 billion, respectively, accounted for at fair value. | ||||||||||||||||||||||||||||
(c) | Included $27.2 billion and $26.9 billion at June 30, 2014, and December 31, 2013, respectively, of securities borrowed 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 June 30, 2014, and December 31, 2013, 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. | |||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | ||||||||||||||||||||||||||||
Amounts not nettable on the Consolidated Balance Sheets(a) | Amounts not nettable on the Consolidated Balance Sheets(a) | ||||||||||||||||||||||||||||
(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 | $ | 241,504 | $ | (238,035 | ) | $ | (192 | ) | $ | 3,277 | $ | 239,406 | $ | (234,495 | ) | $ | (98 | ) | $ | 4,813 | |||||||||
Securities borrowed | $ | 86,802 | $ | (84,106 | ) | $ | — | $ | 2,696 | $ | 84,531 | $ | (81,127 | ) | $ | — | $ | 3,404 | |||||||||||
(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 June 30, 2014, and December 31, 2013, 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. | |||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Gross liability balance | Amounts netted | Net liability balance | Gross liability balance | Amounts netted | Net liability balance | |||||||||||||||||||||||
on the Consolidated Balance Sheets | on the Consolidated Balance Sheets | ||||||||||||||||||||||||||||
Securities sold under repurchase agreements | |||||||||||||||||||||||||||||
Securities sold under repurchase agreements with an appropriate legal opinion | $ | 300,208 | $ | (124,143 | ) | $ | 176,065 | $ | 257,630 | (f) | $ | (115,408 | ) | $ | 142,222 | (f) | |||||||||||||
Securities sold under repurchase agreements where an appropriate legal opinion has not been either sought or obtained(a) | 18,910 | 18,910 | 18,143 | (f) | 18,143 | (f) | |||||||||||||||||||||||
Total securities sold under repurchase agreements | $ | 319,118 | $ | (124,143 | ) | $ | 194,975 | (c) | $ | 275,773 | $ | (115,408 | ) | $ | 160,365 | (c) | |||||||||||||
Securities loaned(b) | $ | 26,206 | NA | $ | 26,206 | (d)(e) | $ | 25,769 | NA | $ | 25,769 | (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 $5.7 billion and $5.8 billion at June 30, 2014, and December 31, 2013, respectively, when acting as lender and as presented within other liabilities in the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
(c) | At June 30, 2014, and December 31, 2013, included securities sold under repurchase agreements of $2.6 billion and $4.9 billion, respectively, accounted for at fair value. | ||||||||||||||||||||||||||||
(d) | At December 31, 2013, included securities loaned of $483 million accounted for at fair value; there were no securities loaned accounted for at fair value as of June 30, 2014. | ||||||||||||||||||||||||||||
(e) | Included $472 million and $397 million at June 30, 2014, and December 31, 2013, respectively, of securities loaned where an appropriate legal opinion has not been either sought or obtained with respect to the master netting agreement. | ||||||||||||||||||||||||||||
(f) | 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 June 30, 2014, and December 31, 2013, 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. | |||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | ||||||||||||||||||||||||||||
Amounts not nettable | Amounts not nettable | ||||||||||||||||||||||||||||
on the Consolidated balance sheets(a) | on the Consolidated | ||||||||||||||||||||||||||||
balance sheets(a) | |||||||||||||||||||||||||||||
(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 | $ | 176,065 | $ | (173,730 | ) | $ | (345 | ) | $ | 1,990 | $ | 142,222 | (d) | $ | (139,051 | ) | (d) | $ | (450 | ) | $ | 2,721 | |||||||
Securities loaned | $ | 25,734 | $ | (25,390 | ) | $ | — | $ | 344 | $ | 25,372 | $ | (25,125 | ) | $ | — | $ | 247 | |||||||||||
(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. | ||||||||||||||||||||||||||||
(d) | The prior period amounts have been revised with a corresponding impact in the table above. This revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | ||||||||||||||||||||||||||||
Transfers not qualifying for sale accounting | |||||||||||||||||||||||||||||
At June 30, 2014, and December 31, 2013, the Firm held $14.1 billion and $14.6 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, and accounts payable and other liabilities, on the Consolidated Balance Sheets. |
Loans
Loans | 6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [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 | |||||||||||||||||||||||||||||||||||||||||||
For a detailed discussion of loans, including accounting policies, see Note 14 of JPMorgan Chase’s 2013 Annual Report. See Note 4 of this Form 10-Q for further information on the Firm’s elections of fair value accounting under the fair value option. See Note 3 of this Form 10-Q for further information on loans carried at fair value and classified as trading assets. | ||||||||||||||||||||||||||||||||||||||||||||
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 special-purpose entities (“SPEs”) and loans to private banking clients. See Note 1 of JPMorgan Chase’s 2013 Annual Report for additional information on SPEs. | |||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the Firm’s loan balances by portfolio segment. | ||||||||||||||||||||||||||||||||||||||||||||
June 30, 2014 | Consumer, excluding credit card | Credit card(a) | Wholesale | Total | ||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Retained | $ | 288,214 | $ | 125,621 | $ | 321,534 | $ | 735,369 | (b) | |||||||||||||||||||||||||||||||||||
Held-for-sale | 964 | 508 | 5,839 | 7,311 | ||||||||||||||||||||||||||||||||||||||||
At fair value | — | — | 4,303 | 4,303 | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 289,178 | $ | 126,129 | $ | 331,676 | $ | 746,983 | ||||||||||||||||||||||||||||||||||||
31-Dec-13 | 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 | ||||||||||||||||||||||||||||||||||||
(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 at both June 30, 2014, and December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||
The following tables provide 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. | ||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||
Three months ended | Consumer, excluding credit card | Credit card | Wholesale | Total | Consumer, excluding credit card | Credit card | Wholesale | Total | ||||||||||||||||||||||||||||||||||||
June 30, | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Purchases | $ | 2,167 | (a)(b) | $ | — | $ | 156 | $ | 2,323 | $ | 1,590 | (a)(b) | $ | 328 | $ | 191 | $ | 2,109 | ||||||||||||||||||||||||||
Sales | 1,352 | — | 2,323 | 3,675 | 1,233 | — | 1,425 | 2,658 | ||||||||||||||||||||||||||||||||||||
Retained loans reclassified to held-for-sale | 802 | 215 | 212 | 1,229 | 708 | — | 677 | 1,385 | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||
Six months ended | Consumer, excluding credit card | Credit card | Wholesale | Total | Consumer, excluding credit card | Credit card | Wholesale | Total | ||||||||||||||||||||||||||||||||||||
June 30, | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Purchases | $ | 3,749 | (a)(b) | $ | — | $ | 277 | $ | 4,026 | $ | 4,215 | (a)(b) | $ | 328 | $ | 286 | $ | 4,829 | ||||||||||||||||||||||||||
Sales | 2,243 | — | 4,679 | 6,922 | 2,662 | — | 2,578 | 5,240 | ||||||||||||||||||||||||||||||||||||
Retained loans reclassified to held-for-sale | 802 | 215 | 509 | 1,526 | 708 | — | 1,021 | 1,729 | ||||||||||||||||||||||||||||||||||||
(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 $2.4 billion and $1.3 billion for the three months ended June 30, 2014 and 2013, respectively, and $4.1 billion and $2.2 billion for the six months ended June 30, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||||||||||
The following table provides information about gains/(losses) on loan sales by portfolio segment. | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Six months ended | |||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||
Net gains/(losses) on sales of loans (including lower of cost or fair value adjustments)(a) | ||||||||||||||||||||||||||||||||||||||||||||
Consumer, excluding credit card | $ | 84 | $ | 112 | $ | 126 | $ | 256 | ||||||||||||||||||||||||||||||||||||
Credit card | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Wholesale | 3 | (14 | ) | 27 | (7 | ) | ||||||||||||||||||||||||||||||||||||||
Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) | $ | 87 | $ | 98 | $ | 153 | $ | 249 | ||||||||||||||||||||||||||||||||||||
(a) | Excludes sales related to loans accounted for at fair value. | |||||||||||||||||||||||||||||||||||||||||||
Consumer, excluding credit card | ' | |||||||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [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. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | June 30, | December 31, | ||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||
Residential real estate – | ||||||||||||||||||||||||||||||||||||||||||||
excluding PCI | ||||||||||||||||||||||||||||||||||||||||||||
Home equity: | ||||||||||||||||||||||||||||||||||||||||||||
Senior lien | $ | 16,222 | $ | 17,113 | ||||||||||||||||||||||||||||||||||||||||
Junior lien | 38,263 | 40,750 | ||||||||||||||||||||||||||||||||||||||||||
Mortgages: | ||||||||||||||||||||||||||||||||||||||||||||
Prime, including option ARMs | 93,239 | 87,162 | ||||||||||||||||||||||||||||||||||||||||||
Subprime | 6,552 | 7,104 | ||||||||||||||||||||||||||||||||||||||||||
Other consumer loans | ||||||||||||||||||||||||||||||||||||||||||||
Auto | 53,042 | 52,757 | ||||||||||||||||||||||||||||||||||||||||||
Business banking | 19,453 | 18,951 | ||||||||||||||||||||||||||||||||||||||||||
Student and other | 11,325 | 11,557 | ||||||||||||||||||||||||||||||||||||||||||
Residential real estate – PCI | ||||||||||||||||||||||||||||||||||||||||||||
Home equity | 18,070 | 18,927 | ||||||||||||||||||||||||||||||||||||||||||
Prime mortgage | 11,302 | 12,038 | ||||||||||||||||||||||||||||||||||||||||||
Subprime mortgage | 3,947 | 4,175 | ||||||||||||||||||||||||||||||||||||||||||
Option ARMs | 16,799 | 17,915 | ||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 288,214 | $ | 288,449 | ||||||||||||||||||||||||||||||||||||||||
For further information on consumer credit quality indicators, see Note 14 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||||||||||||||||||
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 | Mortgages | |||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | Senior lien | Junior lien | Prime, including | Subprime | Total residential real estate – excluding PCI | |||||||||||||||||||||||||||||||||||||||
option ARMs | ||||||||||||||||||||||||||||||||||||||||||||
Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||
Loan delinquency(a) | ||||||||||||||||||||||||||||||||||||||||||||
Current | $ | 15,630 | $ | 16,470 | $ | 37,503 | $ | 39,864 | $ | 82,780 | $ | 76,108 | $ | 5,618 | $ | 5,956 | $ | 141,531 | $ | 138,398 | ||||||||||||||||||||||||
30–149 days past due | 251 | 298 | 526 | 662 | 3,466 | 3,155 | 569 | 646 | 4,812 | 4,761 | ||||||||||||||||||||||||||||||||||
150 or more days past due | 341 | 345 | 234 | 224 | 6,993 | 7,899 | 365 | 502 | 7,933 | 8,970 | ||||||||||||||||||||||||||||||||||
Total retained loans | $ | 16,222 | $ | 17,113 | $ | 38,263 | $ | 40,750 | $ | 93,239 | $ | 87,162 | $ | 6,552 | $ | 7,104 | $ | 154,276 | $ | 152,129 | ||||||||||||||||||||||||
% of 30+ days past due to | 3.65 | % | 3.76 | % | 1.99 | % | 2.17 | % | 1.75 | % | 2.32 | % | 14.26 | % | 16.16 | % | 2.54 | % | 3.09 | % | ||||||||||||||||||||||||
total retained loans(b) | ||||||||||||||||||||||||||||||||||||||||||||
90 or more days past due and | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
still accruing | ||||||||||||||||||||||||||||||||||||||||||||
90 or more days past due and | — | — | — | — | 7,326 | 7,823 | — | — | 7,326 | 7,823 | ||||||||||||||||||||||||||||||||||
government guaranteed(c) | ||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans | 909 | 932 | 1,671 | 1,876 | 2,455 | 2,666 | 1,273 | 1,390 | 6,308 | 6,864 | ||||||||||||||||||||||||||||||||||
Current estimated LTV ratios(d)(e)(f) | ||||||||||||||||||||||||||||||||||||||||||||
Greater than 125% and refreshed | ||||||||||||||||||||||||||||||||||||||||||||
FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | $ | 22 | $ | 40 | $ | 628 | $ | 1,101 | $ | 954 | $ | 1,084 | $ | 22 | $ | 52 | $ | 1,626 | $ | 2,277 | ||||||||||||||||||||||||
Less than 660 | 12 | 22 | 192 | 346 | 181 | 303 | 102 | 197 | 487 | 868 | ||||||||||||||||||||||||||||||||||
101% to 125% and refreshed | ||||||||||||||||||||||||||||||||||||||||||||
FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 150 | 212 | 3,510 | 4,645 | 932 | 1,433 | 176 | 249 | 4,768 | 6,539 | ||||||||||||||||||||||||||||||||||
Less than 660 | 74 | 107 | 1,012 | 1,407 | 451 | 687 | 428 | 597 | 1,965 | 2,798 | ||||||||||||||||||||||||||||||||||
80% to 100% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 654 | 858 | 7,165 | 7,995 | 3,800 | 4,528 | 545 | 614 | 12,164 | 13,995 | ||||||||||||||||||||||||||||||||||
Less than 660 | 258 | 326 | 1,924 | 2,128 | 1,243 | 1,579 | 976 | 1,141 | 4,401 | 5,174 | ||||||||||||||||||||||||||||||||||
Less than 80% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 12,794 | 13,186 | 20,357 | 19,732 | 66,928 | 58,477 | 2,011 | 1,961 | 102,090 | 93,356 | ||||||||||||||||||||||||||||||||||
Less than 660 | 2,258 | 2,362 | 3,475 | 3,396 | 5,286 | 5,359 | 2,292 | 2,293 | 13,311 | 13,410 | ||||||||||||||||||||||||||||||||||
U.S. government-guaranteed | — | — | — | — | 13,464 | 13,712 | — | — | 13,464 | 13,712 | ||||||||||||||||||||||||||||||||||
Total retained loans | $ | 16,222 | $ | 17,113 | $ | 38,263 | $ | 40,750 | $ | 93,239 | $ | 87,162 | $ | 6,552 | $ | 7,104 | $ | 154,276 | $ | 152,129 | ||||||||||||||||||||||||
Geographic region | ||||||||||||||||||||||||||||||||||||||||||||
California | $ | 2,286 | $ | 2,397 | $ | 8,680 | $ | 9,240 | $ | 24,057 | $ | 21,876 | $ | 994 | $ | 1,069 | $ | 36,017 | $ | 34,582 | ||||||||||||||||||||||||
New York | 2,636 | 2,732 | 7,987 | 8,429 | 14,976 | 14,085 | 867 | 942 | 26,466 | 26,188 | ||||||||||||||||||||||||||||||||||
Illinois | 1,199 | 1,248 | 2,655 | 2,815 | 5,699 | 5,216 | 257 | 280 | 9,810 | 9,559 | ||||||||||||||||||||||||||||||||||
Florida | 806 | 847 | 2,029 | 2,167 | 4,778 | 4,598 | 825 | 885 | 8,438 | 8,497 | ||||||||||||||||||||||||||||||||||
Texas | 1,875 | 2,044 | 1,106 | 1,199 | 4,041 | 3,565 | 202 | 220 | 7,224 | 7,028 | ||||||||||||||||||||||||||||||||||
New Jersey | 609 | 630 | 2,323 | 2,442 | 2,878 | 2,679 | 306 | 339 | 6,116 | 6,090 | ||||||||||||||||||||||||||||||||||
Arizona | 957 | 1,019 | 1,704 | 1,827 | 1,525 | 1,385 | 135 | 144 | 4,321 | 4,375 | ||||||||||||||||||||||||||||||||||
Washington | 531 | 555 | 1,300 | 1,378 | 2,084 | 1,951 | 138 | 150 | 4,053 | 4,034 | ||||||||||||||||||||||||||||||||||
Michigan | 757 | 799 | 907 | 976 | 1,061 | 998 | 165 | 178 | 2,890 | 2,951 | ||||||||||||||||||||||||||||||||||
Ohio | 1,219 | 1,298 | 832 | 907 | 509 | 466 | 147 | 161 | 2,707 | 2,832 | ||||||||||||||||||||||||||||||||||
All other(g) | 3,347 | 3,544 | 8,740 | 9,370 | 31,631 | 30,343 | 2,516 | 2,736 | 46,234 | 45,993 | ||||||||||||||||||||||||||||||||||
Total retained loans | $ | 16,222 | $ | 17,113 | $ | 38,263 | $ | 40,750 | $ | 93,239 | $ | 87,162 | $ | 6,552 | $ | 7,104 | $ | 154,276 | $ | 152,129 | ||||||||||||||||||||||||
(a) | Individual delinquency classifications include mortgage loans insured by U.S. government agencies as follows: current included $4.6 billion and $4.7 billion; 30–149 days past due included $2.9 billion and $2.4 billion; and 150 or more days past due included $6.0 billion and $6.6 billion at June 30, 2014, and December 31, 2013, respectively. | |||||||||||||||||||||||||||||||||||||||||||
(b) | At June 30, 2014, and December 31, 2013, Prime, including option ARMs loans excluded mortgage loans insured by U.S. government agencies of $8.8 billion and $9.0 billion, respectively. These amounts have been excluded from nonaccrual loans based upon the government guarantee. | |||||||||||||||||||||||||||||||||||||||||||
(c) | 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 June 30, 2014, and December 31, 2013, these balances included $4.3 billion and $4.7 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. | |||||||||||||||||||||||||||||||||||||||||||
(d) | 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. | |||||||||||||||||||||||||||||||||||||||||||
(e) | 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. | |||||||||||||||||||||||||||||||||||||||||||
(f) | Refreshed FICO scores represent each borrower’s most recent credit score, which is obtained by the Firm on at least a quarterly basis. | |||||||||||||||||||||||||||||||||||||||||||
(g) | At June 30, 2014, and December 31, 2013, included mortgage loans insured by U.S. government agencies of $13.5 billion and $13.7 billion, respectively. | |||||||||||||||||||||||||||||||||||||||||||
The following tables represent the Firm’s delinquency statistics for junior lien home equity loans and lines as of June 30, 2014, and December 31, 2013. | ||||||||||||||||||||||||||||||||||||||||||||
Delinquencies | Total 30+ day delinquency rate | |||||||||||||||||||||||||||||||||||||||||||
30-Jun-14 | 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) | $ | 254 | $ | 85 | $ | 144 | $ | 28,300 | 1.71 | % | ||||||||||||||||||||||||||||||||||
Beyond the revolving period | 77 | 24 | 74 | 6,443 | 2.72 | |||||||||||||||||||||||||||||||||||||||
HELOANs | 65 | 21 | 16 | 3,520 | 2.9 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 396 | $ | 130 | $ | 234 | $ | 38,263 | 1.99 | % | ||||||||||||||||||||||||||||||||||
Delinquencies | Total 30+ day delinquency rate | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | 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 | % | ||||||||||||||||||||||||||||||||||
(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 troubled debt restructuring (“TDR”). All impaired loans are evaluated for an asset-specific allowance as described in Note 14. | ||||||||||||||||||||||||||||||||||||||||||||
Home equity | Mortgages | Total residential | ||||||||||||||||||||||||||||||||||||||||||
real estate | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Senior lien | Junior lien | Prime, including | Subprime | – excluding PCI | |||||||||||||||||||||||||||||||||||||||
option ARMs | ||||||||||||||||||||||||||||||||||||||||||||
Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||||||||||||||||
With an allowance | $ | 556 | $ | 567 | $ | 724 | $ | 727 | $ | 5,443 | $ | 5,871 | $ | 2,724 | $ | 2,989 | $ | 9,447 | $ | 10,154 | ||||||||||||||||||||||||
Without an allowance(a) | 563 | 579 | 586 | 592 | 1,275 | 1,133 | 754 | 709 | 3,178 | 3,013 | ||||||||||||||||||||||||||||||||||
Total impaired loans(b)(c) | $ | 1,119 | $ | 1,146 | $ | 1,310 | $ | 1,319 | $ | 6,718 | $ | 7,004 | $ | 3,478 | $ | 3,698 | $ | 12,625 | $ | 13,167 | ||||||||||||||||||||||||
Allowance for loan losses related to impaired loans | $ | 97 | $ | 94 | $ | 170 | $ | 162 | $ | 139 | $ | 144 | $ | 87 | $ | 94 | $ | 493 | $ | 494 | ||||||||||||||||||||||||
Unpaid principal balance of impaired loans(d) | 1,480 | 1,515 | 2,635 | 2,625 | 8,582 | 8,990 | 5,069 | 5,461 | 17,766 | 18,591 | ||||||||||||||||||||||||||||||||||
Impaired loans on nonaccrual status(e) | 629 | 641 | 641 | 666 | 1,703 | 1,737 | 1,078 | 1,127 | 4,051 | 4,171 | ||||||||||||||||||||||||||||||||||
(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 June 30, 2014, and December 31, 2013, $6.7 billion and $7.6 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) | Predominantly all residential real estate impaired loans, excluding PCI loans, are in the U.S. | |||||||||||||||||||||||||||||||||||||||||||
(d) | Represents the contractual amount of principal owed at June 30, 2014, and December 31, 2013. 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. | |||||||||||||||||||||||||||||||||||||||||||
(e) | As of June 30, 2014, and December 31, 2013, nonaccrual loans included $3.1 billion and $3.0 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 in Note 14 of JPMorgan Chase’s 2013 Annual Report. | |||||||||||||||||||||||||||||||||||||||||||
The following tables present average impaired loans and the related interest income reported by the Firm. | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Average impaired loans | Interest income on | Interest income on impaired | |||||||||||||||||||||||||||||||||||||||||
impaired loans(a) | loans on a cash basis(a) | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||
Home equity | ||||||||||||||||||||||||||||||||||||||||||||
Senior lien | $ | 1,128 | $ | 1,158 | $ | 14 | $ | 14 | $ | 10 | $ | 10 | ||||||||||||||||||||||||||||||||
Junior lien | 1,316 | 1,296 | 20 | 21 | 13 | 14 | ||||||||||||||||||||||||||||||||||||||
Mortgages | ||||||||||||||||||||||||||||||||||||||||||||
Prime, including option ARMs | 6,823 | 7,219 | 66 | 70 | 14 | 15 | ||||||||||||||||||||||||||||||||||||||
Subprime | 3,578 | 3,833 | 47 | 50 | 13 | 14 | ||||||||||||||||||||||||||||||||||||||
Total residential real estate – excluding PCI | $ | 12,845 | $ | 13,506 | $ | 147 | $ | 155 | $ | 50 | $ | 53 | ||||||||||||||||||||||||||||||||
Six months ended June 30, | Average impaired loans | Interest income on | Interest income on impaired | |||||||||||||||||||||||||||||||||||||||||
impaired loans(a) | loans on a cash basis(a) | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||
Home equity | ||||||||||||||||||||||||||||||||||||||||||||
Senior lien | $ | 1,135 | $ | 1,149 | $ | 28 | $ | 29 | $ | 19 | $ | 20 | ||||||||||||||||||||||||||||||||
Junior lien | 1,318 | 1,284 | 41 | 41 | 27 | 27 | ||||||||||||||||||||||||||||||||||||||
Mortgages | ||||||||||||||||||||||||||||||||||||||||||||
Prime, including option ARMs | 6,889 | 7,203 | 134 | 139 | 27 | 29 | ||||||||||||||||||||||||||||||||||||||
Subprime | 3,623 | 3,830 | 96 | 100 | 26 | 29 | ||||||||||||||||||||||||||||||||||||||
Total residential real estate – excluding PCI | $ | 12,965 | $ | 13,466 | $ | 299 | $ | 309 | $ | 99 | $ | 105 | ||||||||||||||||||||||||||||||||
(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 | ||||||||||||||||||||||||||||||||||||||||||||
The Firm is required to provide “borrower relief” under the terms of certain Consent Orders and settlements entered into by the Firm related to its mortgage servicing, originations and residential mortgage-backed securities activities. This “borrower relief” includes reductions of principal and forbearance. For further information on these Consent Orders and settlements, see Business changes and developments in Note 2 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||||||||||||||||||
Modifications of residential real estate loans, excluding PCI loans, are generally accounted for and reported as TDRs. There are 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 tables reconcile the beginning and ending balances of residential real estate loans, excluding PCI loans, modified in TDRs for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Home equity | Mortgages | Total residential | |||||||||||||||||||||||||||||||||||||||||
June 30, | Senior lien | Junior lien | Prime, including option ARMs | Subprime | real estate – excluding PCI | |||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||
Beginning balance of TDRs | $ | 1,136 | $ | 1,155 | $ | 1,319 | $ | 1,286 | $ | 6,894 | $ | 7,223 | $ | 3,625 | $ | 3,843 | $ | 12,974 | $ | 13,507 | ||||||||||||||||||||||||
New TDRs | 20 | 39 | 46 | 94 | 52 | 318 | 25 | 89 | 143 | 540 | ||||||||||||||||||||||||||||||||||
Charge-offs post-modification(a) | (5 | ) | (8 | ) | (11 | ) | (24 | ) | (4 | ) | (14 | ) | (11 | ) | (27 | ) | (31 | ) | (73 | ) | ||||||||||||||||||||||||
Foreclosures and other liquidations (e.g., short sales) | (5 | ) | (5 | ) | (4 | ) | (7 | ) | (16 | ) | (39 | ) | (9 | ) | (19 | ) | (34 | ) | (70 | ) | ||||||||||||||||||||||||
Principal payments and other | (27 | ) | (21 | ) | (40 | ) | (34 | ) | (208 | ) | (185 | ) | (152 | ) | (61 | ) | (427 | ) | (301 | ) | ||||||||||||||||||||||||
Ending balance of TDRs | $ | 1,119 | $ | 1,160 | $ | 1,310 | $ | 1,315 | $ | 6,718 | $ | 7,303 | $ | 3,478 | $ | 3,825 | $ | 12,625 | $ | 13,603 | ||||||||||||||||||||||||
Permanent modifications | $ | 1,083 | $ | 1,117 | $ | 1,306 | $ | 1,309 | $ | 6,625 | $ | 7,035 | $ | 3,404 | $ | 3,676 | $ | 12,418 | $ | 13,137 | ||||||||||||||||||||||||
Trial modifications | $ | 36 | $ | 43 | $ | 4 | $ | 6 | $ | 93 | $ | 268 | $ | 74 | $ | 149 | $ | 207 | $ | 466 | ||||||||||||||||||||||||
Six months ended | Home equity | Mortgages | Total residential | |||||||||||||||||||||||||||||||||||||||||
June 30, | Senior lien | Junior lien | Prime, including option ARMs | Subprime | real estate – excluding PCI | |||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||
Beginning balance of TDRs | $ | 1,146 | $ | 1,092 | $ | 1,319 | $ | 1,223 | $ | 7,004 | $ | 7,118 | $ | 3,698 | $ | 3,812 | $ | 13,167 | $ | 13,245 | ||||||||||||||||||||||||
New TDRs | 47 | 140 | 104 | 229 | 119 | 628 | 53 | 217 | 323 | 1,214 | ||||||||||||||||||||||||||||||||||
Charge-offs post-modification(a) | (11 | ) | (18 | ) | (30 | ) | (57 | ) | (11 | ) | (33 | ) | (33 | ) | (65 | ) | (85 | ) | (173 | ) | ||||||||||||||||||||||||
Foreclosures and other liquidations (e.g., short sales) | (11 | ) | (9 | ) | (6 | ) | (11 | ) | (44 | ) | (74 | ) | (21 | ) | (38 | ) | (82 | ) | (132 | ) | ||||||||||||||||||||||||
Principal payments and other | (52 | ) | (45 | ) | (77 | ) | (69 | ) | (350 | ) | (336 | ) | (219 | ) | (101 | ) | (698 | ) | (551 | ) | ||||||||||||||||||||||||
Ending balance of TDRs | $ | 1,119 | $ | 1,160 | $ | 1,310 | $ | 1,315 | $ | 6,718 | $ | 7,303 | $ | 3,478 | $ | 3,825 | $ | 12,625 | $ | 13,603 | ||||||||||||||||||||||||
Permanent modifications | $ | 1,083 | $ | 1,117 | $ | 1,306 | $ | 1,309 | $ | 6,625 | $ | 7,035 | $ | 3,404 | $ | 3,676 | $ | 12,418 | $ | 13,137 | ||||||||||||||||||||||||
Trial modifications | $ | 36 | $ | 43 | $ | 4 | $ | 6 | $ | 93 | $ | 268 | $ | 74 | $ | 149 | $ | 207 | $ | 466 | ||||||||||||||||||||||||
(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 tables provide information about how residential real estate loans, excluding PCI loans, were modified under the Firm’s loss mitigation programs during the periods presented. These tables exclude Chapter 7 loans where the sole concession granted is the discharge of debt. At June 30, 2014, there were approximately 35,200 of such Chapter 7 loans, consisting of approximately 8,300 senior lien home equity loans, 21,200 junior lien home equity loans, 2,900 prime mortgage, including option ARMs, and 2,800 subprime mortgages. | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Home equity | Mortgages | Total residential | |||||||||||||||||||||||||||||||||||||||||
real estate - | ||||||||||||||||||||||||||||||||||||||||||||
Senior lien | Junior lien | Prime, including option ARMs | Subprime | excluding PCI | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||
Number of loans approved for a trial modification | 218 | 562 | 157 | 172 | 261 | 856 | 529 | 1,123 | 1,165 | 2,713 | ||||||||||||||||||||||||||||||||||
Number of loans permanently modified | 226 | 405 | 699 | 1,353 | 386 | 1,137 | 493 | 1,458 | 1,804 | 4,353 | ||||||||||||||||||||||||||||||||||
Concession granted:(a) | ||||||||||||||||||||||||||||||||||||||||||||
Interest rate reduction | 64 | % | 70 | % | 88 | % | 85 | % | 65 | % | 73 | % | 68 | % | 72 | % | 75 | % | 76 | % | ||||||||||||||||||||||||
Term or payment extension | 86 | 73 | 83 | 76 | 79 | 69 | 71 | 53 | 79 | 66 | ||||||||||||||||||||||||||||||||||
Principal and/or interest deferred | 12 | 11 | 22 | 25 | 30 | 29 | 15 | 12 | 20 | 20 | ||||||||||||||||||||||||||||||||||
Principal forgiveness | 30 | 37 | 29 | 33 | 22 | 39 | 35 | 46 | 29 | 39 | ||||||||||||||||||||||||||||||||||
Other(b) | — | — | — | — | 18 | 24 | 9 | 13 | 6 | 11 | ||||||||||||||||||||||||||||||||||
Six months ended June 30, | Home equity | Mortgages | Total residential | |||||||||||||||||||||||||||||||||||||||||
real estate - | ||||||||||||||||||||||||||||||||||||||||||||
Senior lien | Junior lien | Prime, including option ARMs | Subprime | excluding PCI | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||
Number of loans approved for a trial modification | 419 | 1,062 | 341 | 368 | 516 | 1,832 | 1,028 | 2,612 | 2,304 | 5,874 | ||||||||||||||||||||||||||||||||||
Number of loans permanently modified | 521 | 950 | 1,657 | 2,669 | 917 | 2,613 | 1,260 | 3,147 | 4,355 | 9,379 | ||||||||||||||||||||||||||||||||||
Concession granted:(a) | ||||||||||||||||||||||||||||||||||||||||||||
Interest rate reduction | 65 | % | 72 | % | 86 | % | 88 | % | 62 | % | 74 | % | 63 | % | 71 | % | 72 | % | 77 | % | ||||||||||||||||||||||||
Term or payment extension | 83 | 73 | 83 | 77 | 84 | 69 | 72 | 51 | 80 | 66 | ||||||||||||||||||||||||||||||||||
Principal and/or interest deferred | 14 | 10 | 22 | 24 | 32 | 28 | 18 | 11 | 22 | 19 | ||||||||||||||||||||||||||||||||||
Principal forgiveness | 30 | 38 | 28 | 36 | 27 | 40 | 38 | 52 | 31 | 43 | ||||||||||||||||||||||||||||||||||
Other(b) | — | — | — | — | 17 | 24 | 12 | 15 | 7 | 12 | ||||||||||||||||||||||||||||||||||
(a) | 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. | |||||||||||||||||||||||||||||||||||||||||||
(b) | Represents variable interest rate to fixed interest rate modifications. | |||||||||||||||||||||||||||||||||||||||||||
Financial effects of modifications and redefaults | ||||||||||||||||||||||||||||||||||||||||||||
The following tables provide 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 excludes Chapter 7 loans where the sole concession granted is the discharge of debt. | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Home equity | Mortgages | Total residential real estate – excluding PCI | |||||||||||||||||||||||||||||||||||||||||
(in millions, except weighted-average | Senior lien | Junior lien | Prime, including option ARMs | Subprime | ||||||||||||||||||||||||||||||||||||||||
data and number of loans) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 6.58 | % | 6.78 | % | 4.94 | % | 5.1 | % | 5.17 | % | 5.09 | % | 7.28 | % | 7.26 | % | 5.82 | % | 5.76 | % | ||||||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.93 | 3.34 | 2.04 | 2.28 | 2.54 | 2.78 | 3.47 | 3.5 | 2.72 | 2.94 | ||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 17 | 17 | 19 | 19 | 25 | 25 | 24 | 24 | 23 | 24 | ||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 29 | 31 | 34 | 34 | 37 | 37 | 35 | 35 | 35 | 36 | ||||||||||||||||||||||||||||||||||
Charge-offs recognized upon permanent modification | $ | — | $ | 2 | $ | 8 | $ | 23 | $ | 2 | $ | 6 | $ | — | $ | 3 | $ | 10 | $ | 34 | ||||||||||||||||||||||||
Principal deferred | 1 | 1 | 3 | 7 | 10 | 32 | 4 | 11 | 18 | 51 | ||||||||||||||||||||||||||||||||||
Principal forgiven | 3 | 7 | 6 | 13 | 8 | 57 | 11 | 55 | 28 | 132 | ||||||||||||||||||||||||||||||||||
Number of loans that redefaulted within one year of permanent modification(a) | 67 | 95 | 195 | 248 | 163 | 189 | 269 | 317 | 694 | 849 | ||||||||||||||||||||||||||||||||||
Balance of loans that redefaulted within one year of permanent modification(a) | $ | 4 | $ | 7 | $ | 3 | $ | 6 | $ | 44 | $ | 54 | $ | 28 | $ | 31 | $ | 79 | $ | 98 | ||||||||||||||||||||||||
Six months ended June 30, | Home equity | Mortgages | Total residential real estate – excluding PCI | |||||||||||||||||||||||||||||||||||||||||
(in millions, except weighted-average | Senior lien | Junior lien | Prime, including option ARMs | Subprime | ||||||||||||||||||||||||||||||||||||||||
data and number of loans) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 6.63 | % | 6.53 | % | 4.83 | % | 5.14 | % | 5.2 | % | 5.37 | % | 7.44 | % | 7.48 | % | 5.88 | % | 5.99 | % | ||||||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.98 | 3.44 | 1.91 | 2.22 | 2.67 | 2.83 | 3.43 | 3.54 | 2.75 | 2.98 | ||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 18 | 18 | 19 | 19 | 24 | 24 | 24 | 24 | 23 | 23 | ||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 30 | 31 | 35 | 34 | 37 | 37 | 36 | 34 | 36 | 35 | ||||||||||||||||||||||||||||||||||
Charge-offs recognized upon permanent modification | $ | 1 | $ | 4 | $ | 22 | $ | 42 | $ | 4 | $ | 11 | $ | 1 | $ | 6 | $ | 28 | $ | 63 | ||||||||||||||||||||||||
Principal deferred | 2 | 3 | 6 | 14 | 23 | 67 | 11 | 21 | 42 | 105 | ||||||||||||||||||||||||||||||||||
Principal forgiven | 6 | 17 | 17 | 29 | 25 | 130 | 32 | 139 | 80 | 315 | ||||||||||||||||||||||||||||||||||
Number of loans that redefaulted within one year of permanent modification(a) | 133 | 226 | 388 | 594 | 285 | 397 | 436 | 629 | 1,242 | 1,846 | ||||||||||||||||||||||||||||||||||
Balance of loans that redefaulted within one year of permanent modification(a) | $ | 10 | $ | 17 | $ | 6 | $ | 13 | $ | 70 | $ | 104 | $ | 43 | $ | 63 | $ | 129 | $ | 197 | ||||||||||||||||||||||||
(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 Home Affordable Modification Program (“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 June 30, 2014, 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 18% for senior lien home equity, 20% for junior lien home equity, 15% for prime mortgages, including option ARMs, and 27% 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 June 30, 2014, Chapter 7 residential real estate loans included approximately 18% of senior lien home equity, 11% of junior lien home equity, 28% of prime mortgages, including option ARMs, and 18% of subprime mortgages that were 30 days or more past due. | ||||||||||||||||||||||||||||||||||||||||||||
At June 30, 2014, 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, 9 years for prime mortgages, including option ARMs, and 8 years for subprime mortgages. 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. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | Auto | Business banking | Student and other | Total other consumer | ||||||||||||||||||||||||||||||||||||||||
Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||
Loan delinquency(a) | ||||||||||||||||||||||||||||||||||||||||||||
Current | $ | 52,549 | $ | 52,152 | $ | 19,097 | $ | 18,511 | $ | 10,411 | $ | 10,529 | $ | 82,057 | $ | 81,192 | ||||||||||||||||||||||||||||
30–119 days past due | 489 | 599 | 204 | 280 | 621 | 660 | 1,314 | 1,539 | ||||||||||||||||||||||||||||||||||||
120 or more days past due | 4 | 6 | 152 | 160 | 293 | 368 | 449 | 534 | ||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 53,042 | $ | 52,757 | $ | 19,453 | $ | 18,951 | $ | 11,325 | $ | 11,557 | $ | 83,820 | $ | 83,265 | ||||||||||||||||||||||||||||
% of 30+ days past due to total retained loans | 0.93 | % | 1.15 | % | 1.83 | % | 2.32 | % | 2.51 | % | (d) | 2.52 | % | (d) | 1.35 | % | (d) | 1.6 | % | (d) | ||||||||||||||||||||||||
90 or more days past due and still accruing (b) | $ | — | $ | — | $ | — | $ | — | $ | 316 | $ | 428 | $ | 316 | $ | 428 | ||||||||||||||||||||||||||||
Nonaccrual loans | 103 | 161 | 326 | 385 | 170 | 86 | 599 | 632 | ||||||||||||||||||||||||||||||||||||
Geographic region | ||||||||||||||||||||||||||||||||||||||||||||
California | $ | 5,957 | $ | 5,615 | $ | 2,740 | $ | 2,374 | $ | 1,124 | $ | 1,112 | $ | 9,821 | $ | 9,101 | ||||||||||||||||||||||||||||
New York | 3,689 | 3,898 | 3,128 | 3,084 | 1,248 | 1,218 | 8,065 | 8,200 | ||||||||||||||||||||||||||||||||||||
Illinois | 2,966 | 2,917 | 1,296 | 1,341 | 750 | 740 | 5,012 | 4,998 | ||||||||||||||||||||||||||||||||||||
Florida | 2,094 | 2,012 | 708 | 646 | 536 | 539 | 3,338 | 3,197 | ||||||||||||||||||||||||||||||||||||
Texas | 5,310 | 5,310 | 2,592 | 2,646 | 870 | 878 | 8,772 | 8,834 | ||||||||||||||||||||||||||||||||||||
New Jersey | 1,942 | 2,014 | 407 | 392 | 390 | 397 | 2,739 | 2,803 | ||||||||||||||||||||||||||||||||||||
Arizona | 1,949 | 1,855 | 981 | 1,046 | 253 | 252 | 3,183 | 3,153 | ||||||||||||||||||||||||||||||||||||
Washington | 1,001 | 950 | 238 | 234 | 235 | 227 | 1,474 | 1,411 | ||||||||||||||||||||||||||||||||||||
Michigan | 1,771 | 1,902 | 1,363 | 1,383 | 489 | 513 | 3,623 | 3,798 | ||||||||||||||||||||||||||||||||||||
Ohio | 2,148 | 2,229 | 1,304 | 1,316 | 670 | 708 | 4,122 | 4,253 | ||||||||||||||||||||||||||||||||||||
All other | 24,215 | 24,055 | 4,696 | 4,489 | 4,760 | 4,973 | 33,671 | 33,517 | ||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 53,042 | $ | 52,757 | $ | 19,453 | $ | 18,951 | $ | 11,325 | $ | 11,557 | $ | 83,820 | $ | 83,265 | ||||||||||||||||||||||||||||
Loans by risk ratings(c) | ||||||||||||||||||||||||||||||||||||||||||||
Noncriticized | $ | 9,269 | $ | 9,968 | $ | 14,065 | $ | 13,622 | NA | NA | $ | 23,334 | $ | 23,590 | ||||||||||||||||||||||||||||||
Criticized performing | 34 | 54 | 740 | 711 | NA | NA | 774 | 765 | ||||||||||||||||||||||||||||||||||||
Criticized nonaccrual | — | 38 | 271 | 316 | NA | NA | 271 | 354 | ||||||||||||||||||||||||||||||||||||
(a) | Individual delinquency classifications included loans insured by U.S. government agencies under the Federal Family Education Loan Program (“FFELP”) as follows: current included $4.7 billion and $4.9 billion; 30-119 days past due included $359 million and $387 million; and 120 or more days past due included $271 million and $350 million at June 30, 2014, and December 31, 2013, respectively. | |||||||||||||||||||||||||||||||||||||||||||
(b) | These amounts represent student loans, which are insured by U.S. government agencies under the FFELP. These amounts were accruing based upon the government guarantee. | |||||||||||||||||||||||||||||||||||||||||||
(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) | June 30, 2014, and December 31, 2013, excluded loans 30 days or more past due and still accruing, which are insured by U.S. government agencies under the FFELP, of $630 million and $737 million, respectively. These amounts were excluded based upon the government guarantee. | |||||||||||||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Auto | Business banking | Total other consumer(d) | |||||||||||||||||||||||||||||||||||||||||
June 30, | December 31, | June 30, | December 31, | June 30, | December 31, | |||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||||||||||||||||
With an allowance | $ | 51 | $ | 96 | $ | 414 | $ | 475 | $ | 465 | $ | 571 | ||||||||||||||||||||||||||||||||
Without an allowance(a) | 38 | 47 | — | — | 38 | 47 | ||||||||||||||||||||||||||||||||||||||
Total impaired loans(b) | $ | 89 | $ | 143 | $ | 414 | $ | 475 | $ | 503 | $ | 618 | ||||||||||||||||||||||||||||||||
Allowance for loan losses related to | $ | 8 | $ | 13 | $ | 79 | $ | 94 | $ | 87 | $ | 107 | ||||||||||||||||||||||||||||||||
impaired loans | ||||||||||||||||||||||||||||||||||||||||||||
Unpaid principal balance of impaired loans(c) | 169 | 235 | 480 | 553 | 649 | 788 | ||||||||||||||||||||||||||||||||||||||
Impaired loans on nonaccrual status | 63 | 113 | 277 | 328 | 340 | 441 | ||||||||||||||||||||||||||||||||||||||
(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) | Predominantly all other consumer impaired loans are in the U.S. | |||||||||||||||||||||||||||||||||||||||||||
(c) | Represents the contractual amount of principal owed at June 30, 2014, and December 31, 2013. 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. | |||||||||||||||||||||||||||||||||||||||||||
(d) | Excludes $63 million of impaired student loans with a related allowance for loan losses of $18 million, all of which were on nonaccrual status, at June 30, 2014. There were no impaired student and other loans at December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||
The following table presents average impaired loans for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Average impaired loans(a)(b) | |||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||
Auto | $ | 103 | $ | 129 | $ | 119 | $ | 137 | ||||||||||||||||||||||||||||||||||||
Business banking | 487 | 528 | 475 | 536 | ||||||||||||||||||||||||||||||||||||||||
Total other consumer | $ | 590 | $ | 657 | $ | 594 | $ | 673 | ||||||||||||||||||||||||||||||||||||
(a) | The related interest income on impaired loans, including those on a cash basis, was not material for the three and six months ended June 30, 2014 and 2013. | |||||||||||||||||||||||||||||||||||||||||||
(b) | Excludes impaired student loans for the three and six months ended June 30, 2014. | |||||||||||||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Auto | Business banking | Total other consumer(c) | |||||||||||||||||||||||||||||||||||||||||
June 30, | December 31, | June 30, | December 31, | June 30, | December 31, | |||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||
Loans modified in TDRs(a)(b) | $ | 89 | $ | 107 | $ | 234 | $ | 271 | $ | 323 | $ | 378 | ||||||||||||||||||||||||||||||||
TDRs on nonaccrual status | 63 | 77 | 97 | 124 | 160 | 201 | ||||||||||||||||||||||||||||||||||||||
(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 June 30, 2014, and December 31, 2013, were immaterial. | |||||||||||||||||||||||||||||||||||||||||||
(c) | Excludes impaired student loans modified in TDRs at June 30, 2014. | |||||||||||||||||||||||||||||||||||||||||||
TDR activity rollforward | ||||||||||||||||||||||||||||||||||||||||||||
The following tables reconcile the beginning and ending balances of other consumer loans modified in TDRs for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Auto | Business banking | Total other consumer(a) | |||||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||
Beginning balance of TDRs | $ | 97 | $ | 140 | $ | 249 | $ | 341 | $ | 346 | $ | 481 | ||||||||||||||||||||||||||||||||
New TDRs | 17 | 22 | 16 | 18 | 33 | 40 | ||||||||||||||||||||||||||||||||||||||
Charge-offs post-modification | — | (2 | ) | (2 | ) | — | (2 | ) | (2 | ) | ||||||||||||||||||||||||||||||||||
Foreclosures and other liquidations | (2 | ) | — | (1 | ) | — | (3 | ) | — | |||||||||||||||||||||||||||||||||||
Principal payments and other | (23 | ) | (36 | ) | (28 | ) | (35 | ) | (51 | ) | (71 | ) | ||||||||||||||||||||||||||||||||
Ending balance of TDRs | $ | 89 | $ | 124 | $ | 234 | $ | 324 | $ | 323 | $ | 448 | ||||||||||||||||||||||||||||||||
Six months ended June 30, | Auto | Business banking | Total other consumer(a) | |||||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||
Beginning balance of TDRs | $ | 107 | $ | 150 | $ | 271 | $ | 352 | $ | 378 | $ | 502 | ||||||||||||||||||||||||||||||||
New TDRs | 37 | 42 | 24 | 40 | 61 | 82 | ||||||||||||||||||||||||||||||||||||||
Charge-offs post-modification | — | (5 | ) | (2 | ) | (2 | ) | (2 | ) | (7 | ) | |||||||||||||||||||||||||||||||||
Foreclosures and other liquidations | (5 | ) | — | (1 | ) | — | (6 | ) | — | |||||||||||||||||||||||||||||||||||
Principal payments and other | (50 | ) | (63 | ) | (58 | ) | (66 | ) | (108 | ) | (129 | ) | ||||||||||||||||||||||||||||||||
Ending balance of TDRs | $ | 89 | $ | 124 | $ | 234 | $ | 324 | $ | 323 | $ | 448 | ||||||||||||||||||||||||||||||||
(a) | Excludes student loans modified in TDRs during the three and six months ended June 30, 2014. | |||||||||||||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||||||||||||||
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 $7 million and $11 million during the three months ended June 30, 2014 and 2013, respectively, and $14 million and $23 million during the six months ended June 30, 2014 and 2013, 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 $11 million and $15 million during the three months ended June 30, 2014 and 2013, respectively and $22 million and $28 million during the six months ended June 30, 2014 and 2013, respectively. 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. | ||||||||||||||||||||||||||||||||||||||||||||
In May 2014 the Firm began extending the deferment period for up to 24 months for certain student loans, which resulted in extending the maturity of the loans at their original contractual interest rates. These modified loans are considered TDRs and placed on nonaccrual status. | ||||||||||||||||||||||||||||||||||||||||||||
The following table provides information about the financial effects of the various concessions granted in modifications of other consumer loans, excluding student loans, for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||||||||||||||||||||||
Auto | Business banking | Auto | Business banking | |||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 12.02 | % | 13.46 | % | 7.11 | % | 7.58 | % | 13.1 | % | 13.19 | % | 7.35 | % | 7.94 | % | ||||||||||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – after TDR | 4.98 | 4.82 | 6.04 | 6.16 | 4.97 | 4.94 | 6.28 | 5.84 | ||||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | NM | NM | 3.1 | 1.6 | NM | NM | 2.6 | 1.5 | ||||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | NM | NM | 4.6 | 3.8 | NM | NM | 4.3 | 3.1 | ||||||||||||||||||||||||||||||||||||
Purchased credit-impaired loans | ||||||||||||||||||||||||||||||||||||||||||||
For a detailed discussion of PCI loans, including the related accounting policies, see Note 14 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||||||||||||||||||
Residential real estate – PCI loans | ||||||||||||||||||||||||||||||||||||||||||||
The table below sets forth information about the Firm’s consumer, excluding credit card, PCI loans. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | Home equity | Prime mortgage | Subprime mortgage | Option ARMs | Total PCI | |||||||||||||||||||||||||||||||||||||||
Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||
Carrying value(a) | $ | 18,070 | $ | 18,927 | $ | 11,302 | $ | 12,038 | $ | 3,947 | $ | 4,175 | $ | 16,799 | $ | 17,915 | $ | 50,118 | $ | 53,055 | ||||||||||||||||||||||||
Related allowance for loan losses(b) | 1,758 | 1,758 | 1,617 | 1,726 | 180 | 180 | 194 | 494 | 3,749 | 4,158 | ||||||||||||||||||||||||||||||||||
Loan delinquency (based on unpaid principal balance) | ||||||||||||||||||||||||||||||||||||||||||||
Current | $ | 17,317 | $ | 18,135 | $ | 9,563 | $ | 10,118 | $ | 3,828 | $ | 4,012 | $ | 14,725 | $ | 15,501 | $ | 45,433 | $ | 47,766 | ||||||||||||||||||||||||
30–149 days past due | 465 | 583 | 538 | 589 | 591 | 662 | 930 | 1,006 | 2,524 | 2,840 | ||||||||||||||||||||||||||||||||||
150 or more days past due | 1,067 | 1,112 | 986 | 1,169 | 683 | 797 | 2,183 | 2,716 | 4,919 | 5,794 | ||||||||||||||||||||||||||||||||||
Total loans | $ | 18,849 | $ | 19,830 | $ | 11,087 | $ | 11,876 | $ | 5,102 | $ | 5,471 | $ | 17,838 | $ | 19,223 | $ | 52,876 | $ | 56,400 | ||||||||||||||||||||||||
% of 30+ days past due to total loans | 8.13 | % | 8.55 | % | 13.75 | % | 14.8 | % | 24.97 | % | 26.67 | % | 17.45 | % | 19.36 | % | 14.08 | % | 15.31 | % | ||||||||||||||||||||||||
Current estimated LTV ratios (based on unpaid principal balance)(c)(d) | ||||||||||||||||||||||||||||||||||||||||||||
Greater than 125% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | $ | 772 | $ | 1,168 | $ | 118 | $ | 240 | $ | 74 | $ | 115 | $ | 156 | $ | 301 | $ | 1,120 | $ | 1,824 | ||||||||||||||||||||||||
Less than 660 | 411 | 662 | 158 | 290 | 274 | 459 | 309 | 575 | 1,152 | 1,986 | ||||||||||||||||||||||||||||||||||
101% to 125% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 2,568 | 3,248 | 715 | 1,017 | 249 | 316 | 784 | 1,164 | 4,316 | 5,745 | ||||||||||||||||||||||||||||||||||
Less than 660 | 1,189 | 1,541 | 552 | 884 | 688 | 919 | 1,052 | 1,563 | 3,481 | 4,907 | ||||||||||||||||||||||||||||||||||
80% to 100% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 4,365 | 4,473 | 2,400 | 2,787 | 552 | 544 | 2,741 | 3,311 | 10,058 | 11,115 | ||||||||||||||||||||||||||||||||||
Less than 660 | 1,758 | 1,782 | 1,537 | 1,699 | 1,131 | 1,197 | 2,339 | 2,769 | 6,765 | 7,447 | ||||||||||||||||||||||||||||||||||
Lower than 80% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 5,739 | 5,077 | 3,425 | 2,897 | 641 | 521 | 6,410 | 5,671 | 16,215 | 14,166 | ||||||||||||||||||||||||||||||||||
Less than 660 | 2,047 | 1,879 | 2,182 | 2,062 | 1,493 | 1,400 | 4,047 | 3,869 | 9,769 | 9,210 | ||||||||||||||||||||||||||||||||||
Total unpaid principal balance | $ | 18,849 | $ | 19,830 | $ | 11,087 | $ | 11,876 | $ | 5,102 | $ | 5,471 | $ | 17,838 | $ | 19,223 | $ | 52,876 | $ | 56,400 | ||||||||||||||||||||||||
Geographic region (based on unpaid principal balance) | ||||||||||||||||||||||||||||||||||||||||||||
California | $ | 11,341 | $ | 11,937 | $ | 6,393 | $ | 6,845 | $ | 1,218 | $ | 1,293 | $ | 9,814 | $ | 10,419 | $ | 28,766 | $ | 30,494 | ||||||||||||||||||||||||
New York | 922 | 962 | 748 | 807 | 514 | 563 | 1,048 | 1,196 | 3,232 | 3,528 | ||||||||||||||||||||||||||||||||||
Illinois | 429 | 451 | 324 | 353 | 258 | 283 | 445 | 481 | 1,456 | 1,568 | ||||||||||||||||||||||||||||||||||
Florida | 1,786 | 1,865 | 772 | 826 | 494 | 526 | 1,631 | 1,817 | 4,683 | 5,034 | ||||||||||||||||||||||||||||||||||
Texas | 302 | 327 | 100 | 106 | 305 | 328 | 91 | 100 | 798 | 861 | ||||||||||||||||||||||||||||||||||
New Jersey | 362 | 381 | 316 | 334 | 187 | 213 | 614 | 701 | 1,479 | 1,629 | ||||||||||||||||||||||||||||||||||
Arizona | 343 | 361 | 179 | 187 | 90 | 95 | 245 | 264 | 857 | 907 | ||||||||||||||||||||||||||||||||||
Washington | 1,020 | 1,072 | 244 | 266 | 103 | 112 | 428 | 463 | 1,795 | 1,913 | ||||||||||||||||||||||||||||||||||
Michigan | 58 | 62 | 177 | 189 | 139 | 145 | 193 | 206 | 567 | 602 | ||||||||||||||||||||||||||||||||||
Ohio | 21 | 23 | 50 | 55 | 79 | 84 | 72 | 75 | 222 | 237 | ||||||||||||||||||||||||||||||||||
All other | 2,265 | 2,389 | 1,784 | 1,908 | 1,715 | 1,829 | 3,257 | 3,501 | 9,021 | 9,627 | ||||||||||||||||||||||||||||||||||
Total unpaid principal balance | $ | 18,849 | $ | 19,830 | $ | 11,087 | $ | 11,876 | $ | 5,102 | $ | 5,471 | $ | 17,838 | $ | 19,223 | $ | 52,876 | $ | 56,400 | ||||||||||||||||||||||||
(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 June 30, 2014, and December 31, 2013. | ||||||||||||||||||||||||||||||||||||||||||||
Delinquencies | Total 30+ day delinquency rate | |||||||||||||||||||||||||||||||||||||||||||
30-Jun-14 | 30–89 days past due | 90–149 days past due | 150+ days past due | Total loans | ||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | ||||||||||||||||||||||||||||||||||||||||||||
HELOCs:(a) | ||||||||||||||||||||||||||||||||||||||||||||
Within the revolving period(b) | $ | 174 | $ | 60 | $ | 467 | $ | 10,802 | 6.49 | % | ||||||||||||||||||||||||||||||||||
Beyond the revolving period(c) | 60 | 20 | 120 | 3,146 | 6.36 | |||||||||||||||||||||||||||||||||||||||
HELOANs | 20 | 8 | 40 | 812 | 8.37 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 254 | $ | 88 | $ | 627 | $ | 14,760 | 6.57 | % | ||||||||||||||||||||||||||||||||||
Delinquencies | Total 30+ day delinquency rate | |||||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | 30–89 days past due | 90–149 days past due | 150+ days past due | Total loans | ||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | ||||||||||||||||||||||||||||||||||||||||||||
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 | % | ||||||||||||||||||||||||||||||||||
(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 three and six months ended June 30, 2014 and 2013, 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. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | Total PCI | |||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 15,782 | $ | 19,464 | $ | 16,167 | $ | 18,457 | ||||||||||||||||||||||||||||||||||||
Accretion into interest income | (495 | ) | (565 | ) | (1,009 | ) | (1,138 | ) | ||||||||||||||||||||||||||||||||||||
Changes in interest rates on variable-rate loans | (45 | ) | 49 | (66 | ) | (110 | ) | |||||||||||||||||||||||||||||||||||||
Other changes in expected cash flows(a) | 33 | (342 | ) | 183 | 1,397 | |||||||||||||||||||||||||||||||||||||||
Balance at June 30 | $ | 15,275 | $ | 18,606 | $ | 15,275 | $ | 18,606 | ||||||||||||||||||||||||||||||||||||
Accretable yield percentage | 4.24 | % | 4.38 | % | 4.28 | % | 4.36 | % | ||||||||||||||||||||||||||||||||||||
(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 three and six months ended June 30, 2014, and for the three months ended June 30, 2013, other changes in expected cash flows were driven by changes in prepayment assumptions. For the six months ended June 30, 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. | |||||||||||||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||||||||||||||
Credit card | ' | |||||||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||
Loans | ' | |||||||||||||||||||||||||||||||||||||||||||
Credit card loan portfolio | ||||||||||||||||||||||||||||||||||||||||||||
The table below sets forth information about the Firm’s credit card loans. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | June 30, | December 31, | ||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||
Loan delinquency | ||||||||||||||||||||||||||||||||||||||||||||
Current and less than 30 days | $ | 123,849 | $ | 125,335 | ||||||||||||||||||||||||||||||||||||||||
past due and still accruing | ||||||||||||||||||||||||||||||||||||||||||||
30–89 days past due and still accruing | 910 | 1,108 | ||||||||||||||||||||||||||||||||||||||||||
90 or more days past due and still accruing | 862 | 1,022 | ||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans | — | — | ||||||||||||||||||||||||||||||||||||||||||
Total retained credit card loans | $ | 125,621 | $ | 127,465 | ||||||||||||||||||||||||||||||||||||||||
Loan delinquency ratios | ||||||||||||||||||||||||||||||||||||||||||||
% of 30+ days past due to total retained loans | 1.41 | % | 1.67 | % | ||||||||||||||||||||||||||||||||||||||||
% of 90+ days past due to total retained loans | 0.69 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||
Credit card loans by geographic region | ||||||||||||||||||||||||||||||||||||||||||||
California | $ | 17,040 | $ | 17,194 | ||||||||||||||||||||||||||||||||||||||||
Texas | 10,464 | 10,400 | ||||||||||||||||||||||||||||||||||||||||||
New York | 10,425 | 10,497 | ||||||||||||||||||||||||||||||||||||||||||
Illinois | 7,313 | 7,412 | ||||||||||||||||||||||||||||||||||||||||||
Florida | 7,039 | 7,178 | ||||||||||||||||||||||||||||||||||||||||||
New Jersey | 5,516 | 5,554 | ||||||||||||||||||||||||||||||||||||||||||
Ohio | 4,736 | 4,881 | ||||||||||||||||||||||||||||||||||||||||||
Pennsylvania | 4,347 | 4,462 | ||||||||||||||||||||||||||||||||||||||||||
Michigan | 3,502 | 3,618 | ||||||||||||||||||||||||||||||||||||||||||
Virginia | 3,172 | 3,239 | ||||||||||||||||||||||||||||||||||||||||||
All other | 52,067 | 53,030 | ||||||||||||||||||||||||||||||||||||||||||
Total retained credit card loans | $ | 125,621 | $ | 127,465 | ||||||||||||||||||||||||||||||||||||||||
Percentage of portfolio based on carrying value with estimated refreshed FICO scores | ||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 86.2 | % | 85.1 | % | ||||||||||||||||||||||||||||||||||||||||
Less than 660 | 13.8 | 14.9 | ||||||||||||||||||||||||||||||||||||||||||
Credit card impaired loans and loan modifications | ||||||||||||||||||||||||||||||||||||||||||||
For a detailed discussion of impaired credit card loans, including credit card loan modifications, see Note 14 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | June 30, | December 31, | ||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||
Impaired credit card loans with an allowance(a)(b) | ||||||||||||||||||||||||||||||||||||||||||||
Credit card loans with modified payment terms(c) | $ | 2,173 | $ | 2,746 | ||||||||||||||||||||||||||||||||||||||||
Modified credit card loans that have reverted to pre-modification payment terms(d) | 294 | 369 | ||||||||||||||||||||||||||||||||||||||||||
Total impaired credit card loans(e) | $ | 2,467 | $ | 3,115 | ||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses related to impaired credit card loans | $ | 583 | $ | 971 | ||||||||||||||||||||||||||||||||||||||||
(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 June 30, 2014, and December 31, 2013, $179 million and $226 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 $115 million and $143 million at June 30, 2014, and December 31, 2013, 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. | |||||||||||||||||||||||||||||||||||||||||||
(e) | Predominantly all impaired credit card loans are in the U.S. | |||||||||||||||||||||||||||||||||||||||||||
The following table presents average balances of impaired credit card loans and interest income recognized on those loans. | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Six months | |||||||||||||||||||||||||||||||||||||||||||
ended June 30, | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||
Average impaired credit card loans | $ | 2,617 | $ | 4,070 | $ | 2,776 | $ | 4,294 | ||||||||||||||||||||||||||||||||||||
Interest income on impaired credit card loans | 32 | 52 | 68 | 110 | ||||||||||||||||||||||||||||||||||||||||
Loan modifications | ||||||||||||||||||||||||||||||||||||||||||||
The Firm may modify loans to credit card borrowers who are experiencing financial difficulty. Most of these loans have been modified under programs that involve placing the customer on a fixed payment plan with a reduced interest rate, generally for 60 months. All of these credit card loan modifications are considered to be TDRs. New enrollments in these loan modification programs for the three months ended June 30, 2014 and 2013, were $193 million and $288 million, respectively and for the six months ended June 30, 2014 and 2013, were $426 million and $627 million, respectively. For additional information about credit card loan modifications, see Note 14 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions, except weighted-average data) | Three months | Six months | ||||||||||||||||||||||||||||||||||||||||||
ended June 30, | ended June 30, | |||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans – before TDR | 15.05 | % | 15.38 | % | 15.04 | % | 15.44 | % | ||||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans – after TDR | 4.33 | 4.27 | 4.36 | 4.88 | ||||||||||||||||||||||||||||||||||||||||
Loans that redefaulted within one year of modification(a) | $ | 29 | $ | 41 | $ | 63 | $ | 85 | ||||||||||||||||||||||||||||||||||||
(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 29.17% and 30.72% for credit card loans modified as of June 30, 2014, and December 31, 2013, respectively. | ||||||||||||||||||||||||||||||||||||||||||||
Wholesale | ' | |||||||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [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. For further information on these risk ratings, see Note 14 and Note 15 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||||||||||||||||||
The table below provides information by class of receivable for the retained loans in the Wholesale portfolio segment. | ||||||||||||||||||||||||||||||||||||||||||||
Commercial | Real estate | Financial | Government agencies | Other(d) | Total | |||||||||||||||||||||||||||||||||||||||
and industrial | institutions | retained loans | ||||||||||||||||||||||||||||||||||||||||||
(in millions, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | ||||||||||||||||||||||||||||||||
except ratios) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Loans by risk ratings | ||||||||||||||||||||||||||||||||||||||||||||
Investment-grade | $ | 58,802 | $ | 57,690 | $ | 56,282 | $ | 52,195 | $ | 30,736 | $ | 26,712 | $ | 9,362 | $ | 9,979 | $ | 80,509 | $ | 79,494 | $ | 235,691 | $ | 226,070 | ||||||||||||||||||||
Noninvestment-grade: | ||||||||||||||||||||||||||||||||||||||||||||
Noncriticized | 46,668 | 43,477 | 15,215 | 14,381 | 8,048 | 6,674 | 280 | 440 | 9,776 | 10,992 | 79,987 | 75,964 | ||||||||||||||||||||||||||||||||
Criticized performing | 2,625 | 2,385 | 1,841 | 2,229 | 235 | 272 | 3 | 42 | 425 | 480 | 5,129 | 5,408 | ||||||||||||||||||||||||||||||||
Criticized nonaccrual | 256 | 294 | 288 | 346 | 21 | 25 | — | 1 | 162 | 155 | 727 | 821 | ||||||||||||||||||||||||||||||||
Total noninvestment- | 49,549 | 46,156 | 17,344 | 16,956 | 8,304 | 6,971 | 283 | 483 | 10,363 | 11,627 | 85,843 | 82,193 | ||||||||||||||||||||||||||||||||
grade | ||||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 108,351 | $ | 103,846 | $ | 73,626 | $ | 69,151 | $ | 39,040 | $ | 33,683 | $ | 9,645 | $ | 10,462 | $ | 90,872 | $ | 91,121 | $ | 321,534 | $ | 308,263 | ||||||||||||||||||||
% of total criticized to | 2.66 | % | 2.58 | % | 2.89 | % | 3.72 | % | 0.66 | % | 0.88 | % | 0.03 | % | 0.41 | % | 0.65 | % | 0.7 | % | 1.82 | % | 2.02 | % | ||||||||||||||||||||
total retained loans | ||||||||||||||||||||||||||||||||||||||||||||
% of nonaccrual loans | 0.24 | 0.28 | 0.39 | 0.5 | 0.05 | 0.07 | — | 0.01 | 0.18 | 0.17 | 0.23 | 0.27 | ||||||||||||||||||||||||||||||||
to total retained loans | ||||||||||||||||||||||||||||||||||||||||||||
Loans by geographic | ||||||||||||||||||||||||||||||||||||||||||||
distribution(a) | ||||||||||||||||||||||||||||||||||||||||||||
Total non-U.S. | $ | 35,397 | $ | 34,440 | $ | 2,765 | $ | 1,369 | $ | 25,531 | $ | 22,726 | $ | 1,421 | $ | 2,146 | $ | 44,589 | $ | 43,376 | $ | 109,703 | $ | 104,057 | ||||||||||||||||||||
Total U.S. | 72,954 | 69,406 | 70,861 | 67,782 | 13,509 | 10,957 | 8,224 | 8,316 | 46,283 | 47,745 | 211,831 | 204,206 | ||||||||||||||||||||||||||||||||
Total retained loans | $ | 108,351 | $ | 103,846 | $ | 73,626 | $ | 69,151 | $ | 39,040 | $ | 33,683 | $ | 9,645 | $ | 10,462 | $ | 90,872 | $ | 91,121 | $ | 321,534 | $ | 308,263 | ||||||||||||||||||||
Loan delinquency(b) | ||||||||||||||||||||||||||||||||||||||||||||
Current and less than | $ | 107,836 | $ | 103,357 | $ | 73,191 | $ | 68,627 | $ | 38,967 | $ | 33,426 | $ | 9,574 | $ | 10,421 | $ | 89,671 | $ | 89,717 | $ | 319,239 | $ | 305,548 | ||||||||||||||||||||
30 days past due and | ||||||||||||||||||||||||||||||||||||||||||||
still accruing | ||||||||||||||||||||||||||||||||||||||||||||
30–89 days past due | 233 | 181 | 125 | 164 | 50 | 226 | 18 | 40 | 1,032 | 1,233 | 1,458 | 1,844 | ||||||||||||||||||||||||||||||||
and still accruing | ||||||||||||||||||||||||||||||||||||||||||||
90 or more days | 26 | 14 | 22 | 14 | 2 | 6 | 53 | — | 7 | 16 | 110 | 50 | ||||||||||||||||||||||||||||||||
past due and | ||||||||||||||||||||||||||||||||||||||||||||
still accruing(c) | ||||||||||||||||||||||||||||||||||||||||||||
Criticized nonaccrual | 256 | 294 | 288 | 346 | 21 | 25 | — | 1 | 162 | 155 | 727 | 821 | ||||||||||||||||||||||||||||||||
Total retained loans | $ | 108,351 | $ | 103,846 | $ | 73,626 | $ | 69,151 | $ | 39,040 | $ | 33,683 | $ | 9,645 | $ | 10,462 | $ | 90,872 | $ | 91,121 | $ | 321,534 | $ | 308,263 | ||||||||||||||||||||
(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 Note 14 of JPMorgan Chase’s 2013 Annual Report. | |||||||||||||||||||||||||||||||||||||||||||
(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 of JPMorgan Chase’s 2013 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. For further information on real estate loans, see Note 14 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | Multifamily | Commercial lessors | Commercial construction and development | Other | Total real estate loans | |||||||||||||||||||||||||||||||||||||||
Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||
Real estate retained loans | $ | 46,711 | $ | 44,389 | $ | 16,833 | $ | 15,949 | $ | 3,944 | $ | 3,674 | $ | 6,138 | $ | 5,139 | $ | 73,626 | $ | 69,151 | ||||||||||||||||||||||||
Criticized exposure | 935 | 1,142 | 1,124 | 1,323 | 48 | 81 | 22 | 29 | 2,129 | 2,575 | ||||||||||||||||||||||||||||||||||
% of criticized exposure to | 2 | % | 2.57 | % | 6.68 | % | 8.3 | % | 1.22 | % | 2.2 | % | 0.36 | % | 0.56 | % | 2.89 | % | 3.72 | % | ||||||||||||||||||||||||
total real estate retained loans | ||||||||||||||||||||||||||||||||||||||||||||
Criticized nonaccrual | $ | 159 | $ | 191 | $ | 127 | $ | 143 | $ | — | $ | 3 | $ | 2 | $ | 9 | $ | 288 | $ | 346 | ||||||||||||||||||||||||
% of criticized nonaccrual to | 0.34 | % | 0.43 | % | 0.75 | % | 0.9 | % | — | % | 0.08 | % | 0.03 | % | 0.18 | % | 0.39 | % | 0.5 | % | ||||||||||||||||||||||||
total real estate retained loans | ||||||||||||||||||||||||||||||||||||||||||||
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 14. | ||||||||||||||||||||||||||||||||||||||||||||
The table below sets forth information about the Firm’s wholesale impaired loans. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Commercial | Real estate | Financial | Government | Other | Total | ||||||||||||||||||||||||||||||||||||||
and industrial | institutions | agencies | retained loans | |||||||||||||||||||||||||||||||||||||||||
Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||||||||||||||||
With an allowance | $ | 232 | $ | 236 | $ | 200 | $ | 258 | $ | 5 | $ | 17 | $ | — | $ | 1 | $ | 104 | $ | 85 | $ | 541 | $ | 597 | ||||||||||||||||||||
Without an allowance(a) | 32 | 58 | 89 | 109 | 8 | 8 | — | — | 62 | 73 | 191 | 248 | ||||||||||||||||||||||||||||||||
Total impaired loans | $ | 264 | $ | 294 | $ | 289 | $ | 367 | $ | 13 | $ | 25 | $ | — | $ | 1 | $ | 166 | $ | 158 | $ | 732 | (c) | $ | 845 | (c) | ||||||||||||||||||
Allowance for loan losses related to impaired loans | $ | 60 | $ | 75 | $ | 43 | $ | 63 | $ | 11 | $ | 16 | $ | — | $ | — | $ | 24 | $ | 27 | $ | 138 | $ | 181 | ||||||||||||||||||||
Unpaid principal balance of impaired | 325 | 448 | 366 | 454 | 12 | 24 | — | 1 | 251 | 241 | 954 | 1,168 | ||||||||||||||||||||||||||||||||
loans(b) | ||||||||||||||||||||||||||||||||||||||||||||
(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 June 30, 2014, and December 31, 2013. 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. | |||||||||||||||||||||||||||||||||||||||||||
(c) | Based upon the domicile of the borrower, predominantly all wholesale impaired loans are in the U.S. | |||||||||||||||||||||||||||||||||||||||||||
The following table presents the Firm’s average impaired loans for the periods indicated. | ||||||||||||||||||||||||||||||||||||||||||||
Three months | Six months | |||||||||||||||||||||||||||||||||||||||||||
ended June 30, | ended June 30, | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 249 | $ | 387 | $ | 270 | $ | 496 | ||||||||||||||||||||||||||||||||||||
Real estate | 306 | 518 | 330 | 526 | ||||||||||||||||||||||||||||||||||||||||
Financial institutions | 19 | 11 | 21 | 9 | ||||||||||||||||||||||||||||||||||||||||
Government agencies | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Other | 159 | 226 | 164 | 225 | ||||||||||||||||||||||||||||||||||||||||
Total(a) | $ | 733 | $ | 1,142 | $ | 785 | $ | 1,256 | ||||||||||||||||||||||||||||||||||||
(a) | The related interest income on accruing impaired loans and interest income recognized on a cash basis were not material for the three and six months ended June 30, 2014 and 2013. | |||||||||||||||||||||||||||||||||||||||||||
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. For further information, see Note 14 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Commercial and industrial | Real estate | Other (b) | Total | ||||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||
Beginning balance of TDRs | $ | 84 | $ | 254 | $ | 78 | $ | 124 | $ | 31 | $ | 43 | $ | 193 | $ | 421 | ||||||||||||||||||||||||||||
New TDRs | 25 | $ | 27 | — | 10 | 3 | 15 | 28 | 52 | |||||||||||||||||||||||||||||||||||
Increases to existing TDRs | 10 | 1 | — | — | — | — | 10 | 1 | ||||||||||||||||||||||||||||||||||||
Charge-offs post-modification | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Sales and other(a) | (9 | ) | (173 | ) | (4 | ) | (23 | ) | (12 | ) | (24 | ) | (25 | ) | (220 | ) | ||||||||||||||||||||||||||||
Ending balance of TDRs | $ | 110 | $ | 109 | $ | 74 | $ | 111 | $ | 22 | $ | 34 | $ | 206 | $ | 254 | ||||||||||||||||||||||||||||
Six months ended June 30, | Commercial and industrial | Real estate | Other (b) | Total | ||||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||
Beginning balance of TDRs | $ | 77 | $ | 575 | $ | 88 | $ | 99 | $ | 33 | $ | 22 | $ | 198 | $ | 696 | ||||||||||||||||||||||||||||
New TDRs | 48 | $ | 41 | 10 | 41 | 3 | 37 | 61 | 119 | |||||||||||||||||||||||||||||||||||
Increases to existing TDRs | 11 | 4 | — | — | — | — | 11 | 4 | ||||||||||||||||||||||||||||||||||||
Charge-offs post-modification | — | (1 | ) | — | (3 | ) | (1 | ) | — | (1 | ) | (4 | ) | |||||||||||||||||||||||||||||||
Sales and other(a) | (26 | ) | (510 | ) | (24 | ) | (26 | ) | (13 | ) | (25 | ) | (63 | ) | (561 | ) | ||||||||||||||||||||||||||||
Ending balance of TDRs | $ | 110 | $ | 109 | $ | 74 | $ | 111 | $ | 22 | $ | 34 | $ | 206 | $ | 254 | ||||||||||||||||||||||||||||
TDRs on nonaccrual status | $ | 110 | $ | 102 | $ | 67 | $ | 82 | $ | 19 | $ | 27 | $ | 196 | $ | 211 | ||||||||||||||||||||||||||||
Additional commitments to lend to borrowers whose loans have been modified in TDRs | 145 | 22 | — | — | — | 1 | 145 | 23 | ||||||||||||||||||||||||||||||||||||
(a) | Sales and other are largely sales and paydowns. | |||||||||||||||||||||||||||||||||||||||||||
(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 three months ended June 30, 2014 and 2013, the average term extension granted on wholesale loans with term or payment extensions was zero and 0.9 years, respectively. The weighted-average remaining term for all loans modified during these periods was 2.8 years and 1.4 years, respectively. There were no wholesale TDR loans that redefaulted within one year of the modification during the three months ended June 30, 2014. Wholesale TDR loans that redefaulted within one year of the modification during the three months ended June 30, 2013 was $1 million. | ||||||||||||||||||||||||||||||||||||||||||||
For the six months ended June 30, 2014 and 2013, the average term extension granted on wholesale loans with term or payment extensions was 1.0 years and 2.1 years, respectively. The weighted-average remaining term for all loans modified during these periods was 2.7 years and 1.6 years, respectively. There were no wholesale TDR loans that redefaulted within one year of the modification during the six months ended June 30, 2014. Wholesale TDR loans that redefaulted within one year of the modification during the six months ended June 30, 2013 was $1 million. 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 | 6 Months Ended | |||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||
Allowance for Credit Losses [Abstract] | ' | |||||||||||||||||||||||||||||
Allowance for credit losses | ' | |||||||||||||||||||||||||||||
Allowance for credit losses | ||||||||||||||||||||||||||||||
For detailed discussion of the allowance for credit losses and the related accounting policies, see Note 15 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||
Six months ended June 30, | Consumer, excluding credit card | Credit card | Wholesale | Total | Consumer, excluding credit card | Credit card | Wholesale | Total | ||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||
Allowance for loan losses | ||||||||||||||||||||||||||||||
Beginning balance at January 1, | $ | 8,456 | $ | 3,795 | $ | 4,013 | $ | 16,264 | 12,292 | $ | 5,501 | $ | 4,143 | $ | 21,936 | |||||||||||||||
Gross charge-offs | 1,084 | 1,982 | 77 | 3,143 | 1,458 | 2,414 | 116 | 3,988 | ||||||||||||||||||||||
Gross recoveries | (399 | ) | (209 | ) | (108 | ) | (716 | ) | (394 | ) | (318 | ) | (148 | ) | (860 | ) | ||||||||||||||
Net charge-offs/(recoveries) | 685 | 1,773 | (31 | ) | 2,427 | 1,064 | 2,096 | (32 | ) | 3,128 | ||||||||||||||||||||
Write-offs of PCI loans(a) | 109 | — | — | 109 | — | — | — | — | ||||||||||||||||||||||
Provision for loan losses | 81 | 1,573 | (55 | ) | 1,599 | (531 | ) | 1,046 | 64 | 579 | ||||||||||||||||||||
Other | — | (1 | ) | — | (1 | ) | (6 | ) | (6 | ) | 9 | (3 | ) | |||||||||||||||||
Ending balance at June 30, | $ | 7,743 | $ | 3,594 | $ | 3,989 | $ | 15,326 | $ | 10,691 | $ | 4,445 | $ | 4,248 | $ | 19,384 | ||||||||||||||
Allowance for loan losses by impairment methodology | ||||||||||||||||||||||||||||||
Asset-specific(b) | $ | 598 | $ | 583 | (c) | $ | 138 | $ | 1,319 | $ | 713 | $ | 1,227 | (c) | $ | 228 | $ | 2,168 | ||||||||||||
Formula-based | 3,396 | 3,011 | 3,851 | 10,258 | 4,267 | 3,218 | 4,020 | 11,505 | ||||||||||||||||||||||
PCI | 3,749 | — | — | 3,749 | 5,711 | — | — | 5,711 | ||||||||||||||||||||||
Total allowance for loan losses | $ | 7,743 | $ | 3,594 | $ | 3,989 | $ | 15,326 | $ | 10,691 | $ | 4,445 | $ | 4,248 | $ | 19,384 | ||||||||||||||
Loans by impairment methodology | ||||||||||||||||||||||||||||||
Asset-specific | $ | 13,191 | $ | 2,467 | $ | 732 | $ | 16,390 | $ | 14,251 | $ | 3,857 | $ | 1,032 | $ | 19,140 | ||||||||||||||
Formula-based | 224,905 | 123,154 | 320,797 | 668,856 | 216,401 | 120,431 | 307,164 | 643,996 | ||||||||||||||||||||||
PCI | 50,118 | — | 5 | 50,123 | 56,736 | — | 12 | 56,748 | ||||||||||||||||||||||
Total retained loans | $ | 288,214 | $ | 125,621 | $ | 321,534 | $ | 735,369 | $ | 287,388 | $ | 124,288 | $ | 308,208 | $ | 719,884 | ||||||||||||||
Impaired collateral-dependent loans | ||||||||||||||||||||||||||||||
Net charge-offs/(recoveries) | $ | 81 | $ | — | $ | (5 | ) | $ | 76 | $ | 132 | $ | — | $ | 10 | $ | 142 | |||||||||||||
Loans measured at fair value of collateral less cost to sell | 3,250 | — | 321 | 3,571 | 3,152 | — | 394 | 3,546 | ||||||||||||||||||||||
Allowance for lending-related commitments | ||||||||||||||||||||||||||||||
Beginning balance at January 1, | $ | 8 | $ | — | $ | 697 | $ | 705 | $ | 7 | $ | — | $ | 661 | $ | 668 | ||||||||||||||
Provision for lending-related commitments | 1 | — | (58 | ) | (57 | ) | 1 | — | 84 | 85 | ||||||||||||||||||||
Other | — | — | — | — | — | — | — | — | ||||||||||||||||||||||
Ending balance at June 30, | $ | 9 | $ | — | $ | 639 | $ | 648 | $ | 8 | $ | — | $ | 745 | $ | 753 | ||||||||||||||
Allowance for lending-related commitments by impairment methodology | ||||||||||||||||||||||||||||||
Asset-specific | $ | — | $ | — | $ | 43 | $ | 43 | $ | — | $ | — | $ | 79 | $ | 79 | ||||||||||||||
Formula-based | 9 | — | 596 | 605 | 8 | — | 666 | 674 | ||||||||||||||||||||||
Total allowance for lending-related commitments | $ | 9 | $ | — | $ | 639 | $ | 648 | $ | 8 | $ | — | $ | 745 | $ | 753 | ||||||||||||||
Lending-related commitments by impairment methodology | ||||||||||||||||||||||||||||||
Asset-specific | $ | — | $ | — | $ | 122 | $ | 122 | $ | — | $ | — | $ | 283 | $ | 283 | ||||||||||||||
Formula-based | 56,410 | 533,688 | 451,153 | 1,041,251 | 62,303 | 532,359 | 445,189 | 1,039,851 | ||||||||||||||||||||||
Total lending-related commitments | $ | 56,410 | $ | 533,688 | $ | 451,275 | $ | 1,041,373 | $ | 62,303 | $ | 532,359 | $ | 445,472 | $ | 1,040,134 | ||||||||||||||
(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. |
Variable_Interest_Entities
Variable Interest Entities | 6 Months Ended | |||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||
Variable Interest Entities [Abstract] | ' | |||||||||||||||||||||||||||
Variable interest entities | ' | |||||||||||||||||||||||||||
Variable interest entities | ||||||||||||||||||||||||||||
For a further description of JPMorgan Chase’s accounting policies regarding consolidation of variable interest entities (“VIEs”), see Note 1 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||
The following table summarizes the most significant types of Firm-sponsored VIEs by business segment. | ||||||||||||||||||||||||||||
Line-of-Business | Transaction Type | Activity | Form 10-Q page reference | |||||||||||||||||||||||||
CCB | Credit card securitization trusts | Securitization of both originated and purchased credit card receivables | 154 | |||||||||||||||||||||||||
Mortgage securitization trusts | Securitization of both originated and purchased residential mortgages | 154-156 | ||||||||||||||||||||||||||
Other securitization trusts | Securitization of originated student loans | 154-156 | ||||||||||||||||||||||||||
CIB | Mortgage and other securitization trusts | Securitization of both originated and purchased residential and commercial mortgages, automobile and student loans | 154-156 | |||||||||||||||||||||||||
Multi-seller conduits | Assist clients in accessing the financial markets in a cost-efficient manner and structures transactions to meet investor needs | 156 | ||||||||||||||||||||||||||
Investor intermediation activities: | ||||||||||||||||||||||||||||
Municipal bond vehicles | 156-157 | |||||||||||||||||||||||||||
Credit-related note and asset swap vehicles | 157 | |||||||||||||||||||||||||||
The Firm also invests in and provides financing and other services to VIEs sponsored by third parties, as described on page 157 of this Note. | ||||||||||||||||||||||||||||
Significant Firm-sponsored variable interest entities | ||||||||||||||||||||||||||||
Credit card securitizations | ||||||||||||||||||||||||||||
For a more detailed discussion of JPMorgan Chase’s involvement with credit card securitizations, see Note 16 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||
As a result of the Firm’s continuing involvement, the Firm is considered to be the primary beneficiary of its Firm-sponsored credit card securitization trusts. This includes the Firm’s primary card securitization trust, Chase Issuance Trust. See the table on page 158 of this Note for further information on consolidated VIE assets and liabilities. | ||||||||||||||||||||||||||||
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 CCB and CIB 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 interest in the securitization trusts. | ||||||||||||||||||||||||||||
For a detailed discussion of the Firm’s involvement with Firm-sponsored mortgage and other securitization trusts, as well as the accounting treatment relating to such trusts, see Note 16 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||
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 159 of this Note for further information regarding the Firm’s cash flows with and interests retained in nonconsolidated VIEs, and Loans and excess mortgage servicing rights sold to the GSEs, loans in securitization transactions pursuant to Ginnie Mae guidelines, and other third-party-sponsored securitization entities on pages 159–160 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(c)(d)(e) | |||||||||||||||||||||||||||
June 30, 2014(a) (in billions) | Total assets held by securitization VIEs | Assets | Assets held in nonconsolidated securitization VIEs with continuing involvement | Trading assets | AFS securities | Total interests held by JPMorgan Chase | ||||||||||||||||||||||
held in consolidated securitization VIEs | ||||||||||||||||||||||||||||
Securitization-related | ||||||||||||||||||||||||||||
Residential mortgage: | ||||||||||||||||||||||||||||
Prime/Alt-A and Option ARMs | $ | 101.7 | $ | 2.4 | $ | 85.2 | $ | 0.4 | $ | 0.3 | $ | 0.7 | ||||||||||||||||
Subprime | 29.8 | 1.9 | 26 | 0.1 | — | 0.1 | ||||||||||||||||||||||
Commercial and other(b) | 126.9 | 0.2 | 94.2 | 0.5 | 3.3 | 3.8 | ||||||||||||||||||||||
Total | $ | 258.4 | $ | 4.5 | $ | 205.4 | $ | 1 | $ | 3.6 | $ | 4.6 | ||||||||||||||||
Principal amount outstanding | JPMorgan Chase interest in securitized assets in nonconsolidated VIEs(c)(d)(e) | |||||||||||||||||||||||||||
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 | ||||||||||||||||
(a) | Excludes U.S. government agency securitizations. See Loans and excess mortgage servicing rights sold to the GSEs, loans in securitization transactions pursuant to Ginnie Mae guidelines, and other third-party-sponsored securitization entities on pages 159–160 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 table above excludes the following: retained servicing (see Note 16 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 5 for further information on derivatives); senior and subordinated securities of $105 million and $55 million, respectively, at June 30, 2014, and $151 million and $30 million, respectively, at December 31, 2013, which the Firm purchased in connection with CIB’s secondary market-making activities. | |||||||||||||||||||||||||||
(d) | Includes interests held in re-securitization transactions. | |||||||||||||||||||||||||||
(e) | As of June 30, 2014, and December 31, 2013, 69% 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 $437 million and $551 million of investment-grade and $238 million and $260 million of noninvestment-grade retained interests at June 30, 2014, and December 31, 2013, respectively. The retained interests in commercial and other securitizations trusts consisted of $3.6 billion and $3.9 billion of investment-grade and $124 million and $80 million of noninvestment-grade retained interests at June 30, 2014, and December 31, 2013, respectively. | |||||||||||||||||||||||||||
Residential mortgages | ||||||||||||||||||||||||||||
For a more detailed description of the Firm’s involvement with residential mortgage securitizations, see Note 16 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||
At June 30, 2014, and December 31, 2013, 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 158 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. For a more detailed description of the Firm’s involvement with commercial mortgage and other consumer securitizations, see Note 16 of JPMorgan Chase’s 2013 Annual Report. See the table on the previous page of this Note for more information on interests held in nonconsolidated securitizations. | ||||||||||||||||||||||||||||
Re-securitizations | ||||||||||||||||||||||||||||
For a more detailed description of JPMorgan Chase’s | ||||||||||||||||||||||||||||
participation in re-securitization transactions, see Note 16 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||
During the three months ended June 30, 2014 and 2013, The Firm transferred $8.0 billion and $2.9 billion, respectively, of securities to agency VIEs, and $264 million and zero, respectively, of securities to private-label VIEs. | ||||||||||||||||||||||||||||
During the six months ended June 30, 2014 and 2013, The Firm transferred $13.3 billion and $7.1 billion, respectively, of securities to agency VIEs, and $433 million and zero, respectively, of securities to private-label VIEs. | ||||||||||||||||||||||||||||
As of June 30, 2014, and December 31, 2013, the Firm did not consolidate any agency re-securitizations. As of June 30, 2014, and December 31, 2013, the Firm consolidated $83 million and $86 million, respectively, of assets, and $22 million and $23 million, respectively, of liabilities of private-label re-securitizations. See the table on page 158 of this Note for more information on consolidated re-securitization transactions. | ||||||||||||||||||||||||||||
As of June 30, 2014, and December 31, 2013, 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 $3.0 billion and $2.8 billion, respectively. At June 30, 2014, and December 31, 2013, the Firm held approximately $2.3 billion and $1.3 billion, respectively, of interests in nonconsolidated agency re-securitization entities, and $37 million and $6 million, respectively, of senior and subordinated interests in nonconsolidated private-label re-securitization entities. See the table on page 155 of this Note for further information on interests held in nonconsolidated securitizations. | ||||||||||||||||||||||||||||
Multi-seller conduits | ||||||||||||||||||||||||||||
For a more detailed description of JPMorgan Chase’s principal involvement with Firm-administered multi-seller conduits, see Note 16 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||
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 $7.4 billion and $4.1 billion of the commercial paper issued by the Firm-administered multi-seller conduits at June 30, 2014, and December 31, 2013, which was eliminated in consolidation. The Firm’s investments were not driven by market liquidity 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 to the multi-seller conduits have been eliminated in consolidation. Unfunded lending-related commitments made to clients of the Firm-administered multi-seller conduits were $9.2 billion and $9.1 billion at June 30, 2014, and December 31, 2013, respectively, and are reported as off-balance sheet lending-related commitments. For more information on off-balance sheet lending-related commitments, see Note 21. | ||||||||||||||||||||||||||||
VIEs associated with investor intermediation activities | ||||||||||||||||||||||||||||
Municipal bond vehicles | ||||||||||||||||||||||||||||
For a more detailed description of JPMorgan Chase’s principal involvement with municipal bond vehicles, see Note 16 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||
The Firm’s exposure to nonconsolidated municipal bond VIEs at June 30, 2014, and December 31, 2013, including the ratings profile of the VIEs’ assets, was as follows. | ||||||||||||||||||||||||||||
(in billions) | Fair value of assets held by VIEs | Liquidity facilities | Excess/(deficit)(a) | Maximum exposure | ||||||||||||||||||||||||
Nonconsolidated municipal bond vehicles | ||||||||||||||||||||||||||||
30-Jun-14 | $ | 11.5 | $ | 6.4 | $ | 5.1 | $ | 6.4 | ||||||||||||||||||||
31-Dec-13 | 11.8 | 6.9 | 4.9 | 6.9 | ||||||||||||||||||||||||
Ratings profile of VIE assets(b) | Fair value of assets held by VIEs | Wt. avg. expected life of assets (years) | ||||||||||||||||||||||||||
Investment-grade | Noninvestment- grade | |||||||||||||||||||||||||||
(in billions, except where otherwise noted) | AAA to AAA- | AA+ to AA- | A+ to A- | BBB+ to BBB- | BB+ and below | |||||||||||||||||||||||
30-Jun-14 | $ | 2.7 | $ | 8.6 | $ | 0.2 | $ | — | $ | — | $ | 11.5 | 5.1 | |||||||||||||||
31-Dec-13 | 2.7 | 8.9 | 0.2 | — | — | 11.8 | 7.2 | |||||||||||||||||||||
(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. | |||||||||||||||||||||||||||
Credit-related note and asset swap vehicles | ||||||||||||||||||||||||||||
For a more detailed description of JPMorgan Chase’s principal involvement with credit-related note and asset swap vehicles, see Note 16 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||
VIEs sponsored by third parties | ||||||||||||||||||||||||||||
The Firm enters into transactions with VIEs structured by other parties. These include, for example, acting as a derivative counterparty, liquidity provider, investor, underwriter, placement agent, trustee or custodian. These transactions are conducted at arm’s-length, and individual credit decisions are based on the analysis of the specific VIE, taking into consideration the quality of the underlying assets. Where the Firm does not have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, or a variable interest that could potentially be significant, the Firm records and reports these positions on its Consolidated Balance Sheets similarly to the way it would record and report positions in respect of any other third-party transaction. | ||||||||||||||||||||||||||||
Consolidated VIE assets and liabilities | ||||||||||||||||||||||||||||
The following table presents information on assets and liabilities related to VIEs consolidated by the Firm as of June 30, 2014, and December 31, 2013. | ||||||||||||||||||||||||||||
Assets | Liabilities | |||||||||||||||||||||||||||
June 30, 2014 (in billions)(a) | Trading assets | Loans | Other(d) | Total | Beneficial interests in | Other(g) | Total | |||||||||||||||||||||
assets(e) | VIE assets(f) | liabilities | ||||||||||||||||||||||||||
VIE program type | ||||||||||||||||||||||||||||
Firm-sponsored credit card trusts | $ | — | $ | 43.7 | $ | 0.7 | $ | 44.4 | $ | 28.4 | $ | — | $ | 28.4 | ||||||||||||||
Firm-administered multi-seller conduits | — | 17 | 0.2 | 17.2 | 9.6 | — | 9.6 | |||||||||||||||||||||
Municipal bond vehicles | 3 | — | — | 3 | 2.5 | — | 2.5 | |||||||||||||||||||||
Mortgage securitization entities(b) | 2.3 | 1.6 | — | 3.9 | 2.9 | 0.8 | 3.7 | |||||||||||||||||||||
Other(c) | 0.7 | 2.3 | 1.1 | 4.1 | 2.3 | 0.2 | 2.5 | |||||||||||||||||||||
Total | $ | 6 | $ | 64.6 | $ | 2 | $ | 72.6 | $ | 45.7 | $ | 1 | $ | 46.7 | ||||||||||||||
Assets | Liabilities | |||||||||||||||||||||||||||
December 31, 2013 (in billions)(a) | Trading assets | Loans | Other(d) | Total | Beneficial interests in | Other(g) | Total | |||||||||||||||||||||
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 | ||||||||||||||
(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 of student loan securitization entities as of June 30, 2014, and December 31, 2013. | |||||||||||||||||||||||||||
(d) | Includes assets classified as cash, 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 $33.6 billion and $31.8 billion at June 30, 2014, and December 31, 2013, respectively. The maturities of the long-term beneficial interests as of June 30, 2014, were as follows: $6.5 billion under one year, $19.1 billion between one and five years, and $8.0 billion over five years, all respectively. | |||||||||||||||||||||||||||
(g) | Includes liabilities classified as accounts payable and other liabilities in the Consolidated Balance Sheets. | |||||||||||||||||||||||||||
Loan Securitizations | ||||||||||||||||||||||||||||
The Firm securitizes a variety of loans, including residential mortgage, credit card, automobile, student and commercial (primarily related to real estate) loans. For a further | ||||||||||||||||||||||||||||
description of the Firm’s accounting policies regarding securitizations, see Note 16 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||
Cash flows from securitizations | ||||||||||||||||||||||||||||
The following table provides information related to the Firm’s securitization activities for the three months ended June 30, 2014 and 2013, 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. | ||||||||||||||||||||||||||||
Three months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
(in millions, except rates)(a) | Residential mortgage(d) | Commercial and other(e) | Residential mortgage(d) | Commercial and other(e) | Residential mortgage(d) | Commercial and other(e) | Residential mortgage(d) | Commercial and other(e) | ||||||||||||||||||||
Principal securitized | $ | 304 | $ | 2,612 | $ | 443 | $ | 3,078 | $ | 660 | $ | 4,639 | $ | 1,059 | $ | 5,284 | ||||||||||||
All cash flows during the period: | ||||||||||||||||||||||||||||
Proceeds from new securitizations(b) | $ | 312 | $ | 2,664 | $ | 446 | $ | 3,149 | $ | 663 | $ | 4,708 | $ | 1,080 | $ | 5,426 | ||||||||||||
Servicing fees collected | 137 | 1 | 158 | 2 | 276 | 2 | 285 | 3 | ||||||||||||||||||||
Purchases of previously transferred financial assets (or the underlying collateral)(c) | 64 | — | 19 | — | 67 | — | 271 | — | ||||||||||||||||||||
Cash flows received on interests | 41 | 397 | 30 | 78 | 85 | 459 | 55 | 142 | ||||||||||||||||||||
(a) | Excludes re-securitization transactions. | |||||||||||||||||||||||||||
(b) | For the three and six months ended June 30, 2014, $312 million and $642 million of proceeds from residential mortgage securitizations were received as securities classified in level 2 and zero and $21 million of proceeds classified as level 3 of the fair value hierarchy, respectively. For the three and six months ended June 30, 2014, $2.3 billion and $4.3 billion, respectively, of proceeds from commercial mortgage securitizations were received as securities classified in level 2 and $130 million of proceeds classified as level 3 of the fair value hierarchy, and $280 million of proceeds from commercial mortgage securitization were received as cash. For the three and six months ended June 30, 2013, $446 million and $1.1 billion, respectively, of proceeds from residential mortgage securitizations were received as securities classified in level 2 of the fair value hierarchy. For the three and six months ended June 30, 2013, $3.1 billion and $5.2 billion, respectively, of proceeds from commercial mortgage securitizations were received as securities classified in level 2 of the fair value hierarchy, and zero and $207 million, respectively, of proceeds from commercial mortgage securitizations were received as cash. All loans transferred into securitization vehicles during the three and six months ended June 30, 2014 and 2013, were classified as trading assets; changes in fair value were recorded in principal transactions revenue, and there were no significant gains or losses associated with the securitization activity. | |||||||||||||||||||||||||||
(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 certain loan securitization transactions entered into with Ginnie Mae, Fannie Mae and Freddie Mac. | |||||||||||||||||||||||||||
(e) | Includes commercial and student loan securitizations. | |||||||||||||||||||||||||||
Loans and excess mortgage servicing rights sold to the GSEs, loans in securitization transactions pursuant to Ginnie Mae guidelines, 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 Fannie Mae and Freddie Mac (the “GSEs”). These loans and excess mortgage servicing rights are sold primarily for the purpose of securitization by the GSEs, who provide certain guarantee provisions (e.g., credit enhancement of the loans). The Firm also sells loans into securitization transactions pursuant to Ginnie Mae guidelines; these loans are typically insured or guaranteed by another U.S. government agency. The Firm does not consolidate the securitization vehicles underlying any of the transactions described above 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 of JPMorgan Chase’s 2013 Annual Report for additional information about the Firm’s loan sales- and securitization-related indemnifications. See Note 16 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 the GSEs, loans in securitization transactions pursuant to Ginnie Mae guidelines, and other third-party-sponsored securitization entities. | ||||||||||||||||||||||||||||
Three months | Six months | |||||||||||||||||||||||||||
ended June 30, | ended June 30, | |||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||
Carrying value of loans sold(a) | $ | 12,603 | $ | 48,045 | $ | 26,523 | $ | 102,925 | ||||||||||||||||||||
Proceeds received from loan sales as cash | 50 | 295 | 89 | 461 | ||||||||||||||||||||||||
Proceeds from loans sales as securities(b) | 12,461 | 47,223 | 26,196 | 101,392 | ||||||||||||||||||||||||
Total proceeds received from loan sales(c) | $ | 12,511 | $ | 47,518 | $ | 26,285 | $ | 101,853 | ||||||||||||||||||||
Gains on loan sales(d) | $ | 82 | $ | 112 | $ | 119 | $ | 250 | ||||||||||||||||||||
(a) | Predominantly to the GSEs and in securitization transactions pursuant to Ginnie Mae guidelines. | |||||||||||||||||||||||||||
(b) | Predominantly includes securities from the GSEs and Ginnie Mae that are generally sold shortly after receipt. | |||||||||||||||||||||||||||
(c) | Excludes the value of MSRs retained upon the sale of loans. Gains on loans 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. | |||||||||||||||||||||||||||
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 21, 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 may elect 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 June 30, 2014, and | ||||||||||||||||||||||||||||
December 31, 2013, the Firm had recorded on its Consolidated Balance Sheets $14.3 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 $2.1 billion and $2.0 billion as of June 30, 2014, and December 31, 2013, 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 13 of this Form 10-Q and Note 14 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||
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 June 30, 2014, and December 31, 2013, respectively; and liquidation losses for the three months ended June 30, 2014 and 2013, respectively. | ||||||||||||||||||||||||||||
Liquidation losses | ||||||||||||||||||||||||||||
Securitized assets | 90 days past due | Three months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||||
(in millions) | Jun 30, | Dec 31, | Jun 30, | Dec 31, | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Securitized loans(a) | ||||||||||||||||||||||||||||
Residential mortgage: | ||||||||||||||||||||||||||||
Prime / Alt-A & Option ARMs | $ | 85,193 | $ | 90,381 | $ | 13,158 | $ | 14,882 | $ | 598 | $ | 1,310 | $ | 1,257 | $ | 2,959 | ||||||||||||
Subprime | 25,998 | 28,008 | 6,762 | 7,726 | 464 | 756 | 1,203 | 1,539 | ||||||||||||||||||||
Commercial and other | 94,192 | 98,018 | 1,198 | 2,350 | 408 | 184 | 642 | 330 | ||||||||||||||||||||
Total loans securitized(b) | $ | 205,383 | $ | 216,407 | $ | 21,118 | $ | 24,958 | $ | 1,470 | $ | 2,250 | $ | 3,102 | $ | 4,828 | ||||||||||||
(a) | Total assets held in securitization-related SPEs were $258.4 billion and $271.7 billion, respectively, at June 30, 2014, and December 31, 2013. The $205.4 billion and $216.4 billion, respectively, of loans securitized at June 30, 2014, and December 31, 2013, excluded: $48.5 billion and $50.8 billion, respectively, of securitized loans in which the Firm has no continuing involvement, and $4.5 billion of loan securitizations consolidated on the Firm’s Consolidated Balance Sheets at June 30, 2014, and December 31, 2013. | |||||||||||||||||||||||||||
(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 | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||
Goodwill and other intangible assets | ' | ||||||||||||||||||||
Goodwill and other intangible assets | |||||||||||||||||||||
For a discussion of the accounting policies related to goodwill and other intangible assets, see Note 17 of JPMorgan Chase’s 2013 Annual Report. | |||||||||||||||||||||
Goodwill and other intangible assets consist of the following. | |||||||||||||||||||||
(in millions) | June 30, 2014 | December 31, 2013 | |||||||||||||||||||
Goodwill | $ | 48,110 | $ | 48,081 | |||||||||||||||||
Mortgage servicing rights | 8,347 | 9,614 | |||||||||||||||||||
Other intangible assets: | |||||||||||||||||||||
Purchased credit card relationships | $ | 41 | $ | 131 | |||||||||||||||||
Other credit card-related intangibles | 146 | 173 | |||||||||||||||||||
Core deposit intangibles | 74 | 159 | |||||||||||||||||||
Other intangibles | 1,078 | 1,155 | |||||||||||||||||||
Total other intangible assets | $ | 1,339 | $ | 1,618 | |||||||||||||||||
Goodwill | |||||||||||||||||||||
The following table presents goodwill attributed to the business segments. | |||||||||||||||||||||
(in millions) | June 30, 2014 | 31-Dec-13 | |||||||||||||||||||
Consumer & Community Banking | $ | 30,999 | $ | 30,985 | |||||||||||||||||
Corporate & Investment Bank | 6,893 | 6,888 | |||||||||||||||||||
Commercial Banking | 2,862 | 2,862 | |||||||||||||||||||
Asset Management | 6,979 | 6,969 | |||||||||||||||||||
Corporate/Private Equity | 377 | 377 | |||||||||||||||||||
Total goodwill | $ | 48,110 | $ | 48,081 | |||||||||||||||||
The following table presents changes in the carrying amount of goodwill. | |||||||||||||||||||||
Three months | Six months | ||||||||||||||||||||
ended June 30, | ended June 30, | ||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Balance at beginning of period(a) | $ | 48,065 | $ | 48,067 | $ | 48,081 | $ | 48,175 | |||||||||||||
Changes during the period from: | |||||||||||||||||||||
Business combinations | 9 | 11 | 18 | 36 | |||||||||||||||||
Dispositions | — | (5 | ) | — | (5 | ) | |||||||||||||||
Other(b) | 36 | (16 | ) | 11 | (149 | ) | |||||||||||||||
Balance at June 30,(a) | $ | 48,110 | $ | 48,057 | $ | 48,110 | $ | 48,057 | |||||||||||||
(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. | ||||||||||||||||||||
Goodwill impairment testing | |||||||||||||||||||||
For further description of the Firm’s goodwill impairment testing process, including the primary method used to estimate the fair value of the reporting units, and the assumptions used in the goodwill impairment test, see Impairment testing on pages 299–300 of JPMorgan Chase’s 2013 Annual Report. | |||||||||||||||||||||
Goodwill was not impaired at June 30, 2014, or December 31, 2013, nor was any goodwill written off due to impairment during the three and six months ended June 30, 2014 and 2013. | |||||||||||||||||||||
However, the Firm expects that the goodwill associated with its Private Equity business in Corporate will decline or could become impaired in future periods. | |||||||||||||||||||||
In addition, the Firm’s Mortgage Banking business in CCB remains at an elevated risk of goodwill impairment due to its exposure to U.S. economic conditions, such as increases in primary mortgage interest rates, lower mortgage origination volume, or decreases in home prices, and the effects of regulatory and legislative changes, including higher costs to resolve foreclosure-related matters. Deterioration in the assumptions used in the goodwill impairment test could cause the estimated fair values of these reporting units and their associated goodwill to decline in the future, 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. For a further description of the MSR asset, interest rate risk management, and the valuation of MSRs, see Note 17 of JPMorgan Chase’s 2013 Annual Report and Note 3 of this Form 10-Q. | |||||||||||||||||||||
The following table summarizes MSR activity for the three and six months ended June 30, 2014 and 2013. | |||||||||||||||||||||
As of or for the three months | As of or for the six months | ||||||||||||||||||||
ended June 30, | ended June 30, | ||||||||||||||||||||
(in millions, except where otherwise noted) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Fair value at beginning of period | $ | 8,552 | $ | 7,949 | $ | 9,614 | $ | 7,614 | |||||||||||||
MSR activity: | |||||||||||||||||||||
Originations of MSRs | 178 | 652 | 370 | 1,342 | |||||||||||||||||
Purchase of MSRs | 3 | 3 | 6 | (3 | ) | ||||||||||||||||
Disposition of MSRs | 2 | (19 | ) | (186 | ) | (f) | (418 | ) | (f) | ||||||||||||
Net additions | 183 | 636 | 190 | 921 | |||||||||||||||||
Changes due to collection/realization of expected cash flows(a) | (239 | ) | (288 | ) | (486 | ) | (547 | ) | |||||||||||||
Changes in valuation due to inputs and assumptions: | |||||||||||||||||||||
Changes due to market interest rates and other(b) | (369 | ) | 1,074 | (731 | ) | 1,620 | |||||||||||||||
Changes in valuation due to other inputs and assumptions: | |||||||||||||||||||||
Projected cash flows (e.g., cost to service) | — | — | (11 | ) | 290 | (h) | |||||||||||||||
Discount rates | (10 | ) | — | (459 | ) | (g) | (78 | ) | |||||||||||||
Prepayment model changes and other(c) | 230 | (36 | ) | 230 | (485 | ) | (i) | ||||||||||||||
Total changes in valuation due to other inputs and assumptions | 220 | (36 | ) | (240 | ) | (273 | ) | ||||||||||||||
Total changes in valuation due to inputs and assumptions(a) | (149 | ) | 1,038 | (971 | ) | 1,347 | |||||||||||||||
Fair value at June 30,(d) | $ | 8,347 | $ | 9,335 | $ | 8,347 | $ | 9,335 | |||||||||||||
Change in unrealized gains/(losses) included in income related to MSRs | $ | (149 | ) | $ | 1,038 | $ | (971 | ) | $ | 1,347 | |||||||||||
held at June 30, | |||||||||||||||||||||
Contractual service fees, late fees and other ancillary fees included in income | $ | 731 | $ | 835 | $ | 1,488 | $ | 1,704 | |||||||||||||
Third-party mortgage loans serviced at June 30, (in billions) | $ | 791 | $ | 839 | $ | 791 | $ | 839 | |||||||||||||
Net servicer advances at June 30, (in billions)(e) | $ | 8.8 | $ | 10.1 | $ | 8.8 | $ | 10.1 | |||||||||||||
(a) | Included changes related to commercial real estate of $(2) million for the three months ended June 30, 2014, and $(4) million and $(2) million for the six months ended June 30, 2014 and 2013, respectively. | ||||||||||||||||||||
(b) | 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. | ||||||||||||||||||||
(c) | Represents changes in prepayments other than those attributable to changes in market interest rates. | ||||||||||||||||||||
(d) | Included $14 million and $21 million related to commercial real estate at June 30, 2014 and 2013, respectively. | ||||||||||||||||||||
(e) | 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 recoverable servicer 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. Servicer advances are recognized net of an allowance for unrecoverable advances. | ||||||||||||||||||||
(f) | 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 for the three and six months ended June 30, 2014 and 2013. | ||||||||||||||||||||
(g) | For the six months ended June 30, 2014, the decrease was primarily related to higher capital allocated to the Mortgage Servicing business, which, in turn, resulted in an increase in the option adjusted spread (“OAS”). The resulting OAS assumption continues to be consistent with capital and return requirements that the Firm believes a market participant would consider, taking into account factors such as the current operating risk environment and regulatory and economic capital requirements. | ||||||||||||||||||||
(h) | For the six months ended June 30, 2013, the increase was driven by the inclusion in the MSR valuation model of servicing fees receivable on certain delinquent loans. | ||||||||||||||||||||
(i) | For the six months ended June 30, 2013, the decrease was driven by changes in the inputs and assumptions used to derive prepayment speeds, primarily increases in home prices. | ||||||||||||||||||||
The following table presents the components of mortgage fees and related income (including the impact of MSR risk management activities) for the three and six months ended June 30, 2014 and 2013. | |||||||||||||||||||||
Three months | Six months | ||||||||||||||||||||
ended June 30, | ended June 30, | ||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||
CCB mortgage fees and related income | |||||||||||||||||||||
Net production revenue: | |||||||||||||||||||||
Production revenue | $ | 186 | $ | 1,064 | $ | 347 | $ | 2,059 | |||||||||||||
Repurchase (losses)/benefits | 137 | 16 | 265 | (65 | ) | ||||||||||||||||
Net production revenue | 323 | 1,080 | 612 | 1,994 | |||||||||||||||||
Net mortgage servicing revenue | |||||||||||||||||||||
Operating revenue: | |||||||||||||||||||||
Loan servicing revenue | 867 | 945 | 1,737 | 1,881 | |||||||||||||||||
Changes in MSR asset fair value due to collection/realization of expected | (237 | ) | (285 | ) | (482 | ) | (543 | ) | |||||||||||||
cash flows | |||||||||||||||||||||
Total operating revenue | 630 | 660 | 1,255 | 1,338 | |||||||||||||||||
Risk management: | |||||||||||||||||||||
Changes in MSR asset fair value due to market interest rates and other(a) | (368 | ) | 1,072 | (730 | ) | 1,618 | |||||||||||||||
Other changes in MSR asset fair value due to other inputs and assumptions in | 220 | (36 | ) | (240 | ) | (273 | ) | ||||||||||||||
model(b) | |||||||||||||||||||||
Change in derivative fair value and other | 485 | (957 | ) | 907 | (1,408 | ) | |||||||||||||||
Total risk management | 337 | 79 | (63 | ) | (63 | ) | |||||||||||||||
Total CCB net mortgage servicing revenue | 967 | 739 | 1,192 | 1,275 | |||||||||||||||||
All other | 1 | 4 | 1 | 6 | |||||||||||||||||
Mortgage fees and related income | $ | 1,291 | $ | 1,823 | $ | 1,805 | $ | 3,275 | |||||||||||||
(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). | ||||||||||||||||||||
The table below outlines the key economic assumptions used to determine the fair value of the Firm’s MSRs at June 30, 2014, and December 31, 2013, and outlines the sensitivities of those fair values to immediate adverse changes in those assumptions, as defined below. | |||||||||||||||||||||
(in millions, except rates) | Jun 30, | Dec 31, | |||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Weighted-average prepayment speed assumption (“CPR”) | 8.56 | % | 8.07 | % | |||||||||||||||||
Impact on fair value of 10% adverse change | $ | (363 | ) | $ | (362 | ) | |||||||||||||||
Impact on fair value of 20% adverse change | (704 | ) | (705 | ) | |||||||||||||||||
Weighted-average option adjusted spread | 9.14 | % | 7.77 | % | |||||||||||||||||
Impact on fair value of 100 basis points adverse change | $ | (343 | ) | $ | (389 | ) | |||||||||||||||
Impact on fair value of 200 basis points adverse change | (660 | ) | (750 | ) | |||||||||||||||||
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 | |||||||||||||||||||||
The $279 million decrease in other intangible assets during the six months ended June 30, 2014, was due to amortization. | |||||||||||||||||||||
The components of credit card relationships, core deposits and other intangible assets were as follows. | |||||||||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||||||||
(in millions) | Gross amount(a) | Accumulated amortization(a) | Net carrying value | Gross | Accumulated amortization | Net carrying value | |||||||||||||||
amount | |||||||||||||||||||||
Purchased credit card relationships | $ | 3,540 | $ | 3,499 | $ | 41 | $ | 3,540 | $ | 3,409 | $ | 131 | |||||||||
Other credit card-related intangibles | 542 | 396 | 146 | 542 | 369 | 173 | |||||||||||||||
Core deposit intangibles | 4,131 | 4,057 | 74 | 4,133 | 3,974 | 159 | |||||||||||||||
Other intangibles(b) | 2,257 | 1,179 | 1,078 | 2,374 | 1,219 | 1,155 | |||||||||||||||
(a) | The decrease in the gross amount and accumulated amortization from December 31, 2013, 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. | |||||||||||||||||||||
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Purchased credit card relationships | $ | 45 | $ | 52 | $ | 90 | $ | 105 | |||||||||||||
Other credit card-related intangibles | 14 | 15 | 27 | 29 | |||||||||||||||||
Core deposit intangibles | 42 | 50 | 85 | 100 | |||||||||||||||||
Other intangibles | 31 | 35 | 61 | 70 | |||||||||||||||||
Total amortization expense | $ | 132 | $ | 152 | $ | 263 | $ | 304 | |||||||||||||
Future amortization expense | |||||||||||||||||||||
The following table presents estimated future amortization expense related to credit card relationships, core deposits and other intangible assets at June 30, 2014. | |||||||||||||||||||||
For the year (in millions) | Purchased credit card relationships | Other credit | Core deposit intangibles | Other | Total | ||||||||||||||||
card-related intangibles | intangibles | ||||||||||||||||||||
2014(a) | $ | 96 | $ | 51 | $ | 102 | $ | 111 | $ | 360 | |||||||||||
2015 | 12 | 39 | 26 | 93 | 170 | ||||||||||||||||
2016 | 9 | 34 | 14 | 75 | 132 | ||||||||||||||||
2017 | 5 | 29 | 7 | 59 | 100 | ||||||||||||||||
2018 | 3 | 20 | 5 | 53 | 81 | ||||||||||||||||
(a) | Includes $90 million, $27 million, $85 million and $61 million of amortization expense related to purchased credit card relationships, other credit card-related intangibles, core deposit intangibles and other intangibles, respectively, recognized during the six months ended June 30, 2014. |
Deposits
Deposits | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Deposits [Abstract] | ' | |||||||
Deposits | ' | |||||||
Deposits | ||||||||
For further discussion on deposits, see Note 19 of JPMorgan Chase’s 2013 Annual Report. | ||||||||
At June 30, 2014, and December 31, 2013, noninterest-bearing and interest-bearing deposits were as follows. | ||||||||
(in millions) | 30-Jun-14 | 31-Dec-13 | ||||||
U.S. offices | ||||||||
Noninterest-bearing | $ | 417,607 | $ | 389,863 | ||||
Interest-bearing: | ||||||||
Demand(a) | 81,449 | 84,631 | ||||||
Savings(b) | 457,111 | 450,405 | ||||||
Time (included $6,856 and $5,995 at fair value)(c) | 85,221 | 91,356 | ||||||
Total interest-bearing deposits | 623,781 | 626,392 | ||||||
Total deposits in U.S. offices | 1,041,388 | 1,016,255 | ||||||
Non-U.S. offices | ||||||||
Noninterest-bearing | 17,757 | 17,611 | ||||||
Interest-bearing: | ||||||||
Demand | 219,911 | 214,391 | ||||||
Savings | 1,687 | 1,083 | ||||||
Time (included $1,066 and $629 at fair value)(c) | 39,008 | 38,425 | ||||||
Total interest-bearing deposits | 260,606 | 253,899 | ||||||
Total deposits in non-U.S. offices | 278,363 | 271,510 | ||||||
Total deposits | $ | 1,319,751 | $ | 1,287,765 | ||||
(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 of JPMorgan Chase’s 2013 Annual Report. |
Earnings_Per_Share
Earnings Per Share | 6 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||
Earnings per share | ' | |||||||||||||
Earnings per share | ||||||||||||||
For a discussion of the computation of basic and diluted earnings per share (“EPS”), see Note 24 of JPMorgan Chase’s 2013 Annual Report. The following table presents the calculation of basic and diluted EPS for the three and six months ended June 30, 2014 and 2013. | ||||||||||||||
(in millions, except per share amounts) | Three months | Six months | ||||||||||||
ended June 30, | ended June 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Basic earnings per share | ||||||||||||||
Net income | $ | 5,985 | $ | 6,496 | $ | 11,259 | $ | 13,025 | ||||||
Less: Preferred stock dividends | 268 | 204 | 495 | 386 | ||||||||||
Net income applicable to common equity | 5,717 | 6,292 | 10,764 | 12,639 | ||||||||||
Less: Dividends and undistributed earnings allocated to participating securities | 144 | 191 | 294 | 407 | ||||||||||
Net income applicable to | $ | 5,573 | $ | 6,101 | $ | 10,470 | $ | 12,232 | ||||||
common stockholders | ||||||||||||||
Total weighted-average | 3,780.60 | 3,782.40 | 3,783.90 | 3,800.30 | ||||||||||
basic shares outstanding | ||||||||||||||
Net income per share | $ | 1.47 | $ | 1.61 | $ | 2.77 | $ | 3.22 | ||||||
Diluted earnings per share | ||||||||||||||
Net income applicable to | $ | 5,573 | $ | 6,101 | $ | 10,470 | $ | 12,232 | ||||||
common stockholders | ||||||||||||||
Total weighted-average | 3,780.60 | 3,782.40 | 3,783.90 | 3,800.30 | ||||||||||
basic shares outstanding | ||||||||||||||
Add: Employee stock options, | 31.9 | 31.9 | 34.2 | 30.3 | ||||||||||
SARs and | ||||||||||||||
warrants(a) | ||||||||||||||
Total weighted-average | 3,812.50 | 3,814.30 | 3,818.10 | 3,830.60 | ||||||||||
diluted shares outstanding(b) | ||||||||||||||
Net income per share | $ | 1.46 | $ | 1.6 | $ | 2.74 | $ | 3.19 | ||||||
(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 1 million and 8 million for the three months ended June 30, 2014 and 2013, respectively, and 1 million and 11 million for the six months ended June 30, 2014 and 2013, 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) | 6 Months Ended | |||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||
Equity [Abstract] | ' | |||||||||||||||||||||||||||||
Accumulated other comprehensive income (loss) | ' | |||||||||||||||||||||||||||||
Accumulated other comprehensive income/(loss) | ||||||||||||||||||||||||||||||
AOCI includes the after-tax change in unrealized gains and losses on investment 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. | ||||||||||||||||||||||||||||||
As of or for the three months ended | Unrealized gains/(losses) on investment securities(a) | Translation adjustments, net of hedges | Cash flow hedges | Defined benefit pension and OPEB plans | Accumulated other comprehensive income/(loss) | |||||||||||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||
Balance at April 1, 2014 | $ | 3,792 | $ | (138 | ) | $ | (80 | ) | $ | (1,298 | ) | $ | 2,276 | |||||||||||||||||
Net change | 1,075 | (b) | 12 | 68 | 7 | 1,162 | ||||||||||||||||||||||||
Balance at June 30, 2014 | $ | 4,867 | $ | (126 | ) | $ | (12 | ) | $ | (1,291 | ) | $ | 3,438 | |||||||||||||||||
As of or for the three months ended | Unrealized gains/(losses) on investment securities(a) | Translation adjustments, net of hedges | Cash flow hedges | Defined benefit pension and OPEB plans | Accumulated other comprehensive income/(loss) | |||||||||||||||||||||||||
30-Jun-13 | ||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||
Balance at April 1, 2013 | $ | 6,228 | $ | (108 | ) | $ | 58 | $ | (2,687 | ) | $ | 3,491 | ||||||||||||||||||
Net change | (3,091 | ) | (c) | (38 | ) | (290 | ) | 64 | (3,355 | ) | ||||||||||||||||||||
Balance at June 30, 2013 | $ | 3,137 | $ | (146 | ) | $ | (232 | ) | $ | (2,623 | ) | $ | 136 | |||||||||||||||||
As of or for the six months ended | Unrealized gains/(losses) on investment securities(a) | Translation adjustments, net of hedges | Cash flow hedges | Defined benefit pension and OPEB plans | Accumulated other comprehensive income/(loss) | |||||||||||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||
Balance at January 1, 2014 | $ | 2,798 | $ | (136 | ) | $ | (139 | ) | $ | (1,324 | ) | $ | 1,199 | |||||||||||||||||
Net change | 2,069 | (b) | 10 | 127 | 33 | 2,239 | ||||||||||||||||||||||||
Balance at June 30, 2014 | $ | 4,867 | $ | (126 | ) | $ | (12 | ) | $ | (1,291 | ) | $ | 3,438 | |||||||||||||||||
As of or for the six months ended | Unrealized gains/(losses) on investment securities(a) | Translation adjustments, net of hedges | Cash flow hedges | Defined benefit pension and OPEB plans | Accumulated other comprehensive income/(loss) | |||||||||||||||||||||||||
30-Jun-13 | ||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||
Balance at January 1, 2013 | $ | 6,868 | $ | (95 | ) | $ | 120 | $ | (2,791 | ) | $ | 4,102 | ||||||||||||||||||
Net change | (3,731 | ) | (c) | (51 | ) | (352 | ) | 168 | (3,966 | ) | ||||||||||||||||||||
Balance at June 30, 2013 | $ | 3,137 | $ | (146 | ) | $ | (232 | ) | $ | (2,623 | ) | $ | 136 | |||||||||||||||||
(a) | Represents the after-tax difference between the fair value and amortized cost of securities accounted for as AFS; including, as of the date of transfer during the first quarter of 2014, $9 million of net unrealized losses related to AFS securities that were transferred to HTM. Subsequent to transfer, includes any net unamortized unrealized gains and losses related to the transferred securities. | |||||||||||||||||||||||||||||
(b) | The net change for the three and six months ended June 30, 2014, was primarily due to higher market valuations of obligations of U.S. states and municipalities and U.S. mortgage-backed securities in the Firm’s AFS investment securities portfolio. | |||||||||||||||||||||||||||||
(c) | The net change for the three and six months ended June 30, 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 pretax and after-tax changes in the components of other comprehensive income/(loss). | ||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||
Three months ended June 30, (in millions) | Pretax | Tax effect | After-tax | Pretax | Tax effect | After-tax | ||||||||||||||||||||||||
Unrealized gains/(losses) on investment securities: | ||||||||||||||||||||||||||||||
Net unrealized gains/(losses) arising during the period | $ | 1,778 | $ | (695 | ) | $ | 1,083 | $ | (4,947 | ) | $ | 1,931 | $ | (3,016 | ) | |||||||||||||||
Reclassification adjustment for realized (gains)/losses included in | (12 | ) | 4 | (8 | ) | (124 | ) | 49 | (75 | ) | ||||||||||||||||||||
net income(a) | ||||||||||||||||||||||||||||||
Net change | 1,766 | (691 | ) | 1,075 | (5,071 | ) | 1,980 | (3,091 | ) | |||||||||||||||||||||
Translation adjustments: | ||||||||||||||||||||||||||||||
Translation(b) | 218 | (79 | ) | 139 | (607 | ) | 223 | (384 | ) | |||||||||||||||||||||
Hedges(b) | (208 | ) | 81 | (127 | ) | 571 | (225 | ) | 346 | |||||||||||||||||||||
Net change | 10 | 2 | 12 | (36 | ) | (2 | ) | (38 | ) | |||||||||||||||||||||
Cash flow hedges: | ||||||||||||||||||||||||||||||
Net unrealized gains/(losses) arising during the period | 143 | (57 | ) | 86 | (512 | ) | 201 | (311 | ) | |||||||||||||||||||||
Reclassification adjustment for realized (gains)/losses included in | (29 | ) | 11 | (18 | ) | 34 | (13 | ) | 21 | |||||||||||||||||||||
net income(c) | ||||||||||||||||||||||||||||||
Net change | 114 | (46 | ) | 68 | (478 | ) | 188 | (290 | ) | |||||||||||||||||||||
Defined benefit pension and OPEB plans: | ||||||||||||||||||||||||||||||
Net gains/(losses) arising during the period | 19 | (8 | ) | 11 | 37 | (15 | ) | 22 | ||||||||||||||||||||||
Reclassification adjustments included in net income(d): | ||||||||||||||||||||||||||||||
Amortization of net loss | 19 | (7 | ) | 12 | 79 | (31 | ) | 48 | ||||||||||||||||||||||
Prior service costs/(credits) | (12 | ) | 5 | (7 | ) | (11 | ) | 5 | (6 | ) | ||||||||||||||||||||
Foreign exchange and other | (15 | ) | 6 | (9 | ) | (1 | ) | 1 | — | |||||||||||||||||||||
Net change | 11 | (4 | ) | 7 | 104 | (40 | ) | 64 | ||||||||||||||||||||||
Total other comprehensive income/(loss) | $ | 1,901 | $ | (739 | ) | $ | 1,162 | $ | (5,481 | ) | $ | 2,126 | $ | (3,355 | ) | |||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||
Six months ended June 30, (in millions) | Pretax | Tax effect | After-tax | Pretax | Tax effect | After-tax | ||||||||||||||||||||||||
Unrealized gains/(losses) on investment securities: | ||||||||||||||||||||||||||||||
Net unrealized gains/(losses) arising during the period | $ | 3,399 | $ | (1,304 | ) | $ | 2,095 | $ | (5,462 | ) | $ | 2,116 | $ | (3,346 | ) | |||||||||||||||
Reclassification adjustment for realized (gains)/losses included in | (42 | ) | 16 | (26 | ) | (633 | ) | 248 | (385 | ) | ||||||||||||||||||||
net income(a) | ||||||||||||||||||||||||||||||
Net change | 3,357 | (1,288 | ) | 2,069 | (6,095 | ) | 2,364 | (3,731 | ) | |||||||||||||||||||||
Translation adjustments: | ||||||||||||||||||||||||||||||
Translation(b) | 372 | (142 | ) | 230 | (1,034 | ) | 381 | (653 | ) | |||||||||||||||||||||
Hedges(b) | (362 | ) | 142 | (220 | ) | 991 | (389 | ) | 602 | |||||||||||||||||||||
Net change | 10 | — | 10 | (43 | ) | (8 | ) | (51 | ) | |||||||||||||||||||||
Cash flow hedges: | ||||||||||||||||||||||||||||||
Net unrealized gains/(losses) arising during the period | 215 | (87 | ) | 128 | (642 | ) | 252 | (390 | ) | |||||||||||||||||||||
Reclassification adjustment for realized (gains)/losses included in | (2 | ) | 1 | (1 | ) | 63 | (25 | ) | 38 | |||||||||||||||||||||
net income(c) | ||||||||||||||||||||||||||||||
Net change | 213 | (86 | ) | 127 | (579 | ) | 227 | (352 | ) | |||||||||||||||||||||
Defined benefit pension and OPEB plans: | ||||||||||||||||||||||||||||||
Net gains/(losses) arising during the period | 88 | (34 | ) | 54 | 85 | (25 | ) | 60 | ||||||||||||||||||||||
Reclassification adjustments included in net income(d): | ||||||||||||||||||||||||||||||
Amortization of net loss | 37 | (15 | ) | 22 | 160 | (62 | ) | 98 | ||||||||||||||||||||||
Prior service costs/(credits) | (22 | ) | 9 | (13 | ) | (22 | ) | 9 | (13 | ) | ||||||||||||||||||||
Foreign exchange and other | (19 | ) | (11 | ) | (30 | ) | 36 | (13 | ) | 23 | ||||||||||||||||||||
Net change | 84 | (51 | ) | 33 | 259 | (91 | ) | 168 | ||||||||||||||||||||||
Total other comprehensive income/(loss) | $ | 3,664 | $ | (1,425 | ) | $ | 2,239 | $ | (6,458 | ) | $ | 2,492 | $ | (3,966 | ) | |||||||||||||||
(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 three and six months ended June 30, 2014, and 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. |
Regulatory_Capital
Regulatory Capital | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
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 Office of the Comptroller | ||||||||||||
of the Currency (“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. Basel III rules under the transitional Standardized and Advanced Approaches (“Basel III Standardized Transitional” and “Basel III Advanced Transitional,” respectively) became effective on January 1, 2014; all prior period data is based on Basel I rules. For 2014, Basel III Standardized Transitional requires the Firm to calculate its capital ratios using the Basel III definition of capital divided by the Basel I definition of RWA, inclusive of Basel 2.5 for market risk. On February 21, 2014, the Federal Reserve and the OCC informed the Firm and its national bank subsidiaries that they were approved to calculate capital under Basel III Advanced, in addition to Basel III Standardized, as of | ||||||||||||
April 1, 2014. | ||||||||||||
As of January 1, 2014, there are three categories of risk-based capital: Common Equity Tier 1 capital (“CET1 capital”) under the Basel III Transitional rules, as well as | ||||||||||||
Tier 1 capital and Tier 2 capital. CET1 capital predominantly includes common stockholders’ equity (including capital for AOCI related to debt and equity securities classified as AFS as well as for defined benefit pension and OPEB plans), less certain deductions for goodwill, MSRs and deferred tax assets that arise from net operating loss and tax credit carryforwards. Tier 1 capital is predominantly comprised of CET1 capital as well as perpetual preferred stock. Tier 2 capital includes Tier 1 capital as well as long-term debt qualifying as Tier 2 and qualifying allowance for credit losses. Total capital is Tier 1 capital plus Tier 2 capital. | ||||||||||||
Basel III establishes two comprehensive methodologies for calculating RWA, a Standardized approach and an Advanced approach. Key differences in the calculation of RWA between the Standardized and Advanced approaches include: (1) for Basel III Advanced, credit risk RWA is based on risk-sensitive approaches which largely rely on the use of internal credit models and parameters, whereas for Basel III Standardized, RWA is generally based on supervisory risk-weightings which vary only by counterparty type and asset class; and (2) Basel III Advanced includes RWA for operational risk, whereas Basel III Standardized does not. | ||||||||||||
As a result of becoming subject to Basel III Advanced on April 1, 2014, the capital adequacy of the Firm and its national bank subsidiaries will be evaluated against the Basel III approach (Standardized or Advanced) that results, for each quarter beginning with the second quarter of 2014, in the lower ratio (the “Collins Floor”), as required by the Collins Amendment of the Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). | ||||||||||||
The following tables present the regulatory capital, assets and risk-based capital ratios for JPMorgan Chase and its significant banking subsidiaries under both Basel III Standardized Transitional and Basel III Advanced Transitional at June 30, 2014, and under Basel I at December 31, 2013. | ||||||||||||
JPMorgan Chase & Co.(d) | ||||||||||||
Basel III Standardized Transitional | Basel III Advanced Transitional | Basel I | ||||||||||
(in millions, | Jun 30, | Jun 30, | Dec 31, | |||||||||
except ratios) | 2014 | 2014 | 2013 | |||||||||
Regulatory capital | ||||||||||||
CET1 capital | $ | 160,086 | $ | 160,086 | NA | |||||||
Tier 1 capital(a) | 179,884 | 179,884 | $ | 165,663 | ||||||||
Total capital | 213,780 | 203,076 | 199,286 | |||||||||
Assets | ||||||||||||
Risk-weighted | 1,458,620 | 1,626,427 | 1,387,863 | |||||||||
Adjusted average(b) | 2,374,025 | 2,374,025 | 2,343,713 | |||||||||
Capital ratios(c) | ||||||||||||
CET1 | 11 | % | 9.8 | % | NA | |||||||
Tier 1(a) | 12.3 | 11.1 | 11.9 | % | ||||||||
Total | 14.7 | 12.5 | 14.4 | |||||||||
Tier 1 leverage | 7.6 | 7.6 | 7.1 | |||||||||
JPMorgan Chase Bank, N.A.(d) | ||||||||||||
Basel III Standardized Transitional | Basel III Advanced Transitional | Basel I | ||||||||||
(in millions, | Jun 30, | Jun 30, | Dec 31, | |||||||||
except ratios) | 2014 | 2014 | 2013 | |||||||||
Regulatory capital | ||||||||||||
CET1 capital | $ | 149,961 | $ | 149,961 | NA | |||||||
Tier 1 capital(a) | 149,961 | 149,961 | $ | 139,727 | ||||||||
Total capital | 168,636 | 160,749 | 165,496 | |||||||||
Assets | ||||||||||||
Risk-weighted | 1,241,565 | 1,349,140 | 1,171,574 | |||||||||
Adjusted average(b) | 1,895,540 | 1,895,540 | 1,900,770 | |||||||||
Capital ratios(c) | ||||||||||||
CET1 | 12.1 | % | 11.1 | % | NA | |||||||
Tier 1(a) | 12.1 | 11.1 | 11.9 | % | ||||||||
Total | 13.6 | 11.9 | 14.1 | |||||||||
Tier 1 leverage | 7.9 | 7.9 | 7.4 | |||||||||
Chase Bank USA, N.A.(d) | ||||||||||||
Basel III Standardized Transitional | Basel III Advanced Transitional | Basel I | ||||||||||
(in millions, | Jun 30, | Jun 30, | Dec 31, | |||||||||
except ratios) | 2014 | 2014 | 2013 | |||||||||
Regulatory capital | ||||||||||||
CET1 capital | $ | 13,626 | $ | 13,626 | NA | |||||||
Tier 1 capital(a) | 13,626 | 13,626 | $ | 12,956 | ||||||||
Total capital | 19,526 | 18,276 | 16,389 | |||||||||
Assets | ||||||||||||
Risk-weighted | 98,509 | 154,964 | 100,990 | |||||||||
Adjusted average(b) | 114,031 | 114,031 | 109,731 | |||||||||
Capital ratios(c) | ||||||||||||
CET1 | 13.8 | % | 8.8 | % | NA | |||||||
Tier 1(a) | 13.8 | 8.8 | 12.8 | % | ||||||||
Total | 19.8 | 11.8 | 16.2 | |||||||||
Tier 1 leverage | 12 | 12 | 11.8 | |||||||||
(a) | At June 30, 2014, trust preferred securities included in Basel III Tier 1 capital were $2.7 billion and $300 million for JPMorgan Chase and JPMorgan Chase Bank, N.A., respectively. At June 30, 2014, Chase Bank USA, N.A. had no trust preferred securities. | |||||||||||
(b) | Adjusted average assets, for purposes of calculating the leverage ratio, include 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. | |||||||||||
(c) | Beginning April 1, 2014, the lower ratio represents the Collins Floor. | |||||||||||
(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. | |||||||||||
Note: | Rating agencies allow measures of capital to be adjusted upward for deferred tax liabilities, which have resulted from both non-taxable business combinations and from tax-deductible goodwill. The Firm had deferred tax liabilities resulting from non-taxable business combinations totaling $145 million and $192 million at June 30, 2014, and December 31, 2013, respectively; and deferred tax liabilities resulting from tax-deductible goodwill of $2.8 billion at both June 30, 2014, and December 31, 2013. | |||||||||||
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. Bank subsidiaries also are subject to these capital requirements by their respective primary regulators. The following table presents the minimum ratios to which the Firm and its national bank subsidiaries are subject as of June 30, 2014. | ||||||||||||
Well-capitalized ratios(b) | Minimum capital ratios(b) | |||||||||||
Capital ratios | ||||||||||||
CET1 | NA | 4 | % | |||||||||
Tier 1 | 6 | % | 5.5 | |||||||||
Total | 10 | 8 | ||||||||||
Tier 1 leverage | 5 | (a) | 4 | |||||||||
(a) | Represents requirements for bank 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. | |||||||||||
(b) | As defined by the regulations issued by the Federal Reserve, OCC and FDIC. In addition to the 2014 well-capitalized standards, beginning January 1, 2015, Basel III Transitional CET1 capital and the Basel III Standardized Transitional and the Basel III Advanced Transitional CET1 capital ratios become relevant capital measures under the prompt corrective action requirements defined by the regulations. | |||||||||||
As of June 30, 2014, and December 31, 2013, JPMorgan Chase and all of its banking subsidiaries were well-capitalized and met all capital requirements to which each was subject. |
OffBalance_Sheet_LendingRelate
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments | 6 Months Ended | |||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||
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. For further discussion of lending-related commitments and guarantees, and the Firm’s related accounting policies, see Note 29 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||
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 14 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 June 30, 2014, and December 31, 2013. 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 as permitted by law, without notice. 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(j) | |||||||||||||||||||||||||
Jun 30, 2014 | Dec 31, | Jun 30, | Dec 31, | |||||||||||||||||||||||
2013 | 2014 | 2013 | ||||||||||||||||||||||||
By remaining maturity | 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 | $ | 2,332 | $ | 4,303 | $ | 3,050 | $ | 2,268 | $ | 11,953 | $ | 13,158 | $ | — | $ | — | ||||||||||
Home equity – junior lien | 3,707 | 6,338 | 3,460 | 2,261 | 15,766 | 17,837 | — | — | ||||||||||||||||||
Prime mortgage | 6,679 | — | — | — | 6,679 | 4,817 | — | — | ||||||||||||||||||
Subprime mortgage | — | — | — | — | — | — | — | — | ||||||||||||||||||
Auto | 9,006 | 371 | 122 | 22 | 9,521 | 8,309 | 1 | 1 | ||||||||||||||||||
Business banking | 10,516 | 886 | 117 | 377 | 11,896 | 11,251 | 8 | 7 | ||||||||||||||||||
Student and other | 99 | 37 | 2 | 457 | 595 | 685 | — | — | ||||||||||||||||||
Total consumer, excluding credit card(a) | 32,339 | 11,935 | 6,751 | 5,385 | 56,410 | 56,057 | 9 | 8 | ||||||||||||||||||
Credit card(b) | 533,688 | — | — | — | 533,688 | 529,383 | — | — | ||||||||||||||||||
Total consumer | 566,027 | 11,935 | 6,751 | 5,385 | 590,098 | 585,440 | 9 | 8 | ||||||||||||||||||
Wholesale: | ||||||||||||||||||||||||||
Other unfunded commitments to extend credit(c)(d) | 59,664 | 76,645 | 108,410 | 8,628 | 253,347 | 246,495 | 410 | 432 | ||||||||||||||||||
Standby letters of credit and other financial guarantees(c)(d)(e) | 23,884 | 32,699 | 33,020 | 2,126 | 91,729 | 92,723 | 851 | 943 | ||||||||||||||||||
Unused advised lines of credit | 89,000 | 11,649 | 559 | 473 | 101,681 | 101,994 | — | — | ||||||||||||||||||
Other letters of credit(c) | 3,402 | 994 | 122 | — | 4,518 | 5,020 | 1 | 2 | ||||||||||||||||||
Total wholesale(f) | 175,950 | 121,987 | 142,111 | 11,227 | 451,275 | 446,232 | 1,262 | 1,377 | ||||||||||||||||||
Total lending-related | $ | 741,977 | $ | 133,922 | $ | 148,862 | $ | 16,612 | $ | 1,041,373 | $ | 1,031,672 | $ | 1,271 | $ | 1,385 | ||||||||||
Other guarantees and commitments | ||||||||||||||||||||||||||
Securities lending indemnification agreements and guarantees(g) | $ | 208,317 | $ | — | $ | — | $ | — | $ | 208,317 | $ | 169,709 | $ | — | $ | — | ||||||||||
Derivatives qualifying as guarantees | 1,088 | 795 | 13,836 | 37,733 | 53,452 | 56,274 | 44 | 72 | ||||||||||||||||||
Unsettled reverse repurchase and securities borrowing agreements(h) | 74,198 | — | — | — | 74,198 | 38,211 | — | — | ||||||||||||||||||
Loan sale and securitization-related indemnifications: | ||||||||||||||||||||||||||
Mortgage repurchase liability | NA | NA | NA | NA | NA | NA | 436 | 681 | ||||||||||||||||||
Loans sold with recourse | NA | NA | NA | NA | 6,775 | 7,692 | 115 | 131 | ||||||||||||||||||
Other guarantees and commitments(i) | 437 | 353 | 2,616 | 2,099 | 5,505 | 6,786 | (79 | ) | (99 | ) | ||||||||||||||||
(a) | Predominantly all consumer, excluding credit card, lending-related commitments contractual amounts are in the U.S. | |||||||||||||||||||||||||
(b) | Predominantly all credit card lending-related commitments contractual amounts are in the U.S. | |||||||||||||||||||||||||
(c) | At June 30, 2014, and December 31, 2013, reflects the contractual amount net of risk participations totaling $184 million and $476 million, respectively, for other unfunded commitments to extend credit; $14.3 billion and $14.8 billion, respectively, for standby letters of credit and other financial guarantees; and $538 million and $622 million, respectively, for other letters of credit. In regulatory filings with the Federal Reserve these commitments are shown gross of risk participations. | |||||||||||||||||||||||||
(d) | At June 30, 2014, and December 31, 2013, included credit enhancements and bond and commercial paper liquidity commitments to U.S. states and municipalities, hospitals and other non-profit entities of $17.0 billion and $18.9 billion, respectively, within other unfunded commitments to extend credit; and $15.2 billion and $17.2 billion, respectively, within standby letters of credit and other financial guarantees. Other unfunded commitments to extend credit also include liquidity facilities to nonconsolidated municipal bond VIEs; for further information, see Note 15. | |||||||||||||||||||||||||
(e) | At June 30, 2014, and December 31, 2013, included unissued standby letters of credit commitments of $44.8 billion and $42.8 billion, respectively. | |||||||||||||||||||||||||
(f) | At June 30, 2014, and December 31, 2013, the U.S. portion of the contractual amount of total wholesale lending-related commitments was 67% and 68%, respectively. | |||||||||||||||||||||||||
(g) | At June 30, 2014, and December 31, 2013, collateral held by the Firm in support of securities lending indemnification agreements was $216.3 billion and $176.4 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. | |||||||||||||||||||||||||
(h) | At June 30, 2014, and December 31, 2013, the amount of commitments related to forward-starting reverse repurchase agreements and securities borrowing agreements were $40.7 billion and $9.9 billion, respectively. Commitments related to unsettled reverse repurchase agreements and securities borrowing agreements with regular-way settlement periods were $33.5 billion and $28.3 billion, at June 30, 2014, and December 31, 2013, respectively. | |||||||||||||||||||||||||
(i) | At June 30, 2014, and December 31, 2013, included unfunded commitments of $130 million and $215 million, respectively, to third-party private equity funds; and $691 million and $1.9 billion, at June 30, 2014, and December 31, 2013, to other equity investments. These commitments included $111 million and $184 million, respectively, related to investments that are generally fair valued at net asset value as discussed in Note 3. In addition, at both June 30, 2014, and December 31, 2013, included letters of credit hedged by derivative transactions and managed on a market risk basis of $4.5 billion. | |||||||||||||||||||||||||
(j) | 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, and 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 finance activities, which were $23.1 billion and $18.3 billion at June 30, 2014, and December 31, 2013, respectively. | ||||||||||||||||||||||||||
For further information, see Note 3 and Note 4. | ||||||||||||||||||||||||||
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 $181 billion and $279 billion for the three months ended June 30, 2014 and 2013, respectively, and $182 billion and $287 billion for the six months ended June 30, 2014 and 2013, respectively. The prior period amounts have been revised to conform with the current period presentation. | ||||||||||||||||||||||||||
Guarantees | ||||||||||||||||||||||||||
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. For a further discussion of the off–balance sheet lending-related arrangements the Firm considers to be guarantees, and the related accounting policies, see Note 29 of JPMorgan Chase’s 2013 Annual Report. The recorded amounts of the liabilities related to guarantees and indemnifications at June 30, 2014, and December 31, 2013, 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 $852 million and $945 million at June 30, 2014, and December 31, 2013, respectively, which were classified in accounts payable and other liabilities on the Consolidated Balance Sheets; these carrying values included $229 million and $265 million, respectively, for the allowance for lending-related commitments, and $623 million and $680 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 June 30, 2014, and December 31, 2013. | ||||||||||||||||||||||||||
Standby letters of credit, other financial guarantees and other letters of credit | ||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||
(in millions) | Standby letters of | Other letters | Standby letters of | Other letters | ||||||||||||||||||||||
credit and other financial guarantees | of credit | credit and other financial guarantees | of credit | |||||||||||||||||||||||
Investment-grade(a) | $ | 68,440 | $ | 3,551 | $ | 69,109 | $ | 3,939 | ||||||||||||||||||
Noninvestment-grade(a) | 23,289 | 967 | 23,614 | 1,081 | ||||||||||||||||||||||
Total contractual amount | $ | 91,729 | $ | 4,518 | $ | 92,723 | $ | 5,020 | ||||||||||||||||||
Allowance for lending-related commitments | $ | 228 | $ | 1 | $ | 263 | $ | 2 | ||||||||||||||||||
Commitments with collateral | 40,331 | 1,718 | 40,410 | 1,473 | ||||||||||||||||||||||
(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. | |||||||||||||||||||||||||
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. For further information on these derivatives, see Note 29 of JPMorgan Chase’s 2013 Annual Report. The total notional value of the derivatives that the Firm deems to be guarantees was $53.5 billion and $56.3 billion at June 30, 2014, and December 31, 2013, 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 $27.2 billion and $27.0 billion at June 30, 2014, and December 31, 2013, respectively, and the maximum exposure to loss was $2.9 billion and 2.8 billion at June 30, 2014, and December 31, 2013, respectively. 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 $86 million and $109 million and derivative receivables of $42 million and $37 million at June 30, 2014, and December 31, 2013, 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 5. | ||||||||||||||||||||||||||
Loan sales- and securitization-related indemnifications | ||||||||||||||||||||||||||
Mortgage repurchase liability | ||||||||||||||||||||||||||
In connection with the Firm’s mortgage loan sale and securitization activities with the GSEs, as described in Note 15 of this Form 10-Q, and Note 16 of JPMorgan Chase’s 2013 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). 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. | ||||||||||||||||||||||||||
For additional information, see Note 29 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||
The following table summarizes the change in the mortgage repurchase liability for each of the periods presented. | ||||||||||||||||||||||||||
Summary of changes in mortgage repurchase liability(a) | ||||||||||||||||||||||||||
Three months | Six months ended June 30, | |||||||||||||||||||||||||
ended June 30, | ||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Repurchase liability at beginning of period | $ | 564 | $ | 2,674 | $ | 681 | $ | 2,811 | ||||||||||||||||||
Net realized gains/(losses)(b) | 8 | (191 | ) | 19 | (403 | ) | ||||||||||||||||||||
(Benefit)/provision for repurchase(c) | (136 | ) | (7 | ) | (264 | ) | 68 | |||||||||||||||||||
Repurchase liability at end of period | $ | 436 | $ | 2,476 | $ | 436 | $ | 2,476 | ||||||||||||||||||
(a) | 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. | |||||||||||||||||||||||||
(b) | 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 $1 million and $133 million for the three months ended June 30, 2014 and 2013, respectively and $3 million and $254 million for the six months ended June 30, 2014 and 2013, respectively. | |||||||||||||||||||||||||
(c) | Included a provision related to new loan sales of $1 million and $6 million for the three months ended June 30, 2014 and 2013, respectively, and $2 million and $14 million for the six months ended June 30, 2014 and 2013, 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. | ||||||||||||||||||||||||||
For additional information regarding litigation, see Note 23 of this Form 10-Q and Note 31 of JPMorgan Chase’s 2013 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 June 30, 2014, and December 31, 2013, the unpaid principal balance of loans sold with recourse totaled $6.8 billion and $7.7 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 $115 million and $131 million at June 30, 2014, and December 31, 2013, respectively. |
Pledged_Assets_and_Collateral
Pledged Assets and Collateral | 6 Months Ended |
Jun. 30, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Pledged assets and collateral | ' |
Pledged assets and collateral | |
For a discussion of the Firm’s pledged assets and collateral, see Note 30 of JPMorgan Chase’s 2013 Annual Report. | |
Pledged assets | |
At June 30, 2014, financial 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 assets owned (pledged to various parties) on the Consolidated Balance Sheets. At June 30, 2014, and December 31, 2013, the Firm had pledged assets of $269.0 billion and $251.3 billion, respectively, at Federal Reserve Banks and FHLBs. In addition, as of June 30, 2014, and December 31, 2013, the Firm had pledged $53.9 billion and $60.6 billion, respectively, of financial assets it owns that may not be sold or repledged by the secured parties. Total assets pledged do not include assets of consolidated VIEs; these assets are used to settle the liabilities of those entities. See Note 15 for additional information on assets and liabilities of consolidated VIEs. For additional information on the Firm’s securities financing activities, see Note 12. For additional information on the Firm’s long-term debt, see Note 21 of JPMorgan Chase’s 2013 Annual Report. | |
Collateral | |
At June 30, 2014 and December 31, 2013, the Firm had accepted financial assets as collateral that it could sell or repledge, deliver or otherwise use with a fair value of approximately $777.3 billion and $726.7 billion, respectively. This collateral was generally obtained under resale agreements, securities borrowing agreements, customer margin loans and derivative agreements. Of the collateral received, approximately $586.6 billion and $543.5 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 | 6 Months Ended |
Jun. 30, 2014 | |
Litigation [Abstract] | ' |
Litigation | ' |
Litigation | |
Contingencies | |
As of June 30, 2014, 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 $4.6 billion at June 30, 2014. 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. | |
CIO Investigations and Litigation. The Firm has been sued in a consolidated shareholder purported class action, a consolidated purported class action brought under the Employee Retirement Income Security Act (“ERISA”) and shareholder derivative actions brought in Delaware state court and in New York federal and state court relating to 2012 losses in the synthetic credit portfolio managed by the Firm’s Chief Investment Office (“CIO”). Plaintiffs in two of the shareholder derivative actions and the ERISA action have appealed the dismissal of their claims. The Firm also continues to cooperate with ongoing government investigations. | |
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. The Firm submitted a response to the Statement of Objections in January 2014, and the EC held a hearing in May 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 and other industry members are defendants 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. Defendants moved to dismiss in May 2014. | |
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. The Firm is responding to and continuing to cooperate with the relevant authorities. | |
Since November 2013, a number of class actions have been filed in the United States 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. In March 2014, plaintiffs filed a consolidated amended class action complaint, which defendants moved to dismiss in May 2014. | |
Interchange Litigation. A group of merchants and retail associations filed a series of class action complaints alleging 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. The parties have entered into an agreement to settle the cases, for a cash payment of $6.1 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. In December 2013, the Court issued a decision granting final approval of the settlement. A number of merchants have appealed. 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, which are subject to pending motions to dismiss. | |
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. JPMorgan Chase and the individuals appealed, and the Court fully acquitted JPMorgan Chase Bank, N.A. and its employees, stating that there was no case to answer. The deadline to file an appeal to the Italian Supreme Court has passed without an appeal being filed. | |
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, in which the judge will determine whether to recommend that the matter go to a full trial, is ongoing. | |
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 $7.9 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 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., LBHI’s broker-dealer subsidiary. Discovery is ongoing. | |
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. | |
LBHI and several of its subsidiaries that had been Chapter 11 debtors have also 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. The Clearing Claims and the derivatives claims, together with 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 in both cases 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 EC, 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 responding to and continuing to cooperate with these inquiries. In December 2013, JPMorgan Chase reached a settlement with the EC regarding its Japanese Yen LIBOR investigation and agreed to pay a fine of €80 million. Investigations by the EC with regard to other reference rates remain open. In May 2014, the EC issued a Statement of Objections outlining its case against the Firm (and others) as to EURIBOR. The Firm will file a response. 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, Euroyen TIBOR and/or EURIBOR 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, Euroyen TIBOR or EURIBOR 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 in three lead class actions, 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, class plaintiffs in two of the three lead class actions filed amended complaints and others sought leave to amend their complaints to add additional allegations. Defendants moved to dismiss the amended complaints and opposed the requests to amend. In June 2014, the Court issued a further order granting in part and denying in part defendants’ motions to dismiss the remaining claims. In relation to the Firm, the Court has permitted certain claims under the Commodity Exchange Act and common law claims to proceed. With respect to the third lead class action, which the Court dismissed in its entirety, after plaintiff’s appeal was dismissed by the Second Circuit, plaintiff sought and obtained leave to appeal to the U.S. Supreme Court on the question whether its appeal could proceed before final resolution of the other consolidated class actions. To date, the other U.S. dollar LIBOR cases have been stayed. | |
The purported class action alleging manipulation of Euroyen TIBOR and Yen LIBOR was 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. In March 2014, the Court granted in part and denied in part the defendants’ motions to dismiss including dismissal of plaintiff’s antitrust and unjust enrichment claims. Defendants have filed motions to reconsider, seeking dismissal of the remaining claims. Plaintiff filed a motion for leave to further amend the complaint to add additional parties and claims. | |
In March 2014, the Firm was added as a defendant in a putative class action pending in the United States District Court for the Southern District of New York relating to the interest rate benchmark EURIBOR. | |
The Firm was also 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. In March 2014, the Court granted the defendants’ motion to dismiss and plaintiff did not appeal this decision. | |
Madoff Litigation and Investigations. Settlements with the court-appointed trustee (the “Trustee”) for Bernard L. Madoff Investment Securities LLC (“BLMIS”) and with plaintiffs representing a class of former BLMIS customers who lost all or a portion of their principal investments with BLMIS have now been approved. Certain customers have opted out of the class action settlement. | |
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. All but two of these actions have been dismissed. | |
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 then petitioned the entire Court for a rehearing of the appeal, and in May 2014 the Court denied the petition. | |
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. In May 2014, the parties submitted briefs on the res judicata effect of the class action settlement and a decision is pending. | |
A purported class action has been filed in the United States District Court for the District of New Jersey by investors who were net winners (i.e., Madoff customers who had taken more money out of their accounts than had been invested) in Madoff’s Ponzi scheme and were not included in the class action settlement. These plaintiffs allege violations of the federal securities law, federal and state racketeering statutes and multiple common law claims including breach of trust, aiding and abetting embezzlement, unjust enrichment, conversion and commercial bad faith. The complaint seeks compensatory damages in the amount of the last statement balance for each plaintiff and punitive damages. A similar action has been filed in the United States District Court for the Middle District of Florida (the “Florida Action”), although it is not styled as a class action, and the plaintiffs, in addition to net winners, include a small number of net loser opt-outs. Plaintiffs filed an amended complaint in the Florida Action which includes only net winners, includes a claim pursuant to a Florida statute and dismisses three common law claims that were included in the earlier complaint. | |
Three shareholder derivative actions have also been filed in New York federal and state court against the Firm, as nominal defendant, and certain of its current and former Board members, alleging breach of fiduciary duty in connection with the Firm’s relationship with Bernard Madoff and the alleged failure to maintain effective internal controls to detect fraudulent transactions. The actions seek declaratory relief and damages. In July 2014, the federal court granted defendants’ motions to dismiss two of the actions and defendants have filed a motion to dismiss the remaining state court action. | |
MF Global. 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 Firm also 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. | |
Mortgage-Backed Securities and Repurchase Litigation and Related Regulatory Investigations. JPMorgan Chase and affiliates (together, “JPMC”), Bear Stearns and affiliates (together, “Bear Stearns”) and certain 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 $48 billion, of which $42 billion involves JPMC, Bear Stearns or Washington Mutual as issuer and $6 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. Three purported class actions were 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 to settle one of these purported class actions, pending in the United States District Court for the Eastern District of New York. That settlement has received final court approval. 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 two pending actions relating to a monoline insurer’s guarantees of principal and interest on certain classes of 11 different Bear Stearns MBS offerings. These actions are pending in state court 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 JPMorgan Chase Bank, N.A., Washington Mutual and the Federal Deposit Insurance Corporation (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 threatened litigation demands by securitization trustees, as well as demands by investors directing trustees to investigate claims or bring litigation, which allege obligations to repurchase loans and to address 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 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, JPMC and this investor group have made a binding offer to the trustees of MBS issued by JPMC and Bear Stearns providing for the payment of $4.5 billion and the implementation of certain servicing changes 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 Washington Mutual MBS. On August 1, 2014, the trustees announced their determination to accept the offer in whole or in part for 310 of the 330 MBS trusts and to proceed with seeking judicial approval of such acceptance. The trustees rejected the settlement offer in whole or in part for six trusts that are subject to pending monoline insurer or repurchase litigation, and received a 60-day extension to solicit investor direction on whether the offer should be accepted for an additional 14 trusts and for certain loan groups in 13 trusts for which the offer was accepted in part on August 1, 2014. | |
There are additional repurchase and servicing claims made against trustees not affiliated with the Firm but involving trusts that the Firm sponsored. | |
Derivative Actions. Shareholder derivative actions relating to the Firm’s MBS activities have been filed 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. Two of the New York actions have been dismissed and defendants have filed, or intend to file, motions to dismiss the remaining actions. | |
Government Enforcement Investigations and Litigation. 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 continuing to cooperate 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 residential and commercial 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. | |
One shareholder derivative action has 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. In June 2014, defendants filed a motion to dismiss, which is pending. | |
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, three municipalities have commenced litigation against the Firm alleging violations of the FHA and ECOA and seeking damages in the form of lost tax revenue and increased municipal costs associated with foreclosed properties. A motion to dismiss has been filed in one of the actions. | |
JPMorgan Chase Bank, N.A. is responding to inquiries by the Executive Office of the U.S. Bankruptcy Trustee and various regional U.S. Bankruptcy Trustees relating to mortgage payment change notices and escrow statements in bankruptcy proceedings. | |
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 responding to and cooperating with the investigation. | |
Referral Hiring Practices Investigations. Various regulators 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 responding to and continuing to cooperate with these investigations. | |
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. | |
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 and amended to include JPMorgan Chase Bank, N.A. as a defendant, 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 affiliates 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 JPMorgan Chase and the FDIC that sought a ruling on whether the FDIC retained liability for Deutsche Bank’s claims. The defendants have filed additional motions as to that issue. | |
An action filed by certain holders of Washington Mutual Bank debt against JPMorgan Chase, which alleges 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 JPMorgan Chase 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. In accordance with the provisions of U.S. GAAP for contingencies, the Firm accrues for a litigation-related liability when it is probable that such a 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 downward, as appropriate, based on management’s best judgment after consultation with counsel. The Firm incurred legal expense of $669 million and $678 million during the three months ended June 30, 2014 and 2013, respectively, and $707 million and $1.0 billion during the six months ended June 30, 2014 and 2013, respectively. 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. |
Business_Segments
Business Segments | 6 Months Ended | |||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||
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 further discussion concerning JPMorgan Chase’s business segments, see Business Segment Results on page 19 of this Form | ||||||||||||||||||||||||||||
10-Q, and pages 84–85 and Note 33 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||
Segment results | ||||||||||||||||||||||||||||
The accompanying tables provide a summary of the Firm’s segment results for the three and six months ended June 30, 2014 and 2013, 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 in the managed results 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). | ||||||||||||||||||||||||||||
Effective January 1, 2014, the Firm revised the capital allocated to certain businesses and will continue to assess the level of capital required for each line of business, as well as the assumptions and methodologies used to allocate capital to the business segments. Further refinements may be implemented in future periods. | ||||||||||||||||||||||||||||
Segment results and reconciliation(a) | ||||||||||||||||||||||||||||
As of or for the three months ended June 30, | Consumer & | Corporate & | Commercial Banking | Asset Management | ||||||||||||||||||||||||
(in millions, except ratios) | Community Banking | Investment Bank | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Noninterest revenue | $ | 4,468 | $ | 4,921 | $ | 6,531 | $ | 7,171 | $ | 577 | $ | 551 | $ | 2,380 | $ | 2,156 | ||||||||||||
Net interest income | 6,963 | 7,094 | 2,460 | 2,705 | 1,124 | 1,177 | 576 | 569 | ||||||||||||||||||||
Total net revenue | 11,431 | 12,015 | 8,991 | 9,876 | 1,701 | 1,728 | 2,956 | 2,725 | ||||||||||||||||||||
Provision for credit losses | 852 | (19 | ) | (84 | ) | (6 | ) | (67 | ) | 44 | 1 | 23 | ||||||||||||||||
Noninterest expense | 6,456 | 6,864 | 6,058 | 5,742 | 675 | 652 | 2,062 | 1,892 | ||||||||||||||||||||
Income/(loss) before | 4,123 | 5,170 | 3,017 | 4,140 | 1,093 | 1,032 | 893 | 810 | ||||||||||||||||||||
income tax expense/(benefit) | ||||||||||||||||||||||||||||
Income tax expense/(benefit) | 1,680 | 2,081 | 1,054 | 1,302 | 435 | 411 | 341 | 310 | ||||||||||||||||||||
Net income/(loss) | $ | 2,443 | $ | 3,089 | $ | 1,963 | $ | 2,838 | $ | 658 | $ | 621 | $ | 552 | $ | 500 | ||||||||||||
Average common equity | $ | 51,000 | $ | 46,000 | $ | 61,000 | $ | 56,500 | $ | 14,000 | $ | 13,500 | $ | 9,000 | $ | 9,000 | ||||||||||||
Total assets | 447,277 | 460,642 | 873,288 | 873,527 | 192,523 | 184,124 | 128,362 | 115,157 | ||||||||||||||||||||
Return on average common equity | 19 | % | 27 | % | 13 | % | 20 | % | 19 | % | 18 | % | 25 | % | 22 | % | ||||||||||||
Overhead ratio | 56 | 57 | 67 | 58 | 40 | 38 | 70 | 69 | ||||||||||||||||||||
As of or for the three months ended June 30, | Corporate/Private Equity | Reconciling Items(b) | Total | |||||||||||||||||||||||||
(in millions, except ratios) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Noninterest revenue | $ | 351 | $ | 290 | $ | (651 | ) | $ | (582 | ) | $ | 13,656 | $ | 14,507 | ||||||||||||||
Net interest income | (81 | ) | (676 | ) | (244 | ) | (165 | ) | 10,798 | 10,704 | ||||||||||||||||||
Total net revenue | 270 | (386 | ) | (895 | ) | (747 | ) | 24,454 | 25,211 | |||||||||||||||||||
Provision for credit losses | (10 | ) | 5 | — | — | 692 | 47 | |||||||||||||||||||||
Noninterest expense | 180 | 716 | — | — | 15,431 | 15,866 | ||||||||||||||||||||||
Income/(loss) before income tax expense/(benefit) | 100 | (1,107 | ) | (895 | ) | (747 | ) | 8,331 | 9,298 | |||||||||||||||||||
Income tax expense/(benefit) | (269 | ) | (555 | ) | (895 | ) | (747 | ) | 2,346 | 2,802 | ||||||||||||||||||
Net income/(loss) | $ | 369 | $ | (552 | ) | $ | — | $ | — | $ | 5,985 | $ | 6,496 | |||||||||||||||
Average common equity | $ | 71,159 | $ | 72,283 | $ | — | $ | — | $ | 206,159 | $ | 197,283 | ||||||||||||||||
Total assets | 878,886 | 806,044 | NA | NA | 2,520,336 | 2,439,494 | ||||||||||||||||||||||
Return on average common equity | NM | NM | NM | NM | 11 | % | 13 | % | ||||||||||||||||||||
Overhead ratio | NM | NM | NM | NM | 63 | 63 | ||||||||||||||||||||||
Segment results and reconciliation(a) | ||||||||||||||||||||||||||||
As of or for the six months ended June 30, | Consumer & | Corporate & | Commercial Banking | Asset Management | ||||||||||||||||||||||||
(in millions, except ratios) | Community Banking | Investment Bank | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Noninterest revenue | $ | 7,902 | $ | 9,327 | $ | 12,767 | $ | 14,528 | $ | 1,135 | $ | 1,086 | $ | 4,598 | $ | 4,250 | ||||||||||||
Net interest income | 13,989 | 14,303 | 4,830 | 5,488 | 2,217 | 2,315 | 1,136 | 1,128 | ||||||||||||||||||||
Total net revenue | 21,891 | 23,630 | 17,597 | 20,016 | 3,352 | 3,401 | 5,734 | 5,378 | ||||||||||||||||||||
Provision for credit losses | 1,668 | 530 | (35 | ) | 5 | (62 | ) | 83 | (8 | ) | 44 | |||||||||||||||||
Noninterest expense | 12,893 | 13,654 | 11,662 | 11,853 | 1,361 | 1,296 | 4,137 | 3,768 | ||||||||||||||||||||
Income/(loss) before | 7,330 | 9,446 | 5,970 | 8,158 | 2,053 | 2,022 | 1,605 | 1,566 | ||||||||||||||||||||
income tax expense/(benefit) | ||||||||||||||||||||||||||||
Income tax expense/(benefit) | 2,951 | 3,771 | 2,028 | 2,710 | 817 | 805 | 612 | 579 | ||||||||||||||||||||
Net income/(loss) | $ | 4,379 | $ | 5,675 | $ | 3,942 | $ | 5,448 | $ | 1,236 | $ | 1,217 | $ | 993 | $ | 987 | ||||||||||||
Average common equity | $ | 51,000 | $ | 46,000 | $ | 61,000 | $ | 56,500 | $ | 14,000 | $ | 13,500 | $ | 9,000 | $ | 9,000 | ||||||||||||
Total assets | 447,277 | 460,642 | 873,288 | 873,527 | 192,523 | 184,124 | 128,362 | 115,157 | ||||||||||||||||||||
Return on average common equity | 17 | % | 25 | % | 13 | % | 19 | % | 18 | % | 18 | % | 22 | % | 22 | % | ||||||||||||
Overhead ratio | 59 | 58 | 66 | 59 | 41 | 38 | 72 | 70 | ||||||||||||||||||||
As of or for the six months ended June 30, | Corporate/Private Equity | Reconciling Items(b) | Total | |||||||||||||||||||||||||
(in millions, except ratios) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Noninterest revenue | $ | 875 | $ | 651 | $ | (1,295 | ) | $ | (1,146 | ) | $ | 25,982 | $ | 28,696 | ||||||||||||||
Net interest income | (237 | ) | (1,270 | ) | (470 | ) | (327 | ) | 21,465 | 21,637 | ||||||||||||||||||
Total net revenue | 638 | (619 | ) | (1,765 | ) | (1,473 | ) | 47,447 | 50,333 | |||||||||||||||||||
Provision for credit losses | (21 | ) | 2 | — | — | 1,542 | 664 | |||||||||||||||||||||
Noninterest expense | 14 | 718 | — | — | 30,067 | 31,289 | ||||||||||||||||||||||
Income/(loss) before income tax expense/(benefit) | 645 | (1,339 | ) | (1,765 | ) | (1,473 | ) | 15,838 | 18,380 | |||||||||||||||||||
Income tax expense/(benefit) | (64 | ) | (1,037 | ) | (1,765 | ) | (1,473 | ) | 4,579 | 5,355 | ||||||||||||||||||
Net income/(loss) | $ | 709 | $ | (302 | ) | $ | — | $ | — | $ | 11,259 | $ | 13,025 | |||||||||||||||
Average common equity | $ | 68,989 | $ | 71,016 | $ | — | $ | — | $ | 203,989 | $ | 196,016 | ||||||||||||||||
Total assets | 878,886 | 806,044 | NA | NA | 2,520,336 | 2,439,494 | ||||||||||||||||||||||
Return on average common equity | NM | NM | NM | NM | 11 | % | 13 | % | ||||||||||||||||||||
Overhead ratio | NM | NM | NM | NM | 63 | 62 | ||||||||||||||||||||||
(a) | Managed basis starts with the reported U.S. GAAP results and includes certain reclassifications that do not have any impact on net income as reported by the lines of business or by the Firm as a whole. | |||||||||||||||||||||||||||
(b) | Segment managed results reflect revenue on a FTE basis with the corresponding income tax impact recorded within income tax expense/(benefit). These FTE adjustments are eliminated in reconciling items to arrive at the Firm’s reported U.S. GAAP results. |
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [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. | |
Use of estimates policy | ' |
The unaudited Consolidated Financial Statements prepared in conformity with U.S. GAAP require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expense, and the disclosures of contingent assets and liabilities. Actual results could be different from these estimates. In the opinion of management, all normal, recurring adjustments have been included for a fair statement of this interim financial information. | |
Reclassifications policy | ' |
Certain amounts reported in prior periods have been reclassified to conform with the current presentation. | |
Balance sheet offsetting, policy | ' |
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. |
Securities_Policies
Securities (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Investments, Debt and Equity Securities [Abstract] | ' |
Marketable Securities, Available-for-sale Securities, Policy | ' |
Securities are classified as AFS, HTM or trading. |
Variable_Interest_Entities_Pol
Variable Interest Entities (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Variable Interest Entities [Abstract] | ' |
Transfers and Servicing of Financial Assets, Policy | ' |
Note 21, 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 may elect 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. |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
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. |
Fair_Value_Measurement_Tables
Fair Value Measurement (Tables) | 6 Months Ended | ||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis | ' | ||||||||||||||||||||||||||||||||
The following table presents the asset and liabilities reported at fair value as of June 30, 2014, and December 31, 2013, by major product category and fair value hierarchy. | |||||||||||||||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis | |||||||||||||||||||||||||||||||||
Fair value hierarchy | Netting adjustments | ||||||||||||||||||||||||||||||||
June 30, 2014 (in millions) | Level 1 | Level 2 | Level 3 | Total fair value | |||||||||||||||||||||||||||||
Federal funds sold and securities purchased under resale agreements | $ | — | $ | 27,837 | $ | — | $ | — | $ | 27,837 | |||||||||||||||||||||||
Securities borrowed | — | 2,134 | — | — | 2,134 | ||||||||||||||||||||||||||||
Trading assets: | |||||||||||||||||||||||||||||||||
Debt instruments: | |||||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||||
U.S. government agencies(a) | 9 | 25,682 | 1,125 | — | 26,816 | ||||||||||||||||||||||||||||
Residential – nonagency | — | 1,622 | 543 | — | 2,165 | ||||||||||||||||||||||||||||
Commercial – nonagency | — | 1,265 | 327 | — | 1,592 | ||||||||||||||||||||||||||||
Total mortgage-backed securities | 9 | 28,569 | 1,995 | — | 30,573 | ||||||||||||||||||||||||||||
U.S. Treasury and government agencies(a) | 27,221 | 6,893 | — | — | 34,114 | ||||||||||||||||||||||||||||
Obligations of U.S. states and municipalities | — | 6,413 | 1,079 | — | 7,492 | ||||||||||||||||||||||||||||
Certificates of deposit, bankers’ acceptances and commercial paper | — | 1,918 | — | — | 1,918 | ||||||||||||||||||||||||||||
Non-U.S. government debt securities | 28,957 | 25,865 | 128 | — | 54,950 | ||||||||||||||||||||||||||||
Corporate debt securities | — | 27,357 | 4,793 | — | 32,150 | ||||||||||||||||||||||||||||
Loans(b) | — | 19,669 | 13,521 | — | 33,190 | ||||||||||||||||||||||||||||
Asset-backed securities | — | 3,090 | 1,216 | — | 4,306 | ||||||||||||||||||||||||||||
Total debt instruments | 56,187 | 119,774 | 22,732 | — | 198,693 | ||||||||||||||||||||||||||||
Equity securities | 112,284 | 846 | 704 | — | 113,834 | ||||||||||||||||||||||||||||
Physical commodities(c) | 5,337 | 4,212 | 3 | — | 9,552 | ||||||||||||||||||||||||||||
Other | — | 5,745 | 2,341 | — | 8,086 | ||||||||||||||||||||||||||||
Total debt and equity instruments(d) | 173,808 | 130,577 | 25,780 | — | 330,165 | ||||||||||||||||||||||||||||
Derivative receivables: | |||||||||||||||||||||||||||||||||
Interest rate | 496 | 815,033 | 4,772 | (791,472 | ) | 28,829 | |||||||||||||||||||||||||||
Credit | — | 78,004 | 3,048 | (78,088 | ) | 2,964 | |||||||||||||||||||||||||||
Foreign exchange | 464 | 111,149 | 1,638 | (101,626 | ) | 11,625 | |||||||||||||||||||||||||||
Equity | — | 47,293 | 2,501 | (40,417 | ) | 9,377 | |||||||||||||||||||||||||||
Commodity | 210 | 35,344 | 572 | (26,543 | ) | 9,583 | |||||||||||||||||||||||||||
Total derivative receivables(e) | 1,170 | 1,086,823 | 12,531 | (1,038,146 | ) | 62,378 | |||||||||||||||||||||||||||
Total trading assets | 174,978 | 1,217,400 | 38,311 | (1,038,146 | ) | 392,543 | |||||||||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||||
U.S. government agencies(a) | — | 64,512 | — | — | 64,512 | ||||||||||||||||||||||||||||
Residential – nonagency | — | 58,139 | 100 | — | 58,239 | ||||||||||||||||||||||||||||
Commercial – nonagency | — | 17,999 | 414 | — | 18,413 | ||||||||||||||||||||||||||||
Total mortgage-backed securities | — | 140,650 | 514 | — | 141,164 | ||||||||||||||||||||||||||||
U.S. Treasury and government agencies(a) | 19,230 | 129 | — | — | 19,359 | ||||||||||||||||||||||||||||
Obligations of U.S. states and municipalities | — | 28,086 | — | — | 28,086 | ||||||||||||||||||||||||||||
Certificates of deposit | — | 1,410 | — | — | 1,410 | ||||||||||||||||||||||||||||
Non-U.S. government debt securities | 26,024 | 31,821 | — | — | 57,845 | ||||||||||||||||||||||||||||
Corporate debt securities | — | 21,356 | — | — | 21,356 | ||||||||||||||||||||||||||||
Asset-backed securities: | |||||||||||||||||||||||||||||||||
Collateralized loan obligations | — | 27,652 | 798 | — | 28,450 | ||||||||||||||||||||||||||||
Other | — | 12,584 | 524 | — | 13,108 | ||||||||||||||||||||||||||||
Equity securities | 3,291 | — | — | — | 3,291 | ||||||||||||||||||||||||||||
Total available-for-sale securities | 48,545 | 263,688 | 1,836 | — | 314,069 | ||||||||||||||||||||||||||||
Loans | — | 76 | 4,227 | — | 4,303 | ||||||||||||||||||||||||||||
Mortgage servicing rights | — | — | 8,347 | — | 8,347 | ||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||
Private equity investments(f) | 339 | 318 | 4,883 | — | 5,540 | ||||||||||||||||||||||||||||
All other | 4,280 | 297 | 2,776 | — | 7,353 | ||||||||||||||||||||||||||||
Total other assets | 4,619 | 615 | 7,659 | — | 12,893 | ||||||||||||||||||||||||||||
Total assets measured at fair value on a recurring basis | $ | 228,142 | $ | 1,511,750 | (g) | $ | 60,380 | (g) | $ | (1,038,146 | ) | $ | 762,126 | ||||||||||||||||||||
Deposits | $ | — | $ | 5,084 | $ | 2,838 | $ | — | $ | 7,922 | |||||||||||||||||||||||
Federal funds purchased and securities loaned or sold under repurchase agreements | — | 2,630 | — | — | 2,630 | ||||||||||||||||||||||||||||
Other borrowed funds | — | 13,865 | 1,538 | — | 15,403 | ||||||||||||||||||||||||||||
Trading liabilities: | |||||||||||||||||||||||||||||||||
Debt and equity instruments(d) | 69,704 | 18,077 | 80 | — | 87,861 | ||||||||||||||||||||||||||||
Derivative payables: | |||||||||||||||||||||||||||||||||
Interest rate | 612 | 783,367 | 3,239 | (772,129 | ) | 15,089 | |||||||||||||||||||||||||||
Credit | — | 76,642 | 2,914 | (76,724 | ) | 2,832 | |||||||||||||||||||||||||||
Foreign exchange | 481 | 111,371 | 2,832 | (103,002 | ) | 11,682 | |||||||||||||||||||||||||||
Equity | — | 48,817 | 4,707 | (42,500 | ) | 11,024 | |||||||||||||||||||||||||||
Commodity | 121 | 36,046 | 694 | (26,693 | ) | 10,168 | |||||||||||||||||||||||||||
Total derivative payables(e) | 1,214 | 1,056,243 | 14,386 | (1,021,048 | ) | 50,795 | |||||||||||||||||||||||||||
Total trading liabilities | 70,918 | 1,074,320 | 14,466 | (1,021,048 | ) | 138,656 | |||||||||||||||||||||||||||
Accounts payable and other liabilities | — | — | 45 | — | 45 | ||||||||||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | — | 1,032 | 1,062 | — | 2,094 | ||||||||||||||||||||||||||||
Long-term debt | — | 19,396 | 11,746 | — | 31,142 | ||||||||||||||||||||||||||||
Total liabilities measured at fair value on a recurring basis | $ | 70,918 | $ | 1,116,327 | $ | 31,695 | $ | (1,021,048 | ) | $ | 197,892 | ||||||||||||||||||||||
Fair value hierarchy | Netting adjustments | ||||||||||||||||||||||||||||||||
December 31, 2013 (in millions) | Level 1 | Level 2 | Level 3 | 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 | ||||||||||||||||||||||
(a) | At June 30, 2014, and December 31, 2013, included total U.S. government-sponsored enterprise obligations of $80.6 billion and $91.5 billion, respectively, which were predominantly mortgage-related. | ||||||||||||||||||||||||||||||||
(b) | At June 30, 2014, and December 31, 2013, included within trading loans were $15.5 billion and $14.8 billion, respectively, of residential first-lien mortgages, and $4.4 billion and $2.1 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 $6.6 billion and $6.0 billion, respectively, and reverse mortgages of $3.7 billion and $3.6 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 5. 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 $4.2 billion and $7.6 billion at June 30, 2014, and December 31, 2013, 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 $6.3 billion and $8.0 billion at June 30, 2014, and December 31, 2013, 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 June 30, 2014, and December 31, 2013, the fair values of these investments were $2.2 billion and $3.2 billion, respectively, of which $590 million and $899 million, respectively, were classified in level 2, and $1.6 billion and $2.3 billion, respectively, in level 3. | ||||||||||||||||||||||||||||||||
Fair value inputs, assets and liabilities, quantitative information | ' | ||||||||||||||||||||||||||||||||
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; instead 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 at June 30, 2014, 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) | |||||||||||||||||||||||||||||||||
June 30, 2014 (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 | $ | 9,931 | Discounted cash flows | Yield | 2 | % | - | 15% | 6% | ||||||||||||||||||||||||
Prepayment speed | 0 | % | - | 21% | 6% | ||||||||||||||||||||||||||||
Conditional default rate | 0 | % | - | 100% | 29% | ||||||||||||||||||||||||||||
Loss severity | 0 | % | - | 100% | 22% | ||||||||||||||||||||||||||||
Commercial mortgage-backed securities and loans(b) | 2,500 | Discounted cash flows | Yield | 3 | % | - | 28% | 15% | |||||||||||||||||||||||||
Conditional default rate | 0 | % | - | 100% | 10% | ||||||||||||||||||||||||||||
Loss severity | 0 | % | - | 40% | 35% | ||||||||||||||||||||||||||||
Corporate debt securities, obligations of U.S. states and municipalities, and other(c) | 16,933 | Discounted cash flows | Credit spread | 53 bps | - | 365 bps | 167 bps | ||||||||||||||||||||||||||
Yield | 1 | % | - | 43% | 9% | ||||||||||||||||||||||||||||
4,078 | Market comparables | Price | — | - | 120 | 94 | |||||||||||||||||||||||||||
Net interest rate derivatives | 1,533 | Option pricing | Interest rate correlation | (75 | )% | - | 97% | ||||||||||||||||||||||||||
Interest rate spread volatility | 0 | % | - | 60% | |||||||||||||||||||||||||||||
Net credit derivatives(b)(c) | 134 | Discounted cash flows | Credit correlation | 44 | % | - | 86% | ||||||||||||||||||||||||||
Net foreign exchange derivatives | (1,194 | ) | Option pricing | Foreign exchange correlation | 48 | % | - | 75% | |||||||||||||||||||||||||
Net equity derivatives | (2,206 | ) | Option pricing | Equity volatility | 20 | % | - | 50% | |||||||||||||||||||||||||
Net commodity derivatives | (122 | ) | Discounted cash flows | Forward commodity price | $ | 20 | - | $160 | per megawatt hour | ||||||||||||||||||||||||
Collateralized loan obligations | 798 | Discounted cash flows | Credit spread | 240 bps | - | 500 bps | 252 bps | ||||||||||||||||||||||||||
Prepayment speed | 20% | 20% | |||||||||||||||||||||||||||||||
Conditional default rate | 2% | 2% | |||||||||||||||||||||||||||||||
Loss severity | 40% | 40% | |||||||||||||||||||||||||||||||
379 | Market comparables | Price | 0 | - | 108 | 79 | |||||||||||||||||||||||||||
Mortgage servicing rights (“MSRs”) | 8,347 | Discounted cash flows | Refer to Note 16. | ||||||||||||||||||||||||||||||
Private equity direct investments | 4,419 | Market comparables | EBITDA multiple | 2.7x | - | 12.3x | 7.6x | ||||||||||||||||||||||||||
Liquidity adjustment | 0 | % | - | 49% | 13% | ||||||||||||||||||||||||||||
Private equity fund investments | 464 | Net asset value | Net asset value(e) | ||||||||||||||||||||||||||||||
Long-term debt, other borrowed funds, and deposits(d) | 14,763 | Option pricing | Interest rate correlation | (75 | )% | - | 97% | ||||||||||||||||||||||||||
Foreign exchange correlation | 0 | % | - | 75% | |||||||||||||||||||||||||||||
Equity correlation | (55 | )% | - | 80% | |||||||||||||||||||||||||||||
1,359 | Discounted cash flows | Credit correlation | 44 | % | - | 86% | |||||||||||||||||||||||||||
(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 $389 million of credit derivative receivables and $342 million of credit derivative payables with underlying commercial 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 $1.1 billion of credit derivative receivables and $972 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) | 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. | ||||||||||||||||||||||||||||||||
(e) | 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 | ' | ||||||||||||||||||||||||||||||||
The following tables include a rollforward of the Consolidated Balance Sheets amounts (including changes in fair value) for financial instruments classified by the Firm within level 3 of the fair value hierarchy for the three and six months ended June 30, 2014 and 2013. 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 or 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 | |||||||||||||||||||||||||||||||||
Three months ended June 30, 2014 | Fair value at April 1, 2014 | Total realized/unrealized gains/(losses) | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized gains/(losses) related | ||||||||||||||||||||||||||||
(in millions) | Purchases(g) | Sales | Settlements | 30-Jun-14 | to financial instruments held at June 30, 2014 | ||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||
Trading assets: | |||||||||||||||||||||||||||||||||
Debt instruments: | |||||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||||
U.S. government agencies | $ | 1,150 | $ | 27 | $ | 12 | $ | (12 | ) | $ | (33 | ) | $ | (19 | ) | $ | 1,125 | $ | 28 | ||||||||||||||
Residential – nonagency | 715 | 67 | 181 | (314 | ) | (12 | ) | (94 | ) | 543 | 21 | ||||||||||||||||||||||
Commercial – nonagency | 465 | 8 | 260 | (187 | ) | (34 | ) | (185 | ) | 327 | — | ||||||||||||||||||||||
Total mortgage-backed securities | 2,330 | 102 | 453 | (513 | ) | (79 | ) | (298 | ) | 1,995 | 49 | ||||||||||||||||||||||
Obligations of U.S. states and municipalities | 1,219 | (35 | ) | — | (105 | ) | — | 1,079 | (44 | ) | |||||||||||||||||||||||
Non-U.S. government debt securities | 52 | 3 | 25 | (3 | ) | (1 | ) | 52 | 128 | 3 | |||||||||||||||||||||||
Corporate debt securities | 4,873 | 130 | 1,163 | (663 | ) | (823 | ) | 113 | 4,793 | 74 | |||||||||||||||||||||||
Loans | 12,521 | 372 | 3,129 | (1,108 | ) | (1,172 | ) | (221 | ) | 13,521 | 376 | ||||||||||||||||||||||
Asset-backed securities | 1,156 | 46 | 807 | (776 | ) | (151 | ) | 134 | 1,216 | 32 | |||||||||||||||||||||||
Total debt instruments | 22,151 | 618 | 5,577 | (3,168 | ) | (2,226 | ) | (220 | ) | 22,732 | 490 | ||||||||||||||||||||||
Equity securities | 885 | 18 | 49 | (56 | ) | (25 | ) | (167 | ) | 704 | 83 | ||||||||||||||||||||||
Physical commodities | 3 | — | — | — | — | — | 3 | — | |||||||||||||||||||||||||
Other | 1,284 | 266 | 656 | (127 | ) | (67 | ) | 329 | 2,341 | 173 | |||||||||||||||||||||||
Total trading assets – debt and equity instruments | 24,323 | 902 | (c) | 6,282 | (3,351 | ) | (2,318 | ) | (58 | ) | 25,780 | 746 | (c) | ||||||||||||||||||||
Net derivative receivables:(a) | |||||||||||||||||||||||||||||||||
Interest rate | 2,090 | 2 | 50 | (63 | ) | (427 | ) | (119 | ) | 1,533 | (49 | ) | |||||||||||||||||||||
Credit | 244 | (124 | ) | 164 | (21 | ) | (79 | ) | (50 | ) | 134 | (91 | ) | ||||||||||||||||||||
Foreign exchange | (1,282 | ) | (143 | ) | 33 | (3 | ) | 206 | (5 | ) | (1,194 | ) | (141 | ) | |||||||||||||||||||
Equity | (1,060 | ) | (774 | ) | 46 | (521 | ) | 327 | (224 | ) | (2,206 | ) | (204 | ) | |||||||||||||||||||
Commodity | (58 | ) | (18 | ) | — | — | 29 | (75 | ) | (122 | ) | 16 | |||||||||||||||||||||
Total net derivative receivables | (66 | ) | (1,057 | ) | (c) | 293 | (608 | ) | 56 | (473 | ) | (1,855 | ) | (469 | ) | (c) | |||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||||||
Asset-backed securities | 1,127 | (9 | ) | 225 | — | (21 | ) | — | 1,322 | (9 | ) | ||||||||||||||||||||||
Other | 1,190 | 1 | 122 | — | (27 | ) | (772 | ) | 514 | 2 | |||||||||||||||||||||||
Total available-for-sale securities | 2,317 | (8 | ) | (d) | 347 | — | (48 | ) | (772 | ) | 1,836 | (7 | ) | (d) | |||||||||||||||||||
Loans | 2,271 | 40 | (c) | 2,396 | — | (480 | ) | — | 4,227 | 21 | (c) | ||||||||||||||||||||||
Mortgage servicing rights | 8,552 | (149 | ) | (e) | 181 | 2 | (239 | ) | — | 8,347 | (149 | ) | (e) | ||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||
Private equity investments | 5,335 | 168 | (c) | 22 | (469 | ) | (132 | ) | (41 | ) | 4,883 | 131 | (c) | ||||||||||||||||||||
All other | 2,984 | 47 | (f) | 62 | (117 | ) | (200 | ) | — | 2,776 | 47 | (f) | |||||||||||||||||||||
Fair value measurements using significant unobservable inputs | |||||||||||||||||||||||||||||||||
Three months ended June 30, 2014 | Fair value at April 1, 2014 | Total realized/unrealized (gains)/losses | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized (gains)/losses related | ||||||||||||||||||||||||||||
(in millions) | Purchases | Sales | Issuances | Settlements | 30-Jun-14 | to financial instruments held at June 30, 2014 | |||||||||||||||||||||||||||
Liabilities:(b) | |||||||||||||||||||||||||||||||||
Deposits | $ | 2,386 | $ | 74 | (c) | $ | — | $ | — | $ | 519 | $ | (24 | ) | $ | (117 | ) | $ | 2,838 | $ | 63 | (c) | |||||||||||
Other borrowed funds | 1,535 | (132 | ) | (c) | — | — | 1,343 | (1,380 | ) | 172 | 1,538 | (30 | ) | (c) | |||||||||||||||||||
Trading liabilities – debt and equity instruments | 101 | (4 | ) | (c) | (46 | ) | 71 | — | (4 | ) | (38 | ) | 80 | 1 | (c) | ||||||||||||||||||
Accounts payable and other liabilities | 18 | 27 | (c) | — | — | — | — | — | 45 | 27 | (c) | ||||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | 1,160 | 54 | (c) | — | — | 4 | (54 | ) | (102 | ) | 1,062 | 58 | (c) | ||||||||||||||||||||
Long-term debt | 11,203 | 437 | (c) | — | — | 1,912 | (1,369 | ) | (437 | ) | 11,746 | 410 | (c) | ||||||||||||||||||||
Fair value measurements using significant unobservable inputs | |||||||||||||||||||||||||||||||||
Three months ended June 30, 2013 | Fair value at April 1, 2013 | Total realized/unrealized gains/(losses) | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized gains/(losses) related | ||||||||||||||||||||||||||||
(in millions) | 30-Jun-13 | to financial instruments held at June 30, 2013 | |||||||||||||||||||||||||||||||
Purchases(g) | Sales | Settlements | |||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||
Trading assets: | |||||||||||||||||||||||||||||||||
Debt instruments: | |||||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||||
U.S. government agencies | $ | 819 | $ | 106 | $ | 2 | $ | — | $ | (26 | ) | $ | — | $ | 901 | $ | 114 | ||||||||||||||||
Residential – nonagency | 633 | 203 | 135 | (336 | ) | (20 | ) | — | 615 | 135 | |||||||||||||||||||||||
Commercial – nonagency | 1,151 | (39 | ) | 302 | (113 | ) | (30 | ) | — | 1,271 | (49 | ) | |||||||||||||||||||||
Total mortgage-backed securities | 2,603 | 270 | 439 | (449 | ) | (76 | ) | — | 2,787 | 200 | |||||||||||||||||||||||
Obligations of U.S. states and municipalities | 1,432 | (23 | ) | 52 | (37 | ) | (203 | ) | — | 1,221 | (22 | ) | |||||||||||||||||||||
Non-U.S. government debt securities | 85 | 9 | 333 | (397 | ) | (4 | ) | 110 | 136 | 11 | |||||||||||||||||||||||
Corporate debt securities | 4,852 | (41 | ) | 2,251 | (955 | ) | (822 | ) | 450 | 5,735 | 28 | ||||||||||||||||||||||
Loans | 10,032 | 41 | 3,782 | (2,265 | ) | (688 | ) | 38 | 10,940 | 21 | |||||||||||||||||||||||
Asset-backed securities | 1,579 | 95 | 444 | (557 | ) | (12 | ) | (121 | ) | 1,428 | 56 | ||||||||||||||||||||||
Total debt instruments | 20,583 | 351 | 7,301 | (4,660 | ) | (1,805 | ) | 477 | 22,247 | 294 | |||||||||||||||||||||||
Equity securities | 1,172 | (10 | ) | 111 | (57 | ) | (56 | ) | (121 | ) | 1,039 | (8 | ) | ||||||||||||||||||||
Physical commodities | — | — | — | — | — | 16 | 16 | — | |||||||||||||||||||||||||
Other | 948 | 43 | 54 | (18 | ) | (52 | ) | 130 | 1,105 | 38 | |||||||||||||||||||||||
Total trading assets – debt and equity instruments | 22,703 | 384 | (c) | 7,466 | (4,735 | ) | (1,913 | ) | 502 | 24,407 | 324 | (c) | |||||||||||||||||||||
Net derivative receivables:(a) | |||||||||||||||||||||||||||||||||
Interest rate | 2,791 | 125 | 46 | (63 | ) | (989 | ) | 191 | 2,101 | 156 | |||||||||||||||||||||||
Credit | 1,317 | (335 | ) | 3 | (1 | ) | (76 | ) | 13 | 921 | (360 | ) | |||||||||||||||||||||
Foreign exchange | (1,516 | ) | 161 | 8 | — | 137 | (8 | ) | (1,218 | ) | 71 | ||||||||||||||||||||||
Equity | (1,000 | ) | (323 | ) | (i) | 465 | (i) | (568 | ) | (i) | (588 | ) | (277 | ) | (2,291 | ) | 654 | ||||||||||||||||
Commodity | 182 | 295 | — | — | (412 | ) | 6 | 71 | 63 | ||||||||||||||||||||||||
Total net derivative receivables | 1,774 | (77 | ) | (c) | 522 | (632 | ) | (1,928 | ) | (75 | ) | (416 | ) | 584 | (c) | ||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||||||
Asset-backed securities | 1,130 | — | — | — | (5 | ) | — | 1,125 | — | ||||||||||||||||||||||||
Other | 837 | — | 7 | — | (20 | ) | — | 824 | — | ||||||||||||||||||||||||
Total available-for-sale securities | 1,967 | — | (d) | 7 | — | (25 | ) | — | 1,949 | — | (d) | ||||||||||||||||||||||
Loans | 2,064 | 6 | (c) | 103 | (7 | ) | (323 | ) | — | 1,843 | 9 | (c) | |||||||||||||||||||||
Mortgage servicing rights | 7,949 | 1,038 | (e) | 655 | (19 | ) | (288 | ) | — | 9,335 | 1,038 | (e) | |||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||
Private equity investments | 6,831 | 434 | (c) | 122 | (7 | ) | (275 | ) | — | 7,105 | 206 | (c) | |||||||||||||||||||||
All other | 3,985 | 1 | (f) | 83 | (292 | ) | (97 | ) | — | 3,680 | (11 | ) | (f) | ||||||||||||||||||||
Fair value measurements using significant unobservable inputs | |||||||||||||||||||||||||||||||||
Three months ended June 30, 2013 | Fair value at April 1, 2013 | Total realized/unrealized (gains)/losses | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized (gains)/ | ||||||||||||||||||||||||||||
(in millions) | 30-Jun-13 | losses related | |||||||||||||||||||||||||||||||
Purchases | Sales | Issuances | Settlements | to financial instruments held at June 30, 2013 | |||||||||||||||||||||||||||||
Liabilities:(b) | |||||||||||||||||||||||||||||||||
Deposits | $ | 2,015 | $ | (110 | ) | (c) | $ | — | $ | — | $ | 316 | $ | (44 | ) | $ | 13 | $ | 2,190 | $ | (110 | ) | (c) | ||||||||||
Other borrowed funds | 2,137 | (243 | ) | (c) | — | — | 2,389 | (1,695 | ) | 85 | 2,673 | 33 | (c) | ||||||||||||||||||||
Trading liabilities – debt and equity instruments | 251 | (60 | ) | (c) | (374 | ) | 454 | — | (21 | ) | (146 | ) | 104 | (48 | ) | (c) | |||||||||||||||||
Accounts payable and other liabilities | 33 | — | — | — | — | (1 | ) | — | 32 | — | |||||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | 818 | 59 | (c) | — | — | 30 | (44 | ) | — | 863 | 54 | (c) | |||||||||||||||||||||
Long-term debt | 9,084 | (430 | ) | (c) | — | — | 1,878 | (1,246 | ) | (84 | ) | 9,202 | (292 | ) | (c) | ||||||||||||||||||
Fair value measurements using significant unobservable inputs | |||||||||||||||||||||||||||||||||
Six months ended | Fair value at January 1, 2014 | Total realized/unrealized gains/(losses) | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized gains/(losses) related | ||||||||||||||||||||||||||||
30-Jun-14 | 30-Jun-14 | to financial instruments held at June 30, 2014 | |||||||||||||||||||||||||||||||
(in millions) | Purchases(g) | Sales | Settlements | ||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||
Trading assets: | |||||||||||||||||||||||||||||||||
Debt instruments: | |||||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||||
U.S. government agencies | $ | 1,005 | $ | 30 | $ | 343 | $ | (174 | ) | $ | (60 | ) | $ | (19 | ) | $ | 1,125 | $ | 32 | ||||||||||||||
Residential – nonagency | 726 | 91 | 373 | (514 | ) | (24 | ) | (109 | ) | 543 | 29 | ||||||||||||||||||||||
Commercial – nonagency | 432 | 28 | 581 | (481 | ) | (48 | ) | (185 | ) | 327 | 4 | ||||||||||||||||||||||
Total mortgage-backed securities | 2,163 | 149 | 1,297 | (1,169 | ) | (132 | ) | (313 | ) | 1,995 | 65 | ||||||||||||||||||||||
Obligations of U.S. states and municipalities | 1,382 | (13 | ) | — | (290 | ) | — | — | 1,079 | 7 | |||||||||||||||||||||||
Non-U.S. government debt securities | 143 | 19 | 435 | (519 | ) | (2 | ) | 52 | 128 | 24 | |||||||||||||||||||||||
Corporate debt securities | 5,920 | 368 | 2,360 | (2,015 | ) | (1,664 | ) | (176 | ) | 4,793 | 280 | ||||||||||||||||||||||
Loans | 13,455 | 691 | 5,287 | (2,902 | ) | (2,718 | ) | (292 | ) | 13,521 | 882 | ||||||||||||||||||||||
Asset-backed securities | 1,272 | 70 | 1,357 | (1,332 | ) | (171 | ) | 20 | 1,216 | 43 | |||||||||||||||||||||||
Total debt instruments | 24,335 | 1,284 | 10,736 | (8,227 | ) | (4,687 | ) | (709 | ) | 22,732 | 1,301 | ||||||||||||||||||||||
Equity securities | 885 | 99 | 85 | (75 | ) | (34 | ) | (256 | ) | 704 | 147 | ||||||||||||||||||||||
Physical commodities | 4 | — | — | — | (1 | ) | — | 3 | — | ||||||||||||||||||||||||
Other | 2,000 | 169 | 710 | (178 | ) | (95 | ) | (265 | ) | 2,341 | 146 | ||||||||||||||||||||||
Total trading assets – debt and equity instruments | 27,224 | 1,552 | (c) | 11,531 | (8,480 | ) | (4,817 | ) | (1,230 | ) | 25,780 | 1,594 | (c) | ||||||||||||||||||||
Net derivative receivables:(a) | |||||||||||||||||||||||||||||||||
Interest rate | 2,379 | 26 | 98 | (106 | ) | (765 | ) | (99 | ) | 1,533 | (690 | ) | |||||||||||||||||||||
Credit | 95 | (239 | ) | 222 | (21 | ) | 127 | (50 | ) | 134 | (186 | ) | |||||||||||||||||||||
Foreign exchange | (1,200 | ) | (342 | ) | 94 | (19 | ) | 255 | 18 | (1,194 | ) | (291 | ) | ||||||||||||||||||||
Equity | (1,063 | ) | (703 | ) | 847 | (1,554 | ) | 452 | (185 | ) | (2,206 | ) | 343 | ||||||||||||||||||||
Commodity | 115 | (172 | ) | 1 | — | (13 | ) | (53 | ) | (122 | ) | (156 | ) | ||||||||||||||||||||
Total net derivative receivables | 326 | (1,430 | ) | (c) | 1,262 | (1,700 | ) | 56 | (369 | ) | (1,855 | ) | (980 | ) | (c) | ||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||||||
Asset-backed securities | 1,088 | (11 | ) | 225 | (2 | ) | (41 | ) | 63 | 1,322 | (11 | ) | |||||||||||||||||||||
Other | 1,234 | (2 | ) | 122 | — | (68 | ) | (772 | ) | 514 | (1 | ) | |||||||||||||||||||||
Total available-for-sale securities | 2,322 | (13 | ) | (d) | 347 | (2 | ) | (109 | ) | (709 | ) | 1,836 | (12 | ) | (d) | ||||||||||||||||||
Loans | 1,931 | 72 | (c) | 3,080 | (142 | ) | (714 | ) | — | 4,227 | 47 | (c) | |||||||||||||||||||||
Mortgage servicing rights | 9,614 | (971 | ) | (e) | 376 | (186 | ) | (486 | ) | — | 8,347 | (971 | ) | (e) | |||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||
Private equity investments | 6,474 | 264 | (c) | 109 | (1,487 | ) | (436 | ) | (41 | ) | 4,883 | 119 | (c) | ||||||||||||||||||||
All other | 3,176 | (26 | ) | (f) | 135 | (154 | ) | (355 | ) | — | 2,776 | (26 | ) | (f) | |||||||||||||||||||
Fair value measurements using significant unobservable inputs | |||||||||||||||||||||||||||||||||
Six months ended | Fair value at January 1, 2014 | Total realized/unrealized (gains)/losses | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized (gains)/losses related | ||||||||||||||||||||||||||||
30-Jun-14 | 30-Jun-14 | to financial instruments held at June 30, 2014 | |||||||||||||||||||||||||||||||
(in millions) | Purchases | Sales | Issuances | Settlements | |||||||||||||||||||||||||||||
Liabilities:(b) | |||||||||||||||||||||||||||||||||
Deposits | $ | 2,255 | $ | 111 | (c) | $ | — | $ | — | $ | 809 | $ | (66 | ) | $ | (271 | ) | $ | 2,838 | $ | 98 | (c) | |||||||||||
Other borrowed funds | 2,074 | (93 | ) | (c) | — | — | 2,676 | (3,487 | ) | 368 | 1,538 | 84 | (c) | ||||||||||||||||||||
Trading liabilities – debt and equity instruments | 113 | (4 | ) | (c) | (262 | ) | 279 | — | (8 | ) | (38 | ) | 80 | 1 | (c) | ||||||||||||||||||
Accounts payable and other liabilities | 25 | 27 | (c) | — | — | — | (7 | ) | — | 45 | 27 | (c) | |||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | 1,240 | 101 | (c) | — | — | 82 | (259 | ) | (102 | ) | 1,062 | 88 | (c) | ||||||||||||||||||||
Long-term debt | 10,008 | 539 | (c) | — | — | 3,744 | (2,379 | ) | (166 | ) | 11,746 | 585 | (c) | ||||||||||||||||||||
Fair value measurements using significant unobservable inputs | |||||||||||||||||||||||||||||||||
Six months ended | Fair value at January 1, 2013 | Total realized/unrealized gains/(losses) | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized gains/(losses) related | ||||||||||||||||||||||||||||
30-Jun-13 | 30-Jun-13 | to financial instruments held at June 30, 2013 | |||||||||||||||||||||||||||||||
(in millions) | Purchases(g) | Sales | Settlements | ||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||
Trading assets: | |||||||||||||||||||||||||||||||||
Debt instruments: | |||||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||||
U.S. government agencies | $ | 498 | $ | 140 | $ | 393 | $ | (79 | ) | $ | (51 | ) | $ | — | $ | 901 | $ | 153 | |||||||||||||||
Residential – nonagency | 663 | 312 | 434 | (740 | ) | (49 | ) | (5 | ) | 615 | 177 | ||||||||||||||||||||||
Commercial – nonagency | 1,207 | (125 | ) | 439 | (178 | ) | (72 | ) | — | 1,271 | (142 | ) | |||||||||||||||||||||
Total mortgage-backed securities | 2,368 | 327 | 1,266 | (997 | ) | (172 | ) | (5 | ) | 2,787 | 188 | ||||||||||||||||||||||
Obligations of U.S. states and municipalities | 1,436 | 18 | 53 | (83 | ) | (203 | ) | — | 1,221 | 17 | |||||||||||||||||||||||
Non-U.S. government debt securities | 67 | 11 | 634 | (682 | ) | (4 | ) | 110 | 136 | 11 | |||||||||||||||||||||||
Corporate debt securities | 5,308 | (124 | ) | 5,178 | (3,518 | ) | (1,447 | ) | 338 | 5,735 | 30 | ||||||||||||||||||||||
Loans | 10,787 | (131 | ) | 5,408 | (3,750 | ) | (1,391 | ) | 17 | 10,940 | (229 | ) | |||||||||||||||||||||
Asset-backed securities | 3,696 | 159 | 1,040 | (1,534 | ) | (147 | ) | (1,786 | ) | 1,428 | 74 | ||||||||||||||||||||||
Total debt instruments | 23,662 | 260 | 13,579 | (10,564 | ) | (3,364 | ) | (1,326 | ) | 22,247 | 91 | ||||||||||||||||||||||
Equity securities | 1,114 | (9 | ) | 204 | (148 | ) | (65 | ) | (57 | ) | 1,039 | (28 | ) | ||||||||||||||||||||
Physical commodities | — | — | — | — | — | 16 | 16 | — | |||||||||||||||||||||||||
Other | 863 | 87 | 126 | (20 | ) | (81 | ) | 130 | 1,105 | 139 | |||||||||||||||||||||||
Total trading assets – debt and equity instruments | 25,639 | 338 | (c) | 13,909 | (10,732 | ) | (3,510 | ) | (1,237 | ) | 24,407 | 202 | (c) | ||||||||||||||||||||
Net derivative receivables:(a) | |||||||||||||||||||||||||||||||||
Interest rate | 3,322 | 431 | 115 | (125 | ) | (1,847 | ) | 205 | 2,101 | 45 | |||||||||||||||||||||||
Credit | 1,873 | (824 | ) | 50 | (1 | ) | (189 | ) | 12 | 921 | (836 | ) | |||||||||||||||||||||
Foreign exchange | (1,750 | ) | 45 | (7 | ) | (3 | ) | 513 | (16 | ) | (1,218 | ) | (5 | ) | |||||||||||||||||||
Equity | (1,806 | ) | 539 | (i) | 536 | (i) | (647 | ) | (i) | (810 | ) | (103 | ) | (2,291 | ) | 604 | |||||||||||||||||
Commodity | 254 | 653 | 11 | (3 | ) | (854 | ) | 10 | 71 | 240 | |||||||||||||||||||||||
Total net derivative receivables | 1,893 | 844 | (c) | 705 | (779 | ) | (3,187 | ) | 108 | (416 | ) | 48 | (c) | ||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||||||
Asset-backed securities | 28,024 | 5 | 400 | — | (44 | ) | (27,260 | ) | 1,125 | 5 | |||||||||||||||||||||||
Other | 892 | (9 | ) | 7 | (13 | ) | (53 | ) | — | 824 | 3 | ||||||||||||||||||||||
Total available-for-sale securities | 28,916 | (4 | ) | (d) | 407 | (13 | ) | (97 | ) | (27,260 | ) | 1,949 | 8 | (d) | |||||||||||||||||||
Loans | 2,282 | (29 | ) | (c) | 328 | (56 | ) | (682 | ) | — | 1,843 | (43 | ) | (c) | |||||||||||||||||||
Mortgage servicing rights | 7,614 | 1,347 | (e) | 1,339 | (418 | ) | (547 | ) | — | 9,335 | 1,347 | (e) | |||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||
Private equity investments | 7,181 | 165 | (c) | 203 | (103 | ) | (341 | ) | — | 7,105 | (188 | ) | (c) | ||||||||||||||||||||
All other | 4,258 | (25 | ) | (f) | 135 | (295 | ) | (393 | ) | — | 3,680 | (41 | ) | (f) | |||||||||||||||||||
Fair value measurements using significant unobservable inputs | |||||||||||||||||||||||||||||||||
Six months ended | Fair value at January 1, 2013 | Total realized/unrealized (gains)/losses | Transfers into and/or out of level 3(h) | Fair value at | Change in unrealized (gains)/losses related | ||||||||||||||||||||||||||||
30-Jun-13 | 30-Jun-13 | to financial instruments held at June 30, 2013 | |||||||||||||||||||||||||||||||
(in millions) | Purchases | Sales | Issuances | Settlements | |||||||||||||||||||||||||||||
Liabilities:(b) | |||||||||||||||||||||||||||||||||
Deposits | $ | 1,983 | $ | (105 | ) | (c) | $ | — | $ | — | $ | 612 | $ | (157 | ) | $ | (143 | ) | $ | 2,190 | $ | (97 | ) | (c) | |||||||||
Other borrowed funds | 1,619 | (269 | ) | (c) | — | — | 4,151 | (2,919 | ) | 91 | 2,673 | 74 | (c) | ||||||||||||||||||||
Trading liabilities – debt and equity instruments | 205 | (68 | ) | (c) | (1,859 | ) | 2,006 | — | (34 | ) | (146 | ) | 104 | (78 | ) | (c) | |||||||||||||||||
Accounts payable and other liabilities | 36 | 1 | (f) | — | — | — | (5 | ) | — | 32 | 1 | (f) | |||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | 925 | 25 | (c) | — | — | 51 | (138 | ) | — | 863 | 26 | (c) | |||||||||||||||||||||
Long-term debt | 8,476 | (905 | ) | (c) | — | — | 3,733 | (1,603 | ) | (499 | ) | 9,202 | (321 | ) | (c) | ||||||||||||||||||
(a) | All level 3 derivatives are presented on a net basis, irrespective of the 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 16% and 18% at June 30, 2014, and December 31, 2013, 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 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 $(11) million and $3 million for the three months ended June 30, 2014 and 2013, and $(12) million and $(15) million for the six months ended June 30, 2014 and 2013, respectively. Unrealized gains/(losses) recorded on AFS securities in OCI were $3 million and $(3) million for the three months ended June 30, 2014 and 2013 and $(1) million and $11 million for the six months ended June 30, 2014 and 2013, respectively. | ||||||||||||||||||||||||||||||||
(e) | Changes in fair value for CCB mortgage servicing rights are reported in mortgage fees and related income. | ||||||||||||||||||||||||||||||||
(f) | Predominantly 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. | ||||||||||||||||||||||||||||||||
(i) | The prior period amounts have been revised. The revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | ||||||||||||||||||||||||||||||||
Credit adjustments | ' | ||||||||||||||||||||||||||||||||
The following table provides the credit and funding adjustments, excluding the effect of any associated hedging activities, reflected within the Consolidated Balance Sheets as of the dates indicated. | |||||||||||||||||||||||||||||||||
(in millions) | Jun 30, 2014 | Dec 31, 2013 | |||||||||||||||||||||||||||||||
Derivative receivables balance(a) | $ | 62,378 | $ | 65,759 | |||||||||||||||||||||||||||||
Derivative payables balance(a) | 50,795 | 57,314 | |||||||||||||||||||||||||||||||
Derivatives CVA(b)(c) | (2,099 | ) | (2,352 | ) | |||||||||||||||||||||||||||||
Derivatives DVA and FVA(b)(d) | (483 | ) | (322 | ) | |||||||||||||||||||||||||||||
Structured notes balance(a)(e) | 54,467 | 48,808 | |||||||||||||||||||||||||||||||
Structured notes DVA and FVA(b)(f) | 1,131 | 952 | |||||||||||||||||||||||||||||||
(a) | Balances are presented net of applicable credit valuation adjustments (“CVA”) and debit valuation adjustments (“DVA”)/funding valuation adjustments (“FVA”). | ||||||||||||||||||||||||||||||||
(b) | Positive CVA and DVA/FVA represent amounts that increased receivable balances or decreased payable balances; negative CVA and DVA/FVA represent amounts that decreased receivable balances or increased payable balances. | ||||||||||||||||||||||||||||||||
(c) | Derivatives CVA includes results managed by the credit portfolio group and other businesses. | ||||||||||||||||||||||||||||||||
(d) | At June 30, 2014, and December 31, 2013, included derivatives DVA of $620 million and $715 million, respectively. | ||||||||||||||||||||||||||||||||
(e) | Structured notes are predominantly financial instruments containing embedded derivatives that are measured at fair value based on the Firm’s election under the fair value option. At June 30, 2014, and December 31, 2013, included $1.2 billion and $1.1 billion, respectively, of financial instruments with no embedded derivative for which the fair value option has also been elected. For further information on these elections, see Note 4. | ||||||||||||||||||||||||||||||||
(f) | At June 30, 2014, and December 31, 2013 included structured notes DVA of $1.4 billion and $1.4 billion, respectively. | ||||||||||||||||||||||||||||||||
Impact of credit adjustments on earnings | ' | ||||||||||||||||||||||||||||||||
The following table provides the impact of credit adjustments on Principal transactions revenue in the respective periods, excluding the effect of any associated hedging activities. | |||||||||||||||||||||||||||||||||
Three months ended June 30, | Six months | ||||||||||||||||||||||||||||||||
ended June 30, | |||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
Credit adjustments: | |||||||||||||||||||||||||||||||||
Derivative CVA(a) | $ | 272 | $ | 549 | $ | 253 | $ | 881 | |||||||||||||||||||||||||
Derivative DVA and FVA(b) | (36 | ) | 104 | (161 | ) | 99 | |||||||||||||||||||||||||||
Structured note DVA and FVA(c) | 162 | 251 | 179 | 382 | |||||||||||||||||||||||||||||
(a) | Derivatives CVA includes results managed by the credit portfolio group and other businesses. | ||||||||||||||||||||||||||||||||
(b) | Included derivatives DVA of $(1) million and $104 million for the three months ended June 30, 2014 and 2013 and $(95) million and $99 million for the six months ended June 30, 2014 and 2013, respectively. | ||||||||||||||||||||||||||||||||
(c) | Included structured notes DVA of $134 million and $251 million for the three months ended June 30, 2014 and 2013 and $19 million and $382 million for the six months ended June 30, 2014 and 2013, respectively. | ||||||||||||||||||||||||||||||||
Carrying value and estimated fair value of financial assets and liabilities | ' | ||||||||||||||||||||||||||||||||
The following table presents the carrying values and estimated fair values at June 30, 2014, and December 31, 2013, 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 Note 3 of JPMorgan Chase’s 2013 Annual Report. | |||||||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||
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 | $ | 27.5 | $ | 27.5 | $ | — | $ | — | $ | 27.5 | $ | 39.8 | $ | 39.8 | $ | — | $ | — | $ | 39.8 | |||||||||||||
Deposits with banks | 393.9 | 387.3 | 6.6 | — | 393.9 | 316.1 | 309.7 | 6.4 | — | 316.1 | |||||||||||||||||||||||
Accrued interest and accounts receivable | 77.1 | — | 76.9 | 0.2 | 77.1 | 65.2 | — | 64.9 | 0.3 | 65.2 | |||||||||||||||||||||||
Federal funds sold and securities purchased under resale agreements | 220.3 | — | 220.3 | — | 220.3 | 223 | — | 223 | — | 223 | |||||||||||||||||||||||
Securities borrowed | 111.8 | — | 111.8 | — | 111.8 | 107.7 | — | 107.7 | — | 107.7 | |||||||||||||||||||||||
Securities, held-to-maturity(a) | 47.8 | — | 49.2 | — | 49.2 | 24 | — | 23.7 | — | 23.7 | |||||||||||||||||||||||
Loans, net of allowance for loan losses(b) | 727.4 | — | 18.2 | 713.5 | 731.7 | 720.1 | — | 23 | 697.2 | 720.2 | |||||||||||||||||||||||
Other(c) | 52.8 | — | 49.8 | 6.7 | 56.5 | 58.2 | — | 54.5 | 7.4 | 61.9 | |||||||||||||||||||||||
Financial liabilities | |||||||||||||||||||||||||||||||||
Deposits | $ | 1,311.80 | $ | — | $ | 1,310.90 | $ | 1.2 | $ | 1,312.10 | $ | 1,281.10 | $ | — | $ | 1,280.30 | $ | 1.2 | $ | 1,281.50 | |||||||||||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 213.9 | — | 213.9 | — | 213.9 | 175.7 | — | 175.7 | — | 175.7 | |||||||||||||||||||||||
Commercial paper | 63.8 | — | 63.8 | — | 63.8 | 57.8 | — | 57.8 | — | 57.8 | |||||||||||||||||||||||
Other borrowed funds | 19.3 | 19.3 | — | 19.3 | 14.7 | — | 14.7 | — | 14.7 | ||||||||||||||||||||||||
Accounts payable and other liabilities | 175.2 | — | 172.5 | 2.6 | 175.1 | 160.2 | — | 158.2 | 1.8 | 160 | |||||||||||||||||||||||
Beneficial interests issued by consolidated VIEs | 43.6 | — | 40.6 | 3 | 43.6 | 47.6 | — | 44.3 | 3.2 | 47.5 | |||||||||||||||||||||||
Long-term debt and junior subordinated deferrable interest debentures(d) | 238.8 | — | 242.7 | 3.4 | 246.1 | 239 | — | 240.8 | 6 | 246.8 | |||||||||||||||||||||||
(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 197–215 of JPMorgan Chase’s 2013 Annual Report and pages 96–109 of this Note. | ||||||||||||||||||||||||||||||||
(c) | Current period numbers have been updated to include certain nonmarketable equity securities. Prior period amounts have been revised to conform to the current presentation. | ||||||||||||||||||||||||||||||||
(d) | Carrying value includes unamortized original issue discount and other valuation adjustments. | ||||||||||||||||||||||||||||||||
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. | |||||||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||
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 | $ | 0.6 | $ | — | $ | — | $ | 0.8 | $ | 0.8 | $ | 0.7 | $ | — | $ | — | $ | 1 | $ | 1 | |||||||||||||
(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. | |||||||||||||||||||||||||||||||||
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
Trading assets – debt and equity instruments | $ | 325,426 | $ | 357,285 | $ | 320,197 | $ | 363,952 | |||||||||||||||||||||||||
Trading assets – derivative receivables | 60,830 | 75,310 | 62,814 | 75,115 | |||||||||||||||||||||||||||||
Trading liabilities – debt and equity instruments(a) | 85,123 | 75,671 | 85,230 | 73,103 | |||||||||||||||||||||||||||||
Trading liabilities – derivative payables | 49,487 | 66,246 | 51,305 | 67,458 | |||||||||||||||||||||||||||||
(a) | Primarily represent securities sold, not yet purchased. |
Fair_Value_Option_Tables
Fair Value Option (Tables) | 6 Months Ended | |||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||
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 three and six months ended June 30, 2014 and 2013, 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. | ||||||||||||||||||||||||||
Three months ended June 30, | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
(in millions) | 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 | $ | 96 | $ | — | $ | 96 | $ | (287 | ) | $ | — | $ | (287 | ) | ||||||||||||
Securities borrowed | (2 | ) | — | (2 | ) | (8 | ) | — | (8 | ) | ||||||||||||||||
Trading assets: | ||||||||||||||||||||||||||
Debt and equity instruments, excluding loans | 245 | 3 | (b) | 248 | (14 | ) | 4 | (b) | (10 | ) | ||||||||||||||||
Loans reported as trading assets: | ||||||||||||||||||||||||||
Changes in instrument-specific credit risk | 391 | 3 | (b) | 394 | 211 | 26 | (b) | 237 | ||||||||||||||||||
Other changes in fair value | 38 | 400 | (b) | 438 | (94 | ) | 253 | (b) | 159 | |||||||||||||||||
Loans: | ||||||||||||||||||||||||||
Changes in instrument-specific credit risk | 20 | — | 20 | (1 | ) | — | (1 | ) | ||||||||||||||||||
Other changes in fair value | 24 | — | 24 | 21 | — | 21 | ||||||||||||||||||||
Other assets | 7 | (30 | ) | (c) | (23 | ) | 22 | (20 | ) | (c) | 2 | |||||||||||||||
Deposits(a) | (107 | ) | — | (107 | ) | 219 | — | 219 | ||||||||||||||||||
Federal funds purchased and securities loaned or sold under repurchase agreements | (18 | ) | — | (18 | ) | 41 | — | 41 | ||||||||||||||||||
Other borrowed funds(a) | (911 | ) | — | (911 | ) | 734 | — | 734 | ||||||||||||||||||
Trading liabilities | (3 | ) | — | (3 | ) | (14 | ) | — | (14 | ) | ||||||||||||||||
Beneficial interests issued by consolidated VIEs | (48 | ) | — | (48 | ) | (69 | ) | — | (69 | ) | ||||||||||||||||
Other liabilities | (27 | ) | — | (27 | ) | — | — | — | ||||||||||||||||||
Long-term debt: | ||||||||||||||||||||||||||
Changes in instrument-specific credit risk(a) | 82 | — | 82 | 159 | — | 159 | ||||||||||||||||||||
Other changes in fair value | (773 | ) | — | (773 | ) | 1,000 | — | 1,000 | ||||||||||||||||||
Six months ended June 30, | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
(in millions) | 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 | $ | 56 | $ | — | $ | 56 | $ | (358 | ) | $ | — | $ | (358 | ) | ||||||||||||
Securities borrowed | (5 | ) | — | (5 | ) | 18 | — | 18 | ||||||||||||||||||
Trading assets: | ||||||||||||||||||||||||||
Debt and equity instruments, excluding loans | 475 | 1 | (b) | 476 | 242 | 7 | (b) | 249 | ||||||||||||||||||
Loans reported as trading assets: | ||||||||||||||||||||||||||
Changes in instrument-specific credit risk | 754 | 12 | (b) | 766 | 539 | 38 | (b) | 577 | ||||||||||||||||||
Other changes in fair value | 102 | 692 | (b) | 794 | (78 | ) | 1,205 | (b) | 1,127 | |||||||||||||||||
Loans: | ||||||||||||||||||||||||||
Changes in instrument-specific credit risk | 28 | — | 28 | (6 | ) | — | (6 | ) | ||||||||||||||||||
Other changes in fair value | 31 | — | 31 | 21 | — | 21 | ||||||||||||||||||||
Other assets | 12 | (142 | ) | (c) | (130 | ) | 21 | (89 | ) | (c) | (68 | ) | ||||||||||||||
Deposits(a) | (211 | ) | — | (211 | ) | 297 | — | 297 | ||||||||||||||||||
Federal funds purchased and securities loaned or sold under repurchase agreements | (34 | ) | — | (34 | ) | 45 | — | 45 | ||||||||||||||||||
Other borrowed funds(a) | (1,171 | ) | — | (1,171 | ) | 380 | — | 380 | ||||||||||||||||||
Trading liabilities | (9 | ) | — | (9 | ) | (32 | ) | — | (32 | ) | ||||||||||||||||
Beneficial interests issued by consolidated VIEs | (137 | ) | — | (137 | ) | (97 | ) | — | (97 | ) | ||||||||||||||||
Other liabilities | (27 | ) | — | (27 | ) | — | (1 | ) | (c) | (1 | ) | |||||||||||||||
Long-term debt: | ||||||||||||||||||||||||||
Changes in instrument-specific credit risk(a) | 5 | — | 5 | 192 | — | 192 | ||||||||||||||||||||
Other changes in fair value(b) | (791 | ) | — | (791 | ) | 969 | — | 969 | ||||||||||||||||||
(a) | Total changes in instrument-specific credit risk (DVA) related to structured notes were $134 million and $251 million for the three months ended June 30, 2014 and 2013 and $19 million and $382 million for the six months ended June 30, 2014 and 2013, respectively. These totals include such changes for structured notes classified within deposits and other borrowed funds, as well as long-term debt. | |||||||||||||||||||||||||
(b) | Reported in mortgage fees and related income. | |||||||||||||||||||||||||
(c) | 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 June 30, 2014, and December 31, 2013, for loans, long-term debt and long-term beneficial interests for which the fair value option has been elected. | ||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||
(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 | $ | 4,462 | $ | 1,270 | $ | (3,192 | ) | $ | 5,156 | $ | 1,491 | $ | (3,665 | ) | ||||||||||||
Loans | 214 | 154 | (60 | ) | 209 | 154 | (55 | ) | ||||||||||||||||||
Subtotal | 4,676 | 1,424 | (3,252 | ) | 5,365 | 1,645 | (3,720 | ) | ||||||||||||||||||
All other performing loans | ||||||||||||||||||||||||||
Loans reported as trading assets | 35,185 | 31,920 | (3,265 | ) | 33,069 | 29,295 | (3,774 | ) | ||||||||||||||||||
Loans | 3,934 | 3,877 | (57 | ) | 1,618 | 1,563 | (55 | ) | ||||||||||||||||||
Total loans | $ | 43,795 | $ | 37,221 | $ | (6,574 | ) | $ | 40,052 | $ | 32,503 | $ | (7,549 | ) | ||||||||||||
Long-term debt | ||||||||||||||||||||||||||
Principal-protected debt | $ | 15,634 | (c) | $ | 15,882 | $ | 248 | $ | 15,797 | (c) | $ | 15,909 | $ | 112 | ||||||||||||
Nonprincipal-protected debt(b) | NA | 15,260 | NA | NA | 12,969 | NA | ||||||||||||||||||||
Total long-term debt | NA | $ | 31,142 | NA | NA | $ | 28,878 | NA | ||||||||||||||||||
Long-term beneficial interests | ||||||||||||||||||||||||||
Nonprincipal-protected debt(b) | NA | $ | 2,094 | NA | NA | $ | 1,996 | NA | ||||||||||||||||||
Total long-term beneficial interests | NA | $ | 2,094 | NA | NA | $ | 1,996 | NA | ||||||||||||||||||
(a) | There were no performing loans that were ninety days or more past due as of June 30, 2014, and December 31, 2013. | |||||||||||||||||||||||||
(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. However, investors are exposed to the credit risk of the Firm as issuer for both nonprincipal-protected and principal protected notes. | |||||||||||||||||||||||||
(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. | |||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||
(in millions) | Long-term debt | Other borrowed funds | Deposits | Total | Long-term debt | Other borrowed funds | Deposits | Total | ||||||||||||||||||
Risk exposure | ||||||||||||||||||||||||||
Interest rate | $ | 10,505 | $ | 461 | $ | 1,735 | $ | 12,701 | $ | 9,516 | $ | 615 | $ | 1,270 | $ | 11,401 | ||||||||||
Credit | 4,429 | 124 | — | 4,553 | 4,248 | 13 | — | 4,261 | ||||||||||||||||||
Foreign exchange | 2,307 | 136 | 16 | 2,459 | 2,321 | 194 | 27 | 2,542 | ||||||||||||||||||
Equity | 12,512 | 13,510 | 4,184 | 30,206 | 11,082 | 11,936 | 3,736 | 26,754 | ||||||||||||||||||
Commodity | 1,154 | 589 | 1,570 | 3,313 | 1,260 | 310 | 1,133 | 2,703 | ||||||||||||||||||
Total structured notes | $ | 30,907 | $ | 14,820 | $ | 7,505 | $ | 53,232 | $ | 28,427 | $ | 13,068 | $ | 6,166 | $ | 47,661 | ||||||||||
Derivative_Instruments_Tables
Derivative Instruments (Tables) | 6 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||
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 June 30, 2014, and December 31, 2013. | |||||||||||||||||||||||||||||
Notional amounts(c) | |||||||||||||||||||||||||||||
(in billions) | June 30, | 31-Dec-13 | |||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Interest rate contracts | |||||||||||||||||||||||||||||
Swaps | $ | 30,929 | $ | 35,221 | |||||||||||||||||||||||||
Futures and forwards | 12,556 | 11,251 | |||||||||||||||||||||||||||
Written options(a) | 4,305 | 4,046 | |||||||||||||||||||||||||||
Purchased options | 4,704 | 4,187 | |||||||||||||||||||||||||||
Total interest rate contracts | 52,494 | 54,705 | |||||||||||||||||||||||||||
Credit derivatives(a)(b) | 5,100 | 5,331 | |||||||||||||||||||||||||||
Foreign exchange contracts | |||||||||||||||||||||||||||||
Cross-currency swaps | 3,680 | 3,488 | |||||||||||||||||||||||||||
Spot, futures and forwards | 4,310 | 3,773 | |||||||||||||||||||||||||||
Written options | 725 | 659 | |||||||||||||||||||||||||||
Purchased options | 716 | 652 | |||||||||||||||||||||||||||
Total foreign exchange contracts | 9,431 | 8,572 | |||||||||||||||||||||||||||
Equity contracts | |||||||||||||||||||||||||||||
Swaps(a) | 198 | 187 | |||||||||||||||||||||||||||
Futures and forwards(a) | 46 | 50 | |||||||||||||||||||||||||||
Written options | 474 | 425 | |||||||||||||||||||||||||||
Purchased options | 391 | 380 | |||||||||||||||||||||||||||
Total equity contracts | 1,109 | 1,042 | |||||||||||||||||||||||||||
Commodity contracts | |||||||||||||||||||||||||||||
Swaps | 130 | 124 | |||||||||||||||||||||||||||
Spot, futures and forwards | 218 | 234 | |||||||||||||||||||||||||||
Written options | 200 | 202 | |||||||||||||||||||||||||||
Purchased options | 196 | 203 | |||||||||||||||||||||||||||
Total commodity contracts | 744 | 763 | |||||||||||||||||||||||||||
Total derivative notional amounts | $ | 68,878 | $ | 70,413 | |||||||||||||||||||||||||
(a) | The prior period amount has been revised. This revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | ||||||||||||||||||||||||||||
(b) | For more information on volumes and types of credit derivative contracts, see the Credit derivatives discussion on page 123 of this Note. | ||||||||||||||||||||||||||||
(c) | Represents the sum of gross long and gross short third-party notional derivative contracts. | ||||||||||||||||||||||||||||
Schedule of derivative receivables and payables | ' | ||||||||||||||||||||||||||||
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 June 30, 2014, and December 31, 2013, 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 | ||||||||||||||||||||||||||||
30-Jun-14 | Not designated as hedges | Designated as hedges | Total derivative receivables | Net derivative receivables(b) | Not designated as hedges | Designated | Total derivative payables | Net derivative payables(b) | |||||||||||||||||||||
(in millions) | as hedges | ||||||||||||||||||||||||||||
Trading assets and liabilities | |||||||||||||||||||||||||||||
Interest rate | $ | 817,201 | $ | 3,100 | $ | 820,301 | $ | 28,829 | $ | 784,808 | $ | 2,410 | $ | 787,218 | $ | 15,089 | |||||||||||||
Credit | 81,052 | — | 81,052 | 2,964 | 79,556 | — | 79,556 | 2,832 | |||||||||||||||||||||
Foreign exchange | 112,243 | 1,008 | 113,251 | 11,625 | 113,357 | 1,327 | 114,684 | 11,682 | |||||||||||||||||||||
Equity | 49,794 | — | 49,794 | 9,377 | 53,524 | — | 53,524 | 11,024 | |||||||||||||||||||||
Commodity | 35,843 | 283 | 36,126 | 9,583 | 36,181 | 680 | 36,861 | 10,168 | |||||||||||||||||||||
Total fair value of trading assets and liabilities | $ | 1,096,133 | $ | 4,391 | $ | 1,100,524 | $ | 62,378 | $ | 1,067,426 | $ | 4,417 | $ | 1,071,843 | $ | 50,795 | |||||||||||||
Gross derivative receivables | Gross derivative payables | ||||||||||||||||||||||||||||
31-Dec-13 | Not designated as hedges | Designated as hedges | Total derivative receivables | Net derivative receivables(b) | Not designated as hedges | Designated | Total derivative payables | Net derivative payables(b) | |||||||||||||||||||||
(in millions) | as hedges | ||||||||||||||||||||||||||||
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 | |||||||||||||
(a) | Balances exclude structured notes for which the fair value option has been elected. See Note 4 for further information. | ||||||||||||||||||||||||||||
(b) | 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. | ||||||||||||||||||||||||||||
Offsetting assets | ' | ||||||||||||||||||||||||||||
The following table presents, as of June 30, 2014, and December 31, 2013, the gross and net derivative receivables by contract and settlement type. Derivative receivables have been netted on the Consolidated Balance Sheets against derivative payables and cash collateral 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 on the Consolidated Balance Sheets, and are shown separately in the table below. | |||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | ||||||||||||||||||||||||||||
(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”) | $ | 498,230 | $ | (475,647 | ) | $ | 22,583 | $ | 486,449 | $ | (466,493 | ) | $ | 19,956 | |||||||||||||||
OTC–cleared | 316,030 | (315,825 | ) | 205 | 362,426 | (362,404 | ) | 22 | |||||||||||||||||||||
Exchange traded(a) | — | — | — | — | — | — | |||||||||||||||||||||||
Total interest rate contracts | 814,260 | (791,472 | ) | 22,788 | 848,875 | (828,897 | ) | 19,978 | |||||||||||||||||||||
Credit contracts: | |||||||||||||||||||||||||||||
OTC | 69,143 | (68,041 | ) | 1,102 | 66,269 | (65,725 | ) | 544 | |||||||||||||||||||||
OTC–cleared | 11,422 | (10,047 | ) | 1,375 | 16,841 | (16,279 | ) | 562 | |||||||||||||||||||||
Total credit contracts | 80,565 | (78,088 | ) | 2,477 | 83,110 | (82,004 | ) | 1,106 | |||||||||||||||||||||
Foreign exchange contracts: | |||||||||||||||||||||||||||||
OTC | 110,256 | (101,578 | ) | 8,678 | 148,953 | (136,763 | ) | 12,190 | |||||||||||||||||||||
OTC–cleared | 48 | (48 | ) | — | 46 | (46 | ) | — | |||||||||||||||||||||
Exchange traded(a) | — | — | — | — | — | — | |||||||||||||||||||||||
Total foreign exchange contracts | 110,304 | (101,626 | ) | 8,678 | 148,999 | (136,809 | ) | 12,190 | |||||||||||||||||||||
Equity contracts: | |||||||||||||||||||||||||||||
OTC | 23,441 | (23,026 | ) | 415 | 31,870 | (29,289 | ) | 2,581 | |||||||||||||||||||||
OTC–cleared | — | — | — | — | — | — | |||||||||||||||||||||||
Exchange traded(a) | 20,052 | (17,391 | ) | 2,661 | 17,732 | (11,415 | ) | 6,317 | |||||||||||||||||||||
Total equity contracts | 43,493 | (40,417 | ) | 3,076 | 49,602 | (40,704 | ) | 8,898 | |||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||||||
OTC | 21,951 | (14,860 | ) | 7,091 | 21,619 | (15,082 | ) | 6,537 | |||||||||||||||||||||
OTC–cleared | — | — | — | — | — | — | |||||||||||||||||||||||
Exchange traded(a) | 13,414 | (11,683 | ) | 1,731 | 12,528 | (11,212 | ) | 1,316 | |||||||||||||||||||||
Total commodity contracts | 35,365 | (26,543 | ) | 8,822 | 34,147 | (26,294 | ) | 7,853 | |||||||||||||||||||||
Derivative receivables with appropriate legal opinion | $ | 1,083,987 | $ | (1,038,146 | ) | (b) | $ | 45,841 | $ | 1,164,733 | $ | (1,114,708 | ) | (b) | $ | 50,025 | |||||||||||||
Derivative receivables where an appropriate legal opinion has not been either sought or obtained | 16,537 | 16,537 | 15,734 | 15,734 | |||||||||||||||||||||||||
Total derivative receivables recognized on the Consolidated Balance Sheets | $ | 1,100,524 | $ | 62,378 | $ | 1,180,467 | $ | 65,759 | |||||||||||||||||||||
(a) | Exchange traded derivative amounts that relate to futures contracts are settled daily. | ||||||||||||||||||||||||||||
(b) | Included cash collateral netted of $62.0 billion and $63.9 billion at June 30, 2014, and December 31, 2013, respectively. | ||||||||||||||||||||||||||||
Offsetting liabilities | ' | ||||||||||||||||||||||||||||
The following table presents, as of June 30, 2014, and December 31, 2013, the gross and net derivative payables by contract and settlement type. Derivative payables have been netted on the Consolidated Balance Sheets against derivative receivables and cash collateral receivables from 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 on the Consolidated Balance Sheets, and are shown separately in the table below. | |||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | ||||||||||||||||||||||||||||
(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 | $ | 472,544 | $ | (461,345 | ) | $ | 11,199 | $ | 467,850 | $ | (458,081 | ) | $ | 9,769 | |||||||||||||||
OTC–cleared | 311,744 | (310,784 | ) | 960 | 354,698 | (353,990 | ) | 708 | |||||||||||||||||||||
Exchange traded(a) | — | — | — | — | — | — | |||||||||||||||||||||||
Total interest rate contracts | 784,288 | (772,129 | ) | 12,159 | 822,548 | (812,071 | ) | 10,477 | |||||||||||||||||||||
Credit contracts: | |||||||||||||||||||||||||||||
OTC | 67,182 | (65,923 | ) | 1,259 | 65,223 | (63,671 | ) | 1,552 | |||||||||||||||||||||
OTC–cleared | 11,910 | (10,801 | ) | 1,109 | 16,506 | (16,450 | ) | 56 | |||||||||||||||||||||
Total credit contracts | 79,092 | (76,724 | ) | 2,368 | 81,729 | (80,121 | ) | 1,608 | |||||||||||||||||||||
Foreign exchange contracts: | |||||||||||||||||||||||||||||
OTC | 110,876 | (102,961 | ) | 7,915 | 155,110 | (144,119 | ) | 10,991 | |||||||||||||||||||||
OTC–cleared | 41 | (41 | ) | — | 61 | (59 | ) | 2 | |||||||||||||||||||||
Exchange traded(a) | — | — | — | — | — | — | |||||||||||||||||||||||
Total foreign exchange contracts | 110,917 | (103,002 | ) | 7,915 | 155,171 | (144,178 | ) | 10,993 | |||||||||||||||||||||
Equity contracts: | |||||||||||||||||||||||||||||
OTC | 29,222 | (25,109 | ) | 4,113 | 33,295 | (28,520 | ) | 4,775 | |||||||||||||||||||||
OTC–cleared | — | — | — | — | — | — | |||||||||||||||||||||||
Exchange traded(a) | 18,257 | (17,391 | ) | 866 | 17,349 | (11,415 | ) | 5,934 | |||||||||||||||||||||
Total equity contracts | 47,479 | (42,500 | ) | 4,979 | 50,644 | (39,935 | ) | 10,709 | |||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||||||
OTC | 20,689 | (15,010 | ) | 5,679 | 21,993 | (15,318 | ) | 6,675 | |||||||||||||||||||||
OTC–cleared | — | — | — | — | — | — | |||||||||||||||||||||||
Exchange traded(a) | 13,177 | (11,683 | ) | 1,494 | 12,367 | (11,212 | ) | 1,155 | |||||||||||||||||||||
Total commodity contracts | 33,866 | (26,693 | ) | 7,173 | 34,360 | (26,530 | ) | 7,830 | |||||||||||||||||||||
Derivative payables with appropriate legal opinions | $ | 1,055,642 | $ | (1,021,048 | ) | (b) | $ | 34,594 | $ | 1,144,452 | $ | (1,102,835 | ) | (b) | $ | 41,617 | |||||||||||||
Derivative payables where an appropriate legal opinion has not been either sought or obtained | 16,201 | 16,201 | 15,697 | 15,697 | |||||||||||||||||||||||||
Total derivative payables recognized on the Consolidated Balance Sheets | $ | 1,071,843 | $ | 50,795 | $ | 1,160,149 | $ | 57,314 | |||||||||||||||||||||
(a) | Exchange traded derivative balances that relate to futures contracts are settled daily. | ||||||||||||||||||||||||||||
(b) | Included cash collateral netted of $44.9 billion and $52.1 billion related to OTC and OTC-cleared derivatives at June 30, 2014, and December 31, 2013, respectively. | ||||||||||||||||||||||||||||
Current credit and liquidity risk of derivatives | ' | ||||||||||||||||||||||||||||
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 June 30, 2014, and December 31, 2013. | |||||||||||||||||||||||||||||
OTC and OTC-cleared derivative payables containing downgrade triggers | |||||||||||||||||||||||||||||
(in millions) | June 30, | 31-Dec-13 | |||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Aggregate fair value of net derivative payables | $ | 22,077 | $ | 24,631 | |||||||||||||||||||||||||
Collateral posted | 17,569 | 20,346 | |||||||||||||||||||||||||||
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 June 30, 2014, and December 31, 2013, 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 | |||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | ||||||||||||||||||||||||||||
(in millions) | Single-notch downgrade | Two-notch downgrade | Single-notch downgrade | Two-notch downgrade | |||||||||||||||||||||||||
Amount of additional collateral to be posted upon downgrade(a) | $ | 929 | $ | 3,337 | $ | 952 | $ | 3,244 | |||||||||||||||||||||
Amount required to settle contracts with termination triggers upon downgrade(b) | 578 | 920 | 540 | 876 | |||||||||||||||||||||||||
(a) | Includes the additional collateral to be posted for initial margin. | ||||||||||||||||||||||||||||
(b) | Amounts represent fair value of derivative payables, and do not reflect collateral posted. | ||||||||||||||||||||||||||||
The following tables present information regarding certain financial instrument collateral received and transferred as of June 30, 2014, and December 31, 2013, 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 | |||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | ||||||||||||||||||||||||||||
(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 | $ | 45,841 | $ | (10,707 | ) | (a) | $ | 35,134 | $ | 50,025 | $ | (12,414 | ) | (a) | $ | 37,611 | |||||||||||||
Derivative payable collateral(b) | |||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | ||||||||||||||||||||||||||||
(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 | $ | 34,594 | $ | (7,302 | ) | (a) | $ | 27,292 | $ | 41,617 | $ | (6,873 | ) | (a) | $ | 34,744 | |||||||||||||
(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. | ||||||||||||||||||||||||||||
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 three and six months ended June 30, 2014 and 2013, 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: | ||||||||||||||||||||||||||||
Three months ended June 30, 2014 (in millions) | Derivatives | Hedged items | Total income statement impact | Hedge ineffectiveness(e) | Excluded components(f) | ||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | 578 | $ | (261 | ) | $ | 317 | $ | 43 | $ | 274 | ||||||||||||||||||
Foreign exchange(b) | (388 | ) | 307 | (81 | ) | — | (81 | ) | |||||||||||||||||||||
Commodity(c) | (561 | ) | 652 | 91 | 13 | 78 | |||||||||||||||||||||||
Total | $ | (371 | ) | $ | 698 | $ | 327 | $ | 56 | $ | 271 | ||||||||||||||||||
Gains/(losses) recorded in income | Income statement impact due to: | ||||||||||||||||||||||||||||
Three months ended June 30, 2013 (in millions) | Derivatives | Hedged items | Total income statement impact | Hedge ineffectiveness(e) | Excluded components(f) | ||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (2,107 | ) | $ | 2,434 | $ | 327 | $ | (60 | ) | $ | 387 | |||||||||||||||||
Foreign exchange(b) | 280 | (368 | ) | (88 | ) | — | (88 | ) | |||||||||||||||||||||
Commodity(c)(d) | 457 | (1,087 | ) | (630 | ) | 6 | (636 | ) | |||||||||||||||||||||
Total | $ | (1,370 | ) | $ | 979 | $ | (391 | ) | $ | (54 | ) | $ | (337 | ) | |||||||||||||||
Gains/(losses) recorded in income | Income statement impact due to: | ||||||||||||||||||||||||||||
Six months ended June 30, 2014 (in millions) | Derivatives | Hedged items | Total income statement impact | Hedge ineffectiveness(e) | Excluded components(f) | ||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | 1,321 | $ | (668 | ) | $ | 653 | $ | 72 | $ | 581 | ||||||||||||||||||
Foreign exchange(b) | (786 | ) | 631 | (155 | ) | — | (155 | ) | |||||||||||||||||||||
Commodity(c) | (381 | ) | 514 | 133 | 28 | 105 | |||||||||||||||||||||||
Total | $ | 154 | $ | 477 | $ | 631 | $ | 100 | $ | 531 | |||||||||||||||||||
Gains/(losses) recorded in income | Income statement impact due to: | ||||||||||||||||||||||||||||
Six months ended June 30, 2013 (in millions) | Derivatives | Hedged items | Total income statement impact | Hedge ineffectiveness(e) | Excluded components(f) | ||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (2,606 | ) | $ | 3,309 | $ | 703 | $ | (100 | ) | $ | 803 | |||||||||||||||||
Foreign exchange(b) | 4,033 | (4,120 | ) | (87 | ) | — | (87 | ) | |||||||||||||||||||||
Commodity(c)(d) | 1,208 | (1,812 | ) | (604 | ) | (12 | ) | (592 | ) | ||||||||||||||||||||
Total | $ | 2,635 | $ | (2,623 | ) | $ | 12 | $ | (112 | ) | $ | 124 | |||||||||||||||||
(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) | The prior period amounts have been revised. This revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. | ||||||||||||||||||||||||||||
(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 hedges included in accumulated other comprehensive income (loss) | ' | ||||||||||||||||||||||||||||
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 three and six months ended June 30, 2014 and 2013, 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) | |||||||||||||||||||||||||||||
Three months ended June 30, 2014 (in millions) | 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 OCI | |||||||||||||||||||||||||||||
for period | |||||||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (10 | ) | $ | — | $ | (10 | ) | $ | 71 | $ | 81 | |||||||||||||||||
Foreign exchange(b) | 39 | — | 39 | 72 | 33 | ||||||||||||||||||||||||
Total | $ | 29 | $ | — | $ | 29 | $ | 143 | $ | 114 | |||||||||||||||||||
Gains/(losses) recorded in income and other comprehensive income/(loss)(c) | |||||||||||||||||||||||||||||
Three months ended June 30, 2013 (in millions) | 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 OCI | |||||||||||||||||||||||||||||
for period | |||||||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (14 | ) | $ | — | $ | (14 | ) | $ | (500 | ) | $ | (486 | ) | |||||||||||||||
Foreign exchange(b) | (20 | ) | — | (20 | ) | (12 | ) | 8 | |||||||||||||||||||||
Total | $ | (34 | ) | $ | — | $ | (34 | ) | $ | (512 | ) | $ | (478 | ) | |||||||||||||||
Gains/(losses) recorded in income and other comprehensive income/(loss)(c) | |||||||||||||||||||||||||||||
Six months ended June 30, 2014 (in millions) | 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 OCI | |||||||||||||||||||||||||||||
for period | |||||||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (36 | ) | $ | — | $ | (36 | ) | $ | 134 | $ | 170 | |||||||||||||||||
Foreign exchange(b) | 38 | — | 38 | 81 | 43 | ||||||||||||||||||||||||
Total | $ | 2 | $ | — | $ | 2 | $ | 215 | $ | 213 | |||||||||||||||||||
Gains/(losses) recorded in income and other comprehensive income/(loss)(c) | |||||||||||||||||||||||||||||
Six months ended June 30, 2013 (in millions) | 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 OCI | |||||||||||||||||||||||||||||
for period | |||||||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | (41 | ) | $ | — | $ | (41 | ) | $ | (526 | ) | $ | (485 | ) | |||||||||||||||
Foreign exchange(b) | (22 | ) | — | (22 | ) | (116 | ) | (94 | ) | ||||||||||||||||||||
Total | $ | (63 | ) | $ | — | $ | (63 | ) | $ | (642 | ) | $ | (579 | ) | |||||||||||||||
(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 three and six months ended June 30, 2014 and 2013. | ||||||||||||||||||||||||||||
(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 hedges in accumulated other comprehensive income (loss) | ' | ||||||||||||||||||||||||||||
The following table presents 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 three and six months ended June 30, 2014 and 2013. | |||||||||||||||||||||||||||||
Gains/(losses) recorded in income and | |||||||||||||||||||||||||||||
other comprehensive income/(loss) | |||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Three months ended June 30, | Excluded components recorded directly | Effective portion recorded in OCI | Excluded components | Effective portion recorded in OCI | |||||||||||||||||||||||||
(in millions) | in income(a) | recorded directly | |||||||||||||||||||||||||||
in income(a) | |||||||||||||||||||||||||||||
Foreign exchange derivatives | $ | (122 | ) | $ | (208 | ) | $ | (85 | ) | $ | 571 | ||||||||||||||||||
Gains/(losses) recorded in income and | |||||||||||||||||||||||||||||
other comprehensive income/(loss) | |||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Six months ended June 30, | Excluded components recorded directly | Effective portion recorded in OCI | Excluded components | Effective portion recorded in OCI | |||||||||||||||||||||||||
(in millions) | in income(a) | recorded directly | |||||||||||||||||||||||||||
in income(a) | |||||||||||||||||||||||||||||
Foreign exchange derivatives | $ | (227 | ) | $ | (362 | ) | $ | (162 | ) | $ | 991 | ||||||||||||||||||
(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 material ineffectiveness for net investment hedge accounting relationships during the three and six months ended June 30, 2014 and 2013. | |||||||||||||||||||||||||||||
Price risk derivatives | ' | ||||||||||||||||||||||||||||
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, foreign currency-denominated liabilities, and commodities-related contracts and investments. | |||||||||||||||||||||||||||||
Derivatives gains/(losses) | |||||||||||||||||||||||||||||
recorded in income | |||||||||||||||||||||||||||||
Three months ended June 30, | Six months | ||||||||||||||||||||||||||||
ended June 30, | |||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Contract type | |||||||||||||||||||||||||||||
Interest rate(a) | $ | 589 | $ | 269 | $ | 1,107 | $ | 727 | |||||||||||||||||||||
Credit(b) | (24 | ) | (8 | ) | (41 | ) | (39 | ) | |||||||||||||||||||||
Foreign exchange(c) | (3 | ) | — | (3 | ) | 1 | |||||||||||||||||||||||
Commodity(d) | (21 | ) | 40 | 162 | 74 | ||||||||||||||||||||||||
Total | $ | 541 | $ | 301 | $ | 1,225 | $ | 763 | |||||||||||||||||||||
(a) | Primarily represents interest rate derivatives used to hedge the interest rate risk inherent in the mortgage pipeline, warehouse loans and MSRs, as well as written commitments to originate warehouse loans. 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. These derivatives do not include credit derivatives used to mitigate counterparty credit risk arising from derivative receivables, which is 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. | ||||||||||||||||||||||||||||
(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 | ' | ||||||||||||||||||||||||||||
Total credit derivatives and credit-related notes | |||||||||||||||||||||||||||||
Maximum payout/Notional amount | |||||||||||||||||||||||||||||
June 30, 2014 (in millions) | Protection sold | Protection | Net protection (sold)/purchased(d) | Other protection purchased(e) | |||||||||||||||||||||||||
purchased with | |||||||||||||||||||||||||||||
identical underlyings(c) | |||||||||||||||||||||||||||||
Credit derivatives | |||||||||||||||||||||||||||||
Credit default swaps | $ | (2,370,387 | ) | $ | 2,573,221 | $ | 202,834 | $ | 19,406 | ||||||||||||||||||||
Other credit derivatives(a) | (63,840 | ) | 48,135 | (15,705 | ) | 24,692 | |||||||||||||||||||||||
Total credit derivatives | (2,434,227 | ) | 2,621,356 | 187,129 | 44,098 | ||||||||||||||||||||||||
Credit-related notes | (114 | ) | — | (114 | ) | 2,892 | |||||||||||||||||||||||
Total | $ | (2,434,341 | ) | $ | 2,621,356 | $ | 187,015 | $ | 46,990 | ||||||||||||||||||||
Maximum payout/Notional amount | |||||||||||||||||||||||||||||
December 31, 2013 (in millions) | Protection sold | Protection | Net protection (sold)/purchased(d) | Other protection purchased(e) | |||||||||||||||||||||||||
purchased with | |||||||||||||||||||||||||||||
identical underlyings(c) | |||||||||||||||||||||||||||||
Credit derivatives | |||||||||||||||||||||||||||||
Credit default swaps | $ | (2,601,581 | ) | $ | 2,610,198 | $ | 8,617 | $ | 8,722 | ||||||||||||||||||||
Other credit derivatives(a) | (44,137 | ) | (b) | 45,921 | 1,784 | (b) | 20,480 | (b) | |||||||||||||||||||||
Total credit derivatives | (2,645,718 | ) | 2,656,119 | 10,401 | 29,202 | ||||||||||||||||||||||||
Credit-related notes | (130 | ) | — | (130 | ) | 2,720 | |||||||||||||||||||||||
Total | $ | (2,645,848 | ) | $ | 2,656,119 | $ | 10,271 | $ | 31,922 | ||||||||||||||||||||
(a) | Other credit derivatives predominantly consists of credit swap options. | ||||||||||||||||||||||||||||
(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) | 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. | ||||||||||||||||||||||||||||
(d) | 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. | ||||||||||||||||||||||||||||
(e) | 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 amounts by the ratings and maturity profile, and the total fair value, of credit derivatives as of June 30, 2014, and December 31, 2013, 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 | |||||||||||||||||||||||||||||
June 30, 2014 (in millions) | <1 year | 1–5 years | >5 years | Total | Fair value of receivables(c) | Fair value of payables(c) | Net fair value | ||||||||||||||||||||||
notional amount | |||||||||||||||||||||||||||||
Risk rating of reference entity | |||||||||||||||||||||||||||||
Investment-grade | $ | (416,698 | ) | $ | (1,280,933 | ) | $ | (94,729 | ) | $ | (1,792,360 | ) | $ | 33,363 | $ | (2,403 | ) | $ | 30,960 | ||||||||||
Noninvestment-grade | (150,449 | ) | (463,834 | ) | (27,698 | ) | (641,981 | ) | 26,967 | (14,775 | ) | 12,192 | |||||||||||||||||
Total | $ | (567,147 | ) | $ | (1,744,767 | ) | $ | (122,427 | ) | $ | (2,434,341 | ) | $ | 60,330 | $ | (17,178 | ) | $ | 43,152 | ||||||||||
December 31, 2013 (in millions) | <1 year | 1–5 years | >5 years | Total | Fair value of receivables(c) | Fair value of payables(c) | Net fair value | ||||||||||||||||||||||
notional amount | |||||||||||||||||||||||||||||
Risk rating of reference entity | |||||||||||||||||||||||||||||
Investment-grade | $ | (368,712 | ) | (b) | $ | (1,469,773 | ) | (b) | $ | (93,209 | ) | (b) | $ | (1,931,694 | ) | (b) | $ | 31,730 | (b) | $ | (5,664 | ) | (b) | $ | 26,066 | (b) | |||
Noninvestment-grade | (140,540 | ) | (544,671 | ) | (28,943 | ) | (714,154 | ) | 27,426 | (16,674 | ) | 10,752 | |||||||||||||||||
Total | $ | (509,252 | ) | $ | (2,014,444 | ) | $ | (122,152 | ) | $ | (2,645,848 | ) | $ | 59,156 | $ | (22,338 | ) | $ | 36,818 | ||||||||||
(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) | 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) | 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) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Noninterest Income [Abstract] | ' | |||||||||||||||
Components of investment banking fees | ' | |||||||||||||||
The following table presents the components of investment banking fees. | ||||||||||||||||
Three months ended June 30, | Six months ended | |||||||||||||||
June 30, | ||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Underwriting | ||||||||||||||||
Equity | $ | 477 | $ | 457 | $ | 830 | $ | 730 | ||||||||
Debt | 876 | 956 | 1,559 | 1,873 | ||||||||||||
Total underwriting | 1,353 | 1,413 | 2,389 | 2,603 | ||||||||||||
Advisory | 398 | 304 | 782 | 559 | ||||||||||||
Total investment banking fees | $ | 1,751 | $ | 1,717 | $ | 3,171 | $ | 3,162 | ||||||||
Principal transactions revenue | ' | |||||||||||||||
The following table presents all realized and unrealized gains and losses recorded in principal transactions revenue. This table excludes interest income and interest expense on trading assets and liabilities, which are an integral part of the overall performance of the Firm’s client-driven market-making activities. See Note 7 for further information on interest income and interest expense. Trading revenue is presented primarily by instrument type. The Firm’s client-driven market-making businesses generally utilize a variety of instrument types in connection with their market-making and related risk management activities; accordingly, the trading revenue presented in the table below is not representative of the total revenue of any individual line of business. | ||||||||||||||||
Three months ended June 30, | Six months ended | |||||||||||||||
June 30, | ||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Trading revenue | ||||||||||||||||
by instrument type(a) | ||||||||||||||||
Interest rate | $ | 626 | $ | 434 | $ | 981 | $ | 884 | ||||||||
Credit | 603 | 701 | 1,129 | 2,002 | ||||||||||||
Foreign exchange | 342 | 701 | 868 | 1,202 | ||||||||||||
Equity | 759 | 897 | 1,564 | 1,986 | ||||||||||||
Commodity(b) | 347 | 547 | 1,035 | 1,239 | ||||||||||||
Total trading revenue | 2,677 | 3,280 | 5,577 | 7,313 | ||||||||||||
Private equity | 231 | 480 | 653 | 208 | ||||||||||||
gains/(losses)(c) | ||||||||||||||||
Principal transactions | $ | 2,908 | $ | 3,760 | $ | 6,230 | $ | 7,521 | ||||||||
(a) | Prior to the second quarter of 2014, trading revenue was presented by major underlying type of risk exposure, generally determined based upon the business primarily responsible for managing that risk exposure. Prior period amounts have been revised to conform with the current period presentation. This revision had no impact on the Firm’s Consolidated Balance Sheets or results of operations. | |||||||||||||||
(b) | 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. For gains/(losses) related to commodity fair value hedges see Note 5. | |||||||||||||||
(c) | 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 the components of firmwide asset management, administration and commissions. | ||||||||||||||||
Three months ended June 30, | Six months ended | |||||||||||||||
June 30, | ||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Asset management fees | ||||||||||||||||
Investment management fees(a) | $ | 2,260 | $ | 1,948 | $ | 4,356 | $ | 3,773 | ||||||||
All other asset management fees(b) | 131 | 139 | 254 | 263 | ||||||||||||
Total asset management fees | 2,391 | 2,087 | 4,610 | 4,036 | ||||||||||||
Total administration fees(c) | 564 | 548 | 1,091 | 1,075 | ||||||||||||
Commission and other fees | ||||||||||||||||
Brokerage commissions | 567 | 625 | 1,199 | 1,205 | ||||||||||||
All other commissions and fees | 485 | 605 | 943 | 1,148 | ||||||||||||
Total commissions and fees | 1,052 | 1,230 | 2,142 | 2,353 | ||||||||||||
Total asset management, administration and commissions | $ | 4,007 | $ | 3,865 | $ | 7,843 | $ | 7,464 | ||||||||
(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_E1
Interest Income and Interest Expense (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Banking and Thrift, Interest [Abstract] | ' | ||||||||||||||||
Details of interest income and interest expense | ' | ||||||||||||||||
Details of interest income and interest expense were as follows. | |||||||||||||||||
Three months | Six months | ||||||||||||||||
ended June 30, | ended June 30, | ||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Interest income | |||||||||||||||||
Loans | $ | 8,039 | $ | 8,341 | $ | 16,078 | $ | 16,854 | |||||||||
Taxable securities | 1,940 | 1,581 | 3,840 | 3,288 | |||||||||||||
Tax-exempt securities | 337 | 197 | 654 | 380 | |||||||||||||
Total securities | 2,277 | 1,778 | 4,494 | 3,668 | |||||||||||||
Trading assets | 1,827 | 2,124 | (d) | 3,598 | 4,335 | (d) | |||||||||||
Federal funds sold and securities purchased under resale agreements | 398 | 490 | 834 | 1,004 | |||||||||||||
Securities borrowed(a) | (131 | ) | (30 | ) | (219 | ) | (36 | ) | |||||||||
Deposits with banks | 279 | 222 | 535 | 385 | |||||||||||||
Other assets(b) | 172 | 147 | 334 | 227 | |||||||||||||
Total interest income | 12,861 | 13,072 | (d) | 25,654 | 26,437 | (d) | |||||||||||
Interest expense | |||||||||||||||||
Interest-bearing deposits | 417 | 539 | 843 | 1,084 | |||||||||||||
Short-term and other liabilities(c) | 455 | 442 | (d) | 883 | 900 | (d) | |||||||||||
Long-term debt | 1,086 | 1,261 | 2,253 | 2,556 | |||||||||||||
Beneficial interests issued by consolidated VIEs | 105 | 126 | 210 | 260 | |||||||||||||
Total interest expense | 2,063 | 2,368 | (d) | 4,189 | 4,800 | (d) | |||||||||||
Net interest income | 10,798 | 10,704 | 21,465 | 21,637 | |||||||||||||
Provision for credit losses | 692 | 47 | 1,542 | 664 | |||||||||||||
Net interest income after provision for credit losses | $ | 10,106 | $ | 10,657 | $ | 19,923 | $ | 20,973 | |||||||||
(a) | Negative interest income for the three and six months ended June 30, 2014 and 2013, 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. | ||||||||||||||||
(b) | Largely margin loans. | ||||||||||||||||
(c) | Includes brokerage customer payables. | ||||||||||||||||
(d) | Effective January 1,2014, prior period amounts (and the corresponding amounts on the Consolidated statements of income) have been reclassified to conform with the current period presentation. |
Pension_and_Other_Postretireme1
Pension and Other Postretirement Employee Benefit Plans (Tables) | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||
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 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 | |||||||||||||||||||
Three months June 30, (in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||
Components of net periodic benefit cost | |||||||||||||||||||||
Benefits earned during the period | $ | 70 | $ | 79 | $ | 8 | $ | 8 | $ | — | $ | — | |||||||||
Interest cost on benefit obligations | 134 | 111 | 36 | 30 | 9 | 9 | |||||||||||||||
Expected return on plan assets | (246 | ) | (238 | ) | (45 | ) | (34 | ) | (25 | ) | (24 | ) | |||||||||
Amortization: | |||||||||||||||||||||
Net (gain)/loss | 7 | 67 | 12 | 12 | — | — | |||||||||||||||
Prior service cost/(credit) | (12 | ) | (11 | ) | — | — | — | — | |||||||||||||
Net periodic defined benefit cost | (47 | ) | 8 | 11 | 16 | (16 | ) | (15 | ) | ||||||||||||
Other defined benefit pension plans(a) | 4 | 4 | 1 | 4 | NA | NA | |||||||||||||||
Total defined benefit plans | (43 | ) | 12 | 12 | 20 | (16 | ) | (15 | ) | ||||||||||||
Total defined contribution plans | 110 | 115 | 87 | 80 | NA | NA | |||||||||||||||
Total pension and OPEB cost included in compensation expense | $ | 67 | $ | 127 | $ | 99 | $ | 100 | $ | (16 | ) | $ | (15 | ) | |||||||
Pension plans | |||||||||||||||||||||
U.S. | Non-U.S. | OPEB plans | |||||||||||||||||||
Six months ended June 30, (in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||
Components of net periodic benefit cost | |||||||||||||||||||||
Benefits earned during the period | $ | 140 | $ | 157 | $ | 17 | $ | 17 | $ | — | $ | — | |||||||||
Interest cost on benefit obligations | 268 | 223 | 70 | 60 | 18 | 18 | |||||||||||||||
Expected return on plan assets | (492 | ) | (477 | ) | (89 | ) | (68 | ) | (50 | ) | (46 | ) | |||||||||
Amortization: | |||||||||||||||||||||
Net (gain)/loss | 13 | 135 | 24 | 24 | — | 1 | |||||||||||||||
Prior service cost/(credit) | (22 | ) | (21 | ) | — | (1 | ) | — | — | ||||||||||||
Net periodic defined benefit cost | (93 | ) | 17 | 22 | 32 | (32 | ) | (27 | ) | ||||||||||||
Other defined benefit pension plans(a) | 7 | 7 | 3 | 6 | NA | NA | |||||||||||||||
Total defined benefit plans | (86 | ) | 24 | 25 | 38 | (32 | ) | (27 | ) | ||||||||||||
Total defined contribution plans | 218 | 220 | 167 | 159 | NA | NA | |||||||||||||||
Total pension and OPEB cost included in compensation expense | $ | 132 | $ | 244 | $ | 192 | $ | 197 | $ | (32 | ) | $ | (27 | ) | |||||||
(a) | Includes various defined benefit pension plans which are individually immaterial. |
Employee_Stock_Based_Incentive1
Employee Stock Based Incentives (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
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. | ||||||||||||||||
Three months ended June 30, | Six months | |||||||||||||||
ended June 30, | ||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Cost of prior grants of restricted stock units (“RSUs”) and stock appreciation rights (“SARs”) that are amortized over their applicable vesting periods | $ | 335 | $ | 372 | $ | 745 | $ | 756 | ||||||||
Accrual of estimated costs of stock awards to be granted in future periods including those to full-career eligible employees | 189 | 214 | 397 | 471 | ||||||||||||
Total noncash compensation expense related to employee stock-based incentive plans | $ | 524 | $ | 586 | $ | 1,142 | $ | 1,227 | ||||||||
Noninterest_Expense_Tables
Noninterest Expense (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Noninterest Expense [Abstract] | ' | |||||||||||||||
Components of noninterest expense | ' | |||||||||||||||
The following table presents the components of noninterest expense. | ||||||||||||||||
Three months ended June 30, | Six months ended June 30, | |||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Compensation expense | $ | 7,610 | $ | 8,019 | $ | 15,469 | $ | 16,433 | ||||||||
Noncompensation expense: | ||||||||||||||||
Occupancy expense | 973 | 904 | 1,925 | 1,805 | ||||||||||||
Technology, communications and equipment expense | 1,433 | 1,361 | 2,844 | 2,693 | ||||||||||||
Professional and outside services | 1,932 | 1,901 | 3,718 | 3,635 | ||||||||||||
Marketing | 650 | 578 | 1,214 | 1,167 | ||||||||||||
Other expense(a)(b) | 2,701 | 2,951 | 4,634 | 5,252 | ||||||||||||
Amortization of intangibles | 132 | 152 | 263 | 304 | ||||||||||||
Total noncompensation expense | 7,821 | 7,847 | 14,598 | 14,856 | ||||||||||||
Total noninterest expense | $ | 15,431 | $ | 15,866 | $ | 30,067 | $ | 31,289 | ||||||||
(a) | Included firmwide legal expense of $669 million and $678 million for the three months ended June 30, 2014 and 2013 respectively, and $707 million and $1.0 billion for the six months ended June 30, 2014 and 2013. | |||||||||||||||
(b) | Included FDIC-related expense of $266 million and $392 million for the three months ended June 30, 2014 and 2013, respectively, and $559 million and $771 million for the six months ended June 30, 2014 and 2013. |
Securities_Tables
Securities (Tables) | 6 Months Ended | |||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||||||
Securities gains and losses | ' | |||||||||||||||||||||||||||
The following table presents realized gains and losses and other-than-temporary impairment losses (“OTTI”) from AFS securities that were recognized in income. | ||||||||||||||||||||||||||||
Three months | Six months | |||||||||||||||||||||||||||
ended June 30, | ended June 30, | |||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||
Realized gains | $ | 76 | $ | 143 | $ | 224 | $ | 664 | ||||||||||||||||||||
Realized losses | (64 | ) | (13 | ) | (180 | ) | (25 | ) | ||||||||||||||||||||
Net realized gains(a) | 12 | 130 | 44 | 639 | ||||||||||||||||||||||||
OTTI losses: | ||||||||||||||||||||||||||||
Securities the Firm intends to sell | — | (6 | ) | (2 | ) | (b) | (6 | ) | ||||||||||||||||||||
Total OTTI losses recognized in income | — | (6 | ) | (2 | ) | (6 | ) | |||||||||||||||||||||
Net securities gains | $ | 12 | $ | 124 | $ | 42 | $ | 633 | ||||||||||||||||||||
(a) | Total proceeds from securities sold were within approximately 1% and 1% of amortized cost for the three and six months ended June 30, 2014, respectively and 1% and 3% of amortized cost for the three and six months ended June 30, 2013. | |||||||||||||||||||||||||||
(b) | Excludes realized losses of $1 million for the six months ended June 30, 2014 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. | ||||||||||||||||||||||||||||
30-Jun-14 | December 31, 2013 | |||||||||||||||||||||||||||
(in millions) | Amortized cost | Gross unrealized gains | Gross unrealized losses | Fair value | Amortized cost | Gross unrealized gains | Gross unrealized losses | Fair value | ||||||||||||||||||||
Available-for-sale debt securities | ||||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||
U.S. government agencies(a) | $ | 62,353 | $ | 2,328 | $ | 169 | $ | 64,512 | $ | 76,428 | $ | 2,364 | $ | 977 | $ | 77,815 | ||||||||||||
Residential: | ||||||||||||||||||||||||||||
Prime and Alt-A | 3,487 | 75 | 27 | 3,535 | 2,744 | 61 | 27 | 2,778 | ||||||||||||||||||||
Subprime | 815 | 20 | — | 835 | 908 | 23 | 1 | 930 | ||||||||||||||||||||
Non-U.S. | 52,466 | 1,403 | — | 53,869 | 57,448 | 1,314 | 1 | 58,761 | ||||||||||||||||||||
Commercial | 17,816 | 601 | 4 | 18,413 | 15,891 | 560 | 26 | 16,425 | ||||||||||||||||||||
Total mortgage-backed securities | 136,937 | 4,427 | 200 | 141,164 | 153,419 | 4,322 | 1,032 | 156,709 | ||||||||||||||||||||
U.S. Treasury and government agencies(a) | 19,279 | 82 | 2 | 19,359 | 21,310 | 385 | 306 | 21,389 | ||||||||||||||||||||
Obligations of U.S. states and municipalities | 26,480 | 1,694 | 88 | 28,086 | 29,741 | 707 | 987 | 29,461 | ||||||||||||||||||||
Certificates of deposit | 1,411 | 1 | 2 | 1,410 | 1,041 | 1 | 1 | 1,041 | ||||||||||||||||||||
Non-U.S. government debt securities | 56,727 | 1,170 | 52 | 57,845 | 55,507 | 863 | 122 | 56,248 | ||||||||||||||||||||
Corporate debt securities | 20,779 | 590 | 13 | 21,356 | 21,043 | 498 | 29 | 21,512 | ||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||
Collateralized loan obligations | 28,299 | 224 | 73 | 28,450 | 28,130 | 236 | 136 | 28,230 | ||||||||||||||||||||
Other | 12,890 | 218 | — | 13,108 | 12,062 | 186 | 3 | 12,245 | ||||||||||||||||||||
Total available-for-sale debt securities | 302,802 | 8,406 | 430 | 310,778 | 322,253 | 7,198 | 2,616 | 326,835 | ||||||||||||||||||||
Available-for-sale equity securities | 3,278 | 13 | — | 3,291 | 3,125 | 17 | — | 3,142 | ||||||||||||||||||||
Total available-for-sale securities | $ | 306,080 | $ | 8,419 | $ | 430 | $ | 314,069 | $ | 325,378 | $ | 7,215 | $ | 2,616 | $ | 329,977 | ||||||||||||
Total held-to-maturity securities(b) | $ | 47,849 | $ | 1,314 | $ | — | $ | 49,163 | $ | 24,026 | $ | 22 | $ | 317 | $ | 23,731 | ||||||||||||
(a) | Included total U.S. government-sponsored enterprise obligations with fair values of $58.2 billion and $67.0 billion at June 30, 2014, and December 31, 2013, respectively. | |||||||||||||||||||||||||||
(b) | As of June 30, 2014, consists of MBS issued by U. S. government-sponsored enterprises with an amortized cost of $35.4 billion, MBS issued by U.S. government agencies with an amortized cost of $4.1 billion and obligations of U.S. states and municipalities with an amortized cost of $8.3 billion. 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 investment securities by aging category at June 30, 2014, and December 31, 2013. | ||||||||||||||||||||||||||||
Securities with gross unrealized losses | ||||||||||||||||||||||||||||
Less than 12 months | 12 months or more | |||||||||||||||||||||||||||
June 30, 2014 (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 | $ | 1,354 | $ | 17 | $ | 7,131 | $ | 152 | $ | 8,485 | $ | 169 | ||||||||||||||||
Residential: | ||||||||||||||||||||||||||||
Prime and Alt-A | 536 | 2 | 462 | 25 | 998 | 27 | ||||||||||||||||||||||
Subprime | — | — | — | — | — | — | ||||||||||||||||||||||
Non-U.S. | — | — | — | — | — | — | ||||||||||||||||||||||
Commercial | — | — | 165 | 4 | 165 | 4 | ||||||||||||||||||||||
Total mortgage-backed securities | 1,890 | 19 | 7,758 | 181 | 9,648 | 200 | ||||||||||||||||||||||
U.S. Treasury and government agencies | — | — | 1,994 | 2 | 1,994 | 2 | ||||||||||||||||||||||
Obligations of U.S. states and municipalities | 3,574 | 75 | 556 | 13 | 4,130 | 88 | ||||||||||||||||||||||
Certificates of deposit | 1,276 | 2 | — | — | 1,276 | 2 | ||||||||||||||||||||||
Non-U.S. government debt securities | 8,925 | 18 | 1,481 | 34 | 10,406 | 52 | ||||||||||||||||||||||
Corporate debt securities | 2,193 | 8 | 337 | 5 | 2,530 | 13 | ||||||||||||||||||||||
Asset-backed securities: | ||||||||||||||||||||||||||||
Collateralized loan obligations | 9,052 | 28 | 5,102 | 45 | 14,154 | 73 | ||||||||||||||||||||||
Other | — | — | — | — | — | — | ||||||||||||||||||||||
Total available-for-sale debt securities | 26,910 | 150 | 17,228 | 280 | 44,138 | 430 | ||||||||||||||||||||||
Available-for-sale equity securities | — | — | — | — | — | — | ||||||||||||||||||||||
Held-to-maturity securities | — | — | — | — | — | — | ||||||||||||||||||||||
Total securities with gross unrealized losses | $ | 26,910 | $ | 150 | $ | 17,228 | $ | 280 | $ | 44,138 | $ | 430 | ||||||||||||||||
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 | ||||||||||||||||
Changes in credit loss component of credit-impaired debt securities | ' | |||||||||||||||||||||||||||
The following table presents a rollforward for the three and six months ended June 30, 2014 and 2013, 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. | ||||||||||||||||||||||||||||
Three months ended June 30, | Six months | |||||||||||||||||||||||||||
ended June 30, | ||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||
Balance, beginning of period | $ | 1 | $ | 519 | $ | 1 | $ | 522 | ||||||||||||||||||||
Reductions: | ||||||||||||||||||||||||||||
Sales and redemptions of credit-impaired securities | — | — | — | (3 | ) | |||||||||||||||||||||||
Balance, end of period | $ | 1 | $ | 519 | $ | 1 | $ | 519 | ||||||||||||||||||||
Amortized cost and estimated fair value by contractual maturity | ' | |||||||||||||||||||||||||||
The following table presents the amortized cost and estimated fair value at June 30, 2014, 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 | |||||||||||||||||||||||
30-Jun-14 | year or less | 10 years(c) | ||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
Available-for-sale debt securities | ||||||||||||||||||||||||||||
Mortgage-backed securities(a) | ||||||||||||||||||||||||||||
Amortized cost | $ | 677 | $ | 18,314 | $ | 9,278 | $ | 108,668 | $ | 136,937 | ||||||||||||||||||
Fair value | 683 | 18,811 | 9,538 | 112,132 | 141,164 | |||||||||||||||||||||||
Average yield(b) | 2.5 | % | 1.69 | % | 2.67 | % | 3.07 | % | 2.86 | % | ||||||||||||||||||
U.S. Treasury and government agencies(a) | ||||||||||||||||||||||||||||
Amortized cost | $ | 12,418 | $ | 3,998 | $ | 1,887 | $ | 976 | $ | 19,279 | ||||||||||||||||||
Fair value | 12,430 | 4,007 | 1,890 | 1,032 | 19,359 | |||||||||||||||||||||||
Average yield(b) | 0.27 | % | 0.51 | % | 0.3 | % | 0.72 | % | 0.34 | % | ||||||||||||||||||
Obligations of U.S. states and municipalities | ||||||||||||||||||||||||||||
Amortized cost | $ | 60 | $ | 467 | $ | 1,407 | $ | 24,546 | $ | 26,480 | ||||||||||||||||||
Fair value | 60 | 491 | 1,467 | 26,068 | 28,086 | |||||||||||||||||||||||
Average yield(b) | 2.61 | % | 4.4 | % | 4.28 | % | 6.82 | % | 6.63 | % | ||||||||||||||||||
Certificates of deposit | ||||||||||||||||||||||||||||
Amortized cost | $ | 1,359 | $ | 52 | $ | — | $ | — | $ | 1,411 | ||||||||||||||||||
Fair value | 1,357 | 53 | — | — | 1,410 | |||||||||||||||||||||||
Average yield(b) | 2.67 | % | 3.28 | % | — | % | — | % | 2.69 | % | ||||||||||||||||||
Non-U.S. government debt securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 11,946 | $ | 15,186 | $ | 25,380 | $ | 4,215 | $ | 56,727 | ||||||||||||||||||
Fair value | 11,976 | 15,419 | 26,066 | 4,384 | 57,845 | |||||||||||||||||||||||
Average yield(b) | 3.52 | % | 2.51 | % | 1.25 | % | 1.2 | % | 2.06 | % | ||||||||||||||||||
Corporate debt securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 3,692 | $ | 10,843 | $ | 6,244 | $ | — | $ | 20,779 | ||||||||||||||||||
Fair value | 3,707 | 11,139 | 6,510 | — | 21,356 | |||||||||||||||||||||||
Average yield(b) | 2.15 | % | 2.35 | % | 2.47 | % | — | % | 2.35 | % | ||||||||||||||||||
Asset-backed securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 15 | $ | 3,382 | $ | 17,523 | $ | 20,269 | $ | 41,189 | ||||||||||||||||||
Fair value | 15 | 3,408 | 17,653 | 20,482 | 41,558 | |||||||||||||||||||||||
Average yield(b) | 2.15 | % | 2.1 | % | 1.79 | % | 1.8 | % | 1.82 | % | ||||||||||||||||||
Total available-for-sale debt securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 30,167 | $ | 52,242 | $ | 61,719 | $ | 158,674 | $ | 302,802 | ||||||||||||||||||
Fair value | 30,228 | 53,328 | 63,124 | 164,098 | 310,778 | |||||||||||||||||||||||
Average yield(b) | 1.95 | % | 2.02 | % | 1.78 | % | 3.42 | % | 2.7 | % | ||||||||||||||||||
Available-for-sale equity securities | ||||||||||||||||||||||||||||
Amortized cost | $ | — | $ | — | $ | — | $ | 3,278 | $ | 3,278 | ||||||||||||||||||
Fair value | — | — | — | 3,291 | 3,291 | |||||||||||||||||||||||
Average yield(b) | — | % | — | % | — | % | 0.18 | % | 0.18 | % | ||||||||||||||||||
Total available-for-sale securities | ||||||||||||||||||||||||||||
Amortized cost | $ | 30,167 | $ | 52,242 | $ | 61,719 | $ | 161,952 | $ | 306,080 | ||||||||||||||||||
Fair value | 30,228 | 53,328 | 63,124 | 167,389 | 314,069 | |||||||||||||||||||||||
Average yield(b) | 1.95 | % | 2.02 | % | 1.78 | % | 3.36 | % | 2.67 | % | ||||||||||||||||||
Total held-to-maturity securities | ||||||||||||||||||||||||||||
Amortized cost | $ | — | $ | 56 | $ | 346 | $ | 47,447 | $ | 47,849 | ||||||||||||||||||
Fair value | — | 56 | 358 | 48,749 | 49,163 | |||||||||||||||||||||||
Average yield(b) | — | % | 4.28 | % | 4.75 | % | 3.91 | % | 3.92 | % | ||||||||||||||||||
(a) | U.S. government-sponsored enterprises were the only issuers whose securities exceeded 10% of JPMorgan Chase’s total stockholders’ equity at June 30, 2014. | |||||||||||||||||||||||||||
(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 six years for agency residential mortgage-backed securities, three years for agency residential collateralized mortgage obligations and four years for nonagency residential collateralized mortgage obligations. |
Securities_Financing_Activitie1
Securities Financing Activities (Tables) | 6 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||
Securities Financing Transactions Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of securities purchased under resale agreements, netting & securities borrowed | ' | ||||||||||||||||||||||||||||
The following table presents as of June 30, 2014, and December 31, 2013, 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. | |||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||
(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 | $ | 365,647 | $ | (124,143 | ) | $ | 241,504 | $ | 354,814 | $ | (115,408 | ) | $ | 239,406 | |||||||||||||||
Securities purchased under resale agreements where an appropriate legal opinion has not been either sought or obtained | 6,318 | 6,318 | 8,279 | 8,279 | |||||||||||||||||||||||||
Total securities purchased under resale agreements | $ | 371,965 | $ | (124,143 | ) | $ | 247,822 | (a) | $ | 363,093 | $ | (115,408 | ) | $ | 247,685 | (a) | |||||||||||||
Securities borrowed | $ | 113,967 | NA | $ | 113,967 | (b)(c) | $ | 111,465 | NA | $ | 111,465 | (b)(c) | |||||||||||||||||
(a) | At June 30, 2014, and December 31, 2013, included securities purchased under resale agreements of $27.8 billion and $25.1 billion, respectively, accounted for at fair value. | ||||||||||||||||||||||||||||
(b) | At June 30, 2014, and December 31, 2013, included securities borrowed of $2.1 billion and $3.7 billion, respectively, accounted for at fair value. | ||||||||||||||||||||||||||||
(c) | Included $27.2 billion and $26.9 billion at June 30, 2014, and December 31, 2013, respectively, of securities borrowed where an appropriate legal opinion has not been either sought or obtained with respect to the master netting agreement. | ||||||||||||||||||||||||||||
Schedule of securities purchased under resale agreements & securities borrowed collateral netting | ' | ||||||||||||||||||||||||||||
The following table presents information as of June 30, 2014, and December 31, 2013, 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. | |||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | ||||||||||||||||||||||||||||
Amounts not nettable on the Consolidated Balance Sheets(a) | Amounts not nettable on the Consolidated Balance Sheets(a) | ||||||||||||||||||||||||||||
(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 | $ | 241,504 | $ | (238,035 | ) | $ | (192 | ) | $ | 3,277 | $ | 239,406 | $ | (234,495 | ) | $ | (98 | ) | $ | 4,813 | |||||||||
Securities borrowed | $ | 86,802 | $ | (84,106 | ) | $ | — | $ | 2,696 | $ | 84,531 | $ | (81,127 | ) | $ | — | $ | 3,404 | |||||||||||
(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 June 30, 2014, and December 31, 2013, 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. | |||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Gross liability balance | Amounts netted | Net liability balance | Gross liability balance | Amounts netted | Net liability balance | |||||||||||||||||||||||
on the Consolidated Balance Sheets | on the Consolidated Balance Sheets | ||||||||||||||||||||||||||||
Securities sold under repurchase agreements | |||||||||||||||||||||||||||||
Securities sold under repurchase agreements with an appropriate legal opinion | $ | 300,208 | $ | (124,143 | ) | $ | 176,065 | $ | 257,630 | (f) | $ | (115,408 | ) | $ | 142,222 | (f) | |||||||||||||
Securities sold under repurchase agreements where an appropriate legal opinion has not been either sought or obtained(a) | 18,910 | 18,910 | 18,143 | (f) | 18,143 | (f) | |||||||||||||||||||||||
Total securities sold under repurchase agreements | $ | 319,118 | $ | (124,143 | ) | $ | 194,975 | (c) | $ | 275,773 | $ | (115,408 | ) | $ | 160,365 | (c) | |||||||||||||
Securities loaned(b) | $ | 26,206 | NA | $ | 26,206 | (d)(e) | $ | 25,769 | NA | $ | 25,769 | (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 $5.7 billion and $5.8 billion at June 30, 2014, and December 31, 2013, respectively, when acting as lender and as presented within other liabilities in the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
(c) | At June 30, 2014, and December 31, 2013, included securities sold under repurchase agreements of $2.6 billion and $4.9 billion, respectively, accounted for at fair value. | ||||||||||||||||||||||||||||
(d) | At December 31, 2013, included securities loaned of $483 million accounted for at fair value; there were no securities loaned accounted for at fair value as of June 30, 2014. | ||||||||||||||||||||||||||||
(e) | Included $472 million and $397 million at June 30, 2014, and December 31, 2013, respectively, of securities loaned where an appropriate legal opinion has not been either sought or obtained with respect to the master netting agreement. | ||||||||||||||||||||||||||||
(f) | 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 sold under repurchase agreements & securities loaned collateral netting | ' | ||||||||||||||||||||||||||||
The following table presents information as of June 30, 2014, and December 31, 2013, 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. | |||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | ||||||||||||||||||||||||||||
Amounts not nettable | Amounts not nettable | ||||||||||||||||||||||||||||
on the Consolidated balance sheets(a) | on the Consolidated | ||||||||||||||||||||||||||||
balance sheets(a) | |||||||||||||||||||||||||||||
(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 | $ | 176,065 | $ | (173,730 | ) | $ | (345 | ) | $ | 1,990 | $ | 142,222 | (d) | $ | (139,051 | ) | (d) | $ | (450 | ) | $ | 2,721 | |||||||
Securities loaned | $ | 25,734 | $ | (25,390 | ) | $ | — | $ | 344 | $ | 25,372 | $ | (25,125 | ) | $ | — | $ | 247 | |||||||||||
(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. | ||||||||||||||||||||||||||||
(d) | The prior period amounts have been revised with a corresponding impact in the table above. This revision had no impact on the Firm’s Consolidated Balance Sheets or its results of operations. |
Loans_Tables
Loans (Tables) | 6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [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 special-purpose entities (“SPEs”) and loans to private banking clients. See Note 1 of JPMorgan Chase’s 2013 Annual Report for additional information on SPEs. | |||||||||||||||||||||||||||||||||||||||||||
Schedule of Loans by Portfolio Segment and Class | ' | |||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the Firm’s loan balances by portfolio segment. | ||||||||||||||||||||||||||||||||||||||||||||
June 30, 2014 | Consumer, excluding credit card | Credit card(a) | Wholesale | Total | ||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Retained | $ | 288,214 | $ | 125,621 | $ | 321,534 | $ | 735,369 | (b) | |||||||||||||||||||||||||||||||||||
Held-for-sale | 964 | 508 | 5,839 | 7,311 | ||||||||||||||||||||||||||||||||||||||||
At fair value | — | — | 4,303 | 4,303 | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 289,178 | $ | 126,129 | $ | 331,676 | $ | 746,983 | ||||||||||||||||||||||||||||||||||||
31-Dec-13 | 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 | ||||||||||||||||||||||||||||||||||||
(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 at both June 30, 2014, and December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||
Schedule Of Retained Loans Purchases Sales And Transfer Into Held For Sale By Portfolio Segment | ' | |||||||||||||||||||||||||||||||||||||||||||
The following tables provide 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. | ||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||
Three months ended | Consumer, excluding credit card | Credit card | Wholesale | Total | Consumer, excluding credit card | Credit card | Wholesale | Total | ||||||||||||||||||||||||||||||||||||
June 30, | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Purchases | $ | 2,167 | (a)(b) | $ | — | $ | 156 | $ | 2,323 | $ | 1,590 | (a)(b) | $ | 328 | $ | 191 | $ | 2,109 | ||||||||||||||||||||||||||
Sales | 1,352 | — | 2,323 | 3,675 | 1,233 | — | 1,425 | 2,658 | ||||||||||||||||||||||||||||||||||||
Retained loans reclassified to held-for-sale | 802 | 215 | 212 | 1,229 | 708 | — | 677 | 1,385 | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||
Six months ended | Consumer, excluding credit card | Credit card | Wholesale | Total | Consumer, excluding credit card | Credit card | Wholesale | Total | ||||||||||||||||||||||||||||||||||||
June 30, | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Purchases | $ | 3,749 | (a)(b) | $ | — | $ | 277 | $ | 4,026 | $ | 4,215 | (a)(b) | $ | 328 | $ | 286 | $ | 4,829 | ||||||||||||||||||||||||||
Sales | 2,243 | — | 4,679 | 6,922 | 2,662 | — | 2,578 | 5,240 | ||||||||||||||||||||||||||||||||||||
Retained loans reclassified to held-for-sale | 802 | 215 | 509 | 1,526 | 708 | — | 1,021 | 1,729 | ||||||||||||||||||||||||||||||||||||
(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 $2.4 billion and $1.3 billion for the three months ended June 30, 2014 and 2013, respectively, and $4.1 billion and $2.2 billion for the six months ended June 30, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||||||||||
Schedule Of Net Gains Losses On Loan Sales By Portfolio Segment | ' | |||||||||||||||||||||||||||||||||||||||||||
The following table provides information about gains/(losses) on loan sales by portfolio segment. | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Six months ended | |||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||
Net gains/(losses) on sales of loans (including lower of cost or fair value adjustments)(a) | ||||||||||||||||||||||||||||||||||||||||||||
Consumer, excluding credit card | $ | 84 | $ | 112 | $ | 126 | $ | 256 | ||||||||||||||||||||||||||||||||||||
Credit card | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Wholesale | 3 | (14 | ) | 27 | (7 | ) | ||||||||||||||||||||||||||||||||||||||
Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) | $ | 87 | $ | 98 | $ | 153 | $ | 249 | ||||||||||||||||||||||||||||||||||||
(a) | Excludes sales related to loans accounted for at fair value. | |||||||||||||||||||||||||||||||||||||||||||
Consumer, excluding credit card | ' | |||||||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||
Schedule of Loans by Portfolio Segment and Class | ' | |||||||||||||||||||||||||||||||||||||||||||
The table below provides information about retained consumer loans, excluding credit card, by class. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | June 30, | December 31, | ||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||
Residential real estate – | ||||||||||||||||||||||||||||||||||||||||||||
excluding PCI | ||||||||||||||||||||||||||||||||||||||||||||
Home equity: | ||||||||||||||||||||||||||||||||||||||||||||
Senior lien | $ | 16,222 | $ | 17,113 | ||||||||||||||||||||||||||||||||||||||||
Junior lien | 38,263 | 40,750 | ||||||||||||||||||||||||||||||||||||||||||
Mortgages: | ||||||||||||||||||||||||||||||||||||||||||||
Prime, including option ARMs | 93,239 | 87,162 | ||||||||||||||||||||||||||||||||||||||||||
Subprime | 6,552 | 7,104 | ||||||||||||||||||||||||||||||||||||||||||
Other consumer loans | ||||||||||||||||||||||||||||||||||||||||||||
Auto | 53,042 | 52,757 | ||||||||||||||||||||||||||||||||||||||||||
Business banking | 19,453 | 18,951 | ||||||||||||||||||||||||||||||||||||||||||
Student and other | 11,325 | 11,557 | ||||||||||||||||||||||||||||||||||||||||||
Residential real estate – PCI | ||||||||||||||||||||||||||||||||||||||||||||
Home equity | 18,070 | 18,927 | ||||||||||||||||||||||||||||||||||||||||||
Prime mortgage | 11,302 | 12,038 | ||||||||||||||||||||||||||||||||||||||||||
Subprime mortgage | 3,947 | 4,175 | ||||||||||||||||||||||||||||||||||||||||||
Option ARMs | 16,799 | 17,915 | ||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 288,214 | $ | 288,449 | ||||||||||||||||||||||||||||||||||||||||
Credit card | ' | |||||||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators | ' | |||||||||||||||||||||||||||||||||||||||||||
The table below sets forth information about the Firm’s credit card loans. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | June 30, | December 31, | ||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||
Loan delinquency | ||||||||||||||||||||||||||||||||||||||||||||
Current and less than 30 days | $ | 123,849 | $ | 125,335 | ||||||||||||||||||||||||||||||||||||||||
past due and still accruing | ||||||||||||||||||||||||||||||||||||||||||||
30–89 days past due and still accruing | 910 | 1,108 | ||||||||||||||||||||||||||||||||||||||||||
90 or more days past due and still accruing | 862 | 1,022 | ||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans | — | — | ||||||||||||||||||||||||||||||||||||||||||
Total retained credit card loans | $ | 125,621 | $ | 127,465 | ||||||||||||||||||||||||||||||||||||||||
Loan delinquency ratios | ||||||||||||||||||||||||||||||||||||||||||||
% of 30+ days past due to total retained loans | 1.41 | % | 1.67 | % | ||||||||||||||||||||||||||||||||||||||||
% of 90+ days past due to total retained loans | 0.69 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||
Credit card loans by geographic region | ||||||||||||||||||||||||||||||||||||||||||||
California | $ | 17,040 | $ | 17,194 | ||||||||||||||||||||||||||||||||||||||||
Texas | 10,464 | 10,400 | ||||||||||||||||||||||||||||||||||||||||||
New York | 10,425 | 10,497 | ||||||||||||||||||||||||||||||||||||||||||
Illinois | 7,313 | 7,412 | ||||||||||||||||||||||||||||||||||||||||||
Florida | 7,039 | 7,178 | ||||||||||||||||||||||||||||||||||||||||||
New Jersey | 5,516 | 5,554 | ||||||||||||||||||||||||||||||||||||||||||
Ohio | 4,736 | 4,881 | ||||||||||||||||||||||||||||||||||||||||||
Pennsylvania | 4,347 | 4,462 | ||||||||||||||||||||||||||||||||||||||||||
Michigan | 3,502 | 3,618 | ||||||||||||||||||||||||||||||||||||||||||
Virginia | 3,172 | 3,239 | ||||||||||||||||||||||||||||||||||||||||||
All other | 52,067 | 53,030 | ||||||||||||||||||||||||||||||||||||||||||
Total retained credit card loans | $ | 125,621 | $ | 127,465 | ||||||||||||||||||||||||||||||||||||||||
Percentage of portfolio based on carrying value with estimated refreshed FICO scores | ||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 86.2 | % | 85.1 | % | ||||||||||||||||||||||||||||||||||||||||
Less than 660 | 13.8 | 14.9 | ||||||||||||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | June 30, | December 31, | ||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||
Impaired credit card loans with an allowance(a)(b) | ||||||||||||||||||||||||||||||||||||||||||||
Credit card loans with modified payment terms(c) | $ | 2,173 | $ | 2,746 | ||||||||||||||||||||||||||||||||||||||||
Modified credit card loans that have reverted to pre-modification payment terms(d) | 294 | 369 | ||||||||||||||||||||||||||||||||||||||||||
Total impaired credit card loans(e) | $ | 2,467 | $ | 3,115 | ||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses related to impaired credit card loans | $ | 583 | $ | 971 | ||||||||||||||||||||||||||||||||||||||||
(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 June 30, 2014, and December 31, 2013, $179 million and $226 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 $115 million and $143 million at June 30, 2014, and December 31, 2013, 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. | |||||||||||||||||||||||||||||||||||||||||||
(e) | Predominantly all impaired credit card loans are in the U.S. | |||||||||||||||||||||||||||||||||||||||||||
Impaired Financing Receivables, Average Recorded Investment | ' | |||||||||||||||||||||||||||||||||||||||||||
The following table presents average balances of impaired credit card loans and interest income recognized on those loans. | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Six months | |||||||||||||||||||||||||||||||||||||||||||
ended June 30, | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||
Average impaired credit card loans | $ | 2,617 | $ | 4,070 | $ | 2,776 | $ | 4,294 | ||||||||||||||||||||||||||||||||||||
Interest income on impaired credit card loans | 32 | 52 | 68 | 110 | ||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables, 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. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions, except weighted-average data) | Three months | Six months | ||||||||||||||||||||||||||||||||||||||||||
ended June 30, | ended June 30, | |||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans – before TDR | 15.05 | % | 15.38 | % | 15.04 | % | 15.44 | % | ||||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans – after TDR | 4.33 | 4.27 | 4.36 | 4.88 | ||||||||||||||||||||||||||||||||||||||||
Loans that redefaulted within one year of modification(a) | $ | 29 | $ | 41 | $ | 63 | $ | 85 | ||||||||||||||||||||||||||||||||||||
(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. | |||||||||||||||||||||||||||||||||||||||||||
Wholesale | ' | |||||||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators | ' | |||||||||||||||||||||||||||||||||||||||||||
The table below provides information by class of receivable for the retained loans in the Wholesale portfolio segment. | ||||||||||||||||||||||||||||||||||||||||||||
Commercial | Real estate | Financial | Government agencies | Other(d) | Total | |||||||||||||||||||||||||||||||||||||||
and industrial | institutions | retained loans | ||||||||||||||||||||||||||||||||||||||||||
(in millions, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | ||||||||||||||||||||||||||||||||
except ratios) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Loans by risk ratings | ||||||||||||||||||||||||||||||||||||||||||||
Investment-grade | $ | 58,802 | $ | 57,690 | $ | 56,282 | $ | 52,195 | $ | 30,736 | $ | 26,712 | $ | 9,362 | $ | 9,979 | $ | 80,509 | $ | 79,494 | $ | 235,691 | $ | 226,070 | ||||||||||||||||||||
Noninvestment-grade: | ||||||||||||||||||||||||||||||||||||||||||||
Noncriticized | 46,668 | 43,477 | 15,215 | 14,381 | 8,048 | 6,674 | 280 | 440 | 9,776 | 10,992 | 79,987 | 75,964 | ||||||||||||||||||||||||||||||||
Criticized performing | 2,625 | 2,385 | 1,841 | 2,229 | 235 | 272 | 3 | 42 | 425 | 480 | 5,129 | 5,408 | ||||||||||||||||||||||||||||||||
Criticized nonaccrual | 256 | 294 | 288 | 346 | 21 | 25 | — | 1 | 162 | 155 | 727 | 821 | ||||||||||||||||||||||||||||||||
Total noninvestment- | 49,549 | 46,156 | 17,344 | 16,956 | 8,304 | 6,971 | 283 | 483 | 10,363 | 11,627 | 85,843 | 82,193 | ||||||||||||||||||||||||||||||||
grade | ||||||||||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 108,351 | $ | 103,846 | $ | 73,626 | $ | 69,151 | $ | 39,040 | $ | 33,683 | $ | 9,645 | $ | 10,462 | $ | 90,872 | $ | 91,121 | $ | 321,534 | $ | 308,263 | ||||||||||||||||||||
% of total criticized to | 2.66 | % | 2.58 | % | 2.89 | % | 3.72 | % | 0.66 | % | 0.88 | % | 0.03 | % | 0.41 | % | 0.65 | % | 0.7 | % | 1.82 | % | 2.02 | % | ||||||||||||||||||||
total retained loans | ||||||||||||||||||||||||||||||||||||||||||||
% of nonaccrual loans | 0.24 | 0.28 | 0.39 | 0.5 | 0.05 | 0.07 | — | 0.01 | 0.18 | 0.17 | 0.23 | 0.27 | ||||||||||||||||||||||||||||||||
to total retained loans | ||||||||||||||||||||||||||||||||||||||||||||
Loans by geographic | ||||||||||||||||||||||||||||||||||||||||||||
distribution(a) | ||||||||||||||||||||||||||||||||||||||||||||
Total non-U.S. | $ | 35,397 | $ | 34,440 | $ | 2,765 | $ | 1,369 | $ | 25,531 | $ | 22,726 | $ | 1,421 | $ | 2,146 | $ | 44,589 | $ | 43,376 | $ | 109,703 | $ | 104,057 | ||||||||||||||||||||
Total U.S. | 72,954 | 69,406 | 70,861 | 67,782 | 13,509 | 10,957 | 8,224 | 8,316 | 46,283 | 47,745 | 211,831 | 204,206 | ||||||||||||||||||||||||||||||||
Total retained loans | $ | 108,351 | $ | 103,846 | $ | 73,626 | $ | 69,151 | $ | 39,040 | $ | 33,683 | $ | 9,645 | $ | 10,462 | $ | 90,872 | $ | 91,121 | $ | 321,534 | $ | 308,263 | ||||||||||||||||||||
Loan delinquency(b) | ||||||||||||||||||||||||||||||||||||||||||||
Current and less than | $ | 107,836 | $ | 103,357 | $ | 73,191 | $ | 68,627 | $ | 38,967 | $ | 33,426 | $ | 9,574 | $ | 10,421 | $ | 89,671 | $ | 89,717 | $ | 319,239 | $ | 305,548 | ||||||||||||||||||||
30 days past due and | ||||||||||||||||||||||||||||||||||||||||||||
still accruing | ||||||||||||||||||||||||||||||||||||||||||||
30–89 days past due | 233 | 181 | 125 | 164 | 50 | 226 | 18 | 40 | 1,032 | 1,233 | 1,458 | 1,844 | ||||||||||||||||||||||||||||||||
and still accruing | ||||||||||||||||||||||||||||||||||||||||||||
90 or more days | 26 | 14 | 22 | 14 | 2 | 6 | 53 | — | 7 | 16 | 110 | 50 | ||||||||||||||||||||||||||||||||
past due and | ||||||||||||||||||||||||||||||||||||||||||||
still accruing(c) | ||||||||||||||||||||||||||||||||||||||||||||
Criticized nonaccrual | 256 | 294 | 288 | 346 | 21 | 25 | — | 1 | 162 | 155 | 727 | 821 | ||||||||||||||||||||||||||||||||
Total retained loans | $ | 108,351 | $ | 103,846 | $ | 73,626 | $ | 69,151 | $ | 39,040 | $ | 33,683 | $ | 9,645 | $ | 10,462 | $ | 90,872 | $ | 91,121 | $ | 321,534 | $ | 308,263 | ||||||||||||||||||||
(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 Note 14 of JPMorgan Chase’s 2013 Annual Report. | |||||||||||||||||||||||||||||||||||||||||||
(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 of JPMorgan Chase’s 2013 Annual Report for additional information on SPEs. | |||||||||||||||||||||||||||||||||||||||||||
Impaired Financing Receivables | ' | |||||||||||||||||||||||||||||||||||||||||||
The table below sets forth information about the Firm’s wholesale impaired loans. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Commercial | Real estate | Financial | Government | Other | Total | ||||||||||||||||||||||||||||||||||||||
and industrial | institutions | agencies | retained loans | |||||||||||||||||||||||||||||||||||||||||
Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||||||||||||||||
With an allowance | $ | 232 | $ | 236 | $ | 200 | $ | 258 | $ | 5 | $ | 17 | $ | — | $ | 1 | $ | 104 | $ | 85 | $ | 541 | $ | 597 | ||||||||||||||||||||
Without an allowance(a) | 32 | 58 | 89 | 109 | 8 | 8 | — | — | 62 | 73 | 191 | 248 | ||||||||||||||||||||||||||||||||
Total impaired loans | $ | 264 | $ | 294 | $ | 289 | $ | 367 | $ | 13 | $ | 25 | $ | — | $ | 1 | $ | 166 | $ | 158 | $ | 732 | (c) | $ | 845 | (c) | ||||||||||||||||||
Allowance for loan losses related to impaired loans | $ | 60 | $ | 75 | $ | 43 | $ | 63 | $ | 11 | $ | 16 | $ | — | $ | — | $ | 24 | $ | 27 | $ | 138 | $ | 181 | ||||||||||||||||||||
Unpaid principal balance of impaired | 325 | 448 | 366 | 454 | 12 | 24 | — | 1 | 251 | 241 | 954 | 1,168 | ||||||||||||||||||||||||||||||||
loans(b) | ||||||||||||||||||||||||||||||||||||||||||||
(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 June 30, 2014, and December 31, 2013. 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. | |||||||||||||||||||||||||||||||||||||||||||
(c) | Based upon the domicile of the borrower, predominantly all wholesale impaired loans are in the U.S. | |||||||||||||||||||||||||||||||||||||||||||
Impaired Financing Receivables, Average Recorded Investment | ' | |||||||||||||||||||||||||||||||||||||||||||
The following table presents the Firm’s average impaired loans for the periods indicated. | ||||||||||||||||||||||||||||||||||||||||||||
Three months | Six months | |||||||||||||||||||||||||||||||||||||||||||
ended June 30, | ended June 30, | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 249 | $ | 387 | $ | 270 | $ | 496 | ||||||||||||||||||||||||||||||||||||
Real estate | 306 | 518 | 330 | 526 | ||||||||||||||||||||||||||||||||||||||||
Financial institutions | 19 | 11 | 21 | 9 | ||||||||||||||||||||||||||||||||||||||||
Government agencies | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Other | 159 | 226 | 164 | 225 | ||||||||||||||||||||||||||||||||||||||||
Total(a) | $ | 733 | $ | 1,142 | $ | 785 | $ | 1,256 | ||||||||||||||||||||||||||||||||||||
(a) | The related interest income on accruing impaired loans and interest income recognized on a cash basis were not material for the three and six months ended June 30, 2014 and 2013. | |||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables, Roll Forward | ' | |||||||||||||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Commercial and industrial | Real estate | Other (b) | Total | ||||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||
Beginning balance of TDRs | $ | 84 | $ | 254 | $ | 78 | $ | 124 | $ | 31 | $ | 43 | $ | 193 | $ | 421 | ||||||||||||||||||||||||||||
New TDRs | 25 | $ | 27 | — | 10 | 3 | 15 | 28 | 52 | |||||||||||||||||||||||||||||||||||
Increases to existing TDRs | 10 | 1 | — | — | — | — | 10 | 1 | ||||||||||||||||||||||||||||||||||||
Charge-offs post-modification | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Sales and other(a) | (9 | ) | (173 | ) | (4 | ) | (23 | ) | (12 | ) | (24 | ) | (25 | ) | (220 | ) | ||||||||||||||||||||||||||||
Ending balance of TDRs | $ | 110 | $ | 109 | $ | 74 | $ | 111 | $ | 22 | $ | 34 | $ | 206 | $ | 254 | ||||||||||||||||||||||||||||
Six months ended June 30, | Commercial and industrial | Real estate | Other (b) | Total | ||||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||
Beginning balance of TDRs | $ | 77 | $ | 575 | $ | 88 | $ | 99 | $ | 33 | $ | 22 | $ | 198 | $ | 696 | ||||||||||||||||||||||||||||
New TDRs | 48 | $ | 41 | 10 | 41 | 3 | 37 | 61 | 119 | |||||||||||||||||||||||||||||||||||
Increases to existing TDRs | 11 | 4 | — | — | — | — | 11 | 4 | ||||||||||||||||||||||||||||||||||||
Charge-offs post-modification | — | (1 | ) | — | (3 | ) | (1 | ) | — | (1 | ) | (4 | ) | |||||||||||||||||||||||||||||||
Sales and other(a) | (26 | ) | (510 | ) | (24 | ) | (26 | ) | (13 | ) | (25 | ) | (63 | ) | (561 | ) | ||||||||||||||||||||||||||||
Ending balance of TDRs | $ | 110 | $ | 109 | $ | 74 | $ | 111 | $ | 22 | $ | 34 | $ | 206 | $ | 254 | ||||||||||||||||||||||||||||
TDRs on nonaccrual status | $ | 110 | $ | 102 | $ | 67 | $ | 82 | $ | 19 | $ | 27 | $ | 196 | $ | 211 | ||||||||||||||||||||||||||||
Additional commitments to lend to borrowers whose loans have been modified in TDRs | 145 | 22 | — | — | — | 1 | 145 | 23 | ||||||||||||||||||||||||||||||||||||
(a) | Sales and other are largely sales and paydowns. | |||||||||||||||||||||||||||||||||||||||||||
(b) | Includes loans to Financial institutions, Government agencies and Other. | |||||||||||||||||||||||||||||||||||||||||||
Residential Real Estate, Excluding Purchased Credit-Impaired | Consumer, excluding credit card | ' | |||||||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||
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 | Mortgages | |||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | Senior lien | Junior lien | Prime, including | Subprime | Total residential real estate – excluding PCI | |||||||||||||||||||||||||||||||||||||||
option ARMs | ||||||||||||||||||||||||||||||||||||||||||||
Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||
Loan delinquency(a) | ||||||||||||||||||||||||||||||||||||||||||||
Current | $ | 15,630 | $ | 16,470 | $ | 37,503 | $ | 39,864 | $ | 82,780 | $ | 76,108 | $ | 5,618 | $ | 5,956 | $ | 141,531 | $ | 138,398 | ||||||||||||||||||||||||
30–149 days past due | 251 | 298 | 526 | 662 | 3,466 | 3,155 | 569 | 646 | 4,812 | 4,761 | ||||||||||||||||||||||||||||||||||
150 or more days past due | 341 | 345 | 234 | 224 | 6,993 | 7,899 | 365 | 502 | 7,933 | 8,970 | ||||||||||||||||||||||||||||||||||
Total retained loans | $ | 16,222 | $ | 17,113 | $ | 38,263 | $ | 40,750 | $ | 93,239 | $ | 87,162 | $ | 6,552 | $ | 7,104 | $ | 154,276 | $ | 152,129 | ||||||||||||||||||||||||
% of 30+ days past due to | 3.65 | % | 3.76 | % | 1.99 | % | 2.17 | % | 1.75 | % | 2.32 | % | 14.26 | % | 16.16 | % | 2.54 | % | 3.09 | % | ||||||||||||||||||||||||
total retained loans(b) | ||||||||||||||||||||||||||||||||||||||||||||
90 or more days past due and | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
still accruing | ||||||||||||||||||||||||||||||||||||||||||||
90 or more days past due and | — | — | — | — | 7,326 | 7,823 | — | — | 7,326 | 7,823 | ||||||||||||||||||||||||||||||||||
government guaranteed(c) | ||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans | 909 | 932 | 1,671 | 1,876 | 2,455 | 2,666 | 1,273 | 1,390 | 6,308 | 6,864 | ||||||||||||||||||||||||||||||||||
Current estimated LTV ratios(d)(e)(f) | ||||||||||||||||||||||||||||||||||||||||||||
Greater than 125% and refreshed | ||||||||||||||||||||||||||||||||||||||||||||
FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | $ | 22 | $ | 40 | $ | 628 | $ | 1,101 | $ | 954 | $ | 1,084 | $ | 22 | $ | 52 | $ | 1,626 | $ | 2,277 | ||||||||||||||||||||||||
Less than 660 | 12 | 22 | 192 | 346 | 181 | 303 | 102 | 197 | 487 | 868 | ||||||||||||||||||||||||||||||||||
101% to 125% and refreshed | ||||||||||||||||||||||||||||||||||||||||||||
FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 150 | 212 | 3,510 | 4,645 | 932 | 1,433 | 176 | 249 | 4,768 | 6,539 | ||||||||||||||||||||||||||||||||||
Less than 660 | 74 | 107 | 1,012 | 1,407 | 451 | 687 | 428 | 597 | 1,965 | 2,798 | ||||||||||||||||||||||||||||||||||
80% to 100% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 654 | 858 | 7,165 | 7,995 | 3,800 | 4,528 | 545 | 614 | 12,164 | 13,995 | ||||||||||||||||||||||||||||||||||
Less than 660 | 258 | 326 | 1,924 | 2,128 | 1,243 | 1,579 | 976 | 1,141 | 4,401 | 5,174 | ||||||||||||||||||||||||||||||||||
Less than 80% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 12,794 | 13,186 | 20,357 | 19,732 | 66,928 | 58,477 | 2,011 | 1,961 | 102,090 | 93,356 | ||||||||||||||||||||||||||||||||||
Less than 660 | 2,258 | 2,362 | 3,475 | 3,396 | 5,286 | 5,359 | 2,292 | 2,293 | 13,311 | 13,410 | ||||||||||||||||||||||||||||||||||
U.S. government-guaranteed | — | — | — | — | 13,464 | 13,712 | — | — | 13,464 | 13,712 | ||||||||||||||||||||||||||||||||||
Total retained loans | $ | 16,222 | $ | 17,113 | $ | 38,263 | $ | 40,750 | $ | 93,239 | $ | 87,162 | $ | 6,552 | $ | 7,104 | $ | 154,276 | $ | 152,129 | ||||||||||||||||||||||||
Geographic region | ||||||||||||||||||||||||||||||||||||||||||||
California | $ | 2,286 | $ | 2,397 | $ | 8,680 | $ | 9,240 | $ | 24,057 | $ | 21,876 | $ | 994 | $ | 1,069 | $ | 36,017 | $ | 34,582 | ||||||||||||||||||||||||
New York | 2,636 | 2,732 | 7,987 | 8,429 | 14,976 | 14,085 | 867 | 942 | 26,466 | 26,188 | ||||||||||||||||||||||||||||||||||
Illinois | 1,199 | 1,248 | 2,655 | 2,815 | 5,699 | 5,216 | 257 | 280 | 9,810 | 9,559 | ||||||||||||||||||||||||||||||||||
Florida | 806 | 847 | 2,029 | 2,167 | 4,778 | 4,598 | 825 | 885 | 8,438 | 8,497 | ||||||||||||||||||||||||||||||||||
Texas | 1,875 | 2,044 | 1,106 | 1,199 | 4,041 | 3,565 | 202 | 220 | 7,224 | 7,028 | ||||||||||||||||||||||||||||||||||
New Jersey | 609 | 630 | 2,323 | 2,442 | 2,878 | 2,679 | 306 | 339 | 6,116 | 6,090 | ||||||||||||||||||||||||||||||||||
Arizona | 957 | 1,019 | 1,704 | 1,827 | 1,525 | 1,385 | 135 | 144 | 4,321 | 4,375 | ||||||||||||||||||||||||||||||||||
Washington | 531 | 555 | 1,300 | 1,378 | 2,084 | 1,951 | 138 | 150 | 4,053 | 4,034 | ||||||||||||||||||||||||||||||||||
Michigan | 757 | 799 | 907 | 976 | 1,061 | 998 | 165 | 178 | 2,890 | 2,951 | ||||||||||||||||||||||||||||||||||
Ohio | 1,219 | 1,298 | 832 | 907 | 509 | 466 | 147 | 161 | 2,707 | 2,832 | ||||||||||||||||||||||||||||||||||
All other(g) | 3,347 | 3,544 | 8,740 | 9,370 | 31,631 | 30,343 | 2,516 | 2,736 | 46,234 | 45,993 | ||||||||||||||||||||||||||||||||||
Total retained loans | $ | 16,222 | $ | 17,113 | $ | 38,263 | $ | 40,750 | $ | 93,239 | $ | 87,162 | $ | 6,552 | $ | 7,104 | $ | 154,276 | $ | 152,129 | ||||||||||||||||||||||||
(a) | Individual delinquency classifications include mortgage loans insured by U.S. government agencies as follows: current included $4.6 billion and $4.7 billion; 30–149 days past due included $2.9 billion and $2.4 billion; and 150 or more days past due included $6.0 billion and $6.6 billion at June 30, 2014, and December 31, 2013, respectively. | |||||||||||||||||||||||||||||||||||||||||||
(b) | At June 30, 2014, and December 31, 2013, Prime, including option ARMs loans excluded mortgage loans insured by U.S. government agencies of $8.8 billion and $9.0 billion, respectively. These amounts have been excluded from nonaccrual loans based upon the government guarantee. | |||||||||||||||||||||||||||||||||||||||||||
(c) | 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 June 30, 2014, and December 31, 2013, these balances included $4.3 billion and $4.7 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. | |||||||||||||||||||||||||||||||||||||||||||
(d) | 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. | |||||||||||||||||||||||||||||||||||||||||||
(e) | 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. | |||||||||||||||||||||||||||||||||||||||||||
(f) | Refreshed FICO scores represent each borrower’s most recent credit score, which is obtained by the Firm on at least a quarterly basis. | |||||||||||||||||||||||||||||||||||||||||||
(g) | At June 30, 2014, and December 31, 2013, included mortgage loans insured by U.S. government agencies of $13.5 billion and $13.7 billion, respectively. | |||||||||||||||||||||||||||||||||||||||||||
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 troubled debt restructuring (“TDR”). All impaired loans are evaluated for an asset-specific allowance as described in Note 14. | ||||||||||||||||||||||||||||||||||||||||||||
Home equity | Mortgages | Total residential | ||||||||||||||||||||||||||||||||||||||||||
real estate | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Senior lien | Junior lien | Prime, including | Subprime | – excluding PCI | |||||||||||||||||||||||||||||||||||||||
option ARMs | ||||||||||||||||||||||||||||||||||||||||||||
Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||||||||||||||||
With an allowance | $ | 556 | $ | 567 | $ | 724 | $ | 727 | $ | 5,443 | $ | 5,871 | $ | 2,724 | $ | 2,989 | $ | 9,447 | $ | 10,154 | ||||||||||||||||||||||||
Without an allowance(a) | 563 | 579 | 586 | 592 | 1,275 | 1,133 | 754 | 709 | 3,178 | 3,013 | ||||||||||||||||||||||||||||||||||
Total impaired loans(b)(c) | $ | 1,119 | $ | 1,146 | $ | 1,310 | $ | 1,319 | $ | 6,718 | $ | 7,004 | $ | 3,478 | $ | 3,698 | $ | 12,625 | $ | 13,167 | ||||||||||||||||||||||||
Allowance for loan losses related to impaired loans | $ | 97 | $ | 94 | $ | 170 | $ | 162 | $ | 139 | $ | 144 | $ | 87 | $ | 94 | $ | 493 | $ | 494 | ||||||||||||||||||||||||
Unpaid principal balance of impaired loans(d) | 1,480 | 1,515 | 2,635 | 2,625 | 8,582 | 8,990 | 5,069 | 5,461 | 17,766 | 18,591 | ||||||||||||||||||||||||||||||||||
Impaired loans on nonaccrual status(e) | 629 | 641 | 641 | 666 | 1,703 | 1,737 | 1,078 | 1,127 | 4,051 | 4,171 | ||||||||||||||||||||||||||||||||||
(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 June 30, 2014, and December 31, 2013, $6.7 billion and $7.6 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) | Predominantly all residential real estate impaired loans, excluding PCI loans, are in the U.S. | |||||||||||||||||||||||||||||||||||||||||||
(d) | Represents the contractual amount of principal owed at June 30, 2014, and December 31, 2013. 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. | |||||||||||||||||||||||||||||||||||||||||||
(e) | As of June 30, 2014, and December 31, 2013, nonaccrual loans included $3.1 billion and $3.0 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 in Note 14 of JPMorgan Chase’s 2013 Annual Report. | |||||||||||||||||||||||||||||||||||||||||||
Impaired Financing Receivables, Average Recorded Investment | ' | |||||||||||||||||||||||||||||||||||||||||||
The following tables present average impaired loans and the related interest income reported by the Firm. | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Average impaired loans | Interest income on | Interest income on impaired | |||||||||||||||||||||||||||||||||||||||||
impaired loans(a) | loans on a cash basis(a) | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||
Home equity | ||||||||||||||||||||||||||||||||||||||||||||
Senior lien | $ | 1,128 | $ | 1,158 | $ | 14 | $ | 14 | $ | 10 | $ | 10 | ||||||||||||||||||||||||||||||||
Junior lien | 1,316 | 1,296 | 20 | 21 | 13 | 14 | ||||||||||||||||||||||||||||||||||||||
Mortgages | ||||||||||||||||||||||||||||||||||||||||||||
Prime, including option ARMs | 6,823 | 7,219 | 66 | 70 | 14 | 15 | ||||||||||||||||||||||||||||||||||||||
Subprime | 3,578 | 3,833 | 47 | 50 | 13 | 14 | ||||||||||||||||||||||||||||||||||||||
Total residential real estate – excluding PCI | $ | 12,845 | $ | 13,506 | $ | 147 | $ | 155 | $ | 50 | $ | 53 | ||||||||||||||||||||||||||||||||
Six months ended June 30, | Average impaired loans | Interest income on | Interest income on impaired | |||||||||||||||||||||||||||||||||||||||||
impaired loans(a) | loans on a cash basis(a) | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||
Home equity | ||||||||||||||||||||||||||||||||||||||||||||
Senior lien | $ | 1,135 | $ | 1,149 | $ | 28 | $ | 29 | $ | 19 | $ | 20 | ||||||||||||||||||||||||||||||||
Junior lien | 1,318 | 1,284 | 41 | 41 | 27 | 27 | ||||||||||||||||||||||||||||||||||||||
Mortgages | ||||||||||||||||||||||||||||||||||||||||||||
Prime, including option ARMs | 6,889 | 7,203 | 134 | 139 | 27 | 29 | ||||||||||||||||||||||||||||||||||||||
Subprime | 3,623 | 3,830 | 96 | 100 | 26 | 29 | ||||||||||||||||||||||||||||||||||||||
Total residential real estate – excluding PCI | $ | 12,965 | $ | 13,466 | $ | 299 | $ | 309 | $ | 99 | $ | 105 | ||||||||||||||||||||||||||||||||
(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 | ' | |||||||||||||||||||||||||||||||||||||||||||
The following tables reconcile the beginning and ending balances of residential real estate loans, excluding PCI loans, modified in TDRs for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Home equity | Mortgages | Total residential | |||||||||||||||||||||||||||||||||||||||||
June 30, | Senior lien | Junior lien | Prime, including option ARMs | Subprime | real estate – excluding PCI | |||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||
Beginning balance of TDRs | $ | 1,136 | $ | 1,155 | $ | 1,319 | $ | 1,286 | $ | 6,894 | $ | 7,223 | $ | 3,625 | $ | 3,843 | $ | 12,974 | $ | 13,507 | ||||||||||||||||||||||||
New TDRs | 20 | 39 | 46 | 94 | 52 | 318 | 25 | 89 | 143 | 540 | ||||||||||||||||||||||||||||||||||
Charge-offs post-modification(a) | (5 | ) | (8 | ) | (11 | ) | (24 | ) | (4 | ) | (14 | ) | (11 | ) | (27 | ) | (31 | ) | (73 | ) | ||||||||||||||||||||||||
Foreclosures and other liquidations (e.g., short sales) | (5 | ) | (5 | ) | (4 | ) | (7 | ) | (16 | ) | (39 | ) | (9 | ) | (19 | ) | (34 | ) | (70 | ) | ||||||||||||||||||||||||
Principal payments and other | (27 | ) | (21 | ) | (40 | ) | (34 | ) | (208 | ) | (185 | ) | (152 | ) | (61 | ) | (427 | ) | (301 | ) | ||||||||||||||||||||||||
Ending balance of TDRs | $ | 1,119 | $ | 1,160 | $ | 1,310 | $ | 1,315 | $ | 6,718 | $ | 7,303 | $ | 3,478 | $ | 3,825 | $ | 12,625 | $ | 13,603 | ||||||||||||||||||||||||
Permanent modifications | $ | 1,083 | $ | 1,117 | $ | 1,306 | $ | 1,309 | $ | 6,625 | $ | 7,035 | $ | 3,404 | $ | 3,676 | $ | 12,418 | $ | 13,137 | ||||||||||||||||||||||||
Trial modifications | $ | 36 | $ | 43 | $ | 4 | $ | 6 | $ | 93 | $ | 268 | $ | 74 | $ | 149 | $ | 207 | $ | 466 | ||||||||||||||||||||||||
Six months ended | Home equity | Mortgages | Total residential | |||||||||||||||||||||||||||||||||||||||||
June 30, | Senior lien | Junior lien | Prime, including option ARMs | Subprime | real estate – excluding PCI | |||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||
Beginning balance of TDRs | $ | 1,146 | $ | 1,092 | $ | 1,319 | $ | 1,223 | $ | 7,004 | $ | 7,118 | $ | 3,698 | $ | 3,812 | $ | 13,167 | $ | 13,245 | ||||||||||||||||||||||||
New TDRs | 47 | 140 | 104 | 229 | 119 | 628 | 53 | 217 | 323 | 1,214 | ||||||||||||||||||||||||||||||||||
Charge-offs post-modification(a) | (11 | ) | (18 | ) | (30 | ) | (57 | ) | (11 | ) | (33 | ) | (33 | ) | (65 | ) | (85 | ) | (173 | ) | ||||||||||||||||||||||||
Foreclosures and other liquidations (e.g., short sales) | (11 | ) | (9 | ) | (6 | ) | (11 | ) | (44 | ) | (74 | ) | (21 | ) | (38 | ) | (82 | ) | (132 | ) | ||||||||||||||||||||||||
Principal payments and other | (52 | ) | (45 | ) | (77 | ) | (69 | ) | (350 | ) | (336 | ) | (219 | ) | (101 | ) | (698 | ) | (551 | ) | ||||||||||||||||||||||||
Ending balance of TDRs | $ | 1,119 | $ | 1,160 | $ | 1,310 | $ | 1,315 | $ | 6,718 | $ | 7,303 | $ | 3,478 | $ | 3,825 | $ | 12,625 | $ | 13,603 | ||||||||||||||||||||||||
Permanent modifications | $ | 1,083 | $ | 1,117 | $ | 1,306 | $ | 1,309 | $ | 6,625 | $ | 7,035 | $ | 3,404 | $ | 3,676 | $ | 12,418 | $ | 13,137 | ||||||||||||||||||||||||
Trial modifications | $ | 36 | $ | 43 | $ | 4 | $ | 6 | $ | 93 | $ | 268 | $ | 74 | $ | 149 | $ | 207 | $ | 466 | ||||||||||||||||||||||||
(a) | Includes charge-offs on unsuccessful trial modifications. | |||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables, Nature and Extent of Modifications | ' | |||||||||||||||||||||||||||||||||||||||||||
The following tables provide information about how residential real estate loans, excluding PCI loans, were modified under the Firm’s loss mitigation programs during the periods presented. These tables exclude Chapter 7 loans where the sole concession granted is the discharge of debt. At June 30, 2014, there were approximately 35,200 of such Chapter 7 loans, consisting of approximately 8,300 senior lien home equity loans, 21,200 junior lien home equity loans, 2,900 prime mortgage, including option ARMs, and 2,800 subprime mortgages. | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Home equity | Mortgages | Total residential | |||||||||||||||||||||||||||||||||||||||||
real estate - | ||||||||||||||||||||||||||||||||||||||||||||
Senior lien | Junior lien | Prime, including option ARMs | Subprime | excluding PCI | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||
Number of loans approved for a trial modification | 218 | 562 | 157 | 172 | 261 | 856 | 529 | 1,123 | 1,165 | 2,713 | ||||||||||||||||||||||||||||||||||
Number of loans permanently modified | 226 | 405 | 699 | 1,353 | 386 | 1,137 | 493 | 1,458 | 1,804 | 4,353 | ||||||||||||||||||||||||||||||||||
Concession granted:(a) | ||||||||||||||||||||||||||||||||||||||||||||
Interest rate reduction | 64 | % | 70 | % | 88 | % | 85 | % | 65 | % | 73 | % | 68 | % | 72 | % | 75 | % | 76 | % | ||||||||||||||||||||||||
Term or payment extension | 86 | 73 | 83 | 76 | 79 | 69 | 71 | 53 | 79 | 66 | ||||||||||||||||||||||||||||||||||
Principal and/or interest deferred | 12 | 11 | 22 | 25 | 30 | 29 | 15 | 12 | 20 | 20 | ||||||||||||||||||||||||||||||||||
Principal forgiveness | 30 | 37 | 29 | 33 | 22 | 39 | 35 | 46 | 29 | 39 | ||||||||||||||||||||||||||||||||||
Other(b) | — | — | — | — | 18 | 24 | 9 | 13 | 6 | 11 | ||||||||||||||||||||||||||||||||||
Six months ended June 30, | Home equity | Mortgages | Total residential | |||||||||||||||||||||||||||||||||||||||||
real estate - | ||||||||||||||||||||||||||||||||||||||||||||
Senior lien | Junior lien | Prime, including option ARMs | Subprime | excluding PCI | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||
Number of loans approved for a trial modification | 419 | 1,062 | 341 | 368 | 516 | 1,832 | 1,028 | 2,612 | 2,304 | 5,874 | ||||||||||||||||||||||||||||||||||
Number of loans permanently modified | 521 | 950 | 1,657 | 2,669 | 917 | 2,613 | 1,260 | 3,147 | 4,355 | 9,379 | ||||||||||||||||||||||||||||||||||
Concession granted:(a) | ||||||||||||||||||||||||||||||||||||||||||||
Interest rate reduction | 65 | % | 72 | % | 86 | % | 88 | % | 62 | % | 74 | % | 63 | % | 71 | % | 72 | % | 77 | % | ||||||||||||||||||||||||
Term or payment extension | 83 | 73 | 83 | 77 | 84 | 69 | 72 | 51 | 80 | 66 | ||||||||||||||||||||||||||||||||||
Principal and/or interest deferred | 14 | 10 | 22 | 24 | 32 | 28 | 18 | 11 | 22 | 19 | ||||||||||||||||||||||||||||||||||
Principal forgiveness | 30 | 38 | 28 | 36 | 27 | 40 | 38 | 52 | 31 | 43 | ||||||||||||||||||||||||||||||||||
Other(b) | — | — | — | — | 17 | 24 | 12 | 15 | 7 | 12 | ||||||||||||||||||||||||||||||||||
(a) | 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. | |||||||||||||||||||||||||||||||||||||||||||
(b) | Represents variable interest rate to fixed interest rate modifications. | |||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables, Financial Effects of Modifications and Redefaults | ' | |||||||||||||||||||||||||||||||||||||||||||
The following tables provide 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 excludes Chapter 7 loans where the sole concession granted is the discharge of debt. | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Home equity | Mortgages | Total residential real estate – excluding PCI | |||||||||||||||||||||||||||||||||||||||||
(in millions, except weighted-average | Senior lien | Junior lien | Prime, including option ARMs | Subprime | ||||||||||||||||||||||||||||||||||||||||
data and number of loans) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 6.58 | % | 6.78 | % | 4.94 | % | 5.1 | % | 5.17 | % | 5.09 | % | 7.28 | % | 7.26 | % | 5.82 | % | 5.76 | % | ||||||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.93 | 3.34 | 2.04 | 2.28 | 2.54 | 2.78 | 3.47 | 3.5 | 2.72 | 2.94 | ||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 17 | 17 | 19 | 19 | 25 | 25 | 24 | 24 | 23 | 24 | ||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 29 | 31 | 34 | 34 | 37 | 37 | 35 | 35 | 35 | 36 | ||||||||||||||||||||||||||||||||||
Charge-offs recognized upon permanent modification | $ | — | $ | 2 | $ | 8 | $ | 23 | $ | 2 | $ | 6 | $ | — | $ | 3 | $ | 10 | $ | 34 | ||||||||||||||||||||||||
Principal deferred | 1 | 1 | 3 | 7 | 10 | 32 | 4 | 11 | 18 | 51 | ||||||||||||||||||||||||||||||||||
Principal forgiven | 3 | 7 | 6 | 13 | 8 | 57 | 11 | 55 | 28 | 132 | ||||||||||||||||||||||||||||||||||
Number of loans that redefaulted within one year of permanent modification(a) | 67 | 95 | 195 | 248 | 163 | 189 | 269 | 317 | 694 | 849 | ||||||||||||||||||||||||||||||||||
Balance of loans that redefaulted within one year of permanent modification(a) | $ | 4 | $ | 7 | $ | 3 | $ | 6 | $ | 44 | $ | 54 | $ | 28 | $ | 31 | $ | 79 | $ | 98 | ||||||||||||||||||||||||
Six months ended June 30, | Home equity | Mortgages | Total residential real estate – excluding PCI | |||||||||||||||||||||||||||||||||||||||||
(in millions, except weighted-average | Senior lien | Junior lien | Prime, including option ARMs | Subprime | ||||||||||||||||||||||||||||||||||||||||
data and number of loans) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 6.63 | % | 6.53 | % | 4.83 | % | 5.14 | % | 5.2 | % | 5.37 | % | 7.44 | % | 7.48 | % | 5.88 | % | 5.99 | % | ||||||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.98 | 3.44 | 1.91 | 2.22 | 2.67 | 2.83 | 3.43 | 3.54 | 2.75 | 2.98 | ||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 18 | 18 | 19 | 19 | 24 | 24 | 24 | 24 | 23 | 23 | ||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 30 | 31 | 35 | 34 | 37 | 37 | 36 | 34 | 36 | 35 | ||||||||||||||||||||||||||||||||||
Charge-offs recognized upon permanent modification | $ | 1 | $ | 4 | $ | 22 | $ | 42 | $ | 4 | $ | 11 | $ | 1 | $ | 6 | $ | 28 | $ | 63 | ||||||||||||||||||||||||
Principal deferred | 2 | 3 | 6 | 14 | 23 | 67 | 11 | 21 | 42 | 105 | ||||||||||||||||||||||||||||||||||
Principal forgiven | 6 | 17 | 17 | 29 | 25 | 130 | 32 | 139 | 80 | 315 | ||||||||||||||||||||||||||||||||||
Number of loans that redefaulted within one year of permanent modification(a) | 133 | 226 | 388 | 594 | 285 | 397 | 436 | 629 | 1,242 | 1,846 | ||||||||||||||||||||||||||||||||||
Balance of loans that redefaulted within one year of permanent modification(a) | $ | 10 | $ | 17 | $ | 6 | $ | 13 | $ | 70 | $ | 104 | $ | 43 | $ | 63 | $ | 129 | $ | 197 | ||||||||||||||||||||||||
(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. | |||||||||||||||||||||||||||||||||||||||||||
Home Equity - Junior Lien | Consumer, excluding credit card | ' | |||||||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators | ' | |||||||||||||||||||||||||||||||||||||||||||
The following tables represent the Firm’s delinquency statistics for junior lien home equity loans and lines as of June 30, 2014, and December 31, 2013. | ||||||||||||||||||||||||||||||||||||||||||||
Delinquencies | Total 30+ day delinquency rate | |||||||||||||||||||||||||||||||||||||||||||
30-Jun-14 | 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) | $ | 254 | $ | 85 | $ | 144 | $ | 28,300 | 1.71 | % | ||||||||||||||||||||||||||||||||||
Beyond the revolving period | 77 | 24 | 74 | 6,443 | 2.72 | |||||||||||||||||||||||||||||||||||||||
HELOANs | 65 | 21 | 16 | 3,520 | 2.9 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 396 | $ | 130 | $ | 234 | $ | 38,263 | 1.99 | % | ||||||||||||||||||||||||||||||||||
Delinquencies | Total 30+ day delinquency rate | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | 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 | % | ||||||||||||||||||||||||||||||||||
(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. | ||||||||||||||||||||||||||||||||||||||||||||
Purchased Credit-Impaired | Consumer, excluding credit card | ' | |||||||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators | ' | |||||||||||||||||||||||||||||||||||||||||||
The table below sets forth information about the Firm’s consumer, excluding credit card, PCI loans. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | Home equity | Prime mortgage | Subprime mortgage | Option ARMs | Total PCI | |||||||||||||||||||||||||||||||||||||||
Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||
Carrying value(a) | $ | 18,070 | $ | 18,927 | $ | 11,302 | $ | 12,038 | $ | 3,947 | $ | 4,175 | $ | 16,799 | $ | 17,915 | $ | 50,118 | $ | 53,055 | ||||||||||||||||||||||||
Related allowance for loan losses(b) | 1,758 | 1,758 | 1,617 | 1,726 | 180 | 180 | 194 | 494 | 3,749 | 4,158 | ||||||||||||||||||||||||||||||||||
Loan delinquency (based on unpaid principal balance) | ||||||||||||||||||||||||||||||||||||||||||||
Current | $ | 17,317 | $ | 18,135 | $ | 9,563 | $ | 10,118 | $ | 3,828 | $ | 4,012 | $ | 14,725 | $ | 15,501 | $ | 45,433 | $ | 47,766 | ||||||||||||||||||||||||
30–149 days past due | 465 | 583 | 538 | 589 | 591 | 662 | 930 | 1,006 | 2,524 | 2,840 | ||||||||||||||||||||||||||||||||||
150 or more days past due | 1,067 | 1,112 | 986 | 1,169 | 683 | 797 | 2,183 | 2,716 | 4,919 | 5,794 | ||||||||||||||||||||||||||||||||||
Total loans | $ | 18,849 | $ | 19,830 | $ | 11,087 | $ | 11,876 | $ | 5,102 | $ | 5,471 | $ | 17,838 | $ | 19,223 | $ | 52,876 | $ | 56,400 | ||||||||||||||||||||||||
% of 30+ days past due to total loans | 8.13 | % | 8.55 | % | 13.75 | % | 14.8 | % | 24.97 | % | 26.67 | % | 17.45 | % | 19.36 | % | 14.08 | % | 15.31 | % | ||||||||||||||||||||||||
Current estimated LTV ratios (based on unpaid principal balance)(c)(d) | ||||||||||||||||||||||||||||||||||||||||||||
Greater than 125% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | $ | 772 | $ | 1,168 | $ | 118 | $ | 240 | $ | 74 | $ | 115 | $ | 156 | $ | 301 | $ | 1,120 | $ | 1,824 | ||||||||||||||||||||||||
Less than 660 | 411 | 662 | 158 | 290 | 274 | 459 | 309 | 575 | 1,152 | 1,986 | ||||||||||||||||||||||||||||||||||
101% to 125% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 2,568 | 3,248 | 715 | 1,017 | 249 | 316 | 784 | 1,164 | 4,316 | 5,745 | ||||||||||||||||||||||||||||||||||
Less than 660 | 1,189 | 1,541 | 552 | 884 | 688 | 919 | 1,052 | 1,563 | 3,481 | 4,907 | ||||||||||||||||||||||||||||||||||
80% to 100% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 4,365 | 4,473 | 2,400 | 2,787 | 552 | 544 | 2,741 | 3,311 | 10,058 | 11,115 | ||||||||||||||||||||||||||||||||||
Less than 660 | 1,758 | 1,782 | 1,537 | 1,699 | 1,131 | 1,197 | 2,339 | 2,769 | 6,765 | 7,447 | ||||||||||||||||||||||||||||||||||
Lower than 80% and refreshed FICO scores: | ||||||||||||||||||||||||||||||||||||||||||||
Equal to or greater than 660 | 5,739 | 5,077 | 3,425 | 2,897 | 641 | 521 | 6,410 | 5,671 | 16,215 | 14,166 | ||||||||||||||||||||||||||||||||||
Less than 660 | 2,047 | 1,879 | 2,182 | 2,062 | 1,493 | 1,400 | 4,047 | 3,869 | 9,769 | 9,210 | ||||||||||||||||||||||||||||||||||
Total unpaid principal balance | $ | 18,849 | $ | 19,830 | $ | 11,087 | $ | 11,876 | $ | 5,102 | $ | 5,471 | $ | 17,838 | $ | 19,223 | $ | 52,876 | $ | 56,400 | ||||||||||||||||||||||||
Geographic region (based on unpaid principal balance) | ||||||||||||||||||||||||||||||||||||||||||||
California | $ | 11,341 | $ | 11,937 | $ | 6,393 | $ | 6,845 | $ | 1,218 | $ | 1,293 | $ | 9,814 | $ | 10,419 | $ | 28,766 | $ | 30,494 | ||||||||||||||||||||||||
New York | 922 | 962 | 748 | 807 | 514 | 563 | 1,048 | 1,196 | 3,232 | 3,528 | ||||||||||||||||||||||||||||||||||
Illinois | 429 | 451 | 324 | 353 | 258 | 283 | 445 | 481 | 1,456 | 1,568 | ||||||||||||||||||||||||||||||||||
Florida | 1,786 | 1,865 | 772 | 826 | 494 | 526 | 1,631 | 1,817 | 4,683 | 5,034 | ||||||||||||||||||||||||||||||||||
Texas | 302 | 327 | 100 | 106 | 305 | 328 | 91 | 100 | 798 | 861 | ||||||||||||||||||||||||||||||||||
New Jersey | 362 | 381 | 316 | 334 | 187 | 213 | 614 | 701 | 1,479 | 1,629 | ||||||||||||||||||||||||||||||||||
Arizona | 343 | 361 | 179 | 187 | 90 | 95 | 245 | 264 | 857 | 907 | ||||||||||||||||||||||||||||||||||
Washington | 1,020 | 1,072 | 244 | 266 | 103 | 112 | 428 | 463 | 1,795 | 1,913 | ||||||||||||||||||||||||||||||||||
Michigan | 58 | 62 | 177 | 189 | 139 | 145 | 193 | 206 | 567 | 602 | ||||||||||||||||||||||||||||||||||
Ohio | 21 | 23 | 50 | 55 | 79 | 84 | 72 | 75 | 222 | 237 | ||||||||||||||||||||||||||||||||||
All other | 2,265 | 2,389 | 1,784 | 1,908 | 1,715 | 1,829 | 3,257 | 3,501 | 9,021 | 9,627 | ||||||||||||||||||||||||||||||||||
Total unpaid principal balance | $ | 18,849 | $ | 19,830 | $ | 11,087 | $ | 11,876 | $ | 5,102 | $ | 5,471 | $ | 17,838 | $ | 19,223 | $ | 52,876 | $ | 56,400 | ||||||||||||||||||||||||
(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 | ' | |||||||||||||||||||||||||||||||||||||||||||
The table below sets forth the accretable yield activity for the Firm’s PCI consumer loans for the three and six months ended June 30, 2014 and 2013, 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. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | Total PCI | |||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 15,782 | $ | 19,464 | $ | 16,167 | $ | 18,457 | ||||||||||||||||||||||||||||||||||||
Accretion into interest income | (495 | ) | (565 | ) | (1,009 | ) | (1,138 | ) | ||||||||||||||||||||||||||||||||||||
Changes in interest rates on variable-rate loans | (45 | ) | 49 | (66 | ) | (110 | ) | |||||||||||||||||||||||||||||||||||||
Other changes in expected cash flows(a) | 33 | (342 | ) | 183 | 1,397 | |||||||||||||||||||||||||||||||||||||||
Balance at June 30 | $ | 15,275 | $ | 18,606 | $ | 15,275 | $ | 18,606 | ||||||||||||||||||||||||||||||||||||
Accretable yield percentage | 4.24 | % | 4.38 | % | 4.28 | % | 4.36 | % | ||||||||||||||||||||||||||||||||||||
(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 three and six months ended June 30, 2014, and for the three months ended June 30, 2013, other changes in expected cash flows were driven by changes in prepayment assumptions. For the six months ended June 30, 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. | |||||||||||||||||||||||||||||||||||||||||||
PCI - Home Equity, Junior Lien | Consumer, excluding credit card | ' | |||||||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||
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 June 30, 2014, and December 31, 2013. | ||||||||||||||||||||||||||||||||||||||||||||
Delinquencies | Total 30+ day delinquency rate | |||||||||||||||||||||||||||||||||||||||||||
30-Jun-14 | 30–89 days past due | 90–149 days past due | 150+ days past due | Total loans | ||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | ||||||||||||||||||||||||||||||||||||||||||||
HELOCs:(a) | ||||||||||||||||||||||||||||||||||||||||||||
Within the revolving period(b) | $ | 174 | $ | 60 | $ | 467 | $ | 10,802 | 6.49 | % | ||||||||||||||||||||||||||||||||||
Beyond the revolving period(c) | 60 | 20 | 120 | 3,146 | 6.36 | |||||||||||||||||||||||||||||||||||||||
HELOANs | 20 | 8 | 40 | 812 | 8.37 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 254 | $ | 88 | $ | 627 | $ | 14,760 | 6.57 | % | ||||||||||||||||||||||||||||||||||
Delinquencies | Total 30+ day delinquency rate | |||||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | 30–89 days past due | 90–149 days past due | 150+ days past due | Total loans | ||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | ||||||||||||||||||||||||||||||||||||||||||||
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 | % | ||||||||||||||||||||||||||||||||||
(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. | |||||||||||||||||||||||||||||||||||||||||||
Other Consumer | Consumer, excluding credit card | ' | |||||||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators | ' | |||||||||||||||||||||||||||||||||||||||||||
The table below provides information for other consumer retained loan classes, including auto, business banking and student loans. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | Auto | Business banking | Student and other | Total other consumer | ||||||||||||||||||||||||||||||||||||||||
Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||
Loan delinquency(a) | ||||||||||||||||||||||||||||||||||||||||||||
Current | $ | 52,549 | $ | 52,152 | $ | 19,097 | $ | 18,511 | $ | 10,411 | $ | 10,529 | $ | 82,057 | $ | 81,192 | ||||||||||||||||||||||||||||
30–119 days past due | 489 | 599 | 204 | 280 | 621 | 660 | 1,314 | 1,539 | ||||||||||||||||||||||||||||||||||||
120 or more days past due | 4 | 6 | 152 | 160 | 293 | 368 | 449 | 534 | ||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 53,042 | $ | 52,757 | $ | 19,453 | $ | 18,951 | $ | 11,325 | $ | 11,557 | $ | 83,820 | $ | 83,265 | ||||||||||||||||||||||||||||
% of 30+ days past due to total retained loans | 0.93 | % | 1.15 | % | 1.83 | % | 2.32 | % | 2.51 | % | (d) | 2.52 | % | (d) | 1.35 | % | (d) | 1.6 | % | (d) | ||||||||||||||||||||||||
90 or more days past due and still accruing (b) | $ | — | $ | — | $ | — | $ | — | $ | 316 | $ | 428 | $ | 316 | $ | 428 | ||||||||||||||||||||||||||||
Nonaccrual loans | 103 | 161 | 326 | 385 | 170 | 86 | 599 | 632 | ||||||||||||||||||||||||||||||||||||
Geographic region | ||||||||||||||||||||||||||||||||||||||||||||
California | $ | 5,957 | $ | 5,615 | $ | 2,740 | $ | 2,374 | $ | 1,124 | $ | 1,112 | $ | 9,821 | $ | 9,101 | ||||||||||||||||||||||||||||
New York | 3,689 | 3,898 | 3,128 | 3,084 | 1,248 | 1,218 | 8,065 | 8,200 | ||||||||||||||||||||||||||||||||||||
Illinois | 2,966 | 2,917 | 1,296 | 1,341 | 750 | 740 | 5,012 | 4,998 | ||||||||||||||||||||||||||||||||||||
Florida | 2,094 | 2,012 | 708 | 646 | 536 | 539 | 3,338 | 3,197 | ||||||||||||||||||||||||||||||||||||
Texas | 5,310 | 5,310 | 2,592 | 2,646 | 870 | 878 | 8,772 | 8,834 | ||||||||||||||||||||||||||||||||||||
New Jersey | 1,942 | 2,014 | 407 | 392 | 390 | 397 | 2,739 | 2,803 | ||||||||||||||||||||||||||||||||||||
Arizona | 1,949 | 1,855 | 981 | 1,046 | 253 | 252 | 3,183 | 3,153 | ||||||||||||||||||||||||||||||||||||
Washington | 1,001 | 950 | 238 | 234 | 235 | 227 | 1,474 | 1,411 | ||||||||||||||||||||||||||||||||||||
Michigan | 1,771 | 1,902 | 1,363 | 1,383 | 489 | 513 | 3,623 | 3,798 | ||||||||||||||||||||||||||||||||||||
Ohio | 2,148 | 2,229 | 1,304 | 1,316 | 670 | 708 | 4,122 | 4,253 | ||||||||||||||||||||||||||||||||||||
All other | 24,215 | 24,055 | 4,696 | 4,489 | 4,760 | 4,973 | 33,671 | 33,517 | ||||||||||||||||||||||||||||||||||||
Total retained loans | $ | 53,042 | $ | 52,757 | $ | 19,453 | $ | 18,951 | $ | 11,325 | $ | 11,557 | $ | 83,820 | $ | 83,265 | ||||||||||||||||||||||||||||
Loans by risk ratings(c) | ||||||||||||||||||||||||||||||||||||||||||||
Noncriticized | $ | 9,269 | $ | 9,968 | $ | 14,065 | $ | 13,622 | NA | NA | $ | 23,334 | $ | 23,590 | ||||||||||||||||||||||||||||||
Criticized performing | 34 | 54 | 740 | 711 | NA | NA | 774 | 765 | ||||||||||||||||||||||||||||||||||||
Criticized nonaccrual | — | 38 | 271 | 316 | NA | NA | 271 | 354 | ||||||||||||||||||||||||||||||||||||
(a) | Individual delinquency classifications included loans insured by U.S. government agencies under the Federal Family Education Loan Program (“FFELP”) as follows: current included $4.7 billion and $4.9 billion; 30-119 days past due included $359 million and $387 million; and 120 or more days past due included $271 million and $350 million at June 30, 2014, and December 31, 2013, respectively. | |||||||||||||||||||||||||||||||||||||||||||
(b) | These amounts represent student loans, which are insured by U.S. government agencies under the FFELP. These amounts were accruing based upon the government guarantee. | |||||||||||||||||||||||||||||||||||||||||||
(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) | June 30, 2014, and December 31, 2013, excluded loans 30 days or more past due and still accruing, which are insured by U.S. government agencies under the FFELP, of $630 million and $737 million, respectively. These amounts were excluded based upon the government guarantee. | |||||||||||||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Auto | Business banking | Total other consumer(d) | |||||||||||||||||||||||||||||||||||||||||
June 30, | December 31, | June 30, | December 31, | June 30, | December 31, | |||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||||||||||||||||
With an allowance | $ | 51 | $ | 96 | $ | 414 | $ | 475 | $ | 465 | $ | 571 | ||||||||||||||||||||||||||||||||
Without an allowance(a) | 38 | 47 | — | — | 38 | 47 | ||||||||||||||||||||||||||||||||||||||
Total impaired loans(b) | $ | 89 | $ | 143 | $ | 414 | $ | 475 | $ | 503 | $ | 618 | ||||||||||||||||||||||||||||||||
Allowance for loan losses related to | $ | 8 | $ | 13 | $ | 79 | $ | 94 | $ | 87 | $ | 107 | ||||||||||||||||||||||||||||||||
impaired loans | ||||||||||||||||||||||||||||||||||||||||||||
Unpaid principal balance of impaired loans(c) | 169 | 235 | 480 | 553 | 649 | 788 | ||||||||||||||||||||||||||||||||||||||
Impaired loans on nonaccrual status | 63 | 113 | 277 | 328 | 340 | 441 | ||||||||||||||||||||||||||||||||||||||
(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) | Predominantly all other consumer impaired loans are in the U.S. | |||||||||||||||||||||||||||||||||||||||||||
(c) | Represents the contractual amount of principal owed at June 30, 2014, and December 31, 2013. 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. | |||||||||||||||||||||||||||||||||||||||||||
(d) | Excludes $63 million of impaired student loans with a related allowance for loan losses of $18 million, all of which were on nonaccrual status, at June 30, 2014. There were no impaired student and other loans at December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||
Impaired Financing Receivables, Average Recorded Investment | ' | |||||||||||||||||||||||||||||||||||||||||||
The following table presents average impaired loans for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Average impaired loans(a)(b) | |||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||
Auto | $ | 103 | $ | 129 | $ | 119 | $ | 137 | ||||||||||||||||||||||||||||||||||||
Business banking | 487 | 528 | 475 | 536 | ||||||||||||||||||||||||||||||||||||||||
Total other consumer | $ | 590 | $ | 657 | $ | 594 | $ | 673 | ||||||||||||||||||||||||||||||||||||
(a) | The related interest income on impaired loans, including those on a cash basis, was not material for the three and six months ended June 30, 2014 and 2013. | |||||||||||||||||||||||||||||||||||||||||||
(b) | Excludes impaired student loans for the three and six months ended June 30, 2014. | |||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables | ' | |||||||||||||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Auto | Business banking | Total other consumer(c) | |||||||||||||||||||||||||||||||||||||||||
June 30, | December 31, | June 30, | December 31, | June 30, | December 31, | |||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||
Loans modified in TDRs(a)(b) | $ | 89 | $ | 107 | $ | 234 | $ | 271 | $ | 323 | $ | 378 | ||||||||||||||||||||||||||||||||
TDRs on nonaccrual status | 63 | 77 | 97 | 124 | 160 | 201 | ||||||||||||||||||||||||||||||||||||||
(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 June 30, 2014, and December 31, 2013, were immaterial. | |||||||||||||||||||||||||||||||||||||||||||
(c) | Excludes impaired student loans modified in TDRs at June 30, 2014. | |||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables, Roll Forward | ' | |||||||||||||||||||||||||||||||||||||||||||
The following tables reconcile the beginning and ending balances of other consumer loans modified in TDRs for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Auto | Business banking | Total other consumer(a) | |||||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||
Beginning balance of TDRs | $ | 97 | $ | 140 | $ | 249 | $ | 341 | $ | 346 | $ | 481 | ||||||||||||||||||||||||||||||||
New TDRs | 17 | 22 | 16 | 18 | 33 | 40 | ||||||||||||||||||||||||||||||||||||||
Charge-offs post-modification | — | (2 | ) | (2 | ) | — | (2 | ) | (2 | ) | ||||||||||||||||||||||||||||||||||
Foreclosures and other liquidations | (2 | ) | — | (1 | ) | — | (3 | ) | — | |||||||||||||||||||||||||||||||||||
Principal payments and other | (23 | ) | (36 | ) | (28 | ) | (35 | ) | (51 | ) | (71 | ) | ||||||||||||||||||||||||||||||||
Ending balance of TDRs | $ | 89 | $ | 124 | $ | 234 | $ | 324 | $ | 323 | $ | 448 | ||||||||||||||||||||||||||||||||
Six months ended June 30, | Auto | Business banking | Total other consumer(a) | |||||||||||||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||
Beginning balance of TDRs | $ | 107 | $ | 150 | $ | 271 | $ | 352 | $ | 378 | $ | 502 | ||||||||||||||||||||||||||||||||
New TDRs | 37 | 42 | 24 | 40 | 61 | 82 | ||||||||||||||||||||||||||||||||||||||
Charge-offs post-modification | — | (5 | ) | (2 | ) | (2 | ) | (2 | ) | (7 | ) | |||||||||||||||||||||||||||||||||
Foreclosures and other liquidations | (5 | ) | — | (1 | ) | — | (6 | ) | — | |||||||||||||||||||||||||||||||||||
Principal payments and other | (50 | ) | (63 | ) | (58 | ) | (66 | ) | (108 | ) | (129 | ) | ||||||||||||||||||||||||||||||||
Ending balance of TDRs | $ | 89 | $ | 124 | $ | 234 | $ | 324 | $ | 323 | $ | 448 | ||||||||||||||||||||||||||||||||
(a) | Excludes student loans modified in TDRs during the three and six months ended June 30, 2014. | |||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables, Financial Effects of Modifications and Redefaults | ' | |||||||||||||||||||||||||||||||||||||||||||
The following table provides information about the financial effects of the various concessions granted in modifications of other consumer loans, excluding student loans, for the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||||||||||||||||||||||
Auto | Business banking | Auto | Business banking | |||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 12.02 | % | 13.46 | % | 7.11 | % | 7.58 | % | 13.1 | % | 13.19 | % | 7.35 | % | 7.94 | % | ||||||||||||||||||||||||||||
Weighted-average interest rate of loans with interest rate reductions – after TDR | 4.98 | 4.82 | 6.04 | 6.16 | 4.97 | 4.94 | 6.28 | 5.84 | ||||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | NM | NM | 3.1 | 1.6 | NM | NM | 2.6 | 1.5 | ||||||||||||||||||||||||||||||||||||
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | NM | NM | 4.6 | 3.8 | NM | NM | 4.3 | 3.1 | ||||||||||||||||||||||||||||||||||||
Real estate | Wholesale | ' | |||||||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||||||
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. For further information on real estate loans, see Note 14 of JPMorgan Chase’s 2013 Annual Report. | ||||||||||||||||||||||||||||||||||||||||||||
(in millions, except ratios) | Multifamily | Commercial lessors | Commercial construction and development | Other | Total real estate loans | |||||||||||||||||||||||||||||||||||||||
Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | Jun 30, | Dec 31, | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||
Real estate retained loans | $ | 46,711 | $ | 44,389 | $ | 16,833 | $ | 15,949 | $ | 3,944 | $ | 3,674 | $ | 6,138 | $ | 5,139 | $ | 73,626 | $ | 69,151 | ||||||||||||||||||||||||
Criticized exposure | 935 | 1,142 | 1,124 | 1,323 | 48 | 81 | 22 | 29 | 2,129 | 2,575 | ||||||||||||||||||||||||||||||||||
% of criticized exposure to | 2 | % | 2.57 | % | 6.68 | % | 8.3 | % | 1.22 | % | 2.2 | % | 0.36 | % | 0.56 | % | 2.89 | % | 3.72 | % | ||||||||||||||||||||||||
total real estate retained loans | ||||||||||||||||||||||||||||||||||||||||||||
Criticized nonaccrual | $ | 159 | $ | 191 | $ | 127 | $ | 143 | $ | — | $ | 3 | $ | 2 | $ | 9 | $ | 288 | $ | 346 | ||||||||||||||||||||||||
% of criticized nonaccrual to | 0.34 | % | 0.43 | % | 0.75 | % | 0.9 | % | — | % | 0.08 | % | 0.03 | % | 0.18 | % | 0.39 | % | 0.5 | % | ||||||||||||||||||||||||
total real estate retained loans |
Allowance_for_Credit_Losses_Ta
Allowance for Credit Losses (Tables) | 6 Months Ended | |||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||
Six months ended June 30, | Consumer, excluding credit card | Credit card | Wholesale | Total | Consumer, excluding credit card | Credit card | Wholesale | Total | ||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||
Allowance for loan losses | ||||||||||||||||||||||||||||||
Beginning balance at January 1, | $ | 8,456 | $ | 3,795 | $ | 4,013 | $ | 16,264 | 12,292 | $ | 5,501 | $ | 4,143 | $ | 21,936 | |||||||||||||||
Gross charge-offs | 1,084 | 1,982 | 77 | 3,143 | 1,458 | 2,414 | 116 | 3,988 | ||||||||||||||||||||||
Gross recoveries | (399 | ) | (209 | ) | (108 | ) | (716 | ) | (394 | ) | (318 | ) | (148 | ) | (860 | ) | ||||||||||||||
Net charge-offs/(recoveries) | 685 | 1,773 | (31 | ) | 2,427 | 1,064 | 2,096 | (32 | ) | 3,128 | ||||||||||||||||||||
Write-offs of PCI loans(a) | 109 | — | — | 109 | — | — | — | — | ||||||||||||||||||||||
Provision for loan losses | 81 | 1,573 | (55 | ) | 1,599 | (531 | ) | 1,046 | 64 | 579 | ||||||||||||||||||||
Other | — | (1 | ) | — | (1 | ) | (6 | ) | (6 | ) | 9 | (3 | ) | |||||||||||||||||
Ending balance at June 30, | $ | 7,743 | $ | 3,594 | $ | 3,989 | $ | 15,326 | $ | 10,691 | $ | 4,445 | $ | 4,248 | $ | 19,384 | ||||||||||||||
Allowance for loan losses by impairment methodology | ||||||||||||||||||||||||||||||
Asset-specific(b) | $ | 598 | $ | 583 | (c) | $ | 138 | $ | 1,319 | $ | 713 | $ | 1,227 | (c) | $ | 228 | $ | 2,168 | ||||||||||||
Formula-based | 3,396 | 3,011 | 3,851 | 10,258 | 4,267 | 3,218 | 4,020 | 11,505 | ||||||||||||||||||||||
PCI | 3,749 | — | — | 3,749 | 5,711 | — | — | 5,711 | ||||||||||||||||||||||
Total allowance for loan losses | $ | 7,743 | $ | 3,594 | $ | 3,989 | $ | 15,326 | $ | 10,691 | $ | 4,445 | $ | 4,248 | $ | 19,384 | ||||||||||||||
Loans by impairment methodology | ||||||||||||||||||||||||||||||
Asset-specific | $ | 13,191 | $ | 2,467 | $ | 732 | $ | 16,390 | $ | 14,251 | $ | 3,857 | $ | 1,032 | $ | 19,140 | ||||||||||||||
Formula-based | 224,905 | 123,154 | 320,797 | 668,856 | 216,401 | 120,431 | 307,164 | 643,996 | ||||||||||||||||||||||
PCI | 50,118 | — | 5 | 50,123 | 56,736 | — | 12 | 56,748 | ||||||||||||||||||||||
Total retained loans | $ | 288,214 | $ | 125,621 | $ | 321,534 | $ | 735,369 | $ | 287,388 | $ | 124,288 | $ | 308,208 | $ | 719,884 | ||||||||||||||
Impaired collateral-dependent loans | ||||||||||||||||||||||||||||||
Net charge-offs/(recoveries) | $ | 81 | $ | — | $ | (5 | ) | $ | 76 | $ | 132 | $ | — | $ | 10 | $ | 142 | |||||||||||||
Loans measured at fair value of collateral less cost to sell | 3,250 | — | 321 | 3,571 | 3,152 | — | 394 | 3,546 | ||||||||||||||||||||||
Allowance for lending-related commitments | ||||||||||||||||||||||||||||||
Beginning balance at January 1, | $ | 8 | $ | — | $ | 697 | $ | 705 | $ | 7 | $ | — | $ | 661 | $ | 668 | ||||||||||||||
Provision for lending-related commitments | 1 | — | (58 | ) | (57 | ) | 1 | — | 84 | 85 | ||||||||||||||||||||
Other | — | — | — | — | — | — | — | — | ||||||||||||||||||||||
Ending balance at June 30, | $ | 9 | $ | — | $ | 639 | $ | 648 | $ | 8 | $ | — | $ | 745 | $ | 753 | ||||||||||||||
Allowance for lending-related commitments by impairment methodology | ||||||||||||||||||||||||||||||
Asset-specific | $ | — | $ | — | $ | 43 | $ | 43 | $ | — | $ | — | $ | 79 | $ | 79 | ||||||||||||||
Formula-based | 9 | — | 596 | 605 | 8 | — | 666 | 674 | ||||||||||||||||||||||
Total allowance for lending-related commitments | $ | 9 | $ | — | $ | 639 | $ | 648 | $ | 8 | $ | — | $ | 745 | $ | 753 | ||||||||||||||
Lending-related commitments by impairment methodology | ||||||||||||||||||||||||||||||
Asset-specific | $ | — | $ | — | $ | 122 | $ | 122 | $ | — | $ | — | $ | 283 | $ | 283 | ||||||||||||||
Formula-based | 56,410 | 533,688 | 451,153 | 1,041,251 | 62,303 | 532,359 | 445,189 | 1,039,851 | ||||||||||||||||||||||
Total lending-related commitments | $ | 56,410 | $ | 533,688 | $ | 451,275 | $ | 1,041,373 | $ | 62,303 | $ | 532,359 | $ | 445,472 | $ | 1,040,134 | ||||||||||||||
(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. |
Variable_Interest_Entities_Tab
Variable Interest Entities (Tables) | 6 Months Ended | |||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||
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 159 of this Note for further information regarding the Firm’s cash flows with and interests retained in nonconsolidated VIEs, and Loans and excess mortgage servicing rights sold to the GSEs, loans in securitization transactions pursuant to Ginnie Mae guidelines, and other third-party-sponsored securitization entities on pages 159–160 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(c)(d)(e) | |||||||||||||||||||||||||||
June 30, 2014(a) (in billions) | Total assets held by securitization VIEs | Assets | Assets held in nonconsolidated securitization VIEs with continuing involvement | Trading assets | AFS securities | Total interests held by JPMorgan Chase | ||||||||||||||||||||||
held in consolidated securitization VIEs | ||||||||||||||||||||||||||||
Securitization-related | ||||||||||||||||||||||||||||
Residential mortgage: | ||||||||||||||||||||||||||||
Prime/Alt-A and Option ARMs | $ | 101.7 | $ | 2.4 | $ | 85.2 | $ | 0.4 | $ | 0.3 | $ | 0.7 | ||||||||||||||||
Subprime | 29.8 | 1.9 | 26 | 0.1 | — | 0.1 | ||||||||||||||||||||||
Commercial and other(b) | 126.9 | 0.2 | 94.2 | 0.5 | 3.3 | 3.8 | ||||||||||||||||||||||
Total | $ | 258.4 | $ | 4.5 | $ | 205.4 | $ | 1 | $ | 3.6 | $ | 4.6 | ||||||||||||||||
Principal amount outstanding | JPMorgan Chase interest in securitized assets in nonconsolidated VIEs(c)(d)(e) | |||||||||||||||||||||||||||
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 | ||||||||||||||||
(a) | Excludes U.S. government agency securitizations. See Loans and excess mortgage servicing rights sold to the GSEs, loans in securitization transactions pursuant to Ginnie Mae guidelines, and other third-party-sponsored securitization entities on pages 159–160 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 table above excludes the following: retained servicing (see Note 16 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 5 for further information on derivatives); senior and subordinated securities of $105 million and $55 million, respectively, at June 30, 2014, and $151 million and $30 million, respectively, at December 31, 2013, which the Firm purchased in connection with CIB’s secondary market-making activities. | |||||||||||||||||||||||||||
(d) | Includes interests held in re-securitization transactions. | |||||||||||||||||||||||||||
(e) | As of June 30, 2014, and December 31, 2013, 69% 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 $437 million and $551 million of investment-grade and $238 million and $260 million of noninvestment-grade retained interests at June 30, 2014, and December 31, 2013, respectively. The retained interests in commercial and other securitizations trusts consisted of $3.6 billion and $3.9 billion of investment-grade and $124 million and $80 million of noninvestment-grade retained interests at June 30, 2014, and December 31, 2013, respectively. | |||||||||||||||||||||||||||
Firm's exposure to nonconsolidated municipal bond VIEs | ' | |||||||||||||||||||||||||||
The Firm’s exposure to nonconsolidated municipal bond VIEs at June 30, 2014, and December 31, 2013, including the ratings profile of the VIEs’ assets, was as follows. | ||||||||||||||||||||||||||||
(in billions) | Fair value of assets held by VIEs | Liquidity facilities | Excess/(deficit)(a) | Maximum exposure | ||||||||||||||||||||||||
Nonconsolidated municipal bond vehicles | ||||||||||||||||||||||||||||
30-Jun-14 | $ | 11.5 | $ | 6.4 | $ | 5.1 | $ | 6.4 | ||||||||||||||||||||
31-Dec-13 | 11.8 | 6.9 | 4.9 | 6.9 | ||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||
(in billions, except where otherwise noted) | AAA to AAA- | AA+ to AA- | A+ to A- | BBB+ to BBB- | BB+ and below | |||||||||||||||||||||||
30-Jun-14 | $ | 2.7 | $ | 8.6 | $ | 0.2 | $ | — | $ | — | $ | 11.5 | 5.1 | |||||||||||||||
31-Dec-13 | 2.7 | 8.9 | 0.2 | — | — | 11.8 | 7.2 | |||||||||||||||||||||
(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. | |||||||||||||||||||||||||||
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 June 30, 2014, and December 31, 2013. | ||||||||||||||||||||||||||||
Assets | Liabilities | |||||||||||||||||||||||||||
June 30, 2014 (in billions)(a) | Trading assets | Loans | Other(d) | Total | Beneficial interests in | Other(g) | Total | |||||||||||||||||||||
assets(e) | VIE assets(f) | liabilities | ||||||||||||||||||||||||||
VIE program type | ||||||||||||||||||||||||||||
Firm-sponsored credit card trusts | $ | — | $ | 43.7 | $ | 0.7 | $ | 44.4 | $ | 28.4 | $ | — | $ | 28.4 | ||||||||||||||
Firm-administered multi-seller conduits | — | 17 | 0.2 | 17.2 | 9.6 | — | 9.6 | |||||||||||||||||||||
Municipal bond vehicles | 3 | — | — | 3 | 2.5 | — | 2.5 | |||||||||||||||||||||
Mortgage securitization entities(b) | 2.3 | 1.6 | — | 3.9 | 2.9 | 0.8 | 3.7 | |||||||||||||||||||||
Other(c) | 0.7 | 2.3 | 1.1 | 4.1 | 2.3 | 0.2 | 2.5 | |||||||||||||||||||||
Total | $ | 6 | $ | 64.6 | $ | 2 | $ | 72.6 | $ | 45.7 | $ | 1 | $ | 46.7 | ||||||||||||||
Assets | Liabilities | |||||||||||||||||||||||||||
December 31, 2013 (in billions)(a) | Trading assets | Loans | Other(d) | Total | Beneficial interests in | Other(g) | Total | |||||||||||||||||||||
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 | ||||||||||||||
(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 of student loan securitization entities as of June 30, 2014, and December 31, 2013. | |||||||||||||||||||||||||||
(d) | Includes assets classified as cash, 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 $33.6 billion and $31.8 billion at June 30, 2014, and December 31, 2013, respectively. The maturities of the long-term beneficial interests as of June 30, 2014, were as follows: $6.5 billion under one year, $19.1 billion between one and five years, and $8.0 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 table provides information related to the Firm’s securitization activities for the three months ended June 30, 2014 and 2013, 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. | ||||||||||||||||||||||||||||
Three months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
(in millions, except rates)(a) | Residential mortgage(d) | Commercial and other(e) | Residential mortgage(d) | Commercial and other(e) | Residential mortgage(d) | Commercial and other(e) | Residential mortgage(d) | Commercial and other(e) | ||||||||||||||||||||
Principal securitized | $ | 304 | $ | 2,612 | $ | 443 | $ | 3,078 | $ | 660 | $ | 4,639 | $ | 1,059 | $ | 5,284 | ||||||||||||
All cash flows during the period: | ||||||||||||||||||||||||||||
Proceeds from new securitizations(b) | $ | 312 | $ | 2,664 | $ | 446 | $ | 3,149 | $ | 663 | $ | 4,708 | $ | 1,080 | $ | 5,426 | ||||||||||||
Servicing fees collected | 137 | 1 | 158 | 2 | 276 | 2 | 285 | 3 | ||||||||||||||||||||
Purchases of previously transferred financial assets (or the underlying collateral)(c) | 64 | — | 19 | — | 67 | — | 271 | — | ||||||||||||||||||||
Cash flows received on interests | 41 | 397 | 30 | 78 | 85 | 459 | 55 | 142 | ||||||||||||||||||||
(a) | Excludes re-securitization transactions. | |||||||||||||||||||||||||||
(b) | For the three and six months ended June 30, 2014, $312 million and $642 million of proceeds from residential mortgage securitizations were received as securities classified in level 2 and zero and $21 million of proceeds classified as level 3 of the fair value hierarchy, respectively. For the three and six months ended June 30, 2014, $2.3 billion and $4.3 billion, respectively, of proceeds from commercial mortgage securitizations were received as securities classified in level 2 and $130 million of proceeds classified as level 3 of the fair value hierarchy, and $280 million of proceeds from commercial mortgage securitization were received as cash. For the three and six months ended June 30, 2013, $446 million and $1.1 billion, respectively, of proceeds from residential mortgage securitizations were received as securities classified in level 2 of the fair value hierarchy. For the three and six months ended June 30, 2013, $3.1 billion and $5.2 billion, respectively, of proceeds from commercial mortgage securitizations were received as securities classified in level 2 of the fair value hierarchy, and zero and $207 million, respectively, of proceeds from commercial mortgage securitizations were received as cash. All loans transferred into securitization vehicles during the three and six months ended June 30, 2014 and 2013, were classified as trading assets; changes in fair value were recorded in principal transactions revenue, and there were no significant gains or losses associated with the securitization activity. | |||||||||||||||||||||||||||
(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 certain loan securitization transactions entered into with Ginnie Mae, Fannie Mae and Freddie Mac. | |||||||||||||||||||||||||||
(e) | Includes commercial and student loan securitizations. | |||||||||||||||||||||||||||
Summary of loan sale activities | ' | |||||||||||||||||||||||||||
The following table summarizes the activities related to loans sold to the GSEs, loans in securitization transactions pursuant to Ginnie Mae guidelines, and other third-party-sponsored securitization entities. | ||||||||||||||||||||||||||||
Three months | Six months | |||||||||||||||||||||||||||
ended June 30, | ended June 30, | |||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||
Carrying value of loans sold(a) | $ | 12,603 | $ | 48,045 | $ | 26,523 | $ | 102,925 | ||||||||||||||||||||
Proceeds received from loan sales as cash | 50 | 295 | 89 | 461 | ||||||||||||||||||||||||
Proceeds from loans sales as securities(b) | 12,461 | 47,223 | 26,196 | 101,392 | ||||||||||||||||||||||||
Total proceeds received from loan sales(c) | $ | 12,511 | $ | 47,518 | $ | 26,285 | $ | 101,853 | ||||||||||||||||||||
Gains on loan sales(d) | $ | 82 | $ | 112 | $ | 119 | $ | 250 | ||||||||||||||||||||
(a) | Predominantly to the GSEs and in securitization transactions pursuant to Ginnie Mae guidelines. | |||||||||||||||||||||||||||
(b) | Predominantly includes securities from the GSEs and Ginnie Mae that are generally sold shortly after receipt. | |||||||||||||||||||||||||||
(c) | Excludes the value of MSRs retained upon the sale of loans. Gains on loans 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. | |||||||||||||||||||||||||||
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 June 30, 2014, and December 31, 2013, respectively; and liquidation losses for the three months ended June 30, 2014 and 2013, respectively. | ||||||||||||||||||||||||||||
Liquidation losses | ||||||||||||||||||||||||||||
Securitized assets | 90 days past due | Three months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||||
(in millions) | Jun 30, | Dec 31, | Jun 30, | Dec 31, | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Securitized loans(a) | ||||||||||||||||||||||||||||
Residential mortgage: | ||||||||||||||||||||||||||||
Prime / Alt-A & Option ARMs | $ | 85,193 | $ | 90,381 | $ | 13,158 | $ | 14,882 | $ | 598 | $ | 1,310 | $ | 1,257 | $ | 2,959 | ||||||||||||
Subprime | 25,998 | 28,008 | 6,762 | 7,726 | 464 | 756 | 1,203 | 1,539 | ||||||||||||||||||||
Commercial and other | 94,192 | 98,018 | 1,198 | 2,350 | 408 | 184 | 642 | 330 | ||||||||||||||||||||
Total loans securitized(b) | $ | 205,383 | $ | 216,407 | $ | 21,118 | $ | 24,958 | $ | 1,470 | $ | 2,250 | $ | 3,102 | $ | 4,828 | ||||||||||||
(a) | Total assets held in securitization-related SPEs were $258.4 billion and $271.7 billion, respectively, at June 30, 2014, and December 31, 2013. The $205.4 billion and $216.4 billion, respectively, of loans securitized at June 30, 2014, and December 31, 2013, excluded: $48.5 billion and $50.8 billion, respectively, of securitized loans in which the Firm has no continuing involvement, and $4.5 billion of loan securitizations consolidated on the Firm’s Consolidated Balance Sheets at June 30, 2014, and December 31, 2013. | |||||||||||||||||||||||||||
(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) | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||
Goodwill and other intangible assets | ' | ||||||||||||||||||||
Goodwill and other intangible assets consist of the following. | |||||||||||||||||||||
(in millions) | June 30, 2014 | December 31, 2013 | |||||||||||||||||||
Goodwill | $ | 48,110 | $ | 48,081 | |||||||||||||||||
Mortgage servicing rights | 8,347 | 9,614 | |||||||||||||||||||
Other intangible assets: | |||||||||||||||||||||
Purchased credit card relationships | $ | 41 | $ | 131 | |||||||||||||||||
Other credit card-related intangibles | 146 | 173 | |||||||||||||||||||
Core deposit intangibles | 74 | 159 | |||||||||||||||||||
Other intangibles | 1,078 | 1,155 | |||||||||||||||||||
Total other intangible assets | $ | 1,339 | $ | 1,618 | |||||||||||||||||
Goodwill attributed to the business segments | ' | ||||||||||||||||||||
The following table presents goodwill attributed to the business segments. | |||||||||||||||||||||
(in millions) | June 30, 2014 | 31-Dec-13 | |||||||||||||||||||
Consumer & Community Banking | $ | 30,999 | $ | 30,985 | |||||||||||||||||
Corporate & Investment Bank | 6,893 | 6,888 | |||||||||||||||||||
Commercial Banking | 2,862 | 2,862 | |||||||||||||||||||
Asset Management | 6,979 | 6,969 | |||||||||||||||||||
Corporate/Private Equity | 377 | 377 | |||||||||||||||||||
Total goodwill | $ | 48,110 | $ | 48,081 | |||||||||||||||||
Changes in the carrying amount of goodwill | ' | ||||||||||||||||||||
The following table presents changes in the carrying amount of goodwill. | |||||||||||||||||||||
Three months | Six months | ||||||||||||||||||||
ended June 30, | ended June 30, | ||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Balance at beginning of period(a) | $ | 48,065 | $ | 48,067 | $ | 48,081 | $ | 48,175 | |||||||||||||
Changes during the period from: | |||||||||||||||||||||
Business combinations | 9 | 11 | 18 | 36 | |||||||||||||||||
Dispositions | — | (5 | ) | — | (5 | ) | |||||||||||||||
Other(b) | 36 | (16 | ) | 11 | (149 | ) | |||||||||||||||
Balance at June 30,(a) | $ | 48,110 | $ | 48,057 | $ | 48,110 | $ | 48,057 | |||||||||||||
(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 three and six months ended June 30, 2014 and 2013. | |||||||||||||||||||||
As of or for the three months | As of or for the six months | ||||||||||||||||||||
ended June 30, | ended June 30, | ||||||||||||||||||||
(in millions, except where otherwise noted) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Fair value at beginning of period | $ | 8,552 | $ | 7,949 | $ | 9,614 | $ | 7,614 | |||||||||||||
MSR activity: | |||||||||||||||||||||
Originations of MSRs | 178 | 652 | 370 | 1,342 | |||||||||||||||||
Purchase of MSRs | 3 | 3 | 6 | (3 | ) | ||||||||||||||||
Disposition of MSRs | 2 | (19 | ) | (186 | ) | (f) | (418 | ) | (f) | ||||||||||||
Net additions | 183 | 636 | 190 | 921 | |||||||||||||||||
Changes due to collection/realization of expected cash flows(a) | (239 | ) | (288 | ) | (486 | ) | (547 | ) | |||||||||||||
Changes in valuation due to inputs and assumptions: | |||||||||||||||||||||
Changes due to market interest rates and other(b) | (369 | ) | 1,074 | (731 | ) | 1,620 | |||||||||||||||
Changes in valuation due to other inputs and assumptions: | |||||||||||||||||||||
Projected cash flows (e.g., cost to service) | — | — | (11 | ) | 290 | (h) | |||||||||||||||
Discount rates | (10 | ) | — | (459 | ) | (g) | (78 | ) | |||||||||||||
Prepayment model changes and other(c) | 230 | (36 | ) | 230 | (485 | ) | (i) | ||||||||||||||
Total changes in valuation due to other inputs and assumptions | 220 | (36 | ) | (240 | ) | (273 | ) | ||||||||||||||
Total changes in valuation due to inputs and assumptions(a) | (149 | ) | 1,038 | (971 | ) | 1,347 | |||||||||||||||
Fair value at June 30,(d) | $ | 8,347 | $ | 9,335 | $ | 8,347 | $ | 9,335 | |||||||||||||
Change in unrealized gains/(losses) included in income related to MSRs | $ | (149 | ) | $ | 1,038 | $ | (971 | ) | $ | 1,347 | |||||||||||
held at June 30, | |||||||||||||||||||||
Contractual service fees, late fees and other ancillary fees included in income | $ | 731 | $ | 835 | $ | 1,488 | $ | 1,704 | |||||||||||||
Third-party mortgage loans serviced at June 30, (in billions) | $ | 791 | $ | 839 | $ | 791 | $ | 839 | |||||||||||||
Net servicer advances at June 30, (in billions)(e) | $ | 8.8 | $ | 10.1 | $ | 8.8 | $ | 10.1 | |||||||||||||
(a) | Included changes related to commercial real estate of $(2) million for the three months ended June 30, 2014, and $(4) million and $(2) million for the six months ended June 30, 2014 and 2013, respectively. | ||||||||||||||||||||
(b) | 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. | ||||||||||||||||||||
(c) | Represents changes in prepayments other than those attributable to changes in market interest rates. | ||||||||||||||||||||
(d) | Included $14 million and $21 million related to commercial real estate at June 30, 2014 and 2013, respectively. | ||||||||||||||||||||
(e) | 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 recoverable servicer 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. Servicer advances are recognized net of an allowance for unrecoverable advances. | ||||||||||||||||||||
(f) | 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 for the three and six months ended June 30, 2014 and 2013. | ||||||||||||||||||||
(g) | For the six months ended June 30, 2014, the decrease was primarily related to higher capital allocated to the Mortgage Servicing business, which, in turn, resulted in an increase in the option adjusted spread (“OAS”). The resulting OAS assumption continues to be consistent with capital and return requirements that the Firm believes a market participant would consider, taking into account factors such as the current operating risk environment and regulatory and economic capital requirements. | ||||||||||||||||||||
(h) | For the six months ended June 30, 2013, the increase was driven by the inclusion in the MSR valuation model of servicing fees receivable on certain delinquent loans. | ||||||||||||||||||||
(i) | For the six months ended June 30, 2013, the decrease was driven by changes in the inputs and assumptions used to derive prepayment speeds, primarily increases in home prices. | ||||||||||||||||||||
Components of 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 three and six months ended June 30, 2014 and 2013. | |||||||||||||||||||||
Three months | Six months | ||||||||||||||||||||
ended June 30, | ended June 30, | ||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||
CCB mortgage fees and related income | |||||||||||||||||||||
Net production revenue: | |||||||||||||||||||||
Production revenue | $ | 186 | $ | 1,064 | $ | 347 | $ | 2,059 | |||||||||||||
Repurchase (losses)/benefits | 137 | 16 | 265 | (65 | ) | ||||||||||||||||
Net production revenue | 323 | 1,080 | 612 | 1,994 | |||||||||||||||||
Net mortgage servicing revenue | |||||||||||||||||||||
Operating revenue: | |||||||||||||||||||||
Loan servicing revenue | 867 | 945 | 1,737 | 1,881 | |||||||||||||||||
Changes in MSR asset fair value due to collection/realization of expected | (237 | ) | (285 | ) | (482 | ) | (543 | ) | |||||||||||||
cash flows | |||||||||||||||||||||
Total operating revenue | 630 | 660 | 1,255 | 1,338 | |||||||||||||||||
Risk management: | |||||||||||||||||||||
Changes in MSR asset fair value due to market interest rates and other(a) | (368 | ) | 1,072 | (730 | ) | 1,618 | |||||||||||||||
Other changes in MSR asset fair value due to other inputs and assumptions in | 220 | (36 | ) | (240 | ) | (273 | ) | ||||||||||||||
model(b) | |||||||||||||||||||||
Change in derivative fair value and other | 485 | (957 | ) | 907 | (1,408 | ) | |||||||||||||||
Total risk management | 337 | 79 | (63 | ) | (63 | ) | |||||||||||||||
Total CCB net mortgage servicing revenue | 967 | 739 | 1,192 | 1,275 | |||||||||||||||||
All other | 1 | 4 | 1 | 6 | |||||||||||||||||
Mortgage fees and related income | $ | 1,291 | $ | 1,823 | $ | 1,805 | $ | 3,275 | |||||||||||||
(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). | ||||||||||||||||||||
Key economic assumptions used to determine the fair value of the Firm's Mortgage Servicing Rights | ' | ||||||||||||||||||||
The table below outlines the key economic assumptions used to determine the fair value of the Firm’s MSRs at June 30, 2014, and December 31, 2013, and outlines the sensitivities of those fair values to immediate adverse changes in those assumptions, as defined below. | |||||||||||||||||||||
(in millions, except rates) | Jun 30, | Dec 31, | |||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Weighted-average prepayment speed assumption (“CPR”) | 8.56 | % | 8.07 | % | |||||||||||||||||
Impact on fair value of 10% adverse change | $ | (363 | ) | $ | (362 | ) | |||||||||||||||
Impact on fair value of 20% adverse change | (704 | ) | (705 | ) | |||||||||||||||||
Weighted-average option adjusted spread | 9.14 | % | 7.77 | % | |||||||||||||||||
Impact on fair value of 100 basis points adverse change | $ | (343 | ) | $ | (389 | ) | |||||||||||||||
Impact on fair value of 200 basis points adverse change | (660 | ) | (750 | ) | |||||||||||||||||
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. | |||||||||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||||||||
(in millions) | Gross amount(a) | Accumulated amortization(a) | Net carrying value | Gross | Accumulated amortization | Net carrying value | |||||||||||||||
amount | |||||||||||||||||||||
Purchased credit card relationships | $ | 3,540 | $ | 3,499 | $ | 41 | $ | 3,540 | $ | 3,409 | $ | 131 | |||||||||
Other credit card-related intangibles | 542 | 396 | 146 | 542 | 369 | 173 | |||||||||||||||
Core deposit intangibles | 4,131 | 4,057 | 74 | 4,133 | 3,974 | 159 | |||||||||||||||
Other intangibles(b) | 2,257 | 1,179 | 1,078 | 2,374 | 1,219 | 1,155 | |||||||||||||||
(a) | The decrease in the gross amount and accumulated amortization from December 31, 2013, 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. | |||||||||||||||||||||
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Purchased credit card relationships | $ | 45 | $ | 52 | $ | 90 | $ | 105 | |||||||||||||
Other credit card-related intangibles | 14 | 15 | 27 | 29 | |||||||||||||||||
Core deposit intangibles | 42 | 50 | 85 | 100 | |||||||||||||||||
Other intangibles | 31 | 35 | 61 | 70 | |||||||||||||||||
Total amortization expense | $ | 132 | $ | 152 | $ | 263 | $ | 304 | |||||||||||||
Estimated future amortization expense related to credit card relationships, core deposits and other intangible assets | ' | ||||||||||||||||||||
The following table presents estimated future amortization expense related to credit card relationships, core deposits and other intangible assets at June 30, 2014. | |||||||||||||||||||||
For the year (in millions) | Purchased credit card relationships | Other credit | Core deposit intangibles | Other | Total | ||||||||||||||||
card-related intangibles | intangibles | ||||||||||||||||||||
2014(a) | $ | 96 | $ | 51 | $ | 102 | $ | 111 | $ | 360 | |||||||||||
2015 | 12 | 39 | 26 | 93 | 170 | ||||||||||||||||
2016 | 9 | 34 | 14 | 75 | 132 | ||||||||||||||||
2017 | 5 | 29 | 7 | 59 | 100 | ||||||||||||||||
2018 | 3 | 20 | 5 | 53 | 81 | ||||||||||||||||
(a) | Includes $90 million, $27 million, $85 million and $61 million of amortization expense related to purchased credit card relationships, other credit card-related intangibles, core deposit intangibles and other intangibles, respectively, recognized during the six months ended June 30, 2014. |
Deposits_Tables
Deposits (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Deposits [Abstract] | ' | |||||||
Noninterest-bearing and interest-bearing deposits | ' | |||||||
At June 30, 2014, and December 31, 2013, noninterest-bearing and interest-bearing deposits were as follows. | ||||||||
(in millions) | 30-Jun-14 | 31-Dec-13 | ||||||
U.S. offices | ||||||||
Noninterest-bearing | $ | 417,607 | $ | 389,863 | ||||
Interest-bearing: | ||||||||
Demand(a) | 81,449 | 84,631 | ||||||
Savings(b) | 457,111 | 450,405 | ||||||
Time (included $6,856 and $5,995 at fair value)(c) | 85,221 | 91,356 | ||||||
Total interest-bearing deposits | 623,781 | 626,392 | ||||||
Total deposits in U.S. offices | 1,041,388 | 1,016,255 | ||||||
Non-U.S. offices | ||||||||
Noninterest-bearing | 17,757 | 17,611 | ||||||
Interest-bearing: | ||||||||
Demand | 219,911 | 214,391 | ||||||
Savings | 1,687 | 1,083 | ||||||
Time (included $1,066 and $629 at fair value)(c) | 39,008 | 38,425 | ||||||
Total interest-bearing deposits | 260,606 | 253,899 | ||||||
Total deposits in non-U.S. offices | 278,363 | 271,510 | ||||||
Total deposits | $ | 1,319,751 | $ | 1,287,765 | ||||
(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 of JPMorgan Chase’s 2013 Annual Report. |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 6 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
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 three and six months ended June 30, 2014 and 2013. | ||||||||||||||
(in millions, except per share amounts) | Three months | Six months | ||||||||||||
ended June 30, | ended June 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Basic earnings per share | ||||||||||||||
Net income | $ | 5,985 | $ | 6,496 | $ | 11,259 | $ | 13,025 | ||||||
Less: Preferred stock dividends | 268 | 204 | 495 | 386 | ||||||||||
Net income applicable to common equity | 5,717 | 6,292 | 10,764 | 12,639 | ||||||||||
Less: Dividends and undistributed earnings allocated to participating securities | 144 | 191 | 294 | 407 | ||||||||||
Net income applicable to | $ | 5,573 | $ | 6,101 | $ | 10,470 | $ | 12,232 | ||||||
common stockholders | ||||||||||||||
Total weighted-average | 3,780.60 | 3,782.40 | 3,783.90 | 3,800.30 | ||||||||||
basic shares outstanding | ||||||||||||||
Net income per share | $ | 1.47 | $ | 1.61 | $ | 2.77 | $ | 3.22 | ||||||
Diluted earnings per share | ||||||||||||||
Net income applicable to | $ | 5,573 | $ | 6,101 | $ | 10,470 | $ | 12,232 | ||||||
common stockholders | ||||||||||||||
Total weighted-average | 3,780.60 | 3,782.40 | 3,783.90 | 3,800.30 | ||||||||||
basic shares outstanding | ||||||||||||||
Add: Employee stock options, | 31.9 | 31.9 | 34.2 | 30.3 | ||||||||||
SARs and | ||||||||||||||
warrants(a) | ||||||||||||||
Total weighted-average | 3,812.50 | 3,814.30 | 3,818.10 | 3,830.60 | ||||||||||
diluted shares outstanding(b) | ||||||||||||||
Net income per share | $ | 1.46 | $ | 1.6 | $ | 2.74 | $ | 3.19 | ||||||
(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 1 million and 8 million for the three months ended June 30, 2014 and 2013, respectively, and 1 million and 11 million for the six months ended June 30, 2014 and 2013, 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) | 6 Months Ended | |||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||
Equity [Abstract] | ' | |||||||||||||||||||||||||||||
Accumulated other comprehensive income/(loss) | ' | |||||||||||||||||||||||||||||
As of or for the three months ended | Unrealized gains/(losses) on investment securities(a) | Translation adjustments, net of hedges | Cash flow hedges | Defined benefit pension and OPEB plans | Accumulated other comprehensive income/(loss) | |||||||||||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||
Balance at April 1, 2014 | $ | 3,792 | $ | (138 | ) | $ | (80 | ) | $ | (1,298 | ) | $ | 2,276 | |||||||||||||||||
Net change | 1,075 | (b) | 12 | 68 | 7 | 1,162 | ||||||||||||||||||||||||
Balance at June 30, 2014 | $ | 4,867 | $ | (126 | ) | $ | (12 | ) | $ | (1,291 | ) | $ | 3,438 | |||||||||||||||||
As of or for the three months ended | Unrealized gains/(losses) on investment securities(a) | Translation adjustments, net of hedges | Cash flow hedges | Defined benefit pension and OPEB plans | Accumulated other comprehensive income/(loss) | |||||||||||||||||||||||||
30-Jun-13 | ||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||
Balance at April 1, 2013 | $ | 6,228 | $ | (108 | ) | $ | 58 | $ | (2,687 | ) | $ | 3,491 | ||||||||||||||||||
Net change | (3,091 | ) | (c) | (38 | ) | (290 | ) | 64 | (3,355 | ) | ||||||||||||||||||||
Balance at June 30, 2013 | $ | 3,137 | $ | (146 | ) | $ | (232 | ) | $ | (2,623 | ) | $ | 136 | |||||||||||||||||
As of or for the six months ended | Unrealized gains/(losses) on investment securities(a) | Translation adjustments, net of hedges | Cash flow hedges | Defined benefit pension and OPEB plans | Accumulated other comprehensive income/(loss) | |||||||||||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||
Balance at January 1, 2014 | $ | 2,798 | $ | (136 | ) | $ | (139 | ) | $ | (1,324 | ) | $ | 1,199 | |||||||||||||||||
Net change | 2,069 | (b) | 10 | 127 | 33 | 2,239 | ||||||||||||||||||||||||
Balance at June 30, 2014 | $ | 4,867 | $ | (126 | ) | $ | (12 | ) | $ | (1,291 | ) | $ | 3,438 | |||||||||||||||||
As of or for the six months ended | Unrealized gains/(losses) on investment securities(a) | Translation adjustments, net of hedges | Cash flow hedges | Defined benefit pension and OPEB plans | Accumulated other comprehensive income/(loss) | |||||||||||||||||||||||||
30-Jun-13 | ||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||
Balance at January 1, 2013 | $ | 6,868 | $ | (95 | ) | $ | 120 | $ | (2,791 | ) | $ | 4,102 | ||||||||||||||||||
Net change | (3,731 | ) | (c) | (51 | ) | (352 | ) | 168 | (3,966 | ) | ||||||||||||||||||||
Balance at June 30, 2013 | $ | 3,137 | $ | (146 | ) | $ | (232 | ) | $ | (2,623 | ) | $ | 136 | |||||||||||||||||
(a) | Represents the after-tax difference between the fair value and amortized cost of securities accounted for as AFS; including, as of the date of transfer during the first quarter of 2014, $9 million of net unrealized losses related to AFS securities that were transferred to HTM. Subsequent to transfer, includes any net unamortized unrealized gains and losses related to the transferred securities. | |||||||||||||||||||||||||||||
(b) | The net change for the three and six months ended June 30, 2014, was primarily due to higher market valuations of obligations of U.S. states and municipalities and U.S. mortgage-backed securities in the Firm’s AFS investment securities portfolio. | |||||||||||||||||||||||||||||
(c) | The net change for the three and six months ended June 30, 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 pretax and after-tax changes in the components of other comprehensive income/(loss). | ||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||
Three months ended June 30, (in millions) | Pretax | Tax effect | After-tax | Pretax | Tax effect | After-tax | ||||||||||||||||||||||||
Unrealized gains/(losses) on investment securities: | ||||||||||||||||||||||||||||||
Net unrealized gains/(losses) arising during the period | $ | 1,778 | $ | (695 | ) | $ | 1,083 | $ | (4,947 | ) | $ | 1,931 | $ | (3,016 | ) | |||||||||||||||
Reclassification adjustment for realized (gains)/losses included in | (12 | ) | 4 | (8 | ) | (124 | ) | 49 | (75 | ) | ||||||||||||||||||||
net income(a) | ||||||||||||||||||||||||||||||
Net change | 1,766 | (691 | ) | 1,075 | (5,071 | ) | 1,980 | (3,091 | ) | |||||||||||||||||||||
Translation adjustments: | ||||||||||||||||||||||||||||||
Translation(b) | 218 | (79 | ) | 139 | (607 | ) | 223 | (384 | ) | |||||||||||||||||||||
Hedges(b) | (208 | ) | 81 | (127 | ) | 571 | (225 | ) | 346 | |||||||||||||||||||||
Net change | 10 | 2 | 12 | (36 | ) | (2 | ) | (38 | ) | |||||||||||||||||||||
Cash flow hedges: | ||||||||||||||||||||||||||||||
Net unrealized gains/(losses) arising during the period | 143 | (57 | ) | 86 | (512 | ) | 201 | (311 | ) | |||||||||||||||||||||
Reclassification adjustment for realized (gains)/losses included in | (29 | ) | 11 | (18 | ) | 34 | (13 | ) | 21 | |||||||||||||||||||||
net income(c) | ||||||||||||||||||||||||||||||
Net change | 114 | (46 | ) | 68 | (478 | ) | 188 | (290 | ) | |||||||||||||||||||||
Defined benefit pension and OPEB plans: | ||||||||||||||||||||||||||||||
Net gains/(losses) arising during the period | 19 | (8 | ) | 11 | 37 | (15 | ) | 22 | ||||||||||||||||||||||
Reclassification adjustments included in net income(d): | ||||||||||||||||||||||||||||||
Amortization of net loss | 19 | (7 | ) | 12 | 79 | (31 | ) | 48 | ||||||||||||||||||||||
Prior service costs/(credits) | (12 | ) | 5 | (7 | ) | (11 | ) | 5 | (6 | ) | ||||||||||||||||||||
Foreign exchange and other | (15 | ) | 6 | (9 | ) | (1 | ) | 1 | — | |||||||||||||||||||||
Net change | 11 | (4 | ) | 7 | 104 | (40 | ) | 64 | ||||||||||||||||||||||
Total other comprehensive income/(loss) | $ | 1,901 | $ | (739 | ) | $ | 1,162 | $ | (5,481 | ) | $ | 2,126 | $ | (3,355 | ) | |||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||
Six months ended June 30, (in millions) | Pretax | Tax effect | After-tax | Pretax | Tax effect | After-tax | ||||||||||||||||||||||||
Unrealized gains/(losses) on investment securities: | ||||||||||||||||||||||||||||||
Net unrealized gains/(losses) arising during the period | $ | 3,399 | $ | (1,304 | ) | $ | 2,095 | $ | (5,462 | ) | $ | 2,116 | $ | (3,346 | ) | |||||||||||||||
Reclassification adjustment for realized (gains)/losses included in | (42 | ) | 16 | (26 | ) | (633 | ) | 248 | (385 | ) | ||||||||||||||||||||
net income(a) | ||||||||||||||||||||||||||||||
Net change | 3,357 | (1,288 | ) | 2,069 | (6,095 | ) | 2,364 | (3,731 | ) | |||||||||||||||||||||
Translation adjustments: | ||||||||||||||||||||||||||||||
Translation(b) | 372 | (142 | ) | 230 | (1,034 | ) | 381 | (653 | ) | |||||||||||||||||||||
Hedges(b) | (362 | ) | 142 | (220 | ) | 991 | (389 | ) | 602 | |||||||||||||||||||||
Net change | 10 | — | 10 | (43 | ) | (8 | ) | (51 | ) | |||||||||||||||||||||
Cash flow hedges: | ||||||||||||||||||||||||||||||
Net unrealized gains/(losses) arising during the period | 215 | (87 | ) | 128 | (642 | ) | 252 | (390 | ) | |||||||||||||||||||||
Reclassification adjustment for realized (gains)/losses included in | (2 | ) | 1 | (1 | ) | 63 | (25 | ) | 38 | |||||||||||||||||||||
net income(c) | ||||||||||||||||||||||||||||||
Net change | 213 | (86 | ) | 127 | (579 | ) | 227 | (352 | ) | |||||||||||||||||||||
Defined benefit pension and OPEB plans: | ||||||||||||||||||||||||||||||
Net gains/(losses) arising during the period | 88 | (34 | ) | 54 | 85 | (25 | ) | 60 | ||||||||||||||||||||||
Reclassification adjustments included in net income(d): | ||||||||||||||||||||||||||||||
Amortization of net loss | 37 | (15 | ) | 22 | 160 | (62 | ) | 98 | ||||||||||||||||||||||
Prior service costs/(credits) | (22 | ) | 9 | (13 | ) | (22 | ) | 9 | (13 | ) | ||||||||||||||||||||
Foreign exchange and other | (19 | ) | (11 | ) | (30 | ) | 36 | (13 | ) | 23 | ||||||||||||||||||||
Net change | 84 | (51 | ) | 33 | 259 | (91 | ) | 168 | ||||||||||||||||||||||
Total other comprehensive income/(loss) | $ | 3,664 | $ | (1,425 | ) | $ | 2,239 | $ | (6,458 | ) | $ | 2,492 | $ | (3,966 | ) | |||||||||||||||
(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 three and six months ended June 30, 2014, and 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. |
Regulatory_Capital_Tables
Regulatory Capital (Tables) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
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 minimum ratios to which the Firm and its national bank subsidiaries are subject as of June 30, 2014. | ||||||||||||
Well-capitalized ratios(b) | Minimum capital ratios(b) | |||||||||||
Capital ratios | ||||||||||||
CET1 | NA | 4 | % | |||||||||
Tier 1 | 6 | % | 5.5 | |||||||||
Total | 10 | 8 | ||||||||||
Tier 1 leverage | 5 | (a) | 4 | |||||||||
(a) | Represents requirements for bank 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. | |||||||||||
(b) | As defined by the regulations issued by the Federal Reserve, OCC and FDIC. In addition to the 2014 well-capitalized standards, beginning January 1, 2015, Basel III Transitional CET1 capital and the Basel III Standardized Transitional and the Basel III Advanced Transitional CET1 capital ratios become relevant capital measures under the prompt corrective action requirements defined by the regulations. | |||||||||||
The following tables present the regulatory capital, assets and risk-based capital ratios for JPMorgan Chase and its significant banking subsidiaries under both Basel III Standardized Transitional and Basel III Advanced Transitional at June 30, 2014, and under Basel I at December 31, 2013. | ||||||||||||
JPMorgan Chase & Co.(d) | ||||||||||||
Basel III Standardized Transitional | Basel III Advanced Transitional | Basel I | ||||||||||
(in millions, | Jun 30, | Jun 30, | Dec 31, | |||||||||
except ratios) | 2014 | 2014 | 2013 | |||||||||
Regulatory capital | ||||||||||||
CET1 capital | $ | 160,086 | $ | 160,086 | NA | |||||||
Tier 1 capital(a) | 179,884 | 179,884 | $ | 165,663 | ||||||||
Total capital | 213,780 | 203,076 | 199,286 | |||||||||
Assets | ||||||||||||
Risk-weighted | 1,458,620 | 1,626,427 | 1,387,863 | |||||||||
Adjusted average(b) | 2,374,025 | 2,374,025 | 2,343,713 | |||||||||
Capital ratios(c) | ||||||||||||
CET1 | 11 | % | 9.8 | % | NA | |||||||
Tier 1(a) | 12.3 | 11.1 | 11.9 | % | ||||||||
Total | 14.7 | 12.5 | 14.4 | |||||||||
Tier 1 leverage | 7.6 | 7.6 | 7.1 | |||||||||
JPMorgan Chase Bank, N.A.(d) | ||||||||||||
Basel III Standardized Transitional | Basel III Advanced Transitional | Basel I | ||||||||||
(in millions, | Jun 30, | Jun 30, | Dec 31, | |||||||||
except ratios) | 2014 | 2014 | 2013 | |||||||||
Regulatory capital | ||||||||||||
CET1 capital | $ | 149,961 | $ | 149,961 | NA | |||||||
Tier 1 capital(a) | 149,961 | 149,961 | $ | 139,727 | ||||||||
Total capital | 168,636 | 160,749 | 165,496 | |||||||||
Assets | ||||||||||||
Risk-weighted | 1,241,565 | 1,349,140 | 1,171,574 | |||||||||
Adjusted average(b) | 1,895,540 | 1,895,540 | 1,900,770 | |||||||||
Capital ratios(c) | ||||||||||||
CET1 | 12.1 | % | 11.1 | % | NA | |||||||
Tier 1(a) | 12.1 | 11.1 | 11.9 | % | ||||||||
Total | 13.6 | 11.9 | 14.1 | |||||||||
Tier 1 leverage | 7.9 | 7.9 | 7.4 | |||||||||
Chase Bank USA, N.A.(d) | ||||||||||||
Basel III Standardized Transitional | Basel III Advanced Transitional | Basel I | ||||||||||
(in millions, | Jun 30, | Jun 30, | Dec 31, | |||||||||
except ratios) | 2014 | 2014 | 2013 | |||||||||
Regulatory capital | ||||||||||||
CET1 capital | $ | 13,626 | $ | 13,626 | NA | |||||||
Tier 1 capital(a) | 13,626 | 13,626 | $ | 12,956 | ||||||||
Total capital | 19,526 | 18,276 | 16,389 | |||||||||
Assets | ||||||||||||
Risk-weighted | 98,509 | 154,964 | 100,990 | |||||||||
Adjusted average(b) | 114,031 | 114,031 | 109,731 | |||||||||
Capital ratios(c) | ||||||||||||
CET1 | 13.8 | % | 8.8 | % | NA | |||||||
Tier 1(a) | 13.8 | 8.8 | 12.8 | % | ||||||||
Total | 19.8 | 11.8 | 16.2 | |||||||||
Tier 1 leverage | 12 | 12 | 11.8 | |||||||||
(a) | At June 30, 2014, trust preferred securities included in Basel III Tier 1 capital were $2.7 billion and $300 million for JPMorgan Chase and JPMorgan Chase Bank, N.A., respectively. At June 30, 2014, Chase Bank USA, N.A. had no trust preferred securities. | |||||||||||
(b) | Adjusted average assets, for purposes of calculating the leverage ratio, include 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. | |||||||||||
(c) | Beginning April 1, 2014, the lower ratio represents the Collins Floor. | |||||||||||
(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. | |||||||||||
Note: | Rating agencies allow measures of capital to be adjusted upward for deferred tax liabilities, which have resulted from both non-taxable business combinations and from tax-deductible goodwill. The Firm had deferred tax liabilities resulting from non-taxable business combinations totaling $145 million and $192 million at June 30, 2014, and December 31, 2013, respectively; and deferred tax liabilities resulting from tax-deductible goodwill of $2.8 billion at both June 30, 2014, and December 31, 2013. |
OffBalance_Sheet_LendingRelate1
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments (Tables) | 6 Months Ended | |||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments [Abstract] | ' | |||||||||||||||||||||||||
Off-Balance Sheet Lending Related Financial Instruments, and Guarantees and Other Commitments | ' | |||||||||||||||||||||||||
The following table summarizes the contractual amounts and carrying values of off-balance sheet lending-related financial instruments, guarantees and other commitments at June 30, 2014, and December 31, 2013. 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 as permitted by law, without notice. 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(j) | |||||||||||||||||||||||||
Jun 30, 2014 | Dec 31, | Jun 30, | Dec 31, | |||||||||||||||||||||||
2013 | 2014 | 2013 | ||||||||||||||||||||||||
By remaining maturity | 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 | $ | 2,332 | $ | 4,303 | $ | 3,050 | $ | 2,268 | $ | 11,953 | $ | 13,158 | $ | — | $ | — | ||||||||||
Home equity – junior lien | 3,707 | 6,338 | 3,460 | 2,261 | 15,766 | 17,837 | — | — | ||||||||||||||||||
Prime mortgage | 6,679 | — | — | — | 6,679 | 4,817 | — | — | ||||||||||||||||||
Subprime mortgage | — | — | — | — | — | — | — | — | ||||||||||||||||||
Auto | 9,006 | 371 | 122 | 22 | 9,521 | 8,309 | 1 | 1 | ||||||||||||||||||
Business banking | 10,516 | 886 | 117 | 377 | 11,896 | 11,251 | 8 | 7 | ||||||||||||||||||
Student and other | 99 | 37 | 2 | 457 | 595 | 685 | — | — | ||||||||||||||||||
Total consumer, excluding credit card(a) | 32,339 | 11,935 | 6,751 | 5,385 | 56,410 | 56,057 | 9 | 8 | ||||||||||||||||||
Credit card(b) | 533,688 | — | — | — | 533,688 | 529,383 | — | — | ||||||||||||||||||
Total consumer | 566,027 | 11,935 | 6,751 | 5,385 | 590,098 | 585,440 | 9 | 8 | ||||||||||||||||||
Wholesale: | ||||||||||||||||||||||||||
Other unfunded commitments to extend credit(c)(d) | 59,664 | 76,645 | 108,410 | 8,628 | 253,347 | 246,495 | 410 | 432 | ||||||||||||||||||
Standby letters of credit and other financial guarantees(c)(d)(e) | 23,884 | 32,699 | 33,020 | 2,126 | 91,729 | 92,723 | 851 | 943 | ||||||||||||||||||
Unused advised lines of credit | 89,000 | 11,649 | 559 | 473 | 101,681 | 101,994 | — | — | ||||||||||||||||||
Other letters of credit(c) | 3,402 | 994 | 122 | — | 4,518 | 5,020 | 1 | 2 | ||||||||||||||||||
Total wholesale(f) | 175,950 | 121,987 | 142,111 | 11,227 | 451,275 | 446,232 | 1,262 | 1,377 | ||||||||||||||||||
Total lending-related | $ | 741,977 | $ | 133,922 | $ | 148,862 | $ | 16,612 | $ | 1,041,373 | $ | 1,031,672 | $ | 1,271 | $ | 1,385 | ||||||||||
Other guarantees and commitments | ||||||||||||||||||||||||||
Securities lending indemnification agreements and guarantees(g) | $ | 208,317 | $ | — | $ | — | $ | — | $ | 208,317 | $ | 169,709 | $ | — | $ | — | ||||||||||
Derivatives qualifying as guarantees | 1,088 | 795 | 13,836 | 37,733 | 53,452 | 56,274 | 44 | 72 | ||||||||||||||||||
Unsettled reverse repurchase and securities borrowing agreements(h) | 74,198 | — | — | — | 74,198 | 38,211 | — | — | ||||||||||||||||||
Loan sale and securitization-related indemnifications: | ||||||||||||||||||||||||||
Mortgage repurchase liability | NA | NA | NA | NA | NA | NA | 436 | 681 | ||||||||||||||||||
Loans sold with recourse | NA | NA | NA | NA | 6,775 | 7,692 | 115 | 131 | ||||||||||||||||||
Other guarantees and commitments(i) | 437 | 353 | 2,616 | 2,099 | 5,505 | 6,786 | (79 | ) | (99 | ) | ||||||||||||||||
(a) | Predominantly all consumer, excluding credit card, lending-related commitments contractual amounts are in the U.S. | |||||||||||||||||||||||||
(b) | Predominantly all credit card lending-related commitments contractual amounts are in the U.S. | |||||||||||||||||||||||||
(c) | At June 30, 2014, and December 31, 2013, reflects the contractual amount net of risk participations totaling $184 million and $476 million, respectively, for other unfunded commitments to extend credit; $14.3 billion and $14.8 billion, respectively, for standby letters of credit and other financial guarantees; and $538 million and $622 million, respectively, for other letters of credit. In regulatory filings with the Federal Reserve these commitments are shown gross of risk participations. | |||||||||||||||||||||||||
(d) | At June 30, 2014, and December 31, 2013, included credit enhancements and bond and commercial paper liquidity commitments to U.S. states and municipalities, hospitals and other non-profit entities of $17.0 billion and $18.9 billion, respectively, within other unfunded commitments to extend credit; and $15.2 billion and $17.2 billion, respectively, within standby letters of credit and other financial guarantees. Other unfunded commitments to extend credit also include liquidity facilities to nonconsolidated municipal bond VIEs; for further information, see Note 15. | |||||||||||||||||||||||||
(e) | At June 30, 2014, and December 31, 2013, included unissued standby letters of credit commitments of $44.8 billion and $42.8 billion, respectively. | |||||||||||||||||||||||||
(f) | At June 30, 2014, and December 31, 2013, the U.S. portion of the contractual amount of total wholesale lending-related commitments was 67% and 68%, respectively. | |||||||||||||||||||||||||
(g) | At June 30, 2014, and December 31, 2013, collateral held by the Firm in support of securities lending indemnification agreements was $216.3 billion and $176.4 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. | |||||||||||||||||||||||||
(h) | At June 30, 2014, and December 31, 2013, the amount of commitments related to forward-starting reverse repurchase agreements and securities borrowing agreements were $40.7 billion and $9.9 billion, respectively. Commitments related to unsettled reverse repurchase agreements and securities borrowing agreements with regular-way settlement periods were $33.5 billion and $28.3 billion, at June 30, 2014, and December 31, 2013, respectively. | |||||||||||||||||||||||||
(i) | At June 30, 2014, and December 31, 2013, included unfunded commitments of $130 million and $215 million, respectively, to third-party private equity funds; and $691 million and $1.9 billion, at June 30, 2014, and December 31, 2013, to other equity investments. These commitments included $111 million and $184 million, respectively, related to investments that are generally fair valued at net asset value as discussed in Note 3. In addition, at both June 30, 2014, and December 31, 2013, included letters of credit hedged by derivative transactions and managed on a market risk basis of $4.5 billion. | |||||||||||||||||||||||||
(j) | 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 and 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 June 30, 2014, and December 31, 2013. | ||||||||||||||||||||||||||
Standby letters of credit, other financial guarantees and other letters of credit | ||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||
(in millions) | Standby letters of | Other letters | Standby letters of | Other letters | ||||||||||||||||||||||
credit and other financial guarantees | of credit | credit and other financial guarantees | of credit | |||||||||||||||||||||||
Investment-grade(a) | $ | 68,440 | $ | 3,551 | $ | 69,109 | $ | 3,939 | ||||||||||||||||||
Noninvestment-grade(a) | 23,289 | 967 | 23,614 | 1,081 | ||||||||||||||||||||||
Total contractual amount | $ | 91,729 | $ | 4,518 | $ | 92,723 | $ | 5,020 | ||||||||||||||||||
Allowance for lending-related commitments | $ | 228 | $ | 1 | $ | 263 | $ | 2 | ||||||||||||||||||
Commitments with collateral | 40,331 | 1,718 | 40,410 | 1,473 | ||||||||||||||||||||||
(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(a) | ||||||||||||||||||||||||||
Three months | Six months ended June 30, | |||||||||||||||||||||||||
ended June 30, | ||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Repurchase liability at beginning of period | $ | 564 | $ | 2,674 | $ | 681 | $ | 2,811 | ||||||||||||||||||
Net realized gains/(losses)(b) | 8 | (191 | ) | 19 | (403 | ) | ||||||||||||||||||||
(Benefit)/provision for repurchase(c) | (136 | ) | (7 | ) | (264 | ) | 68 | |||||||||||||||||||
Repurchase liability at end of period | $ | 436 | $ | 2,476 | $ | 436 | $ | 2,476 | ||||||||||||||||||
(a) | 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. | |||||||||||||||||||||||||
(b) | 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 $1 million and $133 million for the three months ended June 30, 2014 and 2013, respectively and $3 million and $254 million for the six months ended June 30, 2014 and 2013, respectively. | |||||||||||||||||||||||||
(c) | Included a provision related to new loan sales of $1 million and $6 million for the three months ended June 30, 2014 and 2013, respectively, and $2 million and $14 million for the six months ended June 30, 2014 and 2013, respectively. |
Business_Segments_Tables
Business Segments (Tables) | 6 Months Ended | |||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||
Segment results and reconciliation | ' | |||||||||||||||||||||||||||
Segment results and reconciliation(a) | ||||||||||||||||||||||||||||
As of or for the three months ended June 30, | Consumer & | Corporate & | Commercial Banking | Asset Management | ||||||||||||||||||||||||
(in millions, except ratios) | Community Banking | Investment Bank | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Noninterest revenue | $ | 4,468 | $ | 4,921 | $ | 6,531 | $ | 7,171 | $ | 577 | $ | 551 | $ | 2,380 | $ | 2,156 | ||||||||||||
Net interest income | 6,963 | 7,094 | 2,460 | 2,705 | 1,124 | 1,177 | 576 | 569 | ||||||||||||||||||||
Total net revenue | 11,431 | 12,015 | 8,991 | 9,876 | 1,701 | 1,728 | 2,956 | 2,725 | ||||||||||||||||||||
Provision for credit losses | 852 | (19 | ) | (84 | ) | (6 | ) | (67 | ) | 44 | 1 | 23 | ||||||||||||||||
Noninterest expense | 6,456 | 6,864 | 6,058 | 5,742 | 675 | 652 | 2,062 | 1,892 | ||||||||||||||||||||
Income/(loss) before | 4,123 | 5,170 | 3,017 | 4,140 | 1,093 | 1,032 | 893 | 810 | ||||||||||||||||||||
income tax expense/(benefit) | ||||||||||||||||||||||||||||
Income tax expense/(benefit) | 1,680 | 2,081 | 1,054 | 1,302 | 435 | 411 | 341 | 310 | ||||||||||||||||||||
Net income/(loss) | $ | 2,443 | $ | 3,089 | $ | 1,963 | $ | 2,838 | $ | 658 | $ | 621 | $ | 552 | $ | 500 | ||||||||||||
Average common equity | $ | 51,000 | $ | 46,000 | $ | 61,000 | $ | 56,500 | $ | 14,000 | $ | 13,500 | $ | 9,000 | $ | 9,000 | ||||||||||||
Total assets | 447,277 | 460,642 | 873,288 | 873,527 | 192,523 | 184,124 | 128,362 | 115,157 | ||||||||||||||||||||
Return on average common equity | 19 | % | 27 | % | 13 | % | 20 | % | 19 | % | 18 | % | 25 | % | 22 | % | ||||||||||||
Overhead ratio | 56 | 57 | 67 | 58 | 40 | 38 | 70 | 69 | ||||||||||||||||||||
As of or for the three months ended June 30, | Corporate/Private Equity | Reconciling Items(b) | Total | |||||||||||||||||||||||||
(in millions, except ratios) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Noninterest revenue | $ | 351 | $ | 290 | $ | (651 | ) | $ | (582 | ) | $ | 13,656 | $ | 14,507 | ||||||||||||||
Net interest income | (81 | ) | (676 | ) | (244 | ) | (165 | ) | 10,798 | 10,704 | ||||||||||||||||||
Total net revenue | 270 | (386 | ) | (895 | ) | (747 | ) | 24,454 | 25,211 | |||||||||||||||||||
Provision for credit losses | (10 | ) | 5 | — | — | 692 | 47 | |||||||||||||||||||||
Noninterest expense | 180 | 716 | — | — | 15,431 | 15,866 | ||||||||||||||||||||||
Income/(loss) before income tax expense/(benefit) | 100 | (1,107 | ) | (895 | ) | (747 | ) | 8,331 | 9,298 | |||||||||||||||||||
Income tax expense/(benefit) | (269 | ) | (555 | ) | (895 | ) | (747 | ) | 2,346 | 2,802 | ||||||||||||||||||
Net income/(loss) | $ | 369 | $ | (552 | ) | $ | — | $ | — | $ | 5,985 | $ | 6,496 | |||||||||||||||
Average common equity | $ | 71,159 | $ | 72,283 | $ | — | $ | — | $ | 206,159 | $ | 197,283 | ||||||||||||||||
Total assets | 878,886 | 806,044 | NA | NA | 2,520,336 | 2,439,494 | ||||||||||||||||||||||
Return on average common equity | NM | NM | NM | NM | 11 | % | 13 | % | ||||||||||||||||||||
Overhead ratio | NM | NM | NM | NM | 63 | 63 | ||||||||||||||||||||||
Segment results and reconciliation(a) | ||||||||||||||||||||||||||||
As of or for the six months ended June 30, | Consumer & | Corporate & | Commercial Banking | Asset Management | ||||||||||||||||||||||||
(in millions, except ratios) | Community Banking | Investment Bank | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Noninterest revenue | $ | 7,902 | $ | 9,327 | $ | 12,767 | $ | 14,528 | $ | 1,135 | $ | 1,086 | $ | 4,598 | $ | 4,250 | ||||||||||||
Net interest income | 13,989 | 14,303 | 4,830 | 5,488 | 2,217 | 2,315 | 1,136 | 1,128 | ||||||||||||||||||||
Total net revenue | 21,891 | 23,630 | 17,597 | 20,016 | 3,352 | 3,401 | 5,734 | 5,378 | ||||||||||||||||||||
Provision for credit losses | 1,668 | 530 | (35 | ) | 5 | (62 | ) | 83 | (8 | ) | 44 | |||||||||||||||||
Noninterest expense | 12,893 | 13,654 | 11,662 | 11,853 | 1,361 | 1,296 | 4,137 | 3,768 | ||||||||||||||||||||
Income/(loss) before | 7,330 | 9,446 | 5,970 | 8,158 | 2,053 | 2,022 | 1,605 | 1,566 | ||||||||||||||||||||
income tax expense/(benefit) | ||||||||||||||||||||||||||||
Income tax expense/(benefit) | 2,951 | 3,771 | 2,028 | 2,710 | 817 | 805 | 612 | 579 | ||||||||||||||||||||
Net income/(loss) | $ | 4,379 | $ | 5,675 | $ | 3,942 | $ | 5,448 | $ | 1,236 | $ | 1,217 | $ | 993 | $ | 987 | ||||||||||||
Average common equity | $ | 51,000 | $ | 46,000 | $ | 61,000 | $ | 56,500 | $ | 14,000 | $ | 13,500 | $ | 9,000 | $ | 9,000 | ||||||||||||
Total assets | 447,277 | 460,642 | 873,288 | 873,527 | 192,523 | 184,124 | 128,362 | 115,157 | ||||||||||||||||||||
Return on average common equity | 17 | % | 25 | % | 13 | % | 19 | % | 18 | % | 18 | % | 22 | % | 22 | % | ||||||||||||
Overhead ratio | 59 | 58 | 66 | 59 | 41 | 38 | 72 | 70 | ||||||||||||||||||||
As of or for the six months ended June 30, | Corporate/Private Equity | Reconciling Items(b) | Total | |||||||||||||||||||||||||
(in millions, except ratios) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Noninterest revenue | $ | 875 | $ | 651 | $ | (1,295 | ) | $ | (1,146 | ) | $ | 25,982 | $ | 28,696 | ||||||||||||||
Net interest income | (237 | ) | (1,270 | ) | (470 | ) | (327 | ) | 21,465 | 21,637 | ||||||||||||||||||
Total net revenue | 638 | (619 | ) | (1,765 | ) | (1,473 | ) | 47,447 | 50,333 | |||||||||||||||||||
Provision for credit losses | (21 | ) | 2 | — | — | 1,542 | 664 | |||||||||||||||||||||
Noninterest expense | 14 | 718 | — | — | 30,067 | 31,289 | ||||||||||||||||||||||
Income/(loss) before income tax expense/(benefit) | 645 | (1,339 | ) | (1,765 | ) | (1,473 | ) | 15,838 | 18,380 | |||||||||||||||||||
Income tax expense/(benefit) | (64 | ) | (1,037 | ) | (1,765 | ) | (1,473 | ) | 4,579 | 5,355 | ||||||||||||||||||
Net income/(loss) | $ | 709 | $ | (302 | ) | $ | — | $ | — | $ | 11,259 | $ | 13,025 | |||||||||||||||
Average common equity | $ | 68,989 | $ | 71,016 | $ | — | $ | — | $ | 203,989 | $ | 196,016 | ||||||||||||||||
Total assets | 878,886 | 806,044 | NA | NA | 2,520,336 | 2,439,494 | ||||||||||||||||||||||
Return on average common equity | NM | NM | NM | NM | 11 | % | 13 | % | ||||||||||||||||||||
Overhead ratio | NM | NM | NM | NM | 63 | 62 | ||||||||||||||||||||||
(a) | Managed basis starts with the reported U.S. GAAP results and includes certain reclassifications that do not have any impact on net income as reported by the lines of business or by the Firm as a whole. | |||||||||||||||||||||||||||
(b) | Segment managed results reflect revenue on a FTE basis with the corresponding income tax impact recorded within income tax expense/(benefit). These FTE adjustments are eliminated in reconciling items to arrive at the Firm’s reported U.S. GAAP results. |
Basis_of_Presentation_Details
Basis of Presentation (Details) (USD $) | Mar. 31, 2014 |
In Billions, unless otherwise specified | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Fair value of securities transferred from available-for-sale to held-to-maturity | $19.30 |
Business_Changes_and_Developme1
Business Changes and Developments - Business Events (Details) (USD $) | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | |||||
In Millions, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 |
Common stock | Common stock | Preferred Stock Including Additional Paid in Capital | Preferred Stock Including Additional Paid in Capital | Preferred Stock Including Additional Paid in Capital | |||||
Other Business Events Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock issued, new issues | ' | ' | ' | ' | ' | ' | $3,380 | $7,305 | $2,400 |
Cash dividends declared per common share (in dollars per share) | $0.40 | $0.38 | $0.78 | $0.68 | $0.40 | $0.38 | ' | ' | ' |
Fair_Value_Measurement_Recurri
Fair Value Measurement - Recurring Basis (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Available-for-sale securities | $314,069,000,000 | ' | $329,977,000,000 | ' | ' | ' |
Mortgage servicing rights | 8,347,000,000 | 8,552,000,000 | 9,614,000,000 | 9,335,000,000 | 7,949,000,000 | 7,614,000,000 |
Other borrowed funds | 34,713,000,000 | ' | 27,994,000,000 | ' | ' | ' |
Reduction In Level Three Derivative Receivable And Derivative Payable Balances | 4,200,000,000 | ' | 7,600,000,000 | ' | ' | ' |
Fair value assets and liabilities measured on recurring basis - supplemental data | ' | ' | ' | ' | ' | ' |
Costs of the private equity investment portfolio | 6,300,000,000 | ' | 8,000,000,000 | ' | ' | ' |
Fair Value | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Securities borrowed | 111,800,000,000 | ' | 107,700,000,000 | ' | ' | ' |
Loans | 731,700,000,000 | ' | 720,200,000,000 | ' | ' | ' |
Other | 56,500,000,000 | ' | 61,900,000,000 | ' | ' | ' |
Deposits | 1,312,100,000,000 | ' | 1,281,500,000,000 | ' | ' | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements | 213,900,000,000 | ' | 175,700,000,000 | ' | ' | ' |
Other borrowed funds | 19,300,000,000 | ' | 14,700,000,000 | ' | ' | ' |
Accounts payable and other liabilities | 175,100,000,000 | ' | 160,000,000,000 | ' | ' | ' |
Long-term debt | 246,100,000,000 | ' | 246,800,000,000 | ' | ' | ' |
Total retained loans | Trading assets | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 4,400,000,000 | ' | 2,100,000,000 | ' | ' | ' |
Residential mortgage | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 15,500,000,000 | ' | 14,800,000,000 | ' | ' | ' |
Residential conforming mortgage intended for sale to government agency | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 6,600,000,000 | ' | 6,000,000,000 | ' | ' | ' |
Reverse mortgage | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 3,700,000,000 | ' | 3,600,000,000 | ' | ' | ' |
Recurring | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 392,543,000,000 | ' | 374,664,000,000 | ' | ' | ' |
Trading liabilities | 138,656,000,000 | ' | 137,744,000,000 | ' | ' | ' |
Mortgage servicing rights | 8,347,000,000 | ' | 9,614,000,000 | ' | ' | ' |
Total assets measured at fair value on a recurring basis | 762,126,000,000 | ' | 760,327,000,000 | ' | ' | ' |
Total liabilities measured at fair value on a recurring basis | 197,892,000,000 | ' | 193,999,000,000 | ' | ' | ' |
Fair value assets and liabilities measured on recurring basis - supplemental data | ' | ' | ' | ' | ' | ' |
Investment valued at net asset value | 2,200,000,000 | ' | 3,200,000,000 | ' | ' | ' |
Recurring | Fair Value | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Federal funds sold and securities purchased under resale agreements | 27,837,000,000 | ' | 25,135,000,000 | ' | ' | ' |
Securities borrowed | 2,134,000,000 | ' | 3,739,000,000 | ' | ' | ' |
Available-for-sale securities | 314,069,000,000 | ' | 329,977,000,000 | ' | ' | ' |
Loans | 4,303,000,000 | ' | 2,011,000,000 | ' | ' | ' |
Deposits | 7,922,000,000 | ' | 6,624,000,000 | ' | ' | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements | 2,630,000,000 | ' | 5,426,000,000 | ' | ' | ' |
Other borrowed funds | 15,403,000,000 | ' | 13,306,000,000 | ' | ' | ' |
Accounts payable and other liabilities | 45,000,000 | ' | 25,000,000 | ' | ' | ' |
Long-term debt | 31,142,000,000 | ' | 28,878,000,000 | ' | ' | ' |
Recurring | Long Term Beneficial Interests | Fair Value | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Beneficial interests issued by consolidated VIEs | 2,094,000,000 | ' | 1,996,000,000 | ' | ' | ' |
Recurring | Total debt and equity instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 87,861,000,000 | ' | 80,430,000,000 | ' | ' | ' |
Recurring | Interest rate contract | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 15,089,000,000 | ' | 13,283,000,000 | ' | ' | ' |
Recurring | Credit derivatives | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 2,832,000,000 | ' | 2,281,000,000 | ' | ' | ' |
Recurring | Foreign exchange contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 11,682,000,000 | ' | 15,947,000,000 | ' | ' | ' |
Recurring | Equity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 11,024,000,000 | ' | 14,719,000,000 | ' | ' | ' |
Recurring | Commodity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 10,168,000,000 | ' | 11,084,000,000 | ' | ' | ' |
Recurring | Total derivative | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 50,795,000,000 | ' | 57,314,000,000 | ' | ' | ' |
Recurring | Mortgage-backed securities - US government agencies | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 26,816,000,000 | ' | 26,591,000,000 | ' | ' | ' |
Available-for-sale securities | 64,512,000,000 | ' | 77,815,000,000 | ' | ' | ' |
Recurring | Mortgage-backed securities - Residential – nonagency | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 2,165,000,000 | ' | 2,475,000,000 | ' | ' | ' |
Available-for-sale securities | 58,239,000,000 | ' | 62,469,000,000 | ' | ' | ' |
Recurring | Mortgage-backed securities - Commercial – nonagency | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 1,592,000,000 | ' | 1,303,000,000 | ' | ' | ' |
Available-for-sale securities | 18,413,000,000 | ' | 16,425,000,000 | ' | ' | ' |
Recurring | Total mortgage-backed securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 30,573,000,000 | ' | 30,369,000,000 | ' | ' | ' |
Available-for-sale securities | 141,164,000,000 | ' | 156,709,000,000 | ' | ' | ' |
Recurring | U.S. Treasury and government agencies | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 34,114,000,000 | ' | 25,480,000,000 | ' | ' | ' |
Available-for-sale securities | 19,359,000,000 | ' | 21,389,000,000 | ' | ' | ' |
Recurring | Obligations of U.S. states and municipalities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 7,492,000,000 | ' | 7,920,000,000 | ' | ' | ' |
Available-for-sale securities | 28,086,000,000 | ' | 29,461,000,000 | ' | ' | ' |
Recurring | Certificates of deposit, bankers’ acceptances and commercial paper | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 1,918,000,000 | ' | 3,071,000,000 | ' | ' | ' |
Recurring | Certificates of deposit | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Available-for-sale securities | 1,410,000,000 | ' | 1,041,000,000 | ' | ' | ' |
Recurring | Non-U.S. government debt securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 54,950,000,000 | ' | 48,284,000,000 | ' | ' | ' |
Available-for-sale securities | 57,845,000,000 | ' | 56,248,000,000 | ' | ' | ' |
Recurring | Corporate debt securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 32,150,000,000 | ' | 30,722,000,000 | ' | ' | ' |
Available-for-sale securities | 21,356,000,000 | ' | 21,512,000,000 | ' | ' | ' |
Recurring | Loans | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 33,190,000,000 | ' | 30,786,000,000 | ' | ' | ' |
Recurring | Asset-backed securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 4,306,000,000 | ' | 4,919,000,000 | ' | ' | ' |
Recurring | Asset-backed securities - Collateralized loan obligations | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Available-for-sale securities | 28,450,000,000 | ' | 28,230,000,000 | ' | ' | ' |
Recurring | Asset backed securities - Other | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Available-for-sale securities | 13,108,000,000 | ' | 12,245,000,000 | ' | ' | ' |
Recurring | Total debt instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 198,693,000,000 | ' | 181,551,000,000 | ' | ' | ' |
Recurring | Equity securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 113,834,000,000 | ' | 109,506,000,000 | ' | ' | ' |
Available-for-sale securities | 3,291,000,000 | ' | 3,142,000,000 | ' | ' | ' |
Recurring | Physical commodities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 9,552,000,000 | ' | 10,189,000,000 | ' | ' | ' |
Recurring | Other debt and equity instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 8,086,000,000 | ' | 7,659,000,000 | ' | ' | ' |
Recurring | Total debt and equity instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 330,165,000,000 | ' | 308,905,000,000 | ' | ' | ' |
Recurring | Private equity investments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Other | 5,540,000,000 | ' | 7,509,000,000 | ' | ' | ' |
Recurring | All other assets | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Other | 7,353,000,000 | ' | 7,678,000,000 | ' | ' | ' |
Recurring | Total other assets | Fair Value | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Other | 12,893,000,000 | ' | 15,187,000,000 | ' | ' | ' |
Recurring | Interest rate contract | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 28,829,000,000 | ' | 25,782,000,000 | ' | ' | ' |
Recurring | Credit derivatives | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 2,964,000,000 | ' | 1,516,000,000 | ' | ' | ' |
Recurring | Foreign exchange contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 11,625,000,000 | ' | 16,790,000,000 | ' | ' | ' |
Recurring | Equity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 9,377,000,000 | ' | 12,227,000,000 | ' | ' | ' |
Recurring | Commodity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 9,583,000,000 | ' | 9,444,000,000 | ' | ' | ' |
Recurring | Total derivative | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 62,378,000,000 | ' | 65,759,000,000 | ' | ' | ' |
Recurring | US government-sponsored enterprises debt securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Total assets measured at fair value on a recurring basis | 80,600,000,000 | ' | 91,500,000,000 | ' | ' | ' |
Recurring | Level 1 | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Federal funds sold and securities purchased under resale agreements | 0 | ' | 0 | ' | ' | ' |
Securities borrowed | 0 | ' | 0 | ' | ' | ' |
Trading assets | 174,978,000,000 | ' | 154,507,000,000 | ' | ' | ' |
Trading liabilities | 70,918,000,000 | ' | 62,424,000,000 | ' | ' | ' |
Available-for-sale securities | 48,545,000,000 | ' | 49,881,000,000 | ' | ' | ' |
Loans | 0 | ' | 0 | ' | ' | ' |
Mortgage servicing rights | 0 | ' | 0 | ' | ' | ' |
Total assets measured at fair value on a recurring basis | 228,142,000,000 | ' | 209,207,000,000 | ' | ' | ' |
Deposits | 0 | ' | 0 | ' | ' | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | ' | 0 | ' | ' | ' |
Other borrowed funds | 0 | ' | 0 | ' | ' | ' |
Accounts payable and other liabilities | 0 | ' | 0 | ' | ' | ' |
Beneficial interests issued by consolidated VIEs | 0 | ' | 0 | ' | ' | ' |
Long-term debt | 0 | ' | 0 | ' | ' | ' |
Total liabilities measured at fair value on a recurring basis | 70,918,000,000 | ' | 62,424,000,000 | ' | ' | ' |
Recurring | Level 1 | Total debt and equity instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 69,704,000,000 | ' | 61,262,000,000 | ' | ' | ' |
Recurring | Level 1 | Interest rate contract | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 612,000,000 | ' | 321,000,000 | ' | ' | ' |
Recurring | Level 1 | Credit derivatives | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 1 | Foreign exchange contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 481,000,000 | ' | 443,000,000 | ' | ' | ' |
Recurring | Level 1 | Equity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 1 | Commodity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 121,000,000 | ' | 398,000,000 | ' | ' | ' |
Recurring | Level 1 | Total derivative | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 1,214,000,000 | ' | 1,162,000,000 | ' | ' | ' |
Recurring | Level 1 | Mortgage-backed securities - US government agencies | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 9,000,000 | ' | 4,000,000 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 1 | Mortgage-backed securities - Residential – nonagency | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 1 | Mortgage-backed securities - Commercial – nonagency | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 1 | Total mortgage-backed securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 9,000,000 | ' | 4,000,000 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 1 | U.S. Treasury and government agencies | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 27,221,000,000 | ' | 14,933,000,000 | ' | ' | ' |
Available-for-sale securities | 19,230,000,000 | ' | 21,091,000,000 | ' | ' | ' |
Recurring | Level 1 | Obligations of U.S. states and municipalities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 1 | Certificates of deposit, bankers’ acceptances and commercial paper | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 1 | Certificates of deposit | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 1 | Non-U.S. government debt securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 28,957,000,000 | ' | 25,762,000,000 | ' | ' | ' |
Available-for-sale securities | 26,024,000,000 | ' | 25,648,000,000 | ' | ' | ' |
Recurring | Level 1 | Corporate debt securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 1 | Loans | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 1 | Asset-backed securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 1 | Asset-backed securities - Collateralized loan obligations | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 1 | Asset backed securities - Other | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 1 | Total debt instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 56,187,000,000 | ' | 40,699,000,000 | ' | ' | ' |
Recurring | Level 1 | Equity securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 112,284,000,000 | ' | 107,667,000,000 | ' | ' | ' |
Available-for-sale securities | 3,291,000,000 | ' | 3,142,000,000 | ' | ' | ' |
Recurring | Level 1 | Physical commodities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 5,337,000,000 | ' | 4,968,000,000 | ' | ' | ' |
Recurring | Level 1 | Other debt and equity instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 1 | Total debt and equity instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 173,808,000,000 | ' | 153,334,000,000 | ' | ' | ' |
Recurring | Level 1 | Private equity investments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Other | 339,000,000 | ' | 606,000,000 | ' | ' | ' |
Recurring | Level 1 | All other assets | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Other | 4,280,000,000 | ' | 4,213,000,000 | ' | ' | ' |
Recurring | Level 1 | Total other assets | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Other | 4,619,000,000 | ' | 4,819,000,000 | ' | ' | ' |
Recurring | Level 1 | Interest rate contract | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 496,000,000 | ' | 419,000,000 | ' | ' | ' |
Recurring | Level 1 | Credit derivatives | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 1 | Foreign exchange contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 464,000,000 | ' | 434,000,000 | ' | ' | ' |
Recurring | Level 1 | Equity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 1 | Commodity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 210,000,000 | ' | 320,000,000 | ' | ' | ' |
Recurring | Level 1 | Total derivative | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 1,170,000,000 | ' | 1,173,000,000 | ' | ' | ' |
Recurring | Level 2 | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Federal funds sold and securities purchased under resale agreements | 27,837,000,000 | ' | 25,135,000,000 | ' | ' | ' |
Securities borrowed | 2,134,000,000 | ' | 3,739,000,000 | ' | ' | ' |
Trading assets | 1,217,400,000,000 | ' | 1,289,072,000,000 | ' | ' | ' |
Trading liabilities | 1,074,320,000,000 | ' | 1,159,799,000,000 | ' | ' | ' |
Available-for-sale securities | 263,688,000,000 | ' | 277,774,000,000 | ' | ' | ' |
Loans | 76,000,000 | ' | 80,000,000 | ' | ' | ' |
Mortgage servicing rights | 0 | ' | 0 | ' | ' | ' |
Total assets measured at fair value on a recurring basis | 1,511,750,000,000 | ' | 1,596,518,000,000 | ' | ' | ' |
Deposits | 5,084,000,000 | ' | 4,369,000,000 | ' | ' | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements | 2,630,000,000 | ' | 5,426,000,000 | ' | ' | ' |
Other borrowed funds | 13,865,000,000 | ' | 11,232,000,000 | ' | ' | ' |
Accounts payable and other liabilities | 0 | ' | 0 | ' | ' | ' |
Beneficial interests issued by consolidated VIEs | 1,032,000,000 | ' | 756,000,000 | ' | ' | ' |
Long-term debt | 19,396,000,000 | ' | 18,870,000,000 | ' | ' | ' |
Total liabilities measured at fair value on a recurring basis | 1,116,327,000,000 | ' | 1,200,452,000,000 | ' | ' | ' |
Fair value assets and liabilities measured on recurring basis - supplemental data | ' | ' | ' | ' | ' | ' |
Investment valued at net asset value | 590,000,000 | ' | 899,000,000 | ' | ' | ' |
Recurring | Level 2 | Total debt and equity instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 18,077,000,000 | ' | 19,055,000,000 | ' | ' | ' |
Recurring | Level 2 | Interest rate contract | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 783,367,000,000 | ' | 822,014,000,000 | ' | ' | ' |
Recurring | Level 2 | Credit derivatives | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 76,642,000,000 | ' | 78,731,000,000 | ' | ' | ' |
Recurring | Level 2 | Foreign exchange contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 111,371,000,000 | ' | 156,838,000,000 | ' | ' | ' |
Recurring | Level 2 | Equity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 48,817,000,000 | ' | 46,552,000,000 | ' | ' | ' |
Recurring | Level 2 | Commodity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 36,046,000,000 | ' | 36,609,000,000 | ' | ' | ' |
Recurring | Level 2 | Total derivative | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 1,056,243,000,000 | ' | 1,140,744,000,000 | ' | ' | ' |
Recurring | Level 2 | Mortgage-backed securities - US government agencies | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 25,682,000,000 | ' | 25,582,000,000 | ' | ' | ' |
Available-for-sale securities | 64,512,000,000 | ' | 77,815,000,000 | ' | ' | ' |
Recurring | Level 2 | Mortgage-backed securities - Residential – nonagency | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 1,622,000,000 | ' | 1,749,000,000 | ' | ' | ' |
Available-for-sale securities | 58,139,000,000 | ' | 61,760,000,000 | ' | ' | ' |
Recurring | Level 2 | Mortgage-backed securities - Commercial – nonagency | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 1,265,000,000 | ' | 871,000,000 | ' | ' | ' |
Available-for-sale securities | 17,999,000,000 | ' | 15,900,000,000 | ' | ' | ' |
Recurring | Level 2 | Total mortgage-backed securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 28,569,000,000 | ' | 28,202,000,000 | ' | ' | ' |
Available-for-sale securities | 140,650,000,000 | ' | 155,475,000,000 | ' | ' | ' |
Recurring | Level 2 | U.S. Treasury and government agencies | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 6,893,000,000 | ' | 10,547,000,000 | ' | ' | ' |
Available-for-sale securities | 129,000,000 | ' | 298,000,000 | ' | ' | ' |
Recurring | Level 2 | Obligations of U.S. states and municipalities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 6,413,000,000 | ' | 6,538,000,000 | ' | ' | ' |
Available-for-sale securities | 28,086,000,000 | ' | 29,461,000,000 | ' | ' | ' |
Recurring | Level 2 | Certificates of deposit, bankers’ acceptances and commercial paper | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 1,918,000,000 | ' | 3,071,000,000 | ' | ' | ' |
Recurring | Level 2 | Certificates of deposit | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Available-for-sale securities | 1,410,000,000 | ' | 1,041,000,000 | ' | ' | ' |
Recurring | Level 2 | Non-U.S. government debt securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 25,865,000,000 | ' | 22,379,000,000 | ' | ' | ' |
Available-for-sale securities | 31,821,000,000 | ' | 30,600,000,000 | ' | ' | ' |
Recurring | Level 2 | Corporate debt securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 27,357,000,000 | ' | 24,802,000,000 | ' | ' | ' |
Available-for-sale securities | 21,356,000,000 | ' | 21,512,000,000 | ' | ' | ' |
Recurring | Level 2 | Loans | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 19,669,000,000 | ' | 17,331,000,000 | ' | ' | ' |
Recurring | Level 2 | Asset-backed securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 3,090,000,000 | ' | 3,647,000,000 | ' | ' | ' |
Recurring | Level 2 | Asset-backed securities | Fair Value Level 3 to Level 2 Transfers Amount | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | ' | ' | ' | ' | 1,300,000,000 | ' |
Recurring | Level 2 | Asset-backed securities - Collateralized loan obligations | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Available-for-sale securities | 27,652,000,000 | ' | 27,409,000,000 | ' | ' | ' |
Recurring | Level 2 | Asset-backed securities - Collateralized loan obligations | Fair Value Level 3 to Level 2 Transfers Amount | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Available-for-sale securities | ' | ' | ' | ' | 27,300,000,000 | ' |
Recurring | Level 2 | Asset backed securities - Other | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Available-for-sale securities | 12,584,000,000 | ' | 11,978,000,000 | ' | ' | ' |
Recurring | Level 2 | Total debt instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 119,774,000,000 | ' | 116,517,000,000 | ' | ' | ' |
Recurring | Level 2 | Equity securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 846,000,000 | ' | 954,000,000 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 2 | Physical commodities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 4,212,000,000 | ' | 5,217,000,000 | ' | ' | ' |
Recurring | Level 2 | Other debt and equity instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 5,745,000,000 | ' | 5,659,000,000 | ' | ' | ' |
Recurring | Level 2 | Total debt and equity instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 130,577,000,000 | ' | 128,347,000,000 | ' | ' | ' |
Recurring | Level 2 | Private equity investments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Other | 318,000,000 | ' | 429,000,000 | ' | ' | ' |
Recurring | Level 2 | All other assets | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Other | 297,000,000 | ' | 289,000,000 | ' | ' | ' |
Recurring | Level 2 | Total other assets | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Other | 615,000,000 | ' | 718,000,000 | ' | ' | ' |
Recurring | Level 2 | Interest rate contract | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 815,033,000,000 | ' | 848,862,000,000 | ' | ' | ' |
Recurring | Level 2 | Credit derivatives | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 78,004,000,000 | ' | 79,754,000,000 | ' | ' | ' |
Recurring | Level 2 | Foreign exchange contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 111,149,000,000 | ' | 151,521,000,000 | ' | ' | ' |
Recurring | Level 2 | Equity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 47,293,000,000 | ' | 45,892,000,000 | ' | ' | ' |
Recurring | Level 2 | Commodity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 35,344,000,000 | ' | 34,696,000,000 | ' | ' | ' |
Recurring | Level 2 | Total derivative | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 1,086,823,000,000 | ' | 1,160,725,000,000 | ' | ' | ' |
Recurring | Level 2 | Equity contracts | Fair Value Level 3 to Level 2 Transfers Amount | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 3,000,000,000 | ' | ' | ' | ' | ' |
Trading liabilities | 2,900,000,000 | ' | ' | ' | ' | ' |
Recurring | Level 3 | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Federal funds sold and securities purchased under resale agreements | 0 | ' | 0 | ' | ' | ' |
Securities borrowed | 0 | ' | 0 | ' | ' | ' |
Trading assets | 38,311,000,000 | ' | 45,793,000,000 | ' | ' | ' |
Trading liabilities | 14,466,000,000 | ' | 18,356,000,000 | ' | ' | ' |
Available-for-sale securities | 1,836,000,000 | ' | 2,322,000,000 | ' | ' | ' |
Loans | 4,227,000,000 | ' | 1,931,000,000 | ' | ' | ' |
Mortgage servicing rights | 8,347,000,000 | ' | 9,614,000,000 | ' | ' | ' |
Total assets measured at fair value on a recurring basis | 60,380,000,000 | ' | 69,310,000,000 | ' | ' | ' |
Deposits | 2,838,000,000 | ' | 2,255,000,000 | ' | ' | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | ' | 0 | ' | ' | ' |
Other borrowed funds | 1,538,000,000 | ' | 2,074,000,000 | ' | ' | ' |
Accounts payable and other liabilities | 45,000,000 | ' | 25,000,000 | ' | ' | ' |
Beneficial interests issued by consolidated VIEs | 1,062,000,000 | ' | 1,240,000,000 | ' | ' | ' |
Long-term debt | 11,746,000,000 | ' | 10,008,000,000 | ' | ' | ' |
Total liabilities measured at fair value on a recurring basis | 31,695,000,000 | ' | 33,958,000,000 | ' | ' | ' |
Fair value assets and liabilities measured on recurring basis - supplemental data | ' | ' | ' | ' | ' | ' |
Investment valued at net asset value | 1,600,000,000 | ' | 2,300,000,000 | ' | ' | ' |
Recurring | Level 3 | Total debt and equity instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 80,000,000 | ' | 113,000,000 | ' | ' | ' |
Recurring | Level 3 | Interest rate contract | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 3,239,000,000 | ' | 3,019,000,000 | ' | ' | ' |
Recurring | Level 3 | Credit derivatives | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 2,914,000,000 | ' | 3,671,000,000 | ' | ' | ' |
Recurring | Level 3 | Foreign exchange contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 2,832,000,000 | ' | 2,844,000,000 | ' | ' | ' |
Recurring | Level 3 | Equity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 4,707,000,000 | ' | 8,102,000,000 | ' | ' | ' |
Recurring | Level 3 | Commodity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 694,000,000 | ' | 607,000,000 | ' | ' | ' |
Recurring | Level 3 | Total derivative | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 14,386,000,000 | ' | 18,243,000,000 | ' | ' | ' |
Recurring | Level 3 | Mortgage-backed securities - US government agencies | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 1,125,000,000 | ' | 1,005,000,000 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 3 | Mortgage-backed securities - Residential – nonagency | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 543,000,000 | ' | 726,000,000 | ' | ' | ' |
Available-for-sale securities | 100,000,000 | ' | 709,000,000 | ' | ' | ' |
Recurring | Level 3 | Mortgage-backed securities - Commercial – nonagency | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 327,000,000 | ' | 432,000,000 | ' | ' | ' |
Available-for-sale securities | 414,000,000 | ' | 525,000,000 | ' | ' | ' |
Recurring | Level 3 | Total mortgage-backed securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 1,995,000,000 | ' | 2,163,000,000 | ' | ' | ' |
Available-for-sale securities | 514,000,000 | ' | 1,234,000,000 | ' | ' | ' |
Recurring | Level 3 | U.S. Treasury and government agencies | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 3 | Obligations of U.S. states and municipalities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 1,079,000,000 | ' | 1,382,000,000 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 3 | Certificates of deposit, bankers’ acceptances and commercial paper | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 3 | Certificates of deposit | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 3 | Non-U.S. government debt securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 128,000,000 | ' | 143,000,000 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 3 | Corporate debt securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 4,793,000,000 | ' | 5,920,000,000 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 3 | Loans | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 13,521,000,000 | ' | 13,455,000,000 | ' | ' | ' |
Recurring | Level 3 | Asset-backed securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 1,216,000,000 | ' | 1,272,000,000 | ' | ' | ' |
Recurring | Level 3 | Asset-backed securities - Collateralized loan obligations | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Available-for-sale securities | 798,000,000 | ' | 821,000,000 | ' | ' | ' |
Recurring | Level 3 | Asset backed securities - Other | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Available-for-sale securities | 524,000,000 | ' | 267,000,000 | ' | ' | ' |
Recurring | Level 3 | Total debt instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 22,732,000,000 | ' | 24,335,000,000 | ' | ' | ' |
Recurring | Level 3 | Equity securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 704,000,000 | ' | 885,000,000 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Level 3 | Physical commodities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 3,000,000 | ' | 4,000,000 | ' | ' | ' |
Recurring | Level 3 | Other debt and equity instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 2,341,000,000 | ' | 2,000,000,000 | ' | ' | ' |
Recurring | Level 3 | Total debt and equity instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 25,780,000,000 | ' | 27,224,000,000 | ' | ' | ' |
Recurring | Level 3 | Private equity investments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Other | 4,883,000,000 | ' | 6,474,000,000 | ' | ' | ' |
Recurring | Level 3 | All other assets | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Other | 2,776,000,000 | ' | 3,176,000,000 | ' | ' | ' |
Recurring | Level 3 | Total other assets | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Other | 7,659,000,000 | ' | 9,650,000,000 | ' | ' | ' |
Recurring | Level 3 | Interest rate contract | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 4,772,000,000 | ' | 5,398,000,000 | ' | ' | ' |
Recurring | Level 3 | Credit derivatives | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 3,048,000,000 | ' | 3,766,000,000 | ' | ' | ' |
Recurring | Level 3 | Foreign exchange contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 1,638,000,000 | ' | 1,644,000,000 | ' | ' | ' |
Recurring | Level 3 | Equity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 2,501,000,000 | ' | 7,039,000,000 | ' | ' | ' |
Recurring | Level 3 | Commodity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 572,000,000 | ' | 722,000,000 | ' | ' | ' |
Recurring | Level 3 | Total derivative | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 12,531,000,000 | ' | 18,569,000,000 | ' | ' | ' |
Recurring | Netting adjustments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Federal funds sold and securities purchased under resale agreements | 0 | ' | 0 | ' | ' | ' |
Securities borrowed | 0 | ' | 0 | ' | ' | ' |
Trading assets | -1,038,146,000,000 | ' | -1,114,708,000,000 | ' | ' | ' |
Trading liabilities | -1,021,048,000,000 | ' | -1,102,835,000,000 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Loans | 0 | ' | 0 | ' | ' | ' |
Mortgage servicing rights | 0 | ' | 0 | ' | ' | ' |
Total assets measured at fair value on a recurring basis | -1,038,146,000,000 | ' | -1,114,708,000,000 | ' | ' | ' |
Deposits | 0 | ' | 0 | ' | ' | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | ' | 0 | ' | ' | ' |
Other borrowed funds | 0 | ' | 0 | ' | ' | ' |
Accounts payable and other liabilities | 0 | ' | 0 | ' | ' | ' |
Beneficial interests issued by consolidated VIEs | 0 | ' | 0 | ' | ' | ' |
Long-term debt | 0 | ' | 0 | ' | ' | ' |
Total liabilities measured at fair value on a recurring basis | -1,021,048,000,000 | ' | -1,102,835,000,000 | ' | ' | ' |
Recurring | Netting adjustments | Total debt and equity instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Interest rate contract | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | -772,129,000,000 | ' | -812,071,000,000 | ' | ' | ' |
Recurring | Netting adjustments | Credit derivatives | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | -76,724,000,000 | ' | -80,121,000,000 | ' | ' | ' |
Recurring | Netting adjustments | Foreign exchange contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | -103,002,000,000 | ' | -144,178,000,000 | ' | ' | ' |
Recurring | Netting adjustments | Equity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | -42,500,000,000 | ' | -39,935,000,000 | ' | ' | ' |
Recurring | Netting adjustments | Commodity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | -26,693,000,000 | ' | -26,530,000,000 | ' | ' | ' |
Recurring | Netting adjustments | Total derivative | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading liabilities | -1,021,048,000,000 | ' | -1,102,835,000,000 | ' | ' | ' |
Recurring | Netting adjustments | Mortgage-backed securities - US government agencies | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Mortgage-backed securities - Residential – nonagency | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Mortgage-backed securities - Commercial – nonagency | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Total mortgage-backed securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | U.S. Treasury and government agencies | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Obligations of U.S. states and municipalities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Certificates of deposit, bankers’ acceptances and commercial paper | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Certificates of deposit | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Non-U.S. government debt securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Corporate debt securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Loans | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Asset-backed securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Asset-backed securities - Collateralized loan obligations | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Asset backed securities - Other | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Total debt instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Equity securities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Physical commodities | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Other debt and equity instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Total debt and equity instruments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Private equity investments | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Other | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | All other assets | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Other | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Total other assets | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Other | 0 | ' | 0 | ' | ' | ' |
Recurring | Netting adjustments | Interest rate contract | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | -791,472,000,000 | ' | -828,897,000,000 | ' | ' | ' |
Recurring | Netting adjustments | Credit derivatives | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | -78,088,000,000 | ' | -82,004,000,000 | ' | ' | ' |
Recurring | Netting adjustments | Foreign exchange contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | -101,626,000,000 | ' | -136,809,000,000 | ' | ' | ' |
Recurring | Netting adjustments | Equity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | -40,417,000,000 | ' | -40,704,000,000 | ' | ' | ' |
Recurring | Netting adjustments | Commodity contracts | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | -26,543,000,000 | ' | -26,294,000,000 | ' | ' | ' |
Recurring | Netting adjustments | Total derivative | ' | ' | ' | ' | ' | ' |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' |
Trading assets | ($1,038,146,000,000) | ' | ($1,114,708,000,000) | ' | ' | ' |
Fair_Value_Measurement_Level_3
Fair Value Measurement - Level 3 Inputs (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 |
Interest rate contract | Interest rate contract | Interest rate contract | Interest rate contract | Interest rate contract | Interest rate contract | Interest rate contract | Credit derivatives | Credit derivatives | Credit derivatives | Credit derivatives | Credit derivatives | Credit derivatives | Credit derivatives | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Equity contracts | Equity contracts | Equity contracts | Equity contracts | Equity contracts | Equity contracts | Equity contracts | Commodity contracts | Commodity contracts | Commodity contracts | Commodity contracts | Commodity contracts | Commodity contracts | Commodity contracts | Mortgage servicing rights | Mortgage servicing rights | Mortgage servicing rights | Mortgage servicing rights | Mortgage servicing rights | Mortgage servicing rights | Mortgage servicing rights | Private equity investments | Private equity investments | Private equity investments | Private equity investments | Private equity investments | Private equity investments | Discounted cash flows | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Weighted Average | Weighted Average | Weighted Average | Weighted Average | Weighted Average | Weighted Average | Private equity direct investments | Private equity direct investments | Private equity direct investments | Private equity direct investments | Private equity fund investments | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | |
Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Asset-backed securities - Collateralized loan obligations | Discounted cash flows | Discounted cash flows | Discounted cash flows | Discounted cash flows | Discounted cash flows | Discounted cash flows | Discounted cash flows | Market comparables | Market comparables | Option Pricing Valuation Technique [Member] | Option Pricing Valuation Technique [Member] | Option Pricing Valuation Technique [Member] | Option Pricing Valuation Technique [Member] | Discounted cash flows | Discounted cash flows | Discounted cash flows | Discounted cash flows | Discounted cash flows | Discounted cash flows | Discounted cash flows | Market comparables | Market comparables | Option Pricing Valuation Technique [Member] | Option Pricing Valuation Technique [Member] | Option Pricing Valuation Technique [Member] | Option Pricing Valuation Technique [Member] | Discounted cash flows | Discounted cash flows | Discounted cash flows | Discounted cash flows | Market comparables | Market comparables | Market comparables | Minimum | Maximum | Weighted Average | Net asset value | Level 3 | Level 3 | Level 3 | Level 3 | Residential mortgage-backed securities and loans | Commercial mortgage-backed securities and loans | Interest rate contract | Interest rate contract | Interest rate contract | Interest rate contract | Credit derivatives | Credit derivatives | Credit derivatives | Credit derivatives | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Equity contracts | Equity contracts | Equity contracts | Equity contracts | Commodity contracts | Commodity contracts | Commodity contracts | Commodity contracts | Discounted cash flows | Discounted cash flows | Discounted cash flows | Market comparables | Market comparables | Option Pricing Valuation Technique [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Long-term debt, other borrowed funds, and deposits | Residential mortgage-backed securities and loans | Commercial mortgage-backed securities and loans | Corporate debt securities, obligations of U.S. states and municipalities, and other [Member] | Credit derivatives | Commodity contracts | Asset-backed securities - Collateralized loan obligations | Corporate debt securities, obligations of U.S. states and municipalities, and other [Member] | Asset-backed securities - Collateralized loan obligations | Long-term debt, other borrowed funds, and deposits | Interest rate contract | Foreign exchange contracts | Equity contracts | Long-term debt, other borrowed funds, and deposits | Residential mortgage-backed securities and loans | Commercial mortgage-backed securities and loans | Corporate debt securities, obligations of U.S. states and municipalities, and other [Member] | Credit derivatives | Commodity contracts | Asset-backed securities - Collateralized loan obligations | Corporate debt securities, obligations of U.S. states and municipalities, and other [Member] | Asset-backed securities - Collateralized loan obligations | Long-term debt, other borrowed funds, and deposits | Interest rate contract | Foreign exchange contracts | Equity contracts | Residential mortgage-backed securities and loans | Commercial mortgage-backed securities and loans | Corporate debt securities, obligations of U.S. states and municipalities, and other [Member] | Asset-backed securities - Collateralized loan obligations | Corporate debt securities, obligations of U.S. states and municipalities, and other [Member] | Asset-backed securities - Collateralized loan obligations | Private equity investments | Market comparables | Market comparables | Market comparables | Private equity investments | Credit derivatives with underlying mortgage risk | Credit derivatives with underlying asset-backed securities risk | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Long-term debt, other borrowed funds, and deposits | Corporate debt securities, obligations of U.S. states and municipalities, and other [Member] | Asset-backed securities - Collateralized loan obligations | Corporate debt securities, obligations of U.S. states and municipalities, and other [Member] | Asset-backed securities - Collateralized loan obligations | Long-term debt, other borrowed funds, and deposits | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Level 3 | Private equity investments | Private equity investments | Private equity investments | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Level 3 Inputs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9,931,000,000 | $2,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16,933,000,000 | $798,000,000 | $4,078,000,000 | $379,000,000 | ' |
Fair value of assets | 1,533,000,000 | 2,090,000,000 | 2,379,000,000 | 2,101,000,000 | 2,791,000,000 | 3,322,000,000 | 1,533,000,000 | 134,000,000 | 244,000,000 | 95,000,000 | 921,000,000 | 1,317,000,000 | 1,873,000,000 | 134,000,000 | -1,194,000,000 | -1,282,000,000 | -1,200,000,000 | -1,218,000,000 | -1,516,000,000 | -1,750,000,000 | -1,194,000,000 | -2,206,000,000 | -1,060,000,000 | -1,063,000,000 | -2,291,000,000 | -1,000,000,000 | -1,806,000,000 | -2,206,000,000 | -122,000,000 | -58,000,000 | 115,000,000 | 71,000,000 | 182,000,000 | 254,000,000 | -122,000,000 | 8,347,000,000 | 8,552,000,000 | 9,614,000,000 | 9,335,000,000 | 7,949,000,000 | 7,614,000,000 | 8,347,000,000 | 4,883,000,000 | 5,335,000,000 | 6,474,000,000 | 7,105,000,000 | 6,831,000,000 | 7,181,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,419,000,000 | ' | ' | ' | 464,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liabilities, fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 197,892,000,000 | 193,999,000,000 | 31,695,000,000 | 33,958,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,359,000,000 | ' | ' | ' | ' | 14,763,000,000 |
Yield | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | 3.00% | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | 28.00% | 43.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | 15.00% | 9.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepayment speed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | 21.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conditional default rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29.00% | 10.00% | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss severity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 40.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22.00% | 35.00% | ' | 40.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 120 | 108 | ' | ' | ' | ' | ' | ' | ' | ' | 94 | 79 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate correlation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -75.00% | -75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 97.00% | 97.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate spread volatility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit correlation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44.00% | ' | ' | ' | 44.00% | ' | ' | ' | ' | ' | ' | ' | ' | 86.00% | ' | ' | ' | 86.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign exchange correlation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' | 48.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity volatility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forward commodity price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 160 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
EBITDA multiple | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.7 | 12.3 | 7.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit spread | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.53% | ' | ' | 2.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.65% | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | 1.67% | 2.52% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liquidity adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 49.00% | 13.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity correlation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -55.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Level 3 Inputs - Supplemental Data | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trading assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 392,543,000,000 | 374,664,000,000 | 38,311,000,000 | 45,793,000,000 | 389,000,000 | 1,100,000,000 | ' | ' | 28,829,000,000 | 25,782,000,000 | 4,772,000,000 | 5,398,000,000 | 2,964,000,000 | 1,516,000,000 | 3,048,000,000 | 3,766,000,000 | 11,625,000,000 | 16,790,000,000 | 1,638,000,000 | 1,644,000,000 | 9,377,000,000 | 12,227,000,000 | 2,501,000,000 | 7,039,000,000 | 9,583,000,000 | 9,444,000,000 | 572,000,000 | 722,000,000 | ' | ' | ' | ' | ' | ' |
Trading liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $138,656,000,000 | $137,744,000,000 | $14,466,000,000 | $18,356,000,000 | $342,000,000 | $972,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_Measurement_Changes
Fair Value Measurement - Changes in level 3 recurring measurements (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Deposits | ' | ' | ' | ' |
Liabilities | ' | ' | ' | ' |
Beginning balance | $2,386 | $2,015 | $2,255 | $1,983 |
Total realized/unrealized (gains)/losses | 74 | -110 | 111 | -105 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 519 | 316 | 809 | 612 |
Settlements | -24 | -44 | -66 | -157 |
Transfers into and/or out of level 3 | -117 | 13 | -271 | -143 |
Ending balance | 2,838 | 2,190 | 2,838 | 2,190 |
Change in unrealized (gains)/losses related to financial instruments held | 63 | -110 | 98 | -97 |
Other borrowed funds | ' | ' | ' | ' |
Liabilities | ' | ' | ' | ' |
Beginning balance | 1,535 | 2,137 | 2,074 | 1,619 |
Total realized/unrealized (gains)/losses | -132 | -243 | -93 | -269 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 1,343 | 2,389 | 2,676 | 4,151 |
Settlements | -1,380 | -1,695 | -3,487 | -2,919 |
Transfers into and/or out of level 3 | 172 | 85 | 368 | 91 |
Ending balance | 1,538 | 2,673 | 1,538 | 2,673 |
Change in unrealized (gains)/losses related to financial instruments held | -30 | 33 | 84 | 74 |
Trading liabilities – debt and equity instruments | ' | ' | ' | ' |
Liabilities | ' | ' | ' | ' |
Beginning balance | 101 | 251 | 113 | 205 |
Total realized/unrealized (gains)/losses | -4 | -60 | -4 | -68 |
Purchases | -46 | -374 | -262 | -1,859 |
Sales | 71 | 454 | 279 | 2,006 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | -4 | -21 | -8 | -34 |
Transfers into and/or out of level 3 | -38 | -146 | -38 | -146 |
Ending balance | 80 | 104 | 80 | 104 |
Change in unrealized (gains)/losses related to financial instruments held | 1 | -48 | 1 | -78 |
Accounts payable and other liabilities | ' | ' | ' | ' |
Liabilities | ' | ' | ' | ' |
Beginning balance | 18 | 33 | 25 | 36 |
Total realized/unrealized (gains)/losses | 27 | 0 | 27 | 1 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | -1 | -7 | -5 |
Transfers into and/or out of level 3 | 0 | 0 | 0 | 0 |
Ending balance | 45 | 32 | 45 | 32 |
Change in unrealized (gains)/losses related to financial instruments held | 27 | 0 | 27 | 1 |
Beneficial interests issued by consolidated VIEs | ' | ' | ' | ' |
Liabilities | ' | ' | ' | ' |
Beginning balance | 1,160 | 818 | 1,240 | 925 |
Total realized/unrealized (gains)/losses | 54 | 59 | 101 | 25 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 4 | 30 | 82 | 51 |
Settlements | -54 | -44 | -259 | -138 |
Transfers into and/or out of level 3 | -102 | 0 | -102 | 0 |
Ending balance | 1,062 | 863 | 1,062 | 863 |
Change in unrealized (gains)/losses related to financial instruments held | 58 | 54 | 88 | 26 |
Long-term debt | ' | ' | ' | ' |
Liabilities | ' | ' | ' | ' |
Beginning balance | 11,203 | 9,084 | 10,008 | 8,476 |
Total realized/unrealized (gains)/losses | 437 | -430 | 539 | -905 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 1,912 | 1,878 | 3,744 | 3,733 |
Settlements | -1,369 | -1,246 | -2,379 | -1,603 |
Transfers into and/or out of level 3 | -437 | -84 | -166 | -499 |
Ending balance | 11,746 | 9,202 | 11,746 | 9,202 |
Change in unrealized (gains)/losses related to financial instruments held | 410 | -292 | 585 | -321 |
Mortgage-backed securities - US government agencies | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 1,150 | 819 | 1,005 | 498 |
Total realized/unrealized gains/(losses) | 27 | 106 | 30 | 140 |
Purchases | 12 | 2 | 343 | 393 |
Sales | -12 | 0 | -174 | -79 |
Settlements | -33 | -26 | -60 | -51 |
Transfers into and/or out of level 3 | -19 | 0 | -19 | 0 |
Ending Balance | 1,125 | 901 | 1,125 | 901 |
Change in unrealized gains/(losses) related to financial instruments held | 28 | 114 | 32 | 153 |
Mortgage-backed securities - Residential – nonagency | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 715 | 633 | 726 | 663 |
Total realized/unrealized gains/(losses) | 67 | 203 | 91 | 312 |
Purchases | 181 | 135 | 373 | 434 |
Sales | -314 | -336 | -514 | -740 |
Settlements | -12 | -20 | -24 | -49 |
Transfers into and/or out of level 3 | -94 | 0 | -109 | -5 |
Ending Balance | 543 | 615 | 543 | 615 |
Change in unrealized gains/(losses) related to financial instruments held | 21 | 135 | 29 | 177 |
Mortgage-backed securities - Commercial – nonagency | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 465 | 1,151 | 432 | 1,207 |
Total realized/unrealized gains/(losses) | 8 | -39 | 28 | -125 |
Purchases | 260 | 302 | 581 | 439 |
Sales | -187 | -113 | -481 | -178 |
Settlements | -34 | -30 | -48 | -72 |
Transfers into and/or out of level 3 | -185 | 0 | -185 | 0 |
Ending Balance | 327 | 1,271 | 327 | 1,271 |
Change in unrealized gains/(losses) related to financial instruments held | 0 | -49 | 4 | -142 |
Total mortgage-backed securities | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 2,330 | 2,603 | 2,163 | 2,368 |
Total realized/unrealized gains/(losses) | 102 | 270 | 149 | 327 |
Purchases | 453 | 439 | 1,297 | 1,266 |
Sales | -513 | -449 | -1,169 | -997 |
Settlements | -79 | -76 | -132 | -172 |
Transfers into and/or out of level 3 | -298 | 0 | -313 | -5 |
Ending Balance | 1,995 | 2,787 | 1,995 | 2,787 |
Change in unrealized gains/(losses) related to financial instruments held | 49 | 200 | 65 | 188 |
Obligations of U.S. states and municipalities | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 1,219 | 1,432 | 1,382 | 1,436 |
Total realized/unrealized gains/(losses) | -35 | -23 | -13 | 18 |
Purchases | 0 | 52 | 0 | 53 |
Sales | -105 | -37 | -290 | -83 |
Settlements | 0 | -203 | 0 | -203 |
Transfers into and/or out of level 3 | ' | 0 | 0 | 0 |
Ending Balance | 1,079 | 1,221 | 1,079 | 1,221 |
Change in unrealized gains/(losses) related to financial instruments held | -44 | -22 | 7 | 17 |
Non-U.S. government debt securities | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 52 | 85 | 143 | 67 |
Total realized/unrealized gains/(losses) | 3 | 9 | 19 | 11 |
Purchases | 25 | 333 | 435 | 634 |
Sales | -3 | -397 | -519 | -682 |
Settlements | -1 | -4 | -2 | -4 |
Transfers into and/or out of level 3 | 52 | 110 | 52 | 110 |
Ending Balance | 128 | 136 | 128 | 136 |
Change in unrealized gains/(losses) related to financial instruments held | 3 | 11 | 24 | 11 |
Corporate debt securities | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 4,873 | 4,852 | 5,920 | 5,308 |
Total realized/unrealized gains/(losses) | 130 | -41 | 368 | -124 |
Purchases | 1,163 | 2,251 | 2,360 | 5,178 |
Sales | -663 | -955 | -2,015 | -3,518 |
Settlements | -823 | -822 | -1,664 | -1,447 |
Transfers into and/or out of level 3 | 113 | 450 | -176 | 338 |
Ending Balance | 4,793 | 5,735 | 4,793 | 5,735 |
Change in unrealized gains/(losses) related to financial instruments held | 74 | 28 | 280 | 30 |
Loans, debt instruments | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 12,521 | 10,032 | 13,455 | 10,787 |
Total realized/unrealized gains/(losses) | 372 | 41 | 691 | -131 |
Purchases | 3,129 | 3,782 | 5,287 | 5,408 |
Sales | -1,108 | -2,265 | -2,902 | -3,750 |
Settlements | -1,172 | -688 | -2,718 | -1,391 |
Transfers into and/or out of level 3 | -221 | 38 | -292 | 17 |
Ending Balance | 13,521 | 10,940 | 13,521 | 10,940 |
Change in unrealized gains/(losses) related to financial instruments held | 376 | 21 | 882 | -229 |
Asset-backed securities | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 1,156 | 1,579 | 1,272 | 3,696 |
Total realized/unrealized gains/(losses) | 46 | 95 | 70 | 159 |
Purchases | 807 | 444 | 1,357 | 1,040 |
Sales | -776 | -557 | -1,332 | -1,534 |
Settlements | -151 | -12 | -171 | -147 |
Transfers into and/or out of level 3 | 134 | -121 | 20 | -1,786 |
Ending Balance | 1,216 | 1,428 | 1,216 | 1,428 |
Change in unrealized gains/(losses) related to financial instruments held | 32 | 56 | 43 | 74 |
Total debt instruments | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 22,151 | 20,583 | 24,335 | 23,662 |
Total realized/unrealized gains/(losses) | 618 | 351 | 1,284 | 260 |
Purchases | 5,577 | 7,301 | 10,736 | 13,579 |
Sales | -3,168 | -4,660 | -8,227 | -10,564 |
Settlements | -2,226 | -1,805 | -4,687 | -3,364 |
Transfers into and/or out of level 3 | -220 | 477 | -709 | -1,326 |
Ending Balance | 22,732 | 22,247 | 22,732 | 22,247 |
Change in unrealized gains/(losses) related to financial instruments held | 490 | 294 | 1,301 | 91 |
Equity securities | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 885 | 1,172 | 885 | 1,114 |
Total realized/unrealized gains/(losses) | 18 | -10 | 99 | -9 |
Purchases | 49 | 111 | 85 | 204 |
Sales | -56 | -57 | -75 | -148 |
Settlements | -25 | -56 | -34 | -65 |
Transfers into and/or out of level 3 | -167 | -121 | -256 | -57 |
Ending Balance | 704 | 1,039 | 704 | 1,039 |
Change in unrealized gains/(losses) related to financial instruments held | 83 | -8 | 147 | -28 |
Physical commodities | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 3 | 0 | 4 | 0 |
Total realized/unrealized gains/(losses) | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | -1 | 0 |
Transfers into and/or out of level 3 | 0 | 16 | 0 | 16 |
Ending Balance | 3 | 16 | 3 | 16 |
Change in unrealized gains/(losses) related to financial instruments held | 0 | 0 | 0 | 0 |
Other debt and equity instruments | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 1,284 | 948 | 2,000 | 863 |
Total realized/unrealized gains/(losses) | 266 | 43 | 169 | 87 |
Purchases | 656 | 54 | 710 | 126 |
Sales | -127 | -18 | -178 | -20 |
Settlements | -67 | -52 | -95 | -81 |
Transfers into and/or out of level 3 | 329 | 130 | -265 | 130 |
Ending Balance | 2,341 | 1,105 | 2,341 | 1,105 |
Change in unrealized gains/(losses) related to financial instruments held | 173 | 38 | 146 | 139 |
Total debt and equity instruments | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 24,323 | 22,703 | 27,224 | 25,639 |
Total realized/unrealized gains/(losses) | 902 | 384 | 1,552 | 338 |
Purchases | 6,282 | 7,466 | 11,531 | 13,909 |
Sales | -3,351 | -4,735 | -8,480 | -10,732 |
Settlements | -2,318 | -1,913 | -4,817 | -3,510 |
Transfers into and/or out of level 3 | -58 | 502 | -1,230 | -1,237 |
Ending Balance | 25,780 | 24,407 | 25,780 | 24,407 |
Change in unrealized gains/(losses) related to financial instruments held | 746 | 324 | 1,594 | 202 |
Interest rate contract | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 2,090 | 2,791 | 2,379 | 3,322 |
Total realized/unrealized gains/(losses) | 2 | 125 | 26 | 431 |
Purchases | 50 | 46 | 98 | 115 |
Sales | -63 | -63 | -106 | -125 |
Settlements | -427 | -989 | -765 | -1,847 |
Transfers into and/or out of level 3 | -119 | 191 | -99 | 205 |
Ending Balance | 1,533 | 2,101 | 1,533 | 2,101 |
Change in unrealized gains/(losses) related to financial instruments held | -49 | 156 | -690 | 45 |
Credit derivatives | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 244 | 1,317 | 95 | 1,873 |
Total realized/unrealized gains/(losses) | -124 | -335 | -239 | -824 |
Purchases | 164 | 3 | 222 | 50 |
Sales | -21 | -1 | -21 | -1 |
Settlements | -79 | -76 | 127 | -189 |
Transfers into and/or out of level 3 | -50 | 13 | -50 | 12 |
Ending Balance | 134 | 921 | 134 | 921 |
Change in unrealized gains/(losses) related to financial instruments held | -91 | -360 | -186 | -836 |
Foreign exchange contracts | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | -1,282 | -1,516 | -1,200 | -1,750 |
Total realized/unrealized gains/(losses) | -143 | 161 | -342 | 45 |
Purchases | 33 | 8 | 94 | -7 |
Sales | -3 | 0 | -19 | -3 |
Settlements | 206 | 137 | 255 | 513 |
Transfers into and/or out of level 3 | -5 | -8 | 18 | -16 |
Ending Balance | -1,194 | -1,218 | -1,194 | -1,218 |
Change in unrealized gains/(losses) related to financial instruments held | -141 | 71 | -291 | -5 |
Equity contracts | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | -1,060 | -1,000 | -1,063 | -1,806 |
Total realized/unrealized gains/(losses) | -774 | -323 | -703 | 539 |
Purchases | 46 | 465 | 847 | 536 |
Sales | -521 | -568 | -1,554 | -647 |
Settlements | 327 | -588 | 452 | -810 |
Transfers into and/or out of level 3 | -224 | -277 | -185 | -103 |
Ending Balance | -2,206 | -2,291 | -2,206 | -2,291 |
Change in unrealized gains/(losses) related to financial instruments held | -204 | 654 | 343 | 604 |
Commodity contracts | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | -58 | 182 | 115 | 254 |
Total realized/unrealized gains/(losses) | -18 | 295 | -172 | 653 |
Purchases | 0 | 0 | 1 | 11 |
Sales | 0 | 0 | 0 | -3 |
Settlements | 29 | -412 | -13 | -854 |
Transfers into and/or out of level 3 | -75 | 6 | -53 | 10 |
Ending Balance | -122 | 71 | -122 | 71 |
Change in unrealized gains/(losses) related to financial instruments held | 16 | 63 | -156 | 240 |
Total net derivative receivables | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | -66 | 1,774 | 326 | 1,893 |
Total realized/unrealized gains/(losses) | -1,057 | -77 | -1,430 | 844 |
Purchases | 293 | 522 | 1,262 | 705 |
Sales | -608 | -632 | -1,700 | -779 |
Settlements | 56 | -1,928 | 56 | -3,187 |
Transfers into and/or out of level 3 | -473 | -75 | -369 | 108 |
Ending Balance | -1,855 | -416 | -1,855 | -416 |
Change in unrealized gains/(losses) related to financial instruments held | -469 | 584 | -980 | 48 |
Asset-backed securities | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 1,127 | 1,130 | 1,088 | 28,024 |
Total realized/unrealized gains/(losses) | -9 | 0 | -11 | 5 |
Purchases | 225 | 0 | 225 | 400 |
Sales | 0 | 0 | -2 | 0 |
Settlements | -21 | -5 | -41 | -44 |
Transfers into and/or out of level 3 | 0 | 0 | 63 | -27,260 |
Ending Balance | 1,322 | 1,125 | 1,322 | 1,125 |
Change in unrealized gains/(losses) related to financial instruments held | -9 | 0 | -11 | 5 |
Other | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 1,190 | 837 | 1,234 | 892 |
Total realized/unrealized gains/(losses) | 1 | 0 | -2 | -9 |
Purchases | 122 | 7 | 122 | 7 |
Sales | 0 | 0 | 0 | -13 |
Settlements | -27 | -20 | -68 | -53 |
Transfers into and/or out of level 3 | -772 | 0 | -772 | 0 |
Ending Balance | 514 | 824 | 514 | 824 |
Change in unrealized gains/(losses) related to financial instruments held | 2 | 0 | -1 | 3 |
Total available-for-sale securities | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 2,317 | 1,967 | 2,322 | 28,916 |
Total realized/unrealized gains/(losses) | -8 | 0 | -13 | -4 |
Purchases | 347 | 7 | 347 | 407 |
Sales | 0 | 0 | -2 | -13 |
Settlements | -48 | -25 | -109 | -97 |
Transfers into and/or out of level 3 | -772 | 0 | -709 | -27,260 |
Ending Balance | 1,836 | 1,949 | 1,836 | 1,949 |
Change in unrealized gains/(losses) related to financial instruments held | -7 | 0 | -12 | 8 |
Loans | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 2,271 | 2,064 | 1,931 | 2,282 |
Total realized/unrealized gains/(losses) | 40 | 6 | 72 | -29 |
Purchases | 2,396 | 103 | 3,080 | 328 |
Sales | 0 | -7 | -142 | -56 |
Settlements | -480 | -323 | -714 | -682 |
Transfers into and/or out of level 3 | 0 | 0 | 0 | 0 |
Ending Balance | 4,227 | 1,843 | 4,227 | 1,843 |
Change in unrealized gains/(losses) related to financial instruments held | 21 | 9 | 47 | -43 |
Mortgage servicing rights | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 8,552 | 7,949 | 9,614 | 7,614 |
Total realized/unrealized gains/(losses) | -149 | 1,038 | -971 | 1,347 |
Purchases | 181 | 655 | 376 | 1,339 |
Sales | 2 | -19 | -186 | -418 |
Settlements | -239 | -288 | -486 | -547 |
Transfers into and/or out of level 3 | 0 | 0 | 0 | 0 |
Ending Balance | 8,347 | 9,335 | 8,347 | 9,335 |
Change in unrealized gains/(losses) related to financial instruments held | -149 | 1,038 | -971 | 1,347 |
Private equity investments | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 5,335 | 6,831 | 6,474 | 7,181 |
Total realized/unrealized gains/(losses) | 168 | 434 | 264 | 165 |
Purchases | 22 | 122 | 109 | 203 |
Sales | -469 | -7 | -1,487 | -103 |
Settlements | -132 | -275 | -436 | -341 |
Transfers into and/or out of level 3 | -41 | 0 | -41 | 0 |
Ending Balance | 4,883 | 7,105 | 4,883 | 7,105 |
Change in unrealized gains/(losses) related to financial instruments held | 131 | 206 | 119 | -188 |
All other assets | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Beginning balance | 2,984 | 3,985 | 3,176 | 4,258 |
Total realized/unrealized gains/(losses) | 47 | 1 | -26 | -25 |
Purchases | 62 | 83 | 135 | 135 |
Sales | -117 | -292 | -154 | -295 |
Settlements | -200 | -97 | -355 | -393 |
Transfers into and/or out of level 3 | 0 | 0 | 0 | 0 |
Ending Balance | 2,776 | 3,680 | 2,776 | 3,680 |
Change in unrealized gains/(losses) related to financial instruments held | $47 | ($11) | ($26) | ($41) |
Fair_Value_Measurement_Changes1
Fair Value Measurement - Changes in Level 3, Supplemental Caption Data (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
In Millions, unless otherwise specified | Total available-for-sale securities | Total available-for-sale securities | Total available-for-sale securities | Total available-for-sale securities | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ' | ' | ' | ' |
Level 3 liabilities as percentage of total firm liabilities at fair value | 16.00% | 18.00% | ' | ' | ' | ' |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss | ' | ' | ($11) | $3 | ($12) | ($15) |
Unrealized gains (losses) recorded in OCI on AFS securities | ' | ' | $3 | ($3) | ($1) | $11 |
Fair_Value_Measurement_Level_31
Fair Value Measurement - Level 3 Analysis (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | Long-term debt | Long-term debt | Long-term debt | Long-term debt | Mortgage servicing rights | Mortgage servicing rights | Mortgage servicing rights | Mortgage servicing rights | Private equity investments | Private equity investments | Private equity investments | Private equity investments | Total net derivative receivables | Total net derivative receivables | Total net derivative receivables | Total net derivative receivables | Loans | Loans | Loans | Loans | Debt and equity instruments | Debt and equity instruments | Debt and equity instruments | Debt and equity instruments | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | Recurring | |
Total net derivative receivables | Total net derivative receivables | Debt and equity instruments | Debt and equity instruments | Level 3 | Level 3 | Level 3 | ||||||||||||||||||||||||||||
Level 3 Analysis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of level 3 assets to total assets | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets measured at fair value on a recurring basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $762,126 | $760,327 | ' | ' | ' | ' | $60,380 | $60,380 | $69,310 |
Increase (decrease) in level 3 assets | ' | ' | ' | ' | ' | ' | ' | -1.3 | ' | ' | ' | -1,600 | ' | ' | ' | ' | ' | 2,000 | ' | 2,300 | ' | ' | ' | ' | ' | ' | ' | -4,900 | -6,000 | 1,500 | -1,400 | -2,800 | -8,900 | ' |
Total realized/unrealized gains/(losses) | ' | ' | ' | ' | ' | -149 | 1,038 | -971 | 1,347 | 168 | 434 | 264 | 165 | -1,057 | -77 | -1,430 | 844 | 40 | 6 | 72 | -29 | 902 | 384 | 1,552 | 338 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total realized/unrealized (gains)/losses | ' | $437 | ($430) | $539 | ($905) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_Measurement_Credit_
Fair Value Measurement - Credit Adjustments Reflected on Balance Sheet (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Credit adjustments | ' | ' |
Derivative receivables balance | $62,378,000,000 | $65,759,000,000 |
Derivative payables balance | 50,795,000,000 | 57,314,000,000 |
Derivatives CVA | -2,099,000,000 | -2,352,000,000 |
Derivatives and structured notes DVA and FVA | -483,000,000 | -322,000,000 |
Structured notes balance (net of structures notes DVA and FVA) | 54,467,000,000 | 48,808,000,000 |
Derivative credit risk valuation adjustment, derivative liabilities | 620,000,000 | 715,000,000 |
Plain Vanilla Financial Instruments | ' | ' |
Credit adjustments | ' | ' |
Structured Notes Balance Net Of DVA | 1,200,000,000 | 1,100,000,000 |
Debit Valuation Adjustment | ' | ' |
Credit adjustments | ' | ' |
Derivatives and structured notes DVA and FVA | 1,131,000,000 | 952,000,000 |
Derivative credit risk valuation adjustment, derivative liabilities | $1,400,000,000 | $1,400,000,000 |
Fair_Value_Measurement_Impact_
Fair Value Measurement - Impact of Credit Adjustments (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Impact of credit adjustments on earnings | ' | ' | ' | ' |
Structured note credit adjustments | $82 | $159 | $5 | $192 |
Credit Valuation Adjustment | ' | ' | ' | ' |
Impact of credit adjustments on earnings | ' | ' | ' | ' |
Derivative credit adjustments | 272 | 549 | 253 | 881 |
Debit Valuation Adjustment and Funding Valuation Adjustment | ' | ' | ' | ' |
Impact of credit adjustments on earnings | ' | ' | ' | ' |
Derivative credit adjustments | -36 | ' | -161 | ' |
Structured note credit adjustments | 162 | ' | 179 | ' |
Debit Valuation Adjustment | ' | ' | ' | ' |
Impact of credit adjustments on earnings | ' | ' | ' | ' |
Derivative credit adjustments | -1 | 104 | -95 | 99 |
Structured note credit adjustments | $134 | $251 | $19 | $382 |
Fair_Value_Measurement_Nonrecu
Fair Value Measurement - Nonrecurring Basis (Details) (USD $) | 3 Months Ended | 6 Months Ended | 0 Months Ended | |||||||||||||||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 |
Minimum | Minimum | Maximum | Maximum | Weighted Average | Weighted Average | Nonrecurring | Nonrecurring | Nonrecurring | Nonrecurring | Nonrecurring | Nonrecurring | Nonrecurring | Nonrecurring | |||||
Price Valuation Technique | Broker Price Opinion Valuation Technique | Price Valuation Technique | Broker Price Opinion Valuation Technique | Price Valuation Technique | Broker Price Opinion Valuation Technique | Level 2 | Level 2 | Level 3 | Level 3 | Level 3 | Level 3 | |||||||
Trade finance loans reclassified to held-for-sale | Residential mortgage | Trade finance loans reclassified to held-for-sale | Residential mortgage | Trade finance loans reclassified to held-for-sale | Residential mortgage | Trade finance loans reclassified to held-for-sale | Residential mortgage | |||||||||||
Assets and liabilities measured at fair value on a nonrecurring basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets at fair value on a nonrecurring basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,400 | $1,600 | $597 | $95 | $2,800 | $1,500 | $2,100 | $542 |
Indicative pricing from external investors | ' | ' | ' | ' | 0.58% | ' | 0.70% | ' | 0.62% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value inputs, liquidation value discount | ' | ' | ' | ' | ' | 12.00% | ' | 64.00% | ' | 29.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value option, changes in fair value gain (loss) | ($318) | ($293) | ($456) | ($521) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_Measurement_Carryin
Fair Value Measurement - Carrying Value and Estimated Fair Value (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Financial assets | ' | ' | ' | ' | ' | ' |
Cash and due from banks | $27,523,000,000 | $29,214,000,000 | $27,523,000,000 | $29,214,000,000 | $39,771,000,000 | $53,723,000,000 |
Deposits with banks | 393,909,000,000 | ' | 393,909,000,000 | ' | 316,051,000,000 | ' |
Federal funds sold and securities purchased under resale agreements | 248,149,000,000 | ' | 248,149,000,000 | ' | 248,116,000,000 | ' |
Securities, held-to-maturity | 49,163,000,000 | ' | 49,163,000,000 | ' | 23,731,000,000 | ' |
Financial liabilities | ' | ' | ' | ' | ' | ' |
Commercial paper | 63,804,000,000 | ' | 63,804,000,000 | ' | 57,848,000,000 | ' |
Other borrowed funds | 34,713,000,000 | ' | 34,713,000,000 | ' | 27,994,000,000 | ' |
Beneficial interests issued by consolidated VIEs | 45,723,000,000 | ' | 45,723,000,000 | ' | 49,617,000,000 | ' |
Trading assets and liabilities average balances Abstract | ' | ' | ' | ' | ' | ' |
Trading assets - debt and equity instruments | 325,426,000,000 | 357,285,000,000 | 320,197,000,000 | 363,952,000,000 | ' | ' |
Trading assets - derivative receivables | 60,830,000,000 | 75,310,000,000 | 62,814,000,000 | 75,115,000,000 | ' | ' |
Trading liabilities - debt and equity instruments | 85,123,000,000 | 75,671,000,000 | 85,230,000,000 | 73,103,000,000 | ' | ' |
Trading liabilities - derivative payables | 49,487,000,000 | 66,246,000,000 | 51,305,000,000 | 67,458,000,000 | ' | ' |
Carrying value | ' | ' | ' | ' | ' | ' |
Financial assets | ' | ' | ' | ' | ' | ' |
Cash and due from banks | 27,500,000,000 | ' | 27,500,000,000 | ' | 39,800,000,000 | ' |
Deposits with banks | 393,900,000,000 | ' | 393,900,000,000 | ' | 316,100,000,000 | ' |
Accrued interest and accounts receivable | 77,100,000,000 | ' | 77,100,000,000 | ' | 65,200,000,000 | ' |
Federal funds sold and securities purchased under resale agreements | 220,300,000,000 | ' | 220,300,000,000 | ' | 223,000,000,000 | ' |
Securities borrowed | 111,800,000,000 | ' | 111,800,000,000 | ' | 107,700,000,000 | ' |
Securities, held-to-maturity | 47,800,000,000 | ' | 47,800,000,000 | ' | 24,000,000,000 | ' |
Loans | 727,400,000,000 | ' | 727,400,000,000 | ' | 720,100,000,000 | ' |
Other | 52,800,000,000 | ' | 52,800,000,000 | ' | 58,200,000,000 | ' |
Financial liabilities | ' | ' | ' | ' | ' | ' |
Deposits | 1,311,800,000,000 | ' | 1,311,800,000,000 | ' | 1,281,100,000,000 | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements | 213,900,000,000 | ' | 213,900,000,000 | ' | 175,700,000,000 | ' |
Commercial paper | 63,800,000,000 | ' | 63,800,000,000 | ' | 57,800,000,000 | ' |
Other borrowed funds | 19,300,000,000 | ' | 19,300,000,000 | ' | 14,700,000,000 | ' |
Accounts payable and other liabilities | 175,200,000,000 | ' | 175,200,000,000 | ' | 160,200,000,000 | ' |
Beneficial interests issued by consolidated VIEs | 43,600,000,000 | ' | 43,600,000,000 | ' | 47,600,000,000 | ' |
Long-term debt and junior subordinated deferrable interest debentures | 238,800,000,000 | ' | 238,800,000,000 | ' | 239,000,000,000 | ' |
Wholesale lending related commitments | 600,000,000 | ' | 600,000,000 | ' | 700,000,000 | ' |
Fair Value | ' | ' | ' | ' | ' | ' |
Financial assets | ' | ' | ' | ' | ' | ' |
Cash and due from banks | 27,500,000,000 | ' | 27,500,000,000 | ' | 39,800,000,000 | ' |
Deposits with banks | 393,900,000,000 | ' | 393,900,000,000 | ' | 316,100,000,000 | ' |
Accrued interest and accounts receivable | 77,100,000,000 | ' | 77,100,000,000 | ' | 65,200,000,000 | ' |
Federal funds sold and securities purchased under resale agreements | 220,300,000,000 | ' | 220,300,000,000 | ' | 223,000,000,000 | ' |
Securities borrowed | 111,800,000,000 | ' | 111,800,000,000 | ' | 107,700,000,000 | ' |
Securities, held-to-maturity | 49,200,000,000 | ' | 49,200,000,000 | ' | 23,700,000,000 | ' |
Loans | 731,700,000,000 | ' | 731,700,000,000 | ' | 720,200,000,000 | ' |
Other | 56,500,000,000 | ' | 56,500,000,000 | ' | 61,900,000,000 | ' |
Financial liabilities | ' | ' | ' | ' | ' | ' |
Deposits | 1,312,100,000,000 | ' | 1,312,100,000,000 | ' | 1,281,500,000,000 | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements | 213,900,000,000 | ' | 213,900,000,000 | ' | 175,700,000,000 | ' |
Commercial paper | 63,800,000,000 | ' | 63,800,000,000 | ' | 57,800,000,000 | ' |
Other borrowed funds | 19,300,000,000 | ' | 19,300,000,000 | ' | 14,700,000,000 | ' |
Accounts payable and other liabilities | 175,100,000,000 | ' | 175,100,000,000 | ' | 160,000,000,000 | ' |
Beneficial interests issued by consolidated VIEs | 43,600,000,000 | ' | 43,600,000,000 | ' | 47,500,000,000 | ' |
Long-term debt and junior subordinated deferrable interest debentures | 246,100,000,000 | ' | 246,100,000,000 | ' | 246,800,000,000 | ' |
Wholesale lending related commitments | 800,000,000 | ' | 800,000,000 | ' | 1,000,000,000 | ' |
Fair Value | Estimate of Fair Value, Level 1 Inputs | ' | ' | ' | ' | ' | ' |
Financial assets | ' | ' | ' | ' | ' | ' |
Cash and due from banks | 27,500,000,000 | ' | 27,500,000,000 | ' | 39,800,000,000 | ' |
Deposits with banks | 387,300,000,000 | ' | 387,300,000,000 | ' | 309,700,000,000 | ' |
Accrued interest and accounts receivable | 0 | ' | 0 | ' | 0 | ' |
Federal funds sold and securities purchased under resale agreements | 0 | ' | 0 | ' | 0 | ' |
Securities borrowed | 0 | ' | 0 | ' | 0 | ' |
Securities, held-to-maturity | 0 | ' | 0 | ' | 0 | ' |
Loans | 0 | ' | 0 | ' | 0 | ' |
Other | 0 | ' | 0 | ' | 0 | ' |
Financial liabilities | ' | ' | ' | ' | ' | ' |
Deposits | 0 | ' | 0 | ' | 0 | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | ' | 0 | ' | 0 | ' |
Commercial paper | 0 | ' | 0 | ' | 0 | ' |
Other borrowed funds | ' | ' | ' | ' | 0 | ' |
Accounts payable and other liabilities | 0 | ' | 0 | ' | 0 | ' |
Beneficial interests issued by consolidated VIEs | 0 | ' | 0 | ' | 0 | ' |
Long-term debt and junior subordinated deferrable interest debentures | 0 | ' | 0 | ' | 0 | ' |
Wholesale lending related commitments | 0 | ' | 0 | ' | 0 | ' |
Fair Value | Estimate of Fair Value, Level 2 Inputs | ' | ' | ' | ' | ' | ' |
Financial assets | ' | ' | ' | ' | ' | ' |
Cash and due from banks | 0 | ' | 0 | ' | 0 | ' |
Deposits with banks | 6,600,000,000 | ' | 6,600,000,000 | ' | 6,400,000,000 | ' |
Accrued interest and accounts receivable | 76,900,000,000 | ' | 76,900,000,000 | ' | 64,900,000,000 | ' |
Federal funds sold and securities purchased under resale agreements | 220,300,000,000 | ' | 220,300,000,000 | ' | 223,000,000,000 | ' |
Securities borrowed | 111,800,000,000 | ' | 111,800,000,000 | ' | 107,700,000,000 | ' |
Securities, held-to-maturity | 49,200,000,000 | ' | 49,200,000,000 | ' | 23,700,000,000 | ' |
Loans | 18,200,000,000 | ' | 18,200,000,000 | ' | 23,000,000,000 | ' |
Other | 49,800,000,000 | ' | 49,800,000,000 | ' | 54,500,000,000 | ' |
Financial liabilities | ' | ' | ' | ' | ' | ' |
Deposits | 1,310,900,000,000 | ' | 1,310,900,000,000 | ' | 1,280,300,000,000 | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements | 213,900,000,000 | ' | 213,900,000,000 | ' | 175,700,000,000 | ' |
Commercial paper | 63,800,000,000 | ' | 63,800,000,000 | ' | 57,800,000,000 | ' |
Other borrowed funds | 19,300,000,000 | ' | 19,300,000,000 | ' | 14,700,000,000 | ' |
Accounts payable and other liabilities | 172,500,000,000 | ' | 172,500,000,000 | ' | 158,200,000,000 | ' |
Beneficial interests issued by consolidated VIEs | 40,600,000,000 | ' | 40,600,000,000 | ' | 44,300,000,000 | ' |
Long-term debt and junior subordinated deferrable interest debentures | 242,700,000,000 | ' | 242,700,000,000 | ' | 240,800,000,000 | ' |
Wholesale lending related commitments | 0 | ' | 0 | ' | 0 | ' |
Fair Value | Estimate of Fair Value, Level 3 Inputs | ' | ' | ' | ' | ' | ' |
Financial assets | ' | ' | ' | ' | ' | ' |
Cash and due from banks | 0 | ' | 0 | ' | 0 | ' |
Deposits with banks | 0 | ' | 0 | ' | 0 | ' |
Accrued interest and accounts receivable | 200,000,000 | ' | 200,000,000 | ' | 300,000,000 | ' |
Federal funds sold and securities purchased under resale agreements | 0 | ' | 0 | ' | 0 | ' |
Securities borrowed | 0 | ' | 0 | ' | 0 | ' |
Securities, held-to-maturity | 0 | ' | 0 | ' | 0 | ' |
Loans | 713,500,000,000 | ' | 713,500,000,000 | ' | 697,200,000,000 | ' |
Other | 6,700,000,000 | ' | 6,700,000,000 | ' | 7,400,000,000 | ' |
Financial liabilities | ' | ' | ' | ' | ' | ' |
Deposits | 1,200,000,000 | ' | 1,200,000,000 | ' | 1,200,000,000 | ' |
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | ' | 0 | ' | 0 | ' |
Commercial paper | 0 | ' | 0 | ' | 0 | ' |
Other borrowed funds | 0 | ' | 0 | ' | 0 | ' |
Accounts payable and other liabilities | 2,600,000,000 | ' | 2,600,000,000 | ' | 1,800,000,000 | ' |
Beneficial interests issued by consolidated VIEs | 3,000,000,000 | ' | 3,000,000,000 | ' | 3,200,000,000 | ' |
Long-term debt and junior subordinated deferrable interest debentures | 3,400,000,000 | ' | 3,400,000,000 | ' | 6,000,000,000 | ' |
Wholesale lending related commitments | $800,000,000 | ' | $800,000,000 | ' | $1,000,000,000 | ' |
Fair_Value_Option_Details
Fair Value Option (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Changes in fair value under the fair value option election | ' | ' | ' | ' |
Federal funds sold and securities purchased under resale agreements | $96 | ($287) | $56 | ($358) |
Securities borrowed | -2 | -8 | -5 | 18 |
Trading assets: | ' | ' | ' | ' |
Debt and equity instruments, excluding loans | 248 | -10 | 476 | 249 |
Loans reported as trading assets: | ' | ' | ' | ' |
Changes in instrument-specific credit risk | 394 | 237 | 766 | 577 |
Other changes in fair value | 438 | 159 | 794 | 1,127 |
Loans: | ' | ' | ' | ' |
Changes in instrument-specific credit risk | 20 | -1 | 28 | -6 |
Other changes in fair value | 24 | 21 | 31 | 21 |
Other assets | -23 | 2 | -130 | -68 |
Deposits | -107 | 219 | -211 | 297 |
Federal funds purchased and securities loaned or sold under repurchase agreements | -18 | 41 | -34 | 45 |
Other borrowed funds | -911 | 734 | -1,171 | 380 |
Trading liabilities | -3 | -14 | -9 | -32 |
Beneficial interests issued by consolidated VIEs | -48 | -69 | -137 | -97 |
Other liabilities | -27 | 0 | -27 | -1 |
Long-term debt: | ' | ' | ' | ' |
Changes in instrument-specific credit risk | 82 | 159 | 5 | 192 |
Other changes in fair value | -773 | 1,000 | -791 | 969 |
Principal transactions | ' | ' | ' | ' |
Changes in fair value under the fair value option election | ' | ' | ' | ' |
Federal funds sold and securities purchased under resale agreements | 96 | -287 | 56 | -358 |
Securities borrowed | -2 | -8 | -5 | 18 |
Trading assets: | ' | ' | ' | ' |
Debt and equity instruments, excluding loans | 245 | -14 | 475 | 242 |
Loans reported as trading assets: | ' | ' | ' | ' |
Changes in instrument-specific credit risk | 391 | 211 | 754 | 539 |
Other changes in fair value | 38 | -94 | 102 | -78 |
Loans: | ' | ' | ' | ' |
Changes in instrument-specific credit risk | 20 | -1 | 28 | -6 |
Other changes in fair value | 24 | 21 | 31 | 21 |
Other assets | 7 | 22 | 12 | 21 |
Deposits | -107 | 219 | -211 | 297 |
Federal funds purchased and securities loaned or sold under repurchase agreements | -18 | 41 | -34 | 45 |
Other borrowed funds | -911 | 734 | -1,171 | 380 |
Trading liabilities | -3 | -14 | -9 | -32 |
Beneficial interests issued by consolidated VIEs | -48 | -69 | -137 | -97 |
Other liabilities | -27 | 0 | -27 | 0 |
Long-term debt: | ' | ' | ' | ' |
Changes in instrument-specific credit risk | 82 | 159 | 5 | 192 |
Other changes in fair value | -773 | 1,000 | -791 | 969 |
Other income | ' | ' | ' | ' |
Changes in fair value under the fair value option election | ' | ' | ' | ' |
Federal funds sold and securities purchased under resale agreements | 0 | 0 | 0 | 0 |
Securities borrowed | 0 | 0 | 0 | 0 |
Trading assets: | ' | ' | ' | ' |
Debt and equity instruments, excluding loans | 3 | 4 | 1 | 7 |
Loans reported as trading assets: | ' | ' | ' | ' |
Changes in instrument-specific credit risk | 3 | 26 | 12 | 38 |
Other changes in fair value | 400 | 253 | 692 | 1,205 |
Loans: | ' | ' | ' | ' |
Changes in instrument-specific credit risk | 0 | 0 | 0 | 0 |
Other changes in fair value | 0 | 0 | 0 | 0 |
Other assets | -30 | -20 | -142 | -89 |
Deposits | 0 | 0 | 0 | 0 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | 0 | 0 | 0 |
Other borrowed funds | 0 | 0 | 0 | 0 |
Trading liabilities | 0 | 0 | 0 | 0 |
Beneficial interests issued by consolidated VIEs | 0 | 0 | 0 | 0 |
Other liabilities | 0 | 0 | 0 | -1 |
Long-term debt: | ' | ' | ' | ' |
Changes in instrument-specific credit risk | 0 | 0 | 0 | 0 |
Other changes in fair value | 0 | 0 | 0 | 0 |
Debit Valuation Adjustment | ' | ' | ' | ' |
Long-term debt: | ' | ' | ' | ' |
Changes in instrument-specific credit risk | 134 | 251 | 19 | 382 |
Debit Valuation Adjustment and Funding Valuation Adjustment | ' | ' | ' | ' |
Long-term debt: | ' | ' | ' | ' |
Changes in instrument-specific credit risk | $162 | ' | $179 | ' |
Fair_Value_Option_Aggregate_Di
Fair Value Option - Aggregate Differences (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Long-term debt | ' | ' |
Long-term debt | $269,929 | $267,889 |
Other Guarantees and Commitments | ' | ' |
Fair Value Option - Supplemental Information | ' | ' |
Other guarantees and commitments, contractual amount | 5,505 | 6,786 |
Other guarantees and commitments, carrying value | -79 | -99 |
Letters of Credit Hedged by Derivative Transactions | Other Guarantees and Commitments | ' | ' |
Fair Value Option - Supplemental Information | ' | ' |
Other guarantees and commitments, contractual amount | 4,500 | 4,500 |
Other guarantees and commitments, carrying value | 106 | 99 |
Carrying value | ' | ' |
Loans | ' | ' |
Nonaccrual loans | 4,676 | 5,365 |
Total loans | 43,795 | 40,052 |
Carrying value | Trading assets | ' | ' |
Loans | ' | ' |
Nonaccrual loans | 4,462 | 5,156 |
All other performing loans | 35,185 | 33,069 |
Carrying value | Total loans | ' | ' |
Loans | ' | ' |
Nonaccrual loans | 214 | 209 |
All other performing loans | 3,934 | 1,618 |
Carrying value | Principal Protected Debt | ' | ' |
Long-term debt | ' | ' |
Long-term debt | 15,634 | 15,797 |
Fair Value | ' | ' |
Loans | ' | ' |
Nonaccrual loans | 1,424 | 1,645 |
Total loans | 37,221 | 32,503 |
Long-term debt | ' | ' |
Long-term debt | 31,142 | 28,878 |
Long-term beneficial interests | ' | ' |
Total long-term beneficial interests | 2,094 | 1,996 |
Fair Value | Trading assets | ' | ' |
Loans | ' | ' |
Nonaccrual loans | 1,270 | 1,491 |
All other performing loans | 31,920 | 29,295 |
Fair Value | Total loans | ' | ' |
Loans | ' | ' |
Nonaccrual loans | 154 | 154 |
All other performing loans | 3,877 | 1,563 |
Fair Value | Principal Protected Debt | ' | ' |
Long-term debt | ' | ' |
Long-term debt | 15,882 | 15,909 |
Fair Value | Non Principal Protected Debt | ' | ' |
Long-term debt | ' | ' |
Long-term debt | 15,260 | 12,969 |
Long-term beneficial interests | ' | ' |
Total long-term beneficial interests | 2,094 | 1,996 |
Fair value over/(under) contractual principal outstanding | ' | ' |
Loans | ' | ' |
Nonaccrual loans | -3,252 | -3,720 |
Total loans | -6,574 | -7,549 |
Fair value over/(under) contractual principal outstanding | Trading assets | ' | ' |
Loans | ' | ' |
Nonaccrual loans | -3,192 | -3,665 |
All other performing loans | -3,265 | -3,774 |
Fair value over/(under) contractual principal outstanding | Total loans | ' | ' |
Loans | ' | ' |
Nonaccrual loans | -60 | -55 |
All other performing loans | -57 | -55 |
Fair value over/(under) contractual principal outstanding | Principal Protected Debt | ' | ' |
Long-term debt | ' | ' |
Long-term debt | $248 | $112 |
Fair_Value_Option_Structured_N
Fair Value Option - Structured Note Products by Balance Sheet Classification and Risk Component (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | $53,232 | $47,661 |
Long-term debt | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 30,907 | 28,427 |
Other borrowed funds | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 14,820 | 13,068 |
Deposits | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 7,505 | 6,166 |
Interest rate | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 12,701 | 11,401 |
Interest rate | Long-term debt | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 10,505 | 9,516 |
Interest rate | Other borrowed funds | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 461 | 615 |
Interest rate | Deposits | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 1,735 | 1,270 |
Credit | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 4,553 | 4,261 |
Credit | Long-term debt | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 4,429 | 4,248 |
Credit | Other borrowed funds | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 124 | 13 |
Credit | Deposits | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 0 | 0 |
Foreign exchange | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 2,459 | 2,542 |
Foreign exchange | Long-term debt | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 2,307 | 2,321 |
Foreign exchange | Other borrowed funds | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 136 | 194 |
Foreign exchange | Deposits | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 16 | 27 |
Equity | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 30,206 | 26,754 |
Equity | Long-term debt | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 12,512 | 11,082 |
Equity | Other borrowed funds | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 13,510 | 11,936 |
Equity | Deposits | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 4,184 | 3,736 |
Commodity | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 3,313 | 2,703 |
Commodity | Long-term debt | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 1,154 | 1,260 |
Commodity | Other borrowed funds | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | 589 | 310 |
Commodity | Deposits | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Structured notes balance | $1,570 | $1,133 |
Derivative_Instruments_Notiona
Derivative Instruments - Notional Amount of Derivative Contracts (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Billions, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | $68,878 | $70,413 |
Interest rate contracts | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 52,494 | 54,705 |
Interest rate contracts | Swaps | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 30,929 | 35,221 |
Interest rate contracts | Futures and forwards | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 12,556 | 11,251 |
Interest rate contracts | Written options(a) | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 4,305 | 4,046 |
Interest rate contracts | Purchased options | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 4,704 | 4,187 |
Credit derivatives | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 5,100 | 5,331 |
Foreign exchange contracts | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 9,431 | 8,572 |
Foreign exchange contracts | Written options(a) | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 725 | 659 |
Foreign exchange contracts | Purchased options | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 716 | 652 |
Foreign exchange contracts | Cross-currency swaps | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 3,680 | 3,488 |
Foreign exchange contracts | Spot, futures and forwards | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 4,310 | 3,773 |
Equity contracts | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 1,109 | 1,042 |
Equity contracts | Swaps | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 198 | 187 |
Equity contracts | Futures and forwards | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 46 | 50 |
Equity contracts | Written options(a) | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 474 | 425 |
Equity contracts | Purchased options | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 391 | 380 |
Commodity contracts | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 744 | 763 |
Commodity contracts | Swaps | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 130 | 124 |
Commodity contracts | Written options(a) | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 200 | 202 |
Commodity contracts | Purchased options | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | 196 | 203 |
Commodity contracts | Spot, futures and forwards | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative notional amounts | $218 | $234 |
Derivative_Instruments_Impact_
Derivative Instruments - Impact on Balance Sheet (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Derivatives, Fair Value | ' | ' |
Gross derivative receivables | $1,100,524 | $1,180,467 |
Net derivative receivables | 62,378 | 65,759 |
Gross derivative payables | 1,071,843 | 1,160,149 |
Net derivative payables | 50,795 | 57,314 |
Interest rate contracts | ' | ' |
Derivatives, Fair Value | ' | ' |
Gross derivative receivables | 820,301 | 854,679 |
Net derivative receivables | 28,829 | 25,782 |
Gross derivative payables | 787,218 | 825,354 |
Net derivative payables | 15,089 | 13,283 |
Credit derivatives | ' | ' |
Derivatives, Fair Value | ' | ' |
Gross derivative receivables | 81,052 | 83,520 |
Net derivative receivables | 2,964 | 1,516 |
Gross derivative payables | 79,556 | 82,402 |
Net derivative payables | 2,832 | 2,281 |
Foreign exchange contracts | ' | ' |
Derivatives, Fair Value | ' | ' |
Gross derivative receivables | 113,251 | 153,599 |
Net derivative receivables | 11,625 | 16,790 |
Gross derivative payables | 114,684 | 160,125 |
Net derivative payables | 11,682 | 15,947 |
Equity contracts | ' | ' |
Derivatives, Fair Value | ' | ' |
Gross derivative receivables | 49,794 | 52,931 |
Net derivative receivables | 9,377 | 12,227 |
Gross derivative payables | 53,524 | 54,654 |
Net derivative payables | 11,024 | 14,719 |
Commodity contracts | ' | ' |
Derivatives, Fair Value | ' | ' |
Gross derivative receivables | 36,126 | 35,738 |
Net derivative receivables | 9,583 | 9,444 |
Gross derivative payables | 36,861 | 37,614 |
Net derivative payables | 10,168 | 11,084 |
Not designated as hedges | ' | ' |
Derivatives, Fair Value | ' | ' |
Gross derivative receivables | 1,096,133 | 1,174,224 |
Gross derivative payables | 1,067,426 | 1,154,200 |
Not designated as hedges | Interest rate contracts | ' | ' |
Derivatives, Fair Value | ' | ' |
Gross derivative receivables | 817,201 | 851,189 |
Gross derivative payables | 784,808 | 820,811 |
Not designated as hedges | Credit derivatives | ' | ' |
Derivatives, Fair Value | ' | ' |
Gross derivative receivables | 81,052 | 83,520 |
Gross derivative payables | 79,556 | 82,402 |
Not designated as hedges | Foreign exchange contracts | ' | ' |
Derivatives, Fair Value | ' | ' |
Gross derivative receivables | 112,243 | 152,240 |
Gross derivative payables | 113,357 | 158,728 |
Not designated as hedges | Equity contracts | ' | ' |
Derivatives, Fair Value | ' | ' |
Gross derivative receivables | 49,794 | 52,931 |
Gross derivative payables | 53,524 | 54,654 |
Not designated as hedges | Commodity contracts | ' | ' |
Derivatives, Fair Value | ' | ' |
Gross derivative receivables | 35,843 | 34,344 |
Gross derivative payables | 36,181 | 37,605 |
Designated as hedges | ' | ' |
Derivatives, Fair Value | ' | ' |
Gross derivative receivables | 4,391 | 6,243 |
Gross derivative payables | 4,417 | 5,949 |
Designated as hedges | Interest rate contracts | ' | ' |
Derivatives, Fair Value | ' | ' |
Gross derivative receivables | 3,100 | 3,490 |
Gross derivative payables | 2,410 | 4,543 |
Designated as hedges | Credit derivatives | ' | ' |
Derivatives, Fair Value | ' | ' |
Gross derivative receivables | 0 | 0 |
Gross derivative payables | 0 | 0 |
Designated as hedges | Foreign exchange contracts | ' | ' |
Derivatives, Fair Value | ' | ' |
Gross derivative receivables | 1,008 | 1,359 |
Gross derivative payables | 1,327 | 1,397 |
Designated as hedges | Equity contracts | ' | ' |
Derivatives, Fair Value | ' | ' |
Gross derivative receivables | 0 | 0 |
Gross derivative payables | 0 | 0 |
Designated as hedges | Commodity contracts | ' | ' |
Derivatives, Fair Value | ' | ' |
Gross derivative receivables | 283 | 1,394 |
Gross derivative payables | $680 | $9 |
Derivative_Instruments_Derivat
Derivative Instruments - Derivatives Netting (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | $1,083,987,000,000 | $1,164,733,000,000 |
Amounts netted on the Consolidated balance sheets | -1,038,146,000,000 | -1,114,708,000,000 |
Net derivative receivables | 45,841,000,000 | 50,025,000,000 |
Derivative receivables where an appropriate legal opinion has not been either sought or obtained | 16,537,000,000 | 15,734,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Gross derivative receivables | 1,100,524,000,000 | 1,180,467,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Net derivative receivables | 62,378,000,000 | 65,759,000,000 |
Derivative asset, collateral, obligations to return cash, offset | 62,000,000,000 | 63,900,000,000 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 1,055,642,000,000 | 1,144,452,000,000 |
Amounts netted on the Consolidated balance sheets | -1,021,048,000,000 | -1,102,835,000,000 |
Derivative derivative payables | 34,594,000,000 | 41,617,000,000 |
Derivative payables where an appropriate legal opinion has not been either sought or obtained | 16,201,000,000 | 15,697,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Gross derivative payables | 1,071,843,000,000 | 1,160,149,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Net derivative payables | 50,795,000,000 | 57,314,000,000 |
Derivative liability, collateral, right to reclaim cash, offset | 44,900,000,000 | 52,100,000,000 |
Interest rate contracts | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 814,260,000,000 | 848,875,000,000 |
Amounts netted on the Consolidated balance sheets | -791,472,000,000 | -828,897,000,000 |
Net derivative receivables | 22,788,000,000 | 19,978,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Gross derivative receivables | 820,301,000,000 | 854,679,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Net derivative receivables | 28,829,000,000 | 25,782,000,000 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 784,288,000,000 | 822,548,000,000 |
Amounts netted on the Consolidated balance sheets | -772,129,000,000 | -812,071,000,000 |
Derivative derivative payables | 12,159,000,000 | 10,477,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Gross derivative payables | 787,218,000,000 | 825,354,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Net derivative payables | 15,089,000,000 | 13,283,000,000 |
Interest rate contracts | Over the Counter | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 498,230,000,000 | 486,449,000,000 |
Amounts netted on the Consolidated balance sheets | -475,647,000,000 | -466,493,000,000 |
Net derivative receivables | 22,583,000,000 | 19,956,000,000 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 472,544,000,000 | 467,850,000,000 |
Amounts netted on the Consolidated balance sheets | -461,345,000,000 | -458,081,000,000 |
Derivative derivative payables | 11,199,000,000 | 9,769,000,000 |
Interest rate contracts | OTC-cleared | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 316,030,000,000 | 362,426,000,000 |
Amounts netted on the Consolidated balance sheets | -315,825,000,000 | -362,404,000,000 |
Net derivative receivables | 205,000,000 | 22,000,000 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 311,744,000,000 | 354,698,000,000 |
Amounts netted on the Consolidated balance sheets | -310,784,000,000 | -353,990,000,000 |
Derivative derivative payables | 960,000,000 | 708,000,000 |
Interest rate contracts | Exchange-traded | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Net derivative receivables | 0 | 0 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative derivative payables | 0 | 0 |
Credit derivatives | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 80,565,000,000 | 83,110,000,000 |
Amounts netted on the Consolidated balance sheets | -78,088,000,000 | -82,004,000,000 |
Net derivative receivables | 2,477,000,000 | 1,106,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Gross derivative receivables | 81,052,000,000 | 83,520,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Net derivative receivables | 2,964,000,000 | 1,516,000,000 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 79,092,000,000 | 81,729,000,000 |
Amounts netted on the Consolidated balance sheets | -76,724,000,000 | -80,121,000,000 |
Derivative derivative payables | 2,368,000,000 | 1,608,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Gross derivative payables | 79,556,000,000 | 82,402,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Net derivative payables | 2,832,000,000 | 2,281,000,000 |
Credit derivatives | Over the Counter | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 69,143,000,000 | 66,269,000,000 |
Amounts netted on the Consolidated balance sheets | -68,041,000,000 | -65,725,000,000 |
Net derivative receivables | 1,102,000,000 | 544,000,000 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 67,182,000,000 | 65,223,000,000 |
Amounts netted on the Consolidated balance sheets | -65,923,000,000 | -63,671,000,000 |
Derivative derivative payables | 1,259,000,000 | 1,552,000,000 |
Credit derivatives | OTC-cleared | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 11,422,000,000 | 16,841,000,000 |
Amounts netted on the Consolidated balance sheets | -10,047,000,000 | -16,279,000,000 |
Net derivative receivables | 1,375,000,000 | 562,000,000 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 11,910,000,000 | 16,506,000,000 |
Amounts netted on the Consolidated balance sheets | -10,801,000,000 | -16,450,000,000 |
Derivative derivative payables | 1,109,000,000 | 56,000,000 |
Foreign exchange contract | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 110,304,000,000 | 148,999,000,000 |
Amounts netted on the Consolidated balance sheets | -101,626,000,000 | -136,809,000,000 |
Net derivative receivables | 8,678,000,000 | 12,190,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Gross derivative receivables | 113,251,000,000 | 153,599,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Net derivative receivables | 11,625,000,000 | 16,790,000,000 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 110,917,000,000 | 155,171,000,000 |
Amounts netted on the Consolidated balance sheets | -103,002,000,000 | -144,178,000,000 |
Derivative derivative payables | 7,915,000,000 | 10,993,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Gross derivative payables | 114,684,000,000 | 160,125,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Net derivative payables | 11,682,000,000 | 15,947,000,000 |
Foreign exchange contract | Over the Counter | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 110,256,000,000 | 148,953,000,000 |
Amounts netted on the Consolidated balance sheets | -101,578,000,000 | -136,763,000,000 |
Net derivative receivables | 8,678,000,000 | 12,190,000,000 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 110,876,000,000 | 155,110,000,000 |
Amounts netted on the Consolidated balance sheets | -102,961,000,000 | -144,119,000,000 |
Derivative derivative payables | 7,915,000,000 | 10,991,000,000 |
Foreign exchange contract | OTC-cleared | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 48,000,000 | 46,000,000 |
Amounts netted on the Consolidated balance sheets | -48,000,000 | -46,000,000 |
Net derivative receivables | 0 | 0 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 41,000,000 | 61,000,000 |
Amounts netted on the Consolidated balance sheets | -41,000,000 | -59,000,000 |
Derivative derivative payables | 0 | 2,000,000 |
Foreign exchange contract | Exchange-traded | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Net derivative receivables | 0 | 0 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative derivative payables | 0 | 0 |
Equity contracts | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 43,493,000,000 | 49,602,000,000 |
Amounts netted on the Consolidated balance sheets | -40,417,000,000 | -40,704,000,000 |
Net derivative receivables | 3,076,000,000 | 8,898,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Gross derivative receivables | 49,794,000,000 | 52,931,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Net derivative receivables | 9,377,000,000 | 12,227,000,000 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 47,479,000,000 | 50,644,000,000 |
Amounts netted on the Consolidated balance sheets | -42,500,000,000 | -39,935,000,000 |
Derivative derivative payables | 4,979,000,000 | 10,709,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Gross derivative payables | 53,524,000,000 | 54,654,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Net derivative payables | 11,024,000,000 | 14,719,000,000 |
Equity contracts | Over the Counter | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 23,441,000,000 | 31,870,000,000 |
Amounts netted on the Consolidated balance sheets | -23,026,000,000 | -29,289,000,000 |
Net derivative receivables | 415,000,000 | 2,581,000,000 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 29,222,000,000 | 33,295,000,000 |
Amounts netted on the Consolidated balance sheets | -25,109,000,000 | -28,520,000,000 |
Derivative derivative payables | 4,113,000,000 | 4,775,000,000 |
Equity contracts | OTC-cleared | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Net derivative receivables | 0 | 0 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative derivative payables | 0 | 0 |
Equity contracts | Exchange-traded | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 20,052,000,000 | 17,732,000,000 |
Amounts netted on the Consolidated balance sheets | -17,391,000,000 | -11,415,000,000 |
Net derivative receivables | 2,661,000,000 | 6,317,000,000 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 18,257,000,000 | 17,349,000,000 |
Amounts netted on the Consolidated balance sheets | -17,391,000,000 | -11,415,000,000 |
Derivative derivative payables | 866,000,000 | 5,934,000,000 |
Commodity contracts | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 35,365,000,000 | 34,147,000,000 |
Amounts netted on the Consolidated balance sheets | -26,543,000,000 | -26,294,000,000 |
Net derivative receivables | 8,822,000,000 | 7,853,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Gross derivative receivables | 36,126,000,000 | 35,738,000,000 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Net derivative receivables | 9,583,000,000 | 9,444,000,000 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 33,866,000,000 | 34,360,000,000 |
Amounts netted on the Consolidated balance sheets | -26,693,000,000 | -26,530,000,000 |
Derivative derivative payables | 7,173,000,000 | 7,830,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Gross derivative payables | 36,861,000,000 | 37,614,000,000 |
Total derivative payables recognized on the Consolidated Balance Sheets, Net derivative payables | 10,168,000,000 | 11,084,000,000 |
Commodity contracts | Over the Counter | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 21,951,000,000 | 21,619,000,000 |
Amounts netted on the Consolidated balance sheets | -14,860,000,000 | -15,082,000,000 |
Net derivative receivables | 7,091,000,000 | 6,537,000,000 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 20,689,000,000 | 21,993,000,000 |
Amounts netted on the Consolidated balance sheets | -15,010,000,000 | -15,318,000,000 |
Derivative derivative payables | 5,679,000,000 | 6,675,000,000 |
Commodity contracts | OTC-cleared | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Net derivative receivables | 0 | 0 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative derivative payables | 0 | 0 |
Commodity contracts | Exchange-traded | ' | ' |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ' | ' |
Gross derivative receivables | 13,414,000,000 | 12,528,000,000 |
Amounts netted on the Consolidated balance sheets | -11,683,000,000 | -11,212,000,000 |
Net derivative receivables | 1,731,000,000 | 1,316,000,000 |
Gross and Net Derivatives Payables by Contract and Settlment Type: | ' | ' |
Gross derivative payables | 13,177,000,000 | 12,367,000,000 |
Amounts netted on the Consolidated balance sheets | -11,683,000,000 | -11,212,000,000 |
Derivative derivative payables | $1,494,000,000 | $1,155,000,000 |
Derivative_Instruments_Collate
Derivative Instruments - Collateral (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Derivative receivable collateral: | ' | ' |
Net derivative receivables | $45,841 | $50,025 |
Collateral not nettable on the Consolidated balance sheets | -10,707 | -12,414 |
Net exposure | 35,134 | 37,611 |
Derivative payable collateral: | ' | ' |
Net derivative payables | 34,594 | 41,617 |
Collateral not nettable on the Consolidated balance sheets | -7,302 | -6,873 |
Net amount | $27,292 | $34,744 |
Derivative_Instruments_Liquidi
Derivative Instruments - Liquidity Risk and Credit-Related Contingent Features (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
OTC and OTC-cleared derivative payables containing downgrade triggers | ' | ' |
Aggregate fair value of net derivative payables | $22,077 | $24,631 |
Collateral posted | 17,569 | 20,346 |
Single-notch downgrade | ' | ' |
Liquidity impact of downgrade triggers on OTC and OTC-cleared derivatives | ' | ' |
Amount of additional collateral to be posted upon downgrade | 929 | 952 |
Amount required to settle contracts with termination triggers upon downgrade | 578 | 540 |
Two-notch downgrade | ' | ' |
Liquidity impact of downgrade triggers on OTC and OTC-cleared derivatives | ' | ' |
Amount of additional collateral to be posted upon downgrade | 3,337 | 3,244 |
Amount required to settle contracts with termination triggers upon downgrade | $920 | $876 |
Derivative_Instruments_Impact_1
Derivative Instruments - Impact on Statements of Income, Fair Value Hedges (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Fair value hedge gains (losses) recorded in income | ' | ' | ' | ' |
Derivatives | ($371) | ($1,370) | $154 | $2,635 |
Hedged items | 698 | 979 | 477 | -2,623 |
Total income statement impact | 327 | -391 | 631 | 12 |
Hedge ineffectiveness | 56 | -54 | 100 | -112 |
Excluded components | 271 | -337 | 531 | 124 |
Interest rate contracts | ' | ' | ' | ' |
Fair value hedge gains (losses) recorded in income | ' | ' | ' | ' |
Derivatives | 578 | -2,107 | 1,321 | -2,606 |
Hedged items | -261 | 2,434 | -668 | 3,309 |
Total income statement impact | 317 | 327 | 653 | 703 |
Hedge ineffectiveness | 43 | -60 | 72 | -100 |
Excluded components | 274 | 387 | 581 | 803 |
Foreign exchange contracts | ' | ' | ' | ' |
Fair value hedge gains (losses) recorded in income | ' | ' | ' | ' |
Derivatives | -388 | 280 | -786 | 4,033 |
Hedged items | 307 | -368 | 631 | -4,120 |
Total income statement impact | -81 | -88 | -155 | -87 |
Hedge ineffectiveness | 0 | 0 | 0 | 0 |
Excluded components | -81 | -88 | -155 | -87 |
Commodity contracts | ' | ' | ' | ' |
Fair value hedge gains (losses) recorded in income | ' | ' | ' | ' |
Derivatives | -561 | 457 | -381 | 1,208 |
Hedged items | 652 | -1,087 | 514 | -1,812 |
Total income statement impact | 91 | -630 | 133 | -604 |
Hedge ineffectiveness | 13 | 6 | 28 | -12 |
Excluded components | $78 | ($636) | $105 | ($592) |
Derivative_Instruments_Impact_2
Derivative Instruments - Impact on Statements of Income, Cash Flow Hedges (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Cash flow hedge gains and losses [Abstract] | ' | ' | ' | ' |
Recognition of gains related to cash flow hedges in Income | ' | ' | $71 | ' |
Maximum length of time hedged in forecasted transactions | ' | ' | '9 years | ' |
Cash flow hedges | ' | ' | ' | ' |
Cash flow hedge gains and losses [Abstract] | ' | ' | ' | ' |
Total change in OCI for period | 114 | -478 | 213 | -579 |
Cash Flow Hedging | ' | ' | ' | ' |
Cash flow hedge gains and losses [Abstract] | ' | ' | ' | ' |
Hedge ineffectiveness recorded directly in income | 0 | 0 | 0 | 0 |
Derivative credit adjustments | 29 | -34 | 2 | -63 |
Cash Flow Hedging | Interest rate contracts | ' | ' | ' | ' |
Cash flow hedge gains and losses [Abstract] | ' | ' | ' | ' |
Derivatives - effective portion reclassified from AOCI to income | -10 | -14 | -36 | -41 |
Hedge ineffectiveness recorded directly in income | 0 | 0 | 0 | 0 |
Derivative credit adjustments | -10 | -14 | -36 | -41 |
Derivatives - effective portion recorded in OCI | 71 | -500 | 134 | -526 |
Total change in OCI for period | 81 | -486 | 170 | -485 |
Cash Flow Hedging | Foreign exchange contracts | ' | ' | ' | ' |
Cash flow hedge gains and losses [Abstract] | ' | ' | ' | ' |
Derivatives - effective portion reclassified from AOCI to income | 39 | -20 | 38 | -22 |
Hedge ineffectiveness recorded directly in income | 0 | 0 | 0 | 0 |
Derivative credit adjustments | 39 | -20 | 38 | -22 |
Derivatives - effective portion recorded in OCI | 72 | -12 | 81 | -116 |
Total change in OCI for period | 33 | 8 | 43 | -94 |
Cash Flow Hedging | Cash flow hedges | ' | ' | ' | ' |
Cash flow hedge gains and losses [Abstract] | ' | ' | ' | ' |
Derivatives - effective portion reclassified from AOCI to income | 29 | -34 | 2 | -63 |
Derivatives - effective portion recorded in OCI | 143 | -512 | 215 | -642 |
Total change in OCI for period | $114 | ($478) | $213 | ($579) |
Derivative_Instruments_Impact_3
Derivative Instruments - Impact on Statements of Income, Net Investment Hedges (Details) (Net Investment Hedging, Foreign exchange contracts, USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Net Investment Hedging | Foreign exchange contracts | ' | ' | ' | ' |
Net investment hedge gains and losses [Abstract] | ' | ' | ' | ' |
Gains/(losses) - excluded components recorded directly in income | ($122) | ($85) | ($227) | ($162) |
Gains/(losses) - effective portion recorded in OCI | ($208) | $571 | ($362) | $991 |
Derivative_Instruments_Impact_4
Derivative Instruments - Impact on Statements of Income, Risk Management Derivatives (Details) (Risk Management Activities, Not designated as hedges, USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Risk management derivatives gains and losses [Abstract] | ' | ' | ' | ' |
Income statement impact | $541 | $301 | $1,225 | $763 |
Interest rate contracts | ' | ' | ' | ' |
Risk management derivatives gains and losses [Abstract] | ' | ' | ' | ' |
Income statement impact | 589 | 269 | 1,107 | 727 |
Credit derivatives | ' | ' | ' | ' |
Risk management derivatives gains and losses [Abstract] | ' | ' | ' | ' |
Income statement impact | -24 | -8 | -41 | -39 |
Foreign exchange contracts | ' | ' | ' | ' |
Risk management derivatives gains and losses [Abstract] | ' | ' | ' | ' |
Income statement impact | -3 | 0 | -3 | 1 |
Commodity contracts | ' | ' | ' | ' |
Risk management derivatives gains and losses [Abstract] | ' | ' | ' | ' |
Income statement impact | ($21) | $40 | $162 | $74 |
Derivative_Instruments_Credit_
Derivative Instruments - Credit Derivatives (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Total credit derivatives and credit-related notes | ' | ' |
Protection sold | ($2,434,341) | ($2,645,848) |
Protection purchased with identical underlyings | 2,621,356 | 2,656,119 |
Net protection (sold)/purchased | 187,015 | 10,271 |
Other protection purchased | 46,990 | 31,922 |
Total credit derivatives | ' | ' |
Total credit derivatives and credit-related notes | ' | ' |
Protection sold | -2,434,227 | -2,645,718 |
Protection purchased with identical underlyings | 2,621,356 | 2,656,119 |
Net protection (sold)/purchased | 187,129 | 10,401 |
Other protection purchased | 44,098 | 29,202 |
Credit default swaps | ' | ' |
Total credit derivatives and credit-related notes | ' | ' |
Protection sold | -2,370,387 | -2,601,581 |
Protection purchased with identical underlyings | 2,573,221 | 2,610,198 |
Net protection (sold)/purchased | 202,834 | 8,617 |
Other protection purchased | 19,406 | 8,722 |
Other credit derivatives | ' | ' |
Total credit derivatives and credit-related notes | ' | ' |
Protection sold | -63,840 | -44,137 |
Protection purchased with identical underlyings | 48,135 | 45,921 |
Net protection (sold)/purchased | -15,705 | 1,784 |
Other protection purchased | 24,692 | 20,480 |
Credit-related notes | ' | ' |
Total credit derivatives and credit-related notes | ' | ' |
Protection sold | -114 | -130 |
Protection purchased with identical underlyings | 0 | 0 |
Net protection (sold)/purchased | -114 | -130 |
Other protection purchased | $2,892 | $2,720 |
Derivative_Instruments_Credit_1
Derivative Instruments - Credit Derivatives, Protection Sold, Notional and Fair Value (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
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 | ($567,147) | ($509,252) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - from one to five years | -1,744,767 | -2,014,444 |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - more than five years | -122,427 | -122,152 |
Total notional amount | -2,434,341 | -2,645,848 |
Fair value | 43,152 | 36,818 |
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 | -416,698 | -368,712 |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - from one to five years | -1,280,933 | -1,469,773 |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - more than five years | -94,729 | -93,209 |
Total notional amount | -1,792,360 | -1,931,694 |
Fair value | 30,960 | 26,066 |
Noninvestment-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 | -150,449 | -140,540 |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - from one to five years | -463,834 | -544,671 |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - more than five years | -27,698 | -28,943 |
Total notional amount | -641,981 | -714,154 |
Fair value | 12,192 | 10,752 |
Trading assets | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Fair value | 60,330 | 59,156 |
Trading assets | Investment-grade | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Fair value | 33,363 | 31,730 |
Trading assets | Noninvestment-grade | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Fair value | 26,967 | 27,426 |
Trading Liabilities | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Fair value | -17,178 | -22,338 |
Trading Liabilities | Investment-grade | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Fair value | -2,403 | -5,664 |
Trading Liabilities | Noninvestment-grade | ' | ' |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ' | ' |
Fair value | ($14,775) | ($16,674) |
Noninterest_Revenue_Details
Noninterest Revenue (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Underwriting: | ' | ' | ' | ' |
Total underwriting | $1,353 | $1,413 | $2,389 | $2,603 |
Advisory | 398 | 304 | 782 | 559 |
Total investment banking fees | 1,751 | 1,717 | 3,171 | 3,162 |
Principal transactions revenue | ' | ' | ' | ' |
Trading revenue | 2,677 | 3,280 | 5,577 | 7,313 |
Private equity gains/(losses) | 231 | 480 | 653 | 208 |
Principal transactions | 2,908 | 3,760 | 6,230 | 7,521 |
Asset management fees | ' | ' | ' | ' |
Investment Management Fees | 2,260 | 1,948 | 4,356 | 3,773 |
All other asset management fees | 131 | 139 | 254 | 263 |
Total asset management fees | 2,391 | 2,087 | 4,610 | 4,036 |
Total administration fees | 564 | 548 | 1,091 | 1,075 |
Commission and other fees | ' | ' | ' | ' |
Brokerage commissions | 567 | 625 | 1,199 | 1,205 |
All other commissions and fees | 485 | 605 | 943 | 1,148 |
Total commissions and fees | 1,052 | 1,230 | 2,142 | 2,353 |
Total asset management, administration and commissions | 4,007 | 3,865 | 7,843 | 7,464 |
Other income in operating lease income | 422 | 363 | 820 | 712 |
Interest rate | ' | ' | ' | ' |
Principal transactions revenue | ' | ' | ' | ' |
Trading revenue | 626 | 434 | 981 | 884 |
Credit | ' | ' | ' | ' |
Principal transactions revenue | ' | ' | ' | ' |
Trading revenue | 603 | 701 | 1,129 | 2,002 |
Foreign exchange | ' | ' | ' | ' |
Principal transactions revenue | ' | ' | ' | ' |
Trading revenue | 342 | 701 | 868 | 1,202 |
Equity | ' | ' | ' | ' |
Principal transactions revenue | ' | ' | ' | ' |
Trading revenue | 759 | 897 | 1,564 | 1,986 |
Commodity | ' | ' | ' | ' |
Principal transactions revenue | ' | ' | ' | ' |
Trading revenue | 347 | 547 | 1,035 | 1,239 |
Equity Securities | ' | ' | ' | ' |
Underwriting: | ' | ' | ' | ' |
Total underwriting | 477 | 457 | 830 | 730 |
Debt Securities | ' | ' | ' | ' |
Underwriting: | ' | ' | ' | ' |
Total underwriting | $876 | $956 | $1,559 | $1,873 |
Interest_Income_and_Interest_E2
Interest Income and Interest Expense (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Interest income | ' | ' | ' | ' |
Loans | $8,039 | $8,341 | $16,078 | $16,854 |
Taxable securities | 1,940 | 1,581 | 3,840 | 3,288 |
Tax-exempt securities | 337 | 197 | 654 | 380 |
Trading assets | 1,827 | 2,124 | 3,598 | 4,335 |
Federal funds sold and securities purchased under resale agreements | 398 | 490 | 834 | 1,004 |
Securities borrowed(a) | -131 | -30 | -219 | -36 |
Deposits with banks | 279 | 222 | 535 | 385 |
Other assets | 172 | 147 | 334 | 227 |
Total interest income | 12,861 | 13,072 | 25,654 | 26,437 |
Interest expense | ' | ' | ' | ' |
Interest-bearing deposits | 417 | 539 | 843 | 1,084 |
Short-term and other liabilities | 455 | 442 | 883 | 900 |
Long-term debt | 1,086 | 1,261 | 2,253 | 2,556 |
Beneficial interests issued by consolidated VIEs | 105 | 126 | 210 | 260 |
Total interest expense | 2,063 | 2,368 | 4,189 | 4,800 |
Net interest income | 10,798 | 10,704 | 21,465 | 21,637 |
Provision for credit losses | 692 | 47 | 1,542 | 664 |
Net interest income after provision for credit losses | 10,106 | 10,657 | 19,923 | 20,973 |
Securities Investment | ' | ' | ' | ' |
Interest income | ' | ' | ' | ' |
Total interest income | $2,277 | $1,778 | $4,494 | $3,668 |
Pension_and_Other_Postretireme2
Pension and Other Postretirement Employee Benefit Plans - Net Periodic Benefit Costs (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Pension plans, U.S. | ' | ' | ' | ' |
Components of net periodic benefit cost [Abstract] | ' | ' | ' | ' |
Benefits earned during the period | $70 | $79 | $140 | $157 |
Interest cost on benefit obligations | 134 | 111 | 268 | 223 |
Expected return on plan assets | -246 | -238 | -492 | -477 |
Amortization: | ' | ' | ' | ' |
Net (gain)/loss | 7 | 67 | 13 | 135 |
Prior service cost (credit) | -12 | -11 | -22 | -21 |
Net periodic defined benefit cost | -47 | 8 | -93 | 17 |
Other defined benefit pension plans | 4 | 4 | 7 | 7 |
Total defined benefit plans | -43 | 12 | -86 | 24 |
Total defined contribution plans | 110 | 115 | 218 | 220 |
Total pension and OPEB cost included in compensation expense | 67 | 127 | 132 | 244 |
Pension Plans, Non-U.S. | ' | ' | ' | ' |
Components of net periodic benefit cost [Abstract] | ' | ' | ' | ' |
Benefits earned during the period | 8 | 8 | 17 | 17 |
Interest cost on benefit obligations | 36 | 30 | 70 | 60 |
Expected return on plan assets | -45 | -34 | -89 | -68 |
Amortization: | ' | ' | ' | ' |
Net (gain)/loss | 12 | 12 | 24 | 24 |
Prior service cost (credit) | 0 | 0 | 0 | -1 |
Net periodic defined benefit cost | 11 | 16 | 22 | 32 |
Other defined benefit pension plans | 1 | 4 | 3 | 6 |
Total defined benefit plans | 12 | 20 | 25 | 38 |
Total defined contribution plans | 87 | 80 | 167 | 159 |
Total pension and OPEB cost included in compensation expense | 99 | 100 | 192 | 197 |
OPEB plans | ' | ' | ' | ' |
Components of net periodic benefit cost [Abstract] | ' | ' | ' | ' |
Benefits earned during the period | 0 | 0 | 0 | 0 |
Interest cost on benefit obligations | 9 | 9 | 18 | 18 |
Expected return on plan assets | -25 | -24 | -50 | -46 |
Amortization: | ' | ' | ' | ' |
Net (gain)/loss | 0 | 0 | 0 | 1 |
Prior service cost (credit) | 0 | 0 | 0 | 0 |
Net periodic defined benefit cost | -16 | -15 | -32 | -27 |
Total defined benefit plans | -16 | -15 | -32 | -27 |
Total pension and OPEB cost included in compensation expense | ($16) | ($15) | ($32) | ($27) |
Pension_and_Other_Postretireme3
Pension and Other Postretirement Employee Benefit Plans (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 |
U.S. Defined Benefit Pension And OPEB Plans | U.S. Defined Benefit Pension And OPEB Plans | United States Other Pension Plan of US Entity, Defined Benefit | Pension Plans, Non-U.S. | Pension Plans, Non-U.S. | Foreign Other Postretirement Benefit Plan, Defined Benefit | OPEB plans | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Fair value of plan assets | $16,700,000,000 | $16,100,000,000 | ' | $3,800,000,000 | $3,500,000,000 | ' | ' |
Defined benefit pension plan, non-U.S., expected contribution | ' | ' | 37,000,000 | ' | ' | ' | ' |
Estimated future employer contributions in next fiscal year | ' | ' | ' | ' | ' | $49,000,000 | $2,000,000 |
Employee_Stock_Based_Incentive2
Employee Stock Based Incentives - Compensation Expense (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' | ' |
Cost of prior grants of restricted stock units (“RSUsâ€) and stock appreciation rights (“SARsâ€) that are amortized over their applicable vesting periods | $335 | $372 | $745 | $756 |
Accrual of estimated costs of stock awards to be granted in future periods including those to full-career eligible employees | 189 | 214 | 397 | 471 |
Total noncash compensation expense related to employee stock-based incentive plans | $524 | $586 | $1,142 | $1,227 |
Employee_StockBased_Incentives
Employee Stock-Based Incentives - RSUs, Employee Stock Options and SARs Activity (Details) (Restricted Stock Units (RSUs) [Member], USD $) | 3 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2014 |
Restricted Stock Units (RSUs) [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Annual incentive grant, number of awards | 36 |
Annual incentive grant, weighted-average grant date fair value | $57.87 |
Employee_StockBased_Incentives1
Employee Stock-Based Incentives – Employee Stock-Based Awards (Details) (Subsequent Event, Chief Executive Officer [Member], Stock Appreciation Rights (SARs) [Member], USD $) | 0 Months Ended | |
Jul. 15, 2014 | Jul. 15, 2014 | |
Subsequent Event | Chief Executive Officer [Member] | Stock Appreciation Rights (SARs) [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Shares authorized for issuance | ' | 2,000,000 |
Exercise price (usd per share) | $39.83 | ' |
Noninterest_Expense_Details
Noninterest Expense (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Non interest Expense | ' | ' | ' | ' |
Compensation expense | $7,610 | $8,019 | $15,469 | $16,433 |
Noncompensation expense: | ' | ' | ' | ' |
Occupancy expense | 973 | 904 | 1,925 | 1,805 |
Technology, communications and equipment expense | 1,433 | 1,361 | 2,844 | 2,693 |
Professional and outside services | 1,932 | 1,901 | 3,718 | 3,635 |
Marketing | 650 | 578 | 1,214 | 1,167 |
Other expense | 2,701 | 2,951 | 4,634 | 5,252 |
Amortization of intangibles | 132 | 152 | 263 | 304 |
Total noncompensation expense | 7,821 | 7,847 | 14,598 | 14,856 |
Total noninterest expense | 15,431 | 15,866 | 30,067 | 31,289 |
Other expenses, additional details | ' | ' | ' | ' |
FDIC premium expense | 266 | 392 | 559 | 771 |
Threatened or Pending Litigation | ' | ' | ' | ' |
Other expenses, additional details | ' | ' | ' | ' |
Loss contingency, loss in period | $669 | $678 | $707 | $1,000 |
Securities_Transfer_from_AFS_t
Securities - Transfer from AFS to HTM (Details) (USD $) | Mar. 31, 2014 |
Investments, Debt and Equity Securities [Abstract] | ' |
Fair value of securities transferred from available-for-sale to held-to-maturity | $19,300,000,000 |
Net pretax unrealized gains (losses) in AOCI on securities on date of transfer from available-for-sale to held-to-maturity | ($9,000,000) |
Securities_Realized_Gain_Loss_
Securities - Realized Gain (Loss) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |||||
Securities gains and losses | ' | ' | ' | ' | ||||
Realized gains | $76,000,000 | $143,000,000 | $224,000,000 | $664,000,000 | ||||
Realized losses | -64,000,000 | -13,000,000 | -180,000,000 | -25,000,000 | ||||
Net realized gains | 12,000,000 | 130,000,000 | 44,000,000 | 639,000,000 | ||||
Net securities gains | 12,000,000 | [1] | 124,000,000 | [1] | 42,000,000 | [1] | 633,000,000 | [1] |
Proceeds from securities sold, as percentage of amortized cost | 1.00% | 1.00% | 1.00% | 3.00% | ||||
Other than temporary impairment losses investments portion previously recognized in earnings intends to sell net | ' | ' | 1,000,000 | ' | ||||
Intent to sell | ' | ' | ' | ' | ||||
Securities gains and losses | ' | ' | ' | ' | ||||
Total OTTI losses recognized in income | $0 | ($6,000,000) | ($2,000,000) | ($6,000,000) | ||||
[1] | The Firm recognized other-than-temporary impairment (“OTTIâ€) losses related to securities the Firm intends to sell of $2 million for the six months ended June 30, 2014; the Firm did not recognize OTTI losses for the three months ended June 30, 2014. The Firm recognized OTTI losses of $6 million for the three and six months ended June 30, 2013. |
Securities_Amortized_Costs_Fai
Securities - Amortized Costs, Fair Value (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Available-for-sale debt securities | ' | ' |
Amortized cost | $306,080 | $325,378 |
Gross unrealized gains | 8,419 | 7,215 |
Gross unrealized losses | 430 | 2,616 |
Total | 314,069 | 329,977 |
Held-to-maturity securities | ' | ' |
Amortized cost | 47,849 | 24,026 |
Gross unrealized gains | 1,314 | 22 |
Gross unrealized losses | 0 | 317 |
Fair value | 49,163 | 23,731 |
Total mortgage-backed securities | ' | ' |
Available-for-sale debt securities | ' | ' |
Amortized cost | 136,937 | 153,419 |
Gross unrealized gains | 4,427 | 4,322 |
Gross unrealized losses | 200 | 1,032 |
Total | 141,164 | 156,709 |
U.S. government agencies | ' | ' |
Available-for-sale debt securities | ' | ' |
Amortized cost | 62,353 | 76,428 |
Gross unrealized gains | 2,328 | 2,364 |
Gross unrealized losses | 169 | 977 |
Total | 64,512 | 77,815 |
Held-to-maturity securities | ' | ' |
Amortized cost | 4,100 | ' |
Prime and Alt-A | Residential and commercial mortgage securitizations | ' | ' |
Available-for-sale debt securities | ' | ' |
Amortized cost | 3,487 | 2,744 |
Gross unrealized gains | 75 | 61 |
Gross unrealized losses | 27 | 27 |
Total | 3,535 | 2,778 |
Subprime | Residential and commercial mortgage securitizations | ' | ' |
Available-for-sale debt securities | ' | ' |
Amortized cost | 815 | 908 |
Gross unrealized gains | 20 | 23 |
Gross unrealized losses | 0 | 1 |
Total | 835 | 930 |
Non-U.S. | Residential and commercial mortgage securitizations | ' | ' |
Available-for-sale debt securities | ' | ' |
Amortized cost | 52,466 | 57,448 |
Gross unrealized gains | 1,403 | 1,314 |
Gross unrealized losses | 0 | 1 |
Total | 53,869 | 58,761 |
Commercial | ' | ' |
Available-for-sale debt securities | ' | ' |
Amortized cost | 17,816 | 15,891 |
Gross unrealized gains | 601 | 560 |
Gross unrealized losses | 4 | 26 |
Total | 18,413 | 16,425 |
U.S. Treasury and government agencies | ' | ' |
Available-for-sale debt securities | ' | ' |
Amortized cost | 19,279 | 21,310 |
Gross unrealized gains | 82 | 385 |
Gross unrealized losses | 2 | 306 |
Total | 19,359 | 21,389 |
Obligations of U.S. states and municipalities | ' | ' |
Available-for-sale debt securities | ' | ' |
Amortized cost | 26,480 | 29,741 |
Gross unrealized gains | 1,694 | 707 |
Gross unrealized losses | 88 | 987 |
Total | 28,086 | 29,461 |
Held-to-maturity securities | ' | ' |
Amortized cost | 8,300 | 920 |
Certificates of deposit | ' | ' |
Available-for-sale debt securities | ' | ' |
Amortized cost | 1,411 | 1,041 |
Gross unrealized gains | 1 | 1 |
Gross unrealized losses | 2 | 1 |
Total | 1,410 | 1,041 |
Non-U.S. government debt securities | ' | ' |
Available-for-sale debt securities | ' | ' |
Amortized cost | 56,727 | 55,507 |
Gross unrealized gains | 1,170 | 863 |
Gross unrealized losses | 52 | 122 |
Total | 57,845 | 56,248 |
Corporate debt securities | ' | ' |
Available-for-sale debt securities | ' | ' |
Amortized cost | 20,779 | 21,043 |
Gross unrealized gains | 590 | 498 |
Gross unrealized losses | 13 | 29 |
Total | 21,356 | 21,512 |
Asset-backed securities - Collateralized loan obligations | ' | ' |
Available-for-sale debt securities | ' | ' |
Amortized cost | 28,299 | 28,130 |
Gross unrealized gains | 224 | 236 |
Gross unrealized losses | 73 | 136 |
Total | 28,450 | 28,230 |
Other Debt Obligations | ' | ' |
Available-for-sale debt securities | ' | ' |
Amortized cost | 12,890 | 12,062 |
Gross unrealized gains | 218 | 186 |
Gross unrealized losses | 0 | 3 |
Total | 13,108 | 12,245 |
Debt Securities | ' | ' |
Available-for-sale debt securities | ' | ' |
Amortized cost | 302,802 | 322,253 |
Gross unrealized gains | 8,406 | 7,198 |
Gross unrealized losses | 430 | 2,616 |
Total | 310,778 | 326,835 |
Equity securities | ' | ' |
Available-for-sale debt securities | ' | ' |
Amortized cost | 3,278 | 3,125 |
Gross unrealized gains | 13 | 17 |
Gross unrealized losses | 0 | 0 |
Total | 3,291 | 3,142 |
US government-sponsored enterprises debt securities | ' | ' |
Available-for-sale debt securities | ' | ' |
Total | 58,200 | 67,000 |
Held-to-maturity securities | ' | ' |
Amortized cost | $35,400 | $23,100 |
Securities_Securities_Impairme
Securities - Securities Impairment (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Held-to-maturity Securities, Fair Value: | ' | ' |
Less than 12 months | $0 | $20,745 |
12 months or more | 0 | 0 |
Total fair value | 0 | 20,745 |
Held-to-maturity Securities, Aggregate Loss: | ' | ' |
Less than 12 months | 0 | 317 |
12 months or more | 0 | 0 |
Total gross unrealized losses | 0 | 317 |
Investment Securities, Fair Value: | ' | ' |
Less than 12 months | 26,910 | 101,248 |
12 months or more | 17,228 | 3,319 |
Total fair value | 44,138 | 104,567 |
Investment Securities, Aggregate Loss: | ' | ' |
Less than 12 months | 150 | 2,755 |
12 months or more | 280 | 178 |
Total gross unrealized losses | 430 | 2,933 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises | ' | ' |
Available-for-sale Securities, Fair Value: | ' | ' |
Less than 12 months | 1,354 | 20,293 |
12 months or more | 7,131 | 1,150 |
Total fair value | 8,485 | 21,443 |
Available-for-sale Securities, Aggregate Loss: | ' | ' |
Less than 12 months | 17 | 895 |
12 months or more | 152 | 82 |
Total gross unrealized losses | 169 | 977 |
Commercial | ' | ' |
Available-for-sale Securities, Fair Value: | ' | ' |
Less than 12 months | 0 | 3,980 |
12 months or more | 165 | 0 |
Total fair value | 165 | 3,980 |
Available-for-sale Securities, Aggregate Loss: | ' | ' |
Less than 12 months | 0 | 26 |
12 months or more | 4 | 0 |
Total gross unrealized losses | 4 | 26 |
Total mortgage-backed securities | ' | ' |
Available-for-sale Securities, Fair Value: | ' | ' |
Less than 12 months | 1,890 | 25,486 |
12 months or more | 7,758 | 1,308 |
Total fair value | 9,648 | 26,794 |
Available-for-sale Securities, Aggregate Loss: | ' | ' |
Less than 12 months | 19 | 949 |
12 months or more | 181 | 83 |
Total gross unrealized losses | 200 | 1,032 |
U.S. Treasury and government agencies | ' | ' |
Available-for-sale Securities, Fair Value: | ' | ' |
Less than 12 months | 0 | 6,293 |
12 months or more | 1,994 | 237 |
Total fair value | 1,994 | 6,530 |
Available-for-sale Securities, Aggregate Loss: | ' | ' |
Less than 12 months | 0 | 250 |
12 months or more | 2 | 56 |
Total gross unrealized losses | 2 | 306 |
Obligations of U.S. states and municipalities | ' | ' |
Available-for-sale Securities, Fair Value: | ' | ' |
Less than 12 months | 3,574 | 15,387 |
12 months or more | 556 | 55 |
Total fair value | 4,130 | 15,442 |
Available-for-sale Securities, Aggregate Loss: | ' | ' |
Less than 12 months | 75 | 975 |
12 months or more | 13 | 12 |
Total gross unrealized losses | 88 | 987 |
Certificates of deposit | ' | ' |
Available-for-sale Securities, Fair Value: | ' | ' |
Less than 12 months | 1,276 | 988 |
12 months or more | 0 | 0 |
Total fair value | 1,276 | 988 |
Available-for-sale Securities, Aggregate Loss: | ' | ' |
Less than 12 months | 2 | 1 |
12 months or more | 0 | 0 |
Total gross unrealized losses | 2 | 1 |
Non-U.S. government debt securities | ' | ' |
Available-for-sale Securities, Fair Value: | ' | ' |
Less than 12 months | 8,925 | 11,286 |
12 months or more | 1,481 | 821 |
Total fair value | 10,406 | 12,107 |
Available-for-sale Securities, Aggregate Loss: | ' | ' |
Less than 12 months | 18 | 110 |
12 months or more | 34 | 12 |
Total gross unrealized losses | 52 | 122 |
Corporate debt securities | ' | ' |
Available-for-sale Securities, Fair Value: | ' | ' |
Less than 12 months | 2,193 | 1,580 |
12 months or more | 337 | 505 |
Total fair value | 2,530 | 2,085 |
Available-for-sale Securities, Aggregate Loss: | ' | ' |
Less than 12 months | 8 | 21 |
12 months or more | 5 | 8 |
Total gross unrealized losses | 13 | 29 |
Asset-backed securities - Collateralized loan obligations | ' | ' |
Available-for-sale Securities, Fair Value: | ' | ' |
Less than 12 months | 9,052 | 18,369 |
12 months or more | 5,102 | 393 |
Total fair value | 14,154 | 18,762 |
Available-for-sale Securities, Aggregate Loss: | ' | ' |
Less than 12 months | 28 | 129 |
12 months or more | 45 | 7 |
Total gross unrealized losses | 73 | 136 |
Other Debt Obligations | ' | ' |
Available-for-sale Securities, Fair Value: | ' | ' |
Less than 12 months | 0 | 1,114 |
12 months or more | 0 | 0 |
Total fair value | 0 | 1,114 |
Available-for-sale Securities, Aggregate Loss: | ' | ' |
Less than 12 months | 0 | 3 |
12 months or more | 0 | 0 |
Total gross unrealized losses | 0 | 3 |
Debt Securities | ' | ' |
Available-for-sale Securities, Fair Value: | ' | ' |
Less than 12 months | 26,910 | 80,503 |
12 months or more | 17,228 | 3,319 |
Total fair value | 44,138 | 83,822 |
Available-for-sale Securities, Aggregate Loss: | ' | ' |
Less than 12 months | 150 | 2,438 |
12 months or more | 280 | 178 |
Total gross unrealized losses | 430 | 2,616 |
Equity securities | ' | ' |
Available-for-sale Securities, Fair Value: | ' | ' |
Less than 12 months | 0 | 0 |
12 months or more | 0 | 0 |
Total fair value | 0 | 0 |
Available-for-sale Securities, Aggregate Loss: | ' | ' |
Less than 12 months | 0 | 0 |
12 months or more | 0 | 0 |
Total gross unrealized losses | 0 | 0 |
Residential and commercial mortgage securitizations | Prime and Alt-A | ' | ' |
Available-for-sale Securities, Fair Value: | ' | ' |
Less than 12 months | 536 | 1,061 |
12 months or more | 462 | 0 |
Total fair value | 998 | 1,061 |
Available-for-sale Securities, Aggregate Loss: | ' | ' |
Less than 12 months | 2 | 27 |
12 months or more | 25 | 0 |
Total gross unrealized losses | 27 | 27 |
Residential and commercial mortgage securitizations | Subprime | ' | ' |
Available-for-sale Securities, Fair Value: | ' | ' |
Less than 12 months | 0 | 152 |
12 months or more | 0 | 0 |
Total fair value | 0 | 152 |
Available-for-sale Securities, Aggregate Loss: | ' | ' |
Less than 12 months | 0 | 1 |
12 months or more | 0 | 0 |
Total gross unrealized losses | 0 | 1 |
Residential and commercial mortgage securitizations | Non-U.S. | ' | ' |
Available-for-sale Securities, Fair Value: | ' | ' |
Less than 12 months | 0 | 0 |
12 months or more | 0 | 158 |
Total fair value | 0 | 158 |
Available-for-sale Securities, Aggregate Loss: | ' | ' |
Less than 12 months | 0 | 0 |
12 months or more | 0 | 1 |
Total gross unrealized losses | $0 | $1 |
Securities_Changes_in_Credit_L
Securities - Changes in Credit Loss (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Changes in the credit loss component of credit-impaired debt securities, securities with no intent to sell [Abstract] | ' | ' | ' | ' |
Balance, beginning of period | $1 | $519 | $1 | $522 |
Sales of credit-impaired securities | 0 | 0 | 0 | -3 |
Balance, end of period | $1 | $519 | $1 | $519 |
Securities_Amortized_Cost_Fair
Securities - Amortized Cost, Fair Value, by Contract Maturity (Details) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in one year or less | $30,167 | ' |
Due after one year through five years | 52,242 | ' |
Due after five years through 10 years | 61,719 | ' |
Due after 10 years | 161,952 | ' |
Total | 306,080 | 325,378 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in one year or less | 30,228 | ' |
Due after one year through five years | 53,328 | ' |
Due after five years through 10 years | 63,124 | ' |
Due after 10 years | 167,389 | ' |
Total | 314,069 | 329,977 |
Available For Sale Securities, Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in one year or less | 1.95% | ' |
Due after one year through five years | 2.02% | ' |
Due after five years through 10 years | 1.78% | ' |
Due after 10 years | 3.36% | ' |
Total | 2.67% | ' |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in one year or less | 0 | ' |
Due after one year through five years | 56 | ' |
Due after five years through 10 years | 346 | ' |
Due after 10 years(c) | 47,447 | ' |
Total | 47,849 | 24,026 |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in one year or less | 0 | ' |
Due after one year through five years | 56 | ' |
Due after five years through 10 years | 358 | ' |
Due after 10 years | 48,749 | ' |
Fair value | 49,163 | 23,731 |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in one year or less | 0.00% | ' |
Due after one year through five years | 4.28% | ' |
Due after five years through 10 years | 4.75% | ' |
Due after 10 years | 3.91% | ' |
Total | 3.92% | ' |
Supplemental information | ' | ' |
US Government Agencies And US Government sponsored enterprises residential mortgage backed securities estimated duration | '6 years | ' |
US Government Agencies And US Government-sponsored enterprises, residential collateralized mortgage obligations, estimated duration | '3 years | ' |
Non Agency residential collateralized mortgage obligations estimated duration | '4 years | ' |
Minimum | ' | ' |
Supplemental information | ' | ' |
Due period of mortgage backed securities and collateralized mortgage obligations | '10 years | ' |
Equity securities | ' | ' |
Available-for-sale Securities, Equity Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in one year or less | 0 | ' |
Due after one year through five years | 0 | ' |
Due after five years through 10 years | 0 | ' |
Due after 10 years | 3,278 | ' |
Total | 3,278 | ' |
Available-for-sale Securities, Equity Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in one year or less | 0 | ' |
Due after one year through five years | 0 | ' |
Due after five years through 10 years | 0 | ' |
Due after 10 years | 3,291 | ' |
Total | 3,291 | ' |
Available For Sale Securities, Equity Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in one year or less | 0.00% | ' |
Due after one year through five years | 0.00% | ' |
Due after five years through 10 years | 0.00% | ' |
Due after 10 years | 0.18% | ' |
Total | 0.18% | ' |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Total | 3,278 | 3,125 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ' | ' |
Total | 3,291 | 3,142 |
Debt Securities | ' | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in one year or less | 30,167 | ' |
Due after one year through five years | 52,242 | ' |
Due after five years through 10 years | 61,719 | ' |
Due after 10 years | 158,674 | ' |
Total | 302,802 | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in one year or less | 30,228 | ' |
Due after one year through five years | 53,328 | ' |
Due after five years through 10 years | 63,124 | ' |
Due after 10 years | 164,098 | ' |
Total | 310,778 | ' |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in one year or less | 1.95% | ' |
Due after one year through five years | 2.02% | ' |
Due after five years through 10 years | 1.78% | ' |
Due after 10 years | 3.42% | ' |
Total | 2.70% | ' |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Total | 302,802 | 322,253 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ' | ' |
Total | 310,778 | 326,835 |
Total mortgage-backed securities | ' | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in one year or less | 677 | ' |
Due after one year through five years | 18,314 | ' |
Due after five years through 10 years | 9,278 | ' |
Due after 10 years | 108,668 | ' |
Total | 136,937 | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in one year or less | 683 | ' |
Due after one year through five years | 18,811 | ' |
Due after five years through 10 years | 9,538 | ' |
Due after 10 years | 112,132 | ' |
Total | 141,164 | ' |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in one year or less | 2.50% | ' |
Due after one year through five years | 1.69% | ' |
Due after five years through 10 years | 2.67% | ' |
Due after 10 years | 3.07% | ' |
Total | 2.86% | ' |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Total | 136,937 | 153,419 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ' | ' |
Total | 141,164 | 156,709 |
U.S. Treasury and government agencies | ' | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in one year or less | 12,418 | ' |
Due after one year through five years | 3,998 | ' |
Due after five years through 10 years | 1,887 | ' |
Due after 10 years | 976 | ' |
Total | 19,279 | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in one year or less | 12,430 | ' |
Due after one year through five years | 4,007 | ' |
Due after five years through 10 years | 1,890 | ' |
Due after 10 years | 1,032 | ' |
Total | 19,359 | ' |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in one year or less | 0.27% | ' |
Due after one year through five years | 0.51% | ' |
Due after five years through 10 years | 0.30% | ' |
Due after 10 years | 0.72% | ' |
Total | 0.34% | ' |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Total | 19,279 | 21,310 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ' | ' |
Total | 19,359 | 21,389 |
Obligations of U.S. states and municipalities | ' | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in one year or less | 60 | ' |
Due after one year through five years | 467 | ' |
Due after five years through 10 years | 1,407 | ' |
Due after 10 years | 24,546 | ' |
Total | 26,480 | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in one year or less | 60 | ' |
Due after one year through five years | 491 | ' |
Due after five years through 10 years | 1,467 | ' |
Due after 10 years | 26,068 | ' |
Total | 28,086 | ' |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in one year or less | 2.61% | ' |
Due after one year through five years | 4.40% | ' |
Due after five years through 10 years | 4.28% | ' |
Due after 10 years | 6.82% | ' |
Total | 6.63% | ' |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Total | 26,480 | 29,741 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ' | ' |
Total | 28,086 | 29,461 |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Total | 8,300 | 920 |
Certificates of deposit | ' | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in one year or less | 1,359 | ' |
Due after one year through five years | 52 | ' |
Due after five years through 10 years | 0 | ' |
Due after 10 years | 0 | ' |
Total | 1,411 | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in one year or less | 1,357 | ' |
Due after one year through five years | 53 | ' |
Due after five years through 10 years | 0 | ' |
Due after 10 years | 0 | ' |
Total | 1,410 | ' |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in one year or less | 2.67% | ' |
Due after one year through five years | 3.28% | ' |
Due after five years through 10 years | 0.00% | ' |
Due after 10 years | 0.00% | ' |
Total | 2.69% | ' |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Total | 1,411 | 1,041 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ' | ' |
Total | 1,410 | 1,041 |
Non-U.S. government debt securities | ' | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in one year or less | 11,946 | ' |
Due after one year through five years | 15,186 | ' |
Due after five years through 10 years | 25,380 | ' |
Due after 10 years | 4,215 | ' |
Total | 56,727 | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in one year or less | 11,976 | ' |
Due after one year through five years | 15,419 | ' |
Due after five years through 10 years | 26,066 | ' |
Due after 10 years | 4,384 | ' |
Total | 57,845 | ' |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in one year or less | 3.52% | ' |
Due after one year through five years | 2.51% | ' |
Due after five years through 10 years | 1.25% | ' |
Due after 10 years | 1.20% | ' |
Total | 2.06% | ' |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Total | 56,727 | 55,507 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ' | ' |
Total | 57,845 | 56,248 |
Corporate Debt Securities | ' | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in one year or less | 3,692 | ' |
Due after one year through five years | 10,843 | ' |
Due after five years through 10 years | 6,244 | ' |
Due after 10 years | 0 | ' |
Total | 20,779 | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in one year or less | 3,707 | ' |
Due after one year through five years | 11,139 | ' |
Due after five years through 10 years | 6,510 | ' |
Due after 10 years | 0 | ' |
Total | 21,356 | ' |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in one year or less | 2.15% | ' |
Due after one year through five years | 2.35% | ' |
Due after five years through 10 years | 2.47% | ' |
Due after 10 years | 0.00% | ' |
Total | 2.35% | ' |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Total | 20,779 | 21,043 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ' | ' |
Total | 21,356 | 21,512 |
Asset-backed securities | ' | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ' | ' |
Due in one year or less | 15 | ' |
Due after one year through five years | 3,382 | ' |
Due after five years through 10 years | 17,523 | ' |
Due after 10 years | 20,269 | ' |
Total | 41,189 | ' |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ' | ' |
Due in one year or less | 15 | ' |
Due after one year through five years | 3,408 | ' |
Due after five years through 10 years | 17,653 | ' |
Due after 10 years | 20,482 | ' |
Total | $41,558 | ' |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ' | ' |
Due in one year or less | 2.15% | ' |
Due after one year through five years | 2.10% | ' |
Due after five years through 10 years | 1.79% | ' |
Due after 10 years | 1.80% | ' |
Total | 1.82% | ' |
Securities_Financing_Activitie2
Securities Financing Activities - Schedule of Securities Purchased Under Resale Agreements, Netting & Securities Borrowed (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Securities purchased under resale agreements: | ' | ' |
Securities purchased under resale agreements with an appropriate legal opinion, gross asset balance | $365,647,000,000 | $354,814,000,000 |
Amounts netted on the Consolidated Balance Sheets | -124,143,000,000 | -115,408,000,000 |
Securities purchased under resale agreements with an appropriate legal option, net asset balance | 241,504,000,000 | 239,406,000,000 |
Securities purchased under resale agreements where an appropriate legal opinion has not been either sought or obtained | 6,318,000,000 | 8,279,000,000 |
Total securities purchased under resale agreements, gross asset balance | 371,965,000,000 | 363,093,000,000 |
Total securities purchased under resale agreements, net asset balance | 247,822,000,000 | 247,685,000,000 |
Securities borrowed | 113,967,000,000 | 111,465,000,000 |
Securities borrowed where an appropriate legal opinion has not been either sought or obtained with respect to master netting agreement | 27,200,000,000 | 26,900,000,000 |
Securities Financing Transaction, Fair Value | ' | ' |
Securities purchased under resale agreements: | ' | ' |
Total securities purchased under resale agreements, net asset balance | 27,800,000,000 | 25,100,000,000 |
Securities borrowed | $2,100,000,000 | $3,700,000,000 |
Securities_Financing_Activitie3
Securities Financing Activities - Schedule of Securities Purchased Under Resale Agreements & Securities Borrowed Collateral Netting (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Securities purchased under resale agreements with an appropriate legal opinion | ' | ' |
Net asset balance | $241,504 | $239,406 |
Amounts not nettable on the Consolidated Balance Sheets, Financial instruments | -238,035 | -234,495 |
Amounts not nettable on the Consolidated Balance Sheets, Cash collateral | -192 | -98 |
Net exposure | 3,277 | 4,813 |
Securities borrowed | ' | ' |
Net asset balance | 86,802 | 84,531 |
Amounts not nettable on the Consolidated Balance Sheets, Financial instruments | -84,106 | -81,127 |
Amounts not nettable on the Consolidated Balance Sheets, Cash collateral | 0 | 0 |
Net exposure | $2,696 | $3,404 |
Securities_Financing_Activitie4
Securities Financing Activities - Schedule of Securities Sold Under Repurchase Agreements, Netting & Securities Loaned (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Securities Financing Transaction [Line Items] | ' | ' |
Securities sold under repurchase agreements with an appropriate legal opinion, gross liability balance | $300,208,000,000 | $257,630,000,000 |
Amounts netted on the Consolidated Balance Sheets | -124,143,000,000 | -115,408,000,000 |
Securities sold under repurchase agreements with an appropriate legal opinion, Net liability balance | 176,065,000,000 | 142,222,000,000 |
Securities sold under repurchase agreements where an appropriate legal opinion has not been either sought or obtained(a) | 18,910,000,000 | 18,143,000,000 |
Total securities sold under repurchase agreements, Gross liability balance | 319,118,000,000 | 275,773,000,000 |
Total securities sold under repurchase agreements, Net liability balance | 194,975,000,000 | 160,365,000,000 |
Securities loans | 26,206,000,000 | 25,769,000,000 |
Securities loaned where an appropriate legal opinion has not been sought or obtained with respect to master netting agreement | 472,000,000 | 397,000,000 |
Securities-For-Securities Borrow Versus Pledge Transactions | ' | ' |
Securities Financing Transaction [Line Items] | ' | ' |
Securities loans | 5,700,000,000 | 5,800,000,000 |
Securities Financing Transaction, Fair Value | ' | ' |
Securities Financing Transaction [Line Items] | ' | ' |
Total securities sold under repurchase agreements, Net liability balance | 2,600,000,000 | 4,900,000,000 |
Securities loans | $0 | $483,000,000 |
Securities_Financing_Activitie5
Securities Financing Activities - Schedule of Securities Sold Under Repurchase Agreements & Securities Loaned Collateral Netting (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Securities sold under repurchase agreements with an appropriate legal opinion | ' | ' |
Net liability balance | $176,065,000,000 | $142,222,000,000 |
Amounts not nettable on the Consolidated balance sheets, Financial instruments | -173,730,000,000 | -139,051,000,000 |
Amounts not nettable on the Consolidated balance sheets, Cash collateral | -345,000,000 | -450,000,000 |
Net amount | 1,990,000,000 | 2,721,000,000 |
Securities loaned | ' | ' |
Net liability balance | 25,734,000,000 | 25,372,000,000 |
Amounts not nettable on the Consolidated balance sheets, Financial instruments | -25,390,000,000 | -25,125,000,000 |
Amounts not nettable on the Consolidated balance sheets, Cash collateral | 0 | 0 |
Net amount | 344,000,000 | 247,000,000 |
Transfers accounted for as secured borrowings, assets, carrying amount | $14,100,000,000 | $14,600,000,000 |
Loans_by_Portfolio_Segment_Det
Loans - by Portfolio Segment (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
Loans by Portfolio Segment and Class [Line Items] | ' | ' | ' |
Loans retained | $735,369,000,000 | $724,177,000,000 | $719,884,000,000 |
Loans held-for-sale | 7,311,000,000 | 12,230,000,000 | ' |
Loans at fair value | 4,303,000,000 | 2,011,000,000 | ' |
Total loans | 746,983,000,000 | 738,418,000,000 | ' |
Loans unearned income, unamortized discounts and premiums, and net deferred loan costs | 1,900,000,000 | 1,900,000,000 | ' |
Consumer, excluding credit card | ' | ' | ' |
Loans by Portfolio Segment and Class [Line Items] | ' | ' | ' |
Loans retained | 288,214,000,000 | 288,449,000,000 | 287,388,000,000 |
Loans held-for-sale | 964,000,000 | 614,000,000 | ' |
Loans at fair value | 0 | 0 | ' |
Total loans | 289,178,000,000 | 289,063,000,000 | ' |
Credit card | ' | ' | ' |
Loans by Portfolio Segment and Class [Line Items] | ' | ' | ' |
Loans retained | 125,621,000,000 | 127,465,000,000 | 124,288,000,000 |
Loans held-for-sale | 508,000,000 | 326,000,000 | ' |
Loans at fair value | 0 | 0 | ' |
Total loans | 126,129,000,000 | 127,791,000,000 | ' |
Wholesale | ' | ' | ' |
Loans by Portfolio Segment and Class [Line Items] | ' | ' | ' |
Loans retained | 321,534,000,000 | 308,263,000,000 | 308,208,000,000 |
Loans held-for-sale | 5,839,000,000 | 11,290,000,000 | ' |
Loans at fair value | 4,303,000,000 | 2,011,000,000 | ' |
Total loans | $331,676,000,000 | $321,564,000,000 | ' |
Loans_Purchased_Sold_and_Recla
Loans - Purchased, Sold and Reclassified to Held-for-Sale (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Retained Loans Purchases Sales And Transfer Into Held For Sale By Portfolio Segment [Line Items] | ' | ' | ' | ' |
Purchases | $2,323,000,000 | $2,109,000,000 | $4,026,000,000 | $4,829,000,000 |
Sales | 3,675,000,000 | 2,658,000,000 | 6,922,000,000 | 5,240,000,000 |
Retained loans reclassified to held-for-sale | 1,229,000,000 | 1,385,000,000 | 1,526,000,000 | 1,729,000,000 |
Consumer, excluding credit card | ' | ' | ' | ' |
Retained Loans Purchases Sales And Transfer Into Held For Sale By Portfolio Segment [Line Items] | ' | ' | ' | ' |
Purchases | 2,167,000,000 | 1,590,000,000 | 3,749,000,000 | 4,215,000,000 |
Sales | 1,352,000,000 | 1,233,000,000 | 2,243,000,000 | 2,662,000,000 |
Retained loans reclassified to held-for-sale | 802,000,000 | 708,000,000 | 802,000,000 | 708,000,000 |
Excluded retained loans purchased from correspondents that were originated in accordance with the Firm's underwriting standards | 2,400,000,000 | 1,300,000,000 | 4,100,000,000 | 2,200,000,000 |
Credit card | ' | ' | ' | ' |
Retained Loans Purchases Sales And Transfer Into Held For Sale By Portfolio Segment [Line Items] | ' | ' | ' | ' |
Purchases | 0 | 328,000,000 | 0 | 328,000,000 |
Sales | 0 | 0 | 0 | 0 |
Retained loans reclassified to held-for-sale | 215,000,000 | 0 | 215,000,000 | 0 |
Wholesale | ' | ' | ' | ' |
Retained Loans Purchases Sales And Transfer Into Held For Sale By Portfolio Segment [Line Items] | ' | ' | ' | ' |
Purchases | 156,000,000 | 191,000,000 | 277,000,000 | 286,000,000 |
Sales | 2,323,000,000 | 1,425,000,000 | 4,679,000,000 | 2,578,000,000 |
Retained loans reclassified to held-for-sale | $212,000,000 | $677,000,000 | $509,000,000 | $1,021,000,000 |
Loans_Net_Gains_and_Losses_on_
Loans - Net Gains and Losses on Sale (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
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) | $87 | $98 | $153 | $249 |
Consumer, excluding credit card | ' | ' | ' | ' |
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) | 84 | 112 | 126 | 256 |
Credit card | ' | ' | ' | ' |
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) | 0 | 0 | 0 | 0 |
Wholesale | ' | ' | ' | ' |
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 | ($14) | $27 | ($7) |
Loans_Consumer_Excluding_Credi
Loans - Consumer, Excluding Credit Card Loans (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Millions, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | $735,369 | $724,177 | $719,884 |
Consumer, excluding credit card | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 288,214 | 288,449 | 287,388 |
Consumer, excluding credit card | Home Equity - Senior Lien | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 16,222 | 17,113 | ' |
Consumer, excluding credit card | Home Equity - Junior Lien | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 38,263 | 40,750 | ' |
Consumer, excluding credit card | Prime Mortgages, Including Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 93,239 | 87,162 | ' |
Consumer, excluding credit card | Subprime Mortgages | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 6,552 | 7,104 | ' |
Consumer, excluding credit card | Auto Loans | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 53,042 | 52,757 | ' |
Consumer, excluding credit card | Business Banking Loans | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 19,453 | 18,951 | ' |
Consumer, excluding credit card | Student and Other Loans | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 11,325 | 11,557 | ' |
Consumer, excluding credit card | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 18,070 | 18,927 | ' |
Consumer, excluding credit card | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 11,302 | 12,038 | ' |
Consumer, excluding credit card | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 3,947 | 4,175 | ' |
Consumer, excluding credit card | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | $16,799 | $17,915 | ' |
Loans_Consumer_Excluding_Credi1
Loans - Consumer, Excluding Credit Card Loans, Residential Real Estate, Excluding PCI Loans (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | |||
Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Subprime Mortgages | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | Residential Real Estate, Excluding Purchased Credit-Impaired | |||||||
California | California | New York | New York | Illinois | Illinois | Florida | Florida | Texas | Texas | New Jersey | New Jersey | Arizona | Arizona | Washington | Washington | Michigan | Michigan | Ohio | Ohio | All other | All other | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Greater than 125% and refreshed FICO scores: | Greater than 125% and refreshed FICO scores: | Greater than 125% and refreshed FICO scores: | Greater than 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Current | Current | 30–149 days past due | 30–149 days past due | 150 or more days past due | 150 or more days past due | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and government guaranteed | 90 or more days past due and government guaranteed | Nonaccrual loans | Nonaccrual loans | California | California | New York | New York | Illinois | Illinois | Florida | Florida | Texas | Texas | New Jersey | New Jersey | Arizona | Arizona | Washington | Washington | Michigan | Michigan | Ohio | Ohio | All other | All other | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Greater than 125% and refreshed FICO scores: | Greater than 125% and refreshed FICO scores: | Greater than 125% and refreshed FICO scores: | Greater than 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Current | Current | 30–149 days past due | 30–149 days past due | 30–149 days past due | 30–149 days past due | 150 or more days past due | 150 or more days past due | 150 or more days past due | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and government guaranteed | 90 or more days past due and government guaranteed | Nonaccrual loans | Nonaccrual loans | California | California | New York | New York | Illinois | Illinois | Florida | Florida | Texas | Texas | New Jersey | New Jersey | Arizona | Arizona | Washington | Washington | Michigan | Michigan | Ohio | Ohio | All other | All other | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Greater than 125% and refreshed FICO scores: | Greater than 125% and refreshed FICO scores: | Greater than 125% and refreshed FICO scores: | Greater than 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Current | Current | 30–149 days past due | 30–149 days past due | 150 or more days past due | 150 or more days past due | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and government guaranteed | 90 or more days past due and government guaranteed | Nonaccrual loans | Nonaccrual loans | 30 or More Past Due | 30 or More Past Due | California | California | New York | New York | Illinois | Illinois | Florida | Florida | Texas | Texas | New Jersey | New Jersey | Arizona | Arizona | Washington | Washington | Michigan | Michigan | Ohio | Ohio | All other | All other | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Greater than 125% and refreshed FICO scores: | Greater than 125% and refreshed FICO scores: | Greater than 125% and refreshed FICO scores: | Greater than 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Current | Current | 30–149 days past due | 30–149 days past due | 150 or more days past due | 150 or more days past due | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and government guaranteed | 90 or more days past due and government guaranteed | Nonaccrual loans | Nonaccrual loans | California | California | New York | New York | Illinois | Illinois | Florida | Florida | Texas | Texas | New Jersey | New Jersey | Arizona | Arizona | Washington | Washington | Michigan | Michigan | Ohio | Ohio | All other | All other | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Greater than 125% and refreshed FICO scores: | Greater than 125% and refreshed FICO scores: | Greater than 125% and refreshed FICO scores: | Greater than 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 101% to 125% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | 80% to 100% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Less than 80% and refreshed FICO scores: | Current | Current | Current | Current | 30–149 days past due | 30–149 days past due | 30–149 days past due | 30–149 days past due | 150 or more days past due | 150 or more days past due | 150 or more days past due | 150 or more days past due | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and government guaranteed | 90 or more days past due and government guaranteed | Nonaccrual loans | Nonaccrual loans | Nonaccrual loans | Nonaccrual loans | |||||||||||||||||
Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | 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] | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | 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] | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Mortgage Loans Insured or Guaranteed by US Government Agencies [Member] | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | Equal to or greater than 660 | Equal to or greater than 660 | Less than 660 | Less than 660 | 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] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period past due, credit analysis factors, charge off criteria | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '180 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | '149 days | ' | ' | '150 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' |
Loans retained | $735,369 | $724,177 | $719,884 | $288,214 | $288,449 | $287,388 | $16,222 | $17,113 | $2,286 | $2,397 | $2,636 | $2,732 | $1,199 | $1,248 | $806 | $847 | $1,875 | $2,044 | $609 | $630 | $957 | $1,019 | $531 | $555 | $757 | $799 | $1,219 | $1,298 | $3,347 | $3,544 | $0 | $0 | $22 | $40 | $12 | $22 | $150 | $212 | $74 | $107 | $654 | $858 | $258 | $326 | $12,794 | $13,186 | $2,258 | $2,362 | $15,630 | $16,470 | $251 | $298 | $341 | $345 | $0 | $0 | $0 | $0 | $909 | $932 | $38,263 | $40,750 | $8,680 | $9,240 | $7,987 | $8,429 | $2,655 | $2,815 | $2,029 | $2,167 | $1,106 | $1,199 | $2,323 | $2,442 | $1,704 | $1,827 | $1,300 | $1,378 | $907 | $976 | $832 | $907 | $8,740 | $9,370 | $0 | $0 | $628 | $1,101 | $192 | $346 | $3,510 | $4,645 | $1,012 | $1,407 | $7,165 | $7,995 | $1,924 | $2,128 | $20,357 | $19,732 | $3,475 | $3,396 | $37,503 | $39,864 | $526 | $662 | ' | ' | $234 | $224 | ' | $0 | $0 | $0 | $0 | $1,671 | $1,876 | $93,239 | $87,162 | $24,057 | $21,876 | $14,976 | $14,085 | $5,699 | $5,216 | $4,778 | $4,598 | $4,041 | $3,565 | $2,878 | $2,679 | $1,525 | $1,385 | $2,084 | $1,951 | $1,061 | $998 | $509 | $466 | $31,631 | $30,343 | $13,464 | $13,712 | $954 | $1,084 | $181 | $303 | $932 | $1,433 | $451 | $687 | $3,800 | $4,528 | $1,243 | $1,579 | $66,928 | $58,477 | $5,286 | $5,359 | $82,780 | $76,108 | $3,466 | $3,155 | $6,993 | $7,899 | $0 | $0 | $7,326 | $7,823 | $2,455 | $2,666 | $8,800 | $9,000 | $6,552 | $7,104 | $994 | $1,069 | $867 | $942 | $257 | $280 | $825 | $885 | $202 | $220 | $306 | $339 | $135 | $144 | $138 | $150 | $165 | $178 | $147 | $161 | $2,516 | $2,736 | $0 | $0 | $22 | $52 | $102 | $197 | $176 | $249 | $428 | $597 | $545 | $614 | $976 | $1,141 | $2,011 | $1,961 | $2,292 | $2,293 | $5,618 | $5,956 | $569 | $646 | $365 | $502 | $0 | $0 | $0 | $0 | $1,273 | $1,390 | $154,276 | $152,129 | $36,017 | $34,582 | $26,466 | $26,188 | $9,810 | $9,559 | $8,438 | $8,497 | $7,224 | $7,028 | $6,116 | $6,090 | $4,321 | $4,375 | $4,053 | $4,034 | $2,890 | $2,951 | $2,707 | $2,832 | $46,234 | $45,993 | $13,464 | $13,712 | $1,626 | $2,277 | $487 | $868 | $4,768 | $6,539 | $1,965 | $2,798 | $12,164 | $13,995 | $4,401 | $5,174 | $102,090 | $93,356 | $13,311 | $13,410 | $141,531 | $138,398 | $4,600 | $4,700 | $4,812 | $4,761 | $2,900 | $2,400 | $7,933 | $8,970 | $6,000 | $6,600 | $0 | $0 | ' | $7,326 | $7,823 | $6,308 | $6,864 | $4,300 | $4,700 |
Percentage of loans 30 plus days past due to total retained loans | ' | ' | ' | ' | ' | ' | 3.65% | 3.76% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.99% | 2.17% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.75% | 2.32% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14.26% | 16.16% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.54% | 3.09% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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 $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | |||
Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien, Excluding Lines of Credit | Home Equity - Junior Lien, Excluding Lines of Credit | HELOC, Within the Revolving Period | HELOC, Within the Revolving Period | HELOCs, Beyond the Revolving Period | HELOCs, Beyond the Revolving Period | 30–89 days past due | 30–89 days past due | 30–89 days past due | 30–89 days past due | 30–89 days past due | 30–89 days past due | 30–89 days past due | 30–89 days past due | 90–149 days past due | 90–149 days past due | 90–149 days past due | 90–149 days past due | 90–149 days past due | 90–149 days past due | 90–149 days past due | 90–149 days past due | 150 or more days past due | 150 or more days past due | 150 or more days past due | 150 or more days past due | 150 or more days past due | 150 or more days past due | 150 or more days past due | 150 or more days past due | |||||||
Home Equity - Junior Lien, Lines of Credit | Home Equity - Junior Lien, Lines of Credit | Home Equity - Junior Lien, Lines of Credit | Home Equity - Junior Lien, Lines of Credit | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien, Excluding Lines of Credit | Home Equity - Junior Lien, Excluding Lines of Credit | HELOC, Within the Revolving Period | HELOC, Within the Revolving Period | HELOCs, Beyond the Revolving Period | HELOCs, Beyond the Revolving Period | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien, Excluding Lines of Credit | Home Equity - Junior Lien, Excluding Lines of Credit | HELOC, Within the Revolving Period | HELOC, Within the Revolving Period | HELOCs, Beyond the Revolving Period | HELOCs, Beyond the Revolving Period | Home Equity - Junior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien, Excluding Lines of Credit | Home Equity - Junior Lien, Excluding Lines of Credit | HELOC, Within the Revolving Period | HELOC, Within the Revolving Period | HELOCs, Beyond the Revolving Period | HELOCs, Beyond the Revolving Period | |||||||||||
Home Equity - Junior Lien, Lines of Credit | Home Equity - Junior Lien, Lines of Credit | Home Equity - Junior Lien, Lines of Credit | Home Equity - Junior Lien, Lines of Credit | Home Equity - Junior Lien, Lines of Credit | Home Equity - Junior Lien, Lines of Credit | Home Equity - Junior Lien, Lines of Credit | Home Equity - Junior Lien, Lines of Credit | Home Equity - Junior Lien, Lines of Credit | Home Equity - Junior Lien, Lines of Credit | Home Equity - Junior Lien, Lines of Credit | Home Equity - Junior Lien, Lines of Credit | |||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans retained | $735,369 | $724,177 | $719,884 | $288,214 | $288,449 | $287,388 | $38,263 | $40,750 | $3,520 | $3,922 | $28,300 | $31,848 | $6,443 | $4,980 | $396 | $511 | $65 | $86 | $254 | $341 | $77 | $84 | $130 | $151 | $21 | $26 | $85 | $104 | $24 | $21 | $234 | $224 | $16 | $16 | $144 | $162 | $74 | $46 |
Percentage of loans 30 plus days past due to total retained loans | ' | ' | ' | ' | ' | ' | 1.99% | 2.17% | 2.90% | 3.26% | 1.71% | 1.91% | 2.72% | 3.03% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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) (Consumer, excluding credit card, USD $) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Consumer, excluding credit card | ' | ' | ' | ' | ' |
Impaired loans: | ' | ' | ' | ' | ' |
Loans modified repurchased from US government agencies excluded from TDR | $6,700,000,000 | ' | $6,700,000,000 | ' | $7,600,000,000 |
Home Equity - Senior Lien | ' | ' | ' | ' | ' |
Impaired loans: | ' | ' | ' | ' | ' |
With an allowance | 556,000,000 | ' | 556,000,000 | ' | 567,000,000 |
Without an allowance | 563,000,000 | ' | 563,000,000 | ' | 579,000,000 |
Total impaired loans | 1,119,000,000 | ' | 1,119,000,000 | ' | 1,146,000,000 |
Allowance for loan losses related to impaired loans | 97,000,000 | ' | 97,000,000 | ' | 94,000,000 |
Unpaid principal balance of impaired loans | 1,480,000,000 | ' | 1,480,000,000 | ' | 1,515,000,000 |
Average impaired loans | 1,128,000,000 | 1,158,000,000 | 1,135,000,000 | 1,149,000,000 | ' |
Interest income on impaired loans | 14,000,000 | 14,000,000 | 28,000,000 | 29,000,000 | ' |
Interest income on impaired loans on a cash basis | 10,000,000 | 10,000,000 | 19,000,000 | 20,000,000 | ' |
Home Equity - Senior Lien | Nonaccrual loans | ' | ' | ' | ' | ' |
Impaired loans: | ' | ' | ' | ' | ' |
Total impaired loans | 629,000,000 | ' | 629,000,000 | ' | 641,000,000 |
Home Equity - Junior Lien | ' | ' | ' | ' | ' |
Impaired loans: | ' | ' | ' | ' | ' |
With an allowance | 724,000,000 | ' | 724,000,000 | ' | 727,000,000 |
Without an allowance | 586,000,000 | ' | 586,000,000 | ' | 592,000,000 |
Total impaired loans | 1,310,000,000 | ' | 1,310,000,000 | ' | 1,319,000,000 |
Allowance for loan losses related to impaired loans | 170,000,000 | ' | 170,000,000 | ' | 162,000,000 |
Unpaid principal balance of impaired loans | 2,635,000,000 | ' | 2,635,000,000 | ' | 2,625,000,000 |
Period past due, credit analysis factors, charge off criteria | ' | ' | '180 days | ' | ' |
Average impaired loans | 1,316,000,000 | 1,296,000,000 | 1,318,000,000 | 1,284,000,000 | ' |
Interest income on impaired loans | 20,000,000 | 21,000,000 | 41,000,000 | 41,000,000 | ' |
Interest income on impaired loans on a cash basis | 13,000,000 | 14,000,000 | 27,000,000 | 27,000,000 | ' |
Home Equity - Junior Lien | Nonaccrual loans | ' | ' | ' | ' | ' |
Impaired loans: | ' | ' | ' | ' | ' |
Total impaired loans | 641,000,000 | ' | 641,000,000 | ' | 666,000,000 |
Prime Mortgages, Including Option ARMs | ' | ' | ' | ' | ' |
Impaired loans: | ' | ' | ' | ' | ' |
With an allowance | 5,443,000,000 | ' | 5,443,000,000 | ' | 5,871,000,000 |
Without an allowance | 1,275,000,000 | ' | 1,275,000,000 | ' | 1,133,000,000 |
Total impaired loans | 6,718,000,000 | ' | 6,718,000,000 | ' | 7,004,000,000 |
Allowance for loan losses related to impaired loans | 139,000,000 | ' | 139,000,000 | ' | 144,000,000 |
Unpaid principal balance of impaired loans | 8,582,000,000 | ' | 8,582,000,000 | ' | 8,990,000,000 |
Average impaired loans | 6,823,000,000 | 7,219,000,000 | 6,889,000,000 | 7,203,000,000 | ' |
Interest income on impaired loans | 66,000,000 | 70,000,000 | 134,000,000 | 139,000,000 | ' |
Interest income on impaired loans on a cash basis | 14,000,000 | 15,000,000 | 27,000,000 | 29,000,000 | ' |
Prime Mortgages, Including Option ARMs | Nonaccrual loans | ' | ' | ' | ' | ' |
Impaired loans: | ' | ' | ' | ' | ' |
Total impaired loans | 1,703,000,000 | ' | 1,703,000,000 | ' | 1,737,000,000 |
Subprime Mortgages | ' | ' | ' | ' | ' |
Impaired loans: | ' | ' | ' | ' | ' |
With an allowance | 2,724,000,000 | ' | 2,724,000,000 | ' | 2,989,000,000 |
Without an allowance | 754,000,000 | ' | 754,000,000 | ' | 709,000,000 |
Total impaired loans | 3,478,000,000 | ' | 3,478,000,000 | ' | 3,698,000,000 |
Allowance for loan losses related to impaired loans | 87,000,000 | ' | 87,000,000 | ' | 94,000,000 |
Unpaid principal balance of impaired loans | 5,069,000,000 | ' | 5,069,000,000 | ' | 5,461,000,000 |
Average impaired loans | 3,578,000,000 | 3,833,000,000 | 3,623,000,000 | 3,830,000,000 | ' |
Interest income on impaired loans | 47,000,000 | 50,000,000 | 96,000,000 | 100,000,000 | ' |
Interest income on impaired loans on a cash basis | 13,000,000 | 14,000,000 | 26,000,000 | 29,000,000 | ' |
Subprime Mortgages | Nonaccrual loans | ' | ' | ' | ' | ' |
Impaired loans: | ' | ' | ' | ' | ' |
Total impaired loans | 1,078,000,000 | ' | 1,078,000,000 | ' | 1,127,000,000 |
Residential Real Estate, Excluding Purchased Credit-Impaired | ' | ' | ' | ' | ' |
Impaired loans: | ' | ' | ' | ' | ' |
With an allowance | 9,447,000,000 | ' | 9,447,000,000 | ' | 10,154,000,000 |
Without an allowance | 3,178,000,000 | ' | 3,178,000,000 | ' | 3,013,000,000 |
Total impaired loans | 12,625,000,000 | ' | 12,625,000,000 | ' | 13,167,000,000 |
Allowance for loan losses related to impaired loans | 493,000,000 | ' | 493,000,000 | ' | 494,000,000 |
Unpaid principal balance of impaired loans | 17,766,000,000 | ' | 17,766,000,000 | ' | 18,591,000,000 |
Average impaired loans | 12,845,000,000 | 13,506,000,000 | 12,965,000,000 | 13,466,000,000 | ' |
Interest income on impaired loans | 147,000,000 | 155,000,000 | 299,000,000 | 309,000,000 | ' |
Interest income on impaired loans on a cash basis | 50,000,000 | 53,000,000 | 99,000,000 | 105,000,000 | ' |
Residential Real Estate, Excluding Purchased Credit-Impaired | Nonaccrual loans | ' | ' | ' | ' | ' |
Impaired loans: | ' | ' | ' | ' | ' |
Total impaired loans | 4,051,000,000 | ' | 4,051,000,000 | ' | 4,171,000,000 |
Residential Real Estate, Excluding Purchased Credit-Impaired | Current, and Less Than 90 Days Past Due | ' | ' | ' | ' | ' |
Impaired loans: | ' | ' | ' | ' | ' |
TDRs not having yet made six payments | $3,100,000,000 | ' | $3,100,000,000 | ' | $3,000,000,000 |
Period past due, credit analysis factors, charge off criteria | ' | ' | '90 days | ' | ' |
Minimum | ' | ' | ' | ' | ' |
Impaired loans: | ' | ' | ' | ' | ' |
Number of payments under modified terms to recognize interest on cash basis | ' | ' | 6 | ' | ' |
Loans_Consumer_Excluding_Credi4
Loans - Consumer, Excluding Credit Card Loans, Loan Modifications, TDR Activity Rollforward (Details) (Consumer, excluding credit card, USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Home Equity - Senior Lien | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Beginning balance of TDRs | $1,136 | $1,155 | $1,146 | $1,092 |
New TDRs | 20 | 39 | 47 | 140 |
Charge-offs post-modification | -5 | -8 | -11 | -18 |
Foreclosures and other liquidations (e.g., short sales) | -5 | -5 | -11 | -9 |
Principal payments and other | -27 | -21 | -52 | -45 |
Ending balance of TDRs | 1,119 | 1,160 | 1,119 | 1,160 |
Home Equity - Junior Lien | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Beginning balance of TDRs | 1,319 | 1,286 | 1,319 | 1,223 |
New TDRs | 46 | 94 | 104 | 229 |
Charge-offs post-modification | -11 | -24 | -30 | -57 |
Foreclosures and other liquidations (e.g., short sales) | -4 | -7 | -6 | -11 |
Principal payments and other | -40 | -34 | -77 | -69 |
Ending balance of TDRs | 1,310 | 1,315 | 1,310 | 1,315 |
Prime Mortgages, Including Option ARMs | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Beginning balance of TDRs | 6,894 | 7,223 | 7,004 | 7,118 |
New TDRs | 52 | 318 | 119 | 628 |
Charge-offs post-modification | -4 | -14 | -11 | -33 |
Foreclosures and other liquidations (e.g., short sales) | -16 | -39 | -44 | -74 |
Principal payments and other | -208 | -185 | -350 | -336 |
Ending balance of TDRs | 6,718 | 7,303 | 6,718 | 7,303 |
Subprime Mortgages | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Beginning balance of TDRs | 3,625 | 3,843 | 3,698 | 3,812 |
New TDRs | 25 | 89 | 53 | 217 |
Charge-offs post-modification | -11 | -27 | -33 | -65 |
Foreclosures and other liquidations (e.g., short sales) | -9 | -19 | -21 | -38 |
Principal payments and other | -152 | -61 | -219 | -101 |
Ending balance of TDRs | 3,478 | 3,825 | 3,478 | 3,825 |
Residential Real Estate, Excluding Purchased Credit-Impaired | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Beginning balance of TDRs | 12,974 | 13,507 | 13,167 | 13,245 |
New TDRs | 143 | 540 | 323 | 1,214 |
Charge-offs post-modification | -31 | -73 | -85 | -173 |
Foreclosures and other liquidations (e.g., short sales) | -34 | -70 | -82 | -132 |
Principal payments and other | -427 | -301 | -698 | -551 |
Ending balance of TDRs | 12,625 | 13,603 | 12,625 | 13,603 |
Permanent Modification | Home Equity - Senior Lien | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Ending balance of TDRs | 1,083 | 1,117 | 1,083 | 1,117 |
Permanent Modification | Home Equity - Junior Lien | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Ending balance of TDRs | 1,306 | 1,309 | 1,306 | 1,309 |
Permanent Modification | Prime Mortgages, Including Option ARMs | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Ending balance of TDRs | 6,625 | 7,035 | 6,625 | 7,035 |
Permanent Modification | Subprime Mortgages | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Ending balance of TDRs | 3,404 | 3,676 | 3,404 | 3,676 |
Permanent Modification | Residential Real Estate, Excluding Purchased Credit-Impaired | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Ending balance of TDRs | 12,418 | 13,137 | 12,418 | 13,137 |
Trial Modification | Home Equity - Senior Lien | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Ending balance of TDRs | 36 | 43 | 36 | 43 |
Trial Modification | Home Equity - Junior Lien | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Ending balance of TDRs | 4 | 6 | 4 | 6 |
Trial Modification | Prime Mortgages, Including Option ARMs | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Ending balance of TDRs | 93 | 268 | 93 | 268 |
Trial Modification | Subprime Mortgages | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Ending balance of TDRs | 74 | 149 | 74 | 149 |
Trial Modification | Residential Real Estate, Excluding Purchased Credit-Impaired | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Ending balance of TDRs | $207 | $466 | $207 | $466 |
Loans_Consumer_Excluding_Credi5
Loans - Consumer, Excluding Credit Card Loans, Loan Modifications, Nature and Extend of Modifications (Details) (Consumer, excluding credit card) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Home Equity - Senior Lien | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Concession granted - Interest rate reduction | 64.00% | 70.00% | 65.00% | 72.00% |
Concession granted - Term of payment extension | 86.00% | 73.00% | 83.00% | 73.00% |
Concession granted - Principal and/or interest deferred | 12.00% | 11.00% | 14.00% | 10.00% |
Concession granted - principal forgiveness | 30.00% | 37.00% | 30.00% | 38.00% |
Concession granted - other | 0.00% | 0.00% | 0.00% | 0.00% |
Home Equity - Junior Lien | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Concession granted - Interest rate reduction | 88.00% | 85.00% | 86.00% | 88.00% |
Concession granted - Term of payment extension | 83.00% | 76.00% | 83.00% | 77.00% |
Concession granted - Principal and/or interest deferred | 22.00% | 25.00% | 22.00% | 24.00% |
Concession granted - principal forgiveness | 29.00% | 33.00% | 28.00% | 36.00% |
Concession granted - other | 0.00% | 0.00% | 0.00% | 0.00% |
Prime Mortgages, Including Option ARMs | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Concession granted - Interest rate reduction | 65.00% | 73.00% | 62.00% | 74.00% |
Concession granted - Term of payment extension | 79.00% | 69.00% | 84.00% | 69.00% |
Concession granted - Principal and/or interest deferred | 30.00% | 29.00% | 32.00% | 28.00% |
Concession granted - principal forgiveness | 22.00% | 39.00% | 27.00% | 40.00% |
Concession granted - other | 18.00% | 24.00% | 17.00% | 24.00% |
Subprime Mortgages | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Concession granted - Interest rate reduction | 68.00% | 72.00% | 63.00% | 71.00% |
Concession granted - Term of payment extension | 71.00% | 53.00% | 72.00% | 51.00% |
Concession granted - Principal and/or interest deferred | 15.00% | 12.00% | 18.00% | 11.00% |
Concession granted - principal forgiveness | 35.00% | 46.00% | 38.00% | 52.00% |
Concession granted - other | 9.00% | 13.00% | 12.00% | 15.00% |
Residential Real Estate, Excluding Purchased Credit-Impaired | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Concession granted - Interest rate reduction | 75.00% | 76.00% | 72.00% | 77.00% |
Concession granted - Term of payment extension | 79.00% | 66.00% | 80.00% | 66.00% |
Concession granted - Principal and/or interest deferred | 20.00% | 20.00% | 22.00% | 19.00% |
Concession granted - principal forgiveness | 29.00% | 39.00% | 31.00% | 43.00% |
Concession granted - other | 6.00% | 11.00% | 7.00% | 12.00% |
Percentage, sum of items by type, may exceed | ' | ' | 100.00% | ' |
Trial Modification | Home Equity - Senior Lien | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of contract modifications | 218 | 562 | 419 | 1,062 |
Trial Modification | Home Equity - Junior Lien | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of contract modifications | 157 | 172 | 341 | 368 |
Trial Modification | Prime Mortgages, Including Option ARMs | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of contract modifications | 261 | 856 | 516 | 1,832 |
Trial Modification | Subprime Mortgages | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of contract modifications | 529 | 1,123 | 1,028 | 2,612 |
Trial Modification | Residential Real Estate, Excluding Purchased Credit-Impaired | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of contract modifications | 1,165 | 2,713 | 2,304 | 5,874 |
Permanent Modification | Home Equity - Senior Lien | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of contract modifications | 226 | 405 | 521 | 950 |
Permanent Modification | Home Equity - Junior Lien | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of contract modifications | 699 | 1,353 | 1,657 | 2,669 |
Permanent Modification | Prime Mortgages, Including Option ARMs | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of contract modifications | 386 | 1,137 | 917 | 2,613 |
Permanent Modification | Subprime Mortgages | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of contract modifications | 493 | 1,458 | 1,260 | 3,147 |
Permanent Modification | Residential Real Estate, Excluding Purchased Credit-Impaired | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of contract modifications | 1,804 | 4,353 | 4,355 | 9,379 |
Regulatory Guidance Regarding Chapter 7 Loans | Home Equity - Senior Lien | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of loans | ' | ' | 8,300 | ' |
Regulatory Guidance Regarding Chapter 7 Loans | Home Equity - Junior Lien | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of loans | ' | ' | 21,200 | ' |
Regulatory Guidance Regarding Chapter 7 Loans | Prime Mortgages, Including Option ARMs | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of loans | ' | ' | 2,900 | ' |
Regulatory Guidance Regarding Chapter 7 Loans | Subprime Mortgages | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of loans | ' | ' | 2,800 | ' |
Regulatory Guidance Regarding Chapter 7 Loans | Residential Real Estate, Excluding Purchased Credit-Impaired | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of loans | ' | ' | 35,200 | ' |
Loans_Consumer_Excluding_Credi6
Loans - Consumer, Excluding Credit Card Loans, Financial Effects of Modification (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Residential Real Estate, Excluding Purchased Credit-Impaired | Days Past Due, 60 or Less [Member] | Regulatory Guidance Regarding Chapter 7 Loans | Maximum | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Period past due, credit analysis factors, charge off criteria | ' | ' | '60 days | ' |
Consumer, excluding credit card | Home Equity - Junior Lien | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Rate of default for modified loans, estimated weighted average | ' | ' | 20.00% | ' |
Period past due, credit analysis factors, charge off criteria | ' | ' | '180 days | ' |
Consumer, excluding credit card | Residential Real Estate, Excluding Purchased Credit-Impaired | Maximum | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of months before a payment redefault under modified loan | ' | ' | '12 months | ' |
Consumer, excluding credit card | Residential Real Estate, Excluding Purchased Credit-Impaired | Trial Modifications Approved On Or After July 1, 2010 | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Trail modifications successfully converted to permanent modifications | 85.00% | ' | 85.00% | ' |
Consumer, excluding credit card | Residential Real Estate, Excluding Purchased Credit-Impaired | Regulatory Guidance Regarding Chapter 7 Loans | Maximum | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Rate of default for modified loans, estimated weighted average | ' | ' | 40.00% | ' |
Consumer, excluding credit card | Residential Real Estate, Excluding Purchased Credit-Impaired | Regulatory Guidance Regarding Chapter 7 Loans | Minimum | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Rate of default for modified loans, estimated weighted average | ' | ' | 10.00% | ' |
Consumer, excluding credit card | Residential Real Estate, Excluding Purchased Credit-Impaired | 30 or More Past Due | Regulatory Guidance Regarding Chapter 7 Loans | Minimum | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Period past due, credit analysis factors, charge off criteria | ' | ' | '30 days | ' |
Consumer, excluding credit card | Business Banking Loans | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Weighted-average interest rate of loans with interest rate reductions – before TDR | 7.11% | 7.58% | 7.35% | 7.94% |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 6.04% | 6.16% | 6.28% | 5.84% |
Balance of loans that redefaulted within one year of permanent modification | $7,000,000 | $11,000,000 | $14,000,000 | $23,000,000 |
Consumer, excluding credit card | Business Banking Loans | Maximum | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of years before payment default under a modified loan | ' | ' | '1 year | ' |
Consumer, excluding credit card | Residential mortgage | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of payments past due for deemed payment default | ' | ' | 2 | ' |
Consumer, excluding credit card | Consumer Loans Auto Financing Receivable [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Weighted-average interest rate of loans with interest rate reductions – before TDR | 12.02% | 13.46% | 13.10% | 13.19% |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 4.98% | 4.82% | 4.97% | 4.94% |
Balance of loans that redefaulted within one year of permanent modification | 11,000,000 | 15,000,000 | 22,000,000 | 28,000,000 |
Consumer, excluding credit card | Consumer Loans Auto Financing Receivable [Member] | Maximum | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of years before payment default under a modified loan | ' | ' | '1 year | ' |
Consumer, excluding credit card | Permanent Modification | Home Equity - Senior Lien | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Weighted-average interest rate of loans with interest rate reductions – before TDR | 6.58% | 6.78% | 6.63% | 6.53% |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.93% | 3.34% | 2.98% | 3.44% |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | '17 years | '17 years | '18 years | '18 years |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | '29 years | '31 years | '30 years | '31 years |
Charge-offs recognized upon permanent modification | 0 | 2,000,000 | 1,000,000 | 4,000,000 |
Principal deferred | 1,000,000 | 1,000,000 | 2,000,000 | 3,000,000 |
Principal forgiven | 3,000,000 | 7,000,000 | 6,000,000 | 17,000,000 |
Number of loans that redefaulted within one year of permanent modification(a) | 67 | 95 | 133 | 226 |
Balance of loans that redefaulted within one year of permanent modification | 4,000,000 | 7,000,000 | 10,000,000 | 17,000,000 |
Rate of default for modified loans, estimated weighted average | ' | ' | 18.00% | ' |
Modifications, weighted-average remaining life | ' | ' | '6 years | ' |
Consumer, excluding credit card | Permanent Modification | Home Equity - Senior Lien | Regulatory Guidance Regarding Chapter 7 Loans | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Rate of default for modified loans, estimated weighted average | ' | ' | 18.00% | ' |
Consumer, excluding credit card | Permanent Modification | Home Equity - Junior Lien | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Weighted-average interest rate of loans with interest rate reductions – before TDR | 4.94% | 5.10% | 4.83% | 5.14% |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.04% | 2.28% | 1.91% | 2.22% |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | '19 years | '19 years | '19 years | '19 years |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | '34 years | '34 years | '35 years | '34 years |
Charge-offs recognized upon permanent modification | 8,000,000 | 23,000,000 | 22,000,000 | 42,000,000 |
Principal deferred | 3,000,000 | 7,000,000 | 6,000,000 | 14,000,000 |
Principal forgiven | 6,000,000 | 13,000,000 | 17,000,000 | 29,000,000 |
Number of loans that redefaulted within one year of permanent modification(a) | 195 | 248 | 388 | 594 |
Balance of loans that redefaulted within one year of permanent modification | 3,000,000 | 6,000,000 | 6,000,000 | 13,000,000 |
Modifications, weighted-average remaining life | ' | ' | '7 years | ' |
Consumer, excluding credit card | Permanent Modification | Home Equity - Junior Lien | Regulatory Guidance Regarding Chapter 7 Loans | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Rate of default for modified loans, estimated weighted average | ' | ' | 11.00% | ' |
Consumer, excluding credit card | Permanent Modification | Prime Mortgages, Including Option ARMs | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Weighted-average interest rate of loans with interest rate reductions – before TDR | 5.17% | 5.09% | 5.20% | 5.37% |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.54% | 2.78% | 2.67% | 2.83% |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | '25 years | '25 years | '24 years | '24 years |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | '37 years | '37 years | '37 years | '37 years |
Charge-offs recognized upon permanent modification | 2,000,000 | 6,000,000 | 4,000,000 | 11,000,000 |
Principal deferred | 10,000,000 | 32,000,000 | 23,000,000 | 67,000,000 |
Principal forgiven | 8,000,000 | 57,000,000 | 25,000,000 | 130,000,000 |
Number of loans that redefaulted within one year of permanent modification(a) | 163 | 189 | 285 | 397 |
Balance of loans that redefaulted within one year of permanent modification | 44,000,000 | 54,000,000 | 70,000,000 | 104,000,000 |
Rate of default for modified loans, estimated weighted average | ' | ' | 15.00% | ' |
Modifications, weighted-average remaining life | ' | ' | '9 years | ' |
Consumer, excluding credit card | Permanent Modification | Prime Mortgages, Including Option ARMs | Regulatory Guidance Regarding Chapter 7 Loans | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Rate of default for modified loans, estimated weighted average | ' | ' | 28.00% | ' |
Consumer, excluding credit card | Permanent Modification | Subprime Mortgages | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Weighted-average interest rate of loans with interest rate reductions – before TDR | 7.28% | 7.26% | 7.44% | 7.48% |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 3.47% | 3.50% | 3.43% | 3.54% |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | '24 years | '24 years | '24 years | '24 years |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | '35 years | '35 years | '36 years | '34 years |
Charge-offs recognized upon permanent modification | 0 | 3,000,000 | 1,000,000 | 6,000,000 |
Principal deferred | 4,000,000 | 11,000,000 | 11,000,000 | 21,000,000 |
Principal forgiven | 11,000,000 | 55,000,000 | 32,000,000 | 139,000,000 |
Number of loans that redefaulted within one year of permanent modification(a) | 269 | 317 | 436 | 629 |
Balance of loans that redefaulted within one year of permanent modification | 28,000,000 | 31,000,000 | 43,000,000 | 63,000,000 |
Rate of default for modified loans, estimated weighted average | ' | ' | 27.00% | ' |
Modifications, weighted-average remaining life | ' | ' | '8 years | ' |
Consumer, excluding credit card | Permanent Modification | Subprime Mortgages | Regulatory Guidance Regarding Chapter 7 Loans | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Rate of default for modified loans, estimated weighted average | ' | ' | 18.00% | ' |
Consumer, excluding credit card | Permanent Modification | Residential Real Estate, Excluding Purchased Credit-Impaired | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Weighted-average interest rate of loans with interest rate reductions – before TDR | 5.82% | 5.76% | 5.88% | 5.99% |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.72% | 2.94% | 2.75% | 2.98% |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | '23 years | '24 years | '23 years | '23 years |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | '35 years | '36 years | '36 years | '35 years |
Charge-offs recognized upon permanent modification | 10,000,000 | 34,000,000 | 28,000,000 | 63,000,000 |
Principal deferred | 18,000,000 | 51,000,000 | 42,000,000 | 105,000,000 |
Principal forgiven | 28,000,000 | 132,000,000 | 80,000,000 | 315,000,000 |
Number of loans that redefaulted within one year of permanent modification(a) | 694 | 849 | 1,242 | 1,846 |
Balance of loans that redefaulted within one year of permanent modification | $79,000,000 | $98,000,000 | $129,000,000 | $197,000,000 |
Loans_Consumer_Excluding_Credi7
Loans - Consumer, Excluding Credit Card Loans, Other Consumer Loans (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 |
In Millions, unless otherwise specified | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | |||
Auto Loans | Auto Loans | Auto Loans | Auto Loans | Auto Loans | Auto Loans | Auto Loans | Auto Loans | Business Banking Loans | Business Banking Loans | Business Banking Loans | Business Banking Loans | Business Banking Loans | Business Banking Loans | Business Banking Loans | Business Banking Loans | Student and Other Loans | Student and Other Loans | Other Consumer | Other Consumer | Other Consumer | Other Consumer | Other Consumer | Other Consumer | Other Consumer | Other Consumer | California | California | California | California | California | California | California | California | New York | New York | New York | New York | New York | New York | New York | New York | Illinois | Illinois | Illinois | Illinois | Illinois | Illinois | Illinois | Illinois | Florida | Florida | Florida | Florida | Florida | Florida | Florida | Florida | Texas | Texas | Texas | Texas | Texas | Texas | Texas | Texas | New Jersey | New Jersey | New Jersey | New Jersey | New Jersey | New Jersey | New Jersey | New Jersey | Arizona | Arizona | Arizona | Arizona | Arizona | Arizona | Arizona | Arizona | Washington | Washington | Washington | Washington | Washington | Washington | Washington | Washington | Michigan | Michigan | Michigan | Michigan | Michigan | Michigan | Michigan | Michigan | Ohio | Ohio | Ohio | Ohio | Ohio | Ohio | Ohio | Ohio | All other | All other | All other | All other | All other | All other | All other | All other | Current | Current | Current | Current | Current | Current | Current | Current | Current | Current | 30–119 days past due | 30–119 days past due | 30–119 days past due | 30–119 days past due | 30–119 days past due | 30–119 days past due | 30–119 days past due | 30–119 days past due | 30–119 days past due | 30–119 days past due | 30–119 days past due | 30–119 days past due | 120 or more days past due | 120 or more days past due | 120 or more days past due | 120 or more days past due | 120 or more days past due | 120 or more days past due | 120 or more days past due | 120 or more days past due | 120 or more days past due | 120 or more days past due | 120 or more days past due | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and still accruing | Nonaccrual loans | Nonaccrual loans | Nonaccrual loans | Nonaccrual loans | Nonaccrual loans | Nonaccrual loans | Nonaccrual loans | Nonaccrual loans | Days Past Due, 30 or More, and Still Accruing [Member] | Days Past Due, 30 or More, and Still Accruing [Member] | Days Past Due, 30 or More, and Still Accruing [Member] | |||||||
Noncriticized | Noncriticized | Criticized performing | Criticized performing | Criticized nonaccrual | Criticized nonaccrual | Noncriticized | Noncriticized | Criticized performing | Criticized performing | Criticized nonaccrual | Criticized nonaccrual | Noncriticized | Noncriticized | Criticized performing | Criticized performing | Criticized nonaccrual | Criticized nonaccrual | Auto Loans | Auto Loans | Business Banking Loans | Business Banking Loans | Student and Other Loans | Student and Other Loans | Other Consumer | Other Consumer | Auto Loans | Auto Loans | Business Banking Loans | Business Banking Loans | Student and Other Loans | Student and Other Loans | Other Consumer | Other Consumer | Auto Loans | Auto Loans | Business Banking Loans | Business Banking Loans | Student and Other Loans | Student and Other Loans | Other Consumer | Other Consumer | Auto Loans | Auto Loans | Business Banking Loans | Business Banking Loans | Student and Other Loans | Student and Other Loans | Other Consumer | Other Consumer | Auto Loans | Auto Loans | Business Banking Loans | Business Banking Loans | Student and Other Loans | Student and Other Loans | Other Consumer | Other Consumer | Auto Loans | Auto Loans | Business Banking Loans | Business Banking Loans | Student and Other Loans | Student and Other Loans | Other Consumer | Other Consumer | Auto Loans | Auto Loans | Business Banking Loans | Business Banking Loans | Student and Other Loans | Student and Other Loans | Other Consumer | Other Consumer | Auto Loans | Auto Loans | Business Banking Loans | Business Banking Loans | Student and Other Loans | Student and Other Loans | Other Consumer | Other Consumer | Auto Loans | Auto Loans | Business Banking Loans | Business Banking Loans | Student and Other Loans | Student and Other Loans | Other Consumer | Other Consumer | Auto Loans | Auto Loans | Business Banking Loans | Business Banking Loans | Student and Other Loans | Student and Other Loans | Other Consumer | Other Consumer | Auto Loans | Auto Loans | Business Banking Loans | Business Banking Loans | Student and Other Loans | Student and Other Loans | Other Consumer | Other Consumer | Auto Loans | Auto Loans | Business Banking Loans | Business Banking Loans | Student and Other Loans | Student and Other Loans | Other Consumer | Other Consumer | Other Consumer | Other Consumer | Auto Loans | Auto Loans | Business Banking Loans | Business Banking Loans | Student and Other Loans | Student and Other Loans | Other Consumer | Other Consumer | Other Consumer | Other Consumer | Other Consumer | Other Consumer | Auto Loans | Auto Loans | Business Banking Loans | Business Banking Loans | Student and Other Loans | Student and Other Loans | Other Consumer | Other Consumer | Other Consumer | Other Consumer | Other Consumer | Auto Loans | Auto Loans | Business Banking Loans | Business Banking Loans | Student and Other Loans | Student and Other Loans | Other Consumer | Other Consumer | Auto Loans | Auto Loans | Business Banking Loans | Business Banking Loans | Student and Other Loans | Student and Other Loans | Other Consumer | Other Consumer | Student and Other Loans | Student and Other Loans | Other Consumer | |||||||||||||||
Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Minimum | Maximum | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Minimum | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Minimum | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans retained | $735,369 | $724,177 | $719,884 | $288,214 | $288,449 | $287,388 | $53,042 | $52,757 | $9,269 | $9,968 | $34 | $54 | $0 | $38 | $19,453 | $18,951 | $14,065 | $13,622 | $740 | $711 | $271 | $316 | $11,325 | $11,557 | $83,820 | $83,265 | $23,334 | $23,590 | $774 | $765 | $271 | $354 | $5,957 | $5,615 | $2,740 | $2,374 | $1,124 | $1,112 | $9,821 | $9,101 | $3,689 | $3,898 | $3,128 | $3,084 | $1,248 | $1,218 | $8,065 | $8,200 | $2,966 | $2,917 | $1,296 | $1,341 | $750 | $740 | $5,012 | $4,998 | $2,094 | $2,012 | $708 | $646 | $536 | $539 | $3,338 | $3,197 | $5,310 | $5,310 | $2,592 | $2,646 | $870 | $878 | $8,772 | $8,834 | $1,942 | $2,014 | $407 | $392 | $390 | $397 | $2,739 | $2,803 | $1,949 | $1,855 | $981 | $1,046 | $253 | $252 | $3,183 | $3,153 | $1,001 | $950 | $238 | $234 | $235 | $227 | $1,474 | $1,411 | $1,771 | $1,902 | $1,363 | $1,383 | $489 | $513 | $3,623 | $3,798 | $2,148 | $2,229 | $1,304 | $1,316 | $670 | $708 | $4,122 | $4,253 | $24,215 | $24,055 | $4,696 | $4,489 | $4,760 | $4,973 | $33,671 | $33,517 | $52,549 | $52,152 | $19,097 | $18,511 | $10,411 | $10,529 | $82,057 | $81,192 | $4,700 | $4,900 | $489 | $599 | $204 | $280 | $621 | $660 | $1,314 | $1,539 | $359 | $387 | ' | ' | $4 | $6 | $152 | $160 | $293 | $368 | $449 | $534 | $271 | $350 | ' | $0 | $0 | $0 | $0 | $316 | $428 | $316 | $428 | $103 | $161 | $326 | $385 | $170 | $86 | $599 | $632 | $630 | $737 | ' |
Percentage of loans 30 plus days past due to total retained loans | ' | ' | ' | ' | ' | ' | 0.93% | 1.15% | ' | ' | ' | ' | ' | ' | 1.83% | 2.32% | ' | ' | ' | ' | ' | ' | 2.51% | 2.52% | 1.35% | 1.60% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans, charge-off criteria, period past due | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | '119 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '120 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days |
Loans_Consumer_Excluding_Credi8
Loans - Consumer, Excluding Credit Card Loans, Other Consumer Impaired Loans and Loan Modifications (Details) (Consumer, excluding credit card, USD $) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Auto Loans | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
With an allowance | $51,000,000 | ' | $51,000,000 | ' | $96,000,000 |
Without an allowance | 38,000,000 | ' | 38,000,000 | ' | 47,000,000 |
Total impaired loans | 89,000,000 | ' | 89,000,000 | ' | 143,000,000 |
Allowance for loan losses related to impaired loans | 8,000,000 | ' | 8,000,000 | ' | 13,000,000 |
Unpaid principal balance of impaired loans | 169,000,000 | ' | 169,000,000 | ' | 235,000,000 |
Average impaired loans | 103,000,000 | 129,000,000 | 119,000,000 | 137,000,000 | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance of TDRs | 97,000,000 | 140,000,000 | 107,000,000 | 150,000,000 | ' |
New TDRs | 17,000,000 | 22,000,000 | 37,000,000 | 42,000,000 | ' |
Charge-offs post-modification | 0 | -2,000,000 | 0 | -5,000,000 | ' |
Foreclosures and other liquidations (e.g., short sales) | -2,000,000 | 0 | -5,000,000 | 0 | ' |
Principal payments and other | -23,000,000 | -36,000,000 | -50,000,000 | -63,000,000 | ' |
Ending balance of TDRs | 89,000,000 | 124,000,000 | 89,000,000 | 124,000,000 | ' |
Business Banking Loans | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
With an allowance | 414,000,000 | ' | 414,000,000 | ' | 475,000,000 |
Without an allowance | 0 | ' | 0 | ' | 0 |
Total impaired loans | 414,000,000 | ' | 414,000,000 | ' | 475,000,000 |
Allowance for loan losses related to impaired loans | 79,000,000 | ' | 79,000,000 | ' | 94,000,000 |
Unpaid principal balance of impaired loans | 480,000,000 | ' | 480,000,000 | ' | 553,000,000 |
Average impaired loans | 487,000,000 | 528,000,000 | 475,000,000 | 536,000,000 | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance of TDRs | 249,000,000 | 341,000,000 | 271,000,000 | 352,000,000 | ' |
New TDRs | 16,000,000 | 18,000,000 | 24,000,000 | 40,000,000 | ' |
Charge-offs post-modification | -2,000,000 | 0 | -2,000,000 | -2,000,000 | ' |
Foreclosures and other liquidations (e.g., short sales) | -1,000,000 | 0 | -1,000,000 | 0 | ' |
Principal payments and other | -28,000,000 | -35,000,000 | -58,000,000 | -66,000,000 | ' |
Ending balance of TDRs | 234,000,000 | 324,000,000 | 234,000,000 | 324,000,000 | ' |
Other Consumer | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
With an allowance | 465,000,000 | ' | 465,000,000 | ' | 571,000,000 |
Without an allowance | 38,000,000 | ' | 38,000,000 | ' | 47,000,000 |
Total impaired loans | 503,000,000 | ' | 503,000,000 | ' | 618,000,000 |
Allowance for loan losses related to impaired loans | 87,000,000 | ' | 87,000,000 | ' | 107,000,000 |
Unpaid principal balance of impaired loans | 649,000,000 | ' | 649,000,000 | ' | 788,000,000 |
Average impaired loans | 590,000,000 | 657,000,000 | 594,000,000 | 673,000,000 | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance of TDRs | 346,000,000 | 481,000,000 | 378,000,000 | 502,000,000 | ' |
New TDRs | 33,000,000 | 40,000,000 | 61,000,000 | 82,000,000 | ' |
Charge-offs post-modification | -2,000,000 | -2,000,000 | -2,000,000 | -7,000,000 | ' |
Foreclosures and other liquidations (e.g., short sales) | -3,000,000 | 0 | -6,000,000 | 0 | ' |
Principal payments and other | -51,000,000 | -71,000,000 | -108,000,000 | -129,000,000 | ' |
Ending balance of TDRs | 323,000,000 | 448,000,000 | 323,000,000 | 448,000,000 | ' |
Student Loans | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
With an allowance | 63,000,000 | ' | 63,000,000 | ' | 0 |
Allowance for loan losses related to impaired loans | 18,000,000 | ' | 18,000,000 | ' | ' |
Nonaccrual loans | Auto Loans | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Total impaired loans | 63,000,000 | ' | 63,000,000 | ' | 113,000,000 |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance of TDRs | ' | ' | ' | ' | 77,000,000 |
Ending balance of TDRs | 63,000,000 | ' | 63,000,000 | ' | 77,000,000 |
Nonaccrual loans | Business Banking Loans | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Total impaired loans | 277,000,000 | ' | 277,000,000 | ' | 328,000,000 |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance of TDRs | ' | ' | ' | ' | 124,000,000 |
Ending balance of TDRs | 97,000,000 | ' | 97,000,000 | ' | 124,000,000 |
Nonaccrual loans | Other Consumer | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Total impaired loans | 340,000,000 | ' | 340,000,000 | ' | 441,000,000 |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance of TDRs | ' | ' | ' | ' | 201,000,000 |
Ending balance of TDRs | $160,000,000 | ' | $160,000,000 | ' | $201,000,000 |
Loans_Consumer_Excluding_Credi9
Loans - Consumer, Excluding Credit Card Loans, Other Consumer Loans Financial Effects of Modification (Details) (Consumer, excluding credit card, USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Business Banking Loans | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Balance of loans that redefaulted within one year of permanent modification | $7,000,000 | $11,000,000 | $14,000,000 | $23,000,000 |
Weighted-average interest rate of loans with interest rate reductions – before TDR | 7.11% | 7.58% | 7.35% | 7.94% |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 6.04% | 6.16% | 6.28% | 5.84% |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | '3 years 1 month 6 days | '1 year 7 months 6 days | '2 years 7 months 6 days | '1 year 6 months |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | '4 years 7 months 6 days | '3 years 9 months 18 days | '4 years 3 months 18 days | '3 years 1 month 6 days |
Business Banking Loans | Maximum | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of years before payment default under a modified loan | ' | ' | '1 year | ' |
Auto Loans | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Balance of loans that redefaulted within one year of permanent modification | $11,000,000 | $15,000,000 | $22,000,000 | $28,000,000 |
Weighted-average interest rate of loans with interest rate reductions – before TDR | 12.02% | 13.46% | 13.10% | 13.19% |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 4.98% | 4.82% | 4.97% | 4.94% |
Auto Loans | Maximum | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of years before payment default under a modified loan | ' | ' | '1 year | ' |
Scored Auto and Business Banking Loans | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Number of payments past due for deemed payment default | ' | ' | 2 | ' |
Recovered_Sheet1
Loans - Consumer, Excluding Credit Card Loans, PCI Loans (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Millions, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | $735,369 | $724,177 | $719,884 |
Consumer, excluding credit card | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 288,214 | 288,449 | 287,388 |
Consumer, excluding credit card | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 18,070 | 18,927 | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 1,758 | 1,758 | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 18,849 | 19,830 | ' |
Percentage of Loans Thirty Plus Days Past Due to Total Unpaid Principal Balance | 8.13% | 8.55% | ' |
Consumer, excluding credit card | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 11,302 | 12,038 | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 1,617 | 1,726 | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 11,087 | 11,876 | ' |
Percentage of Loans Thirty Plus Days Past Due to Total Unpaid Principal Balance | 13.75% | 14.80% | ' |
Consumer, excluding credit card | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 3,947 | 4,175 | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 180 | 180 | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 5,102 | 5,471 | ' |
Percentage of Loans Thirty Plus Days Past Due to Total Unpaid Principal Balance | 24.97% | 26.67% | ' |
Consumer, excluding credit card | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 16,799 | 17,915 | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 194 | 494 | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 17,838 | 19,223 | ' |
Percentage of Loans Thirty Plus Days Past Due to Total Unpaid Principal Balance | 17.45% | 19.36% | ' |
Consumer, excluding credit card | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 50,118 | 53,055 | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 3,749 | 4,158 | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 52,876 | 56,400 | ' |
Percentage of Loans Thirty Plus Days Past Due to Total Unpaid Principal Balance | 14.08% | 15.31% | ' |
Consumer, excluding credit card | California | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 11,341 | 11,937 | ' |
Consumer, excluding credit card | California | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 6,393 | 6,845 | ' |
Consumer, excluding credit card | California | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,218 | 1,293 | ' |
Consumer, excluding credit card | California | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 9,814 | 10,419 | ' |
Consumer, excluding credit card | California | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 28,766 | 30,494 | ' |
Consumer, excluding credit card | New York | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 922 | 962 | ' |
Consumer, excluding credit card | New York | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 748 | 807 | ' |
Consumer, excluding credit card | New York | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 514 | 563 | ' |
Consumer, excluding credit card | New York | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,048 | 1,196 | ' |
Consumer, excluding credit card | New York | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 3,232 | 3,528 | ' |
Consumer, excluding credit card | Illinois | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 429 | 451 | ' |
Consumer, excluding credit card | Illinois | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 324 | 353 | ' |
Consumer, excluding credit card | Illinois | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 258 | 283 | ' |
Consumer, excluding credit card | Illinois | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 445 | 481 | ' |
Consumer, excluding credit card | Illinois | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,456 | 1,568 | ' |
Consumer, excluding credit card | Florida | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,786 | 1,865 | ' |
Consumer, excluding credit card | Florida | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 772 | 826 | ' |
Consumer, excluding credit card | Florida | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 494 | 526 | ' |
Consumer, excluding credit card | Florida | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,631 | 1,817 | ' |
Consumer, excluding credit card | Florida | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 4,683 | 5,034 | ' |
Consumer, excluding credit card | Texas | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 302 | 327 | ' |
Consumer, excluding credit card | Texas | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 100 | 106 | ' |
Consumer, excluding credit card | Texas | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 305 | 328 | ' |
Consumer, excluding credit card | Texas | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 91 | 100 | ' |
Consumer, excluding credit card | Texas | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 798 | 861 | ' |
Consumer, excluding credit card | New Jersey | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 362 | 381 | ' |
Consumer, excluding credit card | New Jersey | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 316 | 334 | ' |
Consumer, excluding credit card | New Jersey | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 187 | 213 | ' |
Consumer, excluding credit card | New Jersey | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 614 | 701 | ' |
Consumer, excluding credit card | New Jersey | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,479 | 1,629 | ' |
Consumer, excluding credit card | Arizona | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 343 | 361 | ' |
Consumer, excluding credit card | Arizona | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 179 | 187 | ' |
Consumer, excluding credit card | Arizona | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 90 | 95 | ' |
Consumer, excluding credit card | Arizona | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 245 | 264 | ' |
Consumer, excluding credit card | Arizona | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 857 | 907 | ' |
Consumer, excluding credit card | Washington | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,020 | 1,072 | ' |
Consumer, excluding credit card | Washington | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 244 | 266 | ' |
Consumer, excluding credit card | Washington | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 103 | 112 | ' |
Consumer, excluding credit card | Washington | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 428 | 463 | ' |
Consumer, excluding credit card | Washington | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,795 | 1,913 | ' |
Consumer, excluding credit card | Michigan | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 58 | 62 | ' |
Consumer, excluding credit card | Michigan | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 177 | 189 | ' |
Consumer, excluding credit card | Michigan | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 139 | 145 | ' |
Consumer, excluding credit card | Michigan | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 193 | 206 | ' |
Consumer, excluding credit card | Michigan | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 567 | 602 | ' |
Consumer, excluding credit card | Ohio | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 21 | 23 | ' |
Consumer, excluding credit card | Ohio | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 50 | 55 | ' |
Consumer, excluding credit card | Ohio | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 79 | 84 | ' |
Consumer, excluding credit card | Ohio | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 72 | 75 | ' |
Consumer, excluding credit card | Ohio | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 222 | 237 | ' |
Consumer, excluding credit card | All other | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 2,265 | 2,389 | ' |
Consumer, excluding credit card | All other | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,784 | 1,908 | ' |
Consumer, excluding credit card | All other | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,715 | 1,829 | ' |
Consumer, excluding credit card | All other | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 3,257 | 3,501 | ' |
Consumer, excluding credit card | All other | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 9,021 | 9,627 | ' |
Consumer, excluding credit card | Current | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 17,317 | 18,135 | ' |
Consumer, excluding credit card | Current | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 9,563 | 10,118 | ' |
Consumer, excluding credit card | Current | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 3,828 | 4,012 | ' |
Consumer, excluding credit card | Current | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 14,725 | 15,501 | ' |
Consumer, excluding credit card | Current | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 45,433 | 47,766 | ' |
Consumer, excluding credit card | 30–149 days past due | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 465 | 583 | ' |
Consumer, excluding credit card | 30–149 days past due | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 538 | 589 | ' |
Consumer, excluding credit card | 30–149 days past due | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 591 | 662 | ' |
Consumer, excluding credit card | 30–149 days past due | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 930 | 1,006 | ' |
Consumer, excluding credit card | 30–149 days past due | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 2,524 | 2,840 | ' |
Consumer, excluding credit card | 150 or more days past due | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,067 | 1,112 | ' |
Consumer, excluding credit card | 150 or more days past due | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 986 | 1,169 | ' |
Consumer, excluding credit card | 150 or more days past due | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 683 | 797 | ' |
Consumer, excluding credit card | 150 or more days past due | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 2,183 | 2,716 | ' |
Consumer, excluding credit card | 150 or more days past due | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 4,919 | 5,794 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | Greater than 125% and refreshed FICO scores: | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 772 | 1,168 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | Greater than 125% and refreshed FICO scores: | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 118 | 240 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | Greater than 125% and refreshed FICO scores: | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 74 | 115 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | Greater than 125% and refreshed FICO scores: | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 156 | 301 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | Greater than 125% and refreshed FICO scores: | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,120 | 1,824 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | 101% to 125% and refreshed FICO scores: | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 2,568 | 3,248 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | 101% to 125% and refreshed FICO scores: | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 715 | 1,017 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | 101% to 125% and refreshed FICO scores: | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 249 | 316 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | 101% to 125% and refreshed FICO scores: | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 784 | 1,164 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | 101% to 125% and refreshed FICO scores: | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 4,316 | 5,745 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | 80% to 100% and refreshed FICO scores: | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 4,365 | 4,473 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | 80% to 100% and refreshed FICO scores: | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 2,400 | 2,787 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | 80% to 100% and refreshed FICO scores: | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 552 | 544 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | 80% to 100% and refreshed FICO scores: | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 2,741 | 3,311 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | 80% to 100% and refreshed FICO scores: | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 10,058 | 11,115 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | Less than 80% and refreshed FICO scores: | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 5,739 | 5,077 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | Less than 80% and refreshed FICO scores: | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 3,425 | 2,897 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | Less than 80% and refreshed FICO scores: | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 641 | 521 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | Less than 80% and refreshed FICO scores: | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 6,410 | 5,671 | ' |
Consumer, excluding credit card | Equal to or greater than 660 | Less than 80% and refreshed FICO scores: | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 16,215 | 14,166 | ' |
Consumer, excluding credit card | Less than 660 | Greater than 125% and refreshed FICO scores: | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 411 | 662 | ' |
Consumer, excluding credit card | Less than 660 | Greater than 125% and refreshed FICO scores: | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 158 | 290 | ' |
Consumer, excluding credit card | Less than 660 | Greater than 125% and refreshed FICO scores: | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 274 | 459 | ' |
Consumer, excluding credit card | Less than 660 | Greater than 125% and refreshed FICO scores: | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 309 | 575 | ' |
Consumer, excluding credit card | Less than 660 | Greater than 125% and refreshed FICO scores: | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,152 | 1,986 | ' |
Consumer, excluding credit card | Less than 660 | 101% to 125% and refreshed FICO scores: | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,189 | 1,541 | ' |
Consumer, excluding credit card | Less than 660 | 101% to 125% and refreshed FICO scores: | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 552 | 884 | ' |
Consumer, excluding credit card | Less than 660 | 101% to 125% and refreshed FICO scores: | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 688 | 919 | ' |
Consumer, excluding credit card | Less than 660 | 101% to 125% and refreshed FICO scores: | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,052 | 1,563 | ' |
Consumer, excluding credit card | Less than 660 | 101% to 125% and refreshed FICO scores: | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 3,481 | 4,907 | ' |
Consumer, excluding credit card | Less than 660 | 80% to 100% and refreshed FICO scores: | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,758 | 1,782 | ' |
Consumer, excluding credit card | Less than 660 | 80% to 100% and refreshed FICO scores: | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,537 | 1,699 | ' |
Consumer, excluding credit card | Less than 660 | 80% to 100% and refreshed FICO scores: | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,131 | 1,197 | ' |
Consumer, excluding credit card | Less than 660 | 80% to 100% and refreshed FICO scores: | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 2,339 | 2,769 | ' |
Consumer, excluding credit card | Less than 660 | 80% to 100% and refreshed FICO scores: | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 6,765 | 7,447 | ' |
Consumer, excluding credit card | Less than 660 | Less than 80% and refreshed FICO scores: | PCI - Home Equity | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 2,047 | 1,879 | ' |
Consumer, excluding credit card | Less than 660 | Less than 80% and refreshed FICO scores: | PCI - Prime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 2,182 | 2,062 | ' |
Consumer, excluding credit card | Less than 660 | Less than 80% and refreshed FICO scores: | PCI - Subprime Mortgage | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,493 | 1,400 | ' |
Consumer, excluding credit card | Less than 660 | Less than 80% and refreshed FICO scores: | PCI - Option ARMs | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 4,047 | 3,869 | ' |
Consumer, excluding credit card | Less than 660 | Less than 80% and refreshed FICO scores: | Purchased Credit-Impaired | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | $9,769 | $9,210 | ' |
Recovered_Sheet2
Loans - Consumer, Excluding Credit Card Loans, PCI Delinquency Statistics (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | Consumer, excluding credit card | |||
PCI - Home Equity, Senior Lien | PCI - Home Equity, Junior Lien, Excluding Lines of Credit [Member] | PCI - Home Equity, Junior Lien, Excluding Lines of Credit [Member] | PCI - Home Equity, Junior Lien | PCI - Home Equity, Junior Lien | HELOC, Within the Revolving Period | HELOC, Within the Revolving Period | HELOCs, Beyond the Revolving Period | HELOCs, Beyond the Revolving Period | 30–89 days past due | 30–89 days past due | 30–89 days past due | 30–89 days past due | 30–89 days past due | 30–89 days past due | 30–89 days past due | 30–89 days past due | 90–149 days past due | 90–149 days past due | 90–149 days past due | 90–149 days past due | 90–149 days past due | 90–149 days past due | 90–149 days past due | 90–149 days past due | 150 or more days past due | 150 or more days past due | 150 or more days past due | 150 or more days past due | 150 or more days past due | 150 or more days past due | 150 or more days past due | 150 or more days past due | |||||||
PCI - Home Equity, Junior Lien, Lines of Credit | PCI - Home Equity, Junior Lien, Lines of Credit | PCI - Home Equity, Junior Lien, Lines of Credit | PCI - Home Equity, Junior Lien, Lines of Credit | PCI - Home Equity, Junior Lien, Excluding Lines of Credit [Member] | PCI - Home Equity, Junior Lien, Excluding Lines of Credit [Member] | PCI - Home Equity, Junior Lien | PCI - Home Equity, Junior Lien | HELOC, Within the Revolving Period | HELOC, Within the Revolving Period | HELOCs, Beyond the Revolving Period | HELOCs, Beyond the Revolving Period | PCI - Home Equity, Junior Lien, Excluding Lines of Credit [Member] | PCI - Home Equity, Junior Lien, Excluding Lines of Credit [Member] | PCI - Home Equity, Junior Lien | PCI - Home Equity, Junior Lien | HELOC, Within the Revolving Period | HELOC, Within the Revolving Period | HELOCs, Beyond the Revolving Period | HELOCs, Beyond the Revolving Period | PCI - Home Equity, Junior Lien, Excluding Lines of Credit [Member] | PCI - Home Equity, Junior Lien, Excluding Lines of Credit [Member] | PCI - Home Equity, Junior Lien | PCI - Home Equity, Junior Lien | HELOC, Within the Revolving Period | HELOC, Within the Revolving Period | HELOCs, Beyond the Revolving Period | HELOCs, Beyond the Revolving Period | ||||||||||||
PCI - Home Equity, Junior Lien, Lines of Credit | PCI - Home Equity, Junior Lien, Lines of Credit | PCI - Home Equity, Junior Lien, Lines of Credit | PCI - Home Equity, Junior Lien, Lines of Credit | PCI - Home Equity, Junior Lien, Lines of Credit | PCI - Home Equity, Junior Lien, Lines of Credit | PCI - Home Equity, Junior Lien, Lines of Credit | PCI - Home Equity, Junior Lien, Lines of Credit | PCI - Home Equity, Junior Lien, Lines of Credit | PCI - Home Equity, Junior Lien, Lines of Credit | PCI - Home Equity, Junior Lien, Lines of Credit | PCI - Home Equity, Junior Lien, Lines of Credit | ||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of senior liens to total financing receivables | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans retained | $735,369 | $724,177 | $719,884 | $288,214 | $288,449 | $287,388 | ' | $812 | $908 | $14,760 | $15,914 | $10,802 | $12,670 | $3,146 | $2,336 | $20 | $24 | $254 | $321 | $174 | $243 | $60 | $54 | $8 | $11 | $88 | $120 | $60 | $88 | $20 | $21 | $40 | $39 | $627 | $647 | $467 | $526 | $120 | $82 |
Percentage of loans 30 plus days past due to total retained loans | ' | ' | ' | ' | ' | ' | ' | 8.37% | 8.15% | 6.57% | 6.84% | 6.49% | 6.76% | 6.36% | 6.72% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Home equity line of credit, open-ended revolving period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recovered_Sheet3
Loans - Consumer, Excluding Credit Card Loans, PCI Accretable Yield Activity (Details) (Consumer, excluding credit card, Purchased Credit-Impaired, USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Consumer, excluding credit card | Purchased Credit-Impaired | ' | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ' | ' | ' | ' |
Beginning balance | $15,782 | $19,464 | $16,167 | $18,457 |
Accretion into interest income | -495 | -565 | -1,009 | -1,138 |
Changes in interest rates on variable-rate loans | -45 | 49 | -66 | -110 |
Other changes in expected cash flows | 33 | -342 | 183 | 1,397 |
Ending balance | $15,275 | $18,606 | $15,275 | $18,606 |
Accretable yield percentage | 4.24% | 4.38% | 4.28% | 4.36% |
Loans_Credit_Card_Loan_Portfol
Loans - Credit Card Loan Portfolio (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Millions, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | $735,369 | $724,177 | $719,884 |
Credit card | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 125,621 | 127,465 | 124,288 |
Credit card | Credit Card Loan | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 125,621 | 127,465 | ' |
Percentage of loans 30 plus days past due to total retained loans | 1.41% | 1.67% | ' |
Percentage of loans 90 plus days past due to total retained loans | 0.69% | 0.80% | ' |
Percentage of Loans with FICO Scores of 660 Or Greater to Total Retained Loans | 86.20% | 85.10% | ' |
Percentage of Loans with FICO Scores Less than 660 to Total Retained Loans | 13.80% | 14.90% | ' |
Credit card | Credit Card Loan | California | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 17,040 | 17,194 | ' |
Credit card | Credit Card Loan | New York | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 10,425 | 10,497 | ' |
Credit card | Credit Card Loan | Texas | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 10,464 | 10,400 | ' |
Credit card | Credit Card Loan | Illinois | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 7,313 | 7,412 | ' |
Credit card | Credit Card Loan | Florida | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 7,039 | 7,178 | ' |
Credit card | Credit Card Loan | New Jersey | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 5,516 | 5,554 | ' |
Credit card | Credit Card Loan | Ohio | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 4,736 | 4,881 | ' |
Credit card | Credit Card Loan | Pennsylvania | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 4,347 | 4,462 | ' |
Credit card | Credit Card Loan | Michigan | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 3,502 | 3,618 | ' |
Credit card | Credit Card Loan | Virginia | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 3,172 | 3,239 | ' |
Credit card | Credit Card Loan | All other | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 52,067 | 53,030 | ' |
Credit card | Credit Card Loan | Current | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 123,849 | 125,335 | ' |
Credit card | Credit Card Loan | 30–89 days past due and still accruing | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 910 | 1,108 | ' |
Credit card | Credit Card Loan | 90 or more days past due and still accruing | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 862 | 1,022 | ' |
Credit card | Credit Card Loan | Nonaccrual loans | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | $0 | $0 | ' |
Loans_Credit_Card_Portfolio_Im
Loans - Credit Card Portfolio - Impaired Loans (Details) (Credit card, Credit Card Loan, USD $) | 3 Months Ended | 6 Months Ended | |||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | $2,173 | ' | $2,173 | ' | $2,746 |
Loans and Leases Receivable, Impaired, Reverted to Original Payment Terms Amount | 294 | ' | 294 | ' | 369 |
Total impaired loans | 2,467 | ' | 2,467 | ' | 3,115 |
Allowance for loan losses related to impaired loans | 583 | ' | 583 | ' | 971 |
Average impaired loans | 2,617 | 4,070 | 2,776 | 4,294 | ' |
Interest income on impaired loans | 32 | 52 | 68 | 110 | ' |
Noncompliance with Modified Terms [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Impaired, Reverted to Original Payment Terms Amount | 179 | ' | 179 | ' | 226 |
Completion of Short Term Modification [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Impaired, Reverted to Original Payment Terms Amount | $115 | ' | $115 | ' | $143 |
Loans_Credit_Card_Portfolio_Lo
Loans - Credit Card Portfolio - Loans Modifications (Details) (Credit card, Credit Card Loan, USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
loan_payment | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Weighted-average interest rate of loans with interest rate reductions – before TDR | 15.05% | 15.38% | 15.04% | 15.44% | ' |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 4.33% | 4.27% | 4.36% | 4.88% | ' |
Balance of loans that redefaulted within one year of permanent modification | $29,000,000 | $41,000,000 | $63,000,000 | $85,000,000 | ' |
Number of payments past due for deemed payment default | ' | ' | 2 | ' | ' |
Rate of default for modified loans, estimated weighted average | ' | ' | 29.17% | ' | 30.72% |
Maximum | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Number of years before payment default under a modified loan | ' | ' | '1 year | ' | ' |
Total new enrollments | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
New TDRs | $193,000,000 | $288,000,000 | $426,000,000 | $627,000,000 | ' |
Loans_Wholesale_Loan_Portfolio
Loans - Wholesale Loan Portfolio- By Class of Receivable (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | Financial institutions | Government agencies | Other | Total retained loans | Total noninvestment- grade | Total noninvestment- grade | Total noninvestment- grade | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | Wholesale | |||
Financial institutions | Government agencies | Other | Commercial and industrial | Commercial and industrial | Real estate | Real estate | Financial institutions | Financial institutions | Financial institutions | Government agencies | Government agencies | Government agencies | Other | Other | Other | Total retained loans | Total retained loans | Total retained loans | Current | Current | Current | Current | Current | Current | Current | Current | Current | Current | Current | Current | 30–89 days past due and still accruing | 30–89 days past due and still accruing | 30–89 days past due and still accruing | 30–89 days past due and still accruing | 30–89 days past due and still accruing | 30–89 days past due and still accruing | 30–89 days past due and still accruing | 30–89 days past due and still accruing | 30–89 days past due and still accruing | 30–89 days past due and still accruing | 30–89 days past due and still accruing | 30–89 days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and still accruing | 90 or more days past due and still accruing | Nonaccrual loans | Nonaccrual loans | Nonaccrual loans | Nonaccrual loans | Nonaccrual loans | Nonaccrual loans | Nonaccrual loans | Nonaccrual loans | Nonaccrual loans | Nonaccrual loans | Nonaccrual loans | Nonaccrual loans | Total non-U.S. | Total non-U.S. | Total non-U.S. | Total non-U.S. | Total non-U.S. | Total non-U.S. | Total non-U.S. | Total non-U.S. | Total non-U.S. | Total non-U.S. | Total non-U.S. | Total non-U.S. | Total U.S. | Total U.S. | Total U.S. | Total U.S. | Total U.S. | Total U.S. | Total U.S. | Total U.S. | Total U.S. | Total U.S. | Total U.S. | Total U.S. | Investment-grade | Investment-grade | Investment-grade | Investment-grade | Investment-grade | Investment-grade | Investment-grade | Investment-grade | Investment-grade | Investment-grade | Investment-grade | Investment-grade | Total noninvestment- grade | Total noninvestment- grade | Total noninvestment- grade | Total noninvestment- grade | Total noninvestment- grade | Total noninvestment- grade | Total noninvestment- grade | Total noninvestment- grade | Total noninvestment- grade | Noncriticized | Noncriticized | Noncriticized | Noncriticized | Noncriticized | Noncriticized | Noncriticized | Noncriticized | Noncriticized | Noncriticized | Noncriticized | Noncriticized | Criticized performing | Criticized performing | Criticized performing | Criticized performing | Criticized performing | Criticized performing | Criticized performing | Criticized performing | Criticized performing | Criticized performing | Criticized performing | Criticized performing | Criticized nonaccrual | Criticized nonaccrual | Criticized nonaccrual | Criticized nonaccrual | Criticized nonaccrual | Criticized nonaccrual | Criticized nonaccrual | Criticized nonaccrual | Criticized nonaccrual | Criticized nonaccrual | Criticized nonaccrual | Criticized nonaccrual | |||||||||||
Commercial and industrial | Commercial and industrial | Real estate | Real estate | Financial institutions | Financial institutions | Government agencies | Government agencies | Other | Other | Total retained loans | Total retained loans | Commercial and industrial | Commercial and industrial | Real estate | Real estate | Financial institutions | Financial institutions | Government agencies | Government agencies | Other | Other | Total retained loans | Total retained loans | Commercial and industrial | Commercial and industrial | Real estate | Real estate | Financial institutions | Financial institutions | Government agencies | Government agencies | Other | Other | Total retained loans | Total retained loans | Commercial and industrial | Commercial and industrial | Real estate | Real estate | Financial institutions | Financial institutions | Government agencies | Government agencies | Other | Other | Total retained loans | Total retained loans | Commercial and industrial | Commercial and industrial | Real estate | Real estate | Financial institutions | Financial institutions | Government agencies | Government agencies | Other | Other | Total retained loans | Total retained loans | Commercial and industrial | Commercial and industrial | Real estate | Real estate | Financial institutions | Financial institutions | Government agencies | Government agencies | Other | Other | Total retained loans | Total retained loans | Commercial and industrial | Commercial and industrial | Real estate | Real estate | Financial institutions | Financial institutions | Government agencies | Government agencies | Other | Other | Total retained loans | Total retained loans | Commercial and industrial | Commercial and industrial | Real estate | Real estate | Financial institutions | Government agencies | Other | Total retained loans | Total retained loans | Commercial and industrial | Commercial and industrial | Real estate | Real estate | Financial institutions | Financial institutions | Government agencies | Government agencies | Other | Other | Total retained loans | Total retained loans | Commercial and industrial | Commercial and industrial | Real estate | Real estate | Financial institutions | Financial institutions | Government agencies | Government agencies | Other | Other | Total retained loans | Total retained loans | Commercial and industrial | Commercial and industrial | Real estate | Real estate | Financial institutions | Financial institutions | Government agencies | Government agencies | Other | Other | Total retained loans | Total retained loans | ||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans retained | $735,369 | $724,177 | $719,884 | $39,040 | $9,645 | $90,872 | $321,534 | $8,304 | $283 | $10,363 | $321,534 | $308,263 | $308,208 | $108,351 | $103,846 | $73,626 | $69,151 | ' | ' | $33,683 | ' | ' | $10,462 | ' | ' | $91,121 | $321,534 | $308,263 | $308,263 | $107,836 | $103,357 | $73,191 | $68,627 | $38,967 | $33,426 | $9,574 | $10,421 | $89,671 | $89,717 | $319,239 | $305,548 | $233 | $181 | $125 | $164 | $50 | $226 | $18 | $40 | $1,032 | $1,233 | $1,458 | $1,844 | $26 | $14 | $22 | $14 | $2 | $6 | $53 | $0 | $7 | $16 | $110 | $50 | $256 | $294 | $288 | $346 | $21 | $25 | $0 | $1 | $162 | $155 | $727 | $821 | $35,397 | $34,440 | $2,765 | $1,369 | $25,531 | $22,726 | $1,421 | $2,146 | $44,589 | $43,376 | $109,703 | $104,057 | $72,954 | $69,406 | $70,861 | $67,782 | $13,509 | $10,957 | $8,224 | $8,316 | $46,283 | $47,745 | $211,831 | $204,206 | $58,802 | $57,690 | $56,282 | $52,195 | $30,736 | $26,712 | $9,362 | $9,979 | $80,509 | $79,494 | $235,691 | $226,070 | $49,549 | $46,156 | $17,344 | $16,956 | $6,971 | $483 | $11,627 | $85,843 | $82,193 | $46,668 | $43,477 | $15,215 | $14,381 | $8,048 | $6,674 | $280 | $440 | $9,776 | $10,992 | $79,987 | $75,964 | $2,625 | $2,385 | $1,841 | $2,229 | $235 | $272 | $3 | $42 | $425 | $480 | $5,129 | $5,408 | $256 | $294 | $288 | $346 | $21 | $25 | $0 | $1 | $162 | $155 | $727 | $821 |
Percentage of criticized loans to total retained loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.66% | 2.58% | 2.89% | 3.72% | 0.66% | 0.88% | ' | 0.03% | 0.41% | ' | 0.65% | 0.70% | ' | 1.82% | 2.02% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of longs on nonaccrual status to total retained loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.24% | 0.28% | 0.39% | 0.50% | 0.05% | 0.07% | ' | 0.00% | 0.01% | ' | 0.18% | 0.17% | ' | 0.23% | 0.27% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans_Wholesale_Loan_Portfolio1
Loans - Wholesale Loan Portfolio - Real Estate Class of Loans (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Millions, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | $735,369 | $724,177 | $719,884 |
Wholesale | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 321,534 | 308,263 | 308,208 |
Wholesale | Real estate | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 73,626 | 69,151 | ' |
Percentage of criticized loans to total retained loans | 2.89% | 3.72% | ' |
Percentage of longs on nonaccrual status to total retained loans | 0.39% | 0.50% | ' |
Wholesale | Multifamily | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 46,711 | 44,389 | ' |
Percentage of criticized loans to total retained loans | 2.00% | 2.57% | ' |
Percentage of longs on nonaccrual status to total retained loans | 0.34% | 0.43% | ' |
Wholesale | Commercial lessors | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 16,833 | 15,949 | ' |
Percentage of criticized loans to total retained loans | 6.68% | 8.30% | ' |
Percentage of longs on nonaccrual status to total retained loans | 0.75% | 0.90% | ' |
Wholesale | Commercial construction and development | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 3,944 | 3,674 | ' |
Percentage of criticized loans to total retained loans | 1.22% | 2.20% | ' |
Percentage of longs on nonaccrual status to total retained loans | 0.00% | 0.08% | ' |
Wholesale | Other Real Estate Loans | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 6,138 | 5,139 | ' |
Percentage of criticized loans to total retained loans | 0.36% | 0.56% | ' |
Percentage of longs on nonaccrual status to total retained loans | 0.03% | 0.18% | ' |
Wholesale | Criticized | Real estate | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 2,129 | 2,575 | ' |
Wholesale | Criticized | Multifamily | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 935 | 1,142 | ' |
Wholesale | Criticized | Commercial lessors | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 1,124 | 1,323 | ' |
Wholesale | Criticized | Commercial construction and development | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 48 | 81 | ' |
Wholesale | Criticized | Other Real Estate Loans | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 22 | 29 | ' |
Wholesale | Criticized nonaccrual | Real estate | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 288 | 346 | ' |
Wholesale | Criticized nonaccrual | Multifamily | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 159 | 191 | ' |
Wholesale | Criticized nonaccrual | Commercial lessors | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 127 | 143 | ' |
Wholesale | Criticized nonaccrual | Commercial construction and development | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | 0 | 3 | ' |
Wholesale | Criticized nonaccrual | Other Real Estate Loans | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans retained | $2 | $9 | ' |
Loans_Wholesale_Loan_Portfolio2
Loans - Wholesale Loan Portfolio - Impaired Loans (Details) (Wholesale, USD $) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Commercial and industrial | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
With an allowance | $232,000,000 | ' | $232,000,000 | ' | $236,000,000 |
Without an allowance | 32,000,000 | ' | 32,000,000 | ' | 58,000,000 |
Total impaired loans | 264,000,000 | ' | 264,000,000 | ' | 294,000,000 |
Allowance for loan losses related to impaired loans | 60,000,000 | ' | 60,000,000 | ' | 75,000,000 |
Unpaid principal balance of impaired loans | 325,000,000 | ' | 325,000,000 | ' | 448,000,000 |
Average impaired loans | 249,000,000 | 387,000,000 | 270,000,000 | 496,000,000 | ' |
Real estate | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
With an allowance | 200,000,000 | ' | 200,000,000 | ' | 258,000,000 |
Without an allowance | 89,000,000 | ' | 89,000,000 | ' | 109,000,000 |
Total impaired loans | 289,000,000 | ' | 289,000,000 | ' | 367,000,000 |
Allowance for loan losses related to impaired loans | 43,000,000 | ' | 43,000,000 | ' | 63,000,000 |
Unpaid principal balance of impaired loans | 366,000,000 | ' | 366,000,000 | ' | 454,000,000 |
Average impaired loans | 306,000,000 | 518,000,000 | 330,000,000 | 526,000,000 | ' |
Financial institutions | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
With an allowance | 5,000,000 | ' | 5,000,000 | ' | 17,000,000 |
Without an allowance | 8,000,000 | ' | 8,000,000 | ' | 8,000,000 |
Total impaired loans | 13,000,000 | ' | 13,000,000 | ' | 25,000,000 |
Allowance for loan losses related to impaired loans | 11,000,000 | ' | 11,000,000 | ' | 16,000,000 |
Unpaid principal balance of impaired loans | 12,000,000 | ' | 12,000,000 | ' | 24,000,000 |
Average impaired loans | 19,000,000 | 11,000,000 | 21,000,000 | 9,000,000 | ' |
Government agencies | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
With an allowance | 0 | ' | 0 | ' | 1,000,000 |
Without an allowance | 0 | ' | 0 | ' | 0 |
Total impaired loans | 0 | ' | 0 | ' | 1,000,000 |
Allowance for loan losses related to impaired loans | 0 | ' | 0 | ' | 0 |
Unpaid principal balance of impaired loans | 0 | ' | 0 | ' | 1,000,000 |
Average impaired loans | 0 | 0 | 0 | 0 | ' |
Other | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
With an allowance | 104,000,000 | ' | 104,000,000 | ' | 85,000,000 |
Without an allowance | 62,000,000 | ' | 62,000,000 | ' | 73,000,000 |
Total impaired loans | 166,000,000 | ' | 166,000,000 | ' | 158,000,000 |
Allowance for loan losses related to impaired loans | 24,000,000 | ' | 24,000,000 | ' | 27,000,000 |
Unpaid principal balance of impaired loans | 251,000,000 | ' | 251,000,000 | ' | 241,000,000 |
Average impaired loans | 159,000,000 | 226,000,000 | 164,000,000 | 225,000,000 | ' |
Total retained loans | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
With an allowance | 541,000,000 | ' | 541,000,000 | ' | 597,000,000 |
Without an allowance | 191,000,000 | ' | 191,000,000 | ' | 248,000,000 |
Total impaired loans | 732,000,000 | ' | 732,000,000 | ' | 845,000,000 |
Allowance for loan losses related to impaired loans | 138,000,000 | ' | 138,000,000 | ' | 181,000,000 |
Unpaid principal balance of impaired loans | 954,000,000 | ' | 954,000,000 | ' | 1,168,000,000 |
Average impaired loans | $733,000,000 | $1,142,000,000 | $785,000,000 | $1,256,000,000 | ' |
Loans_Wholesale_Loan_Portfolio3
Loans - Wholesale Loan Portfolio - Loan Modification (Details) (Wholesale, USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Commercial and industrial | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Beginning balance of TDRs | $84,000,000 | $254,000,000 | $77,000,000 | $575,000,000 |
New TDRs | 25,000,000 | 27,000,000 | 48,000,000 | 41,000,000 |
Increases to existing TDRs | 10,000,000 | 1,000,000 | 11,000,000 | 4,000,000 |
Charge-offs post-modification | 0 | 0 | 0 | -1,000,000 |
Principal payments and other | -9,000,000 | -173,000,000 | -26,000,000 | -510,000,000 |
Ending balance of TDRs | 110,000,000 | 109,000,000 | 110,000,000 | 109,000,000 |
Additional commitments to lend to borrowers whose loans have been modified in TDRs | 145,000,000 | 22,000,000 | 145,000,000 | 22,000,000 |
Real estate | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Beginning balance of TDRs | 78,000,000 | 124,000,000 | 88,000,000 | 99,000,000 |
New TDRs | 0 | 10,000,000 | 10,000,000 | 41,000,000 |
Increases to existing TDRs | 0 | 0 | 0 | 0 |
Charge-offs post-modification | 0 | 0 | 0 | -3,000,000 |
Principal payments and other | -4,000,000 | -23,000,000 | -24,000,000 | -26,000,000 |
Ending balance of TDRs | 74,000,000 | 111,000,000 | 74,000,000 | 111,000,000 |
Additional commitments to lend to borrowers whose loans have been modified in TDRs | 0 | 0 | 0 | 0 |
Financial Institutions, Government Agencies and Other Wholesale [Member] | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Beginning balance of TDRs | 31,000,000 | 43,000,000 | 33,000,000 | 22,000,000 |
New TDRs | 3,000,000 | 15,000,000 | 3,000,000 | 37,000,000 |
Increases to existing TDRs | 0 | 0 | 0 | 0 |
Charge-offs post-modification | 0 | 0 | -1,000,000 | 0 |
Principal payments and other | -12,000,000 | -24,000,000 | -13,000,000 | -25,000,000 |
Ending balance of TDRs | 22,000,000 | 34,000,000 | 22,000,000 | 34,000,000 |
Additional commitments to lend to borrowers whose loans have been modified in TDRs | 0 | 1,000,000 | 0 | 1,000,000 |
Total retained loans | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Beginning balance of TDRs | 193,000,000 | 421,000,000 | 198,000,000 | 696,000,000 |
New TDRs | 28,000,000 | 52,000,000 | 61,000,000 | 119,000,000 |
Increases to existing TDRs | 10,000,000 | 1,000,000 | 11,000,000 | 4,000,000 |
Charge-offs post-modification | 0 | 0 | -1,000,000 | -4,000,000 |
Principal payments and other | -25,000,000 | -220,000,000 | -63,000,000 | -561,000,000 |
Ending balance of TDRs | 206,000,000 | 254,000,000 | 206,000,000 | 254,000,000 |
Additional commitments to lend to borrowers whose loans have been modified in TDRs | 145,000,000 | 23,000,000 | 145,000,000 | 23,000,000 |
Modifications, average term or payment extension granted | '0 years | '10 months 24 days | '1 year | '2 years 1 month 6 days |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | '2 years 9 months 18 days | '1 year 4 months 24 days | '2 years 8 months 12 days | '1 year 7 months 6 days |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 1,000,000 | 0 | 1,000,000 |
Nonaccrual loans | Commercial and industrial | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Ending balance of TDRs | 110,000,000 | 102,000,000 | 110,000,000 | 102,000,000 |
Nonaccrual loans | Real estate | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Ending balance of TDRs | 67,000,000 | 82,000,000 | 67,000,000 | 82,000,000 |
Nonaccrual loans | Financial Institutions, Government Agencies and Other Wholesale [Member] | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Ending balance of TDRs | 19,000,000 | 27,000,000 | 19,000,000 | 27,000,000 |
Nonaccrual loans | Total retained loans | ' | ' | ' | ' |
Loans Modified in Troubled Debt Restructurings [Roll Forward] | ' | ' | ' | ' |
Ending balance of TDRs | $196,000,000 | $211,000,000 | $196,000,000 | $211,000,000 |
Allowance_for_Credit_Losses_De
Allowance for Credit Losses (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Allowance for Loan Losses [Roll Forward] | ' | ' | ' | ' | ' |
Provision for loan losses | $692 | $47 | $1,542 | $664 | ' |
Loans by impairment methodology | ' | ' | ' | ' | ' |
Asset-specific | 16,390 | 19,140 | 16,390 | 19,140 | ' |
Formula-based | 668,856 | 643,996 | 668,856 | 643,996 | ' |
PCI | 50,123 | 56,748 | 50,123 | 56,748 | ' |
Total Retained Loans | 735,369 | 719,884 | 735,369 | 719,884 | 724,177 |
Lending-related commitments by impairment methodology | ' | ' | ' | ' | ' |
Asset-specific | 122 | 283 | 122 | 283 | ' |
Formula-based | 1,041,251 | 1,039,851 | 1,041,251 | 1,039,851 | ' |
Total lending-related commitments | 1,041,373 | 1,040,134 | 1,041,373 | 1,040,134 | 1,031,672 |
Allowance for Loans and Leases Receivable | ' | ' | ' | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | ' | ' | 16,264 | 21,936 | ' |
Gross charge-offs | ' | ' | 3,143 | 3,988 | ' |
Gross recoveries | ' | ' | -716 | -860 | ' |
Net charge-offs/(recoveries) | ' | ' | 2,427 | 3,128 | ' |
Provision for loan losses | ' | ' | 1,599 | 579 | ' |
Other | ' | ' | -1 | -3 | ' |
Ending Balance | 15,326 | 19,384 | 15,326 | 19,384 | ' |
Impaired Collateral Dependent Loans [Abstract] | ' | ' | ' | ' | ' |
Asset-specific | 1,319 | 2,168 | 1,319 | 2,168 | ' |
Formula-based | 10,258 | 11,505 | 10,258 | 11,505 | ' |
PCI | 3,749 | 5,711 | 3,749 | 5,711 | ' |
Total Allowance for Credit Losses | 15,326 | 19,384 | 15,326 | 19,384 | ' |
Allowance For Lending Related Commitments | ' | ' | ' | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | ' | ' | 705 | 668 | ' |
Provision for loan losses | ' | ' | -57 | 85 | ' |
Other | ' | ' | 0 | 0 | ' |
Ending Balance | 648 | 753 | 648 | 753 | ' |
Impaired Collateral Dependent Loans [Abstract] | ' | ' | ' | ' | ' |
Total Allowance for Credit Losses | 648 | 753 | 648 | 753 | ' |
Allowance for loan losses by impairment methodology | ' | ' | ' | ' | ' |
Asset-specific | 43 | 79 | 43 | 79 | ' |
Formula-based | 605 | 674 | 605 | 674 | ' |
Purchased Credit-Impaired | Allowance for Loans and Leases Receivable | ' | ' | ' | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' | ' | ' | ' |
Gross charge-offs | ' | ' | 109 | 0 | ' |
Impaired Collateral Dependent Loans | ' | ' | ' | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' | ' | ' | ' |
Net charge-offs/(recoveries) | ' | ' | 76 | 142 | ' |
Loans by impairment methodology | ' | ' | ' | ' | ' |
Loans measured at fair value of collateral less cost to sell | 3,571 | 3,546 | 3,571 | 3,546 | ' |
Consumer, excluding credit card | ' | ' | ' | ' | ' |
Loans by impairment methodology | ' | ' | ' | ' | ' |
Asset-specific | 13,191 | 14,251 | 13,191 | 14,251 | ' |
Formula-based | 224,905 | 216,401 | 224,905 | 216,401 | ' |
PCI | 50,118 | 56,736 | 50,118 | 56,736 | ' |
Total Retained Loans | 288,214 | 287,388 | 288,214 | 287,388 | 288,449 |
Lending-related commitments by impairment methodology | ' | ' | ' | ' | ' |
Asset-specific | 0 | 0 | 0 | 0 | ' |
Formula-based | 56,410 | 62,303 | 56,410 | 62,303 | ' |
Total lending-related commitments | 56,410 | 62,303 | 56,410 | 62,303 | ' |
Consumer, excluding credit card | Allowance for Loans and Leases Receivable | ' | ' | ' | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | ' | ' | 8,456 | 12,292 | ' |
Gross charge-offs | ' | ' | 1,084 | 1,458 | ' |
Gross recoveries | ' | ' | -399 | -394 | ' |
Net charge-offs/(recoveries) | ' | ' | 685 | 1,064 | ' |
Provision for loan losses | ' | ' | 81 | -531 | ' |
Other | ' | ' | 0 | -6 | ' |
Ending Balance | 7,743 | 10,691 | 7,743 | 10,691 | ' |
Impaired Collateral Dependent Loans [Abstract] | ' | ' | ' | ' | ' |
Asset-specific | 598 | 713 | 598 | 713 | ' |
Formula-based | 3,396 | 4,267 | 3,396 | 4,267 | ' |
PCI | 3,749 | 5,711 | 3,749 | 5,711 | ' |
Total Allowance for Credit Losses | 7,743 | 10,691 | 7,743 | 10,691 | ' |
Consumer, excluding credit card | Allowance For Lending Related Commitments | ' | ' | ' | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | ' | ' | 8 | 7 | ' |
Provision for loan losses | ' | ' | 1 | 1 | ' |
Other | ' | ' | 0 | 0 | ' |
Ending Balance | 9 | 8 | 9 | 8 | ' |
Impaired Collateral Dependent Loans [Abstract] | ' | ' | ' | ' | ' |
Total Allowance for Credit Losses | 9 | 8 | 9 | 8 | ' |
Allowance for loan losses by impairment methodology | ' | ' | ' | ' | ' |
Asset-specific | 0 | 0 | 0 | 0 | ' |
Formula-based | 9 | 8 | 9 | 8 | ' |
Consumer, excluding credit card | Purchased Credit-Impaired | ' | ' | ' | ' | ' |
Loans by impairment methodology | ' | ' | ' | ' | ' |
Total Retained Loans | 50,118 | ' | 50,118 | ' | 53,055 |
Consumer, excluding credit card | Purchased Credit-Impaired | Allowance for Loans and Leases Receivable | ' | ' | ' | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' | ' | ' | ' |
Gross charge-offs | ' | ' | 109 | 0 | ' |
Consumer, excluding credit card | Impaired Collateral Dependent Loans | ' | ' | ' | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' | ' | ' | ' |
Net charge-offs/(recoveries) | ' | ' | 81 | 132 | ' |
Loans by impairment methodology | ' | ' | ' | ' | ' |
Loans measured at fair value of collateral less cost to sell | 3,250 | 3,152 | 3,250 | 3,152 | ' |
Credit card | ' | ' | ' | ' | ' |
Loans by impairment methodology | ' | ' | ' | ' | ' |
Asset-specific | 2,467 | 3,857 | 2,467 | 3,857 | ' |
Formula-based | 123,154 | 120,431 | 123,154 | 120,431 | ' |
PCI | 0 | 0 | 0 | 0 | ' |
Total Retained Loans | 125,621 | 124,288 | 125,621 | 124,288 | 127,465 |
Lending-related commitments by impairment methodology | ' | ' | ' | ' | ' |
Asset-specific | 0 | 0 | 0 | 0 | ' |
Formula-based | 533,688 | 532,359 | 533,688 | 532,359 | ' |
Total lending-related commitments | 533,688 | 532,359 | 533,688 | 532,359 | ' |
Credit card | Allowance for Loans and Leases Receivable | ' | ' | ' | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | ' | ' | 3,795 | 5,501 | ' |
Gross charge-offs | ' | ' | 1,982 | 2,414 | ' |
Gross recoveries | ' | ' | -209 | -318 | ' |
Net charge-offs/(recoveries) | ' | ' | 1,773 | 2,096 | ' |
Provision for loan losses | ' | ' | 1,573 | 1,046 | ' |
Other | ' | ' | -1 | -6 | ' |
Ending Balance | 3,594 | 4,445 | 3,594 | 4,445 | ' |
Impaired Collateral Dependent Loans [Abstract] | ' | ' | ' | ' | ' |
Asset-specific | 583 | 1,227 | 583 | 1,227 | ' |
Formula-based | 3,011 | 3,218 | 3,011 | 3,218 | ' |
PCI | 0 | 0 | 0 | 0 | ' |
Total Allowance for Credit Losses | 3,594 | 4,445 | 3,594 | 4,445 | ' |
Credit card | Allowance For Lending Related Commitments | ' | ' | ' | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | ' | ' | 0 | 0 | ' |
Provision for loan losses | ' | ' | 0 | 0 | ' |
Other | ' | ' | 0 | 0 | ' |
Ending Balance | 0 | 0 | 0 | 0 | ' |
Impaired Collateral Dependent Loans [Abstract] | ' | ' | ' | ' | ' |
Total Allowance for Credit Losses | 0 | 0 | 0 | 0 | ' |
Allowance for loan losses by impairment methodology | ' | ' | ' | ' | ' |
Asset-specific | 0 | 0 | 0 | 0 | ' |
Formula-based | 0 | 0 | 0 | 0 | ' |
Credit card | Purchased Credit-Impaired | Allowance for Loans and Leases Receivable | ' | ' | ' | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' | ' | ' | ' |
Gross charge-offs | ' | ' | 0 | 0 | ' |
Credit card | Impaired Collateral Dependent Loans | ' | ' | ' | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' | ' | ' | ' |
Net charge-offs/(recoveries) | ' | ' | 0 | 0 | ' |
Loans by impairment methodology | ' | ' | ' | ' | ' |
Loans measured at fair value of collateral less cost to sell | 0 | 0 | 0 | 0 | ' |
Wholesale | ' | ' | ' | ' | ' |
Loans by impairment methodology | ' | ' | ' | ' | ' |
Asset-specific | 732 | 1,032 | 732 | 1,032 | ' |
Formula-based | 320,797 | 307,164 | 320,797 | 307,164 | ' |
PCI | 5 | 12 | 5 | 12 | ' |
Total Retained Loans | 321,534 | 308,208 | 321,534 | 308,208 | 308,263 |
Lending-related commitments by impairment methodology | ' | ' | ' | ' | ' |
Asset-specific | 122 | 283 | 122 | 283 | ' |
Formula-based | 451,153 | 445,189 | 451,153 | 445,189 | ' |
Total lending-related commitments | 451,275 | 445,472 | 451,275 | 445,472 | ' |
Wholesale | Allowance for Loans and Leases Receivable | ' | ' | ' | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | ' | ' | 4,013 | 4,143 | ' |
Gross charge-offs | ' | ' | 77 | 116 | ' |
Gross recoveries | ' | ' | -108 | -148 | ' |
Net charge-offs/(recoveries) | ' | ' | -31 | -32 | ' |
Provision for loan losses | ' | ' | -55 | 64 | ' |
Other | ' | ' | 0 | 9 | ' |
Ending Balance | 3,989 | 4,248 | 3,989 | 4,248 | ' |
Impaired Collateral Dependent Loans [Abstract] | ' | ' | ' | ' | ' |
Asset-specific | 138 | 228 | 138 | 228 | ' |
Formula-based | 3,851 | 4,020 | 3,851 | 4,020 | ' |
PCI | 0 | 0 | 0 | 0 | ' |
Total Allowance for Credit Losses | 3,989 | 4,248 | 3,989 | 4,248 | ' |
Wholesale | Allowance For Lending Related Commitments | ' | ' | ' | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | ' | ' | 697 | 661 | ' |
Provision for loan losses | ' | ' | -58 | 84 | ' |
Other | ' | ' | 0 | 0 | ' |
Ending Balance | 639 | 745 | 639 | 745 | ' |
Impaired Collateral Dependent Loans [Abstract] | ' | ' | ' | ' | ' |
Total Allowance for Credit Losses | 639 | 745 | 639 | 745 | ' |
Allowance for loan losses by impairment methodology | ' | ' | ' | ' | ' |
Asset-specific | 43 | 79 | 43 | 79 | ' |
Formula-based | 596 | 666 | 596 | 666 | ' |
Wholesale | Purchased Credit-Impaired | Allowance for Loans and Leases Receivable | ' | ' | ' | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' | ' | ' | ' |
Gross charge-offs | ' | ' | 0 | 0 | ' |
Wholesale | Impaired Collateral Dependent Loans | ' | ' | ' | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' | ' | ' | ' |
Net charge-offs/(recoveries) | ' | ' | -5 | 10 | ' |
Loans by impairment methodology | ' | ' | ' | ' | ' |
Loans measured at fair value of collateral less cost to sell | $321 | $394 | $321 | $394 | ' |
Variable_Interest_Entities_Fir
Variable Interest Entities - Firm Sponsored Variable Interest Entities (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Total assets held by securitization VIEs | $258,400,000,000 | $271,700,000,000 |
Firm-sponsored credit card securitization trusts | ' | ' |
Percentage of the Firm's retained securitization interests risk-rated 'A' or better, at fair value | 69.00% | 69.00% |
Corporate & Investment Bank | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Senior securities purchased, excluded from interests continued to be held by transferor, fair value | 105,000,000 | 151,000,000 |
Subordinated securities purchased, excluded from interests continued to be held by transferor, fair value | 55,000,000 | 30,000,000 |
Prime/Alt A and Option Arms | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Total assets held by securitization VIEs | 101,700,000,000 | 109,200,000,000 |
Subprime | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Total assets held by securitization VIEs | 29,800,000,000 | 32,100,000,000 |
Commercial – nonagency | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Total assets held by securitization VIEs | 126,900,000,000 | 130,400,000,000 |
Variable Interest Entity, Primary Beneficiary | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Assets held in consolidated securitization VIEs | 4,500,000,000 | 4,500,000,000 |
Variable Interest Entity, Primary Beneficiary | Prime/Alt A and Option Arms | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Assets held in consolidated securitization VIEs | 2,400,000,000 | 3,200,000,000 |
Variable Interest Entity, Primary Beneficiary | Subprime | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Assets held in consolidated securitization VIEs | 1,900,000,000 | 1,300,000,000 |
Variable Interest Entity, Primary Beneficiary | Commercial – nonagency | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Assets held in consolidated securitization VIEs | 200,000,000 | 0 |
Variable Interest Entity, Not Primary Beneficiary | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Assets held in nonconsolidated securitization VIEs with continuing involvement | 205,383,000,000 | 216,407,000,000 |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 4,600,000,000 | 4,900,000,000 |
Variable Interest Entity, Not Primary Beneficiary | Trading assets | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 1,000,000,000 | 1,100,000,000 |
Variable Interest Entity, Not Primary Beneficiary | Total available-for-sale securities | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 3,600,000,000 | 3,800,000,000 |
Variable Interest Entity, Not Primary Beneficiary | Prime/Alt A and Option Arms | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Assets held in nonconsolidated securitization VIEs with continuing involvement | 85,193,000,000 | 90,381,000,000 |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 700,000,000 | 800,000,000 |
Variable Interest Entity, Not Primary Beneficiary | Prime/Alt A and Option Arms | Trading assets | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 400,000,000 | 500,000,000 |
Variable Interest Entity, Not Primary Beneficiary | Prime/Alt A and Option Arms | Total available-for-sale securities | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 300,000,000 | 300,000,000 |
Variable Interest Entity, Not Primary Beneficiary | Subprime | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Assets held in nonconsolidated securitization VIEs with continuing involvement | 25,998,000,000 | 28,008,000,000 |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 100,000,000 | 100,000,000 |
Variable Interest Entity, Not Primary Beneficiary | Subprime | Trading assets | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 100,000,000 | 100,000,000 |
Variable Interest Entity, Not Primary Beneficiary | Subprime | Total available-for-sale securities | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 0 | 0 |
Variable Interest Entity, Not Primary Beneficiary | Commercial – nonagency | ' | ' |
Firm-sponsored mortgage and other consumer securitization trusts | ' | ' |
Assets held in nonconsolidated securitization VIEs with continuing involvement | 94,192,000,000 | 98,018,000,000 |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 3,800,000,000 | 4,000,000,000 |
Variable Interest Entity, Not Primary Beneficiary | Commercial – nonagency | Trading assets | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 500,000,000 | 500,000,000 |
Variable Interest Entity, Not Primary Beneficiary | Commercial – nonagency | Total available-for-sale securities | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Interest in sponsored credit card securitization trusts | 3,300,000,000 | 3,500,000,000 |
Investment-grade | Prime/Alt A and Option Arms | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Retained interest, fair value | 437,000,000 | 551,000,000 |
Investment-grade | Commercial – nonagency | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Retained interest, fair value | 3,600,000,000 | 3,900,000,000 |
Noninvestment-grade | Prime/Alt A and Option Arms | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Retained interest, fair value | 238,000,000 | 260,000,000 |
Noninvestment-grade | Commercial – nonagency | ' | ' |
Firm-sponsored credit card securitization trusts | ' | ' |
Retained interest, fair value | $124,000,000 | $80,000,000 |
Variable_Interest_Entities_Res
Variable Interest Entities - Resecuritizations, Multi-seller Conduits (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | ||||
Variable Interest Entity | ' | ' | ' | ' | ' | |||
Securities transferred to agency resecuritization VIEs | $8,000,000,000 | $2,900,000,000 | $13,300,000,000 | $7,100,000,000 | ' | |||
Securities transferred to private-label re-securitization VIEs | 264,000,000 | 0 | 433,000,000 | 0 | ' | |||
Total assets | 2,520,336,000,000 | [1] | 2,439,494,000,000 | 2,520,336,000,000 | [1] | 2,439,494,000,000 | 2,415,689,000,000 | [1] |
Unfunded portion of commitments to multi-seller conduits | 1,041,373,000,000 | 1,040,134,000,000 | 1,041,373,000,000 | 1,040,134,000,000 | 1,031,672,000,000 | |||
Mortgage Securitization Entities | Re securitizations | ' | ' | ' | ' | ' | |||
Variable Interest Entity | ' | ' | ' | ' | ' | |||
Senior and subordinated interest in nonconsolidated agency re-securitization entities | 2,300,000,000 | ' | 2,300,000,000 | ' | 1,300,000,000 | |||
Mortgage Securitization Entities | Re securitizations | Private label Resecuritizations | ' | ' | ' | ' | ' | |||
Variable Interest Entity | ' | ' | ' | ' | ' | |||
Senior and subordinated interest in nonconsolidated agency re-securitization entities | 37,000,000 | ' | 37,000,000 | ' | 6,000,000 | |||
Mortgage Securitization Entities | Re securitizations | Mortgage-backed securities - Residential – nonagency | Private label Resecuritizations | ' | ' | ' | ' | ' | |||
Variable Interest Entity | ' | ' | ' | ' | ' | |||
VIE, consolidated carrying amount assets | 83,000,000 | ' | 83,000,000 | ' | 86,000,000 | |||
VIE, carrying amount liabilities | 22,000,000 | ' | 22,000,000 | ' | 23,000,000 | |||
Multi-seller conduits | ' | ' | ' | ' | ' | |||
Variable Interest Entity | ' | ' | ' | ' | ' | |||
Commercial paper issued by consolidated Variable Interest Entities eliminated in Consolidation | 7,400,000,000 | ' | 7,400,000,000 | ' | 4,100,000,000 | |||
Multi-seller conduits | Commercial | ' | ' | ' | ' | ' | |||
Variable Interest Entity | ' | ' | ' | ' | ' | |||
Unfunded portion of commitments to multi-seller conduits | 9,200,000,000 | ' | 9,200,000,000 | ' | 9,100,000,000 | |||
Nonconsolidated Private-Label Re-securitizations | ' | ' | ' | ' | ' | |||
Variable Interest Entity | ' | ' | ' | ' | ' | |||
Total assets | $3,000,000,000 | ' | $3,000,000,000 | ' | $2,800,000,000 | |||
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at June 30, 2014, and December 31, 2013. The difference between total VIE assets and liabilities represents the Firm’s interests in those entities, which were eliminated in consolidation.(in millions)Jun 30, 2014 Dec 31, 2013Assets Trading assets$6,006 $6,366Loans64,598 70,072All other assets2,048 2,168Total assets$72,652 $78,606Liabilities Beneficial interests issued by consolidated variable interest entities$45,723 $49,617All other liabilities1,027 1,061Total liabilities$46,750 $50,678The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests do not have recourse to the general credit of JPMorgan Chase. At both June 30, 2014, and December 31, 2013, the Firm provided limited program-wide credit enhancement of $2.6 billion related to its Firm-administered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 15. |
Variable_Interest_Entities_Mun
Variable Interest Entities - Municipal Bond Vehicle VIEs (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | ||
Nonconsolidated Municipal Bond Vehicles | Nonconsolidated Municipal Bond Vehicles | Nonconsolidated Municipal Bond Vehicles | Nonconsolidated Municipal Bond Vehicles | Nonconsolidated Municipal Bond Vehicles | Nonconsolidated Municipal Bond Vehicles | Nonconsolidated Municipal Bond Vehicles | Nonconsolidated Municipal Bond Vehicles | Nonconsolidated Municipal Bond Vehicles | Nonconsolidated Municipal Bond Vehicles | Nonconsolidated Municipal Bond Vehicles | Nonconsolidated Municipal Bond Vehicles | JPMorgan Chase & Co | JPMorgan Chase & Co | ||||||
Municipal Bonds | Municipal Bonds | AAA to AAA- | AAA to AAA- | AA to AA- | AA to AA- | A to A- | A to A- | BBB to BBB- | BBB to BBB- | Noninvestment-grade BB plus and below | Noninvestment-grade BB plus and below | Municipal Bonds | Municipal Bonds | ||||||
Municipal Bonds | Municipal Bonds | Municipal Bonds | Municipal Bonds | Municipal Bonds | Municipal Bonds | Municipal Bonds | Municipal Bonds | Municipal Bonds | Municipal Bonds | ||||||||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Fair value of non-consolidated assets held by VIEs | $2,520,336,000,000 | [1] | $2,415,689,000,000 | [1] | $2,439,494,000,000 | $11,500,000,000 | $11,800,000,000 | $2,700,000,000 | $2,700,000,000 | $8,600,000,000 | $8,900,000,000 | $200,000,000 | $200,000,000 | $0 | $0 | $0 | $0 | ' | ' |
Liquidity facilities provided by Firm serving as liquidity provider | ' | ' | ' | 6,400,000,000 | 6,900,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Excess/ (deficit) | ' | ' | ' | 5,100,000,000 | 4,900,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Maximum exposure | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6,400,000,000 | $6,900,000,000 | ||
VIE weighted average expected life of assets | ' | ' | ' | '5 years 1 month 6 days | '7 years 2 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at June 30, 2014, and December 31, 2013. The difference between total VIE assets and liabilities represents the Firm’s interests in those entities, which were eliminated in consolidation.(in millions)Jun 30, 2014 Dec 31, 2013Assets Trading assets$6,006 $6,366Loans64,598 70,072All other assets2,048 2,168Total assets$72,652 $78,606Liabilities Beneficial interests issued by consolidated variable interest entities$45,723 $49,617All other liabilities1,027 1,061Total liabilities$46,750 $50,678The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests do not have recourse to the general credit of JPMorgan Chase. At both June 30, 2014, and December 31, 2013, the Firm provided limited program-wide credit enhancement of $2.6 billion related to its Firm-administered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 15. |
Variable_Interest_Entities_Con
Variable Interest Entities - Consolidated VIE Assets and Liabilities (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | ||
In Millions, unless otherwise specified | |||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' | ||
Trading assets | $392,543 | $374,664 | ' | ||
Loans | 746,983 | 738,418 | ' | ||
Other assets, at fair value | 100,562 | 110,101 | ' | ||
Total assets | 2,520,336 | [1] | 2,415,689 | [1] | 2,439,494 |
Beneficial interests issued by consolidated VIEs | 45,723 | 49,617 | ' | ||
Total liabilities | 2,293,022 | [1] | 2,204,511 | [1] | ' |
Variable Interest Entity, Primary Beneficiary | ' | ' | ' | ||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' | ||
Loans | 64,600 | 70,100 | ' | ||
Other assets, at fair value | 2,000 | 2,200 | ' | ||
Total assets | 72,600 | 78,700 | ' | ||
Beneficial interests issued by consolidated VIEs | 45,700 | 49,600 | ' | ||
Other liabilities | 1,000 | 1,100 | ' | ||
Total liabilities | 46,700 | 50,700 | ' | ||
Variable Interest Entity, Primary Beneficiary | Long Term Beneficial Interests | ' | ' | ' | ||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' | ||
Beneficial interests issued by consolidated VIEs | 33,600 | 31,800 | ' | ||
Variable Interest Entity, Primary Beneficiary | Long Term Beneficial Interests Maturities Under One Year | ' | ' | ' | ||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' | ||
Beneficial interests issued by consolidated VIEs | 6,500 | ' | ' | ||
Variable Interest Entity, Primary Beneficiary | Long Term Beneficial Interests Maturities Between One And Five Years | ' | ' | ' | ||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' | ||
Beneficial interests issued by consolidated VIEs | 19,100 | ' | ' | ||
Variable Interest Entity, Primary Beneficiary | Long Term Beneficial Interests Maturities Over Five Years | ' | ' | ' | ||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' | ||
Beneficial interests issued by consolidated VIEs | 8,000 | ' | ' | ||
Variable Interest Entity, Primary Beneficiary | Student Loans | ' | ' | ' | ||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' | ||
VIE, consolidated carrying amount assets | 2,500 | 2,500 | ' | ||
Variable Interest Entity, Primary Beneficiary | Debt and equity securities | ' | ' | ' | ||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' | ||
Trading assets | 6,000 | 6,400 | ' | ||
Variable Interest Entity, Primary Beneficiary | Firm-sponsored credit card trusts | ' | ' | ' | ||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' | ||
Loans | 43,700 | 46,900 | ' | ||
Other assets, at fair value | 700 | 1,100 | ' | ||
Total assets | 44,400 | 48,000 | ' | ||
Beneficial interests issued by consolidated VIEs | 28,400 | 26,600 | ' | ||
Other liabilities | 0 | 0 | ' | ||
Total liabilities | 28,400 | 26,600 | ' | ||
Variable Interest Entity, Primary Beneficiary | Firm-sponsored credit card trusts | Debt and equity securities | ' | ' | ' | ||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' | ||
Trading assets | 0 | 0 | ' | ||
Variable Interest Entity, Primary Beneficiary | Firm-administered multi-seller conduits | ' | ' | ' | ||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' | ||
Loans | 17,000 | 19,000 | ' | ||
Other assets, at fair value | 200 | 100 | ' | ||
Total assets | 17,200 | 19,100 | ' | ||
Beneficial interests issued by consolidated VIEs | 9,600 | 14,900 | ' | ||
Other liabilities | 0 | 0 | ' | ||
Total liabilities | 9,600 | 14,900 | ' | ||
Variable Interest Entity, Primary Beneficiary | Firm-administered multi-seller conduits | Debt and equity securities | ' | ' | ' | ||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' | ||
Trading assets | 0 | 0 | ' | ||
Variable Interest Entity, Primary Beneficiary | Municipal bonds vehicles | ' | ' | ' | ||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' | ||
Loans | 0 | 0 | ' | ||
Other assets, at fair value | 0 | 0 | ' | ||
Total assets | 3,000 | 3,400 | ' | ||
Beneficial interests issued by consolidated VIEs | 2,500 | 2,900 | ' | ||
Other liabilities | 0 | 0 | ' | ||
Total liabilities | 2,500 | 2,900 | ' | ||
Variable Interest Entity, Primary Beneficiary | Municipal bonds vehicles | Debt and equity securities | ' | ' | ' | ||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' | ||
Trading assets | 3,000 | 3,400 | ' | ||
Variable Interest Entity, Primary Beneficiary | Mortgage securitization entities | ' | ' | ' | ||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' | ||
Loans | 1,600 | 1,700 | ' | ||
Other assets, at fair value | 0 | 0 | ' | ||
Total assets | 3,900 | 4,000 | ' | ||
Beneficial interests issued by consolidated VIEs | 2,900 | 2,900 | ' | ||
Other liabilities | 800 | 900 | ' | ||
Total liabilities | 3,700 | 3,800 | ' | ||
Variable Interest Entity, Primary Beneficiary | Mortgage securitization entities | Debt and equity securities | ' | ' | ' | ||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' | ||
Trading assets | 2,300 | 2,300 | ' | ||
Variable Interest Entity, Primary Beneficiary | Other | ' | ' | ' | ||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' | ||
Loans | 2,300 | 2,500 | ' | ||
Other assets, at fair value | 1,100 | 1,000 | ' | ||
Total assets | 4,100 | 4,200 | ' | ||
Beneficial interests issued by consolidated VIEs | 2,300 | 2,300 | ' | ||
Other liabilities | 200 | 200 | ' | ||
Total liabilities | 2,500 | 2,500 | ' | ||
Variable Interest Entity, Primary Beneficiary | Other | Debt and equity securities | ' | ' | ' | ||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ' | ' | ' | ||
Trading assets | $700 | $700 | ' | ||
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at June 30, 2014, and December 31, 2013. The difference between total VIE assets and liabilities represents the Firm’s interests in those entities, which were eliminated in consolidation.(in millions)Jun 30, 2014 Dec 31, 2013Assets Trading assets$6,006 $6,366Loans64,598 70,072All other assets2,048 2,168Total assets$72,652 $78,606Liabilities Beneficial interests issued by consolidated variable interest entities$45,723 $49,617All other liabilities1,027 1,061Total liabilities$46,750 $50,678The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests do not have recourse to the general credit of JPMorgan Chase. At both June 30, 2014, and December 31, 2013, the Firm provided limited program-wide credit enhancement of $2.6 billion related to its Firm-administered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 15. |
Variable_Interest_Entities_Sec
Variable Interest Entities - Securitization Activity (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Variable Interest Entity (VIE) or Potential VIE, Information Unavailability | Commercial | ' | ' | ' | ' |
Securitization activity [Abstract] | ' | ' | ' | ' |
Principal securitized | $2,612,000,000 | $3,078,000,000 | $4,639,000,000 | $5,284,000,000 |
All cash flows during the period: | ' | ' | ' | ' |
Proceeds from new securitizations | 2,664,000,000 | 3,149,000,000 | 4,708,000,000 | 5,426,000,000 |
Servicing fees collected | 1,000,000 | 2,000,000 | 2,000,000 | 3,000,000 |
Purchases of previously transferred financial assets (or the underlying collateral) | 0 | 0 | 0 | 0 |
Cash flows received on interests | 397,000,000 | 78,000,000 | 459,000,000 | 142,000,000 |
Variable Interest Entity (VIE) or Potential VIE, Information Unavailability | Residential and commercial mortgage securitizations | ' | ' | ' | ' |
Securitization activity [Abstract] | ' | ' | ' | ' |
Principal securitized | 304,000,000 | 443,000,000 | 660,000,000 | 1,059,000,000 |
All cash flows during the period: | ' | ' | ' | ' |
Proceeds from new securitizations | 312,000,000 | 446,000,000 | 663,000,000 | 1,080,000,000 |
Servicing fees collected | 137,000,000 | 158,000,000 | 276,000,000 | 285,000,000 |
Purchases of previously transferred financial assets (or the underlying collateral) | 64,000,000 | 19,000,000 | 67,000,000 | 271,000,000 |
Cash flows received on interests | 41,000,000 | 30,000,000 | 85,000,000 | 55,000,000 |
Level 2 | Total mortgage-backed securities | ' | ' | ' | ' |
All cash flows during the period: | ' | ' | ' | ' |
Proceeds from new securitizations | 2,300,000,000 | 3,100,000,000 | 4,300,000,000 | 5,200,000,000 |
Level 2 | Residential and commercial mortgage securitizations | ' | ' | ' | ' |
All cash flows during the period: | ' | ' | ' | ' |
Proceeds from new securitizations | 312,000,000 | 446,000,000 | 642,000,000 | 1,100,000,000 |
Level 3 | Commercial | ' | ' | ' | ' |
All cash flows during the period: | ' | ' | ' | ' |
Proceeds from new securitizations | 130,000,000 | ' | 130,000,000 | ' |
Level 3 | Residential and commercial mortgage securitizations | ' | ' | ' | ' |
All cash flows during the period: | ' | ' | ' | ' |
Proceeds from new securitizations | 0 | ' | 21,000,000 | ' |
Cash | Commercial | ' | ' | ' | ' |
All cash flows during the period: | ' | ' | ' | ' |
Proceeds from new securitizations | $280,000,000 | $0 | $280,000,000 | $207,000,000 |
Variable_Interest_Entities_Loa
Variable Interest Entities - Loans Sold to Third-Party Sponsored Securitization Entities (Details) (Variable Interest Entity, Not Primary Beneficiary, USD $) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Variable Interest Entity, Not Primary Beneficiary | ' | ' | ' | ' | ' |
Summary of loan sale activities [Abstract] | ' | ' | ' | ' | ' |
Carrying value of loans sold | $12,603,000,000 | $48,045,000,000 | $26,523,000,000 | $102,925,000,000 | ' |
Proceeds received from loan sales as cash | 50,000,000 | 295,000,000 | 89,000,000 | 461,000,000 | ' |
Proceeds from loans sales as securities | 12,461,000,000 | 47,223,000,000 | 26,196,000,000 | 101,392,000,000 | ' |
Total proceeds received from loan sales | 12,511,000,000 | 47,518,000,000 | 26,285,000,000 | 101,853,000,000 | ' |
Gains on loan sales | 82,000,000 | 112,000,000 | 119,000,000 | 250,000,000 | ' |
Loans repurchased or loans with the option to repurchase | 14,300,000,000 | ' | 14,300,000,000 | ' | 14,300,000,000 |
Real estate acquired through foreclosure | $2,100,000,000 | ' | $2,100,000,000 | ' | $2,000,000,000 |
Variable_Interest_Entities_Loa1
Variable Interest Entities - Loan Delinquencies and Net Charge-offs (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' | ' | ' | ' |
Total assets held by securitization VIEs | $258,400,000,000 | ' | $258,400,000,000 | ' | $271,700,000,000 |
Prime/Alt A and Option Arms | ' | ' | ' | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' | ' | ' | ' |
Total assets held by securitization VIEs | 101,700,000,000 | ' | 101,700,000,000 | ' | 109,200,000,000 |
Subprime | ' | ' | ' | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' | ' | ' | ' |
Total assets held by securitization VIEs | 29,800,000,000 | ' | 29,800,000,000 | ' | 32,100,000,000 |
Commercial – nonagency | ' | ' | ' | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' | ' | ' | ' |
Total assets held by securitization VIEs | 126,900,000,000 | ' | 126,900,000,000 | ' | 130,400,000,000 |
Securitized loans | ' | ' | ' | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' | ' | ' | ' |
90 days past due | 21,118,000,000 | ' | 21,118,000,000 | ' | 24,958,000,000 |
Liquidation Losses | 1,470,000,000 | 2,250,000,000 | 3,102,000,000 | 4,828,000,000 | ' |
Securitized loans in which the firm has no continuing involvement | 48,500,000,000 | ' | 48,500,000,000 | ' | 50,800,000,000 |
Securitized loans | Prime/Alt A and Option Arms | ' | ' | ' | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' | ' | ' | ' |
90 days past due | 13,158,000,000 | ' | 13,158,000,000 | ' | 14,882,000,000 |
Liquidation Losses | 598,000,000 | 1,310,000,000 | 1,257,000,000 | 2,959,000,000 | ' |
Securitized loans | Subprime | ' | ' | ' | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' | ' | ' | ' |
90 days past due | 6,762,000,000 | ' | 6,762,000,000 | ' | 7,726,000,000 |
Liquidation Losses | 464,000,000 | 756,000,000 | 1,203,000,000 | 1,539,000,000 | ' |
Securitized loans | Commercial – nonagency | ' | ' | ' | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' | ' | ' | ' |
90 days past due | 1,198,000,000 | ' | 1,198,000,000 | ' | 2,350,000,000 |
Liquidation Losses | 408,000,000 | 184,000,000 | 642,000,000 | 330,000,000 | ' |
Variable Interest Entity, Not Primary Beneficiary | ' | ' | ' | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' | ' | ' | ' |
Credit exposure / loans securitized | 205,383,000,000 | ' | 205,383,000,000 | ' | 216,407,000,000 |
Variable Interest Entity, Not Primary Beneficiary | Prime/Alt A and Option Arms | ' | ' | ' | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' | ' | ' | ' |
Credit exposure / loans securitized | 85,193,000,000 | ' | 85,193,000,000 | ' | 90,381,000,000 |
Variable Interest Entity, Not Primary Beneficiary | Subprime | ' | ' | ' | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' | ' | ' | ' |
Credit exposure / loans securitized | 25,998,000,000 | ' | 25,998,000,000 | ' | 28,008,000,000 |
Variable Interest Entity, Not Primary Beneficiary | Commercial – nonagency | ' | ' | ' | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' | ' | ' | ' |
Credit exposure / loans securitized | 94,192,000,000 | ' | 94,192,000,000 | ' | 98,018,000,000 |
Variable Interest Entity, Primary Beneficiary | ' | ' | ' | ' | ' |
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 | ' | 4,500,000,000 | ' | 4,500,000,000 |
Variable Interest Entity, Primary Beneficiary | Prime/Alt A and Option Arms | ' | ' | ' | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' | ' | ' | ' |
Assets held in consolidated securitization VIEs | 2,400,000,000 | ' | 2,400,000,000 | ' | 3,200,000,000 |
Variable Interest Entity, Primary Beneficiary | Subprime | ' | ' | ' | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' | ' | ' | ' |
Assets held in consolidated securitization VIEs | 1,900,000,000 | ' | 1,900,000,000 | ' | 1,300,000,000 |
Variable Interest Entity, Primary Beneficiary | Commercial – nonagency | ' | ' | ' | ' | ' |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | ' | ' | ' | ' | ' |
Assets held in consolidated securitization VIEs | $200,000,000 | ' | $200,000,000 | ' | $0 |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||||||
Intangible Assets By Major Class [Line Items] | ' | ' | ' | ' | ' | ' |
Goodwill | $48,110 | $48,065 | $48,081 | $48,057 | $48,067 | $48,175 |
Mortgage servicing rights | 8,347 | 8,552 | 9,614 | 9,335 | 7,949 | 7,614 |
Other intangible assets: | ' | ' | ' | ' | ' | ' |
Other intangible assets | 1,339 | ' | 1,618 | ' | ' | ' |
Purchased credit card relationships | ' | ' | ' | ' | ' | ' |
Other intangible assets: | ' | ' | ' | ' | ' | ' |
Other intangible assets | 41 | ' | 131 | ' | ' | ' |
Other credit card-related intangibles | ' | ' | ' | ' | ' | ' |
Other intangible assets: | ' | ' | ' | ' | ' | ' |
Other intangible assets | 146 | ' | 173 | ' | ' | ' |
Core deposit intangibles | ' | ' | ' | ' | ' | ' |
Other intangible assets: | ' | ' | ' | ' | ' | ' |
Other intangible assets | 74 | ' | 159 | ' | ' | ' |
Other intangibles | ' | ' | ' | ' | ' | ' |
Other intangible assets: | ' | ' | ' | ' | ' | ' |
Other intangible assets | $1,078 | ' | $1,155 | ' | ' | ' |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets - by Business Segment (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||||||
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' |
Total goodwill | $48,110 | $48,065 | $48,081 | $48,057 | $48,067 | $48,175 |
Consumer & Community Banking | ' | ' | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' |
Total goodwill | 30,999 | ' | 30,985 | ' | ' | ' |
Corporate & Investment Bank | ' | ' | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' |
Total goodwill | 6,893 | ' | 6,888 | ' | ' | ' |
Commercial Banking | ' | ' | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' |
Total goodwill | 2,862 | ' | 2,862 | ' | ' | ' |
Asset Management | ' | ' | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' |
Total goodwill | 6,979 | ' | 6,969 | ' | ' | ' |
Corporate/Private Equity | ' | ' | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' |
Total goodwill | $377 | ' | $377 | ' | ' | ' |
Goodwill_and_Other_Intangible_5
Goodwill and Other Intangible Assets - Changes During Period (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Changes in the carrying amount of goodwill: | ' | ' | ' | ' |
Balance at beginning of period | $48,065 | $48,067 | $48,081 | $48,175 |
Changes during the period: | ' | ' | ' | ' |
Business combinations | 9 | 11 | 18 | 36 |
Dispositions | 0 | -5 | 0 | -5 |
Other | 36 | -16 | 11 | -149 |
Balance at end of period | $48,110 | $48,057 | $48,110 | $48,057 |
Goodwill_and_Other_Intangible_6
Goodwill and Other Intangible Assets - Mortgage Servicing Rights (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Mortgage servicing rights activity: | ' | ' | ' | ' |
Fair value at beginning of period | $8,552,000,000 | $7,949,000,000 | $9,614,000,000 | $7,614,000,000 |
MSR activity: | ' | ' | ' | ' |
Originations of MSRs | 178,000,000 | 652,000,000 | 370,000,000 | 1,342,000,000 |
Purchase of MSRs | 3,000,000 | 3,000,000 | 6,000,000 | -3,000,000 |
Disposition of MSRs | 2,000,000 | -19,000,000 | -186,000,000 | -418,000,000 |
Net additions | 183,000,000 | 636,000,000 | 190,000,000 | 921,000,000 |
Changes due to collection/realization of expected cash flows | -239,000,000 | -288,000,000 | -486,000,000 | -547,000,000 |
Changes due to market interest rates and other | -369,000,000 | 1,074,000,000 | -731,000,000 | 1,620,000,000 |
Changes in valuation due to inputs and assumptions, projected cash flows | 0 | 0 | -11,000,000 | 290,000,000 |
Changes in valuation due to inputs and assumptions, discount rates | -10,000,000 | 0 | -459,000,000 | -78,000,000 |
Changes in valuation due to inputs and assumptions, prepayment model changes and other | 230,000,000 | -36,000,000 | 230,000,000 | -485,000,000 |
Total changes in valuation due to other inputs and assumptions | 220,000,000 | -36,000,000 | -240,000,000 | -273,000,000 |
Total changes in valuation due to inputs and assumptions | -149,000,000 | 1,038,000,000 | -971,000,000 | 1,347,000,000 |
Fair value at the end of the period | 8,347,000,000 | 9,335,000,000 | 8,347,000,000 | 9,335,000,000 |
Change in unrealized gains/(losses) included in income related to MSRs held at June 30, | -149,000,000 | 1,038,000,000 | -971,000,000 | 1,347,000,000 |
Contractual service fees, late fees and other ancillary fees included in income | 731,000,000 | 835,000,000 | 1,488,000,000 | 1,704,000,000 |
Third-party mortgage loans serviced at June 30, (in billions) | 791,000,000,000 | 839,000,000,000 | 791,000,000,000 | 839,000,000,000 |
Servicer advances (in billions) | 8,800,000,000 | 10,100,000,000 | 8,800,000,000 | 10,100,000,000 |
MSR activity supplemental information | ' | ' | ' | ' |
Commercial Real Estate, Fair Value, Period Increase (Decrease) | -2,000,000 | ' | -4,000,000 | -2,000,000 |
Commercial Real Estate, Fair Value | $14,000,000 | $21,000,000 | $14,000,000 | $21,000,000 |
Goodwill_and_Other_Intangible_7
Goodwill and Other Intangible Assets - Mortgage Fees and Related Income (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Risk management: | ' | ' | ' | ' |
All other | $1 | $4 | $1 | $6 |
Mortgage fees and related income | 1,291 | 1,823 | 1,805 | 3,275 |
Consumer & Community Banking | ' | ' | ' | ' |
Net production revenue: | ' | ' | ' | ' |
Production revenue | 186 | 1,064 | 347 | 2,059 |
Repurchase Losses | 137 | 16 | 265 | -65 |
Net production revenue | 323 | 1,080 | 612 | 1,994 |
Operating revenue: | ' | ' | ' | ' |
Loan servicing revenue | 867 | 945 | 1,737 | 1,881 |
Changes in MSR asset fair value due to modeled amortization | -237 | -285 | -482 | -543 |
Total operating revenue | 630 | 660 | 1,255 | 1,338 |
Risk management: | ' | ' | ' | ' |
Changes in MSR asset fair value due to market interest rates | -368 | 1,072 | -730 | 1,618 |
Other changes in MSR asset fair value due to inputs or assumptions in model | 220 | -36 | -240 | -273 |
Change in derivative fair value and other | 485 | -957 | 907 | -1,408 |
Total risk management | 337 | 79 | -63 | -63 |
Net mortgage servicing revenue | $967 | $739 | $1,192 | $1,275 |
Goodwill_and_Other_Intangible_8
Goodwill and Other Intangible Assets - Key Economic Assumptions (Details) (USD $) | 6 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Key economic assumptions used to determine the fair value of the Firm's Mortgage Servicing Rights (MSRs) [Abstract] | ' | ' |
Weighted-average prepayment speed assumption (“CPRâ€) | 8.56% | 8.07% |
Impact on fair value of 10% adverse change | ($363) | ($362) |
Impact on fair value of 20% adverse change | -704 | -705 |
Weighted-average option adjusted spread | 9.14% | 7.77% |
Impact on fair value of 100 basis points adverse change | -343 | -389 |
Impact on fair value of 200 basis points adverse change | ($660) | ($750) |
Goodwill_and_Other_Intangible_9
Goodwill and Other Intangible Assets - Other Intangible Assets (Details) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Intangible Assets By Major Class [Line Items] | ' | ' |
Change in other intangible assets | ($279) | ' |
Components of credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' |
Net carrying value | 1,339 | 1,618 |
Indefinite-lived intangible assets | 600 | ' |
Purchased credit card relationships | ' | ' |
Components of credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' |
Gross amount | 3,540 | 3,540 |
Accumulated amortization | 3,499 | 3,409 |
Net carrying value | 41 | 131 |
Other credit card-related intangibles | ' | ' |
Components of credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' |
Gross amount | 542 | 542 |
Accumulated amortization | 396 | 369 |
Net carrying value | 146 | 173 |
Core deposit intangibles | ' | ' |
Components of credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' |
Gross amount | 4,131 | 4,133 |
Accumulated amortization | 4,057 | 3,974 |
Net carrying value | 74 | 159 |
Other intangibles | ' | ' |
Components of credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' |
Gross amount | 2,257 | 2,374 |
Accumulated amortization | 1,179 | 1,219 |
Net carrying value | $1,078 | $1,155 |
Recovered_Sheet4
Goodwill and Other Intangible Assets - Amortization Expense (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' | ' |
Amortization expense | $132 | $152 | $263 | $304 |
Purchased credit card relationships | ' | ' | ' | ' |
Amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' | ' |
Amortization expense | 45 | 52 | 90 | 105 |
Other credit card-related intangibles | ' | ' | ' | ' |
Amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' | ' |
Amortization expense | 14 | 15 | 27 | 29 |
Core deposit intangibles | ' | ' | ' | ' |
Amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' | ' |
Amortization expense | 42 | 50 | 85 | 100 |
Other intangibles | ' | ' | ' | ' |
Amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' | ' |
Amortization expense | $31 | $35 | $61 | $70 |
Recovered_Sheet5
Goodwill and Other Intangible Assets - Future Amortization Expense (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Estimated future amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' | ' |
2014 | $360 | ' | $360 | ' |
2015 | 170 | ' | 170 | ' |
2016 | 132 | ' | 132 | ' |
2017 | 100 | ' | 100 | ' |
2018 | 81 | ' | 81 | ' |
Amortization of Intangible Assets | 132 | 152 | 263 | 304 |
Purchased credit card relationships | ' | ' | ' | ' |
Estimated future amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' | ' |
2014 | 96 | ' | 96 | ' |
2015 | 12 | ' | 12 | ' |
2016 | 9 | ' | 9 | ' |
2017 | 5 | ' | 5 | ' |
2018 | 3 | ' | 3 | ' |
Amortization of Intangible Assets | 45 | 52 | 90 | 105 |
Other credit card-related intangibles | ' | ' | ' | ' |
Estimated future amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' | ' |
2014 | 51 | ' | 51 | ' |
2015 | 39 | ' | 39 | ' |
2016 | 34 | ' | 34 | ' |
2017 | 29 | ' | 29 | ' |
2018 | 20 | ' | 20 | ' |
Amortization of Intangible Assets | 14 | 15 | 27 | 29 |
Core deposit intangibles | ' | ' | ' | ' |
Estimated future amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' | ' |
2014 | 102 | ' | 102 | ' |
2015 | 26 | ' | 26 | ' |
2016 | 14 | ' | 14 | ' |
2017 | 7 | ' | 7 | ' |
2018 | 5 | ' | 5 | ' |
Amortization of Intangible Assets | 42 | 50 | 85 | 100 |
Other intangibles | ' | ' | ' | ' |
Estimated future amortization expense related to credit card relationships, core deposits and other intangible assets [Abstract] | ' | ' | ' | ' |
2014 | 111 | ' | 111 | ' |
2015 | 93 | ' | 93 | ' |
2016 | 75 | ' | 75 | ' |
2017 | 59 | ' | 59 | ' |
2018 | 53 | ' | 53 | ' |
Amortization of Intangible Assets | $31 | $35 | $61 | $70 |
Deposits_Noninterest_and_Inter
Deposits - Noninterest and Interest-bearing (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
U.S. offices: | ' | ' |
Noninterest-bearing | $417,607 | $389,863 |
Interest-bearing: | ' | ' |
Demand | 81,449 | 84,631 |
Savings | 457,111 | 450,405 |
Time (included $6,856 and $5,995 at fair value) | 85,221 | 91,356 |
Total interest-bearing deposits | 623,781 | 626,392 |
Total deposits in U.S. offices | 1,041,388 | 1,016,255 |
Non-U.S. offices | ' | ' |
Noninterest-bearing | 17,757 | 17,611 |
Interest-bearing: | ' | ' |
Demand | 219,911 | 214,391 |
Savings | 1,687 | 1,083 |
Time (included $1066 and $629 at fair value) | 39,008 | 38,425 |
Total interest-bearing deposits | 260,606 | 253,899 |
Total deposits in non-U.S. offices | 278,363 | 271,510 |
Total deposits | 1,319,751 | 1,287,765 |
Fair Value | ' | ' |
Interest-bearing: | ' | ' |
Time (included $6,856 and $5,995 at fair value) | 6,856 | 5,995 |
Interest-bearing: | ' | ' |
Time (included $1066 and $629 at fair value) | $1,066 | $629 |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Basic earnings per share | ' | ' | ' | ' |
Net income | $5,985 | $6,496 | $11,259 | $13,025 |
Less: Preferred stock dividends | 268 | 204 | 495 | 386 |
Net income applicable to common equity | 5,717 | 6,292 | 10,764 | 12,639 |
Less: Dividends and undistributed earnings allocated to participating securities | 144 | 191 | 294 | 407 |
Net income applicable to common stockholders | 5,573 | 6,101 | 10,470 | 12,232 |
Total weighted-average basic shares outstanding | 3,780.60 | 3,782.40 | 3,783.90 | 3,800.30 |
Net income per share | $1.47 | $1.61 | $2.77 | $3.22 |
Diluted earnings per share | ' | ' | ' | ' |
Net income applicable to common stockholders | $5,573 | $6,101 | $10,470 | $12,232 |
Total weighted-average basic shares outstanding | 3,780.60 | 3,782.40 | 3,783.90 | 3,800.30 |
Add: Employee stock options, SARs and warrants | 31.9 | 31.9 | 34.2 | 30.3 |
Total weighted-average diluted shares outstanding | 3,812.50 | 3,814.30 | 3,818.10 | 3,830.60 |
Net income per share | $1.46 | $1.60 | $2.74 | $3.19 |
Earnings Per Share, Diluted, Other Disclosures [Abstract] | ' | ' | ' | ' |
Aggregate antidilutive number of shares issuable | 1 | 8 | 1 | 11 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income/(Loss) - Rollforward (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Mar. 31, 2014 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | ' | ' | $1,199 | ' | ' |
Unrealized gains/(losses) on investment securities | 1,075 | -3,091 | 2,069 | -3,731 | ' |
Net change, translation adjustments, net of hedges | 12 | -38 | 10 | -51 | ' |
Net change after tax | 68 | -290 | 127 | -352 | ' |
Net change, defined benefit pension and OPEB plans | 7 | 64 | 33 | 168 | ' |
Total other comprehensive income/(loss), after-tax | 1,162 | -3,355 | 2,239 | -3,966 | ' |
Ending Balance | 3,438 | ' | 3,438 | ' | ' |
Net pretax unrealized gains (losses) in AOCI on securities on date of transfer from available-for-sale to held-to-maturity | ' | ' | ' | ' | -9 |
Unrealized gains/(losses) on investment securities | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | 3,792 | 6,228 | 2,798 | 6,868 | ' |
Unrealized gains/(losses) on investment securities | 1,075 | -3,091 | 2,069 | -3,731 | ' |
Ending Balance | 4,867 | 3,137 | 4,867 | 3,137 | ' |
Translation adjustments, net of hedges | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | -138 | -108 | -136 | -95 | ' |
Net change, translation adjustments, net of hedges | 12 | -38 | 10 | -51 | ' |
Ending Balance | -126 | -146 | -126 | -146 | ' |
Cash flow hedges | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | -80 | 58 | -139 | 120 | ' |
Net change after tax | 68 | -290 | 127 | -352 | ' |
Ending Balance | -12 | -232 | -12 | -232 | ' |
Defined benefit pension and OPEB plans | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | -1,298 | -2,687 | -1,324 | -2,791 | ' |
Net change, defined benefit pension and OPEB plans | 7 | 64 | 33 | 168 | ' |
Ending Balance | -1,291 | -2,623 | -1,291 | -2,623 | ' |
Accumulated other comprehensive income/(loss) | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | 2,276 | 3,491 | 1,199 | 4,102 | ' |
Total other comprehensive income/(loss), after-tax | 1,162 | -3,355 | 2,239 | -3,966 | ' |
Ending Balance | $3,438 | $136 | $3,438 | $136 | ' |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income/(Loss) - Components of Other Comprehensive Income/(Loss) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Unrealized gains/(losses) on investment securities: | ' | ' | ' | ' |
Unrealized gains/(losses) on investment securities | $1,075 | ($3,091) | $2,069 | ($3,731) |
Translation adjustments: | ' | ' | ' | ' |
Translation adjustments, net of hedges | 12 | -38 | 10 | -51 |
Cash flow hedges: | ' | ' | ' | ' |
Net change after tax | 68 | -290 | 127 | -352 |
Defined benefit pension and OPEB plans: | ' | ' | ' | ' |
Defined benefit pension and OPEB plans | 7 | 64 | 33 | 168 |
Total other comprehensive income/(loss), after-tax | 1,162 | -3,355 | 2,239 | -3,966 |
Total other comprehensive income/(loss) | ' | ' | ' | ' |
Defined benefit pension and OPEB plans: | ' | ' | ' | ' |
Total Other comprehensive income/(loss) before tax | 1,901 | -5,481 | 3,664 | -6,458 |
Total Other comprehensive income/(loss) tax effect | -739 | 2,126 | -1,425 | 2,492 |
Total other comprehensive income/(loss), after-tax | 1,162 | -3,355 | 2,239 | -3,966 |
Unrealized gains/(losses) on investment securities | ' | ' | ' | ' |
Unrealized gains/(losses) on investment securities: | ' | ' | ' | ' |
Net unrealized gains/(losses) arising during the period before tax | 1,778 | -4,947 | 3,399 | -5,462 |
Net unrealized gains/(losses) arising during the period tax effect | -695 | 1,931 | -1,304 | 2,116 |
Net unrealized gains/(losses) arising during the period after tax | 1,083 | -3,016 | 2,095 | -3,346 |
Reclassification adjustment for realized (gains)/losses included in net income before tax | -12 | -124 | -42 | -633 |
Reclassification adjustment for realized (gains)/losses included in net income tax effect | 4 | 49 | 16 | 248 |
Reclassification adjustment for realized (gains)/losses included in net income after tax | -8 | -75 | -26 | -385 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment Including OTTI, Before Tax | 1,766 | -5,071 | 3,357 | -6,095 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment Including OTTI, Tax | -691 | 1,980 | -1,288 | 2,364 |
Unrealized gains/(losses) on investment securities | 1,075 | -3,091 | 2,069 | -3,731 |
Translation adjustments | ' | ' | ' | ' |
Translation adjustments: | ' | ' | ' | ' |
Translation before tax | 218 | -607 | 372 | -1,034 |
Translation tax effect | -79 | 223 | -142 | 381 |
Translation after tax | 139 | -384 | 230 | -653 |
Hedges - gain/(loss) before tax | -208 | 571 | -362 | 991 |
Hedges - gains/(losses) tax effect during period | 81 | -225 | 142 | -389 |
Hedges - gains/(losses) after tax | -127 | 346 | -220 | 602 |
Net change before tax | 10 | -36 | 10 | -43 |
Net change tax effect | 2 | -2 | 0 | -8 |
Translation adjustments, net of hedges | 12 | -38 | 10 | -51 |
Cash flow hedges | ' | ' | ' | ' |
Cash flow hedges: | ' | ' | ' | ' |
Net unrealized gains/(losses) before tax | 143 | -512 | 215 | -642 |
Net unrealized gains/(losses) arising during the period, tax | -57 | 201 | -87 | 252 |
Net unrealized gains/(losses), Net of Tax | 86 | -311 | 128 | -390 |
Reclassification adjustment for realized (gains)/losses included in net income, before tax | -29 | 34 | -2 | 63 |
Reclassification adjustment for realized (gains)/losses included in net income, tax | 11 | -13 | 1 | -25 |
Reclassification adjustment for realized (gains)/losses included in net income, net of tax | -18 | 21 | -1 | 38 |
Net change before tax | 114 | -478 | 213 | -579 |
Net change tax effect | -46 | 188 | -86 | 227 |
Net change after tax | 68 | -290 | 127 | -352 |
Net loss and prior service costs/(credit) of defined benefit pension and OPEB plans | ' | ' | ' | ' |
Defined benefit pension and OPEB plans: | ' | ' | ' | ' |
Net gains/(losses), pension and OPEB, arising during period, before tax | 19 | 37 | 88 | 85 |
Net gains/(losses), pension and OPEB, arising during period, tax | -8 | -15 | -34 | -25 |
Net gains/(losses), pension and OPEB, arising during period, net of tax | 11 | 22 | 54 | 60 |
Reclassification adjustments included in net income, amortization of net loss, before tax | 19 | 79 | 37 | 160 |
Reclassification adjustments included in net income, amortization of net loss, tax effect | -7 | -31 | -15 | -62 |
Reclassification adjustments included in net income, amortization of net loss, net of tax | 12 | 48 | 22 | 98 |
Reclassification adjustments included in net income, prior service costs/(credits), before tax | -12 | -11 | -22 | -22 |
Reclassification adjustments included in net income, prior service costs/(credits), tax | 5 | 5 | 9 | 9 |
Reclassification adjustments included in net income, prior service costs/(credits), net of tax | -7 | -6 | -13 | -13 |
Foreign exchange and other, pretax | -15 | -1 | -19 | 36 |
Foreign exchange and other, tax effect | 6 | 1 | -11 | -13 |
Foreign exchange and other, after-tax | -9 | 0 | -30 | 23 |
Net change before tax | 11 | 104 | 84 | 259 |
Net change tax effect | -4 | -40 | -51 | -91 |
Defined benefit pension and OPEB plans | $7 | $64 | $33 | $168 |
Regulatory_Capital_Details
Regulatory Capital (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Basel III | Basel III | Basel III | Basel III | Basel III Standardized Transitional | Basel III Standardized Transitional | Basel III Standardized Transitional | Basel III Advanced Transitional | Basel III Advanced Transitional | Basel III Advanced Transitional | Basel I | Basel I | Basel I | Basel I | |
JPMorgan Chase & Co. | JPMorgan Chase Bank, N.A. | Chase Bank USA, N.A. | JPMorgan Chase & Co. | JPMorgan Chase Bank, N.A. | Chase Bank USA, N.A. | JPMorgan Chase & Co. | JPMorgan Chase Bank, N.A. | Chase Bank USA, N.A. | JPMorgan Chase & Co. | JPMorgan Chase Bank, N.A. | Chase Bank USA, N.A. | |||
Regulatory capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CET1 capital | ' | ' | ' | ' | $160,086,000,000 | $149,961,000,000 | $13,626,000,000 | $160,086,000,000 | $149,961,000,000 | $13,626,000,000 | ' | ' | ' | ' |
Tier 1 capital | ' | ' | ' | ' | 179,884,000,000 | 149,961,000,000 | 13,626,000,000 | 179,884,000,000 | 149,961,000,000 | 13,626,000,000 | ' | 165,663,000,000 | 139,727,000,000 | 12,956,000,000 |
Total capital | ' | ' | ' | ' | 213,780,000,000 | 168,636,000,000 | 19,526,000,000 | 203,076,000,000 | 160,749,000,000 | 18,276,000,000 | ' | 199,286,000,000 | 165,496,000,000 | 16,389,000,000 |
Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk-weighted assets | ' | ' | ' | ' | 1,458,620,000,000 | 1,241,565,000,000 | 98,509,000,000 | 1,626,427,000,000 | 1,349,140,000,000 | 154,964,000,000 | ' | 1,387,863,000,000 | 1,171,574,000,000 | 100,990,000,000 |
Adjusted average assets | ' | ' | ' | ' | 2,374,025,000,000 | 1,895,540,000,000 | 114,031,000,000 | 2,374,025,000,000 | 1,895,540,000,000 | 114,031,000,000 | ' | 2,343,713,000,000 | 1,900,770,000,000 | 109,731,000,000 |
Capital ratios | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CET1 capital | ' | ' | ' | ' | 11.00% | 12.10% | 13.80% | 9.80% | 11.10% | 8.80% | ' | ' | ' | ' |
Tier 1 capital | ' | ' | ' | ' | 12.30% | 12.10% | 13.80% | 11.10% | 11.10% | 8.80% | ' | 11.90% | 11.90% | 12.80% |
Total capital | ' | ' | ' | ' | 14.70% | 13.60% | 19.80% | 12.50% | 11.90% | 11.80% | ' | 14.40% | 14.10% | 16.20% |
Tier 1 leverage | ' | ' | ' | ' | 7.60% | 7.90% | 12.00% | 7.60% | 7.90% | 12.00% | ' | 7.10% | 7.40% | 11.80% |
CET1, minimum capital ratios | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tier 1 capital - Well capitalized ratio | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tier 1 capital - Minimum capital ratio | 5.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total capital - Well-capitalized ratio | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total capital - Minimum capital ratio | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tier 1 leverage - Well-capitalized ratio | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tier 1 leverage - Minimum capital ratio | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Junior subordinated debenture owed to unconsolidated subsidiary trust included in capital | ' | 2,700,000,000 | 300,000,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustments to Capital for Deferred Tax Liabilities [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustments to capital for deferred tax liabilities resulting from nontaxable business combinations | 145,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 192,000,000 | ' | ' | ' |
Adjustments to capital for deferred tax liabilities resulting from tax-deductible goodwill | $2,800,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,800,000,000 | ' | ' | ' |
OffBalance_Sheet_LendingRelate2
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments (Details) (USD $) | 3 Months Ended | 6 Months Ended | 6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | |
Wholesale | Wholesale | Consumer Loan | Consumer Loan | Consumer Loan Excluding Credit Card | Consumer Loan Excluding Credit Card | Home Equity - Senior Lien | Home Equity - Senior Lien | Home Equity - Junior Lien | Home Equity - Junior Lien | Prime Mortgages, Including Option ARMs | Prime Mortgages, Including Option ARMs | Subprime Mortgages | Subprime Mortgages | Auto Loans | Auto Loans | Business Banking Loans | Business Banking Loans | Student and Other Loans | Student and Other Loans | Credit Card Loan | Credit Card Loan | Total retained loans | Total retained loans | Total retained loans | Total retained loans | Other Unfunded Commitments to Extend Credit | Other Unfunded Commitments to Extend Credit | Standby Letters of Credit, and Other Financial Guarantees | Standby Letters of Credit, and Other Financial Guarantees | Unused Advised Lines of Credit | Unused Advised Lines of Credit | Other Letters of Credit | Other Letters of Credit | Securities Lending Indemnifications | Securities Lending Indemnifications | Derivatives Qualifying as Guarantees | Derivatives Qualifying as Guarantees | Unsettled Reverse Repurchase and Securities Borrowing Agreements | Unsettled Reverse Repurchase and Securities Borrowing Agreements | Residential mortgage | Residential mortgage | Residential mortgage | Residential mortgage | Residential mortgage | Residential mortgage | Loans Sold With Recourse | Loans Sold With Recourse | Other Guarantees and Commitments | Other Guarantees and Commitments | Letters of Credit Hedged by Derivative Transactions | Letters of Credit Hedged by Derivative Transactions | Expires in one year or less | Expires in one year or less | Expires in one year or less | Expires in one year or less | Expires in one year or less | Expires in one year or less | Expires in one year or less | Expires in one year or less | Expires in one year or less | Expires in one year or less | Expires in one year or less | Expires in one year or less | Expires in one year or less | Expires in one year or less | Expires in one year or less | Expires in one year or less | Expires in one year or less | Expires in one year or less | Expires in one year or less | Expires in one year or less | Expires after one year through three years | Expires after one year through three years | Expires after one year through three years | Expires after one year through three years | Expires after one year through three years | Expires after one year through three years | Expires after one year through three years | Expires after one year through three years | Expires after one year through three years | Expires after one year through three years | Expires after one year through three years | Expires after one year through three years | Expires after one year through three years | Expires after one year through three years | Expires after one year through three years | Expires after one year through three years | Expires after one year through three years | Expires after one year through three years | Expires after one year through three years | Expires after one year through three years | Expires after three years through five years | Expires after three years through five years | Expires after three years through five years | Expires after three years through five years | Expires after three years through five years | Expires after three years through five years | Expires after three years through five years | Expires after three years through five years | Expires after three years through five years | Expires after three years through five years | Expires after three years through five years | Expires after three years through five years | Expires after three years through five years | Expires after three years through five years | Expires after three years through five years | Expires after three years through five years | Expires after three years through five years | Expires after three years through five years | Expires after three years through five years | Expires after three years through five years | Expires after five years | Expires after five years | Expires after five years | Expires after five years | Expires after five years | Expires after five years | Expires after five years | Expires after five years | Expires after five years | Expires after five years | Expires after five years | Expires after five years | Expires after five years | Expires after five years | Expires after five years | Expires after five years | Expires after five years | Expires after five years | Expires after five years | Expires after five years | Days Past Due, 60 or More | ||||||
Total U.S. | Total U.S. | Warranty Reserves | Warranty Reserves | Warranty Reserves | Warranty Reserves | Warranty Reserves | Warranty Reserves | Consumer Loan | Consumer Loan Excluding Credit Card | Home Equity - Senior Lien | Home Equity - Junior Lien | Prime Mortgages, Including Option ARMs | Subprime Mortgages | Auto Loans | Business Banking Loans | Student and Other Loans | Credit Card Loan | Total retained loans | Other Unfunded Commitments to Extend Credit | Standby Letters of Credit, and Other Financial Guarantees | Unused Advised Lines of Credit | Other Letters of Credit | Securities Lending Indemnifications | Derivatives Qualifying as Guarantees | Unsettled Reverse Repurchase and Securities Borrowing Agreements | Other Guarantees and Commitments | Consumer Loan | Consumer Loan Excluding Credit Card | Home Equity - Senior Lien | Home Equity - Junior Lien | Prime Mortgages, Including Option ARMs | Subprime Mortgages | Auto Loans | Business Banking Loans | Student and Other Loans | Credit Card Loan | Total retained loans | Other Unfunded Commitments to Extend Credit | Standby Letters of Credit, and Other Financial Guarantees | Unused Advised Lines of Credit | Other Letters of Credit | Securities Lending Indemnifications | Derivatives Qualifying as Guarantees | Unsettled Reverse Repurchase and Securities Borrowing Agreements | Other Guarantees and Commitments | Consumer Loan | Consumer Loan Excluding Credit Card | Home Equity - Senior Lien | Home Equity - Junior Lien | Prime Mortgages, Including Option ARMs | Subprime Mortgages | Auto Loans | Business Banking Loans | Student and Other Loans | Credit Card Loan | Total retained loans | Other Unfunded Commitments to Extend Credit | Standby Letters of Credit, and Other Financial Guarantees | Unused Advised Lines of Credit | Other Letters of Credit | Securities Lending Indemnifications | Derivatives Qualifying as Guarantees | Unsettled Reverse Repurchase and Securities Borrowing Agreements | Other Guarantees and Commitments | Consumer Loan | Consumer Loan Excluding Credit Card | Home Equity - Senior Lien | Home Equity - Junior Lien | Prime Mortgages, Including Option ARMs | Subprime Mortgages | Auto Loans | Business Banking Loans | Student and Other Loans | Credit Card Loan | Total retained loans | Other Unfunded Commitments to Extend Credit | Standby Letters of Credit, and Other Financial Guarantees | Unused Advised Lines of Credit | Other Letters of Credit | Securities Lending Indemnifications | Derivatives Qualifying as Guarantees | Unsettled Reverse Repurchase and Securities Borrowing Agreements | Other Guarantees and Commitments | Credit Card Loan | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale | Wholesale | Lending-Related Commitments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit clos criteria, period past due | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '60 days |
Total lending-related, contractual amount | $1,041,373,000,000 | $1,040,134,000,000 | $1,041,373,000,000 | $1,040,134,000,000 | $1,031,672,000,000 | $451,275,000,000 | $445,472,000,000 | $590,098,000,000 | $585,440,000,000 | $56,410,000,000 | $56,057,000,000 | $11,953,000,000 | $13,158,000,000 | $15,766,000,000 | $17,837,000,000 | $6,679,000,000 | $4,817,000,000 | $0 | $0 | $9,521,000,000 | $8,309,000,000 | $11,896,000,000 | $11,251,000,000 | $595,000,000 | $685,000,000 | $533,688,000,000 | $529,383,000,000 | $451,275,000,000 | $446,232,000,000 | ' | ' | $253,347,000,000 | $246,495,000,000 | $91,729,000,000 | $92,723,000,000 | $101,681,000,000 | $101,994,000,000 | $4,518,000,000 | $5,020,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $741,977,000,000 | $566,027,000,000 | $32,339,000,000 | $2,332,000,000 | $3,707,000,000 | $6,679,000,000 | $0 | $9,006,000,000 | $10,516,000,000 | $99,000,000 | $533,688,000,000 | $175,950,000,000 | $59,664,000,000 | $23,884,000,000 | $89,000,000,000 | $3,402,000,000 | ' | ' | ' | ' | $133,922,000,000 | $11,935,000,000 | $11,935,000,000 | $4,303,000,000 | $6,338,000,000 | $0 | $0 | $371,000,000 | $886,000,000 | $37,000,000 | $0 | $121,987,000,000 | $76,645,000,000 | $32,699,000,000 | $11,649,000,000 | $994,000,000 | ' | ' | ' | ' | $148,862,000,000 | $6,751,000,000 | $6,751,000,000 | $3,050,000,000 | $3,460,000,000 | $0 | $0 | $122,000,000 | $117,000,000 | $2,000,000 | $0 | $142,111,000,000 | $108,410,000,000 | $33,020,000,000 | $559,000,000 | $122,000,000 | ' | ' | ' | ' | $16,612,000,000 | $5,385,000,000 | $5,385,000,000 | $2,268,000,000 | $2,261,000,000 | $0 | $0 | $22,000,000 | $377,000,000 | $457,000,000 | $0 | $11,227,000,000 | $8,628,000,000 | $2,126,000,000 | $473,000,000 | $0 | ' | ' | ' | ' | ' |
Total lending related, carrying value | 1,271,000,000 | ' | 1,271,000,000 | ' | 1,385,000,000 | ' | ' | 9,000,000 | 8,000,000 | 9,000,000 | 8,000,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,000,000 | 1,000,000 | 8,000,000 | 7,000,000 | 0 | 0 | 0 | 0 | 1,262,000,000 | 1,377,000,000 | ' | ' | 410,000,000 | 432,000,000 | 851,000,000 | 943,000,000 | 0 | 0 | 1,000,000 | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other guarantees and commitments, contractual amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 208,317,000,000 | 169,709,000,000 | 53,452,000,000 | 56,274,000,000 | 74,198,000,000 | 38,211,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 5,505,000,000 | 6,786,000,000 | 4,500,000,000 | 4,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 208,317,000,000 | 1,088,000,000 | 74,198,000,000 | 437,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 795,000,000 | 0 | 353,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 13,836,000,000 | 0 | 2,616,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 37,733,000,000 | 0 | 2,099,000,000 | ' |
Other guarantees and commitments, carrying value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 44,000,000 | 72,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -79,000,000 | -99,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unsettled reverse repurchase and securities borrowing agreements, carrying value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for lending-related commitments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 228,000,000 | 263,000,000 | ' | ' | 1,000,000 | 2,000,000 | ' | ' | ' | ' | ' | ' | 436,000,000 | 564,000,000 | 681,000,000 | 2,476,000,000 | 2,674,000,000 | 2,811,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indemnification agreements loan sale and securitization loans sold with recourse contractual amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,775,000,000 | 7,692,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indemnification agreements, loan sale and securitization, loans sold in recourse, carrying value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 115,000,000 | 131,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lending related, contractual amount net of risk participations other unfunded commitments to extend credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 184,000,000 | 476,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lending related, contractual amount net of risk participations standby letters of credit and other financial guarantees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,300,000,000 | 14,800,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lending related, contractual amount net of risk participations other letters of credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 538,000,000 | 622,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit enhancements and bond and commercial paper liquidity commitments to US states and municipalities hospitals and other not for profit entities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,000,000,000 | 18,900,000,000 | 15,200,000,000 | 17,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Standby letters of credit, unissued commitments | 44,800,000,000 | ' | 44,800,000,000 | ' | 42,800,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total lending related, contractual amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67.00% | 68.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indemnification agreement securities lending guarantees collateral held in support of | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 216,300,000,000 | 176,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unsettled forward starting reverse repurchase and securities borrowing agreements | 40,700,000,000 | ' | 40,700,000,000 | ' | 9,900,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unsettled reverse repurchase and securities borrowing agreements with regular way settlement periods | 33,500,000,000 | ' | 33,500,000,000 | ' | 28,300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unfunded commitments investments private equity funds third party | 130,000,000 | ' | 130,000,000 | ' | 215,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unfunded commitments investments other equity investments | 691,000,000 | ' | 691,000,000 | ' | 1,900,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments valued at net fair value, unfunded commitments | 111,000,000 | ' | 111,000,000 | ' | 184,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitments to extend credit leveraged and acquisition finance activities | 23,100,000,000 | ' | 23,100,000,000 | ' | 18,300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average balances of U.S. tri-party repurchases | $181,000,000,000 | $279,000,000,000 | $182,000,000,000 | $287,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
OffBalance_Sheet_LendingRelate3
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments - Standby Letters of Credit and Other Financial Guarantees (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Millions, unless otherwise specified | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information | ' | ' | ' |
Total lending-related commitments | $1,041,373 | $1,031,672 | $1,040,134 |
Standby and Other Letters of Credit | ' | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information | ' | ' | ' |
Standby and other letters of credit, carrying value | 852 | 945 | ' |
Standby and other letters of credit, allowance | 229 | 265 | ' |
Other guarantees and commitments, carrying value | 623 | 680 | ' |
Standby letters of credit and other financial guarantees | ' | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information | ' | ' | ' |
Investment-grade | 68,440 | 69,109 | ' |
Noninvestment-grade | 23,289 | 23,614 | ' |
Total lending-related commitments | 91,729 | 92,723 | ' |
Allowance for lending-related commitments | 228 | 263 | ' |
Commitments with collateral, standby letters of credit and other financial guarantees | 40,331 | 40,410 | ' |
Other letters of credit | ' | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information | ' | ' | ' |
Investment-grade | 3,551 | 3,939 | ' |
Noninvestment-grade | 967 | 1,081 | ' |
Total lending-related commitments | 4,518 | 5,020 | ' |
Allowance for lending-related commitments | 1 | 2 | ' |
Commitments with collateral, other letters of credit | $1,718 | $1,473 | ' |
OffBalance_Sheet_LendingRelate4
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments - Derivatives Qualifying as Guarantees (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Fair Value, Off-balance Sheet Risks, Disclosure Information | ' | ' |
Derivative notional amount | $68,878,000,000,000 | $70,413,000,000,000 |
Derivatives Qualifying as Guarantees | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information | ' | ' |
Other guarantees and commitments, contractual amount | 53,452,000,000 | 56,274,000,000 |
Derivative notional amount | 27,200,000,000 | 27,000,000,000 |
Derivatives maximum exposure to loss | 2,900,000,000 | 2,800,000,000 |
Derivative qualifying as guarantees payables | 86,000,000 | 109,000,000 |
Derivative qualifying as guarantees receivables | $42,000,000 | $37,000,000 |
OffBalance_Sheet_LendingRelate5
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments - Loan Sales- and Securitization-Related Indemnifications (Details) (USD $) | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 0 Months Ended | ||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Oct. 25, 2013 | |
Residential Mortgage | Residential Mortgage | Residential Mortgage | Residential Mortgage | Residential Mortgage | Residential Mortgage | Residential Mortgage | Residential Mortgage | Residential Mortgage | Residential Mortgage | Residential Mortgage | Residential Mortgage | Loans Sold With Recourse | Loans Sold With Recourse | Mortgage Backed Securities Litigation and Regulatory Investigations | |
Warranty Reserves | Warranty Reserves | Warranty Reserves | Warranty Reserves | Warranty Reserves | Warranty Reserves | Warranty Reserves | Warranty Reserves | Warranty Reserves | Warranty Reserves | Warranty Reserves | Warranty Reserves | ||||
Repurchase Make-Whole Settlements | Repurchase Make-Whole Settlements | Repurchase Make-Whole Settlements | Repurchase Make-Whole Settlements | Reserves for New Mortgage Loans Sold During the Period | Reserves for New Mortgage Loans Sold During the Period | Reserves for New Mortgage Loans Sold During the Period | Reserves for New Mortgage Loans Sold During the Period | ||||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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 |
Summary of changes in mortgage repurchase liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase liability at beginning of period | 564,000,000 | 2,674,000,000 | 681,000,000 | 2,811,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net realized gains (losses) | -8,000,000 | 191,000,000 | -19,000,000 | 403,000,000 | -1,000,000 | -133,000,000 | -3,000,000 | -254,000,000 | ' | ' | ' | ' | ' | ' | ' |
(Benefit) Provision for repurchase | -136,000,000 | -7,000,000 | -264,000,000 | 68,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase liability at end of period | 436,000,000 | 2,476,000,000 | 436,000,000 | 2,476,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Valuation allowances and reserves, provision | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 6,000,000 | 2,000,000 | 14,000,000 | ' | ' | ' |
Indemnification agreements loan sale and securitization loans sold with recourse contractual amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,775,000,000 | 7,692,000,000 | ' |
Indemnification agreements, loan sale and securitization, loans sold in recourse, carrying value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $115,000,000 | $131,000,000 | ' |
Pledged_Assets_and_Collateral_
Pledged Assets and Collateral (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Billions, unless otherwise specified | ||
Pledged assets and Collateral | ' | ' |
Financial instruments pledged by the Firm that may not be sold or repledged by the secured parties | $53.90 | $60.60 |
Collateral Received that Can be Resold or Repledged | ' | ' |
Assets accepted by the Firm as collateral that it could sell or repledge, deliver or otherwise use at fair value | 777.3 | 726.7 |
Assets accepted by the Firm as collateral that the Firm has sold or repledged | 586.6 | 543.5 |
Assets pledged to Federal Reserve Banks and Federal Home Loan Banks | ' | ' |
Pledged assets and Collateral | ' | ' |
Pledged assets | $269 | $251.30 |
Litigation_Details
Litigation (Details) | Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | 31-May-10 | Mar. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | 31-May-10 | Jun. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2013 | Mar. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jul. 31, 2014 | Aug. 01, 2014 | Aug. 01, 2014 |
CIO Investigations and Litigation [Member] | Madoff Litigation and Investigations | Threatened or Pending Litigation | Threatened or Pending Litigation | Threatened or Pending Litigation | Threatened or Pending Litigation | Threatened or Pending Litigation | Threatened or Pending Litigation | Credit Default Swaps Investigations and Litigation [Member] | Interchange Litigation | Interchange Litigation | Investment Management Litigation | Investment Management Litigation | City of Milan Litigation and Criminal Investigation | City of Milan Litigation and Criminal Investigation | Parmalat | Parmalat | Parmalat | Parmalat | Lehman Brothers Bankruptcy Proceedings | Lehman Brothers Bankruptcy Proceedings | ERROR in label resolution. | ERROR in label resolution. | ERROR in label resolution. | Madoff Litigation, related to Fairfield | Breach of Fiduciary Duty Litigation | MF Global | Mortgage Backed Securities Litigation and Regulatory Investigations | Mortgage Backed Securities Litigation and Regulatory Investigations | Mortgage Backed Securities Litigation and Regulatory Investigations | Mortgage Backed Securities Litigation Related to MBS Offerings Sponsored By JPMorgan Chase | Mortgage Backed Securities Litigation Related to MBS Offerings Sponsored By EMC | Mortgage Backed Securities Litigation Related to MBS Offerings Sponsored By Washington Mutual | Mortgage Backed Securities Litigation Related to MBS Offerings Sponsored By Washington Mutual | Mortgage Backed Securities Litigation Related to MBS Offerings Issued By JPMC and Bear Stearns | Mortgage-Related Investigations and Litigation | Mortgage-Related Investigations and Litigation | Municipal Derivatives Investigations and Litigation | Petters Bankruptcy and Related Matters | Washington Mutual Litigations, not specifically in connection with disputed assets | Washington Mutual Litigations, not specifically in connection with disputed assets | Subsequent Event | Subsequent Event | Subsequent Event | |
United States District Court, Southern District of New York [Member] | New York federal and state court | USD ($) | USD ($) | USD ($) | USD ($) | Maximum | Minimum | actions | Interchange Litigation Defendant Group | Assured Guaranty (U.K.) and Ambac Assurance UK Limited | Assured Guaranty (U.K.) and Ambac Assurance UK Limited | employees | employees | Civil Action | Claw-back Actions | Claims Relating to Derivatives Transactions | USD ($) | Minimum | EUR (€) | actions | actions | USD ($) | Madoff Litigation and Investigations | JPMorgan Chase & Co | USD ($) | Minimum | New York State Court | Minimum | Monoline Insurer | trust | Minimum | USD ($) | municipalities | Shareholder Derivative Action | Minimum | USD ($) | Plaintiff, Deutsche Bank National Trust Company | Plaintiff, Deutsche Bank National Trust Company | Madoff Litigation and Investigations | Mortgage Backed Securities Litigation Related to MBS Offerings Issued By JPMC and Bear Stearns | Mortgage Backed Securities Litigation Related to MBS Offerings Issued By JPMC and Bear Stearns | |||
actions | actions | USD ($) | USD ($) | USD ($) | actions | Minimum | banks | actions | actions | claims | USD ($) | actions | New York State Court | defendant | actions | actions | USD ($) | offerings | investors | USD ($) | trust | New York State Supreme Court | USD ($) | entities | Maximum | Minimum | New York federal and state court | trust | ||||||||||||||||
USD ($) | actions | actions | actions | USD ($) | USD ($) | actions | ||||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency, range of possible loss | ' | ' | ' | ' | ' | ' | $4,600,000,000 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of legal proceedings | 2 | 3 | ' | ' | ' | ' | ' | ' | 9 | ' | ' | 2 | ' | ' | ' | ' | 5 | 2 | 2 | ' | ' | ' | 2 | 3 | 2 | 5 | ' | 3 | ' | ' | ' | 2 | ' | ' | ' | ' | 1 | ' | ' | ' | ' | 2 | ' | ' |
Loss contingency settlement amount agreed to pay by defendant group | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency, settlement agreement, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency, settlement agreement, consideration, basis points of interchange | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period class plaintiffs will receive basis points of interchange | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '8 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period from the end of the opt-out period | ' | ' | ' | ' | ' | ' | ' | ' | ' | '60 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency, damages sought | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | 7,900,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000,000 | 6,000,000,000 | ' | ' | ' |
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 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of former employees intended to be charged with conspiracy | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency, damages, sought, counterclaims, value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Litigation settlement, amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency, damages sought, recoveries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 155,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 450,000,000 | ' | ' | ' | ' | ' |
Number within a group of defendants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of original principal balance of MBS involved claims by investors or Monoline Insurers against JPMC, Bear Stearns or Washington Mutual as issuer or as underwriter | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of original principal balance of MBS involved claims by investors or Monoline Insurers against JPMC, Bear Stearns or Washington Mutual as issuer | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of original principal balance of MBS involved claims by investors or Monoline Insurers against JPMC, Bear Stearns or Washington Mutual as underwriter | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of institutional MBS investors directing or threatening litigation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of voting rights, MBS trust certificate holders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of trusts related to an MBS securitization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of mortgage repurchase claims being made through trustees of MBS trusts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 174,000,000,000 | ' | ' | 58,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of MBS for which repurchase and servicing claims have been or could have been asserted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 330 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of MBS trusts for which offer is accepted In part or in whole | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 310 |
Number of MBS trusts for which offer is rejected In part or in whole | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 |
Number of days extended to solicit investor direction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '60 days | ' |
Number of MBS for which repurchase and servicing claims have been or could have been asserted, pending investor consent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14 |
Number of MBS for which repurchase and servicing claims have been or could have been asserted, pending investor consent for certain loan groups | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13 |
Number of claims dismissed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of municipalities pursuing investigations into the impact, if any, of alleged violations of the FHA and ECOA on their respective communities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' |
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, loss in period | ' | ' | $669,000,000 | $678,000,000 | $707,000,000 | $1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business_Segments_Details
Business Segments (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |||
segment | ||||||||
Business and Segment Description [Abstract] | ' | ' | ' | ' | ' | |||
Number of JPMorgan Chase & Co business segments | ' | ' | 4 | ' | ' | |||
Segment results and reconciliation | ' | ' | ' | ' | ' | |||
Noninterest Income | $13,656 | $14,507 | $25,982 | $28,696 | ' | |||
Net interest income | 10,798 | 10,704 | 21,465 | 21,637 | ' | |||
Total net revenue | 24,454 | 25,211 | 47,447 | 50,333 | ' | |||
Provision for credit losses | 692 | 47 | 1,542 | 664 | ' | |||
Noninterest expense | 15,431 | 15,866 | 30,067 | 31,289 | ' | |||
Income/(loss) before income tax expense/(benefit) | 8,331 | 9,298 | 15,838 | 18,380 | ' | |||
Income tax expense / (benefit) | 2,346 | 2,802 | 4,579 | 5,355 | ' | |||
Net income | 5,985 | 6,496 | 11,259 | 13,025 | ' | |||
Average common equity | 206,159 | 197,283 | 203,989 | 196,016 | ' | |||
Total assets | 2,520,336 | [1] | 2,439,494 | 2,520,336 | [1] | 2,439,494 | 2,415,689 | [1] |
Return on average common equity | 11.00% | 13.00% | 11.00% | 13.00% | ' | |||
Overhead ratio | 63.00% | 63.00% | 63.00% | 62.00% | ' | |||
Consumer & Community Banking | ' | ' | ' | ' | ' | |||
Segment results and reconciliation | ' | ' | ' | ' | ' | |||
Noninterest Income | 4,468 | 4,921 | 7,902 | 9,327 | ' | |||
Net interest income | 6,963 | 7,094 | 13,989 | 14,303 | ' | |||
Total net revenue | 11,431 | 12,015 | 21,891 | 23,630 | ' | |||
Provision for credit losses | 852 | -19 | 1,668 | 530 | ' | |||
Noninterest expense | 6,456 | 6,864 | 12,893 | 13,654 | ' | |||
Income/(loss) before income tax expense/(benefit) | 4,123 | 5,170 | 7,330 | 9,446 | ' | |||
Income tax expense / (benefit) | 1,680 | 2,081 | 2,951 | 3,771 | ' | |||
Net income | 2,443 | 3,089 | 4,379 | 5,675 | ' | |||
Average common equity | 51,000 | 46,000 | 51,000 | 46,000 | ' | |||
Total assets | 447,277 | 460,642 | 447,277 | 460,642 | ' | |||
Return on average common equity | 19.00% | 27.00% | 17.00% | 25.00% | ' | |||
Overhead ratio | 56.00% | 57.00% | 59.00% | 58.00% | ' | |||
Corporate & Investment Bank | ' | ' | ' | ' | ' | |||
Segment results and reconciliation | ' | ' | ' | ' | ' | |||
Noninterest Income | 6,531 | 7,171 | 12,767 | 14,528 | ' | |||
Net interest income | 2,460 | 2,705 | 4,830 | 5,488 | ' | |||
Total net revenue | 8,991 | 9,876 | 17,597 | 20,016 | ' | |||
Provision for credit losses | -84 | -6 | -35 | 5 | ' | |||
Noninterest expense | 6,058 | 5,742 | 11,662 | 11,853 | ' | |||
Income/(loss) before income tax expense/(benefit) | 3,017 | 4,140 | 5,970 | 8,158 | ' | |||
Income tax expense / (benefit) | 1,054 | 1,302 | 2,028 | 2,710 | ' | |||
Net income | 1,963 | 2,838 | 3,942 | 5,448 | ' | |||
Average common equity | 61,000 | 56,500 | 61,000 | 56,500 | ' | |||
Total assets | 873,288 | 873,527 | 873,288 | 873,527 | ' | |||
Return on average common equity | 13.00% | 20.00% | 13.00% | 19.00% | ' | |||
Overhead ratio | 67.00% | 58.00% | 66.00% | 59.00% | ' | |||
Commercial Banking | ' | ' | ' | ' | ' | |||
Segment results and reconciliation | ' | ' | ' | ' | ' | |||
Noninterest Income | 577 | 551 | 1,135 | 1,086 | ' | |||
Net interest income | 1,124 | 1,177 | 2,217 | 2,315 | ' | |||
Total net revenue | 1,701 | 1,728 | 3,352 | 3,401 | ' | |||
Provision for credit losses | -67 | 44 | -62 | 83 | ' | |||
Noninterest expense | 675 | 652 | 1,361 | 1,296 | ' | |||
Income/(loss) before income tax expense/(benefit) | 1,093 | 1,032 | 2,053 | 2,022 | ' | |||
Income tax expense / (benefit) | 435 | 411 | 817 | 805 | ' | |||
Net income | 658 | 621 | 1,236 | 1,217 | ' | |||
Average common equity | 14,000 | 13,500 | 14,000 | 13,500 | ' | |||
Total assets | 192,523 | 184,124 | 192,523 | 184,124 | ' | |||
Return on average common equity | 19.00% | 18.00% | 18.00% | 18.00% | ' | |||
Overhead ratio | 40.00% | 38.00% | 41.00% | 38.00% | ' | |||
Asset Management | ' | ' | ' | ' | ' | |||
Segment results and reconciliation | ' | ' | ' | ' | ' | |||
Noninterest Income | 2,380 | 2,156 | 4,598 | 4,250 | ' | |||
Net interest income | 576 | 569 | 1,136 | 1,128 | ' | |||
Total net revenue | 2,956 | 2,725 | 5,734 | 5,378 | ' | |||
Provision for credit losses | 1 | 23 | -8 | 44 | ' | |||
Noninterest expense | 2,062 | 1,892 | 4,137 | 3,768 | ' | |||
Income/(loss) before income tax expense/(benefit) | 893 | 810 | 1,605 | 1,566 | ' | |||
Income tax expense / (benefit) | 341 | 310 | 612 | 579 | ' | |||
Net income | 552 | 500 | 993 | 987 | ' | |||
Average common equity | 9,000 | 9,000 | 9,000 | 9,000 | ' | |||
Total assets | 128,362 | 115,157 | 128,362 | 115,157 | ' | |||
Return on average common equity | 25.00% | 22.00% | 22.00% | 22.00% | ' | |||
Overhead ratio | 70.00% | 69.00% | 72.00% | 70.00% | ' | |||
Corporate/Private Equity | ' | ' | ' | ' | ' | |||
Segment results and reconciliation | ' | ' | ' | ' | ' | |||
Noninterest Income | 351 | 290 | 875 | 651 | ' | |||
Net interest income | -81 | -676 | -237 | -1,270 | ' | |||
Total net revenue | 270 | -386 | 638 | -619 | ' | |||
Provision for credit losses | -10 | 5 | -21 | 2 | ' | |||
Noninterest expense | 180 | 716 | 14 | 718 | ' | |||
Income/(loss) before income tax expense/(benefit) | 100 | -1,107 | 645 | -1,339 | ' | |||
Income tax expense / (benefit) | -269 | -555 | -64 | -1,037 | ' | |||
Net income | 369 | -552 | 709 | -302 | ' | |||
Average common equity | 71,159 | 72,283 | 68,989 | 71,016 | ' | |||
Total assets | 878,886 | 806,044 | 878,886 | 806,044 | ' | |||
Reconciling Items | ' | ' | ' | ' | ' | |||
Segment results and reconciliation | ' | ' | ' | ' | ' | |||
Noninterest Income | -651 | -582 | -1,295 | -1,146 | ' | |||
Net interest income | -244 | -165 | -470 | -327 | ' | |||
Total net revenue | -895 | -747 | -1,765 | -1,473 | ' | |||
Provision for credit losses | 0 | 0 | 0 | 0 | ' | |||
Noninterest expense | 0 | 0 | 0 | 0 | ' | |||
Income/(loss) before income tax expense/(benefit) | -895 | -747 | -1,765 | -1,473 | ' | |||
Income tax expense / (benefit) | -895 | -747 | -1,765 | -1,473 | ' | |||
Net income | 0 | 0 | 0 | 0 | ' | |||
Average common equity | $0 | $0 | $0 | $0 | ' | |||
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at June 30, 2014, and December 31, 2013. The difference between total VIE assets and liabilities represents the Firm’s interests in those entities, which were eliminated in consolidation.(in millions)Jun 30, 2014 Dec 31, 2013Assets Trading assets$6,006 $6,366Loans64,598 70,072All other assets2,048 2,168Total assets$72,652 $78,606Liabilities Beneficial interests issued by consolidated variable interest entities$45,723 $49,617All other liabilities1,027 1,061Total liabilities$46,750 $50,678The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests do not have recourse to the general credit of JPMorgan Chase. At both June 30, 2014, and December 31, 2013, the Firm provided limited program-wide credit enhancement of $2.6 billion related to its Firm-administered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 15. |