Document and Entity Information
Document and Entity Information - Jun. 30, 2015 - shares | Total |
Document and Entity Information [Abstract] | |
Entity Registrant Name | JPMORGAN CHASE & CO |
Entity Central Index Key | 19,617 |
Document Type | 10-Q |
Document Period End Date | Jun. 30, 2015 |
Amendment Flag | false |
Document Fiscal Year Focus | 2,015 |
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 | 3,698,067,361 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | ||
Revenue | |||||
Investment banking fees | $ 1,833 | $ 1,751 | $ 3,627 | $ 3,171 | |
Principal transactions | 2,834 | 2,908 | 6,489 | 6,230 | |
Lending- and deposit-related fees | 1,418 | 1,463 | 2,781 | 2,868 | |
Asset management, administration and commissions | 4,015 | 4,007 | 7,822 | 7,843 | |
Securities gains | [1] | 44 | 12 | 96 | 42 |
Mortgage fees and related income | 783 | 1,291 | 1,488 | 1,805 | |
Card income | 1,615 | 1,549 | 3,046 | 2,957 | |
Other income | 586 | 899 | 1,168 | 1,512 | |
Noninterest revenue | 13,128 | 13,880 | 26,517 | 26,428 | |
Interest income | 12,514 | 12,861 | 25,079 | 25,654 | |
Interest expense | 1,830 | 2,063 | 3,718 | 4,189 | |
Net interest income | 10,684 | 10,798 | 21,361 | 21,465 | |
Total net revenue | 23,812 | 24,678 | 47,878 | 47,893 | |
Provision for credit losses | 935 | 692 | 1,894 | 1,542 | |
Noninterest expense | |||||
Compensation expense | 7,694 | 7,610 | 15,737 | 15,469 | |
Occupancy expense | 923 | 973 | 1,856 | 1,925 | |
Technology, communications and equipment expense | 1,499 | 1,433 | 2,990 | 2,844 | |
Professional and outside services | 1,768 | 1,932 | 3,402 | 3,718 | |
Marketing | 642 | 650 | 1,233 | 1,214 | |
Other expense | 1,974 | 2,833 | 4,165 | 4,897 | |
Total noninterest expense | 14,500 | 15,431 | 29,383 | 30,067 | |
Income before income tax expense | 8,377 | 8,555 | 16,601 | 16,284 | |
Income tax expense | 2,087 | 2,575 | 4,397 | 5,035 | |
Net income | 6,290 | 5,980 | 12,204 | 11,249 | |
Net income applicable to common stockholders | $ 5,776 | $ 5,568 | $ 11,228 | $ 10,460 | |
Net income per common share data | |||||
Basic earnings per share (in dollars per share) | $ 1.56 | $ 1.47 | $ 3.02 | $ 2.76 | |
Diluted earnings per share (in dollars per share) | $ 1.54 | $ 1.46 | $ 2.99 | $ 2.74 | |
Weighted-average basic shares (in shares) | 3,707.8 | 3,780.6 | 3,716.6 | 3,783.9 | |
Weighted-average diluted shares (in shares) | 3,743.6 | 3,812.5 | 3,750.5 | 3,818.1 | |
Cash dividends declared per common share (in dollars per share) | $ 0.44 | $ 0.4 | $ 0.84 | $ 0.78 | |
Other-than-temporary impairment losses included in securities gains | |||||
Total credit losses recognized in income | $ (1) | $ 0 | $ (2) | $ (2) | |
[1] | (a)The Firm recognized other-than-temporary impairment (“OTTI”) losses of $1 million for the three months ended June 30, 2015, and $2 million for each of the six months ended June 30, 2015 and 2014. The Firm did not recognize OTTI losses for the three months ended June 30, 2014. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 6,290 | $ 5,980 | $ 12,204 | $ 11,249 |
Other comprehensive income/(loss), after–tax | ||||
Unrealized gains/(losses) on investment securities | (1,419) | 1,075 | (1,330) | 2,069 |
Translation adjustments, net of hedges | 3 | 12 | (7) | 10 |
Cash flow hedges | 80 | 68 | 157 | 127 |
Defined benefit pension and OPEB plans | 8 | 7 | 93 | 33 |
Total other comprehensive income, after–tax | (1,328) | 1,162 | (1,087) | 2,239 |
Comprehensive income | $ 4,962 | $ 7,142 | $ 11,117 | $ 13,488 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 | |
Assets | |||
Cash and due from banks | $ 24,095 | $ 27,831 | |
Deposits with banks | 398,807 | 484,477 | |
Federal funds sold and securities purchased under resale agreements (included $28,670 and $28,585 at fair value) | 212,850 | 215,803 | |
Securities borrowed (included $495 and $992 at fair value) | 98,528 | 110,435 | |
Trading assets | 377,870 | 398,988 | |
Securities (included $266,201 and $298,752 at fair value and assets pledged of $22,616 and $24,912) | 317,795 | 348,004 | |
Loans | 791,247 | 757,336 | |
Allowance for loan losses | (13,915) | (14,185) | |
Loans, net of allowance for loan losses | 777,332 | 743,151 | |
Accrued interest and accounts receivable | 69,642 | 70,079 | |
Premises and equipment | 15,073 | 15,133 | |
Goodwill | 47,476 | 47,647 | |
Mortgage servicing rights | 7,571 | 7,436 | |
Other intangible assets | 1,091 | 1,192 | |
Other assets | 101,469 | 102,597 | |
Total assets | [1] | 2,449,599 | 2,572,773 |
Liabilities | |||
Deposits (included $11,485 and $8,807 at fair value) | 1,287,332 | 1,363,427 | |
Federal funds purchased and securities loaned or sold under repurchase agreements (included $3,586 and $2,979 at fair value) | 180,897 | 192,101 | |
Commercial paper | 42,238 | 66,344 | |
Other borrowed funds (included $13,987 and $14,739 at fair value) | 30,061 | 30,222 | |
Trading liabilities | 139,422 | 152,815 | |
Accounts payable and other liabilities (included $23 and $26 at fair value) | 191,749 | 206,939 | |
Beneficial interests issued by consolidated variable interest entities | 50,002 | 52,362 | |
Long-term debt (included $31,316 and $30,226 at fair value) | 286,693 | 276,836 | |
Total liabilities | [1] | $ 2,208,394 | $ 2,341,046 |
Commitments and contingencies | |||
Stockholders’ equity | |||
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,491,750 and 2,006,250 shares) | $ 24,918 | $ 20,063 | |
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | 4,105 | |
Additional paid-in capital | 92,204 | 93,270 | |
Retained earnings | 138,294 | 129,977 | |
Accumulated other comprehensive income | 1,102 | 2,189 | |
Shares held in RSU Trust, at cost (472,953 shares) | (21) | (21) | |
Treasury stock, at cost (406,866,534 and 390,144,630 shares) | (19,397) | (17,856) | |
Total stockholders’ equity | 241,205 | 231,727 | |
Total liabilities and stockholders’ equity | 2,449,599 | 2,572,773 | |
Assets and liabilities related to VIEs that are consolidated by the Firm | |||
Assets | |||
Trading assets | 5,168 | 9,090 | |
Loans | 67,116 | 68,880 | |
Other assets | 2,274 | 1,815 | |
Total assets | 74,558 | 79,785 | |
Liabilities | |||
Beneficial interests issued by consolidated variable interest entities | 50,002 | 52,362 | |
All other liabilities | 868 | 949 | |
Total liabilities | $ 50,870 | $ 53,311 | |
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at June 30, 2015, and December 31, 2014. 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, 2015 Dec 31, 2014Assets Trading assets$5,168 $9,090Loans67,116 68,880All other assets2,274 1,815Total assets$74,558 $79,785Liabilities Beneficial interests issued by consolidated variable interest entities$50,002 $52,362All other liabilities868 949Total liabilities$50,870 $53,311The 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, 2015, and December 31, 2014, the Firm provided limited program-wide credit enhancement of $2.0 billion related to its Firm-administered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 15. |
Consolidated Balance Sheets (U5
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Assets | ||
Available-for-sale securities | $ 266,201 | $ 298,752 |
Stockholders' equity | ||
Preferred stock, par value (in dollars per share) | $ 1 | $ 1 |
Preferred stock, shares authorized (in shares) | 200,000,000 | 200,000,000 |
Preferred stock, shares issued (in shares) | 2,491,750 | 2,006,250 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 9,000,000,000 | 9,000,000,000 |
Common stock, shares issued (in shares) | 4,104,933,895 | 4,104,933,895 |
Shares held in Trust, shares (in shares) | 472,953 | 472,953 |
Treasury stock, shares (in shares) | 406,866,534 | 390,144,630 |
Limited program wide credit enhancement | $ 2,000 | $ 2,000 |
Trading assets | ||
Assets | ||
Assets pledged | 125,224 | 125,034 |
Securities | ||
Assets | ||
Assets pledged | 22,616 | 24,912 |
Other assets | ||
Assets | ||
Assets pledged | 1,219 | 1,399 |
Recurring | ||
Assets | ||
Federal funds sold and securities purchased under resale agreements | 28,670 | 28,585 |
Securities borrowed | 495 | 992 |
Available-for-sale securities | 266,201 | 298,752 |
Loans, at fair value | 2,431 | 2,611 |
Liabilities | ||
Deposits | 11,485 | 8,807 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 3,586 | 2,979 |
Other borrowed funds | 13,987 | 14,739 |
Accounts payable and other liabilities | 23 | 26 |
Beneficial interests issued by consolidated VIEs, at fair value | 1,330 | 2,162 |
Long-term debt | 31,316 | 30,226 |
Recurring | Other assets | ||
Assets | ||
Other assets at fair value | $ 8,603 | $ 11,909 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Millions | Total | Preferred stock | Common stock | Additional paid-in capital | Retained earnings | Accumulated other comprehensive income/(loss) | Shares held in RSU Trust, at cost | Treasury stock, at cost |
Beginning balance at Dec. 31, 2013 | $ 11,158 | $ 4,105 | $ 93,828 | $ 115,756 | $ 1,199 | $ (21) | $ (14,847) | |
Cumulative effect of change in accounting principle at Dec. 31, 2013 | (321) | |||||||
Balance at beginning of year, adjusted at Dec. 31, 2013 | 115,435 | |||||||
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 | $ 11,249 | 11,249 | ||||||
Dividends declared: | ||||||||
Preferred stock | (495) | |||||||
Common stock ($0.84 and $0.78 per share) | (3,023) | |||||||
Other comprehensive income | 2,239 | 2,239 | ||||||
Purchase of treasury stock | (1,761) | |||||||
Reissuance from treasury stock | 1,561 | |||||||
Ending balance at Jun. 30, 2014 | 226,983 | 18,463 | 4,105 | 92,879 | 123,166 | 3,438 | (21) | (15,047) |
Beginning balance at Dec. 31, 2014 | 20,063 | 4,105 | 93,270 | 129,977 | 2,189 | (21) | (17,856) | |
Cumulative effect of change in accounting principle at Dec. 31, 2014 | 0 | |||||||
Balance at beginning of year, adjusted at Dec. 31, 2014 | 129,977 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Issuance of preferred stock | 4,855 | |||||||
Shares issued and commitments to issue common stock for employee stock-based compensation awards, and related tax effects | (788) | |||||||
Other | (278) | |||||||
Net income | 12,204 | 12,204 | ||||||
Dividends declared: | ||||||||
Preferred stock | (704) | |||||||
Common stock ($0.84 and $0.78 per share) | (3,183) | |||||||
Other comprehensive income | (1,087) | (1,087) | ||||||
Purchase of treasury stock | (3,149) | |||||||
Reissuance from treasury stock | 1,608 | |||||||
Ending balance at Jun. 30, 2015 | $ 241,205 | $ 24,918 | $ 4,015 | $ 92,204 | $ 138,294 | $ 1,102 | $ (21) | $ (19,397) |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Dividends declared: | ||
Common stock, dividends, per share (in dollars per share) | $ 0.84 | $ 0.78 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Operating activities | ||
Net income | $ 12,204 | $ 11,249 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for credit losses | 1,894 | 1,542 |
Depreciation and amortization | 2,419 | 2,426 |
Deferred tax expense | 90 | 2,540 |
Investment securities gains | (96) | (42) |
Stock-based compensation | 1,075 | 1,142 |
Originations and purchases of loans held-for-sale | (30,665) | (34,940) |
Proceeds from sales, securitizations and paydowns of loans held-for-sale | 27,797 | 38,853 |
Net change in: | ||
Trading assets | 34,114 | (14,764) |
Securities borrowed | 11,903 | (2,507) |
Accrued interest and accounts receivable | 154 | (12,801) |
Other assets | 718 | 18,795 |
Trading liabilities | (16,660) | (7,140) |
Accounts payable and other liabilities | (9,432) | 1,733 |
Other operating adjustments | (3,340) | 4,210 |
Net cash provided by operating activities | 32,175 | 10,296 |
Investing activities | ||
Net change in deposits with banks | 85,670 | (77,858) |
Net change in federal funds sold and securities purchased under resale agreements | 2,927 | (1,427) |
Held-to-maturity securities: | ||
Proceeds from paydowns and maturities | 3,185 | 1,667 |
Purchases | (5,678) | (6,312) |
Available-for-sale securities: | ||
Proceeds from paydowns and maturities | 43,454 | 41,248 |
Proceeds from sales | 22,569 | 14,976 |
Purchases | (41,391) | (54,227) |
Proceeds from sales and securitizations of loans held-for-investment | 10,217 | 9,170 |
Other changes in loans, net | (45,505) | (24,730) |
Net cash provided by/(used in) business acquisitions or dispositions | 1,263 | (19) |
All other investing activities, net | 760 | (426) |
Net cash provided by/(used in) investing activities | 77,471 | (97,938) |
Financing activities | ||
Net change in deposits | (88,838) | 33,419 |
Net change in federal funds purchased and securities loaned or sold under repurchase agreements | (11,195) | 35,364 |
Net change in commercial paper and other borrowed funds | (24,161) | 11,119 |
Net change in beneficial interests issued by consolidated variable interest entities | (1,454) | (5,665) |
Proceeds from long-term borrowings | 54,585 | 36,469 |
Payments of long-term borrowings | (40,190) | (36,628) |
Excess tax benefits related to stock-based compensation | 287 | 357 |
Proceeds from issuance of preferred stock | 4,774 | 7,249 |
Treasury stock purchased | (3,149) | (1,761) |
Dividends paid | (3,734) | (3,360) |
All other financing activities, net | (354) | (1,127) |
Net cash (used in)/provided by financing activities | (113,429) | 75,436 |
Effect of exchange rate changes on cash and due from banks | 47 | (42) |
Net decrease in cash and due from banks | (3,736) | (12,248) |
Cash and due from banks at the beginning of the period | 27,831 | 39,771 |
Cash and due from banks at the end of the period | 24,095 | 27,523 |
Cash interest paid | 3,302 | 4,007 |
Cash income taxes paid/(refunded), net | $ 5,833 | $ (739) |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2015 | |
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 businesses, 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, 2014, as filed with the U.S. Securities and Exchange Commission (the “2014 Annual Report”). Certain amounts reported in prior periods have been reclassified to conform with the current presentation. Investments in qualified affordable housing projects Effective January 1, 2015, the Firm adopted new accounting guidance for investments in affordable housing projects that qualify for the low-income housing tax credit, which impacted the Corporate & Investment Bank (“CIB”). As a result of the adoption of this new guidance, the Firm made an accounting policy election to amortize the initial cost of its qualifying investments in proportion to the tax credits and other benefits received, and to present the amortization as a component of income tax expense; previously such amounts were predominantly presented in other income. The guidance was required to be applied retrospectively and accordingly, certain prior period amounts have been revised to conform with the current period presentation. The cumulative effect on retained earnings was a reduction of $321 million as of January 1, 2014. The adoption of this accounting guidance resulted in an increase of $224 million and $229 million in other income and income tax expense, respectively, for the three months ended June 30, 2014, and $446 million and $456 million , respectively, for the six months ended June 30, 2014, which led to an increase of approximately 2% in the effective tax rate for the three and six months ended June 30, 2014. The impact on net income and earnings per share in the periods affected was not material. The Firm recognized $381 million and $384 million of tax credits and other tax benefits associated with these investments within Income tax expense for the three months ended June 30, 2015 and 2014, respectively, and $758 million and $763 million for the six months ended June 30, 2015 and 2014, respectively. The amount of amortization of such investments reported in income tax expense under the current period presentation was $281 million and $267 million , for the three months ended June 30, 2015 and 2014, respectively, and $555 million and $531 million for the six months ended June 30, 2015, respectively. The carrying value of investments in affordable housing projects was $7.1 billion and $7.3 billion at June 30, 2015 and December 31, 2014, respectively. These investments are reported in other assets on the Firm’s Consolidated balance sheets. The amount of commitments related to these investments was $1.7 billion and $1.8 billion at June 30, 2015, and December 31, 2014, respectively. These commitments are reported in accounts payable and other liabilities on the Firm’s Consolidated balance sheets. 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 2014 Annual Report. |
Business Changes and Developmen
Business Changes and Developments | 6 Months Ended |
Jun. 30, 2015 | |
Business Changes and Developments [Abstract] | |
Business changes and developments | Business changes and developments Private Equity sale As part of the Firm’s business simplification, the sale of a portion of the Private Equity Business (“Private Equity sale”) was completed on January 9, 2015. Trust preferred securities redemption On April 2, 2015 the Firm redeemed $1.5 billion of trust preferred capital securities. For further information on the Firm’s trust preferred securities, see Note 21 of JPMorgan Chase’s 2014 Annual Report. Preferred stock issuances During the three and six months ended June 30, 2015, the Firm issued $3.4 billion and $4.9 billion respectively, of noncumulative preferred stock. On July 29, 2015, the Firm issued $1.2 billion of noncumulative preferred stock. For further information on the Firm’s preferred stock, see Note 22 of JPMorgan Chase’s 2014 Annual Report. Increase in common stock dividend The Board of Directors increased the Firm’s quarterly common stock dividend from $0.40 per share to $0.44 per share, effective with the dividend paid on July 31, 2015, to stockholders of record at the close of business on July 6, 2015. |
Fair Value Measurement
Fair Value Measurement | 6 Months Ended |
Jun. 30, 2015 | |
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 2014 Annual Report. The following table presents the asset and liabilities reported at fair value as of June 30, 2015 , and December 31, 2014 , by major product category and fair value hierarchy. Assets and liabilities measured at fair value on a recurring basis Fair value hierarchy Derivative netting adjustments June 30, 2015 (in millions) Level 1 Level 2 Level 3 Total fair value Federal funds sold and securities purchased under resale agreements $ — $ 28,670 $ — $ — $ 28,670 Securities borrowed — 495 — — 495 Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies (a) 5 27,893 901 — 28,799 Residential – nonagency — 1,960 123 — 2,083 Commercial – nonagency — 1,173 138 — 1,311 Total mortgage-backed securities 5 31,026 1,162 — 32,193 U.S. Treasury and government agencies (a) 19,151 6,664 — 25,815 Obligations of U.S. states and municipalities — 6,764 1,247 — 8,011 Certificates of deposit, bankers’ acceptances and commercial paper — 947 — — 947 Non-U.S. government debt securities 25,313 29,106 208 — 54,627 Corporate debt securities — 24,855 943 — 25,798 Loans (b) — 24,419 9,563 — 33,982 Asset-backed securities — 2,699 1,539 — 4,238 Total debt instruments 44,469 126,480 14,662 — 185,611 Equity securities 107,828 448 310 — 108,586 Physical commodities (c) 3,714 1,185 — — 4,899 Other — 10,286 969 — 11,255 Total debt and equity instruments (d) 156,011 138,399 15,941 — 310,351 Derivative receivables: Interest rate 592 652,204 3,867 (625,340 ) 31,323 Credit — 51,926 2,651 (53,256 ) 1,321 Foreign exchange 758 171,741 2,351 (156,510 ) 18,340 Equity — 40,618 1,772 (36,332 ) 6,058 Commodity 191 29,254 487 (19,523 ) 10,409 Total derivative receivables (e) 1,541 945,743 11,128 (890,961 ) 67,451 Total trading assets 157,552 1,084,142 27,069 (890,961 ) 377,802 Available-for-sale securities: Mortgage-backed securities: U.S. government agencies (a) — 57,315 — — 57,315 Residential – nonagency — 39,560 13 — 39,573 Commercial – nonagency — 22,207 — — 22,207 Total mortgage-backed securities — 119,082 13 — 119,095 U.S. Treasury and government agencies (a) 11,544 46 — — 11,590 Obligations of U.S. states and municipalities — 31,424 — — 31,424 Certificates of deposit — 429 — — 429 Non-U.S. government debt securities 23,548 19,244 — — 42,792 Corporate debt securities — 15,822 — — 15,822 Asset-backed securities: Collateralized loan obligations — 30,600 772 — 31,372 Other — 10,866 90 — 10,956 Equity securities 2,721 — — — 2,721 Total available-for-sale securities 37,813 227,513 875 — 266,201 Loans — 136 2,295 — 2,431 Mortgage servicing rights (“MSRs”) — — 7,571 — 7,571 Other assets: Private equity investments (f) 144 164 1,987 — 2,295 All other 3,948 26 839 — 4,813 Total other assets 4,092 190 2,826 — 7,108 Total assets measured at fair value on a recurring basis $ 199,457 $ 1,341,146 (g) $ 40,636 (g) $ (890,961 ) $ 690,278 Deposits $ — $ 7,957 $ 3,528 $ — $ 11,485 Federal funds purchased and securities loaned or sold under repurchase agreements — 3,586 — — 3,586 Other borrowed funds — 12,726 1,261 — 13,987 Trading liabilities: Debt and equity instruments (d) 63,033 17,291 72 — 80,396 Derivative payables: Interest rate 509 618,340 3,008 (607,977 ) 13,880 Credit — 51,611 2,219 (52,568 ) 1,262 Foreign exchange 759 186,948 1,946 (171,197 ) 18,456 Equity — 44,358 3,620 (36,439 ) 11,539 Commodity 102 31,496 1,081 (18,790 ) 13,889 Total derivative payables (e) 1,370 932,753 11,874 (886,971 ) 59,026 Total trading liabilities 64,403 950,044 11,946 (886,971 ) 139,422 Accounts payable and other liabilities — — 23 — 23 Beneficial interests issued by consolidated VIEs — 190 1,140 — 1,330 Long-term debt — 18,727 12,589 — 31,316 Total liabilities measured at fair value on a recurring basis $ 64,403 $ 993,230 $ 30,487 $ (886,971 ) $ 201,149 Fair value hierarchy Derivative netting adjustments December 31, 2014 (in millions) Level 1 Level 2 Level 3 Total fair value Federal funds sold and securities purchased under resale agreements $ — $ 28,585 $ — $ — $ 28,585 Securities borrowed — 992 — — 992 Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies (a) 14 31,904 922 — 32,840 Residential – nonagency — 1,381 663 — 2,044 Commercial – nonagency — 927 306 — 1,233 Total mortgage-backed securities 14 34,212 1,891 — 36,117 U.S. Treasury and government agencies (a) 17,816 8,460 — — 26,276 Obligations of U.S. states and municipalities — 9,298 1,273 — 10,571 Certificates of deposit, bankers’ acceptances and commercial paper — 1,429 — — 1,429 Non-U.S. government debt securities 25,854 27,294 302 — 53,450 Corporate debt securities — 28,099 2,989 — 31,088 Loans (b) — 23,080 13,287 — 36,367 Asset-backed securities — 3,088 1,264 — 4,352 Total debt instruments 43,684 134,960 21,006 — 199,650 Equity securities 104,890 624 431 — 105,945 Physical commodities (c) 2,739 1,741 2 — 4,482 Other — 8,762 1,050 — 9,812 Total debt and equity instruments (d) 151,313 146,087 22,489 — 319,889 Derivative receivables: Interest rate 473 945,635 4,149 (916,532 ) 33,725 Credit — 73,853 2,989 (75,004 ) 1,838 Foreign exchange 758 212,153 2,276 (193,934 ) 21,253 Equity — 39,937 2,552 (34,312 ) 8,177 Commodity 247 42,807 599 (29,671 ) 13,982 Total derivative receivables (e) 1,478 1,314,385 12,565 (1,249,453 ) 78,975 Total trading assets 152,791 1,460,472 35,054 (1,249,453 ) 398,864 Available-for-sale securities: Mortgage-backed securities: U.S. government agencies (a) — 65,319 — — 65,319 Residential – nonagency — 50,865 30 — 50,895 Commercial – nonagency — 21,009 99 — 21,108 Total mortgage-backed securities — 137,193 129 — 137,322 U.S. Treasury and government agencies (a) 13,591 54 — — 13,645 Obligations of U.S. states and municipalities — 30,068 — — 30,068 Certificates of deposit — 1,103 — — 1,103 Non-U.S. government debt securities 24,074 28,669 — — 52,743 Corporate debt securities — 18,532 — — 18,532 Asset-backed securities: Collateralized loan obligations — 29,402 792 — 30,194 Other — 12,499 116 — 12,615 Equity securities 2,530 — — — 2,530 Total available-for-sale securities 40,195 257,520 1,037 — 298,752 Loans — 70 2,541 — 2,611 Mortgage servicing rights — — 7,436 — 7,436 Other assets: — Private equity investments (f) 648 2,624 2,225 — 5,497 All other 4,018 17 959 — 4,994 Total other assets 4,666 2,641 3,184 — 10,491 Total assets measured at fair value on a recurring basis $ 197,652 $ 1,750,280 $ 49,252 $ (1,249,453 ) $ 747,731 Deposits $ — $ 5,948 $ 2,859 $ — $ 8,807 Federal funds purchased and securities loaned or sold under repurchase agreements — 2,979 — — 2,979 Other borrowed funds — 13,286 1,453 — 14,739 Trading liabilities: Debt and equity instruments (d) 62,914 18,713 72 — 81,699 Derivative payables: — Interest rate 499 914,357 3,523 (900,634 ) 17,745 Credit — 73,095 2,800 (74,302 ) 1,593 Foreign exchange 746 221,066 2,802 (201,644 ) 22,970 Equity — 41,925 4,337 (34,522 ) 11,740 Commodity 141 44,318 1,164 (28,555 ) 17,068 Total derivative payables (e) 1,386 1,294,761 14,626 (1,239,657 ) 71,116 Total trading liabilities 64,300 1,313,474 14,698 (1,239,657 ) 152,815 Accounts payable and other liabilities — — 26 — 26 Beneficial interests issued by consolidated VIEs — 1,016 1,146 — 2,162 Long-term debt — 18,349 11,877 — 30,226 Total liabilities measured at fair value on a recurring basis $ 64,300 $ 1,355,052 $ 32,059 $ (1,239,657 ) $ 211,754 Note: Effective April 1, 2015, the Firm adopted new accounting guidance for investments in certain entities that calculate net asset value per share (or its equivalent). As a result of the adoption of this new guidance, certain investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient are not required to be classified in the fair value hierarchy. At June 30, 2015, and December 31, 2014, the fair values of these investments, which include certain hedge funds, private equity funds, real estate and other funds, were $1.6 billion and $1.5 billion , respectively, of which $337 million and $1.2 billion had been previously classified in level 2 and level 3, respectively, at December 31, 2014. Included in the balances at June 30, 2015, and December 31, 2014, were trading assets of $68 million and $124 million , respectively, and other assets of $1.5 billion and $1.4 billion , respectively. The guidance was required to be applied retrospectively, and accordingly, prior period amounts have been revised to conform with the current period presentation. (a) At June 30, 2015 , and December 31, 2014, included total U.S. government-sponsored enterprise obligations of $67.4 billion and $84.1 billion , respectively, which were predominantly mortgage-related. (b) At June 30, 2015 , and December 31, 2014, included within trading loans were $13.7 billion and $17.0 billion , respectively, of residential first-lien mortgages, and $4.6 billion and $5.8 billion , respectively, of commercial first-lien mortgages. Residential mortgage loans include conforming mortgage loans originated with the intent to sell to U.S. government agencies of $6.0 billion and $7.7 billion , respectively, and reverse mortgages of $2.8 billion and $3.4 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 identical securities sold but not yet purchased (short positions). (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. 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 $1.9 billion and $2.5 billion at June 30, 2015 , and December 31, 2014, 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 line of business. The cost basis of the private equity investment portfolio totaled $4.0 billion and $6.0 billion at June 30, 2015 , and December 31, 2014, respectively. Transfers between levels for instruments carried at fair value on a recurring basis For the three and six months ended June 30, 2015 and 2014, there were no individually significant transfers between levels 1 and 2, or from level 2 into level 3. During the three and six months ended June 30, 2015, transfers from level 3 into level 2 included $1.9 billion and $2.0 billion , respectively, of corporate debt driven by a reduction of the significance in the unobservable inputs and an increase in observability for certain structured products and $1.3 billion and $1.9 billion of trading loans, respectively, driven by an increase in observability of certain collateralized financing transactions. During the three and six months ended June 30, 2014, transfers from level 3 into level 2 included $3.0 billion and $3.2 billion of equity derivative receivables, respectively, and $2.7 billion and $2.9 billion of equity derivative payables, respectively, due to increased observability of certain equity options. 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 2014 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. 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. 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. 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, interest rate correlation inputs used in estimating fair value were concentrated towards the upper end of the range presented, equities correlation inputs were concentrated at the low end of the range, while the credit correlation inputs were distributed across the range presented and the foreign exchange correlation inputs were concentrated at the top 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 and the foreign exchange correlation inputs were concentrated at the top end of the range presented. The equity volatilities are concentrated at the lower half 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, 2015 (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 $ 6,287 Discounted cash flows Yield 3 % – 45% 6 % Prepayment speed 0 % – 16% 6 % Conditional default rate 0 % – 100% 13 % Loss severity 0 % – 100% 28 % Commercial mortgage-backed securities and loans (b) 4,136 Discounted cash flows Yield 1 % – 25% 4 % Conditional default rate 0 % – 94% 8 % Loss severity 40% 40 % Corporate debt securities, obligations of U.S. states and municipalities, and other (c) 3,956 Discounted cash flows Credit spread 60 bps – 270 bps 231 bps Yield 1 % – 18% 5 % 4,652 Market comparables Price $ — – $129 $ 92 Net interest rate derivatives 859 Option pricing Interest rate correlation (54 )% – 99% Interest rate spread volatility 4 % – 26% Net credit derivatives (b)(c) 432 Discounted cash flows Credit correlation 40 % – 90% Net foreign exchange derivatives 405 Option pricing Foreign exchange correlation 0 % – 60% Net equity derivatives (1,848 ) Option pricing Equity volatility 20 % – 65% Net commodity derivatives (594 ) Discounted cash flows Forward commodity price $ 50 – $90 per barrel Collateralized loan obligations 772 Discounted cash flows Credit spread 289 bps – 399 bps 305 bps Prepayment speed 20 % 20 % Conditional default rate 2 % 2 % Loss severity 40 % 40 % 146 Market comparables Price $ — – $99 $ 70 Mortgage servicing rights (“MSRs”) 7,571 Discounted cash flows Refer to Note 16 Private equity investments 1,987 Market comparables EBITDA multiple 6.7x – 9.9x 8.3x Liquidity adjustment 0 % – 17% 8 % Long-term debt, other borrowed funds, and deposits (d) 15,661 Option pricing Interest rate correlation (54 )% – 99% Interest rate spread volatility 4 % – 26% Foreign exchange correlation 0 % – 60% Equity correlation (50 )% – 80% 1,717 Discounted cash flows Credit correlation 40 % – 90% (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 $450 million of credit derivative receivables and $396 million of credit derivative payables with underlying commercial mortgage risk have been included in the inputs and ranges provided for commercial mortgage-backed securities (“MBS”) and loans. (c) The unobservable inputs and associated input ranges for approximately $617 million of credit derivative receivables and $569 million of credit derivative payables with underlying asset-backed securities (“ABS”) 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. 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 2014 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, 2015 and 2014. 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, 2015 (in millions) Fair value at April 1, 2015 Total realized/unrealized gains/(losses) Transfers into and/or out of level 3 (h) Fair value at June 30, 2015 Change in unrealized gains/(losses) related to financial instruments held at June 30, 2015 Purchases (g) Sales Settlements Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies $ 888 $ 91 $ 108 $ (148 ) $ (34 ) $ (4 ) $ 901 $ 84 Residential – nonagency 449 54 25 (116 ) (4 ) (285 ) 123 28 Commercial – nonagency 211 2 98 (49 ) (6 ) (118 ) 138 (2 ) Total mortgage-backed securities 1,548 147 231 (313 ) (44 ) (407 ) 1,162 110 Obligations of U.S. states and municipalities 1,331 3 47 (39 ) (2 ) (93 ) 1,247 3 Non-U.S. government debt securities 180 8 54 (20 ) (11 ) (3 ) 208 16 Corporate debt securities 2,759 5 288 (313 ) 57 (1,853 ) 943 10 Loans 10,763 294 1,160 (1,152 ) (350 ) (1,152 ) 9,563 264 Asset-backed securities 1,233 21 737 (371 ) (26 ) (55 ) 1,539 15 Total debt instruments 17,814 478 2,517 (2,208 ) (376 ) (3,563 ) 14,662 418 Equity securities 317 8 21 (13 ) (14 ) (9 ) 310 9 Other 1,041 80 450 (451 ) (137 ) (14 ) 969 (3 ) Total trading assets – debt and equity instruments 19,172 566 (c) 2,988 (2,672 ) (527 ) (3,586 ) 15,941 424 (c) Net derivative receivables: (a) Interest rate 650 351 133 (84 ) (98 ) (93 ) 859 309 Credit 275 17 1 (1 ) 107 33 432 22 Foreign exchange 707 118 8 (8 ) (187 ) (233 ) 405 245 Equity (2,745 ) 801 216 (383 ) 93 170 (1,848 ) 621 Commodity (735 ) 129 — — 47 (35 ) (594 ) 180 Total net derivative receivables (1,848 ) 1,416 (c) 358 (476 ) (38 ) (158 ) (746 ) 1,377 (c) Available-for-sale securities: Asset-backed securities 881 2 — — (21 ) — 862 2 Other 122 — — — (10 ) (99 ) 13 — Total available-for-sale securities 1,003 2 (d) — — (31 ) (99 ) 875 2 (d) Loans 2,222 85 (c) 297 — (309 ) — 2,295 83 (c) Mortgage servicing rights 6,641 794 (e) 583 (218 ) (229 ) — 7,571 794 (e) Other assets: Private equity investments 2,314 11 (c) 7 (27 ) (295 ) (23 ) 1,987 (14 ) (c) All other 894 12 (f) 11 (57 ) (21 ) — 839 3 (f) Fair value measurements using significant unobservable inputs Three months ended Fair value at April 1, 2015 Total realized/unrealized (gains)/losses Transfers into and/or out of level 3 (h) Fair value at Change in unrealized (gains)/losses related Purchases Sales Issuances Settlements Liabilities: (b) Deposits $ 3,340 $ (156 ) (c) $ — $ — $ 673 $ (30 ) $ (299 ) $ 3,528 $ (139 ) (c) Other borrowed funds 1,116 (4 ) (c) 45 — 1,274 (1,161 ) (9 ) 1,261 38 (c) Trading liabilities – debt and equity instruments 82 2 (c) (23 ) 21 — (5 ) (5 ) 72 2 (c) Accounts payable and other liabilities 23 — — — — — — 23 — Beneficial interests issued by consolidated VIEs 1,023 36 (c) (16 ) — 284 (187 ) — 1,140 26 (c) Long-term debt 12,003 (92 ) (c) — — 2,546 (1,774 ) (94 ) 12,589 19 (c) Fair value measurements using significant unobservable inputs Three months ended June 30, 2014 (in millions) 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 to financial instruments held at June 30, 2014 Purchases (g) Sales Settlements 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 868 19 49 (56 ) (22 ) (167 ) 691 83 Physical commodities 3 — — — — — 3 — Other 1,284 266 656 (127 ) (67 ) 329 2,341 173 Total trading assets – debt and equity instruments 24,306 903 (c) 6,282 (3,351 ) (2,315 ) (58 ) 25,767 746 (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 ) (143 ) (i) 57 (i) (547 ) (i) (74 ) (i) (439 ) (i) (2,206 ) (204 ) Commodity (58 ) (18 ) — — 29 (75 ) (122 ) 16 Total net derivative receivables (66 ) (426 ) (c)(i) 304 (i) (634 ) (i) (345 ) (i) (688 ) (i) (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 4,946 144 (c) 22 (470 ) (8 ) (4 ) 4,630 128 (c) All other 1,295 17 (f) 3 (102 ) (14 ) — 1,199 17 (f) Fair value measurements using significant unobservable inputs Fair value at April 1, 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 Purchases Sales Issuances Settlements 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 — 27 (f) — — — — — 27 27 (f) 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 Six months ended Fair value at January 1, 2015 Total realized/unrealized gains/(losses) Transfers into and/or out of level 3 (h) Fair value at Change in unrealized gains/(losses) related Purchases (g) Sales Settlements Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies $ 922 $ 38 $ 182 $ (165 ) $ (74 ) $ (2 ) $ 901 $ 40 Residential – nonagency 663 44 177 (463 ) (10 ) (288 ) 123 26 Commercial – nonagency 306 (9 ) 180 (200 ) (14 ) (125 ) 138 (6 ) Total mortgage-backed securities 1,891 73 539 (828 ) (98 ) (415 ) 1,162 60 Obligations of U.S. states and municipalities 1,273 13 191 (110 ) (27 ) (93 ) 1,247 12 Non-U.S. government debt securities 302 9 155 (112 ) (42 ) (104 ) 208 19 Corporate debt securities 2,989 (50 ) 821 (809 ) (35 ) (1,973 ) 943 18 Loans 13,287 9 1,896 (3,149 ) (819 ) (1,661 ) 9,563 (67 ) Asset-backed securities 1,264 (16 ) 1,296 (892 ) 6 (119 ) 1,539 (14 ) Total debt instruments 21,006 38 4,898 (5,900 ) (1,015 ) (4,365 ) 14,662 28 Equity securities 431 46 50 (123 ) (17 ) (77 ) 310 51 Other 1,052 88 1,111 (1,035 ) (216 ) (31 ) 969 14 Total trading assets – debt and equity instruments 22,489 172 (c) 6,059 (7,058 ) (1,248 ) (4,473 ) 15,941 93 (c) Net derivative receivables: (a) Interest rate 626 493 442 (158 ) (353 ) (191 ) 859 541 Credit 189 94 10 (4 ) 126 17 432 195 Foreign exchange (526 ) 945 13 (11 ) 14 (30 ) 405 551 Equity (1,785 ) 325 424 (672 ) (262 ) 122 (1,848 ) 137 Commodity (565 ) 89 — — (51 ) (67 ) (594 ) (101 ) Total net derivative receivables (2,061 ) 1,946 (c) 889 (845 ) (526 ) (149 ) (746 ) 1,323 (c) Available-for-sale securities: Asset-backed securities 908 (7 ) 49 (43 ) (45 ) — 862 (2 ) Other 129 — — — (17 ) (99 ) 13 — Total available-for-sale securities 1,037 (7 ) (d) 49 (43 ) (62 ) (99 ) 875 (2 ) (d) Loans 2,541 (120 ) (c) 417 (83 ) (460 ) — 2,295 (118 ) (c) Mortgage servicing rights 7,436 215 (e) 739 (375 ) (444 ) — 7,571 215 (e) Other assets: Private equity investments 2,475 47 (c) 7 (27 ) (366 ) (149 ) 1,987 (16 ) (c) All other 965 10 (f) 65 (143 ) (58 ) — 839 (16 ) (f) Fair value measurements using significant unobservable inputs Six months ended Fair value at January 1, 2015 Total realized/unrealized (gains)/losses Transfers into and/or out of level 3 (h) Fair value at Change in unrealized (gains)/losses related Purchases Sales Issuances Settlements Liabilities: (b) Deposits $ 2,859 $ (64 ) (c) $ — $ — $ 1,448 $ (145 ) $ (570 ) $ 3,528 $ 7 (c) Other borrowed funds 1,453 (123 ) (c) 45 — 2,322 (2,142 ) (294 ) 1,261 (122 ) (c) Trading liabilities – debt and equity instruments 72 5 (c) (131 ) 147 — (14 ) (7 ) 72 8 (c) Accounts payable and other liabilities 26 — (c) — — — (3 ) — 23 — (c) Beneficial interests issued by consolidated VIEs 1,146 (17 ) (c) (16 ) — 286 (259 ) — 1,140 — (c) Long-term debt 11,877 (197 ) (c) — (12 ) 5,383 (4,145 ) (317 ) 12,589 (37 ) (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 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 867 100 85 (75 ) (30 ) (256 ) 691 147 Physical commodities 4 — — — (1 ) — 3 — Other 2,000 169 710 (178 ) (95 ) (265 ) 2,341 146 Total trading assets – debt and equity instruments 27,206 1,553 (c) 11,531 (8,480 ) (4,813 ) (1,230 ) 25,767 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 ) (72 ) (i) 858 (i) (1,580 ) (i) 51 (i) (400 ) (i) (2,206 ) 343 Commodity 115 (172 ) 1 — (13 ) (53 ) (122 ) (156 ) Total net derivative receivables 326 (799 ) (c)(i) 1,273 (i) (1,726 ) (i) (345 ) (i) (584 ) (i) (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 5,817 240 (c) 103 (1,488 ) (308 ) 266 4,630 109 (c) All other 1,382 (3 ) (f) 6 (130 ) (56 ) — 1,199 (3 ) (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 instruments held at June 30, 2014 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) Tradi |
Fair Value Option
Fair Value Option | 6 Months Ended |
Jun. 30, 2015 | |
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 2014 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, 2015 and 2014, 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, 2015 2014 (in millions) Principal transactions All other income Total changes in fair value recorded Principal transactions All other income Total changes in fair value recorded Federal funds sold and securities purchased under resale agreements $ (99 ) $ — $ (99 ) $ 96 $ — $ 96 Securities borrowed (2 ) — (2 ) (2 ) — (2 ) Trading assets: Debt and equity instruments, excluding loans 139 1 (c) 140 245 3 (c) 248 Loans reported as trading assets: Changes in instrument-specific credit risk 59 10 (c) 69 391 3 (c) 394 Other changes in fair value (15 ) 100 (c) 85 38 400 (c) 438 Loans: Changes in instrument-specific credit risk — — — 20 — 20 Other changes in fair value — — — 24 — 24 Other assets 2 3 (d) 5 7 (1 ) (d) 6 Deposits (a) 162 — 162 (107 ) — (107 ) Federal funds purchased and securities loaned or sold under repurchase agreements 18 — 18 (18 ) — (18 ) Other borrowed funds (a) 115 — 115 (911 ) — (911 ) Trading liabilities (12 ) — (12 ) (3 ) — (3 ) Beneficial interests issued by consolidated VIEs 26 — 26 (48 ) — (48 ) Other liabilities — — — (27 ) — (27 ) Long-term debt: Changes in instrument-specific credit risk (a) 209 — 209 82 — 82 Other changes in fair value (b) 728 — 728 (773 ) — (773 ) Six months ended June 30, 2015 2014 (in millions) Principal transactions All other income Total changes in fair value recorded Principal transactions All other income Total changes in fair value recorded Federal funds sold and securities purchased under resale agreements $ (26 ) $ — $ (26 ) $ 56 $ — $ 56 Securities borrowed (4 ) — (4 ) (5 ) — (5 ) Trading assets: Debt and equity instruments, excluding loans 519 1 (c) 520 475 1 (c) 476 Loans reported as trading assets: Changes in instrument-specific credit risk 211 13 (c) 224 754 12 (c) 766 Other changes in fair value 112 380 (c) 492 102 692 (c) 794 Loans: Changes in instrument-specific credit risk 1 — 1 28 — 28 Other changes in fair value — — — 31 — 31 Other assets 62 9 (d) 71 12 (74 ) (d) (62 ) Deposits (a) 37 — 37 (211 ) — (211 ) Federal funds purchased and securities loaned or sold under repurchase agreements 9 — 9 (34 ) — (34 ) Other borrowed funds (a) 106 — 106 (1,171 ) — (1,171 ) Trading liabilities (14 ) — (14 ) (9 ) — (9 ) Beneficial interests issued by consolidated VIEs 44 — 44 (137 ) — (137 ) Other liabilities — — — (27 ) — (27 ) Long-term debt: Changes in instrument-specific credit risk (a) 325 — 325 5 — 5 Other changes in fair value (b) 350 — 350 (791 ) — (791 ) (a) Total changes in instrument-specific credit risk (DVA) related to structured notes were $215 million and $134 million for the three months ended June 30, 2015 and 2014, respectively, and $323 million and $19 million for the six months ended June 30, 2015 and 2014, respectively. These totals include such changes for structured notes classified within deposits and other borrowed funds, as well as long-term debt. (b) Structured notes are predominantly financial instruments containing embedded derivatives. Where present, the embedded derivative is the primary driver of risk. Although the risk associated with the structured notes is actively managed, the gains/(losses) reported in this table do not include the income statement impact of the risk management instruments used to manage such risk. (c) Reported in mortgage fees and related income. (d) Reported in other income. Difference between aggregate fair value and aggregate remaining contractual principal balance outstanding The following table reflects the difference between the aggregate fair value and the aggregate remaining contractual principal balance outstanding as of June 30, 2015 , and December 31, 2014 , for loans, long-term debt and long-term beneficial interests for which the fair value option has been elected. June 30, 2015 December 31, 2014 (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 $ 4,096 $ 1,097 $ (2,999 ) $ 3,847 $ 905 $ (2,942 ) Loans 7 7 — 7 7 — Subtotal 4,103 1,104 (2,999 ) 3,854 912 (2,942 ) All other performing loans Loans reported as trading assets 34,729 32,885 (1,844 ) 37,608 35,462 (2,146 ) Loans 2,267 2,262 (5 ) 2,397 2,389 (8 ) Total loans $ 41,099 $ 36,251 $ (4,848 ) $ 43,859 $ 38,763 $ (5,096 ) Long-term debt Principal-protected debt $ 14,747 (c) $ 14,690 $ (57 ) $ 14,660 (c) $ 15,484 $ 824 Nonprincipal-protected debt (b) NA 16,626 NA NA 14,742 NA Total long-term debt NA $ 31,316 NA NA $ 30,226 NA Long-term beneficial interests Nonprincipal-protected debt (b) NA $ 1,330 NA NA $ 2,162 NA Total long-term beneficial interests NA $ 1,330 NA NA $ 2,162 NA (a) There were no performing loans that were ninety days or more past due as of June 30, 2015 , and December 31, 2014 , respectively. (b) Remaining contractual principal is not applicable to nonprincipal-protected notes. Unlike principal-protected structured notes, for which the Firm is obligated to return a stated amount of principal at the maturity of the note, nonprincipal-protected structured notes do not obligate the Firm to return a stated amount of principal at maturity, but to return an amount based on the performance of an underlying variable or derivative feature embedded in the note. 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, 2015 , and December 31, 2014 , the contractual amount of letters of credit for which the fair value option was elected was $4.4 billion and $4.5 billion , respectively, with a corresponding fair value of $(130) million and $(147) million , respectively. For further information regarding off-balance sheet lending-related financial instruments, see Note 29 of JPMorgan Chase’s 2014 Annual Report, and Note 21. 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, 2015 December 31, 2014 (in millions) Long-term debt Other borrowed funds Deposits Total Long-term debt Other borrowed funds Deposits Total Risk exposure Interest rate $ 10,580 $ 99 $ 3,960 $ 14,639 $ 10,858 $ 460 $ 2,119 $ 13,437 Credit 4,353 418 — 4,771 4,023 450 — 4,473 Foreign exchange 1,454 196 12 1,662 2,150 211 17 2,378 Equity 13,416 12,300 4,745 30,461 12,348 12,412 4,415 29,175 Commodity 828 229 2,503 3,560 710 644 2,012 3,366 Total structured notes $ 30,631 $ 13,242 $ 11,220 $ 55,093 $ 30,089 $ 14,177 $ 8,563 $ 52,829 |
Derivative Instruments
Derivative Instruments | 6 Months Ended |
Jun. 30, 2015 | |
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 2014 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 segment or unit 10-Q page reference Manage specifically identified risk exposures in qualifying hedge accounting relationships: ◦ Interest rate Hedge fixed rate assets and liabilities Fair value hedge Corporate 111 –112 ◦ Interest rate Hedge floating-rate assets and liabilities Cash flow hedge Corporate 112 –113 ◦ Foreign exchange Hedge foreign currency-denominated assets and liabilities Fair value hedge Corporate 111 –112 ◦ Foreign exchange Hedge forecasted revenue and expense Cash flow hedge Corporate 112 –113 ◦ Foreign exchange Hedge the value of the Firm’s investments in non-U.S. subsidiaries Net investment hedge Corporate 114 ◦ Commodity Hedge commodity inventory Fair value hedge CIB 111 –112 Manage specifically identified risk exposures not designated in qualifying hedge accounting relationships: ◦ Interest rate Manage the risk of the mortgage pipeline, warehouse loans and MSRs Specified risk management CCB 114 ◦ Credit Manage the credit risk of wholesale lending exposures Specified risk management CIB 114 ◦ Commodity Manage the risk of certain commodities-related contracts and investments Specified risk management CIB 114 ◦ Interest rate and foreign exchange Manage the risk of certain other specified assets and liabilities Specified risk management Corporate 114 Market-making derivatives and other activities: ◦ Various Market-making and related risk management Market-making and other CIB 114 ◦ Various Other derivatives Market-making and other CIB, Corporate 114 Notional amount of derivative contracts The following table summarizes the notional amount of derivative contracts outstanding as of June 30, 2015 , and December 31, 2014 . Notional amounts (b) (in billions) June 30, 2015 December 31, 2014 Interest rate contracts Swaps $ 23,790 $ 29,734 Futures and forwards 7,108 10,189 Written options 3,735 3,903 Purchased options 4,120 4,259 Total interest rate contracts 38,753 48,085 Credit derivatives (a) 3,681 4,249 Foreign exchange contracts Cross-currency swaps 3,262 3,346 Spot, futures and forwards 4,810 4,669 Written options 750 790 Purchased options 758 780 Total foreign exchange contracts 9,580 9,585 Equity contracts Swaps 237 206 Futures and forwards 59 50 Written options 414 432 Purchased options 357 375 Total equity contracts 1,067 1,063 Commodity contracts Swaps 114 126 Spot, futures and forwards 162 193 Written options 175 181 Purchased options 176 180 Total commodity contracts 627 680 Total derivative notional amounts $ 53,708 $ 63,662 (a) For more information on volumes and types of credit derivative contracts, see the Credit derivatives discussion on pages 115–116 of this Note. (b) 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, 2015 , and December 31, 2014 , 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 June 30, 2015 Not designated as hedges Designated as hedges Total derivative receivables Net derivative receivables (b) Not designated as hedges Designated as hedges Total derivative payables Net derivative payables (b) Trading assets and liabilities Interest rate $ 652,504 $ 4,159 $ 656,663 $ 31,323 $ 619,496 $ 2,361 $ 621,857 $ 13,880 Credit 54,577 — 54,577 1,321 53,830 — 53,830 1,262 Foreign exchange 174,062 788 174,850 18,340 188,047 1,606 189,653 18,456 Equity 42,390 — 42,390 6,058 47,978 — 47,978 11,539 Commodity 29,065 867 29,932 10,409 32,667 12 32,679 13,889 Total fair value of trading assets and liabilities $ 952,598 $ 5,814 $ 958,412 $ 67,451 $ 942,018 $ 3,979 $ 945,997 $ 59,026 Gross derivative receivables Gross derivative payables December 31, 2014 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) Trading assets and liabilities Interest rate $ 944,885 $ 5,372 $ 950,257 $ 33,725 $ 915,368 $ 3,011 $ 918,379 $ 17,745 Credit 76,842 — 76,842 1,838 75,895 — 75,895 1,593 Foreign exchange 211,537 3,650 215,187 21,253 223,988 626 224,614 22,970 Equity 42,489 — 42,489 8,177 46,262 — 46,262 11,740 Commodity 43,151 502 43,653 13,982 45,455 168 45,623 17,068 Total fair value of trading assets and liabilities $ 1,318,904 $ 9,524 $ 1,328,428 $ 78,975 $ 1,306,968 $ 3,805 $ 1,310,773 $ 71,116 (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, 2015 , and December 31, 2014 , 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. June 30, 2015 December 31, 2014 (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: OTC $ 431,691 $ (406,111 ) $ 25,580 $ 542,107 $ (514,914 ) $ 27,193 OTC–cleared 219,247 (219,229 ) 18 401,656 (401,618 ) 38 Exchange-traded (a) — — — — — — Total interest rate contracts 650,938 (625,340 ) 25,598 943,763 (916,532 ) 27,231 Credit contracts: OTC 45,040 (44,287 ) 753 66,636 (65,720 ) 916 OTC–cleared 9,000 (8,969 ) 31 9,320 (9,284 ) 36 Total credit contracts 54,040 (53,256 ) 784 75,956 (75,004 ) 952 Foreign exchange contracts: OTC 170,584 (156,406 ) 14,178 208,803 (193,900 ) 14,903 OTC–cleared 107 (104 ) 3 36 (34 ) 2 Exchange-traded (a) — — — — — — Total foreign exchange contracts 170,691 (156,510 ) 14,181 208,839 (193,934 ) 14,905 Equity contracts: OTC 24,520 (23,514 ) 1,006 23,258 (22,826 ) 432 OTC–cleared — — — — — — Exchange-traded (a) 14,918 (12,818 ) 2,100 13,840 (11,486 ) 2,354 Total equity contracts 39,438 (36,332 ) 3,106 37,098 (34,312 ) 2,786 Commodity contracts: OTC 15,963 (7,265 ) 8,698 22,555 (14,327 ) 8,228 OTC–cleared — — — — — — Exchange-traded (a) 13,137 (12,258 ) 879 19,500 (15,344 ) 4,156 Total commodity contracts 29,100 (19,523 ) 9,577 42,055 (29,671 ) 12,384 Derivative receivables with appropriate legal opinion $ 944,207 $ (890,961 ) (b) $ 53,246 $ 1,307,711 $ (1,249,453 ) (b) $ 58,258 Derivative receivables where an appropriate legal opinion has not been either sought or obtained 14,205 14,205 20,717 20,717 Total derivative receivables recognized on the Consolidated balance sheets $ 958,412 $ 67,451 $ 1,328,428 $ 78,975 (a) Exchange-traded derivative amounts that relate to futures contracts are settled daily. (b) Included cash collateral netted of $67.2 billion and $74.0 billion at June 30, 2015 , and December 31, 2014 , respectively. The following table presents, as of June 30, 2015 , and December 31, 2014 , 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. June 30, 2015 December 31, 2014 (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 $ 410,875 $ (398,412 ) $ 12,463 $ 515,904 $ (503,384 ) $ 12,520 OTC–cleared 209,740 (209,565 ) 175 398,518 (397,250 ) 1,268 Exchange-traded (a) — — — — — — Total interest rate contracts 620,615 (607,977 ) 12,638 914,422 (900,634 ) 13,788 Credit contracts: OTC 44,305 (43,547 ) 758 65,432 (64,904 ) 528 OTC–cleared 9,024 (9,021 ) 3 9,398 (9,398 ) — Total credit contracts 53,329 (52,568 ) 761 74,830 (74,302 ) 528 Foreign exchange contracts: OTC 184,282 (171,105 ) 13,177 217,998 (201,578 ) 16,420 OTC–cleared 92 (92 ) — 66 (66 ) — Exchange-traded (a) — — — — — — Total foreign exchange contracts 184,374 (171,197 ) 13,177 218,064 (201,644 ) 16,420 Equity contracts: OTC 29,022 (23,621 ) 5,401 27,908 (23,036 ) 4,872 OTC–cleared — — — — — — Exchange-traded (a) 14,292 (12,818 ) 1,474 12,864 (11,486 ) 1,378 Total equity contracts 43,314 (36,439 ) 6,875 40,772 (34,522 ) 6,250 Commodity contracts: OTC 18,424 (6,532 ) 11,892 25,129 (13,211 ) 11,918 OTC–cleared — — — — — — Exchange-traded (a) 12,512 (12,258 ) 254 18,486 (15,344 ) 3,142 Total commodity contracts 30,936 (18,790 ) 12,146 43,615 (28,555 ) 15,060 Derivative payables with appropriate legal opinions $ 932,568 $ (886,971 ) (b) $ 45,597 $ 1,291,703 $ (1,239,657 ) (b) $ 52,046 Derivative payables where an appropriate legal opinion has not been either sought or obtained 13,429 13,429 19,070 19,070 Total derivative payables recognized on the Consolidated balance sheets $ 945,997 $ 59,026 $ 1,310,773 $ 71,116 (a) Exchange-traded derivative balances that relate to futures contracts are settled daily. (b) Included cash collateral netted of $63.2 billion and $64.2 billion related to OTC and OTC-cleared derivatives at June 30, 2015 , and December 31, 2014 , 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, 2015 , and December 31, 2014 , 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 June 30, 2015 December 31, 2014 (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 $ 53,246 $ (13,214 ) (a) $ 40,032 $ 58,258 $ (16,194 ) (a) $ 42,064 Derivative payable collateral (b) June 30, 2015 December 31, 2014 (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 $ 45,597 $ (9,093 ) (a) $ 36,504 $ 52,046 $ (10,505 ) (a) $ 41,541 (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 2014 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, 2015 , and December 31, 2014 . OTC and OTC-cleared derivative payables containing downgrade triggers (in millions) June 30, 2015 December 31, 2014 Aggregate fair value of net derivative payables $ 29,340 $ 32,303 Collateral posted 24,006 27,585 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, 2015 and December 31, 2014 , 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 in termination payments 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 June 30, 2015 December 31, 2014 (in millions) Single-notch downgrade Two-notch downgrade Single-notch downgrade Two-notch downgrade Amount of additional collateral to be posted upon downgrade (a) $ 891 $ 3,422 $ 1,046 $ 3,331 Amount required to settle contracts with termination triggers upon downgrade (b) 264 1,005 366 1,388 (a) Includes the additional collateral to be posted for initial margin. (b) Amounts represent fair values of derivative payables, and do not reflect collateral posted. Derivatives executed in contemplation of a sale of the underlying financial asset In certain instances the Firm enters into transactions where it transfers financial assets but maintains the economic exposure to the transferred assets by entering into a derivative with the same counterparty in contemplation of the initial transfer. The Firm generally accounts for such transfers as collateralized financing transactions as described in Note 12, but in limited circumstances they may qualify to be accounted for as a sale and a derivative under U.S. GAAP. The amount of such transfers accounted for as a sale where the associated derivative was outstanding at June 30, 2015 was not material. 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, 2015 and 2014 , respectively. Gains/(losses) recorded in income Income statement impact due to: Three months ended June 30, 2015 (in millions) Derivatives Hedged items Total income statement impact Hedge ineffectiveness (d) Excluded components (e) Contract type Interest rate (a) $ (1,541 ) $ 1,709 $ 168 $ (19 ) $ 187 Foreign exchange (b) (2,118 ) 2,097 (21 ) — (21 ) Commodity (c) 242 (295 ) (53 ) (5 ) (48 ) Total $ (3,417 ) $ 3,511 $ 94 $ (24 ) $ 118 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 (d) Excluded components (e) 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: Six months ended June 30, 2015 (in millions) Derivatives Hedged items Total income statement impact Hedge ineffectiveness (d) Excluded components (e) Contract type Interest rate (a) $ (935 ) $ 1,461 $ 526 $ (2 ) $ 528 Foreign exchange (b) 4,357 (4,362 ) (5 ) — (5 ) Commodity (c) 564 (603 ) (39 ) (11 ) (28 ) Total $ 3,986 $ (3,504 ) $ 482 $ (13 ) $ 495 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 (d) Excluded components (e) 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 (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. (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) 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. (e) 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, 2015 and 2014 , respectively. Gains/(losses) recorded in income and other comprehensive income/(loss) Three months ended June 30, 2015 (in millions) Derivatives – effective portion reclassified from AOCI to income Hedge ineffectiveness recorded directly in income (c) Total income statement impact Derivatives – effective portion recorded in OCI Total change in OCI for period Contract type Interest rate (a) $ 22 $ — $ 22 $ (23 ) $ (45 ) Foreign exchange (b) (29 ) — (29 ) 143 172 Total $ (7 ) $ — $ (7 ) $ 120 $ 127 Gains/(losses) recorded in income and other comprehensive income/(loss) Three months ended June 30, 2014 (in millions) Derivatives – effective portion reclassified from AOCI to income Hedge ineffectiveness recorded directly in income (c) Total income statement impact Derivatives – effective portion recorded in OCI Total change 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) Six months ended June 30, 2015 (in millions) Derivatives – effective portion reclassified from AOCI to income Hedge ineffectiveness recorded directly in income (c) Total income statement impact Derivatives – effective portion recorded in OCI Total change in OCI for period Contract type Interest rate (a) $ (127 ) $ — $ (127 ) $ (20 ) $ 107 Foreign exchange (b) (55 ) — (55 ) 91 146 Total $ (182 ) $ — $ (182 ) $ 71 $ 253 Gains/(losses) recorded in income and other comprehensive income/(loss) Six months ended June 30, 2014 (in millions) Derivatives – effective portion reclassified from AOCI to income Hedge ineffectiveness recorded directly in income (c) Total income statement impact Derivatives – effective portion recorded in OCI Total change Contract type Interest rate (a) $ (36 ) $ — $ (36 ) $ 134 $ 170 Foreign exchange (b) 38 — 38 81 43 Total $ 2 $ — $ 2 $ 215 $ 213 (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, and for forecasted transactions that the Firm determined during the six months ended June 30, 2015, were probable of not occurring, in other 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) 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. In the first quarter of 2015, the Firm reclassified approximately $150 million of net losses from accumulated other comprehensive income (“AOCI”) to other income because the Firm determined that it was probable that the forecasted interest payment cash flows would not occur as a result of the planned reduction in wholesale non-operating deposits. The Firm did not experience any forecasted transactions that failed to occur for the three months ended June 30, 2015 and 2014, and six months ended June 30, 2014. Over the next 12 months, the Firm expects that $64 million (after-tax) of net gains recorded in AOCI at June 30, 2015 , related to cash flow hedges will be recognized in income. For terminated cash flow hedges, the maximum length of time over which forecasted transactions are remaining is approximately 9 years . For open cash flow hedges, the maximum length of time over which forecasted transactions are hedged is approximately 3 years . The Firm’s longer-dated forecasted transactions 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, 2015 and 2014 . Gains/(losses) recorded in income and other comprehensive income/(loss) 2015 2014 Three months ended June 30, (in millions) Excluded components recorded directly in income (a) Effective portion recorded in OCI Excluded components recorded directly in income (a) Effective portion recorded in OCI Foreign exchange derivatives $ (91 ) $ (250 ) $ (122 ) $ (208 ) Gains/(losses) recorded in income and 2015 2014 Six months ended June 30, (in millions) Excluded components recorded directly in income (a) Effective portion recorded in OCI Excluded components recorded directly in income (a) Effective portion recorded in OCI Foreign exchange derivatives $ (189 ) $ 743 $ (227 ) $ (362 ) (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 other 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 significant ineffectiveness for net investment hedge accounting relationships during the three and six months ended June 30, 2015 and 2014 . Gains and losses on derivatives used for specified risk management purposes The following table presents pretax gains/(losses) recorded on a limited number of derivatives, not designated in hedge accounting relationships, that are used to manage risks associated with certain specified assets and liabilities, including certain risks arising from the mortgage pipeline, warehouse loans, MSRs, wholesale lending exposures, AFS securities, foreign currency-denominated liabilities, and commodities-related contracts and investments. Derivatives gains/(losses) recorded in income Three months ended Six months ended (in millions) 2015 2014 2015 2014 Contract type Interest rate (a) $ (563 ) $ 589 $ 120 $ 1,107 Credit (b) (10 ) (24 ) (24 ) (41 ) Foreign exchange (c) 7 (3 ) (5 ) (3 ) Commodity (d) 23 (21 ) (13 ) 162 Total $ (543 ) $ 541 $ 78 $ 1,225 (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 assets and 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. All derivatives 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 2014 Annual Report. The Firm does not use notional amounts of credit derivatives as the primary measure of risk management for such derivatives, because the notional amount does not take into account the probability of the occurrence of a credit event, the recovery value of the reference obligation, or related cash instruments and economic hedges, each of which reduces, in the Firm’s view, the risks associated with such derivatives. Total credit derivatives and credit-related notes Maximum payout/Notional amount June 30, 2015 (in millions) Protection sold Protection purchased with identical underlyings (b) Net protection (sold)/purchased (c) Other protection purchased (d) Credit derivatives Credit default swaps $ (1,768,492 ) $ 1,789,168 $ 20,676 $ 15,001 Other credit derivatives (a) (47,465 ) 42,505 (4,960 ) 18,151 Total credit derivatives (1,815,957 ) 1,831,673 15,716 33,152 Credit-related notes (30 ) — (30 ) 4,408 Total $ (1,815,987 ) $ 1,831,673 $ 15,686 $ 37,560 Maximum payout/Notional amount December 31, 2014 (in millions) Protection sold Protection purchased with identical underlyings (b) Net protection (sold)/purchased (c) Other protection purchased (d) Credit derivatives Credit default swaps $ (2,056,982 ) $ 2,078,096 $ 21,114 $ 18,631 Other credit derivatives (a) (43,281 ) 32,048 (11,233 ) 19,475 Total credit derivatives (2,100,263 ) 2,110,144 9,881 38,106 Credit-related notes (40 ) — (40 ) 3,704 Total $ (2,100,303 ) $ 2,110,144 $ 9,841 $ 41,810 (a) Other credit derivatives predominantly consists of credit swap options. (b) Represents the total notional amount of protection purchased where the underlying reference instrument is identical to the reference instrument on protection sold; the notional amount of protection purchased for each individual identical underlying reference instrument may be greater or lower than the notional amount of protection sold. (c) Does not take into account the fair value of the reference obligation at the time of settlement, which would generally reduce the amount the seller of protection pays to the buyer of protection in determining settlement value. (d) Represents protection purchased by the Firm on referenced instruments (single-name, portfolio or index) where the Firm has not sold any protection on the identical reference instrument. The following tables summarize the notional amounts by the ratings and maturity profile, and the total fair value, of credit derivatives and credit-related notes as of June 30, 2015 , and December 31, 2014, 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, 2015 (in millions) < |
Noninterest Revenue
Noninterest Revenue | 6 Months Ended |
Jun. 30, 2015 | |
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 2014 Annual Report . The following table presents the components of investment banking fees. Three months ended June 30, Six months ended (in millions) 2015 2014 2015 2014 Underwriting Equity $ 452 $ 477 $ 851 $ 830 Debt 913 876 1,766 1,559 Total underwriting 1,365 1,353 2,617 2,389 Advisory 468 398 1,010 782 Total investment banking fees $ 1,833 $ 1,751 $ 3,627 $ 3,171 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 (in millions) 2015 2014 2015 2014 Trading revenue by instrument type Interest rate $ 420 $ 626 $ 1,306 $ 981 Credit 624 603 1,039 1,129 Foreign exchange 563 342 1,407 868 Equity 908 759 1,956 1,564 Commodity (a) 250 347 589 1,035 Total trading revenue 2,765 2,677 6,297 5,577 Private equity gains (b) 69 231 192 653 Principal transactions $ 2,834 $ 2,908 $ 6,489 $ 6,230 (a) 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. (b) Includes revenue on private equity investments held in the Private Equity business within Corporate, 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 (in millions) 2015 2014 2015 2014 Asset management fees Investment management fees (a) $ 2,416 $ 2,260 $ 4,690 $ 4,356 All other asset management fees (b) 99 131 198 254 Total asset management fees 2,515 2,391 4,888 4,610 Total administration fees (c) 527 564 1,034 1,091 Commission and other fees Brokerage commissions 592 567 1,186 1,199 All other commissions and fees 381 485 714 943 Total commissions and fees 973 1,052 1,900 2,142 Total asset management, administration and commissions $ 4,015 $ 4,007 $ 7,822 $ 7,843 (a) Represents fees earned from managing assets on behalf of the Firm’s 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 Other income on the Firm’s Consolidated statements of income included the following: Three months ended Six months ended (in millions) 2015 2014 2015 2014 Operating lease income $ 504 $ 422 $ 973 $ 820 |
Interest income and interest ex
Interest income and interest expense | 6 Months Ended |
Jun. 30, 2015 | |
Interest Income (Expense), Net [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 2014 Annual Report . Details of interest income and interest expense were as follows. Three months ended Six months ended (in millions) 2015 2014 2015 2014 Interest income Loans $ 8,079 $ 8,039 $ 16,026 $ 16,078 Taxable securities 1,608 1,940 3,332 3,840 Nontaxable securities (a) 423 337 821 654 Total securities 2,031 2,277 4,153 4,494 Trading assets 1,736 1,827 3,470 3,598 Federal funds sold and securities purchased under resale agreements 340 398 736 834 Securities borrowed (b) (159 ) (131 ) (279 ) (219 ) Deposits with banks 312 279 653 535 Other assets (c) 175 172 320 334 Total interest income 12,514 12,861 25,079 25,654 Interest expense Interest-bearing deposits 308 417 672 843 Short-term and other liabilities (d) 344 455 676 883 Long-term debt 1,068 1,086 2,162 2,253 Beneficial interests issued by consolidated VIEs 110 105 208 210 Total interest expense 1,830 2,063 3,718 4,189 Net interest income 10,684 10,798 21,361 21,465 Provision for credit losses 935 692 1,894 1,542 Net interest income after provision for credit losses $ 9,749 $ 10,106 $ 19,467 $ 19,923 (a) Represents securities which are tax-exempt for U.S. federal income tax purposes. (b) Negative interest income for the three and six months ended June 30, 2015 and 2014, is a result of increased client-driven demand for certain securities combined with the impact of low interest rates. This is matched book activity and the negative interest expense on the corresponding securities loaned is recognized in interest expense and reported within short-term and other liabilities. (c) Largely margin loans. (d) Includes brokerage customer payables. |
Pension and other postretiremen
Pension and other postretirement employee benefit plans | 6 Months Ended |
Jun. 30, 2015 | |
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 2014 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 ended June 30, (in millions) 2015 2014 2015 2014 2015 2014 Components of net periodic benefit cost Benefits earned during the period $ 85 $ 70 $ 10 $ 8 $ — $ — Interest cost on benefit obligations 125 134 28 36 8 9 Expected return on plan assets (233 ) (246 ) (37 ) (45 ) (27 ) (25 ) Amortization: Net (gain)/loss 61 7 9 12 — — Prior service cost/(credit) (8 ) (12 ) (1 ) — — — Net periodic defined benefit cost 30 (47 ) 9 11 (19 ) (16 ) Other defined benefit pension plans (a) 4 4 — 1 NA NA Total defined benefit plans 34 (43 ) 9 12 (19 ) (16 ) Total defined contribution plans 115 110 86 87 NA NA Total pension and OPEB cost included in compensation expense $ 149 $ 67 $ 95 $ 99 $ (19 ) $ (16 ) Pension plans U.S. Non-U.S. OPEB plans Six months ended June 30, (in millions) 2015 2014 2015 2014 2015 2014 Components of net periodic benefit cost Benefits earned during the period $ 170 $ 140 $ 19 $ 17 $ — $ — Interest cost on benefit obligations 250 268 56 70 16 18 Expected return on plan assets (465 ) (492 ) (75 ) (89 ) (53 ) (50 ) Amortization: Net (gain)/loss 123 13 18 24 — — Prior service cost/(credit) (17 ) (22 ) (1 ) — — — Net periodic defined benefit cost 61 (93 ) 17 22 (37 ) (32 ) Other defined benefit pension plans (a) 7 7 5 3 NA NA Total defined benefit plans 68 (86 ) 22 25 (37 ) (32 ) Total defined contribution plans 204 218 169 167 NA NA Total pension and OPEB cost included in compensation expense $ 272 $ 132 $ 191 $ 192 $ (37 ) $ (32 ) (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 $16.6 billion and $3.7 billion , as of June 30, 2015 , and $16.5 billion and $3.7 billion respectively, as of December 31, 2014. See Note 19 for further information on unrecognized amounts (i.e., net loss and prior service costs/(credit)) reflected in AOCI for the three months periods ended June 30, 2015 and 2014 . The Firm does not anticipate any contribution to the U.S. defined benefit pension plan in 2015 at this time. For 2015 , the cost associated with funding benefits under the Firm’s U.S. non-qualified defined benefit pension plans is expected to total $33 million . The 2015 contributions to the non-U.S. defined benefit pension and OPEB plans are expected to be $47 million and $2 million , respectively. |
Employee stock-based incentives
Employee stock-based incentives | 6 Months Ended |
Jun. 30, 2015 | |
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 2014 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 (in millions) 2015 2014 2015 2014 Cost of prior grants of restricted stock units (“RSUs”) and stock appreciation rights (“SARs”) that are amortized over their applicable vesting periods $ 295 $ 335 $ 587 $ 745 Accrual of estimated costs of stock awards to be granted in future periods including those to full-career eligible employees 215 189 488 397 Total noncash compensation expense related to employee stock-based incentive plans $ 510 $ 524 $ 1,075 $ 1,142 In the first quarter of 2015, in connection with its annual incentive grant for the 2014 performance year, the Firm granted 34 million RSUs with a weighted-average grant date fair value of $55.91 per RSU. |
Noninterest Expense
Noninterest Expense | 6 Months Ended |
Jun. 30, 2015 | |
Noninterest Expense [Abstract] | |
Noninterest expense | Noninterest expense Within noninterest expense on the Firm’s Consolidated statements of income, other expense included the following: Three months ended June 30, Six months ended June 30, (in millions) 2015 2014 2015 2014 Firmwide legal expense $ 291 $ 669 $ 978 $ 707 Federal Deposit Insurance Corporation-related (“FDIC”) expense $ 300 $ 266 $ 618 $ 559 |
Securities
Securities | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | Securities Securities are classified as trading, AFS or held-to-maturity (“HTM”). Securities classified as trading assets are discussed in Note 3. Predominantly all of the Firm’s AFS and HTM investment securities (the “investment securities portfolio”) are held by the Chief Investment Office (“CIO”) in connection with its asset-liability management objectives. At June 30, 2015, 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 2014 Annual Report. The amortized costs and estimated fair values of the investment securities portfolio were as follows for the dates indicated. June 30, 2015 December 31, 2014 (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) $ 55,634 $ 1,887 $ 206 $ 57,315 $ 63,089 $ 2,302 $ 72 $ 65,319 Residential: Prime and Alt-A 6,499 55 21 6,533 5,595 78 29 5,644 Subprime 494 11 — 505 677 14 — 691 Non-U.S. 31,777 763 5 32,535 43,550 1,010 — 44,560 Commercial 21,954 308 55 22,207 20,687 438 17 21,108 Total mortgage-backed securities 116,358 3,024 287 119,095 133,598 3,842 118 137,322 U.S. Treasury and government agencies (a) 11,600 16 26 11,590 13,603 56 14 13,645 Obligations of U.S. states and municipalities 29,986 1,609 171 31,424 27,841 2,243 16 30,068 Certificates of deposit 427 2 — 429 1,103 1 1 1,103 Non-U.S. government debt securities 41,837 999 44 42,792 51,492 1,272 21 52,743 Corporate debt securities 15,540 310 28 15,822 18,158 398 24 18,532 Asset-backed securities: Collateralized loan obligations 31,337 108 73 31,372 30,229 147 182 30,194 Other 10,831 136 11 10,956 12,442 184 11 12,615 Total available-for-sale debt securities 257,916 6,204 640 263,480 288,466 8,143 387 296,222 Available-for-sale equity securities 2,704 17 — 2,721 2,513 17 — 2,530 Total available-for-sale securities $ 260,620 $ 6,221 $ 640 $ 266,201 $ 290,979 $ 8,160 $ 387 $ 298,752 Total held-to-maturity securities (b) $ 51,594 $ 1,241 $ 138 $ 52,697 $ 49,252 $ 1,902 $ — $ 51,154 (a) Included total U.S. government-sponsored enterprise obligations with fair values of $45.5 billion and $59.3 billion at June 30, 2015, and December 31, 2014 , respectively. (b) As of June 30, 2015, consists of MBS issued by U. S. government-sponsored enterprises with an amortized cost of $33.3 billion , MBS issued by U.S. government agencies with an amortized cost of $5.9 billion and obligations of U.S. states and municipalities with an amortized cost of $12.4 billion . As of December 31, 2014, consists of MBS issued by U.S. government-sponsored enterprises with an amortized cost of $35.3 billion , MBS issued by U.S. government agencies with an amortized cost of $3.7 billion and obligations of U.S. states and municipalities with an amortized cost of $10.2 billion . Securities impairment The following tables present the fair value and gross unrealized losses for investment securities by aging category at June 30, 2015, and December 31, 2014. Securities with gross unrealized losses Less than 12 months 12 months or more June 30, 2015 (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 $ 6,755 $ 186 $ 913 $ 20 $ 7,668 $ 206 Residential: Prime and Alt-A 2,801 16 315 5 3,116 21 Subprime — — — — — — Non-U.S. 1,287 5 — — 1,287 5 Commercial 8,607 55 — — 8,607 55 Total mortgage-backed securities 19,450 262 1,228 25 20,678 287 U.S. Treasury and government agencies 8,778 26 — — 8,778 26 Obligations of U.S. states and municipalities 7,284 162 181 9 7,465 171 Certificates of deposit — — — — — — Non-U.S. government debt securities 3,527 35 240 9 3,767 44 Corporate debt securities 1,963 23 549 5 2,512 28 Asset-backed securities: Collateralized loan obligations 8,933 13 8,132 60 17,065 73 Other 2,401 10 80 1 2,481 11 Total available-for-sale debt securities 52,336 531 10,410 109 62,746 640 Available-for-sale equity securities — — — — — — Held-to-maturity securities 7,447 138 — — 7,447 138 Total securities with gross unrealized losses $ 59,783 $ 669 $ 10,410 $ 109 $ 70,193 $ 778 Securities with gross unrealized losses Less than 12 months 12 months or more December 31, 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 $ 1,118 $ 5 $ 4,989 $ 67 $ 6,107 $ 72 Residential: Prime and Alt-A 1,840 10 405 19 2,245 29 Subprime — — — — — — Non-U.S. — — — — — — Commercial 4,803 15 92 2 4,895 17 Total mortgage-backed securities 7,761 30 5,486 88 13,247 118 U.S. Treasury and government agencies 8,412 14 — — 8,412 14 Obligations of U.S. states and municipalities 1,405 15 130 1 1,535 16 Certificates of deposit 1,050 1 — — 1,050 1 Non-U.S. government debt securities 4,433 4 906 17 5,339 21 Corporate debt securities 2,492 22 80 2 2,572 24 Asset-backed securities: Collateralized loan obligations 13,909 76 9,012 106 22,921 182 Other 2,258 11 — — 2,258 11 Total available-for-sale debt securities 41,720 173 15,614 214 57,334 387 Available-for-sale equity securities — — — — — — Held-to-maturity securities — — — — — — Total securities with gross unrealized losses $ 41,720 $ 173 $ 15,614 $ 214 $ 57,334 $ 387 Gross unrealized losses The Firm has recognized the unrealized losses on securities it intends to sell. As of June 30, 2015, the Firm does not intend to sell any securities with a loss position in AOCI, and it is not likely that the Firm will be required to sell these securities before recovery of their amortized cost basis. Except for the securities for which credit losses have been recognized in income, the Firm believes that the securities with an unrealized loss in AOCI are not other-than-temporarily impaired as of June 30, 2015. 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 ended June 30, Six months ended June 30, (in millions) 2015 2014 2015 2014 Realized gains $ 94 $ 76 $ 185 $ 224 Realized losses (49 ) (64 ) (87 ) (180 ) OTTI losses (1 ) — (2 ) (2 ) Net securities gains $ 44 $ 12 96 42 OTTI losses Credit-related losses recognized in income — — (1 ) — Securities the Firm intends to sell (1 ) — (1 ) (2 ) Total OTTI losses recognized in income $ (1 ) $ — (2 ) (2 ) 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, 2015 and 2014, 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) 2015 2014 2015 2014 Balance, beginning of period $ 4 $ 1 $ 3 $ 1 Additions: Newly credit-impaired securities — — 1 — Balance, end of period $ 4 $ 1 $ 4 $ 1 Contractual maturities and yields The following table presents the amortized cost and estimated fair value at June 30, 2015, of JPMorgan Chase ’s investment securities portfolio by contractual maturity. By remaining maturity June 30, 2015 (in millions) Due in one year or less Due after one year through five years Due after five years through 10 years Due after 10 years (c) Total Available-for-sale debt securities Mortgage-backed securities (a) Amortized cost $ 2,132 $ 11,625 $ 5,621 $ 96,980 $ 116,358 Fair value 2,144 11,864 5,821 99,266 119,095 Average yield (b) 1.47 % 1.76 % 3.21 % 3.06 % 2.91 % U.S. Treasury and government agencies Amortized cost $ 600 $ — $ 9,937 $ 1,063 $ 11,600 Fair value 602 — 9,914 1,074 11,590 Average yield (b) 1.53 % — % 0.19 % 0.41 % 0.28 % Obligations of U.S. states and municipalities Amortized cost $ 159 $ 743 $ 1,297 $ 27,787 $ 29,986 Fair value 164 761 1,360 29,139 31,424 Average yield (b) 6.33 % 3.21 % 5.62 % 6.68 % 6.54 % Certificates of deposit Amortized cost $ 375 $ 52 $ — $ — $ 427 Fair value 376 53 — — 429 Average yield (b) 5.64 % 3.28 % — % — % 5.36 % Non-U.S. government debt securities Amortized cost $ 8,631 $ 13,015 $ 17,777 $ 2,414 $ 41,837 Fair value 8,651 13,305 18,297 2,539 42,792 Average yield (b) 3.28 % 1.87 % 0.99 % 0.87 % 1.73 % Corporate debt securities Amortized cost $ 3,417 $ 8,386 $ 3,594 $ 143 $ 15,540 Fair value 3,443 8,560 3,678 141 15,822 Average yield (b) 2.29 % 2.24 % 2.63 % 4.46 % 2.36 % Asset-backed securities Amortized cost $ 513 $ 609 $ 20,737 $ 20,309 $ 42,168 Fair value 515 614 20,798 20,401 42,328 Average yield (b) 0.99 % 1.55 % 1.75 % 1.77 % 1.75 % Total available-for-sale debt securities Amortized cost $ 15,827 $ 34,430 $ 58,963 $ 148,696 $ 257,916 Fair value 15,895 35,157 59,868 152,560 263,480 Average yield (b) 2.77 % 1.95 % 1.54 % 3.51 % 2.80 % Available-for-sale equity securities Amortized cost $ — $ — $ — $ 2,704 $ 2,704 Fair value — — — 2,721 2,721 Average yield (b) — % — % — % 0.20 % 0.20 % Total available-for-sale securities Amortized cost $ 15,827 $ 34,430 $ 58,963 $ 151,400 $ 260,620 Fair value 15,895 35,157 59,868 155,281 266,201 Average yield (b) 2.77 % 1.95 % 1.54 % 3.45 % 2.78 % Total held-to-maturity securities Amortized cost $ — $ 53 $ 643 $ 50,898 $ 51,594 Fair value — 52 666 51,979 52,697 Average yield (b) — 4.35 % 4.86 % 3.96 % 3.97% (a) U.S. government-sponsored enterprises were the only issuers whose securities exceeded 10% of JPMorgan Chase ’s total stockholders’ equity at June 30, 2015. (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 weighted-average life, which reflects anticipated future prepayments, is approximately six years for agency residential mortgage-backed securities, three years for agency residential collateralized mortgage obligations and five years for U.S. nonagency residential collateralized mortgage obligations. |
Securities Financing Activities
Securities Financing Activities | 6 Months Ended |
Jun. 30, 2015 | |
Securities Financing Transactions Disclosures [Abstract] | |
Securities financing activities | Securities financing activities JPMorgan Chase enters into resale agreements, repurchase agreements, securities borrowed transactions and securities loaned transactions (collectively, “securities financing agreements”) primarily to finance the Firm’s inventory positions, acquire securities to cover short positions, accommodate customers’ financing needs, and settle other securities obligations. Securities financing agreements are treated as collateralized financings on the Firm’s Consolidated balance sheets. Resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased. Securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received. Where appropriate under applicable accounting guidance, resale and repurchase agreements with the same counterparty are reported on a net basis. For further discussion of the offsetting of assets and liabilities, see Note 1. Fees received and paid in connection with securities financing agreements are recorded in interest income and interest expense on the Consolidated statements of income. The Firm has elected the fair value option for certain securities financing agreements. For further information regarding the fair value option, see Note 4. The securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements; securities loaned or sold under repurchase agreements; and securities borrowed on the Consolidated balance sheets. Generally, for agreements carried at fair value, current-period interest accruals are recorded within interest income and interest expense, with changes in fair value reported in principal transactions revenue. However, for financial instruments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments, all changes in fair value, including any interest elements, are reported in principal transactions revenue. Secured financing transactions expose the Firm to credit and liquidity risk. To manage these risks, the Firm monitors the value of the underlying securities (predominantly high-quality securities collateral, including government-issued debt and agency MBS) that it has received from or provided to its counterparties compared to the value of cash proceeds and exchanged collateral and either requests additional collateral or returns securities or collateral when appropriate. Margin levels are initially established based upon the counterparty, the type of underlying securities, and the permissible collateral, and are monitored on an ongoing basis. In resale agreements and securities borrowed transactions, the Firm is exposed to credit risk to the extent the value of the securities received is less than initial cash proceeds and any collateral amounts exchanged. In repurchase agreements and securities loaned transactions, credit risk exposure arises to the extent that the value of underlying securities exceeds the value of the initial cash proceeds and, any collateral amounts exchanged. Additionally, the Firm typically enters into master netting agreements and other similar arrangements with its counterparties, which provide for the right to liquidate the underlying securities and any collateral amounts exchanged in the event of a counterparty default. It is also the Firm’s policy to take possession, where possible, of the securities underlying resale agreements and securities borrowed transactions. The following table presents as of June 30, 2015 , and December 31, 2014 , 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, 2015 December 31, 2014 (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 $ 375,619 $ (166,295 ) $ 209,324 $ 347,142 $ (142,719 ) $ 204,423 Securities purchased under resale agreements where an appropriate legal opinion has not been either sought or obtained 2,745 2,745 10,598 10,598 Total securities purchased under resale agreements $ 378,364 $ (166,295 ) $ 212,069 (a) $ 357,740 $ (142,719 ) $ 215,021 (a) Securities borrowed $ 98,528 NA $ 98,528 (b)(c) $ 110,435 NA $ 110,435 (b)(c) (a) At June 30, 2015 , and December 31, 2014 , included securities purchased under resale agreements of $28.7 billion and $28.6 billion , respectively, accounted for at fair value. (b) At June 30, 2015 , and December 31, 2014 , included securities borrowed of $495 million and $992 million , respectively, accounted for at fair value. (c) Included $19.2 billion and $27.7 billion at June 30, 2015 , and December 31, 2014 , 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, 2015 , and December 31, 2014 , 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 table below excludes information related to resale agreements and securities borrowed where such a legal opinion has not been either sought or obtained. June 30, 2015 December 31, 2014 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 $ 209,324 $ (204,772 ) $ (142 ) $ 4,410 $ 204,423 $ (201,375 ) $ (246 ) $ 2,802 Securities borrowed $ 79,375 $ (76,735 ) $ — $ 2,640 $ 82,748 $ (80,338 ) $ — $ 2,410 (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, 2015 , and December 31, 2014 , 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, 2015 December 31, 2014 (in millions) Gross liability balance Amounts netted on the Consolidated balance sheets Net liability balance Gross liability balance Amounts netted Net liability balance Securities sold under repurchase agreements Securities sold under repurchase agreements with an appropriate legal opinion $ 316,227 $ (166,295 ) $ 149,932 $ 290,529 $ (142,719 ) $ 147,810 Securities sold under repurchase agreements where an appropriate legal opinion has not been either sought or obtained (a) 15,692 15,692 21,996 21,996 Total securities sold under repurchase agreements $ 331,919 $ (166,295 ) $ 165,624 (c) $ 312,525 $ (142,719 ) $ 169,806 (c) Securities loaned (b) $ 19,368 NA $ 19,368 (d)(e) $ 25,927 NA $ 25,927 (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 lending transactions of $5.1 billion and $4.1 billion at June 30, 2015 , and December 31, 2014 , respectively, where the Firm is acting as lender. These amounts are presented within other liabilities in the Consolidated balance sheets. (c) At June 30, 2015 , and December 31, 2014 , included securities sold under repurchase agreements of $3.6 billion and $3.0 billion , respectively, accounted for at fair value. (d) There were no securities loaned accounted for at fair value as of June 30, 2015 , and December 31, 2014 . (e) Included $189 million and $271 million at June 30, 2015 , and December 31, 2014 , respectively, of securities loaned where an appropriate legal opinion has not been either sought or obtained with respect to the master netting agreement. The following table presents information as of June 30, 2015 , and December 31, 2014 , 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 table below excludes information related to repurchase agreements and securities loaned where such a legal opinion has not been either sought or obtained. June 30, 2015 December 31, 2014 Amounts not nettable on the Consolidated balance sheets (a) Amounts not nettable 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 $ 149,932 $ (146,975 ) $ (443 ) $ 2,514 $ 147,810 $ (145,732 ) $ (497 ) $ 1,581 Securities loaned $ 19,179 $ (19,054 ) $ — $ 125 $ 25,656 $ (25,287 ) $ — $ 369 (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. Effective April 1, 2015, the Firm adopted new accounting guidance, which requires enhanced disclosures with respect to the types of financial assets pledged in secured financing transactions and the remaining contractual maturity of the secured financing transactions; the following tables present this information as of June 30, 2015 . Gross liability balance June 30, 2015 (in millions) Securities sold under repurchase agreements Securities loaned Mortgage-backed securities $ 21,387 $ — U.S. Treasury and government agencies 166,724 23 Obligations of U.S. states and municipalities 2,031 — Non-U.S. government debt 90,644 1,027 Corporate debt securities 26,878 92 Asset-backed securities 5,262 — Equity securities 18,993 18,226 Total $ 331,919 $ 19,368 Remaining contractual maturity of the agreements Overnight and Continuous Greater than 90 days June 30, 2015 (in millions) Up to 30 days 30 – 90 days Total Total securities sold under repurchase agreements $ 118,368 $ 127,483 $ 28,003 $ 58,065 $ 331,919 Total securities loaned 7,055 838 — 11,475 19,368 Transfers not qualifying for sale accounting At June 30, 2015 , and December 31, 2014 , the Firm held $11.5 billion and $13.8 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 and loans, and the corresponding liabilities are recorded predominantly in other borrowed funds on the Consolidated balance sheets. |
Loans
Loans | 6 Months Ended |
Jun. 30, 2015 | |
Loans and Leases Receivable Disclosure [Line Items] | |
Loans | Loans Loan accounting framework The accounting for a loan depends on management’s strategy for the loan, and on whether the loan was credit-impaired at the date of acquisition. The Firm accounts for loans based on the following categories: • Originated or purchased loans held-for-investment (i.e., “retained”), other than purchased credit-impaired (“PCI”) loans • Loans held-for-sale • Loans at fair value • PCI loans held-for-investment For a detailed discussion of loans, including accounting policies, see Note 14 of JPMorgan Chase ’s 2014 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 (a) Credit card Wholesale (c) Residential real estate – excluding PCI • Home equity – senior lien • Home equity – junior lien • Prime mortgage, including option ARMs • 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 • Credit card loans • Commercial and industrial • Real estate • Financial institutions • Government agencies • Other (d) (a) Includes loans held in CCB, prime mortgage and home equity loans held in AM and prime mortgage loans held in Corporate. (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, AM and Corporate. Excludes prime mortgage and home equity loans held in AM and prime mortgage loans held in Corporate. Classes are internally defined and may not align with regulatory definitions. (d) Other primarily includes loans to SPEs and loans to private banking clients. See Note 1 of JPMorgan Chase ’s 2014 Annual Report for additional information on special-purpose entities (“SPEs”). The following tables summarize the Firm’s loan balances by portfolio segment. June 30, 2015 Consumer, excluding credit card Credit card (a) Wholesale Total (in millions) Retained $ 316,781 $ 124,705 $ 338,219 $ 779,705 (b) Held-for-sale 1,505 1,320 6,286 9,111 At fair value — — 2,431 2,431 Total $ 318,286 $ 126,025 $ 346,936 $ 791,247 December 31, 2014 Consumer, excluding credit card Credit card (a) Wholesale Total (in millions) Retained $ 294,979 $ 128,027 $ 324,502 $ 747,508 (b) Held-for-sale 395 3,021 3,801 7,217 At fair value — — 2,611 2,611 Total $ 295,374 $ 131,048 $ 330,914 $ 757,336 (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 $919 million and $1.3 billion at June 30, 2015 , and December 31, 2014 , respectively. 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. 2015 2014 Three months ended June 30, (in millions) Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Purchases $ 1,114 (a)(b) $ — $ 487 $ 1,601 $ 2,167 (a)(b) $ — $ 156 $ 2,323 Sales 1,207 1,092 3,076 5,375 1,352 — 2,323 3,675 Retained loans reclassified to held-for-sale 1,254 — 115 1,369 802 215 212 1,229 2015 2014 Six months ended June 30, Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Purchases $ 2,722 (a)(b) $ — $ 695 $ 3,417 $ 3,749 (a)(b) $ — $ 277 $ 4,026 Sales 2,943 1,269 5,525 9,737 2,243 — 4,679 6,922 Retained loans reclassified to held-for-sale 1,272 — 435 1,707 802 215 509 1,526 (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 $14.2 billion and $2.4 billion for the three months ended June 30, 2015 and 2014 , respectively, and $25.4 billion and $4.1 billion for the six months ended June 30, 2015 and 2014 , respectively. The following table provides information about gains and losses, including lower of cost or fair value adjustments, on loan sales by portfolio segment. Three months ended Six months ended (in millions) 2015 2014 2015 2014 Net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) (a) Consumer, excluding credit card $ 86 $ 84 $ 177 $ 126 Credit card (7 ) — 9 — Wholesale 5 3 (1 ) 27 Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) $ 84 $ 87 $ 185 $ 153 (a) Excludes sales related to loans accounted for at fair value. |
Consumer, excluding credit card | |
Loans and Leases Receivable Disclosure [Line Items] | |
Loans | Consumer, excluding credit card loan portfolio Consumer loans, excluding credit card loans, consist primarily of residential mortgages, home equity loans and lines of credit, auto loans, business banking loans, and student and other loans, with a focus on serving the prime consumer credit market. The portfolio also includes home equity loans secured by junior liens, prime mortgage loans with an interest-only payment period, and certain payment-option loans originated by Washington Mutual that may result in negative amortization. The table below provides information about retained consumer loans, excluding credit card, by class. (in millions) June 30, December 31, Residential real estate – excluding PCI Home equity: Senior lien $ 15,541 $ 16,367 Junior lien 33,434 36,375 Mortgages: Prime, including option ARMs 132,556 104,921 Subprime 3,976 5,056 Other consumer loans Auto 56,330 54,536 Business banking 20,564 20,058 Student and other 10,574 10,970 Residential real estate – PCI Home equity 16,088 17,095 Prime mortgage 9,553 10,220 Subprime mortgage 3,449 3,673 Option ARMs 14,716 15,708 Total retained loans $ 316,781 $ 294,979 For further information on consumer credit quality indicators, see Note 14 of JPMorgan Chase ’s 2014 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. Residential real estate – excluding PCI loans Home equity Mortgages (in millions, except ratios) Senior lien Junior lien Prime, including option ARMs Subprime Total residential real estate – excluding PCI Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Loan delinquency (a) Current $ 14,950 $ 15,730 $ 32,746 $ 35,575 $ 122,597 $ 93,951 $ 3,346 $ 4,296 $ 173,639 $ 149,552 30–149 days past due 243 275 442 533 3,417 4,091 405 489 4,507 5,388 150 or more days past due 348 362 246 267 6,542 6,879 225 271 7,361 7,779 Total retained loans $ 15,541 $ 16,367 $ 33,434 $ 36,375 $ 132,556 $ 104,921 $ 3,976 $ 5,056 $ 185,507 $ 162,719 % of 30+ days past due to total retained loans (b) 3.80 % 3.89 % 2.06 % 2.20 % 0.98 % 1.42 % 15.85 % 15.03 % 1.73 % 2.27 % 90 or more days past due and government guaranteed (c) $ — $ — $ — $ — $ 6,805 $ 7,544 $ — $ — $ 6,805 $ 7,544 Nonaccrual loans 907 938 1,461 1,590 1,960 2,190 855 1,036 5,183 5,754 Current estimated LTV ratios (d)(e)(f) Greater than 125% and refreshed FICO scores: Equal to or greater than 660 $ 16 $ 21 $ 310 $ 467 $ 98 $ 120 $ 4 $ 10 $ 428 $ 618 Less than 660 7 10 81 138 67 103 25 51 180 302 101% to 125% and refreshed FICO scores: Equal to or greater than 660 100 134 2,421 3,149 455 648 43 118 3,019 4,049 Less than 660 54 69 683 923 265 340 163 298 1,165 1,630 80% to 100% and refreshed FICO scores: Equal to or greater than 660 506 633 5,551 6,481 3,188 3,863 199 432 9,444 11,409 Less than 660 188 226 1,557 1,780 802 1,026 516 770 3,063 3,802 Less than 80% and refreshed FICO scores: Equal to or greater than 660 12,571 13,048 19,555 20,030 111,229 81,805 1,418 1,586 144,773 116,469 Less than 660 2,099 2,226 3,276 3,407 5,028 4,906 1,608 1,791 12,011 12,330 U.S. government-guaranteed — — — — 11,424 12,110 — — 11,424 12,110 Total retained loans $ 15,541 $ 16,367 $ 33,434 $ 36,375 $ 132,556 $ 104,921 $ 3,976 $ 5,056 $ 185,507 $ 162,719 Geographic region California $ 2,135 $ 2,232 $ 7,455 $ 8,144 $ 37,253 $ 28,133 $ 558 $ 718 $ 47,401 $ 39,227 New York 2,699 2,805 7,125 7,685 18,428 16,550 555 677 28,807 27,717 Illinois 1,244 1,306 2,411 2,605 9,086 6,654 157 207 12,898 10,772 Texas 1,703 1,845 1,007 1,087 6,844 4,935 154 177 9,708 8,044 Florida 829 861 1,759 1,923 5,737 5,106 445 632 8,770 8,522 New Jersey 641 654 2,083 2,233 4,290 3,361 185 227 7,199 6,475 Arizona 868 927 1,462 1,595 2,445 1,805 79 112 4,854 4,439 Washington 474 506 1,111 1,216 3,164 2,410 88 109 4,837 4,241 Michigan 694 736 771 848 1,489 1,203 86 121 3,040 2,908 Ohio 1,084 1,150 704 778 864 615 89 112 2,741 2,655 All other (g) 3,170 3,345 7,546 8,261 42,956 34,149 1,580 1,964 55,252 47,719 Total retained loans $ 15,541 $ 16,367 $ 33,434 $ 36,375 $ 132,556 $ 104,921 $ 3,976 $ 5,056 $ 185,507 $ 162,719 (a) Individual delinquency classifications include mortgage loans insured by U.S. government agencies as follows: current included $2.8 billion and $2.6 billion ; 30 – 149 days past due included $2.9 billion and $3.5 billion ; and 150 or more days past due included $5.7 billion and $6.0 billion at June 30, 2015 , and December 31, 2014 , respectively. (b) At June 30, 2015 , and December 31, 2014 , Prime, including option ARMs loans excluded mortgage loans insured by U.S. government agencies of $8.7 billion and $9.5 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, were excluded from nonaccrual loans as the loans are guaranteed by U.S government agencies. Typically, the principal balance of the loans is insured and interest is guaranteed at a specified reimbursement rate subject to meeting agreed-upon servicing guidelines. At June 30, 2015 , and December 31, 2014 , these balances included $4.0 billion and $4.2 billion , respectively, of loans that are no longer accruing interest based on the agreed-upon servicing guidelines. For the remaining balance, interest is being accrued at the guaranteed reimbursement rate. There were no loans not guaranteed by U.S. government agencies that are 90 or more days past due and still accruing at June 30, 2015 , and December 31, 2014 . (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 loan-to-value (“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, 2015 , and December 31, 2014 , included mortgage loans insured by U.S. government agencies of $11.4 billion and $12.1 billion , respectively. The following table represents the Firm’s delinquency statistics for junior lien home equity loans and lines as of June 30, 2015 , and December 31, 2014 . Total loans Total 30+ day delinquency rate (in millions, except ratios) Jun 30, Dec 31, Jun 30, Dec 31, HELOCs: (a) Within the revolving period (b) $ 21,023 $ 25,252 1.61 % 1.75 % Beyond the revolving period 9,637 7,979 2.84 3.16 HELOANs 2,774 3,144 2.70 3.34 Total $ 33,434 $ 36,375 2.06 % 2.20 % (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 15 of JPMorgan Chase ’s 2014 Annual Report . Home equity Mortgages Total residential real estate – excluding PCI (in millions) Senior lien Junior lien Prime, including option ARMs Subprime Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Impaired loans With an allowance $ 556 $ 552 $ 728 $ 722 $ 4,034 $ 4,949 $ 1,445 $ 2,239 $ 6,763 $ 8,462 Without an allowance (a) 521 549 551 582 1,059 1,196 506 639 2,637 2,966 Total impaired loans (b)(c) $ 1,077 $ 1,101 $ 1,279 $ 1,304 $ 5,093 $ 6,145 $ 1,951 $ 2,878 $ 9,400 $ 11,428 Allowance for loan losses related to impaired loans $ 79 $ 84 $ 132 $ 147 $ 96 $ 127 $ 15 $ 64 $ 322 $ 422 Unpaid principal balance of impaired loans (d) 1,410 1,451 2,516 2,603 6,579 7,813 3,013 4,200 13,518 16,067 Impaired loans on nonaccrual status (e) 609 628 609 632 1,433 1,559 752 931 3,403 3,750 (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. At June 30, 2015, Chapter 7 residential real estate loans included approximately 18% of senior lien home equity, 10% of junior lien home equity, 22% of prime mortgages, including option ARMs, and 14% of subprime mortgages that were 30 days or more past due. (b) At June 30, 2015 , and December 31, 2014 , $4.5 billion and $4.9 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, 2015 , and December 31, 2014 . 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, 2015 , and December 31, 2014 , nonaccrual loans included $2.6 billion and $2.9 billion , respectively, of TDRs for which the borrowers were less than 90 days past due. For additional information about loans modified in a TDR that are on nonaccrual status refer to the Loan accounting framework in Note 14 of JPMorgan Chase ’s 2014 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 impaired loans (a) Interest income on impaired loans on a cash basis (a) (in millions) 2015 2014 2015 2014 2015 2014 Home equity Senior lien $ 1,085 $ 1,128 $ 13 $ 14 $ 9 $ 10 Junior lien 1,286 1,316 20 20 13 13 Mortgages Prime, including option ARMs 5,605 6,823 55 66 12 14 Subprime 2,548 3,578 35 47 11 13 Total residential real estate – excluding PCI $ 10,524 $ 12,845 $ 123 $ 147 $ 45 $ 50 Six months ended June 30, Average impaired loans Interest income on (a) Interest income on impaired (a) (in millions) 2015 2014 2015 2014 2015 2014 Home equity Senior lien $ 1,090 $ 1,135 $ 26 $ 28 $ 18 $ 19 Junior lien 1,292 1,318 40 41 26 27 Mortgages Prime, including option ARMs 5,828 6,889 114 134 24 27 Subprime 2,684 3,623 72 96 22 26 Total residential real estate – excluding PCI $ 10,894 $ 12,965 $ 252 $ 299 $ 90 $ 99 (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. Modifications of residential real estate loans, excluding PCI loans, are generally accounted for and reported as TDRs. There were no additional commitments to lend to borrowers whose residential real estate loans, excluding PCI loans, have been modified in TDRs. The following table presents new TDRs reported by the Firm. Three months ended June 30, Six months ended June 30, (in millions) 2015 2014 2015 2014 Home equity: Senior lien $ 32 $ 20 $ 58 $ 47 Junior lien 43 46 89 104 Mortgages: Prime, including option ARMs 58 52 121 119 Subprime 15 25 34 53 Total residential real estate – excluding PCI $ 148 $ 143 $ 302 $ 323 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. Three months ended June 30, Home equity Mortgages Total residential real estate - excluding PCI Senior lien Junior lien Prime, including option ARMs Subprime 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 Number of loans approved for a trial modification 294 218 93 157 294 261 367 529 1,048 1,165 Number of loans permanently modified 314 226 642 699 347 386 395 493 1,698 1,804 Concession granted: (a) Interest rate reduction 75 % 64 % 75 % 88 % 76 % 65 % 71 % 68 % 74 % 75 % Term or payment extension 85 86 88 83 84 79 78 71 84 79 Principal and/or interest deferred 32 12 23 22 36 30 18 15 26 20 Principal forgiveness 4 30 4 29 23 22 30 35 14 29 Other (b) — — 1 — 8 18 10 9 4 6 Six months ended June 30, Home equity Mortgages Total residential real estate - excluding PCI Senior lien Junior lien Prime, including option ARMs Subprime 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 Number of loans approved for a trial modification 650 419 247 341 539 516 789 1,028 2,225 2,304 Number of loans permanently modified 576 521 1,150 1,657 708 917 884 1,260 3,318 4,355 Concession granted: (a) Interest rate reduction 75 % 65 % 76 % 86 % 69 % 62 % 71 % 63 % 73 % 72 % Term or payment extension 83 83 87 83 84 84 80 72 84 80 Principal and/or interest deferred 32 14 25 22 36 32 22 18 28 22 Principal forgiveness 6 30 4 28 26 27 31 38 16 31 Other (b) — — — — 8 17 11 12 5 7 (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 exclude 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 Senior lien Junior lien Prime, including option ARMs Subprime 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 Weighted-average interest rate of loans with interest rate reductions – before TDR 5.88 % 6.58 % 4.65 % 4.94 % 5.15 % 5.17 % 6.55 % 7.28 % 5.48 % 5.82 % Weighted-average interest rate of loans with interest rate reductions – after TDR 2.89 2.93 2.23 2.04 2.50 2.54 3.16 3.47 2.65 2.72 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR 17 17 19 19 25 25 24 24 22 23 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR 31 29 33 34 38 37 36 35 35 35 Charge-offs recognized upon permanent modification $ — $ — $ 1 $ 8 $ 2 $ 2 $ 1 $ — $ 4 $ 10 Principal deferred 4 1 3 3 11 10 3 4 21 18 Principal forgiven 1 3 — 6 7 8 7 11 15 28 Balance of loans that redefaulted within one year of permanent modification (a) $ 4 $ 4 $ 1 $ 3 $ 21 $ 44 $ 16 $ 28 $ 42 $ 79 Six months ended June 30, Home equity Mortgages Total residential real estate – excluding PCI Senior lien Junior lien Prime, including option ARMs Subprime 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 Weighted-average interest rate of loans with interest rate reductions – before TDR 5.98 % 6.63 % 4.79 % 4.83 % 5.09 % 5.20 % 6.69 % 7.44 % 5.58 % 5.88 % Weighted-average interest rate of loans with interest rate reductions – after TDR 2.81 2.98 2.22 1.91 2.44 2.67 3.19 3.43 2.65 2.75 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR 17 18 19 19 25 24 24 24 23 23 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR 31 30 34 35 38 37 36 36 36 36 Charge-offs recognized upon permanent modification $ — $ 1 $ 2 $ 22 $ 3 $ 4 $ 2 $ 1 $ 7 $ 28 Principal deferred 7 2 6 6 22 23 10 11 45 42 Principal forgiven 2 6 — 17 16 25 17 32 35 80 Balance of loans that redefaulted within one year of permanent modification (a) $ 6 $ 10 $ 3 $ 6 $ 37 $ 70 $ 31 $ 43 $ 77 $ 129 (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. At June 30, 2015 , 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, 8 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). Active and suspended foreclosure At June 30, 2015 , and December 31, 2014 , the Firm had non-PCI residential real estate loans, excluding those insured by U.S. government agencies, with a carrying value of $1.3 billion and $1.5 billion , respectively, that were not included in REO, but were in the process of active or suspended foreclosure. 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, Loan delinquency (a) Current $ 55,793 $ 53,866 $ 20,258 $ 19,710 $ 9,825 $ 10,080 $ 85,876 $ 83,656 30–119 days past due 530 663 191 208 485 576 1,206 1,447 120 or more days past due 7 7 115 140 264 314 386 461 Total retained loans $ 56,330 $ 54,536 $ 20,564 $ 20,058 $ 10,574 $ 10,970 $ 87,468 $ 85,564 % of 30+ days past due to total retained loans 0.95 % 1.23 % 1.49 % 1.73 % 1.92 % (d) 2.15 % (d) 1.20 % (d) 1.47 % (d) 90 or more days past due and still accruing (b) $ — $ — $ — $ — $ 282 $ 367 $ 282 $ 367 Nonaccrual loans 97 115 239 279 253 270 589 664 Geographic region California $ 6,671 $ 6,294 $ 3,206 $ 3,008 $ 1,102 $ 1,143 $ 10,979 $ 10,445 New York 3,682 3,662 3,180 3,187 1,236 1,259 8,098 8,108 Illinois 3,366 3,175 1,388 1,373 706 729 5,460 5,277 Texas 5,893 5,608 2,592 2,626 852 868 9,337 9,102 Florida 2,517 2,301 899 827 528 521 3,944 3,649 New Jersey 1,972 1,945 504 451 392 378 2,868 2,774 Arizona 1,947 2,003 1,174 1,083 239 239 3,360 3,325 Washington 1,066 1,019 267 258 222 235 1,555 1,512 Michigan 1,586 1,633 1,376 1,375 442 466 3,404 3,474 Ohio 2,284 2,157 1,357 1,354 594 629 4,235 4,140 All other 25,346 24,739 4,621 4,516 4,261 4,503 34,228 33,758 Total retained loans $ 56,330 $ 54,536 $ 20,564 $ 20,058 $ 10,574 $ 10,970 $ 87,468 $ 85,564 Loans by risk ratings (c) Noncriticized $ 10,173 $ 9,822 $ 15,012 $ 14,619 NA NA $ 25,185 $ 24,441 Criticized performing 83 35 744 708 NA NA 827 743 Criticized nonaccrual — — 191 213 NA NA 191 213 (a) Individual delinquency classifications included loans insured by U.S. government agencies under the Federal Family Education Loan Program (“FFELP”) as follows: current included $4.1 billion and $4.3 billion ; 30 - 119 days past due included $303 million and $364 million ; and 120 or more days past due included $243 million and $290 million at June 30, 2015 , and December 31, 2014 , respectively. (b) These amounts represent student loans, which are insured by U.S. government agencies under the FFELP. These amounts were accruing as reimbursement of insured amounts is proceeding normally. (c) For risk-rated business banking and auto loans, the primary credit quality indicator is the risk rating of the loan, including whether the loans are considered to be criticized and/or nonaccrual. (d) June 30, 2015 , and December 31, 2014 , excluded loans 30 days or more past due and still accruing, which are insured by U.S. government agencies under the FFELP, of $546 million and $654 million , respectively. These amounts were excluded as reimbursement of insured amounts is proceeding normally. Other consumer impaired loans and loan modifications The table below sets forth information about the Firm’s other consumer impaired loans, including risk-rated business banking and auto loans that have been placed on nonaccrual status, and loans that have been modified in TDRs. (in millions) June 30, December 31, Impaired loans With an allowance $ 529 $ 557 Without an allowance (a) 31 35 Total impaired loans (b)(c) $ 560 $ 592 Allowance for loan losses related to impaired loans $ 114 $ 117 Unpaid principal balance of impaired loans (d) 682 719 Impaired loans on nonaccrual status 440 456 (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) Other consumer average impaired loans were $566 million and $600 million for the three months ended June 30, 2015 and 2014 , respectively, and $576 million and $599 million for the six months ended June 30, 2015 and 2014 , respectively. 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, 2015 and 2014 . (d) Represents the contractual amount of principal owed at June 30, 2015 , and December 31, 2014 . 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. Loan modifications Certain other consumer loan modifications are considered to be TDRs as they provide various concessions to borrowers who are experiencing financial difficulty. All of these TDRs are reported as impaired loans in the table above. See Note 14 of JPMorgan Chase’s 2014 Annual Report for further information on other consumer loans modified in TDRs. The following table provides information about the Firm’s other consumer loans modified in TDRs. New TDRs were not material for the three and six months ended June 30, 2015 and 2014. (in millions) June 30, December 31, Loans modified in TDRs (a)(b) $ 407 $ 442 TDRs on nonaccrual status 287 306 (a) The impact of these modifications was not material to the Firm for the three and six months ended June 30, 2015 and 2014 . (b) Additional commitments to lend to borrowers whose loans have been modified in TDRs as of June 30, 2015 , and December 31, 2014 , were immaterial. Purchased credit-impaired loans For a detailed discussion of PCI loans, including the related accounting policies, see Note 14 of JPMorgan Chase ’s 2014 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, Carrying value (a) $ 16,088 $ 17,095 $ 9,553 $ 10,220 $ 3,449 $ 3,673 $ 14,716 $ 15,708 $ 43,806 $ 46,696 Related allowance for loan losses (b) 1,758 1,758 1,083 1,193 180 180 194 194 3,215 3,325 Loan delinquency (based on unpaid principal balance) Current $ 15,411 $ 16,295 $ 8,473 $ 8,912 $ 3,416 $ 3,565 $ 13,116 $ 13,814 $ 40,416 $ 42,586 30–149 days past due 326 445 395 500 451 536 707 858 1,879 2,339 150 or more days past due 759 1,000 712 837 464 551 1,515 1,824 3,450 4,212 Total loans $ 16,496 $ 17,740 $ 9,580 $ 10,249 $ 4,331 $ 4,652 $ 15,338 $ 16,496 $ 45,745 $ 49,137 % of 30+ days past due to total loans 6.58 % 8.15 % 11.56 % 13.05 % 21.13 % 23.37 % 14.49 % 16.26 % 11.65 % 13.33 % Current estimated LTV ratios (based on unpaid principal balance) (c)(d) Greater than 125% and refreshed FICO scores: Equal to or greater than 660 $ 350 $ 513 $ 24 $ 45 $ 21 $ 34 $ 54 $ 89 $ 449 $ 681 Less than 660 180 273 58 97 103 160 86 150 427 680 101% to 125% and refreshed FICO scores: Equal to or greater than 660 1,788 2,245 308 456 143 215 392 575 2,631 3,491 Less than 660 835 1,073 282 402 367 509 528 771 2,012 2,755 80% to 100% and refreshed FICO scores: Equal to or greater than 660 3,868 4,171 1,674 2,154 456 519 1,937 2,418 7,935 9,262 Less than 660 1,490 1,647 1,100 1,316 879 1,006 1,640 1,996 5,109 5,965 Lower than 80% and refreshed FICO scores: Equal to or greater than 660 5,979 5,824 3,894 3,663 785 719 6,762 6,593 17,420 16,799 Less than 660 2,006 1,994 2,240 2,116 1,577 1,490 3,939 3,904 9,762 9,504 Total unpaid principal balance $ 16,496 $ 17,740 $ 9,580 $ 10,249 $ 4,331 $ 4,652 $ 15,338 $ 16,496 $ 45,745 $ 49,137 Geographic region (based on unpaid principal balance) California $ 9,908 $ 10,671 $ 5,591 $ 5,965 $ 1,077 $ 1,138 $ 8,634 $ 9,190 $ 25,210 $ 26,964 New York 833 876 647 672 422 463 856 933 2,758 2,944 Illinois 382 405 282 301 211 229 357 397 1,232 1,332 Texas 248 273 85 92 259 281 81 85 673 731 Florida 1,581 1,696 625 689 399 432 1,298 1,440 3,903 4,257 New Jersey 329 348 263 279 150 165 505 553 1,247 1,345 Arizona 299 323 155 167 82 85 215 227 751 802 Washington 889 959 208 225 87 95 360 395 1,544 1,674 Michigan 49 53 154 166 121 130 168 182 492 531 Ohio 18 20 45 48 68 72 65 69 196 209 All other 1,960 2,116 1,525 1,645 1,455 1,562 2,799 3,025 7,739 8,348 Total unpaid principal balance $ 16,496 $ 17,740 $ 9,580 $ 10,249 $ 4,331 $ 4,652 $ 15,338 $ 16,496 $ 45,745 $ 49,137 (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, 2015 , and December 31, 2014 . Total loans Total 30+ day delinquency rate (in millions, except ratios) Jun 30, Dec 31, Jun 30, Dec 31, HELOCs: (a) Within the revolving period (b) $ 7,004 $ 8,972 4.35 % 6.42 % Beyond the revolving period (c) 5,141 4,143 5.10 6.42 HELOANs 651 736 5.68 8.83 Total $ 12,796 $ 13,851 4.72 % 6.55 % (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, 2015 and 2014 , 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. Total PCI (in millions, except ratios) Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Beginning balance $ 14,034 $ 15,782 $ 14,592 $ 16,167 Accretion into interest income (430 ) (495 ) (866 ) (1,009 ) Changes in interest rates on variable-rate loans 12 (45 ) 18 (66 ) Other changes in expected cash flows (a) 125 33 (3 ) 183 Balance at June 30 $ 13,741 $ 15,275 $ 13,741 $ 15,275 Accretable yield percentage 4.18 % 4.24 % 4.16 % 4.28 % (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, 2015 and 2014 , other changes in expected cash flows were driven 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-r |
Credit card | |
Loans and Leases Receivable Disclosure [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, Loan delinquency Current and less than 30 days past due and still accruing $ 123,102 $ 126,189 30–89 days past due and still accruing 812 943 90 or more days past due and still accruing 791 895 Nonaccrual loans — — Total retained credit card loans $ 124,705 $ 128,027 Loan delinquency ratios % of 30+ days past due to total retained loans 1.29 % 1.44 % % of 90+ days past due to total retained loans 0.63 0.70 Credit card loans by geographic region California $ 17,661 $ 17,940 Texas 11,065 11,088 New York 10,763 10,940 Illinois 7,314 7,497 Florida 7,265 7,398 New Jersey 5,632 5,750 Ohio 4,520 4,707 Pennsylvania 4,317 4,489 Michigan 3,418 3,552 Virginia 3,075 3,263 All other 49,675 51,403 Total retained credit card loans $ 124,705 $ 128,027 Percentage of portfolio based on carrying value with estimated refreshed FICO scores Equal to or greater than 660 85.7 % 85.7 % Less than 660 14.3 14.3 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 2014 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, Impaired credit card loans with an allowance (a)(b) Credit card loans with modified payment terms (c) $ 1,480 $ 1,775 Modified credit card loans that have reverted to pre-modification payment terms (d) 205 254 Total impaired credit card loans (e) $ 1,685 $ 2,029 Allowance for loan losses related to impaired credit card loans $ 518 $ 500 (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, 2015 , and December 31, 2014 , $127 million and $159 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 $78 million and $95 million at June 30, 2015 , and December 31, 2014 , 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 Six months ended (in millions) 2015 2014 2015 2014 Average impaired credit card loans $ 1,769 $ 2,617 $ 1,854 $ 2,776 Interest income on impaired credit card loans 21 32 44 68 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 were $151 million and $193 million , for the three months ended June 30, 2015 and 2014 , respectively, and $329 million and $426 million for the six months ended June 30, 2015 and 2014 , respectively. For additional information about credit card loan modifications, see Note 14 of JPMorgan Chase ’s 2014 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 ended June 30, Six months ended 2015 2014 2015 2014 Weighted-average interest rate of loans – before TDR 15.15 % 15.05 % 15.16 % 15.04 % Weighted-average interest rate of loans – after TDR 4.27 4.33 4.28 4.36 Loans that redefaulted within one year of modification (a) $ 20 $ 29 $ 42 $ 63 (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 for credit card loans modified was expected to be 26.45% and 27.91% as of June 30, 2015 , and December 31, 2014 , respectively. |
Wholesale | |
Loans and Leases Receivable Disclosure [Line Items] | |
Loans | Wholesale loan portfolio Wholesale loans include loans made to a variety of customers, ranging from large corporate and institutional clients to high-net-worth individuals. The primary credit quality indicator for wholesale loans is the risk rating assigned each loan. For further information on these risk ratings, see Note 14 and Note 15 of JPMorgan Chase ’s 2014 Annual Report . The table below provides information by class of receivable for the retained loans in the Wholesale portfolio segment. Commercial and industrial Real estate Financial Government agencies Other (d) Total (in millions, except ratios) Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Loans by risk ratings Investment-grade $ 64,034 $ 63,069 $ 67,658 $ 61,006 $ 23,811 $ 27,111 $ 10,836 $ 8,393 $ 87,810 $ 82,087 $ 254,149 $ 241,666 Noninvestment-grade: Noncriticized 44,962 44,117 15,863 16,541 6,071 7,085 298 300 10,985 10,075 78,179 78,118 Criticized performing 3,017 2,251 1,444 1,313 375 316 8 3 174 236 5,018 4,119 Criticized nonaccrual 492 188 248 253 11 18 5 — 117 140 873 599 Total noninvestment- grade 48,471 46,556 17,555 18,107 6,457 7,419 311 303 11,276 10,451 84,070 82,836 Total retained loans $ 112,505 $ 109,625 $ 85,213 $ 79,113 $ 30,268 $ 34,530 $ 11,147 $ 8,696 $ 99,086 $ 92,538 $ 338,219 $ 324,502 % of total criticized to total retained loans 3.12 % 2.22 % 1.99 % 1.98 % 1.28 % 0.97 % 0.12 % 0.03 % 0.29 % 0.41 % 1.74 % 1.45 % % of nonaccrual loans to total retained loans 0.44 0.17 0.29 0.32 0.04 0.05 0.04 — 0.12 0.15 0.26 0.18 Loans by geographic distribution (a) Total non-U.S. $ 32,201 $ 33,739 $ 1,853 $ 2,099 $ 17,408 $ 20,944 $ 1,641 $ 1,122 $ 44,730 $ 42,961 $ 97,833 $ 100,865 Total U.S. 80,304 75,886 83,360 77,014 12,860 13,586 9,506 7,574 54,356 49,577 240,386 223,637 Total retained loans $ 112,505 $ 109,625 $ 85,213 $ 79,113 $ 30,268 $ 34,530 $ 11,147 $ 8,696 $ 99,086 $ 92,538 $ 338,219 $ 324,502 Loan delinquency (b) Current and less than 30 days past due and still accruing $ 111,835 $ 108,857 $ 84,830 $ 78,552 $ 30,222 $ 34,408 $ 11,127 $ 8,627 $ 97,763 $ 91,168 $ 335,777 $ 321,612 30–89 days past due and still accruing 174 566 120 275 29 104 15 69 1,109 1,201 1,447 2,215 90 or more days past due and still accruing (c) 4 14 15 33 6 — — — 97 29 122 76 Criticized nonaccrual 492 188 248 253 11 18 5 — 117 140 873 599 Total retained loans $ 112,505 $ 109,625 $ 85,213 $ 79,113 $ 30,268 $ 34,530 $ 11,147 $ 8,696 $ 99,086 $ 92,538 $ 338,219 $ 324,502 (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 2014 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 2014 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 2014 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, Real estate retained loans $ 55,501 $ 51,049 $ 17,235 $ 17,438 $ 4,723 $ 4,264 $ 7,754 $ 6,362 $ 85,213 $ 79,113 Criticized exposure 617 652 992 841 17 42 66 31 1,692 1,566 % of criticized exposure to total real estate retained loans 1.11 % 1.28 % 5.76 % 4.82 % 0.36 % 0.98 % 0.85 % 0.49 % 1.99 % 1.98 % Criticized nonaccrual $ 111 $ 126 $ 95 $ 110 $ — $ — $ 42 $ 17 $ 248 $ 253 % of criticized nonaccrual to total real estate retained loans 0.20 % 0.25 % 0.55 % 0.63 % — % — % 0.54 % 0.27 % 0.29 % 0.32 % Wholesale impaired loans and loan modifications Wholesale impaired loans are comprised of loans that have been placed on nonaccrual status and/or that have been modified in a TDR. All impaired loans are evaluated for an asset-specific allowance as described in Note 15 of JPMorgan Chase ’s 2014 Annual Report . The table below sets forth information about the Firm’s wholesale impaired loans. (in millions) Commercial and industrial Real estate Financial institutions Government agencies Other Total 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, Impaired loans With an allowance $ 401 $ 174 $ 154 $ 193 $ 10 $ 15 $ 5 $ — $ 59 $ 89 $ 629 $ 471 Without an allowance (a) 102 24 116 87 2 3 — — 59 52 279 166 Total impaired loans $ 503 $ 198 $ 270 $ 280 $ 12 $ 18 $ 5 $ — $ 118 $ 141 $ 908 (c) $ 637 (c) Allowance for loan losses related to impaired loans $ 85 $ 34 $ 17 $ 36 $ 2 $ 4 $ 2 $ — $ 41 $ 13 $ 147 $ 87 Unpaid principal balance of impaired loans (b) 541 266 354 345 14 22 5 — 122 202 1,036 835 (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, 2015 , and December 31, 2014 . 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 ended June 30, Six months ended June 30, (in millions) 2015 2014 2015 2014 Commercial and industrial $ 355 $ 249 $ 303 $ 270 Real estate 242 306 255 330 Financial institutions 15 19 15 21 Government agencies 1 — 1 — Other 114 159 111 164 Total (a) $ 727 $ 733 $ 685 $ 785 (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, 2015 and 2014 . 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. TDRs were not material as of June 30, 2015 and 2014 . |
Allowance for credit losses
Allowance for credit losses | 6 Months Ended |
Jun. 30, 2015 | |
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 2014 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. 2015 2014 Six months ended June 30 (in millions) Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Allowance for loan losses Beginning balance at January 1, $ 7,050 $ 3,439 $ 3,696 $ 14,185 8,456 $ 3,795 $ 4,013 $ 16,264 Gross charge-offs 827 1,776 33 2,636 1,084 1,982 77 3,143 Gross recoveries (337 ) (187 ) (53 ) (577 ) (399 ) (209 ) (108 ) (716 ) Net charge-offs/(recoveries) 490 1,589 (20 ) 2,059 685 1,773 (31 ) 2,427 Write-offs of PCI loans (a) 110 — — 110 109 — — 109 Provision for loan losses 42 1,589 265 1,896 81 1,573 (55 ) 1,599 Other — (5 ) 8 3 — (1 ) — (1 ) Ending balance at June 30, $ 6,492 $ 3,434 $ 3,989 $ 13,915 $ 7,743 $ 3,594 $ 3,989 $ 15,326 Allowance for loan losses by impairment methodology Asset-specific (b) $ 436 $ 518 (c) $ 147 $ 1,101 $ 598 $ 583 (c) $ 138 $ 1,319 Formula-based 2,841 2,916 3,842 9,599 3,396 3,011 3,851 10,258 PCI 3,215 — — 3,215 3,749 — — 3,749 Total allowance for loan losses $ 6,492 $ 3,434 $ 3,989 $ 13,915 $ 7,743 $ 3,594 $ 3,989 $ 15,326 Loans by impairment methodology Asset-specific $ 9,960 $ 1,685 $ 908 $ 12,553 $ 13,191 $ 2,467 $ 732 $ 16,390 Formula-based 263,015 123,020 337,307 723,342 224,905 123,154 320,797 668,856 PCI 43,806 — 4 43,810 50,118 — 5 50,123 Total retained loans $ 316,781 $ 124,705 $ 338,219 $ 779,705 $ 288,214 $ 125,621 $ 321,534 $ 735,369 Impaired collateral-dependent loans Net charge-offs $ 33 $ — $ 2 $ 35 $ 81 $ — $ (5 ) $ 76 Loans measured at fair value of collateral less cost to sell 2,695 — 307 3,002 3,250 — 321 3,571 Allowance for lending-related commitments Beginning balance at January 1, $ 13 $ — $ 609 $ 622 $ 8 $ — $ 697 $ 705 Provision for lending-related commitments 2 — (4 ) (2 ) 1 — (58 ) (57 ) Other — — — — — — — — Ending balance at June 30, $ 15 $ — $ 605 $ 620 $ 9 $ — $ 639 $ 648 Allowance for lending-related commitments by impairment methodology Asset-specific $ — $ — $ 55 $ 55 $ — $ — $ 43 $ 43 Formula-based 15 — 550 565 9 — 596 605 Total allowance for lending-related commitments $ 15 $ — $ 605 $ 620 $ 9 $ — $ 639 $ 648 Lending-related commitments by impairment methodology Asset-specific $ — $ — $ 133 $ 133 $ — $ — $ 122 $ 122 Formula-based 59,817 523,717 351,915 935,449 56,410 533,688 451,153 1,041,251 Total lending-related commitments $ 59,817 $ 523,717 $ 352,048 $ 935,582 $ 56,410 $ 533,688 $ 451,275 $ 1,041,373 (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. A write-off of a PCI loan is 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, 2015 | |
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 2014 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 144 Mortgage securitization trusts Servicing and securitization of both originated and purchased residential mortgages 144 –146 CIB Mortgage and other securitization trusts Securitization of both originated and purchased residential and commercial mortgages, and student loans 144 –146 Multi-seller conduits Investor intermediation activities: Assist clients in accessing the financial markets in a cost-efficient manner and structures transactions to meet investor needs 146 Municipal bond vehicles 146 –147 Credit-related note and asset swap vehicles 147 The Firm also invests in and provides financing and other services to VIEs sponsored by third parties, as described on page 147 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 2014 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 148 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 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 2014 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 149 of this Note for further information regarding the Firm’s cash flows with and interests retained in nonconsolidated VIEs, and page 149 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, 2015 (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 Securitization-related Residential mortgage: Prime/Alt-A and Option ARMs $ 91.8 $ 1.6 $ 75.5 $ 0.7 $ 1.6 $ 2.3 Subprime 26.1 0.1 24.2 — — — Commercial and other (b) 127.3 0.2 94.0 0.4 3.6 4.0 Total $ 245.2 $ 1.9 $ 193.7 $ 1.1 $ 5.2 $ 6.3 Principal amount outstanding JPMorgan Chase interest in securitized assets in nonconsolidated VIEs (c)(d)(e) December 31, 2014 (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 $ 96.3 $ 2.7 $ 78.3 $ 0.5 $ 0.7 $ 1.2 Subprime 28.4 0.8 25.7 0.1 — 0.1 Commercial and other (b) 129.6 0.2 94.4 0.4 3.5 3.9 Total $ 254.3 $ 3.7 $ 198.4 $ 1.0 $ 4.2 $ 5.2 (a) Excludes U.S. government agency securitizations. See page 149 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 loan 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 $97 million and $161 million , respectively, at June 30, 2015 , and $136 million and $34 million , respectively, at December 31, 2014 , 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, 2015 , and December 31, 2014 , 74% and 77% , respectively, of the Firm’s retained securitization interests, which are carried at fair value, were risk-rated “A” or better, on an S&P-equivalent basis. The retained interests in prime residential mortgages consisted of $2.1 billion and $1.1 billion of investment-grade and $175 million and $185 million of noninvestment-grade retained interests at June 30, 2015 , and December 31, 2014 , respectively. The retained interests in commercial and other securitizations trusts consisted of $3.8 billion and $3.7 billion of investment-grade and $229 million and $194 million of noninvestment-grade retained interests at June 30, 2015 , and December 31, 2014 , respectively. Residential mortgages For a more detailed description of the Firm’s involvement with residential mortgage securitizations, see Note 16 of JPMorgan Chase’s 2014 Annual Report . At June 30, 2015 , and December 31, 2014 , 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 148 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 2014 Annual Report . See the table on page 148 of this Note for more information on the consolidated commercial mortgage securitizations, and 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 2014 Annual Report . During the three months ended June 30, 2015 and 2014 , the Firm transferred $6.3 billion and $8.0 billion respectively of securities to agency VIEs, and $255 million and $264 million , respectively, of securities to private-label VIEs. During the six months ended June 30, 2015 and 2014 , the Firm transferred $ 10.2 billion and $ 13.3 billion respectively of securities to agency VIEs, and $ 727 million and $ 433 million , respectively, of securities to private-label VIEs. As of June 30, 2015 , and December 31, 2014 , the Firm did not consolidate any agency re-securitizations. As of June 30, 2015 , and December 31, 2014 , the Firm consolidated $50 million and $77 million , respectively, of assets, and $3 million and $21 million , respectively, of liabilities of private-label re-securitizations. See the table on page 148 of this Note for more information on consolidated re-securitization transactions. As of June 30, 2015 , and December 31, 2014 , total assets (including the notional amount of interest-only securities) of nonconsolidated Firm-sponsored private-label re-securitization entities in which the Firm has continuing involvement were $2.5 billion and $2.9 billion , respectively. At June 30, 2015 , and December 31, 2014 , the Firm held approximately $3.3 billion and $2.4 billion , respectively, of interests in nonconsolidated agency re-securitization entities, and $31 million and $36 million , respectively, of senior and subordinated interests in nonconsolidated private-label re-securitization entities. See the table on page 149 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 2014 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 $3.6 billion and $5.7 billion of the commercial paper issued by the Firm-administered multi-seller conduits at June 30, 2015 , and December 31, 2014 , respectively, which was eliminated in consolidation. The Firm’s investments reflect the Firm’s funding needs and capacity and were not driven by market illiquidity. 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 $9.9 billion at both June 30, 2015 , and December 31, 2014 , 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 2014 Annual Report . The Firm’s exposure to nonconsolidated municipal bond VIEs at June 30, 2015 , and December 31, 2014 , 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 June 30, 2015 $ 11.7 $ 6.6 $ 5.1 $ 6.6 December 31, 2014 11.5 6.3 5.2 6.3 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 June 30, 2015 $ 2.7 $ 8.6 $ 0.4 $ — $ — $ 11.7 4.9 December 31, 2014 2.7 8.4 0.4 — — 11.5 4.9 (a) Represents the excess/(deficit) of the fair values of municipal bond assets available to repay the liquidity facilities, if drawn. (b) The ratings scale is presented on an S&P-equivalent basis. 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 2014 Annual Report . VIEs sponsored by third parties The Firm enters into transactions with VIEs sponsored 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, 2015 , and December 31, 2014 . Assets Liabilities June 30, 2015 (in billions) (a) Trading assets Loans Other (c) Total assets (d) Beneficial interests in VIE assets (e) Other (f) Total liabilities VIE program type Firm-sponsored credit card trusts $ — $ 47.9 $ 0.7 $ 48.6 $ 31.2 $ — $ 31.2 Firm-administered multi-seller conduits — 16.5 — 16.5 13.0 — 13.0 Municipal bond vehicles 2.6 — — 2.6 2.5 — 2.5 Mortgage securitization entities (b) 2.2 0.7 — 2.9 1.2 0.7 1.9 Student loan securitization entities 0.1 2.0 0.1 2.2 2.0 — 2.0 Other 0.3 — 1.5 1.8 0.1 0.2 0.3 Total $ 5.2 $ 67.1 $ 2.3 $ 74.6 $ 50.0 $ 0.9 $ 50.9 Assets Liabilities December 31, 2014 (in billions) (a) Trading assets Loans Other (c) Total assets (d) Beneficial interests in VIE assets (e) Other (f) Total liabilities VIE program type Firm-sponsored credit card trusts $ — $ 48.3 $ 0.7 $ 49.0 $ 31.2 $ — $ 31.2 Firm-administered multi-seller conduits — 17.7 0.1 17.8 12.0 — 12.0 Municipal bond vehicles 5.3 — — 5.3 4.9 — 4.9 Mortgage securitization entities (b) 3.3 0.7 — 4.0 2.1 0.8 2.9 Student loan securitization entities 0.2 2.2 — 2.4 2.1 — 2.1 Other 0.3 — 1.0 1.3 0.1 0.1 0.2 Total $ 9.1 $ 68.9 $ 1.8 $ 79.8 $ 52.4 $ 0.9 $ 53.3 (a) Excludes intercompany transactions which were eliminated in consolidation. (b) Includes residential and commercial mortgage securitizations as well as re-securitizations. (c) Includes assets classified as cash, AFS securities, and other assets within the Consolidated balance sheets. (d) 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. (e) 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 $34.5 billion and $35.4 billion at June 30, 2015 , and December 31, 2014 , respectively. The maturities of the long-term beneficial interests as of June 30, 2015, were as follows: $6.8 billion under one year, $23.1 billion between one and five years, and $4.6 billion over five years. (f) Includes liabilities classified as accounts payable and other liabilities in the Consolidated balance sheets. Loan securitizations The Firm securitizes (or has securitized) a variety of loans, including residential mortgage, credit card, 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 2014 Annual Report . Securitization activity The following table provides information related to the Firm’s securitization activities for the three months ended June 30, 2015 and 2014, 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, 2015 2014 2015 2014 (in millions) (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 $ 380 $ 2,676 $ 304 $ 2,612 $ 1,692 $ 6,051 $ 660 $ 4,639 All cash flows during the period: Proceeds from new securitizations (b) $ 385 $ 2,689 $ 312 $ 2,664 $ 1,702 $ 6,058 $ 663 $ 4,708 Servicing fees collected 134 1 137 1 280 2 276 2 Purchases of previously transferred financial assets (or the underlying collateral) (c) 1 — 64 — 1 — 67 — Cash flows received on interests 116 128 41 397 186 207 85 459 (a) Excludes re-securitization transactions. (b) For the three and six months ended June 30, 2015, $385 million and $1.7 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, 2015, $2.7 billion and $6.0 billion , respectively, of proceeds from commercial mortgage securitizations were received as securities classified in level 2 and $38 million of proceeds classified as level 3 of the fair value hierarchy. 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. All loans transferred into securitization vehicles during the three and six months ended June 30, 2015 and 2014, 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 MSRs 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 MSRs on a nonrecourse basis, predominantly to Fannie Mae and Freddie Mac (the “GSEs”). These loans and excess MSRs 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 2014 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 MSRs. 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 ended June 30, Six months ended June 30, (in millions) 2015 2014 2015 2014 Carrying value of loans sold (a) $ 10,660 $ 12,603 $ 22,799 $ 26,253 Proceeds received from loan sales as cash 48 50 99 89 Proceeds from loans sales as securities (b) 10,559 12,461 22,588 26,196 Total proceeds received from loan sales (c) $ 10,607 $ 12,511 $ 22,687 $ 26,285 Gains on loan sales (d) $ 86 $ 82 $ 177 $ 119 (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 loan sales include the value of MSRs. (d) The carrying value of the loans accounted for at fair value approximated the total 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 typically elects to repurchase delinquent loans from Ginnie Mae loan pools as it continues to service them and/or manage the foreclosure process in accordance with the applicable requirements, and such loans continue to be insured or guaranteed. When the Firm’s repurchase option becomes exercisable, such loans must be reported on the Consolidated balance sheets as a loan with a corresponding liability. As of June 30, 2015, and December 31, 2014, the Firm had recorded on its Consolidated balance sheets $11.7 billion and $12.4 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 $385 million and $464 million as of June 30, 2015, and December 31, 2014, 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 2014 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, 2015, and December 31, 2014, respectively; and liquidation losses for the three and six months ended June 30, 2015 and 2014, 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, 2015 2014 2015 2014 Securitized loans (a) Residential mortgage: Prime / Alt-A & Option ARMs $ 75,466 $ 78,294 $ 10,036 $ 11,363 $ 454 $ 598 $ 916 $ 1,257 Subprime 24,237 25,659 6,045 6,473 371 464 725 1,203 Commercial and other 93,973 94,438 1,469 1,522 40 408 139 642 Total loans securitized (b) $ 193,676 $ 198,391 $ 17,550 $ 19,358 $ 865 $ 1,470 $ 1,780 $ 3,102 (a) Total assets held in securitization-related SPEs were $245.2 billion and $254.3 billion , respectively, at June 30, 2015, and December 31, 2014. The $193.7 billion and $198.4 billion , respectively, of loans securitized at June 30, 2015, and December 31, 2014, excluded: $49.6 billion and $52.2 billion , respectively, of securitized loans in which the Firm has no continuing involvement, and $1.9 billion and $3.7 billion , respectively, of loan securitizations consolidated on the Firm’s Consolidated balance sheets at June 30, 2015, and December 31, 2014. (b) Includes securitized loans that were previously recorded at fair value and classified as trading assets. |
Goodwill and other intangible a
Goodwill and other intangible assets | 6 Months Ended |
Jun. 30, 2015 | |
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 2014 Annual Report . The following table presents goodwill attributed to the business segments. (in millions) June 30, December 31, Consumer & Community Banking $ 30,893 $ 30,941 Corporate & Investment Bank 6,776 6,780 Commercial Banking 2,861 2,861 Asset Management 6,946 6,964 Corporate — 101 Total goodwill $ 47,476 $ 47,647 The following table presents changes in the carrying amount of goodwill. Three months ended Six months ended (in millions) 2015 2014 2015 2014 Balance at beginning of period $ 47,453 $ 48,065 $ 47,647 $ 48,081 Changes during the period from: Business combinations 9 9 17 18 Dispositions — — (101 ) (b) — Other (a) 14 36 (87 ) 11 Balance at June 30, $ 47,476 $ 48,110 $ 47,476 $ 48,110 (a) Includes foreign currency translation adjustments and other tax-related adjustments. (b) Represents Private Equity goodwill which was disposed of as part of the Private Equity sale completed in January 2015. 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 271–272 of JPMorgan Chase ’s 2014 Annual Report . Goodwill was not impaired at June 30, 2015 , or December 31, 2014 , nor was goodwill written off due to impairment during the six months ended June 30, 2015 . However, 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 from deterioration in economic conditions, including decreases in home prices that result in increased credit losses. Declines in business performance, increases in equity capital requirements, or increases in the estimated cost of equity, could cause the estimated fair values of the Firm’s reporting units or their associated goodwill to decline in the future, which could result in a material impairment charge to earnings in a future period related to some portion of the associated goodwill. Mortgage servicing rights MSRs 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 2014 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, 2015 and 2014 . As of or for the three months As of or for the six months (in millions, except where otherwise noted) 2015 2014 2015 2014 Fair value at beginning of period $ 6,641 $ 8,552 $ 7,436 $ 9,614 MSR activity: Originations of MSRs 145 178 300 370 Purchase of MSRs 438 3 439 6 Disposition of MSRs (a) (218 ) 2 (375 ) (186 ) Net additions 365 183 364 190 Changes due to collection/realization of expected cash flows (b) (229 ) (239 ) (444 ) (486 ) Changes in valuation due to inputs and assumptions: Changes due to market interest rates and other (c) 816 (369 ) 339 (731 ) Changes in valuation due to other inputs and assumptions: Projected cash flows (e.g., cost to service) (17 ) — (27 ) (11 ) Discount rates — (10 ) (10 ) (459 ) (g) Prepayment model changes and other (d) (5 ) 230 (87 ) 230 Total changes in valuation due to other inputs and assumptions (22 ) 220 (124 ) (240 ) Total changes in valuation due to inputs and assumptions (b) 794 (149 ) 215 (971 ) Fair value at June 30, (e) $ 7,571 $ 8,347 $ 7,571 $ 8,347 Change in unrealized gains/(losses) included in income related to MSRs held at June 30, $ 794 $ (149 ) $ 215 $ (971 ) Contractual service fees, late fees and other ancillary fees included in income $ 644 $ 731 $ 1,311 $ 1,488 Third-party mortgage loans serviced at June 30, (in billions) $ 727 $ 791 $ 727 $ 791 Net servicer advances at June 30, (in billions) (f) $ 7.1 $ 8.8 $ 7.1 $ 8.8 (a) For the six months ended June 30, 2014 , predominantly represents excess MSRs 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 months ended June 30, 2015 and 2014 and six months ended June 30, 2015 and 2014 . (b) Included changes related to commercial real estate of zero and $(2) million for the three months ended June 30, 2015 and 2014 , respectively, and $(2) million and $(4) million for the six months ended June 30, 2015 and 2014 , respectively. (c) Represents both the impact of changes in estimated future prepayments due to changes in market interest rates, and the difference between actual and expected prepayments. (d) Represents changes in prepayments other than those attributable to changes in market interest rates. (e) Included $9 million and $14 million related to commercial real estate at June 30, 2015 and 2014 , respectively. (f) Represents amounts the Firm pays as the servicer (e.g., scheduled principal and interest, taxes and insurance), which will generally be reimbursed within a short period of time after the advance from future cash flows from the trust or the underlying loans. The Firm’s credit risk associated with these 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. (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. 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, 2015 and 2014 . Three months ended Six months ended (in millions) 2015 2014 2015 2014 CCB mortgage fees and related income Net production revenue $ 233 $ 323 $ 470 $ 612 Net mortgage servicing revenue Operating revenue: Loan servicing revenue 707 867 1,456 1,737 Changes in MSR asset fair value due to collection/realization of expected cash flows (228 ) (237 ) (442 ) (482 ) Total operating revenue 479 630 1,014 1,255 Risk management: Changes in MSR asset fair value due to market interest rates and other (a) 815 (368 ) 339 (730 ) Other changes in MSR asset fair value due to other inputs and assumptions in model (b) (22 ) 220 (124 ) (240 ) Change in derivative fair value and other (723 ) 485 (213 ) 907 Total risk management 70 337 2 (63 ) Total CCB net mortgage servicing revenue 549 967 1,016 1,192 All other 1 1 2 1 Mortgage fees and related income $ 783 $ 1,291 $ 1,488 $ 1,805 (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, 2015 , and December 31, 2014 , 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, Weighted-average prepayment speed assumption (“CPR”) 9.01 % 9.80 % Impact on fair value of 10% adverse change $ (327 ) $ (337 ) Impact on fair value of 20% adverse change (633 ) (652 ) Weighted-average option adjusted spread 9.38 % 9.43 % Impact on fair value of 100 basis points adverse change $ (304 ) $ (300 ) Impact on fair value of 200 basis points adverse change (586 ) (578 ) 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 For information regarding other intangible assets, see Note 17 of JPMorgan Chase ’s 2014 Annual Report . |
Deposits
Deposits | 6 Months Ended |
Jun. 30, 2015 | |
Deposits [Abstract] | |
Deposits | Deposits For further discussion on deposits, see Note 19 of JPMorgan Chase’s 2014 Annual Report. At June 30, 2015, and December 31, 2014, noninterest-bearing and interest-bearing deposits were as follows. (in millions) June 30, 2015 December 31, 2014 U.S. offices Noninterest-bearing $ 432,052 $ 437,558 Interest-bearing: Demand (a) 69,477 90,319 Savings (b) 462,554 466,730 Time (included $9,364 and $7,501 at fair value) (c) 79,407 86,301 Total interest-bearing deposits 611,438 643,350 Total deposits in U.S. offices 1,043,490 1,080,908 Non-U.S. offices Noninterest-bearing 21,777 19,078 Interest-bearing: Demand 177,923 217,011 Savings 1,873 2,673 Time (included $2,121 and $1,306 at fair value) (c) 42,269 43,757 Total interest-bearing deposits 222,065 263,441 Total deposits in non-U.S. offices 243,842 282,519 Total deposits $ 1,287,332 $ 1,363,427 (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 2014 Annual Report . |
Earnings per share
Earnings per share | 6 Months Ended |
Jun. 30, 2015 | |
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 2014 Annual Report . The following table presents the calculation of basic and diluted EPS for the three and six months ended June 30, 2015 and 2014 . (in millions, except per share amounts) Three months ended Six months ended June 30, 2015 2014 2015 2014 Basic earnings per share Net income $ 6,290 $ 5,980 $ 12,204 $ 11,249 Less: Preferred stock dividends 380 268 704 495 Net income applicable to common equity 5,910 5,712 11,500 10,754 Less: Dividends and undistributed earnings allocated to participating securities 134 144 272 294 Net income applicable to common stockholders $ 5,776 $ 5,568 $ 11,228 $ 10,460 Total weighted-average basic shares outstanding 3,707.8 3,780.6 3,716.6 3,783.9 Net income per share $ 1.56 $ 1.47 $ 3.02 $ 2.76 Diluted earnings per share Net income applicable to common stockholders $ 5,776 $ 5,568 $ 11,228 $ 10,460 Total weighted-average basic shares outstanding 3,707.8 3,780.6 3,716.6 3,783.9 Add: Employee stock options, SARs and warrants (a) 35.8 31.9 33.9 34.2 Total weighted-average diluted shares outstanding (b) 3,743.6 3,812.5 3,750.5 3,818.1 Net income per share $ 1.54 $ 1.46 $ 2.99 $ 2.74 (a) Excluded from the computation of diluted EPS (due to the antidilutive effect) were options issued under employee benefit plans. The aggregate number of shares issuable upon the exercise of such options was not material for the three and six months ended June 30, 2015 ; and 1 million for each of the three and six months ended June 30, 2014 . (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 Comprehensive
Accumulated Other Comprehensive Income/(Loss) | 6 Months Ended |
Jun. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated other comprehensive income/(loss) | Accumulated other comprehensive income/(loss) AOCI includes the after-tax change in unrealized gains and losses on 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) (in millions) Balance at April 1, 2015 $ 4,862 $ (157 ) $ (18 ) $ (2,257 ) $ 2,430 Net change (1,419 ) 3 80 8 (1,328 ) Balance at June 30, 2015 $ 3,443 $ (154 ) $ 62 $ (2,249 ) $ 1,102 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) (in millions) Balance at April 1, 2014 $ 3,792 $ (138 ) $ (80 ) $ (1,298 ) $ 2,276 Net change 1,075 12 68 7 1,162 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) (in millions) Balance at January 1, 2015 $ 4,773 $ (147 ) $ (95 ) $ (2,342 ) $ 2,189 Net change (1,330 ) (7 ) 157 93 (1,087 ) Balance at June 30, 2015 $ 3,443 $ (154 ) $ 62 $ (2,249 ) $ 1,102 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) (in millions) Balance at January 1, 2014 $ 2,798 $ (136 ) $ (139 ) $ (1,324 ) $ 1,199 Net change 2,069 10 127 33 2,239 Balance at June 30, 2014 $ 4,867 $ (126 ) $ (12 ) $ (1,291 ) $ 3,438 (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. The following table presents the pretax and after-tax changes in the components of other comprehensive income/(loss). 2015 2014 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 $ (2,343 ) $ 952 $ (1,391 ) $ 1,778 $ (695 ) $ 1,083 Reclassification adjustment for realized (gains)/losses included in net income (a) (44 ) 16 (28 ) (12 ) 4 (8 ) Net change (2,387 ) 968 (1,419 ) 1,766 (691 ) 1,075 Translation adjustments: Translation (b) 267 (117 ) 150 218 (79 ) 139 Hedges (b) (250 ) 103 (147 ) (208 ) 81 (127 ) Net change 17 (14 ) 3 10 2 12 Cash flow hedges: Net unrealized gains/(losses) arising during the period 120 (46 ) 74 143 (57 ) 86 Reclassification adjustment for realized (gains)/losses included in net income (c) 7 (1 ) 6 (29 ) 11 (18 ) Net change 127 (47 ) 80 114 (46 ) 68 Defined benefit pension and OPEB plans: Net gains/(losses) arising during the period 41 (15 ) 26 19 (8 ) 11 Reclassification adjustments included in net income (d) : Amortization of net loss 70 (26 ) 44 19 (7 ) 12 Prior service costs/(credits) (9 ) 4 (5 ) (12 ) 5 (7 ) Foreign exchange and other (33 ) (24 ) (57 ) (15 ) 6 (9 ) Net change 69 (61 ) 8 11 (4 ) 7 Total other comprehensive income/(loss) $ (2,174 ) $ 846 $ (1,328 ) $ 1,901 $ (739 ) $ 1,162 2015 2014 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 $ (2,118 ) $ 848 $ (1,270 ) $ 3,399 $ (1,304 ) $ 2,095 Reclassification adjustment for realized (gains)/losses included in (a) (96 ) 36 (60 ) (42 ) 16 (26 ) Net change (2,214 ) 884 (1,330 ) 3,357 (1,288 ) 2,069 Translation adjustments: Translation (b) (733 ) 261 (472 ) 372 (142 ) 230 Hedges (b) 743 (278 ) 465 (362 ) 142 (220 ) Net change 10 (17 ) (7 ) 10 — 10 Cash flow hedges: Net unrealized gains/(losses) arising during the period 71 (28 ) 43 215 (87 ) 128 Reclassification adjustment for realized (gains)/losses included in (c)(e) 182 (68 ) 114 (2 ) 1 (1 ) Net change 253 (96 ) 157 213 (86 ) 127 Defined benefit pension and OPEB plans: Net gains/(losses) arising during the period 101 (39 ) 62 88 (34 ) 54 Reclassification adjustments included in net income (d) : Amortization of net loss 141 (53 ) 88 37 (15 ) 22 Prior service costs/(credits) (18 ) 7 (11 ) (22 ) 9 (13 ) Foreign exchange and other — (46 ) (46 ) (19 ) (11 ) (30 ) Net change 224 (131 ) 93 84 (51 ) 33 Total other comprehensive income/(loss) $ (1,727 ) $ 640 $ (1,087 ) $ 3,664 $ (1,425 ) $ 2,239 (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/expense in the Consolidated statements of income. The amounts were not material for the periods presented. (c) The pretax amounts 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. (e) In the first quarter of 2015, the Firm reclassified approximately $150 million of net losses from AOCI to other income because the Firm determined that it is probable that the forecasted interest payment cash flows will not occur. For additional information, see Note 5. |
Regulatory capital
Regulatory capital | 6 Months Ended |
Jun. 30, 2015 | |
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, for large and internationally active U.S. bank holding companies and banks, including the Firm and its insured depository institution (“IDI”) subsidiaries, revised, among other things, the definition of capital and introduced a new common equity Tier 1 capital (“CET1 capital”) requirement; presents two comprehensive methodologies for calculating risk-weighted assets (“RWA”), a general (Standardized) approach, which replaced Basel I RWA effective January 1, 2015, (“Basel III Standardized”) and an advanced approach, which replaced Basel II RWA (“Basel III Advanced”); and sets out minimum capital ratios and overall capital adequacy standards. Certain of the requirements of Basel III are subject to phase-in periods that began on January 1, 2014 and continue through the end of 2018 (“Basel III Transitional”). There are three categories of risk-based capital under the Basel III Transitional rules: common equity Tier 1 capital (“CET1 capital”), 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 (“NOL”) and tax credit carryforwards. Tier 1 capital is predominantly comprised of CET1 capital as well as perpetual preferred stock. Tier 2 capital includes long-term debt qualifying as Tier 2 and qualifying allowance for credit losses. Total capital is Tier 1 capital plus Tier 2 capital. The following tables present the regulatory capital, assets and risk-based capital ratios for JPMorgan Chase and its significant national bank subsidiaries under both Basel III Standardized Transitional and Basel III Advanced Transitional. JPMorgan Chase & Co. (e) Basel III Standardized Transitional Basel III Advanced Transitional (in millions, except ratios) Jun 30, Dec 31, Jun 30, Dec 31, Regulatory capital CET1 capital $ 169,769 $ 164,426 $ 169,769 $ 164,426 Tier 1 capital (a) 194,725 186,294 194,725 186,294 Total capital 228,390 221,225 218,811 210,684 Assets Risk-weighted 1,499,638 (f) 1,472,602 1,520,140 1,608,240 Adjusted average (b) 2,448,357 2,465,414 2,448,357 2,465,414 Capital ratios (c) CET1 11.3 % 11.2 % 11.2 % 10.2 % Tier 1 (a) 13.0 12.7 12.8 11.6 Total 15.2 15.0 14.4 13.1 Tier 1 leverage (d) 8.0 7.6 8.0 7.6 JPMorgan Chase Bank, N.A. (e) Basel III Standardized Transitional Basel III Advanced Transitional (in millions, except ratios) Jun 30, Dec 31, Jun 30, Dec 31, Regulatory capital CET1 capital $ 161,814 $ 156,567 $ 161,814 $ 156,567 Tier 1 capital (a) 161,966 156,891 161,966 156,891 Total capital 177,249 173,328 170,346 166,331 Assets Risk-weighted 1,274,043 (f) 1,230,358 1,275,783 1,330,175 Adjusted (b) 1,982,100 1,968,131 1,982,100 1,968,131 Capital ratios (c) CET1 12.7 % 12.7 % 12.7 % 11.8 % Tier 1 (a) 12.7 12.8 12.7 11.8 Total 13.9 14.1 13.4 12.5 Tier 1 leverage (d) 8.2 8.0 8.2 8.0 Chase Bank USA, N.A. (e) Basel III Standardized Transitional Basel III Advanced Transitional (in millions, except ratios) Jun 30, Dec 31, Jun 30, Dec 31, Regulatory capital CET1 capital $ 15,002 $ 14,556 $ 15,002 $ 14,556 Tier 1 capital (a) 15,002 14,556 15,002 14,556 Total capital 20,952 20,517 19,652 19,206 Assets Risk-weighted 101,754 (f) 103,468 156,286 157,565 Adjusted (b) 129,421 128,111 129,421 128,111 Capital ratios (c) CET1 14.7 % 14.1 % 9.6 % 9.2 % Tier 1 (a) 14.7 14.1 9.6 9.2 Total 20.6 19.8 12.6 12.2 Tier 1 leverage (d) 11.6 11.4 11.6 11.4 (a) At June 30, 2015 , trust preferred securities included in Basel III Tier 1 capital were $960 million and $150 million for JPMorgan Chase and JPMorgan Chase Bank, N.A., respectively. At June 30, 2015 , Chase Bank USA, N.A. had no trust preferred securities. (b) Adjusted average assets, for purposes of calculating the Tier 1 leverage ratio, includes total quarterly average assets adjusted for on-balance sheet assets that are subject to deduction from Tier 1 Capital predominantly comprising disallowed goodwill and other intangible assets. (c) For each risk-based capital ratio, the capital adequacy of the Firm and its national bank subsidiaries are evaluated against the Basel III approach, Standardized or Advanced, resulting in the lower ratio. (d) As the Tier 1 leverage ratio is not a risk-based measure of capital, the ratios presented in the table reflect the same calculation. (e) Asset and capital amounts for JPMorgan Chase ’s national banking subsidiaries reflect intercompany transactions; whereas the respective amounts for JPMorgan Chase reflect the elimination of intercompany transactions. (f) Effective January 1, 2015, the Basel III definition of the Standardized RWA became effective. Prior measures of Basel III Standardized RWA were calculated under Basel I rules. Note: Rating agencies allow measures of capital to be adjusted upward for deferred tax liabilities, which have resulted from both nontaxable business combinations and from tax-deductible goodwill. The Firm had deferred tax liabilities resulting from nontaxable business combinations totaling $117 million and $130 million at June 30, 2015 , and December 31, 2014 , respectively; and deferred tax liabilities resulting from tax-deductible goodwill of $2.8 billion and $2.7 billion at June 30, 2015 , and December 31, 2014 , respectively. Under the risk-based capital guidelines of the Federal Reserve, JPMorgan Chase is required to maintain minimum ratios of CET1 (beginning January 1, 2015), Tier 1 and total capital to risk-weighted assets, as well as a minimum leverage ratio (which is 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. National 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, 2015 . Minimum capital ratios (a) Well-capitalized ratios (a) Capital ratios CET1 4.5 % 6.5 % Tier 1 6.0 8.0 Total 8.0 10.0 Tier 1 leverage 4.0 5.0 (b) (a) As defined by the regulations issued by the Federal Reserve, OCC and FDIC. (b) 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. As of June 30, 2015 , and December 31, 2014 , JPMorgan Chase and all of its banking subsidiaries were well-capitalized and met all capital requirements to which each was subject. |
Off-Balance Sheet Lending-Relat
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments | 6 Months Ended |
Jun. 30, 2015 | |
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 2014 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 information 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, 2015 , and December 31, 2014 . 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. In addition, the Firm typically closes credit card lines when the borrower is 60 days or more past due. 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. Off–balance sheet lending-related financial instruments, guarantees and other commitments Contractual amount Carrying value (j) June 30, 2015 Dec 31, Jun 30, Dec 31, By remaining maturity (in millions) Expires in 1 year or less Expires after Expires after Expires after 5 years Total Total Lending-related Consumer, excluding credit card: Home equity – senior lien $ 1,826 $ 4,364 $ 996 $ 3,899 $ 11,085 $ 11,807 $ — $ — Home equity – junior lien 2,927 5,291 1,039 3,901 13,158 14,859 — — Prime mortgage (a) 13,526 — — — 13,526 8,579 — — Auto (b) 7,647 1,365 211 32 9,255 10,462 3 2 Business banking (b) 10,923 834 89 470 12,316 11,894 12 11 Student and other 27 5 — 445 477 552 — — Total consumer, excluding credit card 36,876 11,859 2,335 8,747 59,817 58,153 15 13 Credit card 523,717 — — — 523,717 525,963 — — Total consumer (c) 560,593 11,859 2,335 8,747 583,534 584,116 15 13 Wholesale: Other unfunded commitments to extend credit (b)(d) 58,701 85,922 110,091 7,722 262,436 272,676 327 374 Standby letters of credit and other financial guarantees (b)(d)(e) 20,104 30,071 32,968 2,281 85,424 89,874 751 788 Other letters of credit (b) 3,241 867 80 — 4,188 4,331 1 1 Total wholesale (f)(g) 82,046 116,860 143,139 10,003 352,048 366,881 1,079 1,163 Total lending-related $ 642,639 $ 128,719 $ 145,474 $ 18,750 $ 935,582 $ 950,997 $ 1,094 $ 1,176 Other guarantees and commitments Securities lending indemnification agreements and guarantees (h) $ 190,441 $ — $ — $ — $ 190,441 $ 171,059 $ — $ — Derivatives qualifying as guarantees 930 293 11,459 38,794 51,476 53,589 103 80 Unsettled reverse repurchase and securities borrowing agreements 49,684 — — — 49,684 40,993 — — Loan sale and securitization-related indemnifications: Mortgage repurchase liability NA NA NA NA NA NA 231 275 Loans sold with recourse NA NA NA NA 5,173 6,063 92 102 Other guarantees and commitments (i) 797 1,635 2,259 1,293 5,984 5,720 (107 ) (121 ) (a) Includes certain commitments to purchase loans from correspondents. (b) At June 30, 2015 , and December 31, 2014 , reflects the contractual amount net of risk participations totaling $239 million and $243 million , respectively, for other unfunded commitments to extend credit; $12.5 billion and $13.0 billion , respectively, for standby letters of credit and other financial guarantees; and $376 million and $469 million , respectively, for other letters of credit. In regulatory filings with the Federal Reserve these commitments are shown gross of risk participations. (c) Predominantly all consumer lending-related commitments are in the U.S. (d) At June 30, 2015 , and December 31, 2014 , included credit enhancements and bond and commercial paper liquidity commitments to U.S. states and municipalities, hospitals and other non-profit entities of $14.0 billion and $14.8 billion , respectively, within other unfunded commitments to extend credit; and $10.8 billion and $13.3 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, 2015 , and December 31, 2014 , included unissued standby letters of credit commitments of $44.9 billion and $45.6 billion , respectively. (f) At June 30, 2015 , and December 31, 2014 , the U.S. portion of the contractual amount of total wholesale lending-related commitments was 76% and 73% , respectively. (g) Effective January 1, 2015, the Firm no longer includes within its disclosure of wholesale lending-related commitments the unused amount of advised uncommitted lines of credit as it is within the Firm’s discretion whether or not to make a loan under these lines, and the Firm’s approval is generally required prior to funding. Prior period amounts have been revised to conform with the current period presentation. (h) At June 30, 2015 , and December 31, 2014 , collateral held by the Firm in support of securities lending indemnification agreements was $197.6 billion and $177.1 billion , respectively. Securities lending collateral comprises primarily cash and securities issued by governments that are members of the Organisation for Economic Co-operation and Development (“OECD”) and U.S. government agencies. (i) At June 30, 2015 , and December 31, 2014 , included unfunded commitments of $140 million and $147 million , respectively, to third-party private equity funds; and $1.1 billion and $961 million , at June 30, 2015 , and December 31, 2014 , respectively, to other equity investments. These commitments included $155 million and $150 million , respectively, related to investments that are generally fair valued at net asset value as discussed in Note 3. In addition, at June 30, 2015 , and December 31, 2014 , included letters of credit hedged by derivative transactions and managed on a market risk basis of $4.4 billion and $4.5 billion , respectively. (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, 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 $29.3 billion and $23.4 billion at June 30, 2015 , and December 31, 2014 , respectively. For further information, see Note 3 and Note 4. The Firm acts as a settlement and custody bank in the U.S. tri-party repurchase transaction market. In its role as settlement and custody bank, the Firm is exposed to the intra-day credit risk of its cash borrower clients, usually broker-dealers. This exposure arises under secured clearance advance facilities that the Firm extends to its clients (i.e. cash borrowers); these facilities contractually limit the Firm’s intra-day credit risk to the facility amount and must be repaid by the end of the day. As of June 30, 2015 , and December 31, 2014 , the secured clearance advance facility maximum outstanding commitment amount was $11.3 billion and $12.6 billion , respectively. 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 2014 Annual Report . The recorded amounts of the liabilities related to guarantees and indemnifications at June 30, 2015 , and December 31, 2014 , 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 $752 million and $789 million at June 30, 2015 , and December 31, 2014 , respectively, which were classified in accounts payable and other liabilities on the Consolidated balance sheets; these carrying values included $278 million and $235 million , respectively, for the allowance for lending-related commitments, and $474 million and $554 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, 2015 , and December 31, 2014 . Standby letters of credit, other financial guarantees and other letters of credit June 30, 2015 December 31, 2014 (in millions) Standby letters of credit and other financial guarantees Other letters of credit Standby letters of credit and other financial guarantees Other letters of credit Investment-grade (a) $ 61,972 $ 3,534 $ 66,856 $ 3,476 Noninvestment-grade (a) 23,452 654 23,018 855 Total contractual amount $ 85,424 $ 4,188 $ 89,874 $ 4,331 Allowance for lending-related commitments $ 277 $ 1 $ 234 $ 1 Commitments with collateral 37,595 1,275 39,726 1,509 (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 2014 Annual Report . The total notional value of the derivatives that the Firm deems to be guarantees was $51.5 billion and $53.6 billion at June 30, 2015 , and December 31, 2014 , 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 $28.1 billion and $27.5 billion at June 30, 2015 , and December 31, 2014 , respectively, and the maximum exposure to loss was $3.0 billion and $2.9 billion at June 30, 2015 , and December 31, 2014 . 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 $129 million and $102 million and derivative receivables of $26 million and $22 million at June 30, 2015 , and December 31, 2014 , 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 2014 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 2014 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 Three months ended June 30, Six months ended June 30, (in millions) 2015 2014 2015 2014 Repurchase liability at beginning of period $ 252 $ 564 $ 275 $ 681 Net realized gains/(losses) (a) 7 8 17 19 (Benefit)/provision for repurchase (b) (28 ) (136 ) (61 ) (264 ) Repurchase liability at end of period $ 231 $ 436 $ 231 $ 436 (a) Presented net of third-party recoveries and include principal losses and accrued interest on repurchased loans, “make-whole” settlements, settlements with claimants, and certain related expense. Make-whole settlements were $2 million and $1 million for the three months ended June 30, 2015 and 2014 , respectively, and $4 million and $3 million for the six months ended June 30, 2015 and 2014 , respectively. (b) Included a provision related to new loan sales of $1 million for each of the three months ended June 30, 2015 and 2014 , and $2 million for each of the six months ended June 30, 2015 and 2014 . 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 2014 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, 2015 , and December 31, 2014 , the unpaid principal balance of loans sold with recourse totaled $5.2 billion and $6.1 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 $92 million and $102 million at June 30, 2015 , and December 31, 2014 , respectively. |
Pledged assets and collateral
Pledged assets and collateral | 6 Months Ended |
Jun. 30, 2015 | |
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 2014 Annual Report . Pledged assets The Firm may pledge financial assets that it owns 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, 2015 , and December 31, 2014 , the Firm had pledged assets of $383.4 billion and $324.5 billion , respectively, at Federal Reserve Banks and Federal Home Loan Banks (“FHLBs”). In addition, as of June 30, 2015 , and December 31, 2014 , the Firm had pledged $56.8 billion and $60.1 billion , respectively, of financial assets 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 2014 Annual Report . Collateral At June 30, 2015 , and December 31, 2014 , the Firm had accepted financial assets as collateral that it could sell or repledge, deliver or otherwise use with a fair value of $775.0 billion and $761.7 billion , respectively. This collateral was generally obtained under resale agreements, securities borrowing agreements, customer margin loans and derivative agreements. Of the collateral received, $617.7 billion and $596.8 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, 2015 | |
Litigation [Abstract] | |
Litigation | Litigation Contingencies As of June 30, 2015 , the Firm and its subsidiaries are defendants or putative defendants in numerous legal proceedings, including private, civil litigations and regulatory/government investigations. The litigations range from individual actions involving a single plaintiff to class action lawsuits with potentially millions of class members. Investigations involve both formal and informal proceedings, by both governmental agencies and self-regulatory organizations. These legal proceedings are at varying stages of adjudication, arbitration or investigation, and involve each of the Firm’s lines of business and geographies and a wide variety of claims (including common law tort and contract claims and statutory antitrust, securities and consumer protection claims), some of which present novel legal theories. The Firm believes the estimate of the aggregate range of reasonably possible losses, in excess of reserves established, for its legal proceedings is from $0 to approximately $5.5 billion at June 30, 2015 . This estimated aggregate range of reasonably possible losses is based upon currently available information for those proceedings in which the Firm believes that an estimate of reasonably possible loss can be made. For certain cases, the Firm does not believe that such an estimate can be made. Moreover, the Firm’s estimate of the aggregate range of reasonably possible losses involves significant judgment, given the number, variety and varying stages of the proceedings (including the fact that many are 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, particularly proceedings that could result from government investigations. 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. Auto Dealer Regulatory Matter . The Firm is engaged in discussions with the U.S. Department of Justice (“DOJ”) about potential statistical disparities in markups charged to different races and ethnicities by automobile dealers on loans originated by those dealers and purchased by the Firm. CIO Litigation. The Firm has been sued in a consolidated shareholder putative class action, a consolidated putative class action brought under the Employee Retirement Income Security Act (“ERISA”) and seven shareholder derivative actions brought in Delaware state court and in New York federal and state courts relating to 2012 losses in the synthetic credit portfolio managed by the Firm’s Chief Investment Office (“CIO”). Six of the shareholder derivative actions have been dismissed. One of those dismissals has been affirmed on appeal and the plaintiff has filed a petition for en banc review. Plaintiffs in three other dismissed shareholder derivative actions have appealed those dismissals. 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. 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 a consolidated putative class action filed in the United States District Court for the Southern District of New York on behalf of purchasers and sellers of CDS. The complaint 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 market for exchange-traded CDS products. Defendants moved to dismiss this action, and in September 2014, the Court granted defendants’ motion in part, dismissing claims for damages based on transactions effected before the Autumn of 2008, as well as certain other claims. Custody Assets Investigation. The U.K. Financial Conduct Authority (“FCA”) is conducting an investigation concerning compliance by JPMorgan Chase Bank, N.A., London branch and J.P. Morgan Europe Limited with the FCA’s rules regarding the provision of custody services relating to the administration of client assets. JPMorgan Chase Bank, N.A., London branch and J.P. Morgan Europe Limited are responding to and cooperating with the investigation. Foreign Exchange Investigations and Litigation . The Firm previously reported settlements with certain government authorities relating to its foreign exchange (“FX”) sales and trading activities and controls related to those activities, including settlements in May 2015 with DOJ and the Board of Governors of the Federal Reserve System (the “Federal Reserve”). Under the DOJ settlement, the Firm agreed to plead guilty to a single violation of federal antitrust law and to pay a fine of $550 million . Under the Federal Reserve settlement, the Firm agreed to the entry of a Consent Order, to pay a fine of $342 million , and to take various remedial actions. FX-related investigations and inquiries by other non-U.S. government authorities, including competition authorities, remain ongoing, and the Firm is cooperating with those matters. Since November 2013, class actions have been filed in the United States District Court for the Southern District of New York against foreign exchange dealers, including the Firm, principally for alleged violations of federal antitrust laws based on an alleged conspiracy to manipulate foreign exchange rates reported on the WM/Reuters service. In March 2014, plaintiffs filed a consolidated amended U.S. class action complaint; two other class actions were brought by non-U.S.-based plaintiffs. The Court denied defendants’ motion to dismiss the U.S. class action and granted the motion to dismiss the two non-U.S. class actions. In January 2015, the Firm settled the U.S. class action, and this settlement is subject to court approval. Since this settlement, a number of additional class actions have been filed seeking damages for persons who transacted FX futures and options on futures, consumers who purchased foreign currencies at allegedly inflated rates, and participants or beneficiaries of qualified ERISA plans. General Motors Litigation. JPMorgan Chase Bank, N.A. participated in, and was the Administrative Agent on behalf of a syndicate of lenders on, a $1.5 billion syndicated Term Loan facility (“Term Loan”) for General Motors Corporation (“GM”). In July 2009, in connection with the GM bankruptcy proceedings, the Official Committee of Unsecured Creditors of Motors Liquidation Company (“Creditors Committee”) filed a lawsuit against JPMorgan Chase Bank, N.A., in its individual capacity and as Administrative Agent for other lenders on the Term Loan, seeking to hold the underlying lien invalid based on the filing of a UCC-3 termination statement relating to the Term Loan. In March 2013, the Bankruptcy Court granted JPMorgan Chase Bank, N.A.’s motion for summary judgment and dismissed the Creditors Committee’s complaint on the grounds that JPMorgan Chase Bank, N.A. did not authorize the filing of the UCC-3 termination statement at issue. The Creditors Committee appealed the Bankruptcy Court’s dismissal of its claim to the United States Court of Appeals for the Second Circuit. In January 2015, the Court of Appeals reversed the Bankruptcy Court’s dismissal of the Creditors Committee’s claim and remanded the case to the Bankruptcy Court with instructions to enter partial summary judgment for the Creditors Committee as to the termination statement. JPMorgan Chase Bank, N.A. then filed a petition requesting that the full Court of Appeals rehear the case en banc. In April 2015, the Court of Appeals issued an order denying the petition for rehearing en banc. Continued proceedings in the Bankruptcy Court are anticipated with respect to, among other things, additional defenses asserted by JPMorgan Chase Bank, N.A. and the value of additional collateral on the Term Loan, which was not the subject of the termination statement. In addition, two purported class actions have been filed by certain Term Loan lenders in federal court in New York against JPMorgan Chase Bank, N.A. and Simpson Thacher & Bartlett LLP, seeking indemnification and asserting claims for breach of contract, gross negligence and fraudulent concealment against JPMorgan Chase Bank, N.A. and claims for malpractice, professional negligence and negligent misrepresentation against Simpson Thacher & Bartlett LLP. 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, and oral argument has been scheduled for September 2015. 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. Defendants’ motion to dismiss the actions was denied in July 2014. 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. 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 certain of the claims in the amended complaint that sought to void the allegedly constructively fraudulent and preferential transfers made to the Firm during September 2008, but did not dismiss the other claims, including claims for duress and fraud. The Firm has filed counterclaims against LBHI alleging that LBHI fraudulently induced the Firm to make large extensions of credit against inappropriate collateral in connection with the Firm’s role as the clearing bank for Lehman Brothers Inc. (“LBI”), LBHI’s broker-dealer subsidiary. These extensions of credit left the Firm with more than $25 billion in claims against the estate of LBI. The case has been transferred from the Bankruptcy Court to the District Court, and the Firm has moved for summary judgment seeking the dismissal of all of LBHI’s claims. LBHI has also moved for summary judgment on certain of its claims and seeking the dismissal of the Firm’s counterclaims. In the Bankruptcy Court proceedings, LBHI and several of its subsidiaries that had been Chapter 11 debtors have filed a separate complaint and objection to derivatives claims asserted by the Firm alleging that the amount of the derivatives claims had been overstated and challenging certain set-offs taken by JPMorgan Chase entities to recover on the claims. The Firm responded to this separate complaint and objection in February 2013. LBHI and the Committee have also filed an objection to the claims asserted by JPMorgan Chase Bank, N.A. against LBHI with respect to clearing advances made to LBI, principally on the grounds that the Firm had not conducted the sale of the securities collateral held for its claims in a commercially reasonable manner. Discovery regarding both objections is ongoing. In January 2015, LBHI filed additional objections relating to a variety of claims that the Firm had filed in the Bankruptcy Court proceedings. The bankruptcy claims and other claims of the Firm against Lehman entities have been paid in full, subject to potential adjustment depending on the outcome of the objections filed by LBHI and the Committee. 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 DOJ, the U.S. Commodity Futures Trading Commission (“CFTC”), the U.S. Securities and Exchange Commission (“SEC”) and various state attorneys general, as well as the EC, the FCA, the Canadian Competition Bureau, the 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 processes for the setting of U.S. dollar ISDAFIX rates and 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. As previously reported, the Firm has resolved EC inquiries relating to Yen LIBOR and Swiss Franc LIBOR. In May 2014, the EC issued a Statement of Objections outlining its case against the Firm (and others) as to EURIBOR, to which the Firm has filed a response and made oral representations. Other inquiries have been discontinued without any action against JPMorgan Chase, including by the FCA and the Canadian Competition Bureau. 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, Swiss franc 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 affected by changes in U.S. dollar LIBOR, Yen LIBOR, Swiss franc LIBOR, Euroyen TIBOR or EURIBOR and assert a variety of claims including antitrust claims seeking treble damages. The U.S. dollar LIBOR-related putative class actions and most U.S. dollar LIBOR-related individual actions were consolidated for pre-trial purposes in the United States District Court for the Southern District of New York (“Multi-District Litigation”). In March 2013, the Court granted in part and denied in part the defendants’ motions to dismiss the claims in the three lead putative class actions, dismissing with prejudice the antitrust claims, and permitting certain claims under the Commodity Exchange Act and common law. In September 2013, class plaintiffs in two of the three lead putative class actions filed amended complaints, which defendants moved to dismiss. In June 2014, the Court granted in part and denied in part defendants’ motions to dismiss, further limiting the subset of Commodity Exchange Act and common law claims that may proceed. Plaintiffs in the third putative class action appealed the dismissal of the antitrust claims, and the United States Court of Appeals for the Second Circuit dismissed the appeal for lack of jurisdiction. In January 2015, the United States Supreme Court reversed the decision of the Court of Appeals, holding that plaintiffs have the jurisdictional right to appeal, and remanded the case to the Court of Appeals for further proceedings. Motions to dismiss are pending in numerous individual actions and three additional putative class actions. Several other individual and class actions remain stayed. The Firm is one of the defendants in a putative class action alleging manipulation of Euroyen TIBOR and Yen LIBOR which 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. In June 2014, the plaintiff moved to amend the complaint to include new claims, plaintiffs and defendants. In March 2015, the Court denied the request to add new claims and plaintiffs, but granted the addition of new defendants. The plaintiff has moved for interlocutory appeal of the Court’s denial of the motion to amend, while discovery proceeds. The Firm is one of the defendants in a putative class action filed in the United States District Court for the Southern District of New York relating to the interest rate benchmark EURIBOR. The case is currently stayed. The Firm is also a defendant in a putative class action filed in the United States District Court for the Southern District of New York relating to the interest rate benchmark Swiss franc LIBOR. The Firm is one of the defendants in a number of putative class actions alleging that defendant banks and ICAP conspired to manipulate the U.S. dollar ISDAFIX rates. Plaintiffs primarily assert claims under the federal antitrust laws and Commodities Exchange Act. In February 2015, plaintiffs filed a consolidated amended class action complaint, which defendants have moved to dismiss. Madoff Litigation. 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, 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 putative 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 putative class action in the same court. The allegations in these complaints largely track those previously raised by the court-appointed trustee for Bernard L. Madoff Investment Securities LLC. The District Court dismissed these complaints and the United States Court of Appeals for the Second Circuit affirmed the District Court’s decision. The United States Supreme Court denied plaintiffs’ petition for a writ of certiorari in March 2015. The Firm is a defendant in five other Madoff-related individual 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. In August 2014, the Court dismissed all claims against the Firm. Plaintiffs have filed a notice of appeal. A putative 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 previous class action settlement. These plaintiffs allege violations of the federal securities law, federal and state racketeering statutes and multiple common law and statutory claims including breach of trust, aiding and abetting embezzlement, unjust enrichment, conversion and commercial bad faith. A similar action has been filed in the United States District Court for the Middle District of Florida, although it is not styled as a class action, and includes a claim pursuant to a Florida statute. The Firm has moved to transfer both the Florida and New Jersey actions to the United States District Court for the Southern District of New York. The Florida court denied the transfer motion in January 2015. In March 2015, the New Jersey court granted the transfer motion, and plaintiffs’ appeal of that decision is pending. The Firm has also moved to dismiss the Florida action, and that motion is pending. 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. One plaintiff chose not to appeal and the other filed a motion for reconsideration which was denied in November 2014. The latter plaintiff has filed an appeal. In the remaining state court action, a hearing on defendants’ motion to dismiss was held in October 2014, and the court reserved decision. MF Global. J.P. Morgan Securities LLC has been named as one of several defendants in a number of putative 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 settlement of these actions has received final approval from the court. 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 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 $22.8 billion , of which $20.7 billion involves JPMC, Bear Stearns or Washington Mutual as issuer and $2.1 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. JPMC is defending a class action in which plaintiffs’ motion for class certification has been granted with respect to liability but denied without prejudice as to damages. In this action, the parties have reached a settlement that is subject to court approval. In April 2015, the Firm finalized a settlement to resolve a putative class action brought against Bear Stearns in the United States District Court for the District of Massachusetts. In May 2015, the United States District Court for the Southern District of New York granted final approval to the settlement in a separate class action concerning Bear Stearns. 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). The Firm has settled a number of these actions. Several actions remain pending in federal and state courts across the U.S. and are in various stages of litigation. Monoline Insurer Litigation. The Firm is defending two pending actions relating to the same 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 involving offerings where the Firm was solely 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. Currently there is one such action pending against the Firm relating to a single offering of another issuer, and in a previously settled action certain class members have filed a notice of appeal challenging the lower court’s approval of the settlement. Repurchase Litigation. The Firm is defending a number of actions brought by trustees, securities administrators 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. 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 and a group of 21 institutional MBS investors 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 330 MBS trusts issued between 2005 and 2008. The offer does not resolve claims relating to Washington Mutual MBS. The seven trustees (or separate and successor trustees) for this group of 330 trusts have accepted the settlement for 319 trusts in whole or in part and excluded from the settlement 16 trusts in whole or in part. The trustees’ acceptance is subject to a judicial approval proceeding initiated by the trustees and pending in New York state court. Certain investors in some of the trusts for which the settlement has been accepted have intervened in the judicial approval proceeding, challenging the trustees’ acceptance of the settlement. A final hearing date has been scheduled for January 2016. Additional actions have been filed against third-party trustees that relate to loan repurchase and servicing claims 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 one is on appeal. A consolidated action in California federal court has been dismissed without prejudice for lack of personal jurisdiction and plaintiffs are pursuing discovery. 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 subpoenas and informal requests for information from 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 continues to cooperate with investigations by DOJ, including the U.S. Attorney’s Office for the District of Connecticut, the SEC Division of Enforcement and the Office of the Special Inspector General for the Troubled Asset Relief Program, 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. In January 2015, the Firm entered into a settlement resolving this action. The Firm entered into a settlement resolving a putative class action lawsuit relating to its filing of affidavits or other documents in connection with mortgage foreclosure proceedings, and the court granted final approval of the settlement in January 2015. 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 December 2014, the court granted defendants’ motion to dismiss the complaint, and plaintiff has filed a notice of appeal. 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 and a school district have commenced litigation against the Firm alleging violations of an unfair competition law and of the FHA and ECOA and seeking statutory damages for the unfair competition claim, and, for the FHA and ECOA claims, damages in the form of lost tax revenue and increased munici |
Business segments
Business segments | 6 Months Ended |
Jun. 30, 2015 | |
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 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 16 , and pages 79–80, and Note 33 of JPMorgan Chase’s 2014 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, 2015 and 2014, 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). On at least an annual basis, the Firm assesses the level of capital required for each line of business as well as the assumptions and methodologies used to allocate capital to its lines of business and updates equity allocations to its lines of business as refinements are implemented. Segment results and reconciliation (a) As of or for the three months ended June 30, (in millions, except ratios) Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset Management 2015 2014 2015 2014 2015 2014 2015 2014 Noninterest revenue $ 4,089 $ 4,468 $ 6,233 $ 6,519 $ 609 $ 577 $ 2,544 $ 2,380 Net interest income 6,926 7,050 2,490 2,746 1,130 1,154 631 602 Total net revenue 11,015 11,518 8,723 9,265 1,739 1,731 3,175 2,982 Provision for credit losses 702 852 50 (84 ) 182 (67 ) — 1 Noninterest expense 6,210 6,456 5,137 6,058 703 675 2,406 2,062 Income/(loss) before income tax expense/(benefit) 4,103 4,210 3,536 3,291 854 1,123 769 919 Income tax expense/(benefit) 1,570 1,714 1,195 1,160 329 446 318 350 Net income $ 2,533 $ 2,496 $ 2,341 $ 2,131 $ 525 $ 677 $ 451 $ 569 Average common equity $ 51,000 $ 51,000 $ 62,000 $ 61,000 $ 14,000 $ 14,000 $ 9,000 $ 9,000 Total assets 472,181 447,277 819,745 872,947 201,377 192,523 134,059 128,362 Return on common equity 19% 19% 14% 13% 14% 19% 19% 25% Overhead ratio 56 56 59 65 40 39 76 69 As of or for the three months ended June 30, (in millions, except ratios) Corporate Reconciling Items (b) Total 2015 2014 2015 2014 2015 2014 Noninterest revenue $ 100 $ 351 $ (447 ) $ (415 ) $ 13,128 $ 13,880 Net interest income (221 ) (510 ) (272 ) $ (244 ) 10,684 10,798 Total net revenue (121 ) (159 ) (719 ) $ (659 ) 23,812 24,678 Provision for credit losses 1 (10 ) — — 935 692 Noninterest expense 44 180 — — 14,500 15,431 Income/(loss) before income tax expense/(benefit) (166 ) (329 ) (719 ) (659 ) 8,377 8,555 Income tax expense/(benefit) (606 ) (436 ) (719 ) (659 ) 2,087 2,575 Net income $ 440 $ 107 $ — $ — $ 6,290 $ 5,980 Average common equity $ 77,738 $ 71,159 $ — $ — $ 213,738 $ 206,159 Total assets 822,237 878,886 NA NA 2,449,599 2,519,995 Return on common equity NM NM NM NM 11 % 11 % Overhead ratio NM NM NM NM 61 63 Segment results and reconciliation (a) As of or for the six months ended June 30, (in millions, except ratios) Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset Management 2015 2014 2015 2014 2015 2014 2015 2014 Noninterest revenue $ 7,825 $ 7,902 $ 13,307 $ 12,745 $ 1,245 $ 1,135 $ 4,928 $ 4,598 Net interest income 13,894 14,150 4,998 5,362 2,236 2,274 1,252 1,184 Total net revenue 21,719 22,052 18,305 18,107 3,481 3,409 6,180 5,782 Provision for credit losses 1,632 1,668 19 (35 ) 243 (62 ) 4 (8 ) Noninterest expense 12,400 12,893 10,794 11,662 1,412 1,361 4,581 4,137 Income/(loss) before income tax expense/(benefit) 7,687 7,491 7,492 6,480 1,826 2,110 1,595 1,653 Income tax expense/(benefit) 2,935 3,014 2,614 2,224 703 839 642 630 Net income $ 4,752 $ 4,477 $ 4,878 $ 4,256 $ 1,123 $ 1,271 $ 953 $ 1,023 Average common equity $ 51,000 $ 51,000 $ 62,000 $ 61,000 $ 14,000 $ 14,000 $ 9,000 $ 9,000 Total assets 472,181 447,277 819,745 872,947 201,377 192,523 134,059 128,362 Return on common equity 18% 17 % 15% 13 % 15% 18 % 21% 22 % Overhead ratio 57 58 59 64 41 40 74 72 As of or for the six months ended June 30, (in millions, except ratios) Corporate Reconciling Items (b) Total 2015 2014 2015 2014 2015 2014 Noninterest revenue $ 140 $ 875 $ (928 ) $ (827 ) $ 26,517 $ 26,428 Net interest income (474 ) (1,035 ) (545 ) (470 ) 21,361 21,465 Total net revenue (334 ) (160 ) (1,473 ) (1,297 ) 47,878 47,893 Provision for credit losses (4 ) (21 ) — — 1,894 1,542 Noninterest expense 196 14 — — 29,383 30,067 Income/(loss) before income tax expense/(benefit) (526 ) (153 ) (1,473 ) (1,297 ) 16,601 16,284 Income tax expense/(benefit) (1,024 ) (375 ) (1,473 ) (1,297 ) 4,397 5,035 Net income $ 498 $ 222 $ — $ — $ 12,204 $ 11,249 Average common equity $ 77,049 $ 68,989 $ — $ — $ 213,049 $ 203,989 Total assets 822,237 878,886 NA NA 2,449,599 2,519,995 Return on common equity NM NM NM NM 11% 11 % Overhead ratio NM NM NM NM 61 63 (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 an 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, 2015 | |
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 in the preparation of consolidated financial statements 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. |
New accounting guidance | Effective January 1, 2015, the Firm adopted new accounting guidance for investments in affordable housing projects that qualify for the low-income housing tax credit, which impacted the Corporate & Investment Bank (“CIB”). As a result of the adoption of this new guidance, the Firm made an accounting policy election to amortize the initial cost of its qualifying investments in proportion to the tax credits and other benefits received, and to present the amortization as a component of income tax expense; previously such amounts were predominantly presented in other income. The guidance was required to be applied retrospectively and accordingly, certain prior period amounts have been revised to conform with the current period presentation. The cumulative effect on retained earnings was a reduction of $321 million as of January 1, 2014. The adoption of this accounting guidance resulted in an increase of $224 million and $229 million in other income and income tax expense, respectively, for the three months ended June 30, 2014, and $446 million and $456 million , respectively, for the six months ended June 30, 2014, which led to an increase of approximately 2% in the effective tax rate for the three and six months ended June 30, 2014. The impact on net income and earnings per share in the periods affected was not material. The Firm recognized $381 million and $384 million of tax credits and other tax benefits associated with these investments within Income tax expense for the three months ended June 30, 2015 and 2014, respectively, and $758 million and $763 million for the six months ended June 30, 2015 and 2014, respectively. The amount of amortization of such investments reported in income tax expense under the current period presentation was $281 million and $267 million , for the three months ended June 30, 2015 and 2014, respectively, and $555 million and $531 million for the six months ended June 30, 2015, respectively. The carrying value of investments in affordable housing projects was $7.1 billion and $7.3 billion at June 30, 2015 and December 31, 2014, respectively. These investments are reported in other assets on the Firm’s Consolidated balance sheets. The amount of commitments related to these investments was $1.7 billion and $1.8 billion at June 30, 2015, and December 31, 2014, respectively. These commitments are reported in accounts payable and other liabilities on the Firm’s Consolidated balance sheets. |
Offsetting assets and liabilities 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. |
Derivative Instruments Derivati
Derivative Instruments Derivatives executed in contemplation of a sale of the underlying financial asset (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Transfers and Servicing of Financial Assets, Transfers of Financial Assets, Financings | In certain instances the Firm enters into transactions where it transfers financial assets but maintains the economic exposure to the transferred assets by entering into a derivative with the same counterparty in contemplation of the initial transfer. The Firm generally accounts for such transfers as collateralized financing transactions as described in Note 12, but in limited circumstances they may qualify to be accounted for as a sale and a derivative under U.S. GAAP. |
Securities (Policies)
Securities (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable Securities, Available-for-sale Securities, Policy | Securities are classified as trading, AFS or held-to-maturity (“HTM”). |
Variable Interest Entities (Pol
Variable Interest Entities (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
Variable Interest Entities [Abstract] | |
Transfers and Servicing of Financial Assets, Policy | In addition to the Firm’s obligation to repurchase certain loans due to material breaches of representations and warranties as discussed in Note 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 typically elects to repurchase delinquent loans from Ginnie Mae loan pools as it continues to service them and/or manage the foreclosure process in accordance with the applicable requirements, and such loans continue to be insured or guaranteed. When the Firm’s repurchase option becomes exercisable, such loans must be reported on the Consolidated balance sheets as a loan with a corresponding liability. |
Goodwill and other intangible37
Goodwill and other intangible assets (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Mortgage servicing rights policy | MSRs 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, 2015 | |
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, 2015 , and December 31, 2014 , by major product category and fair value hierarchy. Assets and liabilities measured at fair value on a recurring basis Fair value hierarchy Derivative netting adjustments June 30, 2015 (in millions) Level 1 Level 2 Level 3 Total fair value Federal funds sold and securities purchased under resale agreements $ — $ 28,670 $ — $ — $ 28,670 Securities borrowed — 495 — — 495 Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies (a) 5 27,893 901 — 28,799 Residential – nonagency — 1,960 123 — 2,083 Commercial – nonagency — 1,173 138 — 1,311 Total mortgage-backed securities 5 31,026 1,162 — 32,193 U.S. Treasury and government agencies (a) 19,151 6,664 — 25,815 Obligations of U.S. states and municipalities — 6,764 1,247 — 8,011 Certificates of deposit, bankers’ acceptances and commercial paper — 947 — — 947 Non-U.S. government debt securities 25,313 29,106 208 — 54,627 Corporate debt securities — 24,855 943 — 25,798 Loans (b) — 24,419 9,563 — 33,982 Asset-backed securities — 2,699 1,539 — 4,238 Total debt instruments 44,469 126,480 14,662 — 185,611 Equity securities 107,828 448 310 — 108,586 Physical commodities (c) 3,714 1,185 — — 4,899 Other — 10,286 969 — 11,255 Total debt and equity instruments (d) 156,011 138,399 15,941 — 310,351 Derivative receivables: Interest rate 592 652,204 3,867 (625,340 ) 31,323 Credit — 51,926 2,651 (53,256 ) 1,321 Foreign exchange 758 171,741 2,351 (156,510 ) 18,340 Equity — 40,618 1,772 (36,332 ) 6,058 Commodity 191 29,254 487 (19,523 ) 10,409 Total derivative receivables (e) 1,541 945,743 11,128 (890,961 ) 67,451 Total trading assets 157,552 1,084,142 27,069 (890,961 ) 377,802 Available-for-sale securities: Mortgage-backed securities: U.S. government agencies (a) — 57,315 — — 57,315 Residential – nonagency — 39,560 13 — 39,573 Commercial – nonagency — 22,207 — — 22,207 Total mortgage-backed securities — 119,082 13 — 119,095 U.S. Treasury and government agencies (a) 11,544 46 — — 11,590 Obligations of U.S. states and municipalities — 31,424 — — 31,424 Certificates of deposit — 429 — — 429 Non-U.S. government debt securities 23,548 19,244 — — 42,792 Corporate debt securities — 15,822 — — 15,822 Asset-backed securities: Collateralized loan obligations — 30,600 772 — 31,372 Other — 10,866 90 — 10,956 Equity securities 2,721 — — — 2,721 Total available-for-sale securities 37,813 227,513 875 — 266,201 Loans — 136 2,295 — 2,431 Mortgage servicing rights (“MSRs”) — — 7,571 — 7,571 Other assets: Private equity investments (f) 144 164 1,987 — 2,295 All other 3,948 26 839 — 4,813 Total other assets 4,092 190 2,826 — 7,108 Total assets measured at fair value on a recurring basis $ 199,457 $ 1,341,146 (g) $ 40,636 (g) $ (890,961 ) $ 690,278 Deposits $ — $ 7,957 $ 3,528 $ — $ 11,485 Federal funds purchased and securities loaned or sold under repurchase agreements — 3,586 — — 3,586 Other borrowed funds — 12,726 1,261 — 13,987 Trading liabilities: Debt and equity instruments (d) 63,033 17,291 72 — 80,396 Derivative payables: Interest rate 509 618,340 3,008 (607,977 ) 13,880 Credit — 51,611 2,219 (52,568 ) 1,262 Foreign exchange 759 186,948 1,946 (171,197 ) 18,456 Equity — 44,358 3,620 (36,439 ) 11,539 Commodity 102 31,496 1,081 (18,790 ) 13,889 Total derivative payables (e) 1,370 932,753 11,874 (886,971 ) 59,026 Total trading liabilities 64,403 950,044 11,946 (886,971 ) 139,422 Accounts payable and other liabilities — — 23 — 23 Beneficial interests issued by consolidated VIEs — 190 1,140 — 1,330 Long-term debt — 18,727 12,589 — 31,316 Total liabilities measured at fair value on a recurring basis $ 64,403 $ 993,230 $ 30,487 $ (886,971 ) $ 201,149 Fair value hierarchy Derivative netting adjustments December 31, 2014 (in millions) Level 1 Level 2 Level 3 Total fair value Federal funds sold and securities purchased under resale agreements $ — $ 28,585 $ — $ — $ 28,585 Securities borrowed — 992 — — 992 Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies (a) 14 31,904 922 — 32,840 Residential – nonagency — 1,381 663 — 2,044 Commercial – nonagency — 927 306 — 1,233 Total mortgage-backed securities 14 34,212 1,891 — 36,117 U.S. Treasury and government agencies (a) 17,816 8,460 — — 26,276 Obligations of U.S. states and municipalities — 9,298 1,273 — 10,571 Certificates of deposit, bankers’ acceptances and commercial paper — 1,429 — — 1,429 Non-U.S. government debt securities 25,854 27,294 302 — 53,450 Corporate debt securities — 28,099 2,989 — 31,088 Loans (b) — 23,080 13,287 — 36,367 Asset-backed securities — 3,088 1,264 — 4,352 Total debt instruments 43,684 134,960 21,006 — 199,650 Equity securities 104,890 624 431 — 105,945 Physical commodities (c) 2,739 1,741 2 — 4,482 Other — 8,762 1,050 — 9,812 Total debt and equity instruments (d) 151,313 146,087 22,489 — 319,889 Derivative receivables: Interest rate 473 945,635 4,149 (916,532 ) 33,725 Credit — 73,853 2,989 (75,004 ) 1,838 Foreign exchange 758 212,153 2,276 (193,934 ) 21,253 Equity — 39,937 2,552 (34,312 ) 8,177 Commodity 247 42,807 599 (29,671 ) 13,982 Total derivative receivables (e) 1,478 1,314,385 12,565 (1,249,453 ) 78,975 Total trading assets 152,791 1,460,472 35,054 (1,249,453 ) 398,864 Available-for-sale securities: Mortgage-backed securities: U.S. government agencies (a) — 65,319 — — 65,319 Residential – nonagency — 50,865 30 — 50,895 Commercial – nonagency — 21,009 99 — 21,108 Total mortgage-backed securities — 137,193 129 — 137,322 U.S. Treasury and government agencies (a) 13,591 54 — — 13,645 Obligations of U.S. states and municipalities — 30,068 — — 30,068 Certificates of deposit — 1,103 — — 1,103 Non-U.S. government debt securities 24,074 28,669 — — 52,743 Corporate debt securities — 18,532 — — 18,532 Asset-backed securities: Collateralized loan obligations — 29,402 792 — 30,194 Other — 12,499 116 — 12,615 Equity securities 2,530 — — — 2,530 Total available-for-sale securities 40,195 257,520 1,037 — 298,752 Loans — 70 2,541 — 2,611 Mortgage servicing rights — — 7,436 — 7,436 Other assets: — Private equity investments (f) 648 2,624 2,225 — 5,497 All other 4,018 17 959 — 4,994 Total other assets 4,666 2,641 3,184 — 10,491 Total assets measured at fair value on a recurring basis $ 197,652 $ 1,750,280 $ 49,252 $ (1,249,453 ) $ 747,731 Deposits $ — $ 5,948 $ 2,859 $ — $ 8,807 Federal funds purchased and securities loaned or sold under repurchase agreements — 2,979 — — 2,979 Other borrowed funds — 13,286 1,453 — 14,739 Trading liabilities: Debt and equity instruments (d) 62,914 18,713 72 — 81,699 Derivative payables: — Interest rate 499 914,357 3,523 (900,634 ) 17,745 Credit — 73,095 2,800 (74,302 ) 1,593 Foreign exchange 746 221,066 2,802 (201,644 ) 22,970 Equity — 41,925 4,337 (34,522 ) 11,740 Commodity 141 44,318 1,164 (28,555 ) 17,068 Total derivative payables (e) 1,386 1,294,761 14,626 (1,239,657 ) 71,116 Total trading liabilities 64,300 1,313,474 14,698 (1,239,657 ) 152,815 Accounts payable and other liabilities — — 26 — 26 Beneficial interests issued by consolidated VIEs — 1,016 1,146 — 2,162 Long-term debt — 18,349 11,877 — 30,226 Total liabilities measured at fair value on a recurring basis $ 64,300 $ 1,355,052 $ 32,059 $ (1,239,657 ) $ 211,754 Note: Effective April 1, 2015, the Firm adopted new accounting guidance for investments in certain entities that calculate net asset value per share (or its equivalent). As a result of the adoption of this new guidance, certain investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient are not required to be classified in the fair value hierarchy. At June 30, 2015, and December 31, 2014, the fair values of these investments, which include certain hedge funds, private equity funds, real estate and other funds, were $1.6 billion and $1.5 billion , respectively, of which $337 million and $1.2 billion had been previously classified in level 2 and level 3, respectively, at December 31, 2014. Included in the balances at June 30, 2015, and December 31, 2014, were trading assets of $68 million and $124 million , respectively, and other assets of $1.5 billion and $1.4 billion , respectively. The guidance was required to be applied retrospectively, and accordingly, prior period amounts have been revised to conform with the current period presentation. (a) At June 30, 2015 , and December 31, 2014, included total U.S. government-sponsored enterprise obligations of $67.4 billion and $84.1 billion , respectively, which were predominantly mortgage-related. (b) At June 30, 2015 , and December 31, 2014, included within trading loans were $13.7 billion and $17.0 billion , respectively, of residential first-lien mortgages, and $4.6 billion and $5.8 billion , respectively, of commercial first-lien mortgages. Residential mortgage loans include conforming mortgage loans originated with the intent to sell to U.S. government agencies of $6.0 billion and $7.7 billion , respectively, and reverse mortgages of $2.8 billion and $3.4 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 identical securities sold but not yet purchased (short positions). (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. 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 $1.9 billion and $2.5 billion at June 30, 2015 , and December 31, 2014, 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 line of business. The cost basis of the private equity investment portfolio totaled $4.0 billion and $6.0 billion at June 30, 2015 , and December 31, 2014, respectively. |
Fair value inputs, assets and liabilities, quantitative information | Level 3 inputs (a) June 30, 2015 (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 $ 6,287 Discounted cash flows Yield 3 % – 45% 6 % Prepayment speed 0 % – 16% 6 % Conditional default rate 0 % – 100% 13 % Loss severity 0 % – 100% 28 % Commercial mortgage-backed securities and loans (b) 4,136 Discounted cash flows Yield 1 % – 25% 4 % Conditional default rate 0 % – 94% 8 % Loss severity 40% 40 % Corporate debt securities, obligations of U.S. states and municipalities, and other (c) 3,956 Discounted cash flows Credit spread 60 bps – 270 bps 231 bps Yield 1 % – 18% 5 % 4,652 Market comparables Price $ — – $129 $ 92 Net interest rate derivatives 859 Option pricing Interest rate correlation (54 )% – 99% Interest rate spread volatility 4 % – 26% Net credit derivatives (b)(c) 432 Discounted cash flows Credit correlation 40 % – 90% Net foreign exchange derivatives 405 Option pricing Foreign exchange correlation 0 % – 60% Net equity derivatives (1,848 ) Option pricing Equity volatility 20 % – 65% Net commodity derivatives (594 ) Discounted cash flows Forward commodity price $ 50 – $90 per barrel Collateralized loan obligations 772 Discounted cash flows Credit spread 289 bps – 399 bps 305 bps Prepayment speed 20 % 20 % Conditional default rate 2 % 2 % Loss severity 40 % 40 % 146 Market comparables Price $ — – $99 $ 70 Mortgage servicing rights (“MSRs”) 7,571 Discounted cash flows Refer to Note 16 Private equity investments 1,987 Market comparables EBITDA multiple 6.7x – 9.9x 8.3x Liquidity adjustment 0 % – 17% 8 % Long-term debt, other borrowed funds, and deposits (d) 15,661 Option pricing Interest rate correlation (54 )% – 99% Interest rate spread volatility 4 % – 26% Foreign exchange correlation 0 % – 60% Equity correlation (50 )% – 80% 1,717 Discounted cash flows Credit correlation 40 % – 90% (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 $450 million of credit derivative receivables and $396 million of credit derivative payables with underlying commercial mortgage risk have been included in the inputs and ranges provided for commercial mortgage-backed securities (“MBS”) and loans. (c) The unobservable inputs and associated input ranges for approximately $617 million of credit derivative receivables and $569 million of credit derivative payables with underlying asset-backed securities (“ABS”) 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. |
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, 2015 and 2014. 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, 2015 (in millions) Fair value at April 1, 2015 Total realized/unrealized gains/(losses) Transfers into and/or out of level 3 (h) Fair value at June 30, 2015 Change in unrealized gains/(losses) related to financial instruments held at June 30, 2015 Purchases (g) Sales Settlements Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies $ 888 $ 91 $ 108 $ (148 ) $ (34 ) $ (4 ) $ 901 $ 84 Residential – nonagency 449 54 25 (116 ) (4 ) (285 ) 123 28 Commercial – nonagency 211 2 98 (49 ) (6 ) (118 ) 138 (2 ) Total mortgage-backed securities 1,548 147 231 (313 ) (44 ) (407 ) 1,162 110 Obligations of U.S. states and municipalities 1,331 3 47 (39 ) (2 ) (93 ) 1,247 3 Non-U.S. government debt securities 180 8 54 (20 ) (11 ) (3 ) 208 16 Corporate debt securities 2,759 5 288 (313 ) 57 (1,853 ) 943 10 Loans 10,763 294 1,160 (1,152 ) (350 ) (1,152 ) 9,563 264 Asset-backed securities 1,233 21 737 (371 ) (26 ) (55 ) 1,539 15 Total debt instruments 17,814 478 2,517 (2,208 ) (376 ) (3,563 ) 14,662 418 Equity securities 317 8 21 (13 ) (14 ) (9 ) 310 9 Other 1,041 80 450 (451 ) (137 ) (14 ) 969 (3 ) Total trading assets – debt and equity instruments 19,172 566 (c) 2,988 (2,672 ) (527 ) (3,586 ) 15,941 424 (c) Net derivative receivables: (a) Interest rate 650 351 133 (84 ) (98 ) (93 ) 859 309 Credit 275 17 1 (1 ) 107 33 432 22 Foreign exchange 707 118 8 (8 ) (187 ) (233 ) 405 245 Equity (2,745 ) 801 216 (383 ) 93 170 (1,848 ) 621 Commodity (735 ) 129 — — 47 (35 ) (594 ) 180 Total net derivative receivables (1,848 ) 1,416 (c) 358 (476 ) (38 ) (158 ) (746 ) 1,377 (c) Available-for-sale securities: Asset-backed securities 881 2 — — (21 ) — 862 2 Other 122 — — — (10 ) (99 ) 13 — Total available-for-sale securities 1,003 2 (d) — — (31 ) (99 ) 875 2 (d) Loans 2,222 85 (c) 297 — (309 ) — 2,295 83 (c) Mortgage servicing rights 6,641 794 (e) 583 (218 ) (229 ) — 7,571 794 (e) Other assets: Private equity investments 2,314 11 (c) 7 (27 ) (295 ) (23 ) 1,987 (14 ) (c) All other 894 12 (f) 11 (57 ) (21 ) — 839 3 (f) Fair value measurements using significant unobservable inputs Three months ended Fair value at April 1, 2015 Total realized/unrealized (gains)/losses Transfers into and/or out of level 3 (h) Fair value at Change in unrealized (gains)/losses related Purchases Sales Issuances Settlements Liabilities: (b) Deposits $ 3,340 $ (156 ) (c) $ — $ — $ 673 $ (30 ) $ (299 ) $ 3,528 $ (139 ) (c) Other borrowed funds 1,116 (4 ) (c) 45 — 1,274 (1,161 ) (9 ) 1,261 38 (c) Trading liabilities – debt and equity instruments 82 2 (c) (23 ) 21 — (5 ) (5 ) 72 2 (c) Accounts payable and other liabilities 23 — — — — — — 23 — Beneficial interests issued by consolidated VIEs 1,023 36 (c) (16 ) — 284 (187 ) — 1,140 26 (c) Long-term debt 12,003 (92 ) (c) — — 2,546 (1,774 ) (94 ) 12,589 19 (c) Fair value measurements using significant unobservable inputs Three months ended June 30, 2014 (in millions) 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 to financial instruments held at June 30, 2014 Purchases (g) Sales Settlements 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 868 19 49 (56 ) (22 ) (167 ) 691 83 Physical commodities 3 — — — — — 3 — Other 1,284 266 656 (127 ) (67 ) 329 2,341 173 Total trading assets – debt and equity instruments 24,306 903 (c) 6,282 (3,351 ) (2,315 ) (58 ) 25,767 746 (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 ) (143 ) (i) 57 (i) (547 ) (i) (74 ) (i) (439 ) (i) (2,206 ) (204 ) Commodity (58 ) (18 ) — — 29 (75 ) (122 ) 16 Total net derivative receivables (66 ) (426 ) (c)(i) 304 (i) (634 ) (i) (345 ) (i) (688 ) (i) (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 4,946 144 (c) 22 (470 ) (8 ) (4 ) 4,630 128 (c) All other 1,295 17 (f) 3 (102 ) (14 ) — 1,199 17 (f) Fair value measurements using significant unobservable inputs Fair value at April 1, 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 Purchases Sales Issuances Settlements 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 — 27 (f) — — — — — 27 27 (f) 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 Six months ended Fair value at January 1, 2015 Total realized/unrealized gains/(losses) Transfers into and/or out of level 3 (h) Fair value at Change in unrealized gains/(losses) related Purchases (g) Sales Settlements Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies $ 922 $ 38 $ 182 $ (165 ) $ (74 ) $ (2 ) $ 901 $ 40 Residential – nonagency 663 44 177 (463 ) (10 ) (288 ) 123 26 Commercial – nonagency 306 (9 ) 180 (200 ) (14 ) (125 ) 138 (6 ) Total mortgage-backed securities 1,891 73 539 (828 ) (98 ) (415 ) 1,162 60 Obligations of U.S. states and municipalities 1,273 13 191 (110 ) (27 ) (93 ) 1,247 12 Non-U.S. government debt securities 302 9 155 (112 ) (42 ) (104 ) 208 19 Corporate debt securities 2,989 (50 ) 821 (809 ) (35 ) (1,973 ) 943 18 Loans 13,287 9 1,896 (3,149 ) (819 ) (1,661 ) 9,563 (67 ) Asset-backed securities 1,264 (16 ) 1,296 (892 ) 6 (119 ) 1,539 (14 ) Total debt instruments 21,006 38 4,898 (5,900 ) (1,015 ) (4,365 ) 14,662 28 Equity securities 431 46 50 (123 ) (17 ) (77 ) 310 51 Other 1,052 88 1,111 (1,035 ) (216 ) (31 ) 969 14 Total trading assets – debt and equity instruments 22,489 172 (c) 6,059 (7,058 ) (1,248 ) (4,473 ) 15,941 93 (c) Net derivative receivables: (a) Interest rate 626 493 442 (158 ) (353 ) (191 ) 859 541 Credit 189 94 10 (4 ) 126 17 432 195 Foreign exchange (526 ) 945 13 (11 ) 14 (30 ) 405 551 Equity (1,785 ) 325 424 (672 ) (262 ) 122 (1,848 ) 137 Commodity (565 ) 89 — — (51 ) (67 ) (594 ) (101 ) Total net derivative receivables (2,061 ) 1,946 (c) 889 (845 ) (526 ) (149 ) (746 ) 1,323 (c) Available-for-sale securities: Asset-backed securities 908 (7 ) 49 (43 ) (45 ) — 862 (2 ) Other 129 — — — (17 ) (99 ) 13 — Total available-for-sale securities 1,037 (7 ) (d) 49 (43 ) (62 ) (99 ) 875 (2 ) (d) Loans 2,541 (120 ) (c) 417 (83 ) (460 ) — 2,295 (118 ) (c) Mortgage servicing rights 7,436 215 (e) 739 (375 ) (444 ) — 7,571 215 (e) Other assets: Private equity investments 2,475 47 (c) 7 (27 ) (366 ) (149 ) 1,987 (16 ) (c) All other 965 10 (f) 65 (143 ) (58 ) — 839 (16 ) (f) Fair value measurements using significant unobservable inputs Six months ended Fair value at January 1, 2015 Total realized/unrealized (gains)/losses Transfers into and/or out of level 3 (h) Fair value at Change in unrealized (gains)/losses related Purchases Sales Issuances Settlements Liabilities: (b) Deposits $ 2,859 $ (64 ) (c) $ — $ — $ 1,448 $ (145 ) $ (570 ) $ 3,528 $ 7 (c) Other borrowed funds 1,453 (123 ) (c) 45 — 2,322 (2,142 ) (294 ) 1,261 (122 ) (c) Trading liabilities – debt and equity instruments 72 5 (c) (131 ) 147 — (14 ) (7 ) 72 8 (c) Accounts payable and other liabilities 26 — (c) — — — (3 ) — 23 — (c) Beneficial interests issued by consolidated VIEs 1,146 (17 ) (c) (16 ) — 286 (259 ) — 1,140 — (c) Long-term debt 11,877 (197 ) (c) — (12 ) 5,383 (4,145 ) (317 ) 12,589 (37 ) (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 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 867 100 85 (75 ) (30 ) (256 ) 691 147 Physical commodities 4 — — — (1 ) — 3 — Other 2,000 169 710 (178 ) (95 ) (265 ) 2,341 146 Total trading assets – debt and equity instruments 27,206 1,553 (c) 11,531 (8,480 ) (4,813 ) (1,230 ) 25,767 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 ) (72 ) (i) 858 (i) (1,580 ) (i) 51 (i) (400 ) (i) (2,206 ) 343 Commodity 115 (172 ) 1 — (13 ) (53 ) (122 ) (156 ) Total net derivative receivables 326 (799 ) (c)(i) 1,273 (i) (1,726 ) (i) (345 ) (i) (584 ) (i) (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 5,817 240 (c) 103 (1,488 ) (308 ) 266 4,630 109 (c) All other 1,382 (3 ) (f) 6 (130 ) (56 ) — 1,199 (3 ) (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 instruments held at June 30, 2014 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 — 27 (f) — — — — — 27 27 (f) 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) Note: Effective April 1, 2015, the Firm adopted new accounting guidance for certain investments where the Firm measures fair value using the net asset value per share (or its equivalent) as a practical expedient and excluded them from the fair value hierarchy. Accordingly, such investments are not included within these tables. The guidance was required to be applied retrospectively, and accordingly, prior period amounts have been revised to conform with the current period presentation. For further information, see page 92 . (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) was 15% at both June 30, 2015, and December 31, 2014. (c) Predominantly reported in principal transactions revenue, except for changes in fair value for Consumer & Community Banking 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 available-for-sale (“AFS”) securities, as well as other-than-temporary impairment losses that are recorded in earnings, are reported in securities gains. Unrealized gains/(losses) are reported in OCI. Realized gains/(losses) and foreign exchange remeasurement adjustments recorded in income on AFS securities were zero and $(11) million for the three months ended June 30, 2015 and 2014 and $(7) million and $(12) million for the six months ended June 30, 2015 and 2014, respectively. Unrealized gains/(losses) recorded on AFS securities in OCI were $2 million and $3 million for the three months ended June 30, 2015 and 2014 and $161 million and $(1) million for the six months ended June 30, 2015 and 2014 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, 2015 Dec 31, 2014 Derivative receivables balance (a) $ 67,451 $ 78,975 Derivative payables balance (a) 59,026 71,116 Derivatives CVA (b) (2,152 ) (2,674 ) Derivatives DVA and FVA (b)(c) (317 ) (380 ) Structured notes balance (a)(d) 56,788 53,772 Structured notes DVA and FVA (b)(e) 1,803 1,152 (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) At June 30, 2015, and December 31, 2014, included derivatives DVA of $771 million and $714 million , respectively. (d) 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, 2015 , and December 31, 2014, included $1.7 billion and $943 million , 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. (e) At June 30, 2015, and December 31, 2014, included structured notes DVA of $1.7 billion and $1.4 billion , respectively. |
Impact of credit adjustments on earnings | The following table provides the impact of credit and funding 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) 2015 2014 2015 2014 Credit adjustments: Derivatives CVA $ 341 $ 272 $ 522 $ 253 Derivatives DVA and FVA (a) 204 (36 ) 63 (161 ) Structured notes DVA and FVA (b) 503 162 651 179 (a) Included derivatives DVA of $44 million and $(1) million for the three months ended June 30, 2015 and 2014, respectively, and $57 million and $(95) million for the six months ended June 30, 2015 and 2014, respectively. (b) Included structured notes DVA of $215 million and $134 million for the three months ended June 30, 2015 and 2014, respectively, and $323 million and $19 million for the six months ended June 30, 2015 and 2014, 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, 2015 , and December 31, 2014 , 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 2014 Annual Report. June 30, 2015 December 31, 2014 Estimated fair value hierarchy Estimated fair value hierarchy (in billions) Carrying value Level 1 Level 2 Level 3 Total estimated fair value Carrying value Level 1 Level 2 Level 3 Total estimated fair value Financial assets Cash and due from banks $ 24.1 $ 24.1 $ — $ — $ 24.1 $ 27.8 $ 27.8 $ — $ — $ 27.8 Deposits with banks 398.8 395.2 3.6 — 398.8 484.5 480.4 4.1 — 484.5 Accrued interest and accounts receivable 69.6 — 69.4 0.2 69.6 70.1 — 70.0 0.1 70.1 Federal funds sold and securities purchased under resale agreements 184.2 — 184.2 — 184.2 187.2 — 187.2 — 187.2 Securities borrowed 98.0 — 98.0 — 98.0 109.4 — 109.4 — 109.4 Securities, held-to-maturity (a) 51.6 — 52.7 — 52.7 49.3 — 51.2 — 51.2 Loans, net of allowance for loan losses (b) 774.9 — 22.7 757.3 780.0 740.5 — 21.8 723.1 744.9 Other 65.2 — 56.6 13.1 69.7 64.7 — 55.7 13.3 69.0 Financial liabilities Deposits $ 1,275.8 $ — $ 1,274.7 $ 1.2 $ 1,275.9 $ 1,354.6 $ — $ 1,353.6 $ 1.2 $ 1,354.8 Federal funds purchased and securities loaned or sold under repurchase agreements 177.4 — 177.3 — 177.3 189.1 — 189.1 — 189.1 Commercial paper 42.2 — 42.2 — 42.2 66.3 — 66.3 — 66.3 Other borrowed funds 16.1 — 16.1 — 16.1 15.5 15.5 — 15.5 Accounts payable and other liabilities 163.5 — 160.9 2.4 163.3 176.7 — 173.7 2.9 176.6 Beneficial interests issued by consolidated VIEs 48.7 — 46.8 1.9 48.7 50.2 — 48.2 2.0 50.2 Long-term debt and junior subordinated deferrable interest debentures (c) 255.4 — 257.3 4.0 261.3 246.6 — 251.6 3.8 255.4 (a) Carrying value includes unamortized discount or premium. (b) Fair value is typically estimated using a discounted cash flow model that incorporates the characteristics of the underlying loans (including principal, contractual interest rate and contractual fees) and other key inputs, including expected lifetime credit losses, interest rates, prepayment rates, and primary origination or secondary market spreads. For certain loans, the fair value is measured based on the value of the underlying collateral. The difference between the estimated fair value and carrying value of a financial asset or liability is the result of the different methodologies used to determine fair value as compared with carrying value. For example, credit losses are estimated for a financial asset’s remaining life in a fair value calculation but are estimated for a loss emergence period in the allowance for loan loss calculation; future loan income (interest and fees) is incorporated in a fair value calculation but is generally not considered in the allowance for loan losses. For a further discussion of the Firm’s methodologies for estimating the fair value of loans and lending-related commitments, see Valuation hierarchy on pages 181–184 of JPMorgan Chase’s 2014 Annual Report. (c) Carrying value includes unamortized original issue discount and other valuation adjustments. |
The carrying value and estimated fair value of wholesale lending- related commitments | The majority of the Firm’s lending-related commitments are not carried at fair value on a recurring basis on the Consolidated Balance Sheets, nor are they actively traded. The carrying value and estimated fair value of the Firm’s wholesale lending-related commitments were as follows for the periods indicated. June 30, 2015 December 31, 2014 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 $ — $ — $ 1.6 $ 1.6 $ 0.6 $ — $ — $ 1.6 $ 1.6 (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. |
Fair Value Option (Tables)
Fair Value Option (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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, 2015 and 2014, 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, 2015 2014 (in millions) Principal transactions All other income Total changes in fair value recorded Principal transactions All other income Total changes in fair value recorded Federal funds sold and securities purchased under resale agreements $ (99 ) $ — $ (99 ) $ 96 $ — $ 96 Securities borrowed (2 ) — (2 ) (2 ) — (2 ) Trading assets: Debt and equity instruments, excluding loans 139 1 (c) 140 245 3 (c) 248 Loans reported as trading assets: Changes in instrument-specific credit risk 59 10 (c) 69 391 3 (c) 394 Other changes in fair value (15 ) 100 (c) 85 38 400 (c) 438 Loans: Changes in instrument-specific credit risk — — — 20 — 20 Other changes in fair value — — — 24 — 24 Other assets 2 3 (d) 5 7 (1 ) (d) 6 Deposits (a) 162 — 162 (107 ) — (107 ) Federal funds purchased and securities loaned or sold under repurchase agreements 18 — 18 (18 ) — (18 ) Other borrowed funds (a) 115 — 115 (911 ) — (911 ) Trading liabilities (12 ) — (12 ) (3 ) — (3 ) Beneficial interests issued by consolidated VIEs 26 — 26 (48 ) — (48 ) Other liabilities — — — (27 ) — (27 ) Long-term debt: Changes in instrument-specific credit risk (a) 209 — 209 82 — 82 Other changes in fair value (b) 728 — 728 (773 ) — (773 ) Six months ended June 30, 2015 2014 (in millions) Principal transactions All other income Total changes in fair value recorded Principal transactions All other income Total changes in fair value recorded Federal funds sold and securities purchased under resale agreements $ (26 ) $ — $ (26 ) $ 56 $ — $ 56 Securities borrowed (4 ) — (4 ) (5 ) — (5 ) Trading assets: Debt and equity instruments, excluding loans 519 1 (c) 520 475 1 (c) 476 Loans reported as trading assets: Changes in instrument-specific credit risk 211 13 (c) 224 754 12 (c) 766 Other changes in fair value 112 380 (c) 492 102 692 (c) 794 Loans: Changes in instrument-specific credit risk 1 — 1 28 — 28 Other changes in fair value — — — 31 — 31 Other assets 62 9 (d) 71 12 (74 ) (d) (62 ) Deposits (a) 37 — 37 (211 ) — (211 ) Federal funds purchased and securities loaned or sold under repurchase agreements 9 — 9 (34 ) — (34 ) Other borrowed funds (a) 106 — 106 (1,171 ) — (1,171 ) Trading liabilities (14 ) — (14 ) (9 ) — (9 ) Beneficial interests issued by consolidated VIEs 44 — 44 (137 ) — (137 ) Other liabilities — — — (27 ) — (27 ) Long-term debt: Changes in instrument-specific credit risk (a) 325 — 325 5 — 5 Other changes in fair value (b) 350 — 350 (791 ) — (791 ) (a) Total changes in instrument-specific credit risk (DVA) related to structured notes were $215 million and $134 million for the three months ended June 30, 2015 and 2014, respectively, and $323 million and $19 million for the six months ended June 30, 2015 and 2014, respectively. These totals include such changes for structured notes classified within deposits and other borrowed funds, as well as long-term debt. (b) Structured notes are predominantly financial instruments containing embedded derivatives. Where present, the embedded derivative is the primary driver of risk. Although the risk associated with the structured notes is actively managed, the gains/(losses) reported in this table do not include the income statement impact of the risk management instruments used to manage such risk. (c) Reported in mortgage fees and related income. (d) Reported in other income. |
Difference between aggregate fair value and aggregate remaining contractual principal balance outstanding | The following table reflects the difference between the aggregate fair value and the aggregate remaining contractual principal balance outstanding as of June 30, 2015 , and December 31, 2014 , for loans, long-term debt and long-term beneficial interests for which the fair value option has been elected. June 30, 2015 December 31, 2014 (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 $ 4,096 $ 1,097 $ (2,999 ) $ 3,847 $ 905 $ (2,942 ) Loans 7 7 — 7 7 — Subtotal 4,103 1,104 (2,999 ) 3,854 912 (2,942 ) All other performing loans Loans reported as trading assets 34,729 32,885 (1,844 ) 37,608 35,462 (2,146 ) Loans 2,267 2,262 (5 ) 2,397 2,389 (8 ) Total loans $ 41,099 $ 36,251 $ (4,848 ) $ 43,859 $ 38,763 $ (5,096 ) Long-term debt Principal-protected debt $ 14,747 (c) $ 14,690 $ (57 ) $ 14,660 (c) $ 15,484 $ 824 Nonprincipal-protected debt (b) NA 16,626 NA NA 14,742 NA Total long-term debt NA $ 31,316 NA NA $ 30,226 NA Long-term beneficial interests Nonprincipal-protected debt (b) NA $ 1,330 NA NA $ 2,162 NA Total long-term beneficial interests NA $ 1,330 NA NA $ 2,162 NA (a) There were no performing loans that were ninety days or more past due as of June 30, 2015 , and December 31, 2014 , respectively. (b) Remaining contractual principal is not applicable to nonprincipal-protected notes. Unlike principal-protected structured notes, for which the Firm is obligated to return a stated amount of principal at the maturity of the note, nonprincipal-protected structured notes do not obligate the Firm to return a stated amount of principal at maturity, but to return an amount based on the performance of an underlying variable or derivative feature embedded in the note. 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, 2015 December 31, 2014 (in millions) Long-term debt Other borrowed funds Deposits Total Long-term debt Other borrowed funds Deposits Total Risk exposure Interest rate $ 10,580 $ 99 $ 3,960 $ 14,639 $ 10,858 $ 460 $ 2,119 $ 13,437 Credit 4,353 418 — 4,771 4,023 450 — 4,473 Foreign exchange 1,454 196 12 1,662 2,150 211 17 2,378 Equity 13,416 12,300 4,745 30,461 12,348 12,412 4,415 29,175 Commodity 828 229 2,503 3,560 710 644 2,012 3,366 Total structured notes $ 30,631 $ 13,242 $ 11,220 $ 55,093 $ 30,089 $ 14,177 $ 8,563 $ 52,829 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of uses and disclosure of derivatives | The following table outlines the Firm’s primary uses of derivatives and the related hedge accounting designation or disclosure category. Type of Derivative Use of Derivative Designation and disclosure Affected segment or unit 10-Q page reference Manage specifically identified risk exposures in qualifying hedge accounting relationships: ◦ Interest rate Hedge fixed rate assets and liabilities Fair value hedge Corporate 111 –112 ◦ Interest rate Hedge floating-rate assets and liabilities Cash flow hedge Corporate 112 –113 ◦ Foreign exchange Hedge foreign currency-denominated assets and liabilities Fair value hedge Corporate 111 –112 ◦ Foreign exchange Hedge forecasted revenue and expense Cash flow hedge Corporate 112 –113 ◦ Foreign exchange Hedge the value of the Firm’s investments in non-U.S. subsidiaries Net investment hedge Corporate 114 ◦ Commodity Hedge commodity inventory Fair value hedge CIB 111 –112 Manage specifically identified risk exposures not designated in qualifying hedge accounting relationships: ◦ Interest rate Manage the risk of the mortgage pipeline, warehouse loans and MSRs Specified risk management CCB 114 ◦ Credit Manage the credit risk of wholesale lending exposures Specified risk management CIB 114 ◦ Commodity Manage the risk of certain commodities-related contracts and investments Specified risk management CIB 114 ◦ Interest rate and foreign exchange Manage the risk of certain other specified assets and liabilities Specified risk management Corporate 114 Market-making derivatives and other activities: ◦ Various Market-making and related risk management Market-making and other CIB 114 ◦ Various Other derivatives Market-making and other CIB, Corporate 114 |
Notional amount of derivative contracts | The following table summarizes the notional amount of derivative contracts outstanding as of June 30, 2015 , and December 31, 2014 . Notional amounts (b) (in billions) June 30, 2015 December 31, 2014 Interest rate contracts Swaps $ 23,790 $ 29,734 Futures and forwards 7,108 10,189 Written options 3,735 3,903 Purchased options 4,120 4,259 Total interest rate contracts 38,753 48,085 Credit derivatives (a) 3,681 4,249 Foreign exchange contracts Cross-currency swaps 3,262 3,346 Spot, futures and forwards 4,810 4,669 Written options 750 790 Purchased options 758 780 Total foreign exchange contracts 9,580 9,585 Equity contracts Swaps 237 206 Futures and forwards 59 50 Written options 414 432 Purchased options 357 375 Total equity contracts 1,067 1,063 Commodity contracts Swaps 114 126 Spot, futures and forwards 162 193 Written options 175 181 Purchased options 176 180 Total commodity contracts 627 680 Total derivative notional amounts $ 53,708 $ 63,662 (a) For more information on volumes and types of credit derivative contracts, see the Credit derivatives discussion on pages 115–116 of this Note. (b) Represents the sum of gross long and gross short third-party notional derivative contracts. |
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, 2015 , and December 31, 2014 , 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 June 30, 2015 Not designated as hedges Designated as hedges Total derivative receivables Net derivative receivables (b) Not designated as hedges Designated as hedges Total derivative payables Net derivative payables (b) Trading assets and liabilities Interest rate $ 652,504 $ 4,159 $ 656,663 $ 31,323 $ 619,496 $ 2,361 $ 621,857 $ 13,880 Credit 54,577 — 54,577 1,321 53,830 — 53,830 1,262 Foreign exchange 174,062 788 174,850 18,340 188,047 1,606 189,653 18,456 Equity 42,390 — 42,390 6,058 47,978 — 47,978 11,539 Commodity 29,065 867 29,932 10,409 32,667 12 32,679 13,889 Total fair value of trading assets and liabilities $ 952,598 $ 5,814 $ 958,412 $ 67,451 $ 942,018 $ 3,979 $ 945,997 $ 59,026 Gross derivative receivables Gross derivative payables December 31, 2014 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) Trading assets and liabilities Interest rate $ 944,885 $ 5,372 $ 950,257 $ 33,725 $ 915,368 $ 3,011 $ 918,379 $ 17,745 Credit 76,842 — 76,842 1,838 75,895 — 75,895 1,593 Foreign exchange 211,537 3,650 215,187 21,253 223,988 626 224,614 22,970 Equity 42,489 — 42,489 8,177 46,262 — 46,262 11,740 Commodity 43,151 502 43,653 13,982 45,455 168 45,623 17,068 Total fair value of trading assets and liabilities $ 1,318,904 $ 9,524 $ 1,328,428 $ 78,975 $ 1,306,968 $ 3,805 $ 1,310,773 $ 71,116 (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, 2015 , and December 31, 2014 , 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. June 30, 2015 December 31, 2014 (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: OTC $ 431,691 $ (406,111 ) $ 25,580 $ 542,107 $ (514,914 ) $ 27,193 OTC–cleared 219,247 (219,229 ) 18 401,656 (401,618 ) 38 Exchange-traded (a) — — — — — — Total interest rate contracts 650,938 (625,340 ) 25,598 943,763 (916,532 ) 27,231 Credit contracts: OTC 45,040 (44,287 ) 753 66,636 (65,720 ) 916 OTC–cleared 9,000 (8,969 ) 31 9,320 (9,284 ) 36 Total credit contracts 54,040 (53,256 ) 784 75,956 (75,004 ) 952 Foreign exchange contracts: OTC 170,584 (156,406 ) 14,178 208,803 (193,900 ) 14,903 OTC–cleared 107 (104 ) 3 36 (34 ) 2 Exchange-traded (a) — — — — — — Total foreign exchange contracts 170,691 (156,510 ) 14,181 208,839 (193,934 ) 14,905 Equity contracts: OTC 24,520 (23,514 ) 1,006 23,258 (22,826 ) 432 OTC–cleared — — — — — — Exchange-traded (a) 14,918 (12,818 ) 2,100 13,840 (11,486 ) 2,354 Total equity contracts 39,438 (36,332 ) 3,106 37,098 (34,312 ) 2,786 Commodity contracts: OTC 15,963 (7,265 ) 8,698 22,555 (14,327 ) 8,228 OTC–cleared — — — — — — Exchange-traded (a) 13,137 (12,258 ) 879 19,500 (15,344 ) 4,156 Total commodity contracts 29,100 (19,523 ) 9,577 42,055 (29,671 ) 12,384 Derivative receivables with appropriate legal opinion $ 944,207 $ (890,961 ) (b) $ 53,246 $ 1,307,711 $ (1,249,453 ) (b) $ 58,258 Derivative receivables where an appropriate legal opinion has not been either sought or obtained 14,205 14,205 20,717 20,717 Total derivative receivables recognized on the Consolidated balance sheets $ 958,412 $ 67,451 $ 1,328,428 $ 78,975 (a) Exchange-traded derivative amounts that relate to futures contracts are settled daily. (b) Included cash collateral netted of $67.2 billion and $74.0 billion at June 30, 2015 , and December 31, 2014 , respectively. |
Offsetting liabilities | The following table presents, as of June 30, 2015 , and December 31, 2014 , 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. June 30, 2015 December 31, 2014 (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 $ 410,875 $ (398,412 ) $ 12,463 $ 515,904 $ (503,384 ) $ 12,520 OTC–cleared 209,740 (209,565 ) 175 398,518 (397,250 ) 1,268 Exchange-traded (a) — — — — — — Total interest rate contracts 620,615 (607,977 ) 12,638 914,422 (900,634 ) 13,788 Credit contracts: OTC 44,305 (43,547 ) 758 65,432 (64,904 ) 528 OTC–cleared 9,024 (9,021 ) 3 9,398 (9,398 ) — Total credit contracts 53,329 (52,568 ) 761 74,830 (74,302 ) 528 Foreign exchange contracts: OTC 184,282 (171,105 ) 13,177 217,998 (201,578 ) 16,420 OTC–cleared 92 (92 ) — 66 (66 ) — Exchange-traded (a) — — — — — — Total foreign exchange contracts 184,374 (171,197 ) 13,177 218,064 (201,644 ) 16,420 Equity contracts: OTC 29,022 (23,621 ) 5,401 27,908 (23,036 ) 4,872 OTC–cleared — — — — — — Exchange-traded (a) 14,292 (12,818 ) 1,474 12,864 (11,486 ) 1,378 Total equity contracts 43,314 (36,439 ) 6,875 40,772 (34,522 ) 6,250 Commodity contracts: OTC 18,424 (6,532 ) 11,892 25,129 (13,211 ) 11,918 OTC–cleared — — — — — — Exchange-traded (a) 12,512 (12,258 ) 254 18,486 (15,344 ) 3,142 Total commodity contracts 30,936 (18,790 ) 12,146 43,615 (28,555 ) 15,060 Derivative payables with appropriate legal opinions $ 932,568 $ (886,971 ) (b) $ 45,597 $ 1,291,703 $ (1,239,657 ) (b) $ 52,046 Derivative payables where an appropriate legal opinion has not been either sought or obtained 13,429 13,429 19,070 19,070 Total derivative payables recognized on the Consolidated balance sheets $ 945,997 $ 59,026 $ 1,310,773 $ 71,116 (a) Exchange-traded derivative balances that relate to futures contracts are settled daily. (b) Included cash collateral netted of $63.2 billion and $64.2 billion related to OTC and OTC-cleared derivatives at June 30, 2015 , and December 31, 2014 , respectively. |
Current credit risk of derivative receivables and liquidity risk of derivative payables | 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, 2015 , and December 31, 2014 . OTC and OTC-cleared derivative payables containing downgrade triggers (in millions) June 30, 2015 December 31, 2014 Aggregate fair value of net derivative payables $ 29,340 $ 32,303 Collateral posted 24,006 27,585 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, 2015 and December 31, 2014 , 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 in termination payments 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 June 30, 2015 December 31, 2014 (in millions) Single-notch downgrade Two-notch downgrade Single-notch downgrade Two-notch downgrade Amount of additional collateral to be posted upon downgrade (a) $ 891 $ 3,422 $ 1,046 $ 3,331 Amount required to settle contracts with termination triggers upon downgrade (b) 264 1,005 366 1,388 (a) Includes the additional collateral to be posted for initial margin. (b) Amounts represent fair values 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, 2015 , and December 31, 2014 , 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 June 30, 2015 December 31, 2014 (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 $ 53,246 $ (13,214 ) (a) $ 40,032 $ 58,258 $ (16,194 ) (a) $ 42,064 Derivative payable collateral (b) June 30, 2015 December 31, 2014 (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 $ 45,597 $ (9,093 ) (a) $ 36,504 $ 52,046 $ (10,505 ) (a) $ 41,541 (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, 2015 and 2014 , respectively. Gains/(losses) recorded in income Income statement impact due to: Three months ended June 30, 2015 (in millions) Derivatives Hedged items Total income statement impact Hedge ineffectiveness (d) Excluded components (e) Contract type Interest rate (a) $ (1,541 ) $ 1,709 $ 168 $ (19 ) $ 187 Foreign exchange (b) (2,118 ) 2,097 (21 ) — (21 ) Commodity (c) 242 (295 ) (53 ) (5 ) (48 ) Total $ (3,417 ) $ 3,511 $ 94 $ (24 ) $ 118 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 (d) Excluded components (e) 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: Six months ended June 30, 2015 (in millions) Derivatives Hedged items Total income statement impact Hedge ineffectiveness (d) Excluded components (e) Contract type Interest rate (a) $ (935 ) $ 1,461 $ 526 $ (2 ) $ 528 Foreign exchange (b) 4,357 (4,362 ) (5 ) — (5 ) Commodity (c) 564 (603 ) (39 ) (11 ) (28 ) Total $ 3,986 $ (3,504 ) $ 482 $ (13 ) $ 495 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 (d) Excluded components (e) 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 (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. (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) 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. (e) 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, 2015 and 2014 , respectively. Gains/(losses) recorded in income and other comprehensive income/(loss) Three months ended June 30, 2015 (in millions) Derivatives – effective portion reclassified from AOCI to income Hedge ineffectiveness recorded directly in income (c) Total income statement impact Derivatives – effective portion recorded in OCI Total change in OCI for period Contract type Interest rate (a) $ 22 $ — $ 22 $ (23 ) $ (45 ) Foreign exchange (b) (29 ) — (29 ) 143 172 Total $ (7 ) $ — $ (7 ) $ 120 $ 127 Gains/(losses) recorded in income and other comprehensive income/(loss) Three months ended June 30, 2014 (in millions) Derivatives – effective portion reclassified from AOCI to income Hedge ineffectiveness recorded directly in income (c) Total income statement impact Derivatives – effective portion recorded in OCI Total change 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) Six months ended June 30, 2015 (in millions) Derivatives – effective portion reclassified from AOCI to income Hedge ineffectiveness recorded directly in income (c) Total income statement impact Derivatives – effective portion recorded in OCI Total change in OCI for period Contract type Interest rate (a) $ (127 ) $ — $ (127 ) $ (20 ) $ 107 Foreign exchange (b) (55 ) — (55 ) 91 146 Total $ (182 ) $ — $ (182 ) $ 71 $ 253 Gains/(losses) recorded in income and other comprehensive income/(loss) Six months ended June 30, 2014 (in millions) Derivatives – effective portion reclassified from AOCI to income Hedge ineffectiveness recorded directly in income (c) Total income statement impact Derivatives – effective portion recorded in OCI Total change Contract type Interest rate (a) $ (36 ) $ — $ (36 ) $ 134 $ 170 Foreign exchange (b) 38 — 38 81 43 Total $ 2 $ — $ 2 $ 215 $ 213 (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, and for forecasted transactions that the Firm determined during the six months ended June 30, 2015, were probable of not occurring, in other 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) Hedge ineffectiveness is the amount by which the cumulative gain or loss on the designated derivative instrument exceeds the present value of the cumulative expected change in cash flows on the hedged item attributable to the hedged risk. |
Net investment hedge gains and losses | The following 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, 2015 and 2014 . Gains/(losses) recorded in income and other comprehensive income/(loss) 2015 2014 Three months ended June 30, (in millions) Excluded components recorded directly in income (a) Effective portion recorded in OCI Excluded components recorded directly in income (a) Effective portion recorded in OCI Foreign exchange derivatives $ (91 ) $ (250 ) $ (122 ) $ (208 ) Gains/(losses) recorded in income and 2015 2014 Six months ended June 30, (in millions) Excluded components recorded directly in income (a) Effective portion recorded in OCI Excluded components recorded directly in income (a) Effective portion recorded in OCI Foreign exchange derivatives $ (189 ) $ 743 $ (227 ) $ (362 ) (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 other 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 significant ineffectiveness for net investment hedge accounting relationships during the three and six months ended June 30, 2015 and 2014 . |
Risk management derivatives gains and losses (not designated as hedging instruments) | The following table presents pretax gains/(losses) recorded on a limited number of derivatives, not designated in hedge accounting relationships, that are used to manage risks associated with certain specified assets and liabilities, including certain risks arising from the mortgage pipeline, warehouse loans, MSRs, wholesale lending exposures, AFS securities, foreign currency-denominated liabilities, and commodities-related contracts and investments. Derivatives gains/(losses) recorded in income Three months ended Six months ended (in millions) 2015 2014 2015 2014 Contract type Interest rate (a) $ (563 ) $ 589 $ 120 $ 1,107 Credit (b) (10 ) (24 ) (24 ) (41 ) Foreign exchange (c) 7 (3 ) (5 ) (3 ) Commodity (d) 23 (21 ) (13 ) 162 Total $ (543 ) $ 541 $ 78 $ 1,225 (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 assets and 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 table | Total credit derivatives and credit-related notes Maximum payout/Notional amount June 30, 2015 (in millions) Protection sold Protection purchased with identical underlyings (b) Net protection (sold)/purchased (c) Other protection purchased (d) Credit derivatives Credit default swaps $ (1,768,492 ) $ 1,789,168 $ 20,676 $ 15,001 Other credit derivatives (a) (47,465 ) 42,505 (4,960 ) 18,151 Total credit derivatives (1,815,957 ) 1,831,673 15,716 33,152 Credit-related notes (30 ) — (30 ) 4,408 Total $ (1,815,987 ) $ 1,831,673 $ 15,686 $ 37,560 Maximum payout/Notional amount December 31, 2014 (in millions) Protection sold Protection purchased with identical underlyings (b) Net protection (sold)/purchased (c) Other protection purchased (d) Credit derivatives Credit default swaps $ (2,056,982 ) $ 2,078,096 $ 21,114 $ 18,631 Other credit derivatives (a) (43,281 ) 32,048 (11,233 ) 19,475 Total credit derivatives (2,100,263 ) 2,110,144 9,881 38,106 Credit-related notes (40 ) — (40 ) 3,704 Total $ (2,100,303 ) $ 2,110,144 $ 9,841 $ 41,810 (a) Other credit derivatives predominantly consists of credit swap options. (b) Represents the total notional amount of protection purchased where the underlying reference instrument is identical to the reference instrument on protection sold; the notional amount of protection purchased for each individual identical underlying reference instrument may be greater or lower than the notional amount of protection sold. (c) Does not take into account the fair value of the reference obligation at the time of settlement, which would generally reduce the amount the seller of protection pays to the buyer of protection in determining settlement value. (d) Represents protection purchased by the Firm on referenced instruments (single-name, portfolio or index) where the Firm has not sold any protection on the identical reference instrument. |
Protection sold - credit derivatives and credit-related notes ratings/maturity profile | The following tables summarize the notional amounts by the ratings and maturity profile, and the total fair value, of credit derivatives and credit-related notes as of June 30, 2015 , and December 31, 2014, 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, 2015 (in millions) <1 year 1–5 years >5 years Total notional amount Fair value of receivables (b) Fair value of payables (b) Net fair value Risk rating of reference entity Investment-grade $ (291,246 ) $ (958,426 ) $ (65,049 ) $ (1,314,721 ) $ 18,552 $ (3,734 ) $ 14,818 Noninvestment-grade (126,428 ) (345,805 ) (29,033 ) (501,266 ) 17,189 (13,739 ) 3,450 Total $ (417,674 ) $ (1,304,231 ) $ (94,082 ) $ (1,815,987 ) $ 35,741 $ (17,473 ) $ 18,268 December 31, 2014 (in millions) <1 year 1–5 years >5 years Total notional amount Fair value of receivables (b) Fair value of payables (b) Net fair value Risk rating of reference entity Investment-grade $ (323,398 ) $ (1,118,293 ) $ (79,486 ) $ (1,521,177 ) $ 25,767 $ (6,314 ) $ 19,453 Noninvestment-grade (157,281 ) (396,798 ) (25,047 ) (579,126 ) 20,677 (22,455 ) (1,778 ) Total $ (480,679 ) $ (1,515,091 ) $ (104,533 ) $ (2,100,303 ) $ 46,444 $ (28,769 ) $ 17,675 (a) The ratings scale is primarily based on external credit ratings defined by S&P and Moody’s. (b) Amounts are shown on a gross basis, before the benefit of legally enforceable master netting agreements and cash collateral received by the Firm. |
Noninterest Revenue (Tables)
Noninterest Revenue (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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 (in millions) 2015 2014 2015 2014 Underwriting Equity $ 452 $ 477 $ 851 $ 830 Debt 913 876 1,766 1,559 Total underwriting 1,365 1,353 2,617 2,389 Advisory 468 398 1,010 782 Total investment banking fees $ 1,833 $ 1,751 $ 3,627 $ 3,171 |
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 (in millions) 2015 2014 2015 2014 Trading revenue by instrument type Interest rate $ 420 $ 626 $ 1,306 $ 981 Credit 624 603 1,039 1,129 Foreign exchange 563 342 1,407 868 Equity 908 759 1,956 1,564 Commodity (a) 250 347 589 1,035 Total trading revenue 2,765 2,677 6,297 5,577 Private equity gains (b) 69 231 192 653 Principal transactions $ 2,834 $ 2,908 $ 6,489 $ 6,230 (a) 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. (b) Includes revenue on private equity investments held in the Private Equity business within Corporate, 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 (in millions) 2015 2014 2015 2014 Asset management fees Investment management fees (a) $ 2,416 $ 2,260 $ 4,690 $ 4,356 All other asset management fees (b) 99 131 198 254 Total asset management fees 2,515 2,391 4,888 4,610 Total administration fees (c) 527 564 1,034 1,091 Commission and other fees Brokerage commissions 592 567 1,186 1,199 All other commissions and fees 381 485 714 943 Total commissions and fees 973 1,052 1,900 2,142 Total asset management, administration and commissions $ 4,015 $ 4,007 $ 7,822 $ 7,843 (a) Represents fees earned from managing assets on behalf of the Firm’s 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. |
Schedule of amounts included in other income | Other income on the Firm’s Consolidated statements of income included the following: Three months ended Six months ended (in millions) 2015 2014 2015 2014 Operating lease income $ 504 $ 422 $ 973 $ 820 |
Interest income and interest 42
Interest income and interest expense (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Interest Income (Expense), Net [Abstract] | |
Details of interest income and interest expense | Details of interest income and interest expense were as follows. Three months ended Six months ended (in millions) 2015 2014 2015 2014 Interest income Loans $ 8,079 $ 8,039 $ 16,026 $ 16,078 Taxable securities 1,608 1,940 3,332 3,840 Nontaxable securities (a) 423 337 821 654 Total securities 2,031 2,277 4,153 4,494 Trading assets 1,736 1,827 3,470 3,598 Federal funds sold and securities purchased under resale agreements 340 398 736 834 Securities borrowed (b) (159 ) (131 ) (279 ) (219 ) Deposits with banks 312 279 653 535 Other assets (c) 175 172 320 334 Total interest income 12,514 12,861 25,079 25,654 Interest expense Interest-bearing deposits 308 417 672 843 Short-term and other liabilities (d) 344 455 676 883 Long-term debt 1,068 1,086 2,162 2,253 Beneficial interests issued by consolidated VIEs 110 105 208 210 Total interest expense 1,830 2,063 3,718 4,189 Net interest income 10,684 10,798 21,361 21,465 Provision for credit losses 935 692 1,894 1,542 Net interest income after provision for credit losses $ 9,749 $ 10,106 $ 19,467 $ 19,923 (a) Represents securities which are tax-exempt for U.S. federal income tax purposes. (b) Negative interest income for the three and six months ended June 30, 2015 and 2014, is a result of increased client-driven demand for certain securities combined with the impact of low interest rates. This is matched book activity and the negative interest expense on the corresponding securities loaned is recognized in interest expense and reported within short-term and other liabilities. (c) Largely margin loans. (d) Includes brokerage customer payables. |
Pension and other postretirem43
Pension and other postretirement employee benefit plans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Components of net periodic benefit costs reported in the Consolidated Statements of 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 ended June 30, (in millions) 2015 2014 2015 2014 2015 2014 Components of net periodic benefit cost Benefits earned during the period $ 85 $ 70 $ 10 $ 8 $ — $ — Interest cost on benefit obligations 125 134 28 36 8 9 Expected return on plan assets (233 ) (246 ) (37 ) (45 ) (27 ) (25 ) Amortization: Net (gain)/loss 61 7 9 12 — — Prior service cost/(credit) (8 ) (12 ) (1 ) — — — Net periodic defined benefit cost 30 (47 ) 9 11 (19 ) (16 ) Other defined benefit pension plans (a) 4 4 — 1 NA NA Total defined benefit plans 34 (43 ) 9 12 (19 ) (16 ) Total defined contribution plans 115 110 86 87 NA NA Total pension and OPEB cost included in compensation expense $ 149 $ 67 $ 95 $ 99 $ (19 ) $ (16 ) Pension plans U.S. Non-U.S. OPEB plans Six months ended June 30, (in millions) 2015 2014 2015 2014 2015 2014 Components of net periodic benefit cost Benefits earned during the period $ 170 $ 140 $ 19 $ 17 $ — $ — Interest cost on benefit obligations 250 268 56 70 16 18 Expected return on plan assets (465 ) (492 ) (75 ) (89 ) (53 ) (50 ) Amortization: Net (gain)/loss 123 13 18 24 — — Prior service cost/(credit) (17 ) (22 ) (1 ) — — — Net periodic defined benefit cost 61 (93 ) 17 22 (37 ) (32 ) Other defined benefit pension plans (a) 7 7 5 3 NA NA Total defined benefit plans 68 (86 ) 22 25 (37 ) (32 ) Total defined contribution plans 204 218 169 167 NA NA Total pension and OPEB cost included in compensation expense $ 272 $ 132 $ 191 $ 192 $ (37 ) $ (32 ) (a) Includes various defined benefit pension plans which are individually immaterial. |
Employee stock-based incentiv44
Employee stock-based incentives (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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 (in millions) 2015 2014 2015 2014 Cost of prior grants of restricted stock units (“RSUs”) and stock appreciation rights (“SARs”) that are amortized over their applicable vesting periods $ 295 $ 335 $ 587 $ 745 Accrual of estimated costs of stock awards to be granted in future periods including those to full-career eligible employees 215 189 488 397 Total noncash compensation expense related to employee stock-based incentive plans $ 510 $ 524 $ 1,075 $ 1,142 |
Noninterest Expense (Tables)
Noninterest Expense (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Noninterest Expense [Abstract] | |
Components of noninterest expense | Within noninterest expense on the Firm’s Consolidated statements of income, other expense included the following: Three months ended June 30, Six months ended June 30, (in millions) 2015 2014 2015 2014 Firmwide legal expense $ 291 $ 669 $ 978 $ 707 Federal Deposit Insurance Corporation-related (“FDIC”) expense $ 300 $ 266 $ 618 $ 559 |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
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. June 30, 2015 December 31, 2014 (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) $ 55,634 $ 1,887 $ 206 $ 57,315 $ 63,089 $ 2,302 $ 72 $ 65,319 Residential: Prime and Alt-A 6,499 55 21 6,533 5,595 78 29 5,644 Subprime 494 11 — 505 677 14 — 691 Non-U.S. 31,777 763 5 32,535 43,550 1,010 — 44,560 Commercial 21,954 308 55 22,207 20,687 438 17 21,108 Total mortgage-backed securities 116,358 3,024 287 119,095 133,598 3,842 118 137,322 U.S. Treasury and government agencies (a) 11,600 16 26 11,590 13,603 56 14 13,645 Obligations of U.S. states and municipalities 29,986 1,609 171 31,424 27,841 2,243 16 30,068 Certificates of deposit 427 2 — 429 1,103 1 1 1,103 Non-U.S. government debt securities 41,837 999 44 42,792 51,492 1,272 21 52,743 Corporate debt securities 15,540 310 28 15,822 18,158 398 24 18,532 Asset-backed securities: Collateralized loan obligations 31,337 108 73 31,372 30,229 147 182 30,194 Other 10,831 136 11 10,956 12,442 184 11 12,615 Total available-for-sale debt securities 257,916 6,204 640 263,480 288,466 8,143 387 296,222 Available-for-sale equity securities 2,704 17 — 2,721 2,513 17 — 2,530 Total available-for-sale securities $ 260,620 $ 6,221 $ 640 $ 266,201 $ 290,979 $ 8,160 $ 387 $ 298,752 Total held-to-maturity securities (b) $ 51,594 $ 1,241 $ 138 $ 52,697 $ 49,252 $ 1,902 $ — $ 51,154 (a) Included total U.S. government-sponsored enterprise obligations with fair values of $45.5 billion and $59.3 billion at June 30, 2015, and December 31, 2014 , respectively. (b) As of June 30, 2015, consists of MBS issued by U. S. government-sponsored enterprises with an amortized cost of $33.3 billion , MBS issued by U.S. government agencies with an amortized cost of $5.9 billion and obligations of U.S. states and municipalities with an amortized cost of $12.4 billion . As of December 31, 2014, consists of MBS issued by U.S. government-sponsored enterprises with an amortized cost of $35.3 billion , MBS issued by U.S. government agencies with an amortized cost of $3.7 billion and obligations of U.S. states and municipalities with an amortized cost of $10.2 billion . |
Securities impairment | The following tables present the fair value and gross unrealized losses for investment securities by aging category at June 30, 2015, and December 31, 2014. Securities with gross unrealized losses Less than 12 months 12 months or more June 30, 2015 (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 $ 6,755 $ 186 $ 913 $ 20 $ 7,668 $ 206 Residential: Prime and Alt-A 2,801 16 315 5 3,116 21 Subprime — — — — — — Non-U.S. 1,287 5 — — 1,287 5 Commercial 8,607 55 — — 8,607 55 Total mortgage-backed securities 19,450 262 1,228 25 20,678 287 U.S. Treasury and government agencies 8,778 26 — — 8,778 26 Obligations of U.S. states and municipalities 7,284 162 181 9 7,465 171 Certificates of deposit — — — — — — Non-U.S. government debt securities 3,527 35 240 9 3,767 44 Corporate debt securities 1,963 23 549 5 2,512 28 Asset-backed securities: Collateralized loan obligations 8,933 13 8,132 60 17,065 73 Other 2,401 10 80 1 2,481 11 Total available-for-sale debt securities 52,336 531 10,410 109 62,746 640 Available-for-sale equity securities — — — — — — Held-to-maturity securities 7,447 138 — — 7,447 138 Total securities with gross unrealized losses $ 59,783 $ 669 $ 10,410 $ 109 $ 70,193 $ 778 Securities with gross unrealized losses Less than 12 months 12 months or more December 31, 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 $ 1,118 $ 5 $ 4,989 $ 67 $ 6,107 $ 72 Residential: Prime and Alt-A 1,840 10 405 19 2,245 29 Subprime — — — — — — Non-U.S. — — — — — — Commercial 4,803 15 92 2 4,895 17 Total mortgage-backed securities 7,761 30 5,486 88 13,247 118 U.S. Treasury and government agencies 8,412 14 — — 8,412 14 Obligations of U.S. states and municipalities 1,405 15 130 1 1,535 16 Certificates of deposit 1,050 1 — — 1,050 1 Non-U.S. government debt securities 4,433 4 906 17 5,339 21 Corporate debt securities 2,492 22 80 2 2,572 24 Asset-backed securities: Collateralized loan obligations 13,909 76 9,012 106 22,921 182 Other 2,258 11 — — 2,258 11 Total available-for-sale debt securities 41,720 173 15,614 214 57,334 387 Available-for-sale equity securities — — — — — — Held-to-maturity securities — — — — — — Total securities with gross unrealized losses $ 41,720 $ 173 $ 15,614 $ 214 $ 57,334 $ 387 |
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 ended June 30, Six months ended June 30, (in millions) 2015 2014 2015 2014 Realized gains $ 94 $ 76 $ 185 $ 224 Realized losses (49 ) (64 ) (87 ) (180 ) OTTI losses (1 ) — (2 ) (2 ) Net securities gains $ 44 $ 12 96 42 OTTI losses Credit-related losses recognized in income — — (1 ) — Securities the Firm intends to sell (1 ) — (1 ) (2 ) Total OTTI losses recognized in income $ (1 ) $ — (2 ) (2 ) |
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, 2015 and 2014, 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) 2015 2014 2015 2014 Balance, beginning of period $ 4 $ 1 $ 3 $ 1 Additions: Newly credit-impaired securities — — 1 — Balance, end of period $ 4 $ 1 $ 4 $ 1 |
Amortized cost and estimated fair value by contractual maturity | The following table presents the amortized cost and estimated fair value at June 30, 2015, of JPMorgan Chase ’s investment securities portfolio by contractual maturity. By remaining maturity June 30, 2015 (in millions) Due in one year or less Due after one year through five years Due after five years through 10 years Due after 10 years (c) Total Available-for-sale debt securities Mortgage-backed securities (a) Amortized cost $ 2,132 $ 11,625 $ 5,621 $ 96,980 $ 116,358 Fair value 2,144 11,864 5,821 99,266 119,095 Average yield (b) 1.47 % 1.76 % 3.21 % 3.06 % 2.91 % U.S. Treasury and government agencies Amortized cost $ 600 $ — $ 9,937 $ 1,063 $ 11,600 Fair value 602 — 9,914 1,074 11,590 Average yield (b) 1.53 % — % 0.19 % 0.41 % 0.28 % Obligations of U.S. states and municipalities Amortized cost $ 159 $ 743 $ 1,297 $ 27,787 $ 29,986 Fair value 164 761 1,360 29,139 31,424 Average yield (b) 6.33 % 3.21 % 5.62 % 6.68 % 6.54 % Certificates of deposit Amortized cost $ 375 $ 52 $ — $ — $ 427 Fair value 376 53 — — 429 Average yield (b) 5.64 % 3.28 % — % — % 5.36 % Non-U.S. government debt securities Amortized cost $ 8,631 $ 13,015 $ 17,777 $ 2,414 $ 41,837 Fair value 8,651 13,305 18,297 2,539 42,792 Average yield (b) 3.28 % 1.87 % 0.99 % 0.87 % 1.73 % Corporate debt securities Amortized cost $ 3,417 $ 8,386 $ 3,594 $ 143 $ 15,540 Fair value 3,443 8,560 3,678 141 15,822 Average yield (b) 2.29 % 2.24 % 2.63 % 4.46 % 2.36 % Asset-backed securities Amortized cost $ 513 $ 609 $ 20,737 $ 20,309 $ 42,168 Fair value 515 614 20,798 20,401 42,328 Average yield (b) 0.99 % 1.55 % 1.75 % 1.77 % 1.75 % Total available-for-sale debt securities Amortized cost $ 15,827 $ 34,430 $ 58,963 $ 148,696 $ 257,916 Fair value 15,895 35,157 59,868 152,560 263,480 Average yield (b) 2.77 % 1.95 % 1.54 % 3.51 % 2.80 % Available-for-sale equity securities Amortized cost $ — $ — $ — $ 2,704 $ 2,704 Fair value — — — 2,721 2,721 Average yield (b) — % — % — % 0.20 % 0.20 % Total available-for-sale securities Amortized cost $ 15,827 $ 34,430 $ 58,963 $ 151,400 $ 260,620 Fair value 15,895 35,157 59,868 155,281 266,201 Average yield (b) 2.77 % 1.95 % 1.54 % 3.45 % 2.78 % Total held-to-maturity securities Amortized cost $ — $ 53 $ 643 $ 50,898 $ 51,594 Fair value — 52 666 51,979 52,697 Average yield (b) — 4.35 % 4.86 % 3.96 % 3.97% (a) U.S. government-sponsored enterprises were the only issuers whose securities exceeded 10% of JPMorgan Chase ’s total stockholders’ equity at June 30, 2015. (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 weighted-average life, which reflects anticipated future prepayments, is approximately six years for agency residential mortgage-backed securities, three years for agency residential collateralized mortgage obligations and five years for U.S. nonagency residential collateralized mortgage obligations. |
Securities Financing Activiti47
Securities Financing Activities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Securities Financing Transactions Disclosures [Abstract] | |
Schedule of securities purchased under resale agreements, netting & securities borrowed | The following table presents as of June 30, 2015 , and December 31, 2014 , 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, 2015 December 31, 2014 (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 $ 375,619 $ (166,295 ) $ 209,324 $ 347,142 $ (142,719 ) $ 204,423 Securities purchased under resale agreements where an appropriate legal opinion has not been either sought or obtained 2,745 2,745 10,598 10,598 Total securities purchased under resale agreements $ 378,364 $ (166,295 ) $ 212,069 (a) $ 357,740 $ (142,719 ) $ 215,021 (a) Securities borrowed $ 98,528 NA $ 98,528 (b)(c) $ 110,435 NA $ 110,435 (b)(c) (a) At June 30, 2015 , and December 31, 2014 , included securities purchased under resale agreements of $28.7 billion and $28.6 billion , respectively, accounted for at fair value. (b) At June 30, 2015 , and December 31, 2014 , included securities borrowed of $495 million and $992 million , respectively, accounted for at fair value. (c) Included $19.2 billion and $27.7 billion at June 30, 2015 , and December 31, 2014 , 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, 2015 , and December 31, 2014 , 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 table below excludes information related to resale agreements and securities borrowed where such a legal opinion has not been either sought or obtained. June 30, 2015 December 31, 2014 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 $ 209,324 $ (204,772 ) $ (142 ) $ 4,410 $ 204,423 $ (201,375 ) $ (246 ) $ 2,802 Securities borrowed $ 79,375 $ (76,735 ) $ — $ 2,640 $ 82,748 $ (80,338 ) $ — $ 2,410 (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, 2015 , and December 31, 2014 , 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, 2015 December 31, 2014 (in millions) Gross liability balance Amounts netted on the Consolidated balance sheets Net liability balance Gross liability balance Amounts netted Net liability balance Securities sold under repurchase agreements Securities sold under repurchase agreements with an appropriate legal opinion $ 316,227 $ (166,295 ) $ 149,932 $ 290,529 $ (142,719 ) $ 147,810 Securities sold under repurchase agreements where an appropriate legal opinion has not been either sought or obtained (a) 15,692 15,692 21,996 21,996 Total securities sold under repurchase agreements $ 331,919 $ (166,295 ) $ 165,624 (c) $ 312,525 $ (142,719 ) $ 169,806 (c) Securities loaned (b) $ 19,368 NA $ 19,368 (d)(e) $ 25,927 NA $ 25,927 (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 lending transactions of $5.1 billion and $4.1 billion at June 30, 2015 , and December 31, 2014 , respectively, where the Firm is acting as lender. These amounts are presented within other liabilities in the Consolidated balance sheets. (c) At June 30, 2015 , and December 31, 2014 , included securities sold under repurchase agreements of $3.6 billion and $3.0 billion , respectively, accounted for at fair value. (d) There were no securities loaned accounted for at fair value as of June 30, 2015 , and December 31, 2014 . (e) Included $189 million and $271 million at June 30, 2015 , and December 31, 2014 , respectively, of securities loaned where an appropriate legal opinion has not been either sought or obtained with respect to the master netting agreement. |
Schedule of securities sold under repurchase agreements & securities loaned collateral netting | The following table presents information as of June 30, 2015 , and December 31, 2014 , 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 table below excludes information related to repurchase agreements and securities loaned where such a legal opinion has not been either sought or obtained. June 30, 2015 December 31, 2014 Amounts not nettable on the Consolidated balance sheets (a) Amounts not nettable 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 $ 149,932 $ (146,975 ) $ (443 ) $ 2,514 $ 147,810 $ (145,732 ) $ (497 ) $ 1,581 Securities loaned $ 19,179 $ (19,054 ) $ — $ 125 $ 25,656 $ (25,287 ) $ — $ 369 (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. |
Schedule of types of assets pledged in secured financing transactions | Gross liability balance June 30, 2015 (in millions) Securities sold under repurchase agreements Securities loaned Mortgage-backed securities $ 21,387 $ — U.S. Treasury and government agencies 166,724 23 Obligations of U.S. states and municipalities 2,031 — Non-U.S. government debt 90,644 1,027 Corporate debt securities 26,878 92 Asset-backed securities 5,262 — Equity securities 18,993 18,226 Total $ 331,919 $ 19,368 |
Schedule of remaining contractual maturity of secured financing transactions | Remaining contractual maturity of the agreements Overnight and Continuous Greater than 90 days June 30, 2015 (in millions) Up to 30 days 30 – 90 days Total Total securities sold under repurchase agreements $ 118,368 $ 127,483 $ 28,003 $ 58,065 $ 331,919 Total securities loaned 7,055 838 — 11,475 19,368 |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Loans and Leases Receivable Disclosure [Line Items] | |
Loan portfolio segment descriptions | Loan portfolio The Firm’s loan portfolio is divided into three portfolio segments, which are the same segments used by the Firm to determine the allowance for loan losses: Consumer, excluding credit card; Credit card; and Wholesale. Within each portfolio segment, the Firm monitors and assesses the credit risk in the following classes of loans, based on the risk characteristics of each loan class: Consumer, excluding credit card (a) Credit card Wholesale (c) Residential real estate – excluding PCI • Home equity – senior lien • Home equity – junior lien • Prime mortgage, including option ARMs • 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 • Credit card loans • Commercial and industrial • Real estate • Financial institutions • Government agencies • Other (d) (a) Includes loans held in CCB, prime mortgage and home equity loans held in AM and prime mortgage loans held in Corporate. (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, AM and Corporate. Excludes prime mortgage and home equity loans held in AM and prime mortgage loans held in Corporate. Classes are internally defined and may not align with regulatory definitions. (d) Other primarily includes loans to SPEs and loans to private banking clients. See Note 1 of JPMorgan Chase ’s 2014 Annual Report for additional information on special-purpose entities (“SPEs”). |
Schedule of loans by portfolio segment | The following tables summarize the Firm’s loan balances by portfolio segment. June 30, 2015 Consumer, excluding credit card Credit card (a) Wholesale Total (in millions) Retained $ 316,781 $ 124,705 $ 338,219 $ 779,705 (b) Held-for-sale 1,505 1,320 6,286 9,111 At fair value — — 2,431 2,431 Total $ 318,286 $ 126,025 $ 346,936 $ 791,247 December 31, 2014 Consumer, excluding credit card Credit card (a) Wholesale Total (in millions) Retained $ 294,979 $ 128,027 $ 324,502 $ 747,508 (b) Held-for-sale 395 3,021 3,801 7,217 At fair value — — 2,611 2,611 Total $ 295,374 $ 131,048 $ 330,914 $ 757,336 (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 $919 million and $1.3 billion at June 30, 2015 , and December 31, 2014 , respectively. |
Schedule of retained loans purchased, sold and reclassified to held-for-sale | 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. 2015 2014 Three months ended June 30, (in millions) Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Purchases $ 1,114 (a)(b) $ — $ 487 $ 1,601 $ 2,167 (a)(b) $ — $ 156 $ 2,323 Sales 1,207 1,092 3,076 5,375 1,352 — 2,323 3,675 Retained loans reclassified to held-for-sale 1,254 — 115 1,369 802 215 212 1,229 2015 2014 Six months ended June 30, Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Purchases $ 2,722 (a)(b) $ — $ 695 $ 3,417 $ 3,749 (a)(b) $ — $ 277 $ 4,026 Sales 2,943 1,269 5,525 9,737 2,243 — 4,679 6,922 Retained loans reclassified to held-for-sale 1,272 — 435 1,707 802 215 509 1,526 (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 $14.2 billion and $2.4 billion for the three months ended June 30, 2015 and 2014 , respectively, and $25.4 billion and $4.1 billion for the six months ended June 30, 2015 and 2014 , respectively. |
Schedule of gains/(losses) on loan sales by portfolio segment | The following table provides information about gains and losses, including lower of cost or fair value adjustments, on loan sales by portfolio segment. Three months ended Six months ended (in millions) 2015 2014 2015 2014 Net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) (a) Consumer, excluding credit card $ 86 $ 84 $ 177 $ 126 Credit card (7 ) — 9 — Wholesale 5 3 (1 ) 27 Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) $ 84 $ 87 $ 185 $ 153 (a) Excludes sales related to loans accounted for at fair value. |
Consumer, excluding credit card | |
Loans and Leases Receivable Disclosure [Line Items] | |
Schedule of loans by portfolio segment | The table below provides information about retained consumer loans, excluding credit card, by class. (in millions) June 30, December 31, Residential real estate – excluding PCI Home equity: Senior lien $ 15,541 $ 16,367 Junior lien 33,434 36,375 Mortgages: Prime, including option ARMs 132,556 104,921 Subprime 3,976 5,056 Other consumer loans Auto 56,330 54,536 Business banking 20,564 20,058 Student and other 10,574 10,970 Residential real estate – PCI Home equity 16,088 17,095 Prime mortgage 9,553 10,220 Subprime mortgage 3,449 3,673 Option ARMs 14,716 15,708 Total retained loans $ 316,781 $ 294,979 |
Consumer, excluding credit card | Residential real estate – excluding PCI | |
Loans and Leases Receivable Disclosure [Line Items] | |
Schedule of financing receivable credit quality indicators | 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. Residential real estate – excluding PCI loans Home equity Mortgages (in millions, except ratios) Senior lien Junior lien Prime, including option ARMs Subprime Total residential real estate – excluding PCI Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Loan delinquency (a) Current $ 14,950 $ 15,730 $ 32,746 $ 35,575 $ 122,597 $ 93,951 $ 3,346 $ 4,296 $ 173,639 $ 149,552 30–149 days past due 243 275 442 533 3,417 4,091 405 489 4,507 5,388 150 or more days past due 348 362 246 267 6,542 6,879 225 271 7,361 7,779 Total retained loans $ 15,541 $ 16,367 $ 33,434 $ 36,375 $ 132,556 $ 104,921 $ 3,976 $ 5,056 $ 185,507 $ 162,719 % of 30+ days past due to total retained loans (b) 3.80 % 3.89 % 2.06 % 2.20 % 0.98 % 1.42 % 15.85 % 15.03 % 1.73 % 2.27 % 90 or more days past due and government guaranteed (c) $ — $ — $ — $ — $ 6,805 $ 7,544 $ — $ — $ 6,805 $ 7,544 Nonaccrual loans 907 938 1,461 1,590 1,960 2,190 855 1,036 5,183 5,754 Current estimated LTV ratios (d)(e)(f) Greater than 125% and refreshed FICO scores: Equal to or greater than 660 $ 16 $ 21 $ 310 $ 467 $ 98 $ 120 $ 4 $ 10 $ 428 $ 618 Less than 660 7 10 81 138 67 103 25 51 180 302 101% to 125% and refreshed FICO scores: Equal to or greater than 660 100 134 2,421 3,149 455 648 43 118 3,019 4,049 Less than 660 54 69 683 923 265 340 163 298 1,165 1,630 80% to 100% and refreshed FICO scores: Equal to or greater than 660 506 633 5,551 6,481 3,188 3,863 199 432 9,444 11,409 Less than 660 188 226 1,557 1,780 802 1,026 516 770 3,063 3,802 Less than 80% and refreshed FICO scores: Equal to or greater than 660 12,571 13,048 19,555 20,030 111,229 81,805 1,418 1,586 144,773 116,469 Less than 660 2,099 2,226 3,276 3,407 5,028 4,906 1,608 1,791 12,011 12,330 U.S. government-guaranteed — — — — 11,424 12,110 — — 11,424 12,110 Total retained loans $ 15,541 $ 16,367 $ 33,434 $ 36,375 $ 132,556 $ 104,921 $ 3,976 $ 5,056 $ 185,507 $ 162,719 Geographic region California $ 2,135 $ 2,232 $ 7,455 $ 8,144 $ 37,253 $ 28,133 $ 558 $ 718 $ 47,401 $ 39,227 New York 2,699 2,805 7,125 7,685 18,428 16,550 555 677 28,807 27,717 Illinois 1,244 1,306 2,411 2,605 9,086 6,654 157 207 12,898 10,772 Texas 1,703 1,845 1,007 1,087 6,844 4,935 154 177 9,708 8,044 Florida 829 861 1,759 1,923 5,737 5,106 445 632 8,770 8,522 New Jersey 641 654 2,083 2,233 4,290 3,361 185 227 7,199 6,475 Arizona 868 927 1,462 1,595 2,445 1,805 79 112 4,854 4,439 Washington 474 506 1,111 1,216 3,164 2,410 88 109 4,837 4,241 Michigan 694 736 771 848 1,489 1,203 86 121 3,040 2,908 Ohio 1,084 1,150 704 778 864 615 89 112 2,741 2,655 All other (g) 3,170 3,345 7,546 8,261 42,956 34,149 1,580 1,964 55,252 47,719 Total retained loans $ 15,541 $ 16,367 $ 33,434 $ 36,375 $ 132,556 $ 104,921 $ 3,976 $ 5,056 $ 185,507 $ 162,719 (a) Individual delinquency classifications include mortgage loans insured by U.S. government agencies as follows: current included $2.8 billion and $2.6 billion ; 30 – 149 days past due included $2.9 billion and $3.5 billion ; and 150 or more days past due included $5.7 billion and $6.0 billion at June 30, 2015 , and December 31, 2014 , respectively. (b) At June 30, 2015 , and December 31, 2014 , Prime, including option ARMs loans excluded mortgage loans insured by U.S. government agencies of $8.7 billion and $9.5 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, were excluded from nonaccrual loans as the loans are guaranteed by U.S government agencies. Typically, the principal balance of the loans is insured and interest is guaranteed at a specified reimbursement rate subject to meeting agreed-upon servicing guidelines. At June 30, 2015 , and December 31, 2014 , these balances included $4.0 billion and $4.2 billion , respectively, of loans that are no longer accruing interest based on the agreed-upon servicing guidelines. For the remaining balance, interest is being accrued at the guaranteed reimbursement rate. There were no loans not guaranteed by U.S. government agencies that are 90 or more days past due and still accruing at June 30, 2015 , and December 31, 2014 . (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 loan-to-value (“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, 2015 , and December 31, 2014 , included mortgage loans insured by U.S. government agencies of $11.4 billion and $12.1 billion , respectively. |
Schedule of impaired financing receivables | The table below sets forth information about the Firm’s residential real estate impaired loans, excluding PCI loans. These loans are considered to be impaired as they have been modified in a troubled debt restructuring (“TDR”). All impaired loans are evaluated for an asset-specific allowance as described in Note 15 of JPMorgan Chase ’s 2014 Annual Report . Home equity Mortgages Total residential real estate – excluding PCI (in millions) Senior lien Junior lien Prime, including option ARMs Subprime Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Impaired loans With an allowance $ 556 $ 552 $ 728 $ 722 $ 4,034 $ 4,949 $ 1,445 $ 2,239 $ 6,763 $ 8,462 Without an allowance (a) 521 549 551 582 1,059 1,196 506 639 2,637 2,966 Total impaired loans (b)(c) $ 1,077 $ 1,101 $ 1,279 $ 1,304 $ 5,093 $ 6,145 $ 1,951 $ 2,878 $ 9,400 $ 11,428 Allowance for loan losses related to impaired loans $ 79 $ 84 $ 132 $ 147 $ 96 $ 127 $ 15 $ 64 $ 322 $ 422 Unpaid principal balance of impaired loans (d) 1,410 1,451 2,516 2,603 6,579 7,813 3,013 4,200 13,518 16,067 Impaired loans on nonaccrual status (e) 609 628 609 632 1,433 1,559 752 931 3,403 3,750 (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. At June 30, 2015, Chapter 7 residential real estate loans included approximately 18% of senior lien home equity, 10% of junior lien home equity, 22% of prime mortgages, including option ARMs, and 14% of subprime mortgages that were 30 days or more past due. (b) At June 30, 2015 , and December 31, 2014 , $4.5 billion and $4.9 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, 2015 , and December 31, 2014 . 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, 2015 , and December 31, 2014 , nonaccrual loans included $2.6 billion and $2.9 billion , respectively, of TDRs for which the borrowers were less than 90 days past due. For additional information about loans modified in a TDR that are on nonaccrual status refer to the Loan accounting framework in Note 14 of JPMorgan Chase ’s 2014 Annual Report . |
Schedule of 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 impaired loans (a) Interest income on impaired loans on a cash basis (a) (in millions) 2015 2014 2015 2014 2015 2014 Home equity Senior lien $ 1,085 $ 1,128 $ 13 $ 14 $ 9 $ 10 Junior lien 1,286 1,316 20 20 13 13 Mortgages Prime, including option ARMs 5,605 6,823 55 66 12 14 Subprime 2,548 3,578 35 47 11 13 Total residential real estate – excluding PCI $ 10,524 $ 12,845 $ 123 $ 147 $ 45 $ 50 Six months ended June 30, Average impaired loans Interest income on (a) Interest income on impaired (a) (in millions) 2015 2014 2015 2014 2015 2014 Home equity Senior lien $ 1,090 $ 1,135 $ 26 $ 28 $ 18 $ 19 Junior lien 1,292 1,318 40 41 26 27 Mortgages Prime, including option ARMs 5,828 6,889 114 134 24 27 Subprime 2,684 3,623 72 96 22 26 Total residential real estate – excluding PCI $ 10,894 $ 12,965 $ 252 $ 299 $ 90 $ 99 (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 restructuring on financing receivables | The following table presents new TDRs reported by the Firm. Three months ended June 30, Six months ended June 30, (in millions) 2015 2014 2015 2014 Home equity: Senior lien $ 32 $ 20 $ 58 $ 47 Junior lien 43 46 89 104 Mortgages: Prime, including option ARMs 58 52 121 119 Subprime 15 25 34 53 Total residential real estate – excluding PCI $ 148 $ 143 $ 302 $ 323 |
Troubled debt restructuring 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. Three months ended June 30, Home equity Mortgages Total residential real estate - excluding PCI Senior lien Junior lien Prime, including option ARMs Subprime 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 Number of loans approved for a trial modification 294 218 93 157 294 261 367 529 1,048 1,165 Number of loans permanently modified 314 226 642 699 347 386 395 493 1,698 1,804 Concession granted: (a) Interest rate reduction 75 % 64 % 75 % 88 % 76 % 65 % 71 % 68 % 74 % 75 % Term or payment extension 85 86 88 83 84 79 78 71 84 79 Principal and/or interest deferred 32 12 23 22 36 30 18 15 26 20 Principal forgiveness 4 30 4 29 23 22 30 35 14 29 Other (b) — — 1 — 8 18 10 9 4 6 Six months ended June 30, Home equity Mortgages Total residential real estate - excluding PCI Senior lien Junior lien Prime, including option ARMs Subprime 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 Number of loans approved for a trial modification 650 419 247 341 539 516 789 1,028 2,225 2,304 Number of loans permanently modified 576 521 1,150 1,657 708 917 884 1,260 3,318 4,355 Concession granted: (a) Interest rate reduction 75 % 65 % 76 % 86 % 69 % 62 % 71 % 63 % 73 % 72 % Term or payment extension 83 83 87 83 84 84 80 72 84 80 Principal and/or interest deferred 32 14 25 22 36 32 22 18 28 22 Principal forgiveness 6 30 4 28 26 27 31 38 16 31 Other (b) — — — — 8 17 11 12 5 7 (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 restructuring on financing receivables, financial effects of modifications and re-defaults | 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 exclude 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 Senior lien Junior lien Prime, including option ARMs Subprime 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 Weighted-average interest rate of loans with interest rate reductions – before TDR 5.88 % 6.58 % 4.65 % 4.94 % 5.15 % 5.17 % 6.55 % 7.28 % 5.48 % 5.82 % Weighted-average interest rate of loans with interest rate reductions – after TDR 2.89 2.93 2.23 2.04 2.50 2.54 3.16 3.47 2.65 2.72 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR 17 17 19 19 25 25 24 24 22 23 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR 31 29 33 34 38 37 36 35 35 35 Charge-offs recognized upon permanent modification $ — $ — $ 1 $ 8 $ 2 $ 2 $ 1 $ — $ 4 $ 10 Principal deferred 4 1 3 3 11 10 3 4 21 18 Principal forgiven 1 3 — 6 7 8 7 11 15 28 Balance of loans that redefaulted within one year of permanent modification (a) $ 4 $ 4 $ 1 $ 3 $ 21 $ 44 $ 16 $ 28 $ 42 $ 79 Six months ended June 30, Home equity Mortgages Total residential real estate – excluding PCI Senior lien Junior lien Prime, including option ARMs Subprime 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 Weighted-average interest rate of loans with interest rate reductions – before TDR 5.98 % 6.63 % 4.79 % 4.83 % 5.09 % 5.20 % 6.69 % 7.44 % 5.58 % 5.88 % Weighted-average interest rate of loans with interest rate reductions – after TDR 2.81 2.98 2.22 1.91 2.44 2.67 3.19 3.43 2.65 2.75 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR 17 18 19 19 25 24 24 24 23 23 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR 31 30 34 35 38 37 36 36 36 36 Charge-offs recognized upon permanent modification $ — $ 1 $ 2 $ 22 $ 3 $ 4 $ 2 $ 1 $ 7 $ 28 Principal deferred 7 2 6 6 22 23 10 11 45 42 Principal forgiven 2 6 — 17 16 25 17 32 35 80 Balance of loans that redefaulted within one year of permanent modification (a) $ 6 $ 10 $ 3 $ 6 $ 37 $ 70 $ 31 $ 43 $ 77 $ 129 (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. |
Consumer, excluding credit card | Home equity - junior lien | |
Loans and Leases Receivable Disclosure [Line Items] | |
Schedule of financing receivable credit quality indicators | The following table represents the Firm’s delinquency statistics for junior lien home equity loans and lines as of June 30, 2015 , and December 31, 2014 . Total loans Total 30+ day delinquency rate (in millions, except ratios) Jun 30, Dec 31, Jun 30, Dec 31, HELOCs: (a) Within the revolving period (b) $ 21,023 $ 25,252 1.61 % 1.75 % Beyond the revolving period 9,637 7,979 2.84 3.16 HELOANs 2,774 3,144 2.70 3.34 Total $ 33,434 $ 36,375 2.06 % 2.20 % (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. |
Consumer, excluding credit card | Other Consumer | |
Loans and Leases Receivable Disclosure [Line Items] | |
Schedule of financing receivable credit quality indicators | The table below provides information for other consumer retained loan classes, including auto, business banking and student loans. (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, Loan delinquency (a) Current $ 55,793 $ 53,866 $ 20,258 $ 19,710 $ 9,825 $ 10,080 $ 85,876 $ 83,656 30–119 days past due 530 663 191 208 485 576 1,206 1,447 120 or more days past due 7 7 115 140 264 314 386 461 Total retained loans $ 56,330 $ 54,536 $ 20,564 $ 20,058 $ 10,574 $ 10,970 $ 87,468 $ 85,564 % of 30+ days past due to total retained loans 0.95 % 1.23 % 1.49 % 1.73 % 1.92 % (d) 2.15 % (d) 1.20 % (d) 1.47 % (d) 90 or more days past due and still accruing (b) $ — $ — $ — $ — $ 282 $ 367 $ 282 $ 367 Nonaccrual loans 97 115 239 279 253 270 589 664 Geographic region California $ 6,671 $ 6,294 $ 3,206 $ 3,008 $ 1,102 $ 1,143 $ 10,979 $ 10,445 New York 3,682 3,662 3,180 3,187 1,236 1,259 8,098 8,108 Illinois 3,366 3,175 1,388 1,373 706 729 5,460 5,277 Texas 5,893 5,608 2,592 2,626 852 868 9,337 9,102 Florida 2,517 2,301 899 827 528 521 3,944 3,649 New Jersey 1,972 1,945 504 451 392 378 2,868 2,774 Arizona 1,947 2,003 1,174 1,083 239 239 3,360 3,325 Washington 1,066 1,019 267 258 222 235 1,555 1,512 Michigan 1,586 1,633 1,376 1,375 442 466 3,404 3,474 Ohio 2,284 2,157 1,357 1,354 594 629 4,235 4,140 All other 25,346 24,739 4,621 4,516 4,261 4,503 34,228 33,758 Total retained loans $ 56,330 $ 54,536 $ 20,564 $ 20,058 $ 10,574 $ 10,970 $ 87,468 $ 85,564 Loans by risk ratings (c) Noncriticized $ 10,173 $ 9,822 $ 15,012 $ 14,619 NA NA $ 25,185 $ 24,441 Criticized performing 83 35 744 708 NA NA 827 743 Criticized nonaccrual — — 191 213 NA NA 191 213 (a) Individual delinquency classifications included loans insured by U.S. government agencies under the Federal Family Education Loan Program (“FFELP”) as follows: current included $4.1 billion and $4.3 billion ; 30 - 119 days past due included $303 million and $364 million ; and 120 or more days past due included $243 million and $290 million at June 30, 2015 , and December 31, 2014 , respectively. (b) These amounts represent student loans, which are insured by U.S. government agencies under the FFELP. These amounts were accruing as reimbursement of insured amounts is proceeding normally. (c) For risk-rated business banking and auto loans, the primary credit quality indicator is the risk rating of the loan, including whether the loans are considered to be criticized and/or nonaccrual. (d) June 30, 2015 , and December 31, 2014 , excluded loans 30 days or more past due and still accruing, which are insured by U.S. government agencies under the FFELP, of $546 million and $654 million , respectively. These amounts were excluded as reimbursement of insured amounts is proceeding normally. |
Schedule of impaired financing receivables | The table below sets forth information about the Firm’s other consumer impaired loans, including risk-rated business banking and auto loans that have been placed on nonaccrual status, and loans that have been modified in TDRs. (in millions) June 30, December 31, Impaired loans With an allowance $ 529 $ 557 Without an allowance (a) 31 35 Total impaired loans (b)(c) $ 560 $ 592 Allowance for loan losses related to impaired loans $ 114 $ 117 Unpaid principal balance of impaired loans (d) 682 719 Impaired loans on nonaccrual status 440 456 (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) Other consumer average impaired loans were $566 million and $600 million for the three months ended June 30, 2015 and 2014 , respectively, and $576 million and $599 million for the six months ended June 30, 2015 and 2014 , respectively. 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, 2015 and 2014 . (d) Represents the contractual amount of principal owed at June 30, 2015 , and December 31, 2014 . 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. |
Troubled debt restructuring on financing receivables | The following table provides information about the Firm’s other consumer loans modified in TDRs. New TDRs were not material for the three and six months ended June 30, 2015 and 2014. (in millions) June 30, December 31, Loans modified in TDRs (a)(b) $ 407 $ 442 TDRs on nonaccrual status 287 306 (a) The impact of these modifications was not material to the Firm for the three and six months ended June 30, 2015 and 2014 . (b) Additional commitments to lend to borrowers whose loans have been modified in TDRs as of June 30, 2015 , and December 31, 2014 , were immaterial. |
Consumer, excluding credit card | Purchased Credit-Impaired | |
Loans and Leases Receivable Disclosure [Line Items] | |
Schedule of financing receivable credit quality indicators | The table below sets forth information about the Firm’s consumer, excluding credit card, PCI loans. (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, Carrying value (a) $ 16,088 $ 17,095 $ 9,553 $ 10,220 $ 3,449 $ 3,673 $ 14,716 $ 15,708 $ 43,806 $ 46,696 Related allowance for loan losses (b) 1,758 1,758 1,083 1,193 180 180 194 194 3,215 3,325 Loan delinquency (based on unpaid principal balance) Current $ 15,411 $ 16,295 $ 8,473 $ 8,912 $ 3,416 $ 3,565 $ 13,116 $ 13,814 $ 40,416 $ 42,586 30–149 days past due 326 445 395 500 451 536 707 858 1,879 2,339 150 or more days past due 759 1,000 712 837 464 551 1,515 1,824 3,450 4,212 Total loans $ 16,496 $ 17,740 $ 9,580 $ 10,249 $ 4,331 $ 4,652 $ 15,338 $ 16,496 $ 45,745 $ 49,137 % of 30+ days past due to total loans 6.58 % 8.15 % 11.56 % 13.05 % 21.13 % 23.37 % 14.49 % 16.26 % 11.65 % 13.33 % Current estimated LTV ratios (based on unpaid principal balance) (c)(d) Greater than 125% and refreshed FICO scores: Equal to or greater than 660 $ 350 $ 513 $ 24 $ 45 $ 21 $ 34 $ 54 $ 89 $ 449 $ 681 Less than 660 180 273 58 97 103 160 86 150 427 680 101% to 125% and refreshed FICO scores: Equal to or greater than 660 1,788 2,245 308 456 143 215 392 575 2,631 3,491 Less than 660 835 1,073 282 402 367 509 528 771 2,012 2,755 80% to 100% and refreshed FICO scores: Equal to or greater than 660 3,868 4,171 1,674 2,154 456 519 1,937 2,418 7,935 9,262 Less than 660 1,490 1,647 1,100 1,316 879 1,006 1,640 1,996 5,109 5,965 Lower than 80% and refreshed FICO scores: Equal to or greater than 660 5,979 5,824 3,894 3,663 785 719 6,762 6,593 17,420 16,799 Less than 660 2,006 1,994 2,240 2,116 1,577 1,490 3,939 3,904 9,762 9,504 Total unpaid principal balance $ 16,496 $ 17,740 $ 9,580 $ 10,249 $ 4,331 $ 4,652 $ 15,338 $ 16,496 $ 45,745 $ 49,137 Geographic region (based on unpaid principal balance) California $ 9,908 $ 10,671 $ 5,591 $ 5,965 $ 1,077 $ 1,138 $ 8,634 $ 9,190 $ 25,210 $ 26,964 New York 833 876 647 672 422 463 856 933 2,758 2,944 Illinois 382 405 282 301 211 229 357 397 1,232 1,332 Texas 248 273 85 92 259 281 81 85 673 731 Florida 1,581 1,696 625 689 399 432 1,298 1,440 3,903 4,257 New Jersey 329 348 263 279 150 165 505 553 1,247 1,345 Arizona 299 323 155 167 82 85 215 227 751 802 Washington 889 959 208 225 87 95 360 395 1,544 1,674 Michigan 49 53 154 166 121 130 168 182 492 531 Ohio 18 20 45 48 68 72 65 69 196 209 All other 1,960 2,116 1,525 1,645 1,455 1,562 2,799 3,025 7,739 8,348 Total unpaid principal balance $ 16,496 $ 17,740 $ 9,580 $ 10,249 $ 4,331 $ 4,652 $ 15,338 $ 16,496 $ 45,745 $ 49,137 (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 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, 2015 and 2014 , 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. Total PCI (in millions, except ratios) Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Beginning balance $ 14,034 $ 15,782 $ 14,592 $ 16,167 Accretion into interest income (430 ) (495 ) (866 ) (1,009 ) Changes in interest rates on variable-rate loans 12 (45 ) 18 (66 ) Other changes in expected cash flows (a) 125 33 (3 ) 183 Balance at June 30 $ 13,741 $ 15,275 $ 13,741 $ 15,275 Accretable yield percentage 4.18 % 4.24 % 4.16 % 4.28 % (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, 2015 and 2014 , other changes in expected cash flows were driven by changes in prepayment assumptions. |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity Junior Lien | |
Loans and Leases Receivable Disclosure [Line Items] | |
Schedule of financing receivable credit quality indicators | The following tables set forth delinquency statistics for PCI junior lien home equity loans and lines of credit based on unpaid principal balance as of June 30, 2015 , and December 31, 2014 . Total loans Total 30+ day delinquency rate (in millions, except ratios) Jun 30, Dec 31, Jun 30, Dec 31, HELOCs: (a) Within the revolving period (b) $ 7,004 $ 8,972 4.35 % 6.42 % Beyond the revolving period (c) 5,141 4,143 5.10 6.42 HELOANs 651 736 5.68 8.83 Total $ 12,796 $ 13,851 4.72 % 6.55 % (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. |
Credit card | |
Loans and Leases Receivable Disclosure [Line Items] | |
Schedule of financing receivable credit quality indicators | The table below sets forth information about the Firm’s credit card loans. (in millions, except ratios) June 30, December 31, Loan delinquency Current and less than 30 days past due and still accruing $ 123,102 $ 126,189 30–89 days past due and still accruing 812 943 90 or more days past due and still accruing 791 895 Nonaccrual loans — — Total retained credit card loans $ 124,705 $ 128,027 Loan delinquency ratios % of 30+ days past due to total retained loans 1.29 % 1.44 % % of 90+ days past due to total retained loans 0.63 0.70 Credit card loans by geographic region California $ 17,661 $ 17,940 Texas 11,065 11,088 New York 10,763 10,940 Illinois 7,314 7,497 Florida 7,265 7,398 New Jersey 5,632 5,750 Ohio 4,520 4,707 Pennsylvania 4,317 4,489 Michigan 3,418 3,552 Virginia 3,075 3,263 All other 49,675 51,403 Total retained credit card loans $ 124,705 $ 128,027 Percentage of portfolio based on carrying value with estimated refreshed FICO scores Equal to or greater than 660 85.7 % 85.7 % Less than 660 14.3 14.3 |
Schedule of impaired financing receivables | The table below sets forth information about the Firm’s impaired credit card loans. All of these loans are considered to be impaired as they have been modified in TDRs. (in millions) June 30, December 31, Impaired credit card loans with an allowance (a)(b) Credit card loans with modified payment terms (c) $ 1,480 $ 1,775 Modified credit card loans that have reverted to pre-modification payment terms (d) 205 254 Total impaired credit card loans (e) $ 1,685 $ 2,029 Allowance for loan losses related to impaired credit card loans $ 518 $ 500 (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, 2015 , and December 31, 2014 , $127 million and $159 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 $78 million and $95 million at June 30, 2015 , and December 31, 2014 , 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. |
Schedule of impaired financing receivables, average recorded investment | The following table presents average balances of impaired credit card loans and interest income recognized on those loans. Three months ended Six months ended (in millions) 2015 2014 2015 2014 Average impaired credit card loans $ 1,769 $ 2,617 $ 1,854 $ 2,776 Interest income on impaired credit card loans 21 32 44 68 |
Troubled debt restructuring on financing receivables, financial effects of modifications and re-defaults | 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 ended June 30, Six months ended 2015 2014 2015 2014 Weighted-average interest rate of loans – before TDR 15.15 % 15.05 % 15.16 % 15.04 % Weighted-average interest rate of loans – after TDR 4.27 4.33 4.28 4.36 Loans that redefaulted within one year of modification (a) $ 20 $ 29 $ 42 $ 63 (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 | |
Loans and Leases Receivable Disclosure [Line Items] | |
Schedule of financing receivable credit quality indicators | The table below provides information by class of receivable for the retained loans in the Wholesale portfolio segment. Commercial and industrial Real estate Financial Government agencies Other (d) Total (in millions, except ratios) Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Jun 30, Dec 31, Loans by risk ratings Investment-grade $ 64,034 $ 63,069 $ 67,658 $ 61,006 $ 23,811 $ 27,111 $ 10,836 $ 8,393 $ 87,810 $ 82,087 $ 254,149 $ 241,666 Noninvestment-grade: Noncriticized 44,962 44,117 15,863 16,541 6,071 7,085 298 300 10,985 10,075 78,179 78,118 Criticized performing 3,017 2,251 1,444 1,313 375 316 8 3 174 236 5,018 4,119 Criticized nonaccrual 492 188 248 253 11 18 5 — 117 140 873 599 Total noninvestment- grade 48,471 46,556 17,555 18,107 6,457 7,419 311 303 11,276 10,451 84,070 82,836 Total retained loans $ 112,505 $ 109,625 $ 85,213 $ 79,113 $ 30,268 $ 34,530 $ 11,147 $ 8,696 $ 99,086 $ 92,538 $ 338,219 $ 324,502 % of total criticized to total retained loans 3.12 % 2.22 % 1.99 % 1.98 % 1.28 % 0.97 % 0.12 % 0.03 % 0.29 % 0.41 % 1.74 % 1.45 % % of nonaccrual loans to total retained loans 0.44 0.17 0.29 0.32 0.04 0.05 0.04 — 0.12 0.15 0.26 0.18 Loans by geographic distribution (a) Total non-U.S. $ 32,201 $ 33,739 $ 1,853 $ 2,099 $ 17,408 $ 20,944 $ 1,641 $ 1,122 $ 44,730 $ 42,961 $ 97,833 $ 100,865 Total U.S. 80,304 75,886 83,360 77,014 12,860 13,586 9,506 7,574 54,356 49,577 240,386 223,637 Total retained loans $ 112,505 $ 109,625 $ 85,213 $ 79,113 $ 30,268 $ 34,530 $ 11,147 $ 8,696 $ 99,086 $ 92,538 $ 338,219 $ 324,502 Loan delinquency (b) Current and less than 30 days past due and still accruing $ 111,835 $ 108,857 $ 84,830 $ 78,552 $ 30,222 $ 34,408 $ 11,127 $ 8,627 $ 97,763 $ 91,168 $ 335,777 $ 321,612 30–89 days past due and still accruing 174 566 120 275 29 104 15 69 1,109 1,201 1,447 2,215 90 or more days past due and still accruing (c) 4 14 15 33 6 — — — 97 29 122 76 Criticized nonaccrual 492 188 248 253 11 18 5 — 117 140 873 599 Total retained loans $ 112,505 $ 109,625 $ 85,213 $ 79,113 $ 30,268 $ 34,530 $ 11,147 $ 8,696 $ 99,086 $ 92,538 $ 338,219 $ 324,502 (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 2014 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 2014 Annual Report for additional information on SPEs. |
Schedule of impaired financing receivables | Wholesale impaired loans are comprised of loans that have been placed on nonaccrual status and/or that have been modified in a TDR. All impaired loans are evaluated for an asset-specific allowance as described in Note 15 of JPMorgan Chase ’s 2014 Annual Report . The table below sets forth information about the Firm’s wholesale impaired loans. (in millions) Commercial and industrial Real estate Financial institutions Government agencies Other Total 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, Impaired loans With an allowance $ 401 $ 174 $ 154 $ 193 $ 10 $ 15 $ 5 $ — $ 59 $ 89 $ 629 $ 471 Without an allowance (a) 102 24 116 87 2 3 — — 59 52 279 166 Total impaired loans $ 503 $ 198 $ 270 $ 280 $ 12 $ 18 $ 5 $ — $ 118 $ 141 $ 908 (c) $ 637 (c) Allowance for loan losses related to impaired loans $ 85 $ 34 $ 17 $ 36 $ 2 $ 4 $ 2 $ — $ 41 $ 13 $ 147 $ 87 Unpaid principal balance of impaired loans (b) 541 266 354 345 14 22 5 — 122 202 1,036 835 (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, 2015 , and December 31, 2014 . 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. |
Schedule of impaired financing receivables, average recorded investment | The following table presents the Firm’s average impaired loans for the periods indicated. Three months ended June 30, Six months ended June 30, (in millions) 2015 2014 2015 2014 Commercial and industrial $ 355 $ 249 $ 303 $ 270 Real estate 242 306 255 330 Financial institutions 15 19 15 21 Government agencies 1 — 1 — Other 114 159 111 164 Total (a) $ 727 $ 733 $ 685 $ 785 (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, 2015 and 2014 . |
Wholesale | Real estate | |
Loans and Leases Receivable Disclosure [Line Items] | |
Schedule of financing receivable credit quality indicators | The following table presents additional information on the real estate class of loans within the Wholesale portfolio segment for the periods indicated. For further information on real estate loans, see Note 14 of JPMorgan Chase ’s 2014 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, Real estate retained loans $ 55,501 $ 51,049 $ 17,235 $ 17,438 $ 4,723 $ 4,264 $ 7,754 $ 6,362 $ 85,213 $ 79,113 Criticized exposure 617 652 992 841 17 42 66 31 1,692 1,566 % of criticized exposure to total real estate retained loans 1.11 % 1.28 % 5.76 % 4.82 % 0.36 % 0.98 % 0.85 % 0.49 % 1.99 % 1.98 % Criticized nonaccrual $ 111 $ 126 $ 95 $ 110 $ — $ — $ 42 $ 17 $ 248 $ 253 % of criticized nonaccrual to total real estate retained loans 0.20 % 0.25 % 0.55 % 0.63 % — % — % 0.54 % 0.27 % 0.29 % 0.32 % |
Allowance for credit losses (Ta
Allowance for credit losses (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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. 2015 2014 Six months ended June 30 (in millions) Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Allowance for loan losses Beginning balance at January 1, $ 7,050 $ 3,439 $ 3,696 $ 14,185 8,456 $ 3,795 $ 4,013 $ 16,264 Gross charge-offs 827 1,776 33 2,636 1,084 1,982 77 3,143 Gross recoveries (337 ) (187 ) (53 ) (577 ) (399 ) (209 ) (108 ) (716 ) Net charge-offs/(recoveries) 490 1,589 (20 ) 2,059 685 1,773 (31 ) 2,427 Write-offs of PCI loans (a) 110 — — 110 109 — — 109 Provision for loan losses 42 1,589 265 1,896 81 1,573 (55 ) 1,599 Other — (5 ) 8 3 — (1 ) — (1 ) Ending balance at June 30, $ 6,492 $ 3,434 $ 3,989 $ 13,915 $ 7,743 $ 3,594 $ 3,989 $ 15,326 Allowance for loan losses by impairment methodology Asset-specific (b) $ 436 $ 518 (c) $ 147 $ 1,101 $ 598 $ 583 (c) $ 138 $ 1,319 Formula-based 2,841 2,916 3,842 9,599 3,396 3,011 3,851 10,258 PCI 3,215 — — 3,215 3,749 — — 3,749 Total allowance for loan losses $ 6,492 $ 3,434 $ 3,989 $ 13,915 $ 7,743 $ 3,594 $ 3,989 $ 15,326 Loans by impairment methodology Asset-specific $ 9,960 $ 1,685 $ 908 $ 12,553 $ 13,191 $ 2,467 $ 732 $ 16,390 Formula-based 263,015 123,020 337,307 723,342 224,905 123,154 320,797 668,856 PCI 43,806 — 4 43,810 50,118 — 5 50,123 Total retained loans $ 316,781 $ 124,705 $ 338,219 $ 779,705 $ 288,214 $ 125,621 $ 321,534 $ 735,369 Impaired collateral-dependent loans Net charge-offs $ 33 $ — $ 2 $ 35 $ 81 $ — $ (5 ) $ 76 Loans measured at fair value of collateral less cost to sell 2,695 — 307 3,002 3,250 — 321 3,571 Allowance for lending-related commitments Beginning balance at January 1, $ 13 $ — $ 609 $ 622 $ 8 $ — $ 697 $ 705 Provision for lending-related commitments 2 — (4 ) (2 ) 1 — (58 ) (57 ) Other — — — — — — — — Ending balance at June 30, $ 15 $ — $ 605 $ 620 $ 9 $ — $ 639 $ 648 Allowance for lending-related commitments by impairment methodology Asset-specific $ — $ — $ 55 $ 55 $ — $ — $ 43 $ 43 Formula-based 15 — 550 565 9 — 596 605 Total allowance for lending-related commitments $ 15 $ — $ 605 $ 620 $ 9 $ — $ 639 $ 648 Lending-related commitments by impairment methodology Asset-specific $ — $ — $ 133 $ 133 $ — $ — $ 122 $ 122 Formula-based 59,817 523,717 351,915 935,449 56,410 533,688 451,153 1,041,251 Total lending-related commitments $ 59,817 $ 523,717 $ 352,048 $ 935,582 $ 56,410 $ 533,688 $ 451,275 $ 1,041,373 (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. A write-off of a PCI loan is 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, 2015 | |
Variable Interest Entities [Abstract] | |
Schedule of significant types of variable interest entities by business segment | 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 144 Mortgage securitization trusts Servicing and securitization of both originated and purchased residential mortgages 144 –146 CIB Mortgage and other securitization trusts Securitization of both originated and purchased residential and commercial mortgages, and student loans 144 –146 Multi-seller conduits Investor intermediation activities: Assist clients in accessing the financial markets in a cost-efficient manner and structures transactions to meet investor needs 146 Municipal bond vehicles 146 –147 Credit-related note and asset swap vehicles 147 |
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 149 of this Note for further information regarding the Firm’s cash flows with and interests retained in nonconsolidated VIEs, and page 149 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, 2015 (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 Securitization-related Residential mortgage: Prime/Alt-A and Option ARMs $ 91.8 $ 1.6 $ 75.5 $ 0.7 $ 1.6 $ 2.3 Subprime 26.1 0.1 24.2 — — — Commercial and other (b) 127.3 0.2 94.0 0.4 3.6 4.0 Total $ 245.2 $ 1.9 $ 193.7 $ 1.1 $ 5.2 $ 6.3 Principal amount outstanding JPMorgan Chase interest in securitized assets in nonconsolidated VIEs (c)(d)(e) December 31, 2014 (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 $ 96.3 $ 2.7 $ 78.3 $ 0.5 $ 0.7 $ 1.2 Subprime 28.4 0.8 25.7 0.1 — 0.1 Commercial and other (b) 129.6 0.2 94.4 0.4 3.5 3.9 Total $ 254.3 $ 3.7 $ 198.4 $ 1.0 $ 4.2 $ 5.2 (a) Excludes U.S. government agency securitizations. See page 149 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 loan 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 $97 million and $161 million , respectively, at June 30, 2015 , and $136 million and $34 million , respectively, at December 31, 2014 , 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, 2015 , and December 31, 2014 , 74% and 77% , respectively, of the Firm’s retained securitization interests, which are carried at fair value, were risk-rated “A” or better, on an S&P-equivalent basis. The retained interests in prime residential mortgages consisted of $2.1 billion and $1.1 billion of investment-grade and $175 million and $185 million of noninvestment-grade retained interests at June 30, 2015 , and December 31, 2014 , respectively. The retained interests in commercial and other securitizations trusts consisted of $3.8 billion and $3.7 billion of investment-grade and $229 million and $194 million of noninvestment-grade retained interests at June 30, 2015 , and December 31, 2014 , respectively. |
Firm's exposure to nonconsolidated municipal bond VIEs | The Firm’s exposure to nonconsolidated municipal bond VIEs at June 30, 2015 , and December 31, 2014 , 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 June 30, 2015 $ 11.7 $ 6.6 $ 5.1 $ 6.6 December 31, 2014 11.5 6.3 5.2 6.3 |
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 June 30, 2015 $ 2.7 $ 8.6 $ 0.4 $ — $ — $ 11.7 4.9 December 31, 2014 2.7 8.4 0.4 — — 11.5 4.9 (a) Represents the excess/(deficit) of the fair values of municipal bond assets available to repay the liquidity facilities, if drawn. (b) The ratings scale is presented on an S&P-equivalent basis. |
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, 2015 , and December 31, 2014 . Assets Liabilities June 30, 2015 (in billions) (a) Trading assets Loans Other (c) Total assets (d) Beneficial interests in VIE assets (e) Other (f) Total liabilities VIE program type Firm-sponsored credit card trusts $ — $ 47.9 $ 0.7 $ 48.6 $ 31.2 $ — $ 31.2 Firm-administered multi-seller conduits — 16.5 — 16.5 13.0 — 13.0 Municipal bond vehicles 2.6 — — 2.6 2.5 — 2.5 Mortgage securitization entities (b) 2.2 0.7 — 2.9 1.2 0.7 1.9 Student loan securitization entities 0.1 2.0 0.1 2.2 2.0 — 2.0 Other 0.3 — 1.5 1.8 0.1 0.2 0.3 Total $ 5.2 $ 67.1 $ 2.3 $ 74.6 $ 50.0 $ 0.9 $ 50.9 Assets Liabilities December 31, 2014 (in billions) (a) Trading assets Loans Other (c) Total assets (d) Beneficial interests in VIE assets (e) Other (f) Total liabilities VIE program type Firm-sponsored credit card trusts $ — $ 48.3 $ 0.7 $ 49.0 $ 31.2 $ — $ 31.2 Firm-administered multi-seller conduits — 17.7 0.1 17.8 12.0 — 12.0 Municipal bond vehicles 5.3 — — 5.3 4.9 — 4.9 Mortgage securitization entities (b) 3.3 0.7 — 4.0 2.1 0.8 2.9 Student loan securitization entities 0.2 2.2 — 2.4 2.1 — 2.1 Other 0.3 — 1.0 1.3 0.1 0.1 0.2 Total $ 9.1 $ 68.9 $ 1.8 $ 79.8 $ 52.4 $ 0.9 $ 53.3 (a) Excludes intercompany transactions which were eliminated in consolidation. (b) Includes residential and commercial mortgage securitizations as well as re-securitizations. (c) Includes assets classified as cash, AFS securities, and other assets within the Consolidated balance sheets. (d) 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. (e) 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 $34.5 billion and $35.4 billion at June 30, 2015 , and December 31, 2014 , respectively. The maturities of the long-term beneficial interests as of June 30, 2015, were as follows: $6.8 billion under one year, $23.1 billion between one and five years, and $4.6 billion over five years. (f) 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, 2015 and 2014, 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, 2015 2014 2015 2014 (in millions) (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 $ 380 $ 2,676 $ 304 $ 2,612 $ 1,692 $ 6,051 $ 660 $ 4,639 All cash flows during the period: Proceeds from new securitizations (b) $ 385 $ 2,689 $ 312 $ 2,664 $ 1,702 $ 6,058 $ 663 $ 4,708 Servicing fees collected 134 1 137 1 280 2 276 2 Purchases of previously transferred financial assets (or the underlying collateral) (c) 1 — 64 — 1 — 67 — Cash flows received on interests 116 128 41 397 186 207 85 459 (a) Excludes re-securitization transactions. (b) For the three and six months ended June 30, 2015, $385 million and $1.7 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, 2015, $2.7 billion and $6.0 billion , respectively, of proceeds from commercial mortgage securitizations were received as securities classified in level 2 and $38 million of proceeds classified as level 3 of the fair value hierarchy. 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. All loans transferred into securitization vehicles during the three and six months ended June 30, 2015 and 2014, 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 ended June 30, Six months ended June 30, (in millions) 2015 2014 2015 2014 Carrying value of loans sold (a) $ 10,660 $ 12,603 $ 22,799 $ 26,253 Proceeds received from loan sales as cash 48 50 99 89 Proceeds from loans sales as securities (b) 10,559 12,461 22,588 26,196 Total proceeds received from loan sales (c) $ 10,607 $ 12,511 $ 22,687 $ 26,285 Gains on loan sales (d) $ 86 $ 82 $ 177 $ 119 (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 loan sales include the value of MSRs. (d) The carrying value of the loans accounted for at fair value approximated the total 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, 2015, and December 31, 2014, respectively; and liquidation losses for the three and six months ended June 30, 2015 and 2014, 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, 2015 2014 2015 2014 Securitized loans (a) Residential mortgage: Prime / Alt-A & Option ARMs $ 75,466 $ 78,294 $ 10,036 $ 11,363 $ 454 $ 598 $ 916 $ 1,257 Subprime 24,237 25,659 6,045 6,473 371 464 725 1,203 Commercial and other 93,973 94,438 1,469 1,522 40 408 139 642 Total loans securitized (b) $ 193,676 $ 198,391 $ 17,550 $ 19,358 $ 865 $ 1,470 $ 1,780 $ 3,102 (a) Total assets held in securitization-related SPEs were $245.2 billion and $254.3 billion , respectively, at June 30, 2015, and December 31, 2014. The $193.7 billion and $198.4 billion , respectively, of loans securitized at June 30, 2015, and December 31, 2014, excluded: $49.6 billion and $52.2 billion , respectively, of securitized loans in which the Firm has no continuing involvement, and $1.9 billion and $3.7 billion , respectively, of loan securitizations consolidated on the Firm’s Consolidated balance sheets at June 30, 2015, and December 31, 2014. (b) Includes securitized loans that were previously recorded at fair value and classified as trading assets. |
Goodwill and other intangible51
Goodwill and other intangible assets (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Tables of goodwill | The following table presents goodwill attributed to the business segments. (in millions) June 30, December 31, Consumer & Community Banking $ 30,893 $ 30,941 Corporate & Investment Bank 6,776 6,780 Commercial Banking 2,861 2,861 Asset Management 6,946 6,964 Corporate — 101 Total goodwill $ 47,476 $ 47,647 The following table presents changes in the carrying amount of goodwill. Three months ended Six months ended (in millions) 2015 2014 2015 2014 Balance at beginning of period $ 47,453 $ 48,065 $ 47,647 $ 48,081 Changes during the period from: Business combinations 9 9 17 18 Dispositions — — (101 ) (b) — Other (a) 14 36 (87 ) 11 Balance at June 30, $ 47,476 $ 48,110 $ 47,476 $ 48,110 (a) Includes foreign currency translation adjustments and other tax-related adjustments. (b) Represents Private Equity goodwill which was disposed of as part of the Private Equity sale completed in January 2015. |
Mortgage servicing rights activity | The following table summarizes MSR activity for the three and six months ended June 30, 2015 and 2014 . As of or for the three months As of or for the six months (in millions, except where otherwise noted) 2015 2014 2015 2014 Fair value at beginning of period $ 6,641 $ 8,552 $ 7,436 $ 9,614 MSR activity: Originations of MSRs 145 178 300 370 Purchase of MSRs 438 3 439 6 Disposition of MSRs (a) (218 ) 2 (375 ) (186 ) Net additions 365 183 364 190 Changes due to collection/realization of expected cash flows (b) (229 ) (239 ) (444 ) (486 ) Changes in valuation due to inputs and assumptions: Changes due to market interest rates and other (c) 816 (369 ) 339 (731 ) Changes in valuation due to other inputs and assumptions: Projected cash flows (e.g., cost to service) (17 ) — (27 ) (11 ) Discount rates — (10 ) (10 ) (459 ) (g) Prepayment model changes and other (d) (5 ) 230 (87 ) 230 Total changes in valuation due to other inputs and assumptions (22 ) 220 (124 ) (240 ) Total changes in valuation due to inputs and assumptions (b) 794 (149 ) 215 (971 ) Fair value at June 30, (e) $ 7,571 $ 8,347 $ 7,571 $ 8,347 Change in unrealized gains/(losses) included in income related to MSRs held at June 30, $ 794 $ (149 ) $ 215 $ (971 ) Contractual service fees, late fees and other ancillary fees included in income $ 644 $ 731 $ 1,311 $ 1,488 Third-party mortgage loans serviced at June 30, (in billions) $ 727 $ 791 $ 727 $ 791 Net servicer advances at June 30, (in billions) (f) $ 7.1 $ 8.8 $ 7.1 $ 8.8 (a) For the six months ended June 30, 2014 , predominantly represents excess MSRs 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 months ended June 30, 2015 and 2014 and six months ended June 30, 2015 and 2014 . (b) Included changes related to commercial real estate of zero and $(2) million for the three months ended June 30, 2015 and 2014 , respectively, and $(2) million and $(4) million for the six months ended June 30, 2015 and 2014 , respectively. (c) Represents both the impact of changes in estimated future prepayments due to changes in market interest rates, and the difference between actual and expected prepayments. (d) Represents changes in prepayments other than those attributable to changes in market interest rates. (e) Included $9 million and $14 million related to commercial real estate at June 30, 2015 and 2014 , respectively. (f) Represents amounts the Firm pays as the servicer (e.g., scheduled principal and interest, taxes and insurance), which will generally be reimbursed within a short period of time after the advance from future cash flows from the trust or the underlying loans. The Firm’s credit risk associated with these 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. (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. |
CCB mortgage fees and related income | The following table presents the components of mortgage fees and related income (including the impact of MSR risk management activities) for the three and six months ended June 30, 2015 and 2014 . Three months ended Six months ended (in millions) 2015 2014 2015 2014 CCB mortgage fees and related income Net production revenue $ 233 $ 323 $ 470 $ 612 Net mortgage servicing revenue Operating revenue: Loan servicing revenue 707 867 1,456 1,737 Changes in MSR asset fair value due to collection/realization of expected cash flows (228 ) (237 ) (442 ) (482 ) Total operating revenue 479 630 1,014 1,255 Risk management: Changes in MSR asset fair value due to market interest rates and other (a) 815 (368 ) 339 (730 ) Other changes in MSR asset fair value due to other inputs and assumptions in model (b) (22 ) 220 (124 ) (240 ) Change in derivative fair value and other (723 ) 485 (213 ) 907 Total risk management 70 337 2 (63 ) Total CCB net mortgage servicing revenue 549 967 1,016 1,192 All other 1 1 2 1 Mortgage fees and related income $ 783 $ 1,291 $ 1,488 $ 1,805 (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 FV of MSRs | The table below outlines the key economic assumptions used to determine the fair value of the Firm’s MSRs at June 30, 2015 , and December 31, 2014 , 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, Weighted-average prepayment speed assumption (“CPR”) 9.01 % 9.80 % Impact on fair value of 10% adverse change $ (327 ) $ (337 ) Impact on fair value of 20% adverse change (633 ) (652 ) Weighted-average option adjusted spread 9.38 % 9.43 % Impact on fair value of 100 basis points adverse change $ (304 ) $ (300 ) Impact on fair value of 200 basis points adverse change (586 ) (578 ) CPR: Constant prepayment rate. |
Deposits (Tables)
Deposits (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Deposits [Abstract] | |
Noninterest-bearing and interest-bearing deposits | At June 30, 2015, and December 31, 2014, noninterest-bearing and interest-bearing deposits were as follows. (in millions) June 30, 2015 December 31, 2014 U.S. offices Noninterest-bearing $ 432,052 $ 437,558 Interest-bearing: Demand (a) 69,477 90,319 Savings (b) 462,554 466,730 Time (included $9,364 and $7,501 at fair value) (c) 79,407 86,301 Total interest-bearing deposits 611,438 643,350 Total deposits in U.S. offices 1,043,490 1,080,908 Non-U.S. offices Noninterest-bearing 21,777 19,078 Interest-bearing: Demand 177,923 217,011 Savings 1,873 2,673 Time (included $2,121 and $1,306 at fair value) (c) 42,269 43,757 Total interest-bearing deposits 222,065 263,441 Total deposits in non-U.S. offices 243,842 282,519 Total deposits $ 1,287,332 $ 1,363,427 (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 2014 Annual Report . |
Earnings per share (Tables)
Earnings per share (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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, 2015 and 2014 . (in millions, except per share amounts) Three months ended Six months ended June 30, 2015 2014 2015 2014 Basic earnings per share Net income $ 6,290 $ 5,980 $ 12,204 $ 11,249 Less: Preferred stock dividends 380 268 704 495 Net income applicable to common equity 5,910 5,712 11,500 10,754 Less: Dividends and undistributed earnings allocated to participating securities 134 144 272 294 Net income applicable to common stockholders $ 5,776 $ 5,568 $ 11,228 $ 10,460 Total weighted-average basic shares outstanding 3,707.8 3,780.6 3,716.6 3,783.9 Net income per share $ 1.56 $ 1.47 $ 3.02 $ 2.76 Diluted earnings per share Net income applicable to common stockholders $ 5,776 $ 5,568 $ 11,228 $ 10,460 Total weighted-average basic shares outstanding 3,707.8 3,780.6 3,716.6 3,783.9 Add: Employee stock options, SARs and warrants (a) 35.8 31.9 33.9 34.2 Total weighted-average diluted shares outstanding (b) 3,743.6 3,812.5 3,750.5 3,818.1 Net income per share $ 1.54 $ 1.46 $ 2.99 $ 2.74 (a) Excluded from the computation of diluted EPS (due to the antidilutive effect) were options issued under employee benefit plans. The aggregate number of shares issuable upon the exercise of such options was not material for the three and six months ended June 30, 2015 ; and 1 million for each of the three and six months ended June 30, 2014 . (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 Comprehensi54
Accumulated Other Comprehensive Income/(Loss) (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [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) (in millions) Balance at April 1, 2015 $ 4,862 $ (157 ) $ (18 ) $ (2,257 ) $ 2,430 Net change (1,419 ) 3 80 8 (1,328 ) Balance at June 30, 2015 $ 3,443 $ (154 ) $ 62 $ (2,249 ) $ 1,102 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) (in millions) Balance at April 1, 2014 $ 3,792 $ (138 ) $ (80 ) $ (1,298 ) $ 2,276 Net change 1,075 12 68 7 1,162 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) (in millions) Balance at January 1, 2015 $ 4,773 $ (147 ) $ (95 ) $ (2,342 ) $ 2,189 Net change (1,330 ) (7 ) 157 93 (1,087 ) Balance at June 30, 2015 $ 3,443 $ (154 ) $ 62 $ (2,249 ) $ 1,102 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) (in millions) Balance at January 1, 2014 $ 2,798 $ (136 ) $ (139 ) $ (1,324 ) $ 1,199 Net change 2,069 10 127 33 2,239 Balance at June 30, 2014 $ 4,867 $ (126 ) $ (12 ) $ (1,291 ) $ 3,438 (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. |
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). 2015 2014 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 $ (2,343 ) $ 952 $ (1,391 ) $ 1,778 $ (695 ) $ 1,083 Reclassification adjustment for realized (gains)/losses included in net income (a) (44 ) 16 (28 ) (12 ) 4 (8 ) Net change (2,387 ) 968 (1,419 ) 1,766 (691 ) 1,075 Translation adjustments: Translation (b) 267 (117 ) 150 218 (79 ) 139 Hedges (b) (250 ) 103 (147 ) (208 ) 81 (127 ) Net change 17 (14 ) 3 10 2 12 Cash flow hedges: Net unrealized gains/(losses) arising during the period 120 (46 ) 74 143 (57 ) 86 Reclassification adjustment for realized (gains)/losses included in net income (c) 7 (1 ) 6 (29 ) 11 (18 ) Net change 127 (47 ) 80 114 (46 ) 68 Defined benefit pension and OPEB plans: Net gains/(losses) arising during the period 41 (15 ) 26 19 (8 ) 11 Reclassification adjustments included in net income (d) : Amortization of net loss 70 (26 ) 44 19 (7 ) 12 Prior service costs/(credits) (9 ) 4 (5 ) (12 ) 5 (7 ) Foreign exchange and other (33 ) (24 ) (57 ) (15 ) 6 (9 ) Net change 69 (61 ) 8 11 (4 ) 7 Total other comprehensive income/(loss) $ (2,174 ) $ 846 $ (1,328 ) $ 1,901 $ (739 ) $ 1,162 2015 2014 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 $ (2,118 ) $ 848 $ (1,270 ) $ 3,399 $ (1,304 ) $ 2,095 Reclassification adjustment for realized (gains)/losses included in (a) (96 ) 36 (60 ) (42 ) 16 (26 ) Net change (2,214 ) 884 (1,330 ) 3,357 (1,288 ) 2,069 Translation adjustments: Translation (b) (733 ) 261 (472 ) 372 (142 ) 230 Hedges (b) 743 (278 ) 465 (362 ) 142 (220 ) Net change 10 (17 ) (7 ) 10 — 10 Cash flow hedges: Net unrealized gains/(losses) arising during the period 71 (28 ) 43 215 (87 ) 128 Reclassification adjustment for realized (gains)/losses included in (c)(e) 182 (68 ) 114 (2 ) 1 (1 ) Net change 253 (96 ) 157 213 (86 ) 127 Defined benefit pension and OPEB plans: Net gains/(losses) arising during the period 101 (39 ) 62 88 (34 ) 54 Reclassification adjustments included in net income (d) : Amortization of net loss 141 (53 ) 88 37 (15 ) 22 Prior service costs/(credits) (18 ) 7 (11 ) (22 ) 9 (13 ) Foreign exchange and other — (46 ) (46 ) (19 ) (11 ) (30 ) Net change 224 (131 ) 93 84 (51 ) 33 Total other comprehensive income/(loss) $ (1,727 ) $ 640 $ (1,087 ) $ 3,664 $ (1,425 ) $ 2,239 (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/expense in the Consolidated statements of income. The amounts were not material for the periods presented. (c) The pretax amounts 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. (e) In the first quarter of 2015, the Firm reclassified approximately $150 million of net losses from AOCI to other income because the Firm determined that it is probable that the forecasted interest payment cash flows will not occur. For additional information, see Note 5. |
Regulatory capital (Tables)
Regulatory capital (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Banking and Thrift [Abstract] | |
Reconciliation of the Firm's regulatory capital, assets and risk-based capital ratios | The following tables present the regulatory capital, assets and risk-based capital ratios for JPMorgan Chase and its significant national bank subsidiaries under both Basel III Standardized Transitional and Basel III Advanced Transitional. JPMorgan Chase & Co. (e) Basel III Standardized Transitional Basel III Advanced Transitional (in millions, except ratios) Jun 30, Dec 31, Jun 30, Dec 31, Regulatory capital CET1 capital $ 169,769 $ 164,426 $ 169,769 $ 164,426 Tier 1 capital (a) 194,725 186,294 194,725 186,294 Total capital 228,390 221,225 218,811 210,684 Assets Risk-weighted 1,499,638 (f) 1,472,602 1,520,140 1,608,240 Adjusted average (b) 2,448,357 2,465,414 2,448,357 2,465,414 Capital ratios (c) CET1 11.3 % 11.2 % 11.2 % 10.2 % Tier 1 (a) 13.0 12.7 12.8 11.6 Total 15.2 15.0 14.4 13.1 Tier 1 leverage (d) 8.0 7.6 8.0 7.6 JPMorgan Chase Bank, N.A. (e) Basel III Standardized Transitional Basel III Advanced Transitional (in millions, except ratios) Jun 30, Dec 31, Jun 30, Dec 31, Regulatory capital CET1 capital $ 161,814 $ 156,567 $ 161,814 $ 156,567 Tier 1 capital (a) 161,966 156,891 161,966 156,891 Total capital 177,249 173,328 170,346 166,331 Assets Risk-weighted 1,274,043 (f) 1,230,358 1,275,783 1,330,175 Adjusted (b) 1,982,100 1,968,131 1,982,100 1,968,131 Capital ratios (c) CET1 12.7 % 12.7 % 12.7 % 11.8 % Tier 1 (a) 12.7 12.8 12.7 11.8 Total 13.9 14.1 13.4 12.5 Tier 1 leverage (d) 8.2 8.0 8.2 8.0 Chase Bank USA, N.A. (e) Basel III Standardized Transitional Basel III Advanced Transitional (in millions, except ratios) Jun 30, Dec 31, Jun 30, Dec 31, Regulatory capital CET1 capital $ 15,002 $ 14,556 $ 15,002 $ 14,556 Tier 1 capital (a) 15,002 14,556 15,002 14,556 Total capital 20,952 20,517 19,652 19,206 Assets Risk-weighted 101,754 (f) 103,468 156,286 157,565 Adjusted (b) 129,421 128,111 129,421 128,111 Capital ratios (c) CET1 14.7 % 14.1 % 9.6 % 9.2 % Tier 1 (a) 14.7 14.1 9.6 9.2 Total 20.6 19.8 12.6 12.2 Tier 1 leverage (d) 11.6 11.4 11.6 11.4 (a) At June 30, 2015 , trust preferred securities included in Basel III Tier 1 capital were $960 million and $150 million for JPMorgan Chase and JPMorgan Chase Bank, N.A., respectively. At June 30, 2015 , Chase Bank USA, N.A. had no trust preferred securities. (b) Adjusted average assets, for purposes of calculating the Tier 1 leverage ratio, includes total quarterly average assets adjusted for on-balance sheet assets that are subject to deduction from Tier 1 Capital predominantly comprising disallowed goodwill and other intangible assets. (c) For each risk-based capital ratio, the capital adequacy of the Firm and its national bank subsidiaries are evaluated against the Basel III approach, Standardized or Advanced, resulting in the lower ratio. (d) As the Tier 1 leverage ratio is not a risk-based measure of capital, the ratios presented in the table reflect the same calculation. (e) Asset and capital amounts for JPMorgan Chase ’s national banking subsidiaries reflect intercompany transactions; whereas the respective amounts for JPMorgan Chase reflect the elimination of intercompany transactions. (f) Effective January 1, 2015, the Basel III definition of the Standardized RWA became effective. Prior measures of Basel III Standardized RWA were calculated under Basel I rules. Note: Rating agencies allow measures of capital to be adjusted upward for deferred tax liabilities, which have resulted from both nontaxable business combinations and from tax-deductible goodwill. The Firm had deferred tax liabilities resulting from nontaxable business combinations totaling $117 million and $130 million at June 30, 2015 , and December 31, 2014 , respectively; and deferred tax liabilities resulting from tax-deductible goodwill of $2.8 billion and $2.7 billion at June 30, 2015 , and December 31, 2014 , respectively. Under the risk-based capital guidelines of the Federal Reserve, JPMorgan Chase is required to maintain minimum ratios of CET1 (beginning January 1, 2015), Tier 1 and total capital to risk-weighted assets, as well as a minimum leverage ratio (which is 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. National 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, 2015 . Minimum capital ratios (a) Well-capitalized ratios (a) Capital ratios CET1 4.5 % 6.5 % Tier 1 6.0 8.0 Total 8.0 10.0 Tier 1 leverage 4.0 5.0 (b) (a) As defined by the regulations issued by the Federal Reserve, OCC and FDIC. (b) 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. |
Off-Balance Sheet Lending-Rel56
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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, 2015 , and December 31, 2014 . 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. In addition, the Firm typically closes credit card lines when the borrower is 60 days or more past due. 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. Off–balance sheet lending-related financial instruments, guarantees and other commitments Contractual amount Carrying value (j) June 30, 2015 Dec 31, Jun 30, Dec 31, By remaining maturity (in millions) Expires in 1 year or less Expires after Expires after Expires after 5 years Total Total Lending-related Consumer, excluding credit card: Home equity – senior lien $ 1,826 $ 4,364 $ 996 $ 3,899 $ 11,085 $ 11,807 $ — $ — Home equity – junior lien 2,927 5,291 1,039 3,901 13,158 14,859 — — Prime mortgage (a) 13,526 — — — 13,526 8,579 — — Auto (b) 7,647 1,365 211 32 9,255 10,462 3 2 Business banking (b) 10,923 834 89 470 12,316 11,894 12 11 Student and other 27 5 — 445 477 552 — — Total consumer, excluding credit card 36,876 11,859 2,335 8,747 59,817 58,153 15 13 Credit card 523,717 — — — 523,717 525,963 — — Total consumer (c) 560,593 11,859 2,335 8,747 583,534 584,116 15 13 Wholesale: Other unfunded commitments to extend credit (b)(d) 58,701 85,922 110,091 7,722 262,436 272,676 327 374 Standby letters of credit and other financial guarantees (b)(d)(e) 20,104 30,071 32,968 2,281 85,424 89,874 751 788 Other letters of credit (b) 3,241 867 80 — 4,188 4,331 1 1 Total wholesale (f)(g) 82,046 116,860 143,139 10,003 352,048 366,881 1,079 1,163 Total lending-related $ 642,639 $ 128,719 $ 145,474 $ 18,750 $ 935,582 $ 950,997 $ 1,094 $ 1,176 Other guarantees and commitments Securities lending indemnification agreements and guarantees (h) $ 190,441 $ — $ — $ — $ 190,441 $ 171,059 $ — $ — Derivatives qualifying as guarantees 930 293 11,459 38,794 51,476 53,589 103 80 Unsettled reverse repurchase and securities borrowing agreements 49,684 — — — 49,684 40,993 — — Loan sale and securitization-related indemnifications: Mortgage repurchase liability NA NA NA NA NA NA 231 275 Loans sold with recourse NA NA NA NA 5,173 6,063 92 102 Other guarantees and commitments (i) 797 1,635 2,259 1,293 5,984 5,720 (107 ) (121 ) (a) Includes certain commitments to purchase loans from correspondents. (b) At June 30, 2015 , and December 31, 2014 , reflects the contractual amount net of risk participations totaling $239 million and $243 million , respectively, for other unfunded commitments to extend credit; $12.5 billion and $13.0 billion , respectively, for standby letters of credit and other financial guarantees; and $376 million and $469 million , respectively, for other letters of credit. In regulatory filings with the Federal Reserve these commitments are shown gross of risk participations. (c) Predominantly all consumer lending-related commitments are in the U.S. (d) At June 30, 2015 , and December 31, 2014 , included credit enhancements and bond and commercial paper liquidity commitments to U.S. states and municipalities, hospitals and other non-profit entities of $14.0 billion and $14.8 billion , respectively, within other unfunded commitments to extend credit; and $10.8 billion and $13.3 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, 2015 , and December 31, 2014 , included unissued standby letters of credit commitments of $44.9 billion and $45.6 billion , respectively. (f) At June 30, 2015 , and December 31, 2014 , the U.S. portion of the contractual amount of total wholesale lending-related commitments was 76% and 73% , respectively. (g) Effective January 1, 2015, the Firm no longer includes within its disclosure of wholesale lending-related commitments the unused amount of advised uncommitted lines of credit as it is within the Firm’s discretion whether or not to make a loan under these lines, and the Firm’s approval is generally required prior to funding. Prior period amounts have been revised to conform with the current period presentation. (h) At June 30, 2015 , and December 31, 2014 , collateral held by the Firm in support of securities lending indemnification agreements was $197.6 billion and $177.1 billion , respectively. Securities lending collateral comprises primarily cash and securities issued by governments that are members of the Organisation for Economic Co-operation and Development (“OECD”) and U.S. government agencies. (i) At June 30, 2015 , and December 31, 2014 , included unfunded commitments of $140 million and $147 million , respectively, to third-party private equity funds; and $1.1 billion and $961 million , at June 30, 2015 , and December 31, 2014 , respectively, to other equity investments. These commitments included $155 million and $150 million , respectively, related to investments that are generally fair valued at net asset value as discussed in Note 3. In addition, at June 30, 2015 , and December 31, 2014 , included letters of credit hedged by derivative transactions and managed on a market risk basis of $4.4 billion and $4.5 billion , respectively. (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, 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, 2015 , and December 31, 2014 . Standby letters of credit, other financial guarantees and other letters of credit June 30, 2015 December 31, 2014 (in millions) Standby letters of credit and other financial guarantees Other letters of credit Standby letters of credit and other financial guarantees Other letters of credit Investment-grade (a) $ 61,972 $ 3,534 $ 66,856 $ 3,476 Noninvestment-grade (a) 23,452 654 23,018 855 Total contractual amount $ 85,424 $ 4,188 $ 89,874 $ 4,331 Allowance for lending-related commitments $ 277 $ 1 $ 234 $ 1 Commitments with collateral 37,595 1,275 39,726 1,509 (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 Three months ended June 30, Six months ended June 30, (in millions) 2015 2014 2015 2014 Repurchase liability at beginning of period $ 252 $ 564 $ 275 $ 681 Net realized gains/(losses) (a) 7 8 17 19 (Benefit)/provision for repurchase (b) (28 ) (136 ) (61 ) (264 ) Repurchase liability at end of period $ 231 $ 436 $ 231 $ 436 (a) Presented net of third-party recoveries and include principal losses and accrued interest on repurchased loans, “make-whole” settlements, settlements with claimants, and certain related expense. Make-whole settlements were $2 million and $1 million for the three months ended June 30, 2015 and 2014 , respectively, and $4 million and $3 million for the six months ended June 30, 2015 and 2014 , respectively. (b) Included a provision related to new loan sales of $1 million for each of the three months ended June 30, 2015 and 2014 , and $2 million for each of the six months ended June 30, 2015 and 2014 . |
Business segments (Tables)
Business segments (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Segment Reporting [Abstract] | |
Segment results and reconciliation | Segment results and reconciliation (a) As of or for the three months ended June 30, (in millions, except ratios) Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset Management 2015 2014 2015 2014 2015 2014 2015 2014 Noninterest revenue $ 4,089 $ 4,468 $ 6,233 $ 6,519 $ 609 $ 577 $ 2,544 $ 2,380 Net interest income 6,926 7,050 2,490 2,746 1,130 1,154 631 602 Total net revenue 11,015 11,518 8,723 9,265 1,739 1,731 3,175 2,982 Provision for credit losses 702 852 50 (84 ) 182 (67 ) — 1 Noninterest expense 6,210 6,456 5,137 6,058 703 675 2,406 2,062 Income/(loss) before income tax expense/(benefit) 4,103 4,210 3,536 3,291 854 1,123 769 919 Income tax expense/(benefit) 1,570 1,714 1,195 1,160 329 446 318 350 Net income $ 2,533 $ 2,496 $ 2,341 $ 2,131 $ 525 $ 677 $ 451 $ 569 Average common equity $ 51,000 $ 51,000 $ 62,000 $ 61,000 $ 14,000 $ 14,000 $ 9,000 $ 9,000 Total assets 472,181 447,277 819,745 872,947 201,377 192,523 134,059 128,362 Return on common equity 19% 19% 14% 13% 14% 19% 19% 25% Overhead ratio 56 56 59 65 40 39 76 69 As of or for the three months ended June 30, (in millions, except ratios) Corporate Reconciling Items (b) Total 2015 2014 2015 2014 2015 2014 Noninterest revenue $ 100 $ 351 $ (447 ) $ (415 ) $ 13,128 $ 13,880 Net interest income (221 ) (510 ) (272 ) $ (244 ) 10,684 10,798 Total net revenue (121 ) (159 ) (719 ) $ (659 ) 23,812 24,678 Provision for credit losses 1 (10 ) — — 935 692 Noninterest expense 44 180 — — 14,500 15,431 Income/(loss) before income tax expense/(benefit) (166 ) (329 ) (719 ) (659 ) 8,377 8,555 Income tax expense/(benefit) (606 ) (436 ) (719 ) (659 ) 2,087 2,575 Net income $ 440 $ 107 $ — $ — $ 6,290 $ 5,980 Average common equity $ 77,738 $ 71,159 $ — $ — $ 213,738 $ 206,159 Total assets 822,237 878,886 NA NA 2,449,599 2,519,995 Return on common equity NM NM NM NM 11 % 11 % Overhead ratio NM NM NM NM 61 63 Segment results and reconciliation (a) As of or for the six months ended June 30, (in millions, except ratios) Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset Management 2015 2014 2015 2014 2015 2014 2015 2014 Noninterest revenue $ 7,825 $ 7,902 $ 13,307 $ 12,745 $ 1,245 $ 1,135 $ 4,928 $ 4,598 Net interest income 13,894 14,150 4,998 5,362 2,236 2,274 1,252 1,184 Total net revenue 21,719 22,052 18,305 18,107 3,481 3,409 6,180 5,782 Provision for credit losses 1,632 1,668 19 (35 ) 243 (62 ) 4 (8 ) Noninterest expense 12,400 12,893 10,794 11,662 1,412 1,361 4,581 4,137 Income/(loss) before income tax expense/(benefit) 7,687 7,491 7,492 6,480 1,826 2,110 1,595 1,653 Income tax expense/(benefit) 2,935 3,014 2,614 2,224 703 839 642 630 Net income $ 4,752 $ 4,477 $ 4,878 $ 4,256 $ 1,123 $ 1,271 $ 953 $ 1,023 Average common equity $ 51,000 $ 51,000 $ 62,000 $ 61,000 $ 14,000 $ 14,000 $ 9,000 $ 9,000 Total assets 472,181 447,277 819,745 872,947 201,377 192,523 134,059 128,362 Return on common equity 18% 17 % 15% 13 % 15% 18 % 21% 22 % Overhead ratio 57 58 59 64 41 40 74 72 As of or for the six months ended June 30, (in millions, except ratios) Corporate Reconciling Items (b) Total 2015 2014 2015 2014 2015 2014 Noninterest revenue $ 140 $ 875 $ (928 ) $ (827 ) $ 26,517 $ 26,428 Net interest income (474 ) (1,035 ) (545 ) (470 ) 21,361 21,465 Total net revenue (334 ) (160 ) (1,473 ) (1,297 ) 47,878 47,893 Provision for credit losses (4 ) (21 ) — — 1,894 1,542 Noninterest expense 196 14 — — 29,383 30,067 Income/(loss) before income tax expense/(benefit) (526 ) (153 ) (1,473 ) (1,297 ) 16,601 16,284 Income tax expense/(benefit) (1,024 ) (375 ) (1,473 ) (1,297 ) 4,397 5,035 Net income $ 498 $ 222 $ — $ — $ 12,204 $ 11,249 Average common equity $ 77,049 $ 68,989 $ — $ — $ 213,049 $ 203,989 Total assets 822,237 878,886 NA NA 2,449,599 2,519,995 Return on common equity NM NM NM NM 11% 11 % Overhead ratio NM NM NM NM 61 63 (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 an 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 - Adoptio
Basis of Presentation - Adoptions of New Accounting Guidance (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Increase in other income, adoption of accounting guidance | $ 224 | $ 446 | ||||
Increase in income tax expense, adoption of accounting guidance | $ 229 | $ 456 | ||||
Increase in the effective income tax rate | 2.00% | 2.00% | ||||
Income tax credits and adjustments | $ 381 | $ 384 | $ 758 | $ 763 | ||
Amortization of investments reported in income tax expense | 281 | $ 267 | 555 | $ 531 | ||
Carrying value of investments in affordable housing projects | 7,100 | 7,100 | $ 7,300 | |||
Commitments related to affordable housing investments | $ 1,700 | $ 1,700 | 1,800 | |||
Retained earnings | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Cumulative effect of change in accounting principle | $ 0 | $ (321) |
Business Changes and Developm59
Business Changes and Developments Preferred Stock Issuances (Details) - USD ($) $ / shares in Units, $ in Millions | Jul. 29, 2015 | Apr. 02, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2015 | Jun. 30, 2014 |
Class of Stock [Line Items] | ||||||
Trust preferred securities redeemed | $ 1,500 | |||||
Common stock, dividends, per share (in dollars per share) | $ 0.84 | $ 0.78 | ||||
Preferred stock | ||||||
Class of Stock [Line Items] | ||||||
Issuance of preferred stock | $ 3,400 | $ 4,855 | $ 7,305 | |||
Preferred stock | Subsequent event | ||||||
Class of Stock [Line Items] | ||||||
Issuance of preferred stock | $ 1,200 | |||||
Common stock | ||||||
Class of Stock [Line Items] | ||||||
Common stock, dividends, per share (in dollars per share) | $ 0.44 | $ 0.40 |
Fair Value Measurement - Recurr
Fair Value Measurement - Recurring Basis (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | $ 958,412 | $ 1,328,428 | ||||
Amounts netted on the Consolidated balance sheets | (890,961) | (1,249,453) | ||||
Derivative receivables balance | 67,451 | 78,975 | ||||
Trading assets | 377,870 | 398,988 | ||||
Available-for-sale securities | 266,201 | 298,752 | ||||
Mortgage servicing rights | 7,571 | $ 6,641 | 7,436 | $ 8,347 | $ 8,552 | $ 9,614 |
Gross derivative payables | 945,997 | 1,310,773 | ||||
Derivative, netting adjustments | (886,971) | (1,239,657) | ||||
Derivative payables | 59,026 | 71,116 | ||||
Fair value assets and liabilities measured on recurring basis - supplemental data | ||||||
Reduction in level 3 derivative receivable and derivative payable balances | 1,900 | 2,500 | ||||
Costs of the private equity investment portfolio | 4,000 | 6,000 | ||||
Alternative investments, net asset value, fair value | 1,600 | 1,500 | ||||
Interest rate contracts | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 656,663 | 950,257 | ||||
Amounts netted on the Consolidated balance sheets | (625,340) | (916,532) | ||||
Derivative receivables balance | 31,323 | 33,725 | ||||
Gross derivative payables | 621,857 | 918,379 | ||||
Derivative, netting adjustments | (607,977) | (900,634) | ||||
Derivative payables | 13,880 | 17,745 | ||||
Credit derivatives | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 54,577 | 76,842 | ||||
Amounts netted on the Consolidated balance sheets | (53,256) | (75,004) | ||||
Derivative receivables balance | 1,321 | 1,838 | ||||
Gross derivative payables | 53,830 | 75,895 | ||||
Derivative, netting adjustments | (52,568) | (74,302) | ||||
Derivative payables | 1,262 | 1,593 | ||||
Foreign exchange contracts | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 174,850 | 215,187 | ||||
Amounts netted on the Consolidated balance sheets | (156,510) | (193,934) | ||||
Derivative receivables balance | 18,340 | 21,253 | ||||
Gross derivative payables | 189,653 | 224,614 | ||||
Derivative, netting adjustments | (171,197) | (201,644) | ||||
Derivative payables | 18,456 | 22,970 | ||||
Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 42,390 | 42,489 | ||||
Amounts netted on the Consolidated balance sheets | (36,332) | (34,312) | ||||
Derivative receivables balance | 6,058 | 8,177 | ||||
Gross derivative payables | 47,978 | 46,262 | ||||
Derivative, netting adjustments | (36,439) | (34,522) | ||||
Derivative payables | 11,539 | 11,740 | ||||
Commodity contracts | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 29,932 | 43,653 | ||||
Amounts netted on the Consolidated balance sheets | (19,523) | (29,671) | ||||
Derivative receivables balance | 10,409 | 13,982 | ||||
Gross derivative payables | 32,679 | 45,623 | ||||
Derivative, netting adjustments | (18,790) | (28,555) | ||||
Derivative payables | 13,889 | 17,068 | ||||
Trading assets | ||||||
Fair value assets and liabilities measured on recurring basis - supplemental data | ||||||
Alternative investments, net asset value, fair value | 68 | 124 | ||||
Other assets | ||||||
Fair value assets and liabilities measured on recurring basis - supplemental data | ||||||
Alternative investments, net asset value, fair value | 1,500 | 1,400 | ||||
US government-sponsored and enterprises obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 45,500 | 59,300 | ||||
Residential mortgage | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 13,700 | 17,000 | ||||
Commercial loan | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 4,600 | 5,800 | ||||
Residential conforming mortgage intended for sale to government agency | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 6,000 | 7,700 | ||||
Reverse mortgage | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 2,800 | 3,400 | ||||
Fair Value Hierarchy, Previous Classification, Level 2 | ||||||
Fair value assets and liabilities measured on recurring basis - supplemental data | ||||||
Alternative investments, net asset value, fair value | 337 | |||||
Fair Value Hierarchy, Previous Classification, Level 3 | ||||||
Fair value assets and liabilities measured on recurring basis - supplemental data | ||||||
Alternative investments, net asset value, fair value | 1,200 | |||||
Recurring | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Federal funds sold and securities purchased under resale agreements | 28,670 | 28,585 | ||||
Securities borrowed | 495 | 992 | ||||
Trading assets | 310,351 | 319,889 | ||||
Amounts netted on the Consolidated balance sheets | (890,961) | (1,249,453) | ||||
Derivative receivables balance | 67,451 | 78,975 | ||||
Trading assets | 377,802 | 398,864 | ||||
Available-for-sale securities | 266,201 | 298,752 | ||||
Loans, at fair value | 2,431 | 2,611 | ||||
Mortgage servicing rights | 7,571 | 7,436 | ||||
Total assets measured at fair value on a recurring basis | 690,278 | 747,731 | ||||
Deposits | 11,485 | 8,807 | ||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 3,586 | 2,979 | ||||
Other borrowed funds | 13,987 | 14,739 | ||||
Trading liabilities excluding derivatives | 80,396 | 81,699 | ||||
Derivative, netting adjustments | (886,971) | (1,239,657) | ||||
Derivative payables | 59,026 | 71,116 | ||||
Trading liabilities | 139,422 | 152,815 | ||||
Accounts payable and other liabilities | 23 | 26 | ||||
Beneficial interests issued by consolidated VIEs, at fair value | 1,330 | 2,162 | ||||
Long-term debt | 31,316 | 30,226 | ||||
Total liabilities measured at fair value on a recurring basis | 201,149 | 211,754 | ||||
Recurring | Interest rate contracts | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Amounts netted on the Consolidated balance sheets | (625,340) | (916,532) | ||||
Derivative receivables balance | 31,323 | 33,725 | ||||
Derivative, netting adjustments | (607,977) | (900,634) | ||||
Derivative payables | 13,880 | 17,745 | ||||
Recurring | Credit derivatives | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Amounts netted on the Consolidated balance sheets | (53,256) | (75,004) | ||||
Derivative receivables balance | 1,321 | 1,838 | ||||
Derivative, netting adjustments | (52,568) | (74,302) | ||||
Derivative payables | 1,262 | 1,593 | ||||
Recurring | Foreign exchange contracts | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Amounts netted on the Consolidated balance sheets | (156,510) | (193,934) | ||||
Derivative receivables balance | 18,340 | 21,253 | ||||
Derivative, netting adjustments | (171,197) | (201,644) | ||||
Derivative payables | 18,456 | 22,970 | ||||
Recurring | Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Amounts netted on the Consolidated balance sheets | (36,332) | (34,312) | ||||
Derivative receivables balance | 6,058 | 8,177 | ||||
Derivative, netting adjustments | (36,439) | (34,522) | ||||
Derivative payables | 11,539 | 11,740 | ||||
Recurring | Commodity contracts | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Amounts netted on the Consolidated balance sheets | (19,523) | (29,671) | ||||
Derivative receivables balance | 10,409 | 13,982 | ||||
Derivative, netting adjustments | (18,790) | (28,555) | ||||
Derivative payables | 13,889 | 17,068 | ||||
Recurring | Private equity investments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 2,295 | 5,497 | ||||
Recurring | All other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 4,813 | 4,994 | ||||
Recurring | Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 8,603 | 11,909 | ||||
Recurring | US government-sponsored and enterprises obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 67,400 | 84,100 | ||||
Recurring | Total debt instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 185,611 | 199,650 | ||||
Recurring | Total mortgage-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 32,193 | 36,117 | ||||
Available-for-sale securities | 119,095 | 137,322 | ||||
Recurring | Mortgage-backed securities, U.S. government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 28,799 | 32,840 | ||||
Available-for-sale securities | 57,315 | 65,319 | ||||
Recurring | Mortgage-backed securities, Residential - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 2,083 | 2,044 | ||||
Available-for-sale securities | 39,573 | 50,895 | ||||
Recurring | Mortgage-backed securities, Commercial - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 1,311 | 1,233 | ||||
Available-for-sale securities | 22,207 | 21,108 | ||||
Recurring | U.S. Treasury and government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 25,815 | 26,276 | ||||
Available-for-sale securities | 11,590 | 13,645 | ||||
Recurring | Obligations of U.S. states and municipalities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 8,011 | 10,571 | ||||
Available-for-sale securities | 31,424 | 30,068 | ||||
Recurring | Certificates of deposit | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 429 | 1,103 | ||||
Recurring | Certificates of deposit, bankers’ acceptances and commercial paper | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 947 | 1,429 | ||||
Recurring | Non-U.S. government debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 54,627 | 53,450 | ||||
Available-for-sale securities | 42,792 | 52,743 | ||||
Recurring | Corporate debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 25,798 | 31,088 | ||||
Available-for-sale securities | 15,822 | 18,532 | ||||
Recurring | Loans | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 33,982 | 36,367 | ||||
Recurring | Asset-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 4,238 | 4,352 | ||||
Recurring | Asset-backed securities, Collateralized loan obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 31,372 | 30,194 | ||||
Recurring | Asset-backed securities, other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 10,956 | 12,615 | ||||
Recurring | Equity securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 108,586 | 105,945 | ||||
Available-for-sale securities | 2,721 | 2,530 | ||||
Recurring | Physical commodities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 4,899 | 4,482 | ||||
Recurring | Other debt and equity instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 11,255 | 9,812 | ||||
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 | 156,011 | 151,313 | ||||
Gross derivative receivables | 1,541 | 1,478 | ||||
Trading assets | 157,552 | 152,791 | ||||
Available-for-sale securities | 37,813 | 40,195 | ||||
Loans, at fair value | 0 | 0 | ||||
Mortgage servicing rights | 0 | 0 | ||||
Total assets measured at fair value on a recurring basis | 199,457 | 197,652 | ||||
Deposits | 0 | 0 | ||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | 0 | ||||
Other borrowed funds | 0 | 0 | ||||
Trading liabilities excluding derivatives | 63,033 | 62,914 | ||||
Gross derivative payables | 1,370 | 1,386 | ||||
Trading liabilities | 64,403 | 64,300 | ||||
Accounts payable and other liabilities | 0 | 0 | ||||
Beneficial interests issued by consolidated VIEs, at fair value | 0 | 0 | ||||
Long-term debt | 0 | 0 | ||||
Total liabilities measured at fair value on a recurring basis | 64,403 | 64,300 | ||||
Recurring | Level 1 | Interest rate contracts | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 592 | 473 | ||||
Gross derivative payables | 509 | 499 | ||||
Recurring | Level 1 | Credit derivatives | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 0 | 0 | ||||
Gross derivative payables | 0 | 0 | ||||
Recurring | Level 1 | Foreign exchange contracts | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 758 | 758 | ||||
Gross derivative payables | 759 | 746 | ||||
Recurring | Level 1 | Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 0 | 0 | ||||
Gross derivative payables | 0 | 0 | ||||
Recurring | Level 1 | Commodity contracts | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 191 | 247 | ||||
Gross derivative payables | 102 | 141 | ||||
Recurring | Level 1 | Private equity investments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 144 | 648 | ||||
Recurring | Level 1 | All other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 3,948 | 4,018 | ||||
Recurring | Level 1 | Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 4,092 | 4,666 | ||||
Recurring | Level 1 | Total debt instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 44,469 | 43,684 | ||||
Recurring | Level 1 | Total mortgage-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 5 | 14 | ||||
Available-for-sale securities | 0 | 0 | ||||
Recurring | Level 1 | Mortgage-backed securities, U.S. government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 5 | 14 | ||||
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 | U.S. Treasury and government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 19,151 | 17,816 | ||||
Available-for-sale securities | 11,544 | 13,591 | ||||
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 | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
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 | Non-U.S. government debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 25,313 | 25,854 | ||||
Available-for-sale securities | 23,548 | 24,074 | ||||
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 | Equity securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 107,828 | 104,890 | ||||
Available-for-sale securities | 2,721 | 2,530 | ||||
Recurring | Level 1 | Physical commodities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 3,714 | 2,739 | ||||
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 2 | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Federal funds sold and securities purchased under resale agreements | 28,670 | 28,585 | ||||
Securities borrowed | 495 | 992 | ||||
Trading assets | 138,399 | 146,087 | ||||
Gross derivative receivables | 945,743 | 1,314,385 | ||||
Trading assets | 1,084,142 | 1,460,472 | ||||
Available-for-sale securities | 227,513 | 257,520 | ||||
Loans, at fair value | 136 | 70 | ||||
Mortgage servicing rights | 0 | 0 | ||||
Total assets measured at fair value on a recurring basis | 1,341,146 | 1,750,280 | ||||
Deposits | 7,957 | 5,948 | ||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 3,586 | 2,979 | ||||
Other borrowed funds | 12,726 | 13,286 | ||||
Trading liabilities excluding derivatives | 17,291 | 18,713 | ||||
Gross derivative payables | 932,753 | 1,294,761 | ||||
Trading liabilities | 950,044 | 1,313,474 | ||||
Accounts payable and other liabilities | 0 | 0 | ||||
Beneficial interests issued by consolidated VIEs, at fair value | 190 | 1,016 | ||||
Long-term debt | 18,727 | 18,349 | ||||
Total liabilities measured at fair value on a recurring basis | 993,230 | 1,355,052 | ||||
Recurring | Level 2 | Interest rate contracts | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 652,204 | 945,635 | ||||
Gross derivative payables | 618,340 | 914,357 | ||||
Recurring | Level 2 | Credit derivatives | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 51,926 | 73,853 | ||||
Gross derivative payables | 51,611 | 73,095 | ||||
Recurring | Level 2 | Foreign exchange contracts | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 171,741 | 212,153 | ||||
Gross derivative payables | 186,948 | 221,066 | ||||
Recurring | Level 2 | Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 40,618 | 39,937 | ||||
Gross derivative payables | 44,358 | 41,925 | ||||
Recurring | Level 2 | Commodity contracts | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 29,254 | 42,807 | ||||
Gross derivative payables | 31,496 | 44,318 | ||||
Recurring | Level 2 | Private equity investments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 164 | 2,624 | ||||
Recurring | Level 2 | All other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 26 | 17 | ||||
Recurring | Level 2 | Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 190 | 2,641 | ||||
Recurring | Level 2 | Total debt instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 126,480 | 134,960 | ||||
Recurring | Level 2 | Total mortgage-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 31,026 | 34,212 | ||||
Available-for-sale securities | 119,082 | 137,193 | ||||
Recurring | Level 2 | Mortgage-backed securities, U.S. government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 27,893 | 31,904 | ||||
Available-for-sale securities | 57,315 | 65,319 | ||||
Recurring | Level 2 | Mortgage-backed securities, Residential - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 1,960 | 1,381 | ||||
Available-for-sale securities | 39,560 | 50,865 | ||||
Recurring | Level 2 | Mortgage-backed securities, Commercial - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 1,173 | 927 | ||||
Available-for-sale securities | 22,207 | 21,009 | ||||
Recurring | Level 2 | U.S. Treasury and government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 6,664 | 8,460 | ||||
Available-for-sale securities | 46 | 54 | ||||
Recurring | Level 2 | Obligations of U.S. states and municipalities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 6,764 | 9,298 | ||||
Available-for-sale securities | 31,424 | 30,068 | ||||
Recurring | Level 2 | Certificates of deposit | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 429 | 1,103 | ||||
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 | 947 | 1,429 | ||||
Recurring | Level 2 | Non-U.S. government debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 29,106 | 27,294 | ||||
Available-for-sale securities | 19,244 | 28,669 | ||||
Recurring | Level 2 | Corporate debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 24,855 | 28,099 | ||||
Available-for-sale securities | 15,822 | 18,532 | ||||
Recurring | Level 2 | Loans | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 24,419 | 23,080 | ||||
Recurring | Level 2 | Asset-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 2,699 | 3,088 | ||||
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 | 30,600 | 29,402 | ||||
Recurring | Level 2 | Asset-backed securities, other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 10,866 | 12,499 | ||||
Recurring | Level 2 | Equity securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 448 | 624 | ||||
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 | 1,185 | 1,741 | ||||
Recurring | Level 2 | Other debt and equity instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 10,286 | 8,762 | ||||
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 | 15,941 | 22,489 | ||||
Gross derivative receivables | 11,128 | 12,565 | ||||
Trading assets | 27,069 | 35,054 | ||||
Available-for-sale securities | 875 | 1,037 | ||||
Loans, at fair value | 2,295 | 2,541 | ||||
Mortgage servicing rights | 7,571 | 7,436 | ||||
Total assets measured at fair value on a recurring basis | 40,636 | 49,252 | ||||
Deposits | 3,528 | 2,859 | ||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | 0 | ||||
Other borrowed funds | 1,261 | 1,453 | ||||
Trading liabilities excluding derivatives | 72 | 72 | ||||
Gross derivative payables | 11,874 | 14,626 | ||||
Trading liabilities | 11,946 | 14,698 | ||||
Accounts payable and other liabilities | 23 | 26 | ||||
Beneficial interests issued by consolidated VIEs, at fair value | 1,140 | 1,146 | ||||
Long-term debt | 12,589 | 11,877 | ||||
Total liabilities measured at fair value on a recurring basis | 30,487 | 32,059 | ||||
Recurring | Level 3 | Interest rate contracts | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 3,867 | 4,149 | ||||
Gross derivative payables | 3,008 | 3,523 | ||||
Recurring | Level 3 | Credit derivatives | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 2,651 | 2,989 | ||||
Gross derivative payables | 2,219 | 2,800 | ||||
Recurring | Level 3 | Foreign exchange contracts | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 2,351 | 2,276 | ||||
Gross derivative payables | 1,946 | 2,802 | ||||
Recurring | Level 3 | Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 1,772 | 2,552 | ||||
Gross derivative payables | 3,620 | 4,337 | ||||
Recurring | Level 3 | Commodity contracts | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 487 | 599 | ||||
Gross derivative payables | 1,081 | 1,164 | ||||
Recurring | Level 3 | Private equity investments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 1,987 | 2,225 | ||||
Recurring | Level 3 | All other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 839 | 959 | ||||
Recurring | Level 3 | Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 2,826 | 3,184 | ||||
Recurring | Level 3 | Total debt instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 14,662 | 21,006 | ||||
Recurring | Level 3 | Total mortgage-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 1,162 | 1,891 | ||||
Available-for-sale securities | 13 | 129 | ||||
Recurring | Level 3 | Mortgage-backed securities, U.S. government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 901 | 922 | ||||
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 | 123 | 663 | ||||
Available-for-sale securities | 13 | 30 | ||||
Recurring | Level 3 | Mortgage-backed securities, Commercial - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 138 | 306 | ||||
Available-for-sale securities | $ 0 | 99 | ||||
Recurring | Level 3 | U.S. Treasury and government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 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 | 1,247 | 1,273 | ||||
Available-for-sale securities | 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 | 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 | Non-U.S. government debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 208 | 302 | ||||
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 | 943 | 2,989 | ||||
Available-for-sale securities | 0 | 0 | ||||
Recurring | Level 3 | Loans | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 9,563 | 13,287 | ||||
Recurring | Level 3 | Asset-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 1,539 | 1,264 | ||||
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 | 772 | 792 | ||||
Recurring | Level 3 | Asset-backed securities, other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 90 | 116 | ||||
Recurring | Level 3 | Equity securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 310 | 431 | ||||
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 | 0 | 2 | ||||
Recurring | Level 3 | Other debt and equity instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 969 | 1,050 | ||||
Recurring, excluding amounts measured at NAV | Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | $ 7,108 | $ 10,491 |
Fair Value Measurement - Transf
Fair Value Measurement - Transfers (Details) - USD ($) $ in Billions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Derivative liability | Equity contracts | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liabilities, level 3 to level 2 transfers | $ 2.7 | $ 2.9 | ||
Corporate debt securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, level 3 to level 2 transfers | $ 1.9 | $ 2 | ||
Loans | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, level 3 to level 2 transfers | $ 1.3 | $ 1.9 | ||
Derivative asset | Equity contracts | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, level 3 to level 2 transfers | $ 3 | $ 3.2 |
Fair Value Measurement - Level
Fair Value Measurement - Level 3 Inputs (Details) | Jun. 30, 2015USD ($)$ / bbl | Mar. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Jun. 30, 2014USD ($) | Mar. 31, 2014USD ($) | Dec. 31, 2013USD ($) |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | $ (746,000,000) | $ (1,848,000,000) | $ (2,061,000,000) | $ (1,855,000,000) | $ (66,000,000) | $ 326,000,000 |
Interest rate contracts | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | $ 859,000,000 | 650,000,000 | 626,000,000 | 1,533,000,000 | 2,090,000,000 | 2,379,000,000 |
Interest rate contracts | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Interest rate correlation | (54.00%) | |||||
Interest rate spread volatility | 4.00% | |||||
Interest rate contracts | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Interest rate correlation | 99.00% | |||||
Interest rate spread volatility | 26.00% | |||||
Credit derivatives | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | $ 432,000,000 | 275,000,000 | 189,000,000 | 134,000,000 | 244,000,000 | 95,000,000 |
Credit derivatives | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Credit correlation | 40.00% | |||||
Credit derivatives | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Credit correlation | 90.00% | |||||
Foreign exchange contracts | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | $ 405,000,000 | 707,000,000 | (526,000,000) | (1,194,000,000) | (1,282,000,000) | (1,200,000,000) |
Foreign exchange contracts | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Foreign exchange correlation | 0.00% | |||||
Foreign exchange contracts | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Foreign exchange correlation | 60.00% | |||||
Equity | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | $ (1,848,000,000) | (2,745,000,000) | (1,785,000,000) | (2,206,000,000) | (1,060,000,000) | (1,063,000,000) |
Equity | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Equity volatility | 20.00% | |||||
Equity | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Equity volatility | 65.00% | |||||
Commodity contracts | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | $ (594,000,000) | $ (735,000,000) | (565,000,000) | $ (122,000,000) | $ (58,000,000) | $ 115,000,000 |
Commodity contracts | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Forward commodity price | $ / bbl | 50 | |||||
Commodity contracts | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Forward commodity price | $ / bbl | 90 | |||||
Long-term debt, other borrowed funds, and deposits | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Credit correlation | 40.00% | |||||
Long-term debt, other borrowed funds, and deposits | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Credit correlation | 90.00% | |||||
Long-term debt, other borrowed funds, and deposits | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Interest rate correlation | (54.00%) | |||||
Interest rate spread volatility | 4.00% | |||||
Foreign exchange correlation | 0.00% | |||||
Equity correlation | (50.00%) | |||||
Long-term debt, other borrowed funds, and deposits | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Interest rate correlation | 99.00% | |||||
Interest rate spread volatility | 26.00% | |||||
Foreign exchange correlation | 60.00% | |||||
Equity correlation | 80.00% | |||||
Residential mortgage-backed securities and loans | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Discount rate | 3.00% | |||||
Prepayment rate | 0.00% | |||||
Conditional default rate | 0.00% | |||||
Loss severity | 0.00% | |||||
Residential mortgage-backed securities and loans | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Discount rate | 45.00% | |||||
Prepayment rate | 16.00% | |||||
Conditional default rate | 100.00% | |||||
Loss severity | 100.00% | |||||
Residential mortgage-backed securities and loans | Discounted cash flows | Weighted Average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Discount rate | 6.00% | |||||
Prepayment rate | 6.00% | |||||
Conditional default rate | 13.00% | |||||
Loss severity | 28.00% | |||||
Commercial mortgage-backed securities and loans | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Discount rate | 1.00% | |||||
Conditional default rate | 0.00% | |||||
Commercial mortgage-backed securities and loans | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Discount rate | 25.00% | |||||
Conditional default rate | 94.00% | |||||
Loss severity | 40.00% | |||||
Commercial mortgage-backed securities and loans | Discounted cash flows | Weighted Average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Discount rate | 4.00% | |||||
Conditional default rate | 8.00% | |||||
Loss severity | 40.00% | |||||
Corporate debt securities, obligations of U.S. states and municipalities, and other | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Discount rate | 1.00% | |||||
Credit spread | 0.60% | |||||
Corporate debt securities, obligations of U.S. states and municipalities, and other | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Discount rate | 18.00% | |||||
Credit spread | 2.70% | |||||
Corporate debt securities, obligations of U.S. states and municipalities, and other | Discounted cash flows | Weighted Average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Discount rate | 5.00% | |||||
Credit spread | 2.31% | |||||
Corporate debt securities, obligations of U.S. states and municipalities, and other | Market comparables | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Price | $ 0 | |||||
Corporate debt securities, obligations of U.S. states and municipalities, and other | Market comparables | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Price | 129 | |||||
Corporate debt securities, obligations of U.S. states and municipalities, and other | Market comparables | Weighted Average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Price | $ 92 | |||||
Asset-backed securities, Collateralized loan obligations | Discounted cash flows | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Prepayment rate | 20.00% | |||||
Conditional default rate | 2.00% | |||||
Loss severity | 40.00% | |||||
Asset-backed securities, Collateralized loan obligations | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Credit spread | 2.89% | |||||
Asset-backed securities, Collateralized loan obligations | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Credit spread | 3.99% | |||||
Asset-backed securities, Collateralized loan obligations | Discounted cash flows | Weighted Average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Prepayment rate | 20.00% | |||||
Conditional default rate | 2.00% | |||||
Loss severity | 40.00% | |||||
Credit spread | 3.05% | |||||
Asset-backed securities, Collateralized loan obligations | Market comparables | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Price | $ 0 | |||||
Asset-backed securities, Collateralized loan obligations | Market comparables | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Price | 99 | |||||
Asset-backed securities, Collateralized loan obligations | Market comparables | Weighted Average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Price | $ 70 | |||||
Private equity | Private equity direct investments | Market comparables | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Liquidity adjustment | 0.00% | |||||
EBITDA multiple | 6.7 | |||||
Private equity | Private equity direct investments | Market comparables | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Liquidity adjustment | 17.00% | |||||
EBITDA multiple | 9.9 | |||||
Private equity | Private equity direct investments | Market comparables | Weighted Average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Liquidity adjustment | 8.00% | |||||
EBITDA multiple | 8.3 | |||||
Recurring | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Liability fair value | $ 201,149,000,000 | 211,754,000,000 | ||||
Level 3 Analysis - Supplemental Data: | ||||||
Trading Securities | 310,351,000,000 | 319,889,000,000 | ||||
Trading liabilities | 139,422,000,000 | 152,815,000,000 | ||||
Recurring | Level 3 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Liability fair value | 30,487,000,000 | 32,059,000,000 | ||||
Level 3 Analysis - Supplemental Data: | ||||||
Trading Securities | 15,941,000,000 | 22,489,000,000 | ||||
Trading liabilities | 11,946,000,000 | $ 14,698,000,000 | ||||
Recurring | Level 3 | Interest rate contracts | Option pricing | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | 859,000,000 | |||||
Recurring | Level 3 | Credit derivatives | Discounted cash flows | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | 432,000,000 | |||||
Recurring | Level 3 | Foreign exchange contracts | Option pricing | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | 405,000,000 | |||||
Recurring | Level 3 | Equity | Option pricing | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | (1,848,000,000) | |||||
Recurring | Level 3 | Commodity contracts | Discounted cash flows | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | (594,000,000) | |||||
Recurring | Level 3 | Long-term debt, other borrowed funds, and deposits | Discounted cash flows | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Liability fair value | 1,717,000,000 | |||||
Recurring | Level 3 | Long-term debt, other borrowed funds, and deposits | Option pricing | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Liability fair value | 15,661,000,000 | |||||
Recurring | Level 3 | Credit derivatives with underlying mortgage risk | ||||||
Level 3 Analysis - Supplemental Data: | ||||||
Trading liabilities | 396,000,000 | |||||
Recurring | Level 3 | Credit derivatives with underlying asset-backed securities risk | ||||||
Level 3 Analysis - Supplemental Data: | ||||||
Trading liabilities | 569,000,000 | |||||
Recurring | Level 3 | Residential mortgage-backed securities and loans | Discounted cash flows | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset fair value | 6,287,000,000 | |||||
Recurring | Level 3 | Commercial mortgage-backed securities and loans | Discounted cash flows | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset fair value | 4,136,000,000 | |||||
Recurring | Level 3 | Corporate debt securities, obligations of U.S. states and municipalities, and other | Discounted cash flows | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset fair value | 3,956,000,000 | |||||
Recurring | Level 3 | Corporate debt securities, obligations of U.S. states and municipalities, and other | Market comparables | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset fair value | 4,652,000,000 | |||||
Recurring | Level 3 | Asset-backed securities, Collateralized loan obligations | Discounted cash flows | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset fair value | 772,000,000 | |||||
Recurring | Level 3 | Asset-backed securities, Collateralized loan obligations | Market comparables | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset fair value | 146,000,000 | |||||
Recurring | Level 3 | Mortgage servicing rights | Discounted cash flows | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset fair value | 7,571,000,000 | |||||
Recurring | Level 3 | Private equity | Private equity direct investments | Market comparables | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset fair value | 1,987,000,000 | |||||
Recurring | Level 3 | Credit derivatives with underlying mortgage risk | ||||||
Level 3 Analysis - Supplemental Data: | ||||||
Trading Securities | 450,000,000 | |||||
Recurring | Level 3 | Credit derivatives with underlying asset-backed securities risk | ||||||
Level 3 Analysis - Supplemental Data: | ||||||
Trading Securities | $ 617,000,000 |
Fair Value Measurement - Change
Fair Value Measurement - Changes in Level 3 Recurring Measurements (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Net derivative receivables: | |||||
Beginning balance | $ (1,848,000,000) | $ (66,000,000) | $ (2,061,000,000) | $ 326,000,000 | |
Total realized/unrealized gains/(losses) | 1,416,000,000 | (426,000,000) | 1,946,000,000 | (799,000,000) | |
Purchases | 358,000,000 | 304,000,000 | 889,000,000 | 1,273,000,000 | |
Sales | (476,000,000) | (634,000,000) | (845,000,000) | (1,726,000,000) | |
Settlements | (38,000,000) | (345,000,000) | (526,000,000) | (345,000,000) | |
Transfers into and/or out of level 3 | (158,000,000) | (688,000,000) | (149,000,000) | (584,000,000) | |
Ending balance | (746,000,000) | (1,855,000,000) | (746,000,000) | (1,855,000,000) | |
Change in unrealized gains/(losses) related to financial instruments held | $ 1,377,000,000 | (469,000,000) | $ 1,323,000,000 | (980,000,000) | |
Level 3 Rollforward Supplemental Data [Abstract] | |||||
Level 3 liabilities as a percentage of total firm liabilities at fair value | 15.00% | 15.00% | 15.00% | ||
Deposits | |||||
Liabilities | |||||
Beginning balance | $ 3,340,000,000 | 2,386,000,000 | $ 2,859,000,000 | 2,255,000,000 | |
Total realized/unrealized gains/(losses) | (156,000,000) | 74,000,000 | (64,000,000) | 111,000,000 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 673,000,000 | 519,000,000 | 1,448,000,000 | 809,000,000 | |
Settlements | (30,000,000) | (24,000,000) | (145,000,000) | (66,000,000) | |
Transfers into and/or out of level 3 | (299,000,000) | (117,000,000) | (570,000,000) | (271,000,000) | |
Ending balance | 3,528,000,000 | 2,838,000,000 | 3,528,000,000 | 2,838,000,000 | |
Change in unrealized gains(losses) related to financials instruments held | (139,000,000) | 63,000,000 | 7,000,000 | 98,000,000 | |
Other borrowed funds | |||||
Liabilities | |||||
Beginning balance | 1,116,000,000 | 1,535,000,000 | 1,453,000,000 | 2,074,000,000 | |
Total realized/unrealized gains/(losses) | (4,000,000) | (132,000,000) | (123,000,000) | (93,000,000) | |
Purchases | 45,000,000 | 0 | 45,000,000 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 1,274,000,000 | 1,343,000,000 | 2,322,000,000 | 2,676,000,000 | |
Settlements | (1,161,000,000) | (1,380,000,000) | (2,142,000,000) | (3,487,000,000) | |
Transfers into and/or out of level 3 | (9,000,000) | 172,000,000 | (294,000,000) | 368,000,000 | |
Ending balance | 1,261,000,000 | 1,538,000,000 | 1,261,000,000 | 1,538,000,000 | |
Change in unrealized gains(losses) related to financials instruments held | 38,000,000 | (30,000,000) | (122,000,000) | 84,000,000 | |
Total debt and equity instruments | |||||
Liabilities | |||||
Beginning balance | 82,000,000 | 101,000,000 | 72,000,000 | 113,000,000 | |
Total realized/unrealized gains/(losses) | 2,000,000 | (4,000,000) | 5,000,000 | (4,000,000) | |
Purchases | (23,000,000) | (46,000,000) | (131,000,000) | (262,000,000) | |
Sales | 21,000,000 | 71,000,000 | 147,000,000 | 279,000,000 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | (5,000,000) | (4,000,000) | (14,000,000) | (8,000,000) | |
Transfers into and/or out of level 3 | (5,000,000) | (38,000,000) | (7,000,000) | (38,000,000) | |
Ending balance | 72,000,000 | 80,000,000 | 72,000,000 | 80,000,000 | |
Change in unrealized gains(losses) related to financials instruments held | 2,000,000 | 1,000,000 | 8,000,000 | 1,000,000 | |
Accounts payable and other liabilities | |||||
Liabilities | |||||
Beginning balance | 23,000,000 | 0 | 26,000,000 | 0 | |
Total realized/unrealized gains/(losses) | 0 | 27,000,000 | 0 | 27,000,000 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | 0 | 0 | (3,000,000) | 0 | |
Transfers into and/or out of level 3 | 0 | 0 | 0 | 0 | |
Ending balance | 23,000,000 | 27,000,000 | 23,000,000 | 27,000,000 | |
Change in unrealized gains(losses) related to financials instruments held | 0 | 27,000,000 | 0 | 27,000,000 | |
Beneficial interests issued by consolidated VIEs | |||||
Liabilities | |||||
Beginning balance | 1,023,000,000 | 1,160,000,000 | 1,146,000,000 | 1,240,000,000 | |
Total realized/unrealized gains/(losses) | 36,000,000 | 54,000,000 | (17,000,000) | 101,000,000 | |
Purchases | (16,000,000) | 0 | (16,000,000) | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 284,000,000 | 4,000,000 | 286,000,000 | 82,000,000 | |
Settlements | (187,000,000) | (54,000,000) | (259,000,000) | (259,000,000) | |
Transfers into and/or out of level 3 | 0 | (102,000,000) | 0 | (102,000,000) | |
Ending balance | 1,140,000,000 | 1,062,000,000 | 1,140,000,000 | 1,062,000,000 | |
Change in unrealized gains(losses) related to financials instruments held | 26,000,000 | 58,000,000 | 0 | 88,000,000 | |
Long-term debt | |||||
Liabilities | |||||
Beginning balance | 12,003,000,000 | 11,203,000,000 | 11,877,000,000 | 10,008,000,000 | |
Total realized/unrealized gains/(losses) | (92,000,000) | 437,000,000 | (197,000,000) | 539,000,000 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | (12,000,000) | 0 | |
Issuances | 2,546,000,000 | 1,912,000,000 | 5,383,000,000 | 3,744,000,000 | |
Settlements | (1,774,000,000) | (1,369,000,000) | (4,145,000,000) | (2,379,000,000) | |
Transfers into and/or out of level 3 | (94,000,000) | (437,000,000) | (317,000,000) | (166,000,000) | |
Ending balance | 12,589,000,000 | 11,746,000,000 | 12,589,000,000 | 11,746,000,000 | |
Change in unrealized gains(losses) related to financials instruments held | 19,000,000 | 410,000,000 | (37,000,000) | 585,000,000 | |
Interest rate contracts | |||||
Net derivative receivables: | |||||
Beginning balance | 650,000,000 | 2,090,000,000 | 626,000,000 | 2,379,000,000 | |
Total realized/unrealized gains/(losses) | 351,000,000 | 2,000,000 | 493,000,000 | 26,000,000 | |
Purchases | 133,000,000 | 50,000,000 | 442,000,000 | 98,000,000 | |
Sales | (84,000,000) | (63,000,000) | (158,000,000) | (106,000,000) | |
Settlements | (98,000,000) | (427,000,000) | (353,000,000) | (765,000,000) | |
Transfers into and/or out of level 3 | (93,000,000) | (119,000,000) | (191,000,000) | (99,000,000) | |
Ending balance | 859,000,000 | 1,533,000,000 | 859,000,000 | 1,533,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 309,000,000 | (49,000,000) | 541,000,000 | (690,000,000) | |
Credit derivatives | |||||
Net derivative receivables: | |||||
Beginning balance | 275,000,000 | 244,000,000 | 189,000,000 | 95,000,000 | |
Total realized/unrealized gains/(losses) | 17,000,000 | (124,000,000) | 94,000,000 | (239,000,000) | |
Purchases | 1,000,000 | 164,000,000 | 10,000,000 | 222,000,000 | |
Sales | (1,000,000) | (21,000,000) | (4,000,000) | (21,000,000) | |
Settlements | 107,000,000 | (79,000,000) | 126,000,000 | 127,000,000 | |
Transfers into and/or out of level 3 | 33,000,000 | (50,000,000) | 17,000,000 | (50,000,000) | |
Ending balance | 432,000,000 | 134,000,000 | 432,000,000 | 134,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 22,000,000 | (91,000,000) | 195,000,000 | (186,000,000) | |
Foreign exchange contracts | |||||
Net derivative receivables: | |||||
Beginning balance | 707,000,000 | (1,282,000,000) | (526,000,000) | (1,200,000,000) | |
Total realized/unrealized gains/(losses) | 118,000,000 | (143,000,000) | 945,000,000 | (342,000,000) | |
Purchases | 8,000,000 | 33,000,000 | 13,000,000 | 94,000,000 | |
Sales | (8,000,000) | (3,000,000) | (11,000,000) | (19,000,000) | |
Settlements | (187,000,000) | 206,000,000 | 14,000,000 | 255,000,000 | |
Transfers into and/or out of level 3 | (233,000,000) | (5,000,000) | (30,000,000) | 18,000,000 | |
Ending balance | 405,000,000 | (1,194,000,000) | 405,000,000 | (1,194,000,000) | |
Change in unrealized gains/(losses) related to financial instruments held | 245,000,000 | (141,000,000) | 551,000,000 | (291,000,000) | |
Equity | |||||
Net derivative receivables: | |||||
Beginning balance | (2,745,000,000) | (1,060,000,000) | (1,785,000,000) | (1,063,000,000) | |
Total realized/unrealized gains/(losses) | 801,000,000 | (143,000,000) | 325,000,000 | (72,000,000) | |
Purchases | 216,000,000 | 57,000,000 | 424,000,000 | 858,000,000 | |
Sales | (383,000,000) | (547,000,000) | (672,000,000) | (1,580,000,000) | |
Settlements | 93,000,000 | (74,000,000) | (262,000,000) | 51,000,000 | |
Transfers into and/or out of level 3 | 170,000,000 | (439,000,000) | 122,000,000 | (400,000,000) | |
Ending balance | (1,848,000,000) | (2,206,000,000) | (1,848,000,000) | (2,206,000,000) | |
Change in unrealized gains/(losses) related to financial instruments held | 621,000,000 | (204,000,000) | 137,000,000 | 343,000,000 | |
Commodity contracts | |||||
Net derivative receivables: | |||||
Beginning balance | (735,000,000) | (58,000,000) | (565,000,000) | 115,000,000 | |
Total realized/unrealized gains/(losses) | 129,000,000 | (18,000,000) | 89,000,000 | (172,000,000) | |
Purchases | 0 | 0 | 0 | 1,000,000 | |
Sales | 0 | 0 | 0 | 0 | |
Settlements | 47,000,000 | 29,000,000 | (51,000,000) | (13,000,000) | |
Transfers into and/or out of level 3 | (35,000,000) | (75,000,000) | (67,000,000) | (53,000,000) | |
Ending balance | (594,000,000) | (122,000,000) | (594,000,000) | (122,000,000) | |
Change in unrealized gains/(losses) related to financial instruments held | 180,000,000 | 16,000,000 | (101,000,000) | (156,000,000) | |
Total debt and equity instruments | |||||
Assets | |||||
Fair Value, Beginning balance | 19,172,000,000 | 24,306,000,000 | 22,489,000,000 | 27,206,000,000 | |
Total realized/unrealized gains/(losses) | 566,000,000 | 903,000,000 | 172,000,000 | 1,553,000,000 | |
Purchases | 2,988,000,000 | 6,282,000,000 | 6,059,000,000 | 11,531,000,000 | |
Sales | (2,672,000,000) | (3,351,000,000) | (7,058,000,000) | (8,480,000,000) | |
Settlements | (527,000,000) | (2,315,000,000) | (1,248,000,000) | (4,813,000,000) | |
Transfers into and/or out of level 3 | (3,586,000,000) | (58,000,000) | (4,473,000,000) | (1,230,000,000) | |
Fair Value, Ending Balance | 15,941,000,000 | 25,767,000,000 | 15,941,000,000 | 25,767,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 424,000,000 | 746,000,000 | 93,000,000 | 1,594,000,000 | |
Mortgage-backed securities | |||||
Assets | |||||
Fair Value, Beginning balance | 1,548,000,000 | 2,330,000,000 | 1,891,000,000 | 2,163,000,000 | |
Total realized/unrealized gains/(losses) | 147,000,000 | 102,000,000 | 73,000,000 | 149,000,000 | |
Purchases | 231,000,000 | 453,000,000 | 539,000,000 | 1,297,000,000 | |
Sales | (313,000,000) | (513,000,000) | (828,000,000) | (1,169,000,000) | |
Settlements | (44,000,000) | (79,000,000) | (98,000,000) | (132,000,000) | |
Transfers into and/or out of level 3 | (407,000,000) | (298,000,000) | (415,000,000) | (313,000,000) | |
Fair Value, Ending Balance | 1,162,000,000 | 1,995,000,000 | 1,162,000,000 | 1,995,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 110,000,000 | 49,000,000 | 60,000,000 | 65,000,000 | |
Mortgage-backed securities, U.S. government agencies | |||||
Assets | |||||
Fair Value, Beginning balance | 888,000,000 | 1,150,000,000 | 922,000,000 | 1,005,000,000 | |
Total realized/unrealized gains/(losses) | 91,000,000 | 27,000,000 | 38,000,000 | 30,000,000 | |
Purchases | 108,000,000 | 12,000,000 | 182,000,000 | 343,000,000 | |
Sales | (148,000,000) | (12,000,000) | (165,000,000) | (174,000,000) | |
Settlements | (34,000,000) | (33,000,000) | (74,000,000) | (60,000,000) | |
Transfers into and/or out of level 3 | (4,000,000) | (19,000,000) | (2,000,000) | (19,000,000) | |
Fair Value, Ending Balance | 901,000,000 | 1,125,000,000 | 901,000,000 | 1,125,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 84,000,000 | 28,000,000 | 40,000,000 | 32,000,000 | |
Mortgage-backed securities, Residential - nonagency | |||||
Assets | |||||
Fair Value, Beginning balance | 449,000,000 | 715,000,000 | 663,000,000 | 726,000,000 | |
Total realized/unrealized gains/(losses) | 54,000,000 | 67,000,000 | 44,000,000 | 91,000,000 | |
Purchases | 25,000,000 | 181,000,000 | 177,000,000 | 373,000,000 | |
Sales | (116,000,000) | (314,000,000) | (463,000,000) | (514,000,000) | |
Settlements | (4,000,000) | (12,000,000) | (10,000,000) | (24,000,000) | |
Transfers into and/or out of level 3 | (285,000,000) | (94,000,000) | (288,000,000) | (109,000,000) | |
Fair Value, Ending Balance | 123,000,000 | 543,000,000 | 123,000,000 | 543,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 28,000,000 | 21,000,000 | 26,000,000 | 29,000,000 | |
Mortgage-backed securities, Commercial - nonagency | |||||
Assets | |||||
Fair Value, Beginning balance | 211,000,000 | 465,000,000 | 306,000,000 | 432,000,000 | |
Total realized/unrealized gains/(losses) | 2,000,000 | 8,000,000 | (9,000,000) | 28,000,000 | |
Purchases | 98,000,000 | 260,000,000 | 180,000,000 | 581,000,000 | |
Sales | (49,000,000) | (187,000,000) | (200,000,000) | (481,000,000) | |
Settlements | (6,000,000) | (34,000,000) | (14,000,000) | (48,000,000) | |
Transfers into and/or out of level 3 | (118,000,000) | (185,000,000) | (125,000,000) | (185,000,000) | |
Fair Value, Ending Balance | 138,000,000 | 327,000,000 | 138,000,000 | 327,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (2,000,000) | 0 | (6,000,000) | 4,000,000 | |
Obligations of U.S. states and municipalities | |||||
Assets | |||||
Fair Value, Beginning balance | 1,331,000,000 | 1,219,000,000 | 1,273,000,000 | 1,382,000,000 | |
Total realized/unrealized gains/(losses) | 3,000,000 | (35,000,000) | 13,000,000 | (13,000,000) | |
Purchases | 47,000,000 | 0 | 191,000,000 | 0 | |
Sales | (39,000,000) | (105,000,000) | (110,000,000) | (290,000,000) | |
Settlements | (2,000,000) | 0 | (27,000,000) | 0 | |
Transfers into and/or out of level 3 | (93,000,000) | 0 | (93,000,000) | 0 | |
Fair Value, Ending Balance | 1,247,000,000 | 1,079,000,000 | 1,247,000,000 | 1,079,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 3,000,000 | (44,000,000) | 12,000,000 | 7,000,000 | |
Non-U.S. government debt securities | |||||
Assets | |||||
Fair Value, Beginning balance | 180,000,000 | 52,000,000 | 302,000,000 | 143,000,000 | |
Total realized/unrealized gains/(losses) | 8,000,000 | 3,000,000 | 9,000,000 | 19,000,000 | |
Purchases | 54,000,000 | 25,000,000 | 155,000,000 | 435,000,000 | |
Sales | (20,000,000) | (3,000,000) | (112,000,000) | (519,000,000) | |
Settlements | (11,000,000) | (1,000,000) | (42,000,000) | (2,000,000) | |
Transfers into and/or out of level 3 | (3,000,000) | 52,000,000 | (104,000,000) | 52,000,000 | |
Fair Value, Ending Balance | 208,000,000 | 128,000,000 | 208,000,000 | 128,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 16,000,000 | 3,000,000 | 19,000,000 | 24,000,000 | |
Corporate debt securities | |||||
Assets | |||||
Fair Value, Beginning balance | 2,759,000,000 | 4,873,000,000 | 2,989,000,000 | 5,920,000,000 | |
Total realized/unrealized gains/(losses) | 5,000,000 | 130,000,000 | (50,000,000) | 368,000,000 | |
Purchases | 288,000,000 | 1,163,000,000 | 821,000,000 | 2,360,000,000 | |
Sales | (313,000,000) | (663,000,000) | (809,000,000) | (2,015,000,000) | |
Settlements | 57,000,000 | (823,000,000) | (35,000,000) | (1,664,000,000) | |
Transfers into and/or out of level 3 | (1,853,000,000) | 113,000,000 | (1,973,000,000) | (176,000,000) | |
Fair Value, Ending Balance | 943,000,000 | 4,793,000,000 | 943,000,000 | 4,793,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 10,000,000 | 74,000,000 | 18,000,000 | 280,000,000 | |
Loans | |||||
Assets | |||||
Fair Value, Beginning balance | 10,763,000,000 | 12,521,000,000 | 13,287,000,000 | 13,455,000,000 | |
Total realized/unrealized gains/(losses) | 294,000,000 | 372,000,000 | 9,000,000 | 691,000,000 | |
Purchases | 1,160,000,000 | 3,129,000,000 | 1,896,000,000 | 5,287,000,000 | |
Sales | (1,152,000,000) | (1,108,000,000) | (3,149,000,000) | (2,902,000,000) | |
Settlements | (350,000,000) | (1,172,000,000) | (819,000,000) | (2,718,000,000) | |
Transfers into and/or out of level 3 | (1,152,000,000) | (221,000,000) | (1,661,000,000) | (292,000,000) | |
Fair Value, Ending Balance | 9,563,000,000 | 13,521,000,000 | 9,563,000,000 | 13,521,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 264,000,000 | 376,000,000 | (67,000,000) | 882,000,000 | |
Asset-backed securities | |||||
Assets | |||||
Fair Value, Beginning balance | 1,233,000,000 | 1,156,000,000 | 1,264,000,000 | 1,272,000,000 | |
Total realized/unrealized gains/(losses) | 21,000,000 | 46,000,000 | (16,000,000) | 70,000,000 | |
Purchases | 737,000,000 | 807,000,000 | 1,296,000,000 | 1,357,000,000 | |
Sales | (371,000,000) | (776,000,000) | (892,000,000) | (1,332,000,000) | |
Settlements | (26,000,000) | (151,000,000) | 6,000,000 | (171,000,000) | |
Transfers into and/or out of level 3 | (55,000,000) | 134,000,000 | (119,000,000) | 20,000,000 | |
Fair Value, Ending Balance | 1,539,000,000 | 1,216,000,000 | 1,539,000,000 | 1,216,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 15,000,000 | 32,000,000 | (14,000,000) | 43,000,000 | |
Debt securities | |||||
Assets | |||||
Fair Value, Beginning balance | 17,814,000,000 | 22,151,000,000 | 21,006,000,000 | 24,335,000,000 | |
Total realized/unrealized gains/(losses) | 478,000,000 | 618,000,000 | 38,000,000 | 1,284,000,000 | |
Purchases | 2,517,000,000 | 5,577,000,000 | 4,898,000,000 | 10,736,000,000 | |
Sales | (2,208,000,000) | (3,168,000,000) | (5,900,000,000) | (8,227,000,000) | |
Settlements | (376,000,000) | (2,226,000,000) | (1,015,000,000) | (4,687,000,000) | |
Transfers into and/or out of level 3 | (3,563,000,000) | (220,000,000) | (4,365,000,000) | (709,000,000) | |
Fair Value, Ending Balance | 14,662,000,000 | 22,732,000,000 | 14,662,000,000 | 22,732,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 418,000,000 | 490,000,000 | 28,000,000 | 1,301,000,000 | |
Equity securities | |||||
Assets | |||||
Fair Value, Beginning balance | 317,000,000 | 868,000,000 | 431,000,000 | 867,000,000 | |
Total realized/unrealized gains/(losses) | 8,000,000 | 19,000,000 | 46,000,000 | 100,000,000 | |
Purchases | 21,000,000 | 49,000,000 | 50,000,000 | 85,000,000 | |
Sales | (13,000,000) | (56,000,000) | (123,000,000) | (75,000,000) | |
Settlements | (14,000,000) | (22,000,000) | (17,000,000) | (30,000,000) | |
Transfers into and/or out of level 3 | (9,000,000) | (167,000,000) | (77,000,000) | (256,000,000) | |
Fair Value, Ending Balance | 310,000,000 | 691,000,000 | 310,000,000 | 691,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 9,000,000 | 83,000,000 | 51,000,000 | 147,000,000 | |
Physical Commodities | |||||
Assets | |||||
Fair Value, Beginning balance | 3,000,000 | 4,000,000 | |||
Total realized/unrealized gains/(losses) | 0 | 0 | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Settlements | 0 | (1,000,000) | |||
Transfers into and/or out of level 3 | 0 | 0 | |||
Fair Value, Ending Balance | 3,000,000 | 3,000,000 | |||
Change in unrealized gains/(losses) related to financial instruments held | 0 | 0 | |||
Other debt and equity instruments | |||||
Assets | |||||
Fair Value, Beginning balance | 1,041,000,000 | 1,284,000,000 | 1,052,000,000 | 2,000,000,000 | |
Total realized/unrealized gains/(losses) | 80,000,000 | 266,000,000 | 88,000,000 | 169,000,000 | |
Purchases | 450,000,000 | 656,000,000 | 1,111,000,000 | 710,000,000 | |
Sales | (451,000,000) | (127,000,000) | (1,035,000,000) | (178,000,000) | |
Settlements | (137,000,000) | (67,000,000) | (216,000,000) | (95,000,000) | |
Transfers into and/or out of level 3 | (14,000,000) | 329,000,000 | (31,000,000) | (265,000,000) | |
Fair Value, Ending Balance | 969,000,000 | 2,341,000,000 | 969,000,000 | 2,341,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (3,000,000) | 173,000,000 | 14,000,000 | 146,000,000 | |
AFS securities | |||||
Assets | |||||
Fair Value, Beginning balance | 1,003,000,000 | 2,317,000,000 | 1,037,000,000 | 2,322,000,000 | |
Total realized/unrealized gains/(losses) | 2,000,000 | (8,000,000) | (7,000,000) | (13,000,000) | |
Purchases | 0 | 347,000,000 | 49,000,000 | 347,000,000 | |
Sales | 0 | 0 | (43,000,000) | (2,000,000) | |
Settlements | (31,000,000) | (48,000,000) | (62,000,000) | (109,000,000) | |
Transfers into and/or out of level 3 | (99,000,000) | (772,000,000) | (99,000,000) | (709,000,000) | |
Fair Value, Ending Balance | 875,000,000 | 1,836,000,000 | 875,000,000 | 1,836,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 2,000,000 | (7,000,000) | (2,000,000) | (12,000,000) | |
Level 3 Rollforward Supplemental Data [Abstract] | |||||
Realized gains/(losses) recorded in income | 0 | (11,000,000) | (7,000,000) | (12,000,000) | |
Unrealized gains/(losses) recorded in OCI | 2,000,000 | 3,000,000 | 161,000,000 | (1,000,000) | |
Asset-backed AFS securities | |||||
Assets | |||||
Fair Value, Beginning balance | 881,000,000 | 1,127,000,000 | 908,000,000 | 1,088,000,000 | |
Total realized/unrealized gains/(losses) | 2,000,000 | (9,000,000) | (7,000,000) | (11,000,000) | |
Purchases | 0 | 225,000,000 | 49,000,000 | 225,000,000 | |
Sales | 0 | 0 | (43,000,000) | (2,000,000) | |
Settlements | (21,000,000) | (21,000,000) | (45,000,000) | (41,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | 0 | 63,000,000 | |
Fair Value, Ending Balance | 862,000,000 | 1,322,000,000 | 862,000,000 | 1,322,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 2,000,000 | (9,000,000) | (2,000,000) | (11,000,000) | |
Other Available For Sale Securities | |||||
Assets | |||||
Fair Value, Beginning balance | 122,000,000 | 1,190,000,000 | 129,000,000 | 1,234,000,000 | |
Total realized/unrealized gains/(losses) | 0 | 1,000,000 | 0 | (2,000,000) | |
Purchases | 0 | 122,000,000 | 0 | 122,000,000 | |
Sales | 0 | 0 | 0 | 0 | |
Settlements | (10,000,000) | (27,000,000) | (17,000,000) | (68,000,000) | |
Transfers into and/or out of level 3 | (99,000,000) | (772,000,000) | (99,000,000) | (772,000,000) | |
Fair Value, Ending Balance | 13,000,000 | 514,000,000 | 13,000,000 | 514,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 0 | 2,000,000 | 0 | (1,000,000) | |
Loans | |||||
Assets | |||||
Fair Value, Beginning balance | 2,222,000,000 | 2,271,000,000 | 2,541,000,000 | 1,931,000,000 | |
Total realized/unrealized gains/(losses) | 85,000,000 | 40,000,000 | (120,000,000) | 72,000,000 | |
Purchases | 297,000,000 | 2,396,000,000 | 417,000,000 | 3,080,000,000 | |
Sales | 0 | 0 | (83,000,000) | (142,000,000) | |
Settlements | (309,000,000) | (480,000,000) | (460,000,000) | (714,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | 0 | 0 | |
Fair Value, Ending Balance | 2,295,000,000 | 4,227,000,000 | 2,295,000,000 | 4,227,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 83,000,000 | 21,000,000 | (118,000,000) | 47,000,000 | |
Mortgage servicing rights | |||||
Assets | |||||
Fair Value, Beginning balance | 6,641,000,000 | 8,552,000,000 | 7,436,000,000 | 9,614,000,000 | |
Total realized/unrealized gains/(losses) | 794,000,000 | (149,000,000) | 215,000,000 | (971,000,000) | |
Purchases | 583,000,000 | 181,000,000 | 739,000,000 | 376,000,000 | |
Sales | (218,000,000) | 2,000,000 | (375,000,000) | (186,000,000) | |
Settlements | (229,000,000) | (239,000,000) | (444,000,000) | (486,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | 0 | 0 | |
Fair Value, Ending Balance | 7,571,000,000 | 8,347,000,000 | 7,571,000,000 | 8,347,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 794,000,000 | (149,000,000) | 215,000,000 | (971,000,000) | |
Private equity | |||||
Assets | |||||
Fair Value, Beginning balance | 2,314,000,000 | 4,946,000,000 | 2,475,000,000 | 5,817,000,000 | |
Total realized/unrealized gains/(losses) | 11,000,000 | 144,000,000 | 47,000,000 | 240,000,000 | |
Purchases | 7,000,000 | 22,000,000 | 7,000,000 | 103,000,000 | |
Sales | (27,000,000) | (470,000,000) | (27,000,000) | (1,488,000,000) | |
Settlements | (295,000,000) | (8,000,000) | (366,000,000) | (308,000,000) | |
Transfers into and/or out of level 3 | (23,000,000) | (4,000,000) | (149,000,000) | 266,000,000 | |
Fair Value, Ending Balance | 1,987,000,000 | 4,630,000,000 | 1,987,000,000 | 4,630,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (14,000,000) | 128,000,000 | (16,000,000) | 109,000,000 | |
All other assets | |||||
Assets | |||||
Fair Value, Beginning balance | 894,000,000 | 1,295,000,000 | 965,000,000 | 1,382,000,000 | |
Total realized/unrealized gains/(losses) | 12,000,000 | 17,000,000 | 10,000,000 | (3,000,000) | |
Purchases | 11,000,000 | 3,000,000 | 65,000,000 | 6,000,000 | |
Sales | (57,000,000) | (102,000,000) | (143,000,000) | (130,000,000) | |
Settlements | (21,000,000) | (14,000,000) | (58,000,000) | (56,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | 0 | 0 | |
Fair Value, Ending Balance | 839,000,000 | 1,199,000,000 | 839,000,000 | 1,199,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | $ 3,000,000 | $ 17,000,000 | $ (16,000,000) | $ (3,000,000) |
Fair Value Measurement - Leve64
Fair Value Measurement - Level 3 Analysis (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Percentage of level 3 assets in total Firm assets | 1.70% | 1.70% | |||
Derivatives, total realized/unrealized gains/(losses) | $ 1,416 | $ (426) | $ 1,946 | $ (799) | |
Liability | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Liabilities, total realized/unrealized gains/(losses) | (456) | ||||
Trading assets, debt and equity instruments | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Assets, total realized/unrealized gains/(losses) | $ 1,600 | ||||
Derivative asset | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Derivatives, total realized/unrealized gains/(losses) | 1,400 | 2,000 | |||
Total assets | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Assets, total realized/unrealized gains/(losses) | $ 521 | ||||
Recurring | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Assets fair value | 690,278 | 690,278 | $ 747,731 | ||
Recurring | Level 3 | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Assets fair value | 40,636 | 40,636 | $ 49,252 | ||
Increase (decrease) in level 3 assets | (5,400) | (8,600) | |||
Recurring | Level 3 | Trading assets, debt and equity instruments | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Increase (decrease) in level 3 assets | $ (3,200) | $ (6,500) |
Fair Value Measurement - Credit
Fair Value Measurement - Credit Adjustments Reflected on Balance Sheet (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Credit adjustments [Abstract] | ||
Derivative receivables balance | $ 67,451 | $ 78,975 |
Derivative payables | 59,026 | 71,116 |
Derivative CVA | (2,152) | (2,674) |
Derivative Credit Risk and Funding Valuation Adjustments | (317) | (380) |
Structured Notes Balance Net Of DVA and FVA | 56,788 | 53,772 |
Derivatives DVA | 771 | 714 |
Plain Vanilla Financial Instruments | ||
Credit adjustments [Abstract] | ||
Structured Notes Balance Net Of DVA | 1,700 | 943 |
Structured Finance | ||
Credit adjustments [Abstract] | ||
Derivative Credit Risk and Funding Valuation Adjustments | 1,803 | 1,152 |
Derivatives DVA | $ 1,700 | $ 1,400 |
Fair Value Measurement - Impact
Fair Value Measurement - Impact of Credit Adjustments (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Credit Valuation Adjustment | ||||
Impact of credit adjustments on earnings [Abstract] | ||||
Derivative credit adjustments | $ 341 | $ 272 | $ 522 | $ 253 |
Debit Valuation Adjustment and Funding Valuation Adjustment | ||||
Impact of credit adjustments on earnings [Abstract] | ||||
Derivative credit adjustments | 204 | (36) | 63 | (161) |
Structured note credit adjustments | 503 | 162 | 651 | 179 |
Debit Valuation Adjustment | ||||
Impact of credit adjustments on earnings [Abstract] | ||||
Derivative credit adjustments | 44 | (1) | 57 | (95) |
Structured note credit adjustments | $ 215 | $ 134 | $ 323 | $ 19 |
Fair Value Measurement - Nonrec
Fair Value Measurement - Nonrecurring Basis (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair value option, changes in fair value gain (loss) | $ (114) | $ (318) | $ (183) | $ (456) | |
Residential mortgage | Broker Price Opinion Valuation Technique | Weighted Average | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair value inputs, liquidation value discount | 23.00% | ||||
Residential mortgage | Broker Price Opinion Valuation Technique | Minimum | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair value inputs, liquidation value discount | 8.00% | ||||
Residential mortgage | Broker Price Opinion Valuation Technique | Maximum | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair value inputs, liquidation value discount | 59.00% | ||||
Nonrecurring | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, fair value, nonrecurring | 2,000 | $ 2,000 | $ 3,400 | ||
Nonrecurring | Level 2 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, fair value, nonrecurring | 94 | 597 | 94 | 597 | |
Nonrecurring | Level 3 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, fair value, nonrecurring | 1,900 | $ 2,800 | 1,900 | $ 2,800 | |
Nonrecurring | Level 3 | Consumer Loans Reclassified To Held-For-Sale | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, fair value, nonrecurring | 1,300 | 1,300 | |||
Nonrecurring | Level 3 | Residential mortgage | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, fair value, nonrecurring | $ 312 | $ 312 |
Fair Value Measurement - Carryi
Fair Value Measurement - Carrying Value and Estimated Fair Value (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Financial assets | ||||
Cash and due from banks | $ 24,095 | $ 27,831 | $ 27,523 | $ 39,771 |
Deposits with banks | 398,807 | 484,477 | ||
Federal funds sold and securities purchased under resale agreements | 212,850 | 215,803 | ||
Securities, held-to-maturity | 52,697 | 51,154 | ||
Financial liabilities | ||||
Commercial paper | 42,238 | 66,344 | ||
Beneficial interests issued by consolidated VIEs | 50,002 | 52,362 | ||
Carrying value | ||||
Financial assets | ||||
Cash and due from banks | 24,100 | 27,800 | ||
Deposits with banks | 398,800 | 484,500 | ||
Accrued interest and accounts receivable | 69,600 | 70,100 | ||
Federal funds sold and securities purchased under resale agreements | 184,200 | 187,200 | ||
Securities borrowed | 98,000 | 109,400 | ||
Securities, held-to-maturity | 51,600 | 49,300 | ||
Loans, net of allowance for loan losses | 774,900 | 740,500 | ||
Other | 65,200 | 64,700 | ||
Financial liabilities | ||||
Deposits | 1,275,800 | 1,354,600 | ||
Federal funds purchased and securities loaned or sold under repurchase agreements | 177,400 | 189,100 | ||
Commercial paper | 42,200 | 66,300 | ||
Other borrowed funds | 16,100 | 15,500 | ||
Accounts payable and other liabilities | 163,500 | 176,700 | ||
Beneficial interests issued by consolidated VIEs | 48,700 | 50,200 | ||
Long-term debt and junior subordinated deferrable interest debentures | 255,400 | 246,600 | ||
Wholesale lending-related commitments | 600 | 600 | ||
Estimate of Fair Value | ||||
Financial assets | ||||
Cash and due from banks | 24,100 | 27,800 | ||
Deposits with banks | 398,800 | 484,500 | ||
Accrued interest and accounts receivable | 69,600 | 70,100 | ||
Federal funds sold and securities purchased under resale agreements | 184,200 | 187,200 | ||
Securities borrowed | 98,000 | 109,400 | ||
Securities, held-to-maturity | 52,700 | 51,200 | ||
Loans, net of allowance for loan losses | 780,000 | 744,900 | ||
Other | 69,700 | 69,000 | ||
Financial liabilities | ||||
Deposits | 1,275,900 | 1,354,800 | ||
Federal funds purchased and securities loaned or sold under repurchase agreements | 177,300 | 189,100 | ||
Commercial paper | 42,200 | 66,300 | ||
Other borrowed funds | 16,100 | 15,500 | ||
Accounts payable and other liabilities | 163,300 | 176,600 | ||
Beneficial interests issued by consolidated VIEs | 48,700 | 50,200 | ||
Long-term debt and junior subordinated deferrable interest debentures | 261,300 | 255,400 | ||
Wholesale lending-related commitments | 1,600 | 1,600 | ||
Estimate of Fair Value | Level 1 | ||||
Financial assets | ||||
Cash and due from banks | 24,100 | 27,800 | ||
Deposits with banks | 395,200 | 480,400 | ||
Accrued interest and accounts receivable | 0 | 0 | ||
Federal funds sold and securities purchased under resale agreements | 0 | 0 | ||
Securities borrowed | 0 | 0 | ||
Securities, held-to-maturity | 0 | 0 | ||
Loans, net of allowance for loan losses | 0 | 0 | ||
Other | 0 | 0 | ||
Financial liabilities | ||||
Deposits | 0 | 0 | ||
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | 0 | ||
Commercial paper | 0 | $ 0 | ||
Other borrowed funds | 0 | |||
Accounts payable and other liabilities | 0 | $ 0 | ||
Beneficial interests issued by consolidated VIEs | 0 | 0 | ||
Long-term debt and junior subordinated deferrable interest debentures | 0 | 0 | ||
Wholesale lending-related commitments | 0 | 0 | ||
Estimate of Fair Value | Level 2 | ||||
Financial assets | ||||
Cash and due from banks | 0 | 0 | ||
Deposits with banks | 3,600 | 4,100 | ||
Accrued interest and accounts receivable | 69,400 | 70,000 | ||
Federal funds sold and securities purchased under resale agreements | 184,200 | 187,200 | ||
Securities borrowed | 98,000 | 109,400 | ||
Securities, held-to-maturity | 52,700 | 51,200 | ||
Loans, net of allowance for loan losses | 22,700 | 21,800 | ||
Other | 56,600 | 55,700 | ||
Financial liabilities | ||||
Deposits | 1,274,700 | 1,353,600 | ||
Federal funds purchased and securities loaned or sold under repurchase agreements | 177,300 | 189,100 | ||
Commercial paper | 42,200 | 66,300 | ||
Other borrowed funds | 16,100 | 15,500 | ||
Accounts payable and other liabilities | 160,900 | 173,700 | ||
Beneficial interests issued by consolidated VIEs | 46,800 | 48,200 | ||
Long-term debt and junior subordinated deferrable interest debentures | 257,300 | 251,600 | ||
Wholesale lending-related commitments | 0 | 0 | ||
Estimate of Fair Value | Level 3 | ||||
Financial assets | ||||
Cash and due from banks | 0 | 0 | ||
Deposits with banks | 0 | 0 | ||
Accrued interest and accounts receivable | 200 | 100 | ||
Federal funds sold and securities purchased under resale agreements | 0 | 0 | ||
Securities borrowed | 0 | 0 | ||
Securities, held-to-maturity | 0 | 0 | ||
Loans, net of allowance for loan losses | 757,300 | 723,100 | ||
Other | 13,100 | 13,300 | ||
Financial liabilities | ||||
Deposits | 1,200 | 1,200 | ||
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | 0 | ||
Commercial paper | 0 | 0 | ||
Other borrowed funds | 0 | 0 | ||
Accounts payable and other liabilities | 2,400 | 2,900 | ||
Beneficial interests issued by consolidated VIEs | 1,900 | 2,000 | ||
Long-term debt and junior subordinated deferrable interest debentures | 4,000 | 3,800 | ||
Wholesale lending-related commitments | $ 1,600 | $ 1,600 |
Fair Value Option - Changes in
Fair Value Option - Changes in fair value under the fair value option (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | $ (114) | $ (318) | $ (183) | $ (456) |
Debit Valuation Adjustment | ||||
Changes in fair value under the fair value option election | ||||
Structured note credit adjustments | 215 | 134 | 323 | 19 |
Federal funds sold and securities purchased under resale agreements | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | (99) | 96 | (26) | 56 |
Federal funds sold and securities purchased under resale agreements | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | (99) | 96 | (26) | 56 |
Federal funds sold and securities purchased under resale agreements | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 0 | 0 | 0 |
Securities borrowed | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | (2) | (2) | (4) | (5) |
Securities borrowed | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | (2) | (2) | (4) | (5) |
Securities borrowed | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 0 | 0 | 0 |
Debt and equity instruments, excluding loans | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 140 | 248 | 520 | 476 |
Debt and equity instruments, excluding loans | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 139 | 245 | 519 | 475 |
Debt and equity instruments, excluding loans | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 1 | 3 | 1 | 1 |
Loans reported as trading assets: Changes in instrument-specific credit risk | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 69 | 394 | 224 | 766 |
Loans reported as trading assets: Changes in instrument-specific credit risk | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 59 | 391 | 211 | 754 |
Loans reported as trading assets: Changes in instrument-specific credit risk | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 10 | 3 | 13 | 12 |
Loans reported as trading assets: Other changes in fair value | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 85 | 438 | 492 | 794 |
Loans reported as trading assets: Other changes in fair value | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | (15) | 38 | 112 | 102 |
Loans reported as trading assets: Other changes in fair value | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 100 | 400 | 380 | 692 |
Loans: Changes in instrument-specific credit risk | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 20 | 1 | 28 |
Loans: Changes in instrument-specific credit risk | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 20 | 1 | 28 |
Loans: Changes in instrument-specific credit risk | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 0 | 0 | 0 |
Loans: Other changes in fair value | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 24 | 0 | 31 |
Loans: Other changes in fair value | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 24 | 0 | 31 |
Loans: Other changes in fair value | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 0 | 0 | 0 |
Other assets | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 5 | 6 | 71 | (62) |
Other assets | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 2 | 7 | 62 | 12 |
Other assets | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 3 | (1) | 9 | (74) |
Deposits | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 162 | (107) | 37 | (211) |
Deposits | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 162 | (107) | 37 | (211) |
Deposits | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 0 | 0 | 0 |
Federal funds purchased and securities loaned or sold under repurchase agreements | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 18 | (18) | 9 | (34) |
Federal funds purchased and securities loaned or sold under repurchase agreements | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 18 | (18) | 9 | (34) |
Federal funds purchased and securities loaned or sold under repurchase agreements | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 0 | 0 | 0 |
Other borrowed funds | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 115 | (911) | 106 | (1,171) |
Other borrowed funds | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 115 | (911) | 106 | (1,171) |
Other borrowed funds | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 0 | 0 | 0 |
Trading liabilities | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | (12) | (3) | (14) | (9) |
Trading liabilities | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | (12) | (3) | (14) | (9) |
Trading liabilities | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 0 | 0 | 0 |
Beneficial interests issued by consolidated VIEs | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 26 | (48) | 44 | (137) |
Beneficial interests issued by consolidated VIEs | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 26 | (48) | 44 | (137) |
Beneficial interests issued by consolidated VIEs | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 0 | 0 | 0 |
Other liabilities | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | (27) | 0 | (27) |
Other liabilities | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | (27) | 0 | (27) |
Other liabilities | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 0 | 0 | 0 |
Long-term debt: Changes in instrument-specific credit risk | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 209 | 82 | 325 | 5 |
Long-term debt: Changes in instrument-specific credit risk | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 209 | 82 | 325 | 5 |
Long-term debt: Changes in instrument-specific credit risk | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 0 | 0 | 0 |
Long-term debt: Other changes in fair value | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 728 | (773) | 350 | (791) |
Long-term debt: Other changes in fair value | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 728 | (773) | 350 | (791) |
Long-term debt: Other changes in fair value | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value Option - Aggregate d
Fair Value Option - Aggregate differences (Details) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Long-term beneficial interests | ||
Performing loans - 90 days or more outstanding | $ 0 | $ 0 |
Other guarantees and commitments | ||
Long-term beneficial interests | ||
Other guarantees and commitments, contractual amount | 5,984,000,000 | 5,720,000,000 |
Guarantor obligations, current carrying value | (107,000,000) | (121,000,000) |
Letters of credit hedged by derivative transactions | Other guarantees and commitments | ||
Long-term beneficial interests | ||
Other guarantees and commitments, contractual amount | 4,400,000,000 | 4,500,000,000 |
Guarantor obligations, current carrying value | (130,000,000) | (147,000,000) |
Carrying value | ||
Loans | ||
Nonaccrual loans | 4,103,000,000 | 3,854,000,000 |
Total loans | 41,099,000,000 | 43,859,000,000 |
Carrying value | Trading assets | ||
Loans | ||
Nonaccrual loans | 4,096,000,000 | 3,847,000,000 |
All other performing loans | 34,729,000,000 | 37,608,000,000 |
Carrying value | Loans | ||
Loans | ||
Nonaccrual loans | 7,000,000 | 7,000,000 |
All other performing loans | 2,267,000,000 | 2,397,000,000 |
Carrying value | Principal-protected debt | ||
Long-term debt | ||
Long-term debt | 14,747,000,000 | 14,660,000,000 |
Estimate of Fair Value | ||
Loans | ||
Nonaccrual loans | 1,104,000,000 | 912,000,000 |
Total loans | 36,251,000,000 | 38,763,000,000 |
Long-term debt | ||
Long-term debt | 31,316,000,000 | 30,226,000,000 |
Long-term beneficial interests | ||
Total long-term beneficial interests | 1,330,000,000 | 2,162,000,000 |
Estimate of Fair Value | Trading assets | ||
Loans | ||
Nonaccrual loans | 1,097,000,000 | 905,000,000 |
All other performing loans | 32,885,000,000 | 35,462,000,000 |
Estimate of Fair Value | Loans | ||
Loans | ||
Nonaccrual loans | 7,000,000 | 7,000,000 |
All other performing loans | 2,262,000,000 | 2,389,000,000 |
Estimate of Fair Value | Principal-protected debt | ||
Long-term debt | ||
Long-term debt | 14,690,000,000 | 15,484,000,000 |
Estimate of Fair Value | Nonprincipal-protected debt | ||
Long-term debt | ||
Long-term debt | 16,626,000,000 | 14,742,000,000 |
Long-term beneficial interests | ||
Total long-term beneficial interests | 1,330,000,000 | 2,162,000,000 |
Change During Period | ||
Loans | ||
Nonaccrual loans | (2,999,000,000) | (2,942,000,000) |
Total loans | (4,848,000,000) | (5,096,000,000) |
Change During Period | Trading assets | ||
Loans | ||
Nonaccrual loans | (2,999,000,000) | (2,942,000,000) |
All other performing loans | (1,844,000,000) | (2,146,000,000) |
Change During Period | Loans | ||
Loans | ||
Nonaccrual loans | 0 | 0 |
All other performing loans | (5,000,000) | (8,000,000) |
Change During Period | Principal-protected debt | ||
Long-term debt | ||
Long-term debt | $ (57,000,000) | $ 824,000,000 |
Fair Value Option - Structured
Fair Value Option - Structured note products by balance sheet classification and risk component (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | $ 55,093 | $ 52,829 |
Interest rate | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 14,639 | 13,437 |
Credit | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 4,771 | 4,473 |
Foreign exchange | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 1,662 | 2,378 |
Equity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 30,461 | 29,175 |
Commodity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 3,560 | 3,366 |
Long-term debt | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 30,631 | 30,089 |
Long-term debt | Interest rate | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 10,580 | 10,858 |
Long-term debt | Credit | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 4,353 | 4,023 |
Long-term debt | Foreign exchange | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 1,454 | 2,150 |
Long-term debt | Equity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 13,416 | 12,348 |
Long-term debt | Commodity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 828 | 710 |
Other borrowed funds | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 13,242 | 14,177 |
Other borrowed funds | Interest rate | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 99 | 460 |
Other borrowed funds | Credit | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 418 | 450 |
Other borrowed funds | Foreign exchange | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 196 | 211 |
Other borrowed funds | Equity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 12,300 | 12,412 |
Other borrowed funds | Commodity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 229 | 644 |
Deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 11,220 | 8,563 |
Deposits | Interest rate | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 3,960 | 2,119 |
Deposits | Credit | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 0 | 0 |
Deposits | Foreign exchange | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 12 | 17 |
Deposits | Equity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 4,745 | 4,415 |
Deposits | Commodity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | $ 2,503 | $ 2,012 |
Derivative Instruments - Notion
Derivative Instruments - Notional Amount of Derivative Contracts (Details) - USD ($) $ in Billions | Jun. 30, 2015 | Dec. 31, 2014 |
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | $ 53,708 | $ 63,662 |
Interest rate contracts | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 38,753 | 48,085 |
Interest rate contracts | Swaps | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 23,790 | 29,734 |
Interest rate contracts | Futures and forwards | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 7,108 | 10,189 |
Interest rate contracts | Written options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 3,735 | 3,903 |
Interest rate contracts | Purchased options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 4,120 | 4,259 |
Credit derivatives | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 3,681 | 4,249 |
Foreign exchange contracts | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 9,580 | 9,585 |
Foreign exchange contracts | Cross-currency swaps | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 3,262 | 3,346 |
Foreign exchange contracts | Spot, futures and forwards | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 4,810 | 4,669 |
Foreign exchange contracts | Written options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 750 | 790 |
Foreign exchange contracts | Purchased options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 758 | 780 |
Equity contracts | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 1,067 | 1,063 |
Equity contracts | Swaps | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 237 | 206 |
Equity contracts | Futures and forwards | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 59 | 50 |
Equity contracts | Written options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 414 | 432 |
Equity contracts | Purchased options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 357 | 375 |
Commodity contracts | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 627 | 680 |
Commodity contracts | Swaps | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 114 | 126 |
Commodity contracts | Spot, futures and forwards | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 162 | 193 |
Commodity contracts | Written options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | 175 | 181 |
Commodity contracts | Purchased options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Total derivative notional amounts | $ 176 | $ 180 |
Derivative Instruments - Impact
Derivative Instruments - Impact on Balance Sheet (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | $ 958,412 | $ 1,328,428 |
Derivative receivables balance | 67,451 | 78,975 |
Gross derivative payables | 945,997 | 1,310,773 |
Net derivative payables | 59,026 | 71,116 |
Interest rate contracts | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 656,663 | 950,257 |
Derivative receivables balance | 31,323 | 33,725 |
Gross derivative payables | 621,857 | 918,379 |
Net derivative payables | 13,880 | 17,745 |
Credit derivatives | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 54,577 | 76,842 |
Derivative receivables balance | 1,321 | 1,838 |
Gross derivative payables | 53,830 | 75,895 |
Net derivative payables | 1,262 | 1,593 |
Foreign exchange contracts | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 174,850 | 215,187 |
Derivative receivables balance | 18,340 | 21,253 |
Gross derivative payables | 189,653 | 224,614 |
Net derivative payables | 18,456 | 22,970 |
Equity contracts | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 42,390 | 42,489 |
Derivative receivables balance | 6,058 | 8,177 |
Gross derivative payables | 47,978 | 46,262 |
Net derivative payables | 11,539 | 11,740 |
Commodity contracts | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 29,932 | 43,653 |
Derivative receivables balance | 10,409 | 13,982 |
Gross derivative payables | 32,679 | 45,623 |
Net derivative payables | 13,889 | 17,068 |
Not designated as hedges | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 952,598 | 1,318,904 |
Gross derivative payables | 942,018 | 1,306,968 |
Not designated as hedges | Interest rate contracts | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 652,504 | 944,885 |
Gross derivative payables | 619,496 | 915,368 |
Not designated as hedges | Credit derivatives | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 54,577 | 76,842 |
Gross derivative payables | 53,830 | 75,895 |
Not designated as hedges | Foreign exchange contracts | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 174,062 | 211,537 |
Gross derivative payables | 188,047 | 223,988 |
Not designated as hedges | Equity contracts | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 42,390 | 42,489 |
Gross derivative payables | 47,978 | 46,262 |
Not designated as hedges | Commodity contracts | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 29,065 | 43,151 |
Gross derivative payables | 32,667 | 45,455 |
Designated as hedges | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 5,814 | 9,524 |
Gross derivative payables | 3,979 | 3,805 |
Designated as hedges | Interest rate contracts | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 4,159 | 5,372 |
Gross derivative payables | 2,361 | 3,011 |
Designated as hedges | Credit derivatives | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 0 | 0 |
Gross derivative payables | 0 | 0 |
Designated as hedges | Foreign exchange contracts | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 788 | 3,650 |
Gross derivative payables | 1,606 | 626 |
Designated as hedges | Equity contracts | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 0 | 0 |
Gross derivative payables | 0 | 0 |
Designated as hedges | Commodity contracts | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 867 | 502 |
Gross derivative payables | $ 12 | $ 168 |
Derivative Instruments - Deriva
Derivative Instruments - Derivatives Netting (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | $ 944,207 | $ 1,307,711 |
Amounts netted on the Consolidated balance sheets | (890,961) | (1,249,453) |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 53,246 | 58,258 |
Derivative receivables where an appropriate legal opinion has not been either sought or obtained | 14,205 | 20,717 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Gross derivative receivables | 958,412 | 1,328,428 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Net derivative receivables | 67,451 | 78,975 |
Net cash collateral payables | 67,200 | 74,000 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 932,568 | 1,291,703 |
Amounts netted on the Consolidated balance sheets | (886,971) | (1,239,657) |
Derivative payables with appropriate legal opinions, Net derivative payables | 45,597 | 52,046 |
Derivative payables where an appropriate legal opinion has not been either sought or obtained | 13,429 | 19,070 |
Total derivative payables recognized on the Consolidated Balance Sheets, Gross derivative payables | 945,997 | 1,310,773 |
Total derivative payables recognized on the Consolidated Balance Sheets, Net derivative payables | 59,026 | 71,116 |
Netted cash collateral receivables | 63,200 | 64,200 |
Interest rate contracts | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 650,938 | 943,763 |
Amounts netted on the Consolidated balance sheets | (625,340) | (916,532) |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 25,598 | 27,231 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Gross derivative receivables | 656,663 | 950,257 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Net derivative receivables | 31,323 | 33,725 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 620,615 | 914,422 |
Amounts netted on the Consolidated balance sheets | (607,977) | (900,634) |
Derivative payables with appropriate legal opinions, Net derivative payables | 12,638 | 13,788 |
Total derivative payables recognized on the Consolidated Balance Sheets, Gross derivative payables | 621,857 | 918,379 |
Total derivative payables recognized on the Consolidated Balance Sheets, Net derivative payables | 13,880 | 17,745 |
Interest rate contracts | OTC | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 431,691 | 542,107 |
Amounts netted on the Consolidated balance sheets | (406,111) | (514,914) |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 25,580 | 27,193 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 410,875 | 515,904 |
Amounts netted on the Consolidated balance sheets | (398,412) | (503,384) |
Derivative payables with appropriate legal opinions, Net derivative payables | 12,463 | 12,520 |
Interest rate contracts | OTC-cleared | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 219,247 | 401,656 |
Amounts netted on the Consolidated balance sheets | (219,229) | (401,618) |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 18 | 38 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 209,740 | 398,518 |
Amounts netted on the Consolidated balance sheets | (209,565) | (397,250) |
Derivative payables with appropriate legal opinions, Net derivative payables | 175 | 1,268 |
Interest rate contracts | Exchange traded | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 0 | 0 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative payables with appropriate legal opinions, Net derivative payables | 0 | 0 |
Credit derivatives | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 54,040 | 75,956 |
Amounts netted on the Consolidated balance sheets | (53,256) | (75,004) |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 784 | 952 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Gross derivative receivables | 54,577 | 76,842 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Net derivative receivables | 1,321 | 1,838 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 53,329 | 74,830 |
Amounts netted on the Consolidated balance sheets | (52,568) | (74,302) |
Derivative payables with appropriate legal opinions, Net derivative payables | 761 | 528 |
Total derivative payables recognized on the Consolidated Balance Sheets, Gross derivative payables | 53,830 | 75,895 |
Total derivative payables recognized on the Consolidated Balance Sheets, Net derivative payables | 1,262 | 1,593 |
Credit derivatives | OTC | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 45,040 | 66,636 |
Amounts netted on the Consolidated balance sheets | (44,287) | (65,720) |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 753 | 916 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 44,305 | 65,432 |
Amounts netted on the Consolidated balance sheets | (43,547) | (64,904) |
Derivative payables with appropriate legal opinions, Net derivative payables | 758 | 528 |
Credit derivatives | OTC-cleared | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 9,000 | 9,320 |
Amounts netted on the Consolidated balance sheets | (8,969) | (9,284) |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 31 | 36 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 9,024 | 9,398 |
Amounts netted on the Consolidated balance sheets | (9,021) | (9,398) |
Derivative payables with appropriate legal opinions, Net derivative payables | 3 | 0 |
Foreign exchange contracts | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 170,691 | 208,839 |
Amounts netted on the Consolidated balance sheets | (156,510) | (193,934) |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 14,181 | 14,905 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Gross derivative receivables | 174,850 | 215,187 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Net derivative receivables | 18,340 | 21,253 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 184,374 | 218,064 |
Amounts netted on the Consolidated balance sheets | (171,197) | (201,644) |
Derivative payables with appropriate legal opinions, Net derivative payables | 13,177 | 16,420 |
Total derivative payables recognized on the Consolidated Balance Sheets, Gross derivative payables | 189,653 | 224,614 |
Total derivative payables recognized on the Consolidated Balance Sheets, Net derivative payables | 18,456 | 22,970 |
Foreign exchange contracts | OTC | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 170,584 | 208,803 |
Amounts netted on the Consolidated balance sheets | (156,406) | (193,900) |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 14,178 | 14,903 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 184,282 | 217,998 |
Amounts netted on the Consolidated balance sheets | (171,105) | (201,578) |
Derivative payables with appropriate legal opinions, Net derivative payables | 13,177 | 16,420 |
Foreign exchange contracts | OTC-cleared | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 107 | 36 |
Amounts netted on the Consolidated balance sheets | (104) | (34) |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 3 | 2 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 92 | 66 |
Amounts netted on the Consolidated balance sheets | (92) | (66) |
Derivative payables with appropriate legal opinions, Net derivative payables | 0 | 0 |
Foreign exchange contracts | Exchange traded | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 0 | 0 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative payables with appropriate legal opinions, Net derivative payables | 0 | 0 |
Equity contracts | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 39,438 | 37,098 |
Amounts netted on the Consolidated balance sheets | (36,332) | (34,312) |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 3,106 | 2,786 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Gross derivative receivables | 42,390 | 42,489 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Net derivative receivables | 6,058 | 8,177 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 43,314 | 40,772 |
Amounts netted on the Consolidated balance sheets | (36,439) | (34,522) |
Derivative payables with appropriate legal opinions, Net derivative payables | 6,875 | 6,250 |
Total derivative payables recognized on the Consolidated Balance Sheets, Gross derivative payables | 47,978 | 46,262 |
Total derivative payables recognized on the Consolidated Balance Sheets, Net derivative payables | 11,539 | 11,740 |
Equity contracts | OTC | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 24,520 | 23,258 |
Amounts netted on the Consolidated balance sheets | (23,514) | (22,826) |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 1,006 | 432 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 29,022 | 27,908 |
Amounts netted on the Consolidated balance sheets | (23,621) | (23,036) |
Derivative payables with appropriate legal opinions, Net derivative payables | 5,401 | 4,872 |
Equity contracts | OTC-cleared | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 0 | 0 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative payables with appropriate legal opinions, Net derivative payables | 0 | 0 |
Equity contracts | Exchange traded | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 14,918 | 13,840 |
Amounts netted on the Consolidated balance sheets | (12,818) | (11,486) |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 2,100 | 2,354 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 14,292 | 12,864 |
Amounts netted on the Consolidated balance sheets | (12,818) | (11,486) |
Derivative payables with appropriate legal opinions, Net derivative payables | 1,474 | 1,378 |
Commodity contracts | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 29,100 | 42,055 |
Amounts netted on the Consolidated balance sheets | (19,523) | (29,671) |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 9,577 | 12,384 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Gross derivative receivables | 29,932 | 43,653 |
Total derivative receivables recognized on the Consolidated Balance Sheets, Net derivative receivables | 10,409 | 13,982 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 30,936 | 43,615 |
Amounts netted on the Consolidated balance sheets | (18,790) | (28,555) |
Derivative payables with appropriate legal opinions, Net derivative payables | 12,146 | 15,060 |
Total derivative payables recognized on the Consolidated Balance Sheets, Gross derivative payables | 32,679 | 45,623 |
Total derivative payables recognized on the Consolidated Balance Sheets, Net derivative payables | 13,889 | 17,068 |
Commodity contracts | OTC | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 15,963 | 22,555 |
Amounts netted on the Consolidated balance sheets | (7,265) | (14,327) |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 8,698 | 8,228 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 18,424 | 25,129 |
Amounts netted on the Consolidated balance sheets | (6,532) | (13,211) |
Derivative payables with appropriate legal opinions, Net derivative payables | 11,892 | 11,918 |
Commodity contracts | OTC-cleared | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 0 | 0 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Derivative payables with appropriate legal opinions, Net derivative payables | 0 | 0 |
Commodity contracts | Exchange traded | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Derivative receivables with appropriate legal opinion, Gross derivative receivables | 13,137 | 19,500 |
Amounts netted on the Consolidated balance sheets | (12,258) | (15,344) |
Derivative receivables with appropriate legal opinion, Net derivative receivables | 879 | 4,156 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Derivative payables with appropriate legal opinions, Gross derivative payables | 12,512 | 18,486 |
Amounts netted on the Consolidated balance sheets | (12,258) | (15,344) |
Derivative payables with appropriate legal opinions, Net derivative payables | $ 254 | $ 3,142 |
Derivative Instruments - Deri75
Derivative Instruments - Derivatives Collateral (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Derivative receivable collateral: | ||
Net derivative receivables | $ 53,246 | $ 58,258 |
Collateral not nettable on the Consolidated balance sheets | (13,214) | (16,194) |
Net exposure | 40,032 | 42,064 |
Derivative payable collateral: | ||
Net derivative payables | 45,597 | 52,046 |
Collateral not nettable on the Consolidated balance sheets | (9,093) | (10,505) |
Net amount | $ 36,504 | $ 41,541 |
Derivative Instruments - Liquid
Derivative Instruments - Liquidity Risk and Credit-Related Contingent Features (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Aggregate fair value of net derivative payables | $ 29,340 | $ 32,303 |
Collateral posted | 24,006 | 27,585 |
Single-notch downgrade | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Amount of additional collateral to be posted upon downgrade | 891 | 1,046 |
Amount required to settle contracts with termination triggers upon downgrade | 264 | 366 |
Two-notch downgrade | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Amount of additional collateral to be posted upon downgrade | 3,422 | 3,331 |
Amount required to settle contracts with termination triggers upon downgrade | $ 1,005 | $ 1,388 |
Derivative Instruments - Impa77
Derivative Instruments - Impact on Statements of Income, Fair Value Hedges (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Gains/(losses) recorded in income | ||||
Derivatives | $ (3,417) | $ (371) | $ 3,986 | $ 154 |
Hedged items | 3,511 | 698 | (3,504) | 477 |
Total income statement impact | 94 | 327 | 482 | 631 |
Income statement impact due to: | ||||
Hedge ineffectiveness | (24) | 56 | (13) | 100 |
Excluded components | 118 | 271 | 495 | 531 |
Interest rate contracts | ||||
Gains/(losses) recorded in income | ||||
Derivatives | (1,541) | 578 | (935) | 1,321 |
Hedged items | 1,709 | (261) | 1,461 | (668) |
Total income statement impact | 168 | 317 | 526 | 653 |
Income statement impact due to: | ||||
Hedge ineffectiveness | (19) | 43 | (2) | 72 |
Excluded components | 187 | 274 | 528 | 581 |
Foreign exchange contracts | ||||
Gains/(losses) recorded in income | ||||
Derivatives | (2,118) | (388) | 4,357 | (786) |
Hedged items | 2,097 | 307 | (4,362) | 631 |
Total income statement impact | (21) | (81) | (5) | (155) |
Income statement impact due to: | ||||
Hedge ineffectiveness | 0 | 0 | 0 | 0 |
Excluded components | (21) | (81) | (5) | (155) |
Commodity contracts | ||||
Gains/(losses) recorded in income | ||||
Derivatives | 242 | (561) | 564 | (381) |
Hedged items | (295) | 652 | (603) | 514 |
Total income statement impact | (53) | 91 | (39) | 133 |
Income statement impact due to: | ||||
Hedge ineffectiveness | (5) | 13 | (11) | 28 |
Excluded components | $ (48) | $ 78 | $ (28) | $ 105 |
Derivative Instruments - Impa78
Derivative Instruments - Impact on Statements of Income, Cash Flow Hedges (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Gains/(losses) recorded in income and other comprehensive income/(loss) | |||||
Net losses reclassified from AOCI to other income | $ 150 | ||||
Recognition of gain (loss) related to cash flow hedges in Income | $ 64 | ||||
Cash Flow Hedges Status, Terminated [Member] | |||||
Gains/(losses) recorded in income and other comprehensive income/(loss) | |||||
Maximum length of time hedged in forecasted transactions | 9 years | ||||
Cash Flow Hedges Status, Open [Member] | |||||
Gains/(losses) recorded in income and other comprehensive income/(loss) | |||||
Maximum length of time hedged in forecasted transactions | 3 years | ||||
Cash Flow Hedging | |||||
Gains/(losses) recorded in income and other comprehensive income/(loss) | |||||
Derivatives - effective portion reclassified from AOCI to income | $ (7) | $ 29 | $ (182) | $ 2 | |
Hedge ineffectiveness recorded directly in income | 0 | 0 | 0 | 0 | |
Total income statement impact | (7) | 29 | (182) | 2 | |
Effective portion recorded in OCI | 120 | 143 | 71 | 215 | |
Total change in OCI for period | 127 | 114 | 253 | 213 | |
Cash Flow Hedging | Interest rate contracts | |||||
Gains/(losses) recorded in income and other comprehensive income/(loss) | |||||
Derivatives - effective portion reclassified from AOCI to income | 22 | (10) | (127) | (36) | |
Hedge ineffectiveness recorded directly in income | 0 | 0 | 0 | 0 | |
Total income statement impact | 22 | (10) | (127) | (36) | |
Effective portion recorded in OCI | (23) | 71 | (20) | 134 | |
Total change in OCI for period | (45) | 81 | 107 | 170 | |
Cash Flow Hedging | Foreign exchange contracts | |||||
Gains/(losses) recorded in income and other comprehensive income/(loss) | |||||
Derivatives - effective portion reclassified from AOCI to income | (29) | 39 | (55) | 38 | |
Hedge ineffectiveness recorded directly in income | 0 | 0 | 0 | 0 | |
Total income statement impact | (29) | 39 | (55) | 38 | |
Effective portion recorded in OCI | 143 | 72 | 91 | 81 | |
Total change in OCI for period | $ 172 | $ 33 | $ 146 | $ 43 |
Derivative Instruments - Impa79
Derivative Instruments - Impact on Statements of Income, Net Investment Hedges (Details) - Net Investment Hedging - Foreign exchange contracts - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Net investment hedge gains and losses [Abstract] | ||||
Excluded components recorded directly in income | $ (91) | $ (122) | $ (189) | $ (227) |
Effective portion recorded in OCI | $ (250) | $ (208) | $ 743 | $ (362) |
Derivative Instruments - Impa80
Derivative Instruments - Impact on Statements of Income, Risk Management Derivatives (Details) - Risk Management Activities - Not designated as hedges - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Total income statement impact | $ (543) | $ 541 | $ 78 | $ 1,225 |
Interest rate contracts | ||||
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Total income statement impact | (563) | 589 | 120 | 1,107 |
Credit derivatives | ||||
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Total income statement impact | (10) | (24) | (24) | (41) |
Foreign exchange contracts | ||||
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Total income statement impact | 7 | (3) | (5) | (3) |
Commodity contracts | ||||
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Total income statement impact | $ 23 | $ (21) | $ (13) | $ 162 |
Derivative Instruments - Credit
Derivative Instruments - Credit Derivatives (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Total credit derivatives and credit-related notes | ||
Protection sold | $ (1,815,987) | $ (2,100,303) |
Protection purchased with identical underlyings | 1,831,673 | 2,110,144 |
Net protection (sold)/purchased | 15,686 | 9,841 |
Other protection purchased | 37,560 | 41,810 |
Total credit derivatives | ||
Total credit derivatives and credit-related notes | ||
Protection sold | (1,815,957) | (2,100,263) |
Protection purchased with identical underlyings | 1,831,673 | 2,110,144 |
Net protection (sold)/purchased | 15,716 | 9,881 |
Other protection purchased | 33,152 | 38,106 |
Credit default swaps | ||
Total credit derivatives and credit-related notes | ||
Protection sold | (1,768,492) | (2,056,982) |
Protection purchased with identical underlyings | 1,789,168 | 2,078,096 |
Net protection (sold)/purchased | 20,676 | 21,114 |
Other protection purchased | 15,001 | 18,631 |
Other credit derivatives | ||
Total credit derivatives and credit-related notes | ||
Protection sold | (47,465) | (43,281) |
Protection purchased with identical underlyings | 42,505 | 32,048 |
Net protection (sold)/purchased | (4,960) | (11,233) |
Other protection purchased | 18,151 | 19,475 |
Credit-related notes | ||
Total credit derivatives and credit-related notes | ||
Protection sold | (30) | (40) |
Protection purchased with identical underlyings | 0 | 0 |
Net protection (sold)/purchased | (30) | (40) |
Other protection purchased | $ 4,408 | $ 3,704 |
Derivative Instruments - Cred82
Derivative Instruments - Credit Derivatives, Protection Sold, Notional and Fair Value (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
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 | $ (417,674) | $ (480,679) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - from one to five years | (1,304,231) | (1,515,091) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - more than five years | (94,082) | (104,533) |
Total notional amount | (1,815,987) | (2,100,303) |
Net fair value | 18,268 | 17,675 |
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 | (291,246) | (323,398) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - from one to five years | (958,426) | (1,118,293) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - more than five years | (65,049) | (79,486) |
Total notional amount | (1,314,721) | (1,521,177) |
Net fair value | 14,818 | 19,453 |
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 | (126,428) | (157,281) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - from one to five years | (345,805) | (396,798) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - more than five years | (29,033) | (25,047) |
Total notional amount | (501,266) | (579,126) |
Net fair value | 3,450 | (1,778) |
Trading assets | ||
Protection sold credit derivatives and credit related notes ratings/maturity profile | ||
Fair value of receivables | 35,741 | 46,444 |
Trading assets | Investment-grade | ||
Protection sold credit derivatives and credit related notes ratings/maturity profile | ||
Fair value of receivables | 18,552 | 25,767 |
Trading assets | Noninvestment-grade | ||
Protection sold credit derivatives and credit related notes ratings/maturity profile | ||
Fair value of receivables | 17,189 | 20,677 |
Trading liabilities | ||
Protection sold credit derivatives and credit related notes ratings/maturity profile | ||
Fair value of payables | (17,473) | (28,769) |
Trading liabilities | Investment-grade | ||
Protection sold credit derivatives and credit related notes ratings/maturity profile | ||
Fair value of payables | (3,734) | (6,314) |
Trading liabilities | Noninvestment-grade | ||
Protection sold credit derivatives and credit related notes ratings/maturity profile | ||
Fair value of payables | $ (13,739) | $ (22,455) |
Noninterest Revenue (Details)
Noninterest Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Components of investment banking fees [Abstract] | ||||
Underwriting | $ 1,365 | $ 1,353 | $ 2,617 | $ 2,389 |
Advisory | 468 | 398 | 1,010 | 782 |
Total investment banking fees | 1,833 | 1,751 | 3,627 | 3,171 |
Principal transactions revenue | ||||
Trading revenue | 2,765 | 2,677 | 6,297 | 5,577 |
Private equity gains | 69 | 231 | 192 | 653 |
Principal transactions | 2,834 | 2,908 | 6,489 | 6,230 |
Asset management: | ||||
Investment management fees | 2,416 | 2,260 | 4,690 | 4,356 |
All other asset management fees | 99 | 131 | 198 | 254 |
Asset Management Fees | 2,515 | 2,391 | 4,888 | 4,610 |
Total administration fees | 527 | 564 | 1,034 | 1,091 |
Commission and other fees: | ||||
Brokerage commissions | 592 | 567 | 1,186 | 1,199 |
All other commissions and fees | 381 | 485 | 714 | 943 |
Total commissions and fees | 973 | 1,052 | 1,900 | 2,142 |
Total asset management, administration and commissions | 4,015 | 4,007 | 7,822 | 7,843 |
Operating lease income | 504 | 422 | 973 | 820 |
Interest rate | ||||
Principal transactions revenue | ||||
Trading revenue | 420 | 626 | 1,306 | 981 |
Credit | ||||
Principal transactions revenue | ||||
Trading revenue | 624 | 603 | 1,039 | 1,129 |
Foreign exchange | ||||
Principal transactions revenue | ||||
Trading revenue | 563 | 342 | 1,407 | 868 |
Equity | ||||
Principal transactions revenue | ||||
Trading revenue | 908 | 759 | 1,956 | 1,564 |
Commodity | ||||
Principal transactions revenue | ||||
Trading revenue | 250 | 347 | 589 | 1,035 |
Equity securities | ||||
Components of investment banking fees [Abstract] | ||||
Underwriting | 452 | 477 | 851 | 830 |
Debt securities | ||||
Components of investment banking fees [Abstract] | ||||
Underwriting | $ 913 | $ 876 | $ 1,766 | $ 1,559 |
Interest income and interest 84
Interest income and interest expense (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Interest income | ||||
Loans | $ 8,079 | $ 8,039 | $ 16,026 | $ 16,078 |
Taxable securities | 1,608 | 1,940 | 3,332 | 3,840 |
Non-taxable securities | 423 | 337 | 821 | 654 |
Total securities | 2,031 | 2,277 | 4,153 | 4,494 |
Trading assets | 1,736 | 1,827 | 3,470 | 3,598 |
Federal funds sold and securities purchased under resale agreements | 340 | 398 | 736 | 834 |
Securities borrowed | (159) | (131) | (279) | (219) |
Deposits with banks | 312 | 279 | 653 | 535 |
Other assets | 175 | 172 | 320 | 334 |
Total interest income | 12,514 | 12,861 | 25,079 | 25,654 |
Interest expense | ||||
Interest-bearing deposits | 308 | 417 | 672 | 843 |
Short-term and other liabilities | 344 | 455 | 676 | 883 |
Long-term debt | 1,068 | 1,086 | 2,162 | 2,253 |
Beneficial interests issued by consolidated VIEs | 110 | 105 | 208 | 210 |
Total interest expense | 1,830 | 2,063 | 3,718 | 4,189 |
Net interest income | 10,684 | 10,798 | 21,361 | 21,465 |
Provision for credit losses | 935 | 692 | 1,894 | 1,542 |
Net interest income after provision for credit losses | $ 9,749 | $ 10,106 | $ 19,467 | $ 19,923 |
Pension and other postretirem85
Pension and other postretirement employee benefit plans - Net Periodic Benefit Costs (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Pension plans, U.S. | ||||
Amortization: | ||||
Total defined contribution plans | $ 115 | $ 110 | $ 204 | $ 218 |
Pension plans, Non-U.S. | ||||
Amortization: | ||||
Total defined contribution plans | 86 | 87 | 169 | 167 |
Pension plans, U.S. | ||||
Components of net periodic benefit cost | ||||
Benefits earned during the period | 85 | 70 | 170 | 140 |
Interest cost on benefit obligations | 125 | 134 | 250 | 268 |
Expected return on plan assets | (233) | (246) | (465) | (492) |
Amortization: | ||||
Net (gain)/loss | 61 | 7 | 123 | 13 |
Prior service cost/(credit) | (8) | (12) | (17) | (22) |
Net periodic defined benefit cost | 30 | (47) | 61 | (93) |
Other defined benefit pension plans | 4 | 4 | 7 | 7 |
Total defined benefit plans | 34 | (43) | 68 | (86) |
Total pension and OPEB cost included in compensation expense | 149 | 67 | 272 | 132 |
Pension plans, Non-U.S. | ||||
Components of net periodic benefit cost | ||||
Benefits earned during the period | 10 | 8 | 19 | 17 |
Interest cost on benefit obligations | 28 | 36 | 56 | 70 |
Expected return on plan assets | (37) | (45) | (75) | (89) |
Amortization: | ||||
Net (gain)/loss | 9 | 12 | 18 | 24 |
Prior service cost/(credit) | (1) | 0 | (1) | 0 |
Net periodic defined benefit cost | 9 | 11 | 17 | 22 |
Other defined benefit pension plans | 0 | 1 | 5 | 3 |
Total defined benefit plans | 9 | 12 | 22 | 25 |
Total pension and OPEB cost included in compensation expense | 95 | 99 | 191 | 192 |
OPEB plans | ||||
Components of net periodic benefit cost | ||||
Benefits earned during the period | 0 | 0 | 0 | 0 |
Interest cost on benefit obligations | 8 | 9 | 16 | 18 |
Expected return on plan assets | (27) | (25) | (53) | (50) |
Amortization: | ||||
Net (gain)/loss | 0 | 0 | 0 | 0 |
Prior service cost/(credit) | 0 | 0 | 0 | 0 |
Net periodic defined benefit cost | (19) | (16) | (37) | (32) |
Total defined benefit plans | (19) | (16) | (37) | (32) |
Total pension and OPEB cost included in compensation expense | $ (19) | $ (16) | $ (37) | $ (32) |
Pension and other postretirem86
Pension and other postretirement employee benefit plans (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
U S Defined Benefit Pension And OPEB Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of plan assets | $ 16,600 | $ 16,500 |
U.S. non-qualified defined benefit pension plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit pension plan, non-U.S., expected contribution | 33 | |
Pension plans, Non-U.S. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of plan assets | 3,700 | $ 3,700 |
Defined benefit pension plan, non-U.S., expected contribution | 47 | |
OPEB plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit pension plan, non-U.S., expected contribution | $ 2 |
Employee stock-based incentiv87
Employee stock-based incentives - Compensation Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Cost of prior grants of restricted stock units (“RSUs”) and stock appreciation rights (“SARs”) that are amortized over their applicable vesting periods | $ 295 | $ 335 | $ 587 | $ 745 |
Accrual of estimated costs of stock awards to be granted in future periods including those to full-career eligible employees | 215 | 189 | 488 | 397 |
Total noncash compensation expense related to employee stock-based incentive plans | $ 510 | $ 524 | $ 1,075 | $ 1,142 |
Employee stock-based incentiv88
Employee stock-based incentives - RSUs (Details) - 3 months ended Mar. 31, 2015 - Restricted Stock Units (RSUs) - $ / shares shares in Millions | Total |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Grants in period (in shares) | 34 |
Grants in period, weighted average grant date fair value (in dollars per share) | $ 55.91 |
Noninterest Expense (Details)
Noninterest Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Non interest Expense [Line Items] | ||||
FDIC related expense | $ 300 | $ 266 | $ 618 | $ 559 |
Threatened or Pending Litigation | ||||
Non interest Expense [Line Items] | ||||
Loss contingency, loss in period | $ 291 | $ 669 | $ 978 | $ 707 |
Securities - Amortized Costs, F
Securities - Amortized Costs, Fair Value (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Available-for-sale Debt Securities: | ||
Amortized cost | $ 257,916 | $ 288,466 |
Gross unrealized gains | 6,204 | 8,143 |
Gross unrealized losses | 640 | 387 |
Fair value | 263,480 | 296,222 |
Available-for-sale Equity Securities: | ||
Amortized cost | 2,704 | 2,513 |
Gross unrealized gains | 17 | 17 |
Gross unrealized losses | 0 | 0 |
Fair value | 2,721 | 2,530 |
Available-for-sale Securities: | ||
Amortized cost | 260,620 | 290,979 |
Gross unrealized gains | 6,221 | 8,160 |
Gross unrealized losses | 640 | 387 |
Fair value | 266,201 | 298,752 |
Held-to-maturity Securities: | ||
Amortized cost | 51,594 | 49,252 |
Gross unrealized gains | 1,241 | 1,902 |
Gross unrealized losses | 138 | 0 |
Fair value | 52,697 | 51,154 |
Mortgage-backed securities | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 116,358 | 133,598 |
Gross unrealized gains | 3,024 | 3,842 |
Gross unrealized losses | 287 | 118 |
Fair value | 119,095 | 137,322 |
Mortgage-backed securities, U.S. government agencies | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 55,634 | 63,089 |
Gross unrealized gains | 1,887 | 2,302 |
Gross unrealized losses | 206 | 72 |
Fair value | 57,315 | 65,319 |
Mortgage-backed securities, Commercial | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 21,954 | 20,687 |
Gross unrealized gains | 308 | 438 |
Gross unrealized losses | 55 | 17 |
Fair value | 22,207 | 21,108 |
U.S. Treasury and government agencies | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 11,600 | 13,603 |
Gross unrealized gains | 16 | 56 |
Gross unrealized losses | 26 | 14 |
Fair value | 11,590 | 13,645 |
Obligations of U.S. states and municipalities | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 29,986 | 27,841 |
Gross unrealized gains | 1,609 | 2,243 |
Gross unrealized losses | 171 | 16 |
Fair value | 31,424 | 30,068 |
Held-to-maturity Securities: | ||
Amortized cost | 12,400 | 10,200 |
Certificates of deposit | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 427 | 1,103 |
Gross unrealized gains | 2 | 1 |
Gross unrealized losses | 0 | 1 |
Fair value | 429 | 1,103 |
Non-U.S. government debt securities | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 41,837 | 51,492 |
Gross unrealized gains | 999 | 1,272 |
Gross unrealized losses | 44 | 21 |
Fair value | 42,792 | 52,743 |
Corporate debt securities | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 15,540 | 18,158 |
Gross unrealized gains | 310 | 398 |
Gross unrealized losses | 28 | 24 |
Fair value | 15,822 | 18,532 |
Asset-backed securities, Collateralized loan obligations | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 31,337 | 30,229 |
Gross unrealized gains | 108 | 147 |
Gross unrealized losses | 73 | 182 |
Fair value | 31,372 | 30,194 |
Asset-backed securities, Other | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 10,831 | 12,442 |
Gross unrealized gains | 136 | 184 |
Gross unrealized losses | 11 | 11 |
Fair value | 10,956 | 12,615 |
US government-sponsored and enterprises obligations | ||
Available-for-sale Securities: | ||
Fair value | 45,500 | 59,300 |
Held-to-maturity Securities: | ||
Amortized cost | 33,300 | 35,300 |
US Government Corporations and Agencies | ||
Held-to-maturity Securities: | ||
Amortized cost | 5,900 | 3,700 |
Residential mortgage-backed securities | Residential mortgage-backed securities, Prime and Alt-A | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 6,499 | 5,595 |
Gross unrealized gains | 55 | 78 |
Gross unrealized losses | 21 | 29 |
Fair value | 6,533 | 5,644 |
Residential mortgage-backed securities | Residential mortgage-backed securities, Subprime | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 494 | 677 |
Gross unrealized gains | 11 | 14 |
Gross unrealized losses | 0 | 0 |
Fair value | 505 | 691 |
Residential mortgage-backed securities | Residential mortgage-backed securities, Non-U.S. | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 31,777 | 43,550 |
Gross unrealized gains | 763 | 1,010 |
Gross unrealized losses | 5 | 0 |
Fair value | $ 32,535 | $ 44,560 |
Securities - Continuous Unreali
Securities - Continuous Unrealized Loss Position (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Held-to-maturity Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | $ 7,447 | $ 0 |
Less than 12 months, Gross unrealized losses | 138 | 0 |
12 months or more, Fair value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 7,447 | 0 |
Total gross unrealized losses | 138 | 0 |
Investment Securities, Continuous Unrealized Loss Position: | ||
Less than 12 months, Fair value | 59,783 | 41,720 |
Less than 12 months, Gross unrealized losses | 669 | 173 |
12 months or more, Fair value | 10,410 | 15,614 |
12 months or more, Gross unrealized losses | 109 | 214 |
Total fair value | 70,193 | 57,334 |
Total gross unrealized losses | 778 | 387 |
Debt securities | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 52,336 | 41,720 |
Less than 12 months, Gross unrealized losses | 531 | 173 |
12 months or more, Fair Value | 10,410 | 15,614 |
12 months or more, Gross unrealized losses | 109 | 214 |
Total fair value | 62,746 | 57,334 |
Total gross unrealized losses | 640 | 387 |
Mortgage-backed securities | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 19,450 | 7,761 |
Less than 12 months, Gross unrealized losses | 262 | 30 |
12 months or more, Fair Value | 1,228 | 5,486 |
12 months or more, Gross unrealized losses | 25 | 88 |
Total fair value | 20,678 | 13,247 |
Total gross unrealized losses | 287 | 118 |
Mortgage-backed securities, U.S. government agencies | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 6,755 | 1,118 |
Less than 12 months, Gross unrealized losses | 186 | 5 |
12 months or more, Fair Value | 913 | 4,989 |
12 months or more, Gross unrealized losses | 20 | 67 |
Total fair value | 7,668 | 6,107 |
Total gross unrealized losses | 206 | 72 |
Mortgage-backed securities, Commercial | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 8,607 | 4,803 |
Less than 12 months, Gross unrealized losses | 55 | 15 |
12 months or more, Fair Value | 0 | 92 |
12 months or more, Gross unrealized losses | 0 | 2 |
Total fair value | 8,607 | 4,895 |
Total gross unrealized losses | 55 | 17 |
U.S. Treasury and government agencies | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 8,778 | 8,412 |
Less than 12 months, Gross unrealized losses | 26 | 14 |
12 months or more, Fair Value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 8,778 | 8,412 |
Total gross unrealized losses | 26 | 14 |
Obligations of U.S. states and municipalities | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 7,284 | 1,405 |
Less than 12 months, Gross unrealized losses | 162 | 15 |
12 months or more, Fair Value | 181 | 130 |
12 months or more, Gross unrealized losses | 9 | 1 |
Total fair value | 7,465 | 1,535 |
Total gross unrealized losses | 171 | 16 |
Certificates of deposit | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 0 | 1,050 |
Less than 12 months, Gross unrealized losses | 0 | 1 |
12 months or more, Fair Value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 0 | 1,050 |
Total gross unrealized losses | 0 | 1 |
Non-U.S. government debt securities | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 3,527 | 4,433 |
Less than 12 months, Gross unrealized losses | 35 | 4 |
12 months or more, Fair Value | 240 | 906 |
12 months or more, Gross unrealized losses | 9 | 17 |
Total fair value | 3,767 | 5,339 |
Total gross unrealized losses | 44 | 21 |
Corporate debt securities | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 1,963 | 2,492 |
Less than 12 months, Gross unrealized losses | 23 | 22 |
12 months or more, Fair Value | 549 | 80 |
12 months or more, Gross unrealized losses | 5 | 2 |
Total fair value | 2,512 | 2,572 |
Total gross unrealized losses | 28 | 24 |
Asset-backed securities, Collateralized loan obligations | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 8,933 | 13,909 |
Less than 12 months, Gross unrealized losses | 13 | 76 |
12 months or more, Fair Value | 8,132 | 9,012 |
12 months or more, Gross unrealized losses | 60 | 106 |
Total fair value | 17,065 | 22,921 |
Total gross unrealized losses | 73 | 182 |
Asset-backed securities, Other | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 2,401 | 2,258 |
Less than 12 months, Gross unrealized losses | 10 | 11 |
12 months or more, Fair Value | 80 | 0 |
12 months or more, Gross unrealized losses | 1 | 0 |
Total fair value | 2,481 | 2,258 |
Total gross unrealized losses | 11 | 11 |
Equity securities | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 0 | 0 |
Less than 12 months, Gross unrealized losses | 0 | 0 |
12 months or more, Fair Value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 0 | 0 |
Total gross unrealized losses | 0 | 0 |
Residential mortgage-backed securities | Residential mortgage-backed securities, Prime and Alt-A | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 2,801 | 1,840 |
Less than 12 months, Gross unrealized losses | 16 | 10 |
12 months or more, Fair Value | 315 | 405 |
12 months or more, Gross unrealized losses | 5 | 19 |
Total fair value | 3,116 | 2,245 |
Total gross unrealized losses | 21 | 29 |
Residential mortgage-backed securities | Residential mortgage-backed securities, Subprime | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 0 | 0 |
Less than 12 months, Gross unrealized losses | 0 | 0 |
12 months or more, Fair Value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 0 | 0 |
Total gross unrealized losses | 0 | 0 |
Residential mortgage-backed securities | Residential mortgage-backed securities, Non-U.S. | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 1,287 | 0 |
Less than 12 months, Gross unrealized losses | 5 | 0 |
12 months or more, Fair Value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 1,287 | 0 |
Total gross unrealized losses | $ 5 | $ 0 |
Securities - Realized Gain (Los
Securities - Realized Gain (Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | ||
Securities gains and losses | |||||
Realized gains | $ 94 | $ 76 | $ 185 | $ 224 | |
Realized losses | (49) | (64) | (87) | (180) | |
Total credit losses recognized in income | (1) | 0 | (2) | (2) | |
Net securities gains | [1] | 44 | 12 | 96 | 42 |
Credit related | |||||
Securities gains and losses | |||||
Total credit losses recognized in income | 0 | 0 | (1) | 0 | |
Intent to sell | |||||
Securities gains and losses | |||||
Total credit losses recognized in income | $ (1) | $ 0 | $ (1) | $ (2) | |
[1] | (a)The Firm recognized other-than-temporary impairment (“OTTI”) losses of $1 million for the three months ended June 30, 2015, and $2 million for each of the six months ended June 30, 2015 and 2014. The Firm did not recognize OTTI losses for the three months ended June 30, 2014. |
Securities - Changes in Credit
Securities - Changes in Credit Loss (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Changes in the credit loss component of credit-impaired debt securities, securities with no intent to sell [Abstract] | ||||
Balance, beginning of period | $ 4 | $ 1 | $ 3 | $ 1 |
Additions: | ||||
Newly credit-impaired securities | 0 | 0 | 1 | 0 |
Balance, end of period | $ 4 | $ 1 | $ 4 | $ 1 |
Securities - Amortized Cost, Fa
Securities - Amortized Cost, Fair Value, by Contract Maturity (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ||
Due in 1 year or less, amortized cost | $ 15,827 | |
Due after 1 year through 5 years, amortized cost | 34,430 | |
Due after 5 years through 10 years, amortized cost | 58,963 | |
Due after 10 years, amortized cost | 148,696 | |
Amortized cost | 257,916 | $ 288,466 |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ||
Due in 1 year or less, fair value | 15,895 | |
Due after 1 year through 5 years, fair value | 35,157 | |
Due after 5 years through 10 years, fair value | 59,868 | |
Due after 10 years, fair value | 152,560 | |
Available-for-sale, debt maturities, fair value, total | $ 263,480 | 296,222 |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ||
Due in 1 year or less, average yield | 2.77% | |
Due after 1 year through 5 years, average yield | 1.95% | |
Due after 5 years through 10 years, average yield | 1.54% | |
Due after 10 years, average yield | 3.51% | |
Available-for-sale, debt maturities, average yield, total | 2.80% | |
Available-for-sale Securities, Equity Maturities, Single Maturity Date, Amortized Cost Basis: | ||
Due in 1 year or less, amortized cost | $ 0 | |
Due after 1 year through 5 years, amortized cost | 0 | |
Due after 5 years through 10 years, amortized cost | 0 | |
Due after 10 years, amortized cost | 2,704 | |
Equity maturities, amortized cost, total | 2,704 | |
Available-for-sale Securities, Equity Maturities, Single Maturity Date, Fair Value: | ||
Due in 1 year or less, fair value | 0 | |
Due after 1 year through 5 years, fair value | 0 | |
Due after 5 years through 10 years, fair value | 0 | |
Due after 10 years, fair value | 2,721 | |
Available-for-sale securities, equity maturities, fair value, total | $ 2,721 | |
Available For Sale Securities, Equity Maturities, Single Maturity Date, Average Yield: | ||
Due in 1 year or less, average yield | 0.00% | |
Due after 1 year through 5 years, average yield | 0.00% | |
Due after 5 years through 10 years, average yield | 0.00% | |
Due after 10 years, average yield | 0.20% | |
Available-for-sale securities, equity maturities, average yield, total | 0.20% | |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ||
Due in 1 year or less, amortized cost | $ 15,827 | |
Due after 1 year through 5 years, amortized cost | 34,430 | |
Due after 5 years through 10 years, amortized cost | 58,963 | |
Due after 10 years, amortized cost | 151,400 | |
Amortized cost | 260,620 | 290,979 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ||
Due in 1 year or less, fair value | 15,895 | |
Due after 1 year through 5 years, fair value | 35,157 | |
Due after 5 years through 10 years, fair value | 59,868 | |
Due after 10 years, fair value | 155,281 | |
Fair value | $ 266,201 | 298,752 |
Available For Sale Securities, Maturities, Single Maturity Date, Average Yield: | ||
Due in 1 year or less, average yield | 2.77% | |
Due after 1 year through 5 years, average yield | 1.95% | |
Due after 5 years through 10 years, average yield | 1.54% | |
Due after 10 years, average yield | 3.45% | |
Available-for-sale securities, maturities, average yield, total | 2.78% | |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ||
Due in 1 year or less, amortized cost | $ 0 | |
Due after 1 year through 5 years, amortized cost | 53 | |
Due after 5 years through 10 years, amortized cost | 643 | |
Due after 10 years, amortized cost | 50,898 | |
Amortized cost | 51,594 | 49,252 |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Fair Value: | ||
Due in 1 year or less, fair value | 0 | |
Due after 1 year through 5 years, fair value | 52 | |
Due after 5 years through 10 years, fair value | 666 | |
Due after 10 years, fair value | 51,979 | |
Held-to-maturity Securities, Fair Value | $ 52,697 | 51,154 |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Average Yield [Abstract] | ||
Due in 1 year or less, average yield | 0.00% | |
Due after 1 year through 5 years, average yield | 4.35% | |
Due after 5 years through 10 years, average yield | 4.86% | |
Due after 10 years, average yield | 3.96% | |
Held-to-maturity securities, maturities, average yield, total | 3.97% | |
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 | |
U.S. nonagency residential collateralized mortgage obligations estimated duration | 5 years | |
Minimum | ||
Supplemental information | ||
Due period of mortgage-backed securities and collateralized mortgage obligations | 10 years | |
Mortgage-backed securities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ||
Due in 1 year or less, amortized cost | $ 2,132 | |
Due after 1 year through 5 years, amortized cost | 11,625 | |
Due after 5 years through 10 years, amortized cost | 5,621 | |
Due after 10 years, amortized cost | 96,980 | |
Amortized cost | 116,358 | 133,598 |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ||
Due in 1 year or less, fair value | 2,144 | |
Due after 1 year through 5 years, fair value | 11,864 | |
Due after 5 years through 10 years, fair value | 5,821 | |
Due after 10 years, fair value | 99,266 | |
Available-for-sale, debt maturities, fair value, total | $ 119,095 | 137,322 |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ||
Due in 1 year or less, average yield | 1.47% | |
Due after 1 year through 5 years, average yield | 1.76% | |
Due after 5 years through 10 years, average yield | 3.21% | |
Due after 10 years, average yield | 3.06% | |
Available-for-sale, debt maturities, average yield, total | 2.91% | |
U.S. Treasury and government agencies | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ||
Due in 1 year or less, amortized cost | $ 600 | |
Due after 1 year through 5 years, amortized cost | 0 | |
Due after 5 years through 10 years, amortized cost | 9,937 | |
Due after 10 years, amortized cost | 1,063 | |
Amortized cost | 11,600 | 13,603 |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ||
Due in 1 year or less, fair value | 602 | |
Due after 1 year through 5 years, fair value | 0 | |
Due after 5 years through 10 years, fair value | 9,914 | |
Due after 10 years, fair value | 1,074 | |
Available-for-sale, debt maturities, fair value, total | $ 11,590 | 13,645 |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ||
Due in 1 year or less, average yield | 1.53% | |
Due after 1 year through 5 years, average yield | 0.00% | |
Due after 5 years through 10 years, average yield | 0.19% | |
Due after 10 years, average yield | 0.41% | |
Available-for-sale, debt maturities, average yield, total | 0.28% | |
Obligations of U.S. states and municipalities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ||
Due in 1 year or less, amortized cost | $ 159 | |
Due after 1 year through 5 years, amortized cost | 743 | |
Due after 5 years through 10 years, amortized cost | 1,297 | |
Due after 10 years, amortized cost | 27,787 | |
Amortized cost | 29,986 | 27,841 |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ||
Due in 1 year or less, fair value | 164 | |
Due after 1 year through 5 years, fair value | 761 | |
Due after 5 years through 10 years, fair value | 1,360 | |
Due after 10 years, fair value | 29,139 | |
Available-for-sale, debt maturities, fair value, total | $ 31,424 | 30,068 |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ||
Due in 1 year or less, average yield | 6.33% | |
Due after 1 year through 5 years, average yield | 3.21% | |
Due after 5 years through 10 years, average yield | 5.62% | |
Due after 10 years, average yield | 6.68% | |
Available-for-sale, debt maturities, average yield, total | 6.54% | |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ||
Amortized cost | $ 12,400 | 10,200 |
Certificates of deposit | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ||
Due in 1 year or less, amortized cost | 375 | |
Due after 1 year through 5 years, amortized cost | 52 | |
Due after 5 years through 10 years, amortized cost | 0 | |
Due after 10 years, amortized cost | 0 | |
Amortized cost | 427 | 1,103 |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ||
Due in 1 year or less, fair value | 376 | |
Due after 1 year through 5 years, fair value | 53 | |
Due after 5 years through 10 years, fair value | 0 | |
Due after 10 years, fair value | 0 | |
Available-for-sale, debt maturities, fair value, total | $ 429 | 1,103 |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ||
Due in 1 year or less, average yield | 5.64% | |
Due after 1 year through 5 years, average yield | 3.28% | |
Due after 5 years through 10 years, average yield | 0.00% | |
Due after 10 years, average yield | 0.00% | |
Available-for-sale, debt maturities, average yield, total | 5.36% | |
Non-U.S. government debt securities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ||
Due in 1 year or less, amortized cost | $ 8,631 | |
Due after 1 year through 5 years, amortized cost | 13,015 | |
Due after 5 years through 10 years, amortized cost | 17,777 | |
Due after 10 years, amortized cost | 2,414 | |
Amortized cost | 41,837 | 51,492 |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ||
Due in 1 year or less, fair value | 8,651 | |
Due after 1 year through 5 years, fair value | 13,305 | |
Due after 5 years through 10 years, fair value | 18,297 | |
Due after 10 years, fair value | 2,539 | |
Available-for-sale, debt maturities, fair value, total | $ 42,792 | 52,743 |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ||
Due in 1 year or less, average yield | 3.28% | |
Due after 1 year through 5 years, average yield | 1.87% | |
Due after 5 years through 10 years, average yield | 0.99% | |
Due after 10 years, average yield | 0.87% | |
Available-for-sale, debt maturities, average yield, total | 1.73% | |
Corporate debt securities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ||
Due in 1 year or less, amortized cost | $ 3,417 | |
Due after 1 year through 5 years, amortized cost | 8,386 | |
Due after 5 years through 10 years, amortized cost | 3,594 | |
Due after 10 years, amortized cost | 143 | |
Amortized cost | 15,540 | 18,158 |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ||
Due in 1 year or less, fair value | 3,443 | |
Due after 1 year through 5 years, fair value | 8,560 | |
Due after 5 years through 10 years, fair value | 3,678 | |
Due after 10 years, fair value | 141 | |
Available-for-sale, debt maturities, fair value, total | $ 15,822 | $ 18,532 |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ||
Due in 1 year or less, average yield | 2.29% | |
Due after 1 year through 5 years, average yield | 2.24% | |
Due after 5 years through 10 years, average yield | 2.63% | |
Due after 10 years, average yield | 4.46% | |
Available-for-sale, debt maturities, average yield, total | 2.36% | |
Asset-backed securities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ||
Due in 1 year or less, amortized cost | $ 513 | |
Due after 1 year through 5 years, amortized cost | 609 | |
Due after 5 years through 10 years, amortized cost | 20,737 | |
Due after 10 years, amortized cost | 20,309 | |
Amortized cost | 42,168 | |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value: | ||
Due in 1 year or less, fair value | 515 | |
Due after 1 year through 5 years, fair value | 614 | |
Due after 5 years through 10 years, fair value | 20,798 | |
Due after 10 years, fair value | 20,401 | |
Available-for-sale, debt maturities, fair value, total | $ 42,328 | |
Available For Sale Securities, Debt Maturities, Single Maturity Date, Average Yield: | ||
Due in 1 year or less, average yield | 0.99% | |
Due after 1 year through 5 years, average yield | 1.55% | |
Due after 5 years through 10 years, average yield | 1.75% | |
Due after 10 years, average yield | 1.77% | |
Available-for-sale, debt maturities, average yield, total | 1.75% |
Securities Financing Activiti95
Securities Financing Activities - Schedule of securities purchased under resale agreements, netting & securities borrowed (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Securities purchased under resale agreements: | ||
Securities purchased under resale agreements with an appropriate legal opinion | $ 375,619 | $ 347,142 |
Amounts netted on the Consolidated balance sheets | (166,295) | (142,719) |
Securities purchased under resale agreements with an appropriate legal opinion, Net asset balance | 209,324 | 204,423 |
Securities purchased under resale agreements where an appropriate legal opinion has not been either sought or obtained | 2,745 | 10,598 |
Total securities purchased under resale agreements, gross asset balance | 378,364 | 357,740 |
Total securities purchased under resale agreements, net asset balance | 212,069 | 215,021 |
Securities borrowed | 98,528 | 110,435 |
Securities borrowed where an appropriate legal opinion has not been either sought or obtained | 19,200 | 27,700 |
Securities Financing Transaction, Fair Value | ||
Securities purchased under resale agreements: | ||
Total securities purchased under resale agreements, net asset balance | 28,700 | 28,600 |
Securities borrowed, fair value | $ 495 | $ 992 |
Securities Financing Activiti96
Securities Financing Activities - Schedule of securities purchased under resale agreements & securities borrowed collateral netting (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Securities purchased under resale agreements with an appropriate legal opinion: | ||
Net asset balance | $ 209,324 | $ 204,423 |
Amounts not nettable on the Consolidated Balance Sheets, Financial instruments | (204,772) | (201,375) |
Amounts not nettable on the Consolidated Balance Sheets, Cash collateral | (142) | (246) |
Net exposure | 4,410 | 2,802 |
Securities borrowed: | ||
Net asset balance | 79,375 | 82,748 |
Amounts not nettable on the Consolidated Balance Sheets, Financial instruments | (76,735) | (80,338) |
Amounts not nettable on the Consolidated Balance Sheets, Cash collateral | 0 | 0 |
Net exposure | $ 2,640 | $ 2,410 |
Securities Financing Activiti97
Securities Financing Activities - Schedule of securities sold under repurchase agreements, netting & securities loaned (Details) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements with an appropriate legal opinion | $ 316,227,000,000 | $ 290,529,000,000 |
Amounts netted on the Consolidated balance sheets | (166,295,000,000) | (142,719,000,000) |
Securities sold under repurchase agreements with an appropriate legal opinion, Net liability balance | 149,932,000,000 | 147,810,000,000 |
Securities sold under repurchase agreements where an appropriate legal opinion has not been either sought or obtained(a) | 15,692,000,000 | 21,996,000,000 |
Total securities sold under repurchase agreements, gross liability balance | 331,919,000,000 | 312,525,000,000 |
Total securities sold under repurchase agreements, net liability balance | 165,624,000,000 | 169,806,000,000 |
Securities loaned including not subject to master netting arrangement | 19,368,000,000 | 25,927,000,000 |
Securities loaned where an appropriate legal opinion has not been either sought or obtained | 189,000,000 | 271,000,000 |
Securities-For-Securities Borrow Versus Pledge Transactions | ||
Securities Financing Transaction [Line Items] | ||
Securities loaned | 5,100,000,000 | 4,100,000,000 |
Securities Financing Transaction, Fair Value | ||
Securities Financing Transaction [Line Items] | ||
Total securities sold under repurchase agreements, net liability balance | 3,600,000,000 | 3,000,000,000 |
Securities loaned | $ 0 | $ 0 |
Securities Financing Activiti98
Securities Financing Activities - Schedule of securities sold under repurchase agreements & securities loaned collateral netting (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Securities sold under repurchase agreements with an appropriate legal opinion: | ||
Net liability balance | $ 149,932 | $ 147,810 |
Amounts not nettable on the Consolidated balance sheets, Financial Instruments | (146,975) | (145,732) |
Amounts not nettable on the Consolidated balance sheets, Cash collateral | (443) | (497) |
Net amount | 2,514 | 1,581 |
Securities loaned: | ||
Net liability | 19,179 | 25,656 |
Amounts not nettable on the Consolidated balance sheets, Financial Instruments | (19,054) | (25,287) |
Amounts not nettable on the Consolidated balance sheets, Cash collateral | 0 | 0 |
Net amount | $ 125 | $ 369 |
Securities Financing Activiti99
Securities Financing Activities Securities Financing Activities - Schedule of secured financing transactions by assets pledged & remaining maturity (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | $ 331,919 | $ 312,525 |
Securities loaned, gross | 19,368 | $ 25,927 |
Remaining maturity, Overnight and Continuous | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 118,368 | |
Securities loaned, gross | 7,055 | |
Remaining maturity, Up to 30 days | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 127,483 | |
Securities loaned, gross | 838 | |
Remaining maturity, 30 - 90 days | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 28,003 | |
Securities loaned, gross | 0 | |
Remaining maturity, Greater than 90 days | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 58,065 | |
Securities loaned, gross | 11,475 | |
Mortgage-backed securities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 21,387 | |
Securities loaned, gross | 0 | |
U.S. Treasury and government agencies | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 166,724 | |
Securities loaned, gross | 23 | |
Obligations of U.S. states and municipalities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 2,031 | |
Securities loaned, gross | 0 | |
Non-U.S. government debt | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 90,644 | |
Securities loaned, gross | 1,027 | |
Corporate debt securities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 26,878 | |
Securities loaned, gross | 92 | |
Asset-backed securities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 5,262 | |
Securities loaned, gross | 0 | |
Equity securities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 18,993 | |
Securities loaned, gross | $ 18,226 |
Securities Financing Activit100
Securities Financing Activities Securities Financing Activities - Schedule of transfers not qualifying for sale accounting (Details) - USD ($) $ in Billions | Jun. 30, 2015 | Dec. 31, 2014 |
Securities Financing Transactions Disclosures [Abstract] | ||
Transfers not qualifying for sale accounting | $ 11.5 | $ 13.8 |
Loans - By Portfolio Segment (D
Loans - By Portfolio Segment (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Loan balances by portfolio segment: | |||
Total retained loans | $ 779,705 | $ 747,508 | $ 735,369 |
Held-for-sale | 9,111 | 7,217 | |
At fair value | 2,431 | 2,611 | |
Loans | 791,247 | 757,336 | |
Loans and leases receivable deferred costs | 919 | 1,300 | |
Consumer, excluding credit card | |||
Loan balances by portfolio segment: | |||
Total retained loans | 316,781 | 294,979 | 288,214 |
Held-for-sale | 1,505 | 395 | |
At fair value | 0 | 0 | |
Loans | 318,286 | 295,374 | |
Credit card | |||
Loan balances by portfolio segment: | |||
Total retained loans | 124,705 | 128,027 | 125,621 |
Held-for-sale | 1,320 | 3,021 | |
At fair value | 0 | 0 | |
Loans | 126,025 | 131,048 | |
Wholesale | |||
Loan balances by portfolio segment: | |||
Total retained loans | 338,219 | 324,502 | $ 321,534 |
Held-for-sale | 6,286 | 3,801 | |
At fair value | 2,431 | 2,611 | |
Loans | $ 346,936 | $ 330,914 |
Loans - Purchased, Sold and Rec
Loans - Purchased, Sold and Reclassified to Held-for-Sale (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Loans and Leases Receivable Disclosure [Line Items] | ||||
Purchases | $ 1,601 | $ 2,323 | $ 3,417 | $ 4,026 |
Sales | 5,375 | 3,675 | 9,737 | 6,922 |
Retained loans reclassified to held-for-sale | 1,369 | 1,229 | 1,707 | 1,526 |
Consumer, excluding credit card | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Purchases | 1,114 | 2,167 | 2,722 | 3,749 |
Sales | 1,207 | 1,352 | 2,943 | 2,243 |
Retained loans reclassified to held-for-sale | 1,254 | 802 | 1,272 | 802 |
Excluded retained loans purchased from correspondents that were originated in accordance with the Firm's underwriting standards | 14,200 | 2,400 | 25,400 | 4,100 |
Credit card | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 1,092 | 0 | 1,269 | 0 |
Retained loans reclassified to held-for-sale | 0 | 215 | 0 | 215 |
Wholesale | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Purchases | 487 | 156 | 695 | 277 |
Sales | 3,076 | 2,323 | 5,525 | 4,679 |
Retained loans reclassified to held-for-sale | $ 115 | $ 212 | $ 435 | $ 509 |
Loans - Net Gains and Losses on
Loans - Net Gains and Losses on Sale (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) | $ 84 | $ 87 | $ 185 | $ 153 |
Consumer, excluding credit card | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) | 86 | 84 | 177 | 126 |
Credit card | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) | (7) | 0 | 9 | 0 |
Wholesale | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) | $ 5 | $ 3 | $ (1) | $ 27 |
Loans - Consumer, Excluding Cre
Loans - Consumer, Excluding Credit Card Loans (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 779,705 | $ 747,508 | $ 735,369 |
Consumer, excluding credit card | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 316,781 | 294,979 | $ 288,214 |
Consumer, excluding credit card | Home equity - senior lien | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 15,541 | 16,367 | |
Consumer, excluding credit card | Home equity - junior lien | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 33,434 | 36,375 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 132,556 | 104,921 | |
Consumer, excluding credit card | Mortgages - subprime | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,976 | 5,056 | |
Consumer, excluding credit card | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 56,330 | 54,536 | |
Consumer, excluding credit card | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 20,564 | 20,058 | |
Consumer, excluding credit card | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 10,574 | 10,970 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 16,088 | 17,095 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 9,553 | 10,220 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,449 | 3,673 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 14,716 | $ 15,708 |
Loans - Consumer, Excluding 105
Loans - Consumer, Excluding Credit Card Loans, Residential Real Estate, Excluding PCI Loans (Details) - USD ($) | 6 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 779,705,000,000 | $ 747,508,000,000 | $ 735,369,000,000 |
Consumer, excluding credit card | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 316,781,000,000 | 294,979,000,000 | $ 288,214,000,000 |
Consumer, excluding credit card | Home equity - senior lien | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 15,541,000,000 | $ 16,367,000,000 | |
% of 30 days past due to total retained loans | 3.80% | 3.89% | |
Consumer, excluding credit card | Home equity - senior lien | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 2,135,000,000 | $ 2,232,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 2,699,000,000 | 2,805,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,244,000,000 | 1,306,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | Texas | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,703,000,000 | 1,845,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 829,000,000 | 861,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 641,000,000 | 654,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | Arizona | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 868,000,000 | 927,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | Washington | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 474,000,000 | 506,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | Michigan | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 694,000,000 | 736,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | Ohio | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,084,000,000 | 1,150,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | All other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,170,000,000 | 3,345,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | Current and less than 30 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 14,950,000,000 | 15,730,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | Days Past Due, 30 to 149 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 243,000,000 | 275,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | 150 days past due | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 348,000,000 | 362,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | Nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 907,000,000 | 938,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | U.S. government-guaranteed | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 0 | 0 | |
Consumer, excluding credit card | Home equity - senior lien | U.S. government-guaranteed | Days Past Due, 90 or More | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 0 | 0 | |
Consumer, excluding credit card | Home equity - senior lien | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 16,000,000 | 21,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 7,000,000 | 10,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 100,000,000 | 134,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 54,000,000 | 69,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 506,000,000 | 633,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 188,000,000 | 226,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 12,571,000,000 | 13,048,000,000 | |
Consumer, excluding credit card | Home equity - senior lien | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 2,099,000,000 | 2,226,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 33,434,000,000 | $ 36,375,000,000 | |
% of 30 days past due to total retained loans | 2.06% | 2.20% | |
Consumer, excluding credit card | Home equity - junior lien | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 7,455,000,000 | $ 8,144,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 7,125,000,000 | 7,685,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 2,411,000,000 | 2,605,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | Texas | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,007,000,000 | 1,087,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,759,000,000 | 1,923,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 2,083,000,000 | 2,233,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | Arizona | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,462,000,000 | 1,595,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | Washington | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,111,000,000 | 1,216,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | Michigan | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 771,000,000 | 848,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | Ohio | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 704,000,000 | 778,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | All other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 7,546,000,000 | 8,261,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | Current and less than 30 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 32,746,000,000 | 35,575,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | Days Past Due, 30 to 149 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 442,000,000 | 533,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | 150 days past due | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 246,000,000 | 267,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | Nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,461,000,000 | 1,590,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | U.S. government-guaranteed | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 0 | 0 | |
Consumer, excluding credit card | Home equity - junior lien | U.S. government-guaranteed | Days Past Due, 90 or More | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 0 | 0 | |
Consumer, excluding credit card | Home equity - junior lien | Minimum | U.S. government-guaranteed | Days Past Due, 30 to 149 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Period past due, credit analysis factors, charge off criteria | 30 days | ||
Consumer, excluding credit card | Home equity - junior lien | Minimum | U.S. government-guaranteed | 150 days past due | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Period past due, credit analysis factors, charge off criteria | 150 days | ||
Consumer, excluding credit card | Home equity - junior lien | Maximum | U.S. government-guaranteed | Days Past Due, 30 to 149 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Period past due, credit analysis factors, charge off criteria | 149 days | ||
Consumer, excluding credit card | Home equity - junior lien | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 310,000,000 | 467,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 81,000,000 | 138,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 2,421,000,000 | 3,149,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 683,000,000 | 923,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 5,551,000,000 | 6,481,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,557,000,000 | 1,780,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 19,555,000,000 | 20,030,000,000 | |
Consumer, excluding credit card | Home equity - junior lien | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,276,000,000 | 3,407,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 132,556,000,000 | $ 104,921,000,000 | |
% of 30 days past due to total retained loans | 0.98% | 1.42% | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 37,253,000,000 | $ 28,133,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 18,428,000,000 | 16,550,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 9,086,000,000 | 6,654,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | Texas | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 6,844,000,000 | 4,935,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 5,737,000,000 | 5,106,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 4,290,000,000 | 3,361,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | Arizona | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 2,445,000,000 | 1,805,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | Washington | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,164,000,000 | 2,410,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | Michigan | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,489,000,000 | 1,203,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | Ohio | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 864,000,000 | 615,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | All other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 42,956,000,000 | 34,149,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | Current and less than 30 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 122,597,000,000 | 93,951,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | Days Past Due, 30 to 149 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,417,000,000 | 4,091,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | 150 days past due | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 6,542,000,000 | 6,879,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | Nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,960,000,000 | 2,190,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | U.S. government-guaranteed | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 11,424,000,000 | 12,110,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | U.S. government-guaranteed | Days Past Due, 90 or More | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 6,805,000,000 | 7,544,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | U.S. government-guaranteed | Days Past Due, 30 or More | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 8,700,000,000 | 9,500,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 98,000,000 | 120,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 67,000,000 | 103,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 455,000,000 | 648,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 265,000,000 | 340,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,188,000,000 | 3,863,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 802,000,000 | 1,026,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 111,229,000,000 | 81,805,000,000 | |
Consumer, excluding credit card | Mortgages - prime, including option ARMS | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 5,028,000,000 | 4,906,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 3,976,000,000 | $ 5,056,000,000 | |
% of 30 days past due to total retained loans | 15.85% | 15.03% | |
Consumer, excluding credit card | Mortgages - subprime | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 558,000,000 | $ 718,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 555,000,000 | 677,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 157,000,000 | 207,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | Texas | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 154,000,000 | 177,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 445,000,000 | 632,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 185,000,000 | 227,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | Arizona | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 79,000,000 | 112,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | Washington | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 88,000,000 | 109,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | Michigan | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 86,000,000 | 121,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | Ohio | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 89,000,000 | 112,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | All other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,580,000,000 | 1,964,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | Current and less than 30 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,346,000,000 | 4,296,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | Days Past Due, 30 to 149 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 405,000,000 | 489,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | 150 days past due | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 225,000,000 | 271,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | Nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 855,000,000 | 1,036,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | U.S. government-guaranteed | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 0 | 0 | |
Consumer, excluding credit card | Mortgages - subprime | U.S. government-guaranteed | Days Past Due, 90 or More | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 0 | 0 | |
Consumer, excluding credit card | Mortgages - subprime | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 4,000,000 | 10,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 25,000,000 | 51,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 43,000,000 | 118,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 163,000,000 | 298,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 199,000,000 | 432,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 516,000,000 | 770,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,418,000,000 | 1,586,000,000 | |
Consumer, excluding credit card | Mortgages - subprime | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,608,000,000 | 1,791,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 185,507,000,000 | $ 162,719,000,000 | |
% of 30 days past due to total retained loans | 1.73% | 2.27% | |
Consumer, excluding credit card | Residential real estate – excluding PCI | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 47,401,000,000 | $ 39,227,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 28,807,000,000 | 27,717,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 12,898,000,000 | 10,772,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | Texas | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 9,708,000,000 | 8,044,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 8,770,000,000 | 8,522,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 7,199,000,000 | 6,475,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | Arizona | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 4,854,000,000 | 4,439,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | Washington | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 4,837,000,000 | 4,241,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | Michigan | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,040,000,000 | 2,908,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | Ohio | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 2,741,000,000 | 2,655,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | All other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 55,252,000,000 | 47,719,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | Current and less than 30 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 173,639,000,000 | 149,552,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | Days Past Due, 30 to 149 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 4,507,000,000 | 5,388,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | 150 days past due | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 7,361,000,000 | 7,779,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | 90 or more days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 0 | 0 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | Nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 5,183,000,000 | 5,754,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | U.S. government-guaranteed | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 11,424,000,000 | 12,110,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | U.S. government-guaranteed | Days Past Due, 90 or More | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 6,805,000,000 | 7,544,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | U.S. government-guaranteed | Current and less than 30 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 2,800,000,000 | 2,600,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | U.S. government-guaranteed | Days Past Due, 30 to 149 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 2,900,000,000 | 3,500,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | U.S. government-guaranteed | 150 days past due | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 5,700,000,000 | 6,000,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | U.S. government-guaranteed | 90 or more days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Period past due, credit analysis factors, charge off criteria | 90 days | ||
Consumer, excluding credit card | Residential real estate – excluding PCI | U.S. government-guaranteed | Nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 4,000,000,000 | 4,200,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 428,000,000 | 618,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 180,000,000 | 302,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,019,000,000 | 4,049,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,165,000,000 | 1,630,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 9,444,000,000 | 11,409,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,063,000,000 | 3,802,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 144,773,000,000 | 116,469,000,000 | |
Consumer, excluding credit card | Residential real estate – excluding PCI | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Less than 660 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 12,011,000,000 | $ 12,330,000,000 |
Loans - Consumer, Excluding 106
Loans - Consumer, Excluding Credit Card Loans, Delinquency Statistics Junior Lien Home Equity Loans (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 779,705 | $ 747,508 | $ 735,369 |
Consumer, excluding credit card | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 316,781 | 294,979 | $ 288,214 |
Consumer, excluding credit card | Home equity - junior lien | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 33,434 | $ 36,375 | |
% of 30 days past due to total retained loans | 2.06% | 2.20% | |
Consumer, excluding credit card | Home equity junior lien, excluding lines of credit | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 2,774 | $ 3,144 | |
% of 30 days past due to total retained loans | 2.70% | 3.34% | |
Consumer, excluding credit card | HELOC, Within the revolving period | Home equity line of credit | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 21,023 | $ 25,252 | |
% of 30 days past due to total retained loans | 1.61% | 1.75% | |
Home equity line of credit, open-ended revolving period | 10 years | ||
Home equity line of credit, amortization period | 20 years | ||
Consumer, excluding credit card | HELOCs, Beyond the revolving period | Home equity line of credit | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 9,637 | $ 7,979 | |
% of 30 days past due to total retained loans | 2.84% | 3.16% |
Loans - Consumer, Excluding 107
Loans - Consumer, Excluding Credit Card Loans, Impaired Loans (Details) - Consumer, excluding credit card $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($)payment | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($) | |
Home equity - senior lien | |||||
Impaired loans: | |||||
With an allowance | $ 556 | $ 556 | $ 552 | ||
Without an allowance | 521 | 521 | 549 | ||
Total impaired loans | 1,077 | 1,077 | 1,101 | ||
Allowance for loan losses related to impaired loans | 79 | 79 | 84 | ||
Unpaid principal balance of impaired loans | 1,410 | 1,410 | 1,451 | ||
Average impaired loans | 1,085 | $ 1,128 | 1,090 | $ 1,135 | |
Interest income on impaired loans | 13 | 14 | 26 | 28 | |
Interest income on impaired loans on a cash basis | 9 | 10 | $ 18 | 19 | |
Home equity - senior lien | Permanent Modification | Regulatory Guidance Regarding Chapter 7 Loans | |||||
Impaired loans: | |||||
Rate of default for modified loans, estimated weighted average | 18.00% | ||||
Home equity - senior lien | Nonaccrual | |||||
Impaired loans: | |||||
Total impaired loans | 609 | $ 609 | 628 | ||
Home equity - junior lien | |||||
Impaired loans: | |||||
With an allowance | 728 | 728 | 722 | ||
Without an allowance | 551 | 551 | 582 | ||
Total impaired loans | 1,279 | 1,279 | 1,304 | ||
Allowance for loan losses related to impaired loans | 132 | 132 | 147 | ||
Unpaid principal balance of impaired loans | 2,516 | 2,516 | 2,603 | ||
Average impaired loans | 1,286 | 1,316 | 1,292 | 1,318 | |
Interest income on impaired loans | 20 | 20 | 40 | 41 | |
Interest income on impaired loans on a cash basis | 13 | 13 | $ 26 | 27 | |
Home equity - junior lien | Permanent Modification | Regulatory Guidance Regarding Chapter 7 Loans | |||||
Impaired loans: | |||||
Rate of default for modified loans, estimated weighted average | 10.00% | ||||
Home equity - junior lien | Nonaccrual | |||||
Impaired loans: | |||||
Total impaired loans | 609 | $ 609 | 632 | ||
Mortgages - prime, including option ARMS | |||||
Impaired loans: | |||||
With an allowance | 4,034 | 4,034 | 4,949 | ||
Without an allowance | 1,059 | 1,059 | 1,196 | ||
Total impaired loans | 5,093 | 5,093 | 6,145 | ||
Allowance for loan losses related to impaired loans | 96 | 96 | 127 | ||
Unpaid principal balance of impaired loans | 6,579 | 6,579 | 7,813 | ||
Average impaired loans | 5,605 | 6,823 | 5,828 | 6,889 | |
Interest income on impaired loans | 55 | 66 | 114 | 134 | |
Interest income on impaired loans on a cash basis | 12 | 14 | $ 24 | 27 | |
Mortgages - prime, including option ARMS | Permanent Modification | Regulatory Guidance Regarding Chapter 7 Loans | |||||
Impaired loans: | |||||
Rate of default for modified loans, estimated weighted average | 22.00% | ||||
Mortgages - prime, including option ARMS | Nonaccrual | |||||
Impaired loans: | |||||
Total impaired loans | 1,433 | $ 1,433 | 1,559 | ||
Mortgages - subprime | |||||
Impaired loans: | |||||
With an allowance | 1,445 | 1,445 | 2,239 | ||
Without an allowance | 506 | 506 | 639 | ||
Total impaired loans | 1,951 | 1,951 | 2,878 | ||
Allowance for loan losses related to impaired loans | 15 | 15 | 64 | ||
Unpaid principal balance of impaired loans | 3,013 | 3,013 | 4,200 | ||
Average impaired loans | 2,548 | 3,578 | 2,684 | 3,623 | |
Interest income on impaired loans | 35 | 47 | 72 | 96 | |
Interest income on impaired loans on a cash basis | 11 | 13 | $ 22 | 26 | |
Mortgages - subprime | Permanent Modification | Regulatory Guidance Regarding Chapter 7 Loans | |||||
Impaired loans: | |||||
Rate of default for modified loans, estimated weighted average | 14.00% | ||||
Mortgages - subprime | Nonaccrual | |||||
Impaired loans: | |||||
Total impaired loans | 752 | $ 752 | 931 | ||
Residential real estate – excluding PCI | |||||
Impaired loans: | |||||
With an allowance | 6,763 | 6,763 | 8,462 | ||
Without an allowance | 2,637 | 2,637 | 2,966 | ||
Total impaired loans | 9,400 | 9,400 | 11,428 | ||
Allowance for loan losses related to impaired loans | 322 | 322 | 422 | ||
Unpaid principal balance of impaired loans | 13,518 | 13,518 | 16,067 | ||
Loans modified subsequent to repurchase from Ginnie Mae | 4,500 | 4,500 | 4,900 | ||
Average impaired loans | 10,524 | 12,845 | 10,894 | 12,965 | |
Interest income on impaired loans | 123 | 147 | 252 | 299 | |
Interest income on impaired loans on a cash basis | 45 | $ 50 | $ 90 | $ 99 | |
Number of payments under modified terms to recognize interest on cash basis | payment | 6 | ||||
Residential real estate – excluding PCI | Nonaccrual | |||||
Impaired loans: | |||||
Total impaired loans | 3,403 | $ 3,403 | 3,750 | ||
Residential real estate – excluding PCI | Current, and Less Than 90 Days Past Due | |||||
Impaired loans: | |||||
Period past due, credit analysis factors, charge off criteria | 90 days | ||||
TDRs not having yet made six payments | $ 2,600 | $ 2,600 | $ 2,900 | ||
Residential real estate – excluding PCI | Minimum | Days Past Due, 30 or More | Regulatory Guidance Regarding Chapter 7 Loans | |||||
Impaired loans: | |||||
Period past due, credit analysis factors, charge off criteria | 30 days |
Loans - Consumer, Excluding 108
Loans - Consumer, Excluding Credit Card Loans, Loan Modifications, New TDRs (Details) - Consumer, excluding credit card - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Residential real estate – excluding PCI | ||||
Financing Receivable, Impaired [Line Items] | ||||
New TDRs | $ 148 | $ 143 | $ 302 | $ 323 |
Home equity - senior lien | ||||
Financing Receivable, Impaired [Line Items] | ||||
New TDRs | 32 | 20 | 58 | 47 |
Home equity - junior lien | ||||
Financing Receivable, Impaired [Line Items] | ||||
New TDRs | 43 | 46 | 89 | 104 |
Mortgages - prime, including option ARMS | ||||
Financing Receivable, Impaired [Line Items] | ||||
New TDRs | 58 | 52 | 121 | 119 |
Mortgages - subprime | ||||
Financing Receivable, Impaired [Line Items] | ||||
New TDRs | $ 15 | $ 25 | $ 34 | $ 53 |
Loans - Consumer, Excluding 109
Loans - Consumer, Excluding Credit Card Loans, Loan Modifications, Nature and Extent of Modifications (Details) - Consumer, excluding credit card - loans | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Residential real estate – excluding PCI | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 74.00% | 75.00% | 73.00% | 72.00% |
Concession granted - Term of payment extension | 84.00% | 79.00% | 84.00% | 80.00% |
Concession granted - Principal and/or interest deferred | 26.00% | 20.00% | 28.00% | 22.00% |
Concession granted - principal forgiveness | 14.00% | 29.00% | 16.00% | 31.00% |
Concession granted - other | 4.00% | 6.00% | 5.00% | 7.00% |
Percentage, sum of items by type, may exceed | 100.00% | |||
Home equity - senior lien | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 75.00% | 64.00% | 75.00% | 65.00% |
Concession granted - Term of payment extension | 85.00% | 86.00% | 83.00% | 83.00% |
Concession granted - Principal and/or interest deferred | 32.00% | 12.00% | 32.00% | 14.00% |
Concession granted - principal forgiveness | 4.00% | 30.00% | 6.00% | 30.00% |
Concession granted - other | 0.00% | 0.00% | 0.00% | 0.00% |
Home equity - junior lien | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 75.00% | 88.00% | 76.00% | 86.00% |
Concession granted - Term of payment extension | 88.00% | 83.00% | 87.00% | 83.00% |
Concession granted - Principal and/or interest deferred | 23.00% | 22.00% | 25.00% | 22.00% |
Concession granted - principal forgiveness | 4.00% | 29.00% | 4.00% | 28.00% |
Concession granted - other | 1.00% | 0.00% | 0.00% | 0.00% |
Mortgages - prime, including option ARMS | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 76.00% | 65.00% | 69.00% | 62.00% |
Concession granted - Term of payment extension | 84.00% | 79.00% | 84.00% | 84.00% |
Concession granted - Principal and/or interest deferred | 36.00% | 30.00% | 36.00% | 32.00% |
Concession granted - principal forgiveness | 23.00% | 22.00% | 26.00% | 27.00% |
Concession granted - other | 8.00% | 18.00% | 8.00% | 17.00% |
Mortgages - subprime | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 71.00% | 68.00% | 71.00% | 63.00% |
Concession granted - Term of payment extension | 78.00% | 71.00% | 80.00% | 72.00% |
Concession granted - Principal and/or interest deferred | 18.00% | 15.00% | 22.00% | 18.00% |
Concession granted - principal forgiveness | 30.00% | 35.00% | 31.00% | 38.00% |
Concession granted - other | 10.00% | 9.00% | 11.00% | 12.00% |
Trial Modification | Residential real estate – excluding PCI | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 1,048 | 1,165 | 2,225 | 2,304 |
Trial Modification | Home equity - senior lien | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 294 | 218 | 650 | 419 |
Trial Modification | Home equity - junior lien | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 93 | 157 | 247 | 341 |
Trial Modification | Mortgages - prime, including option ARMS | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 294 | 261 | 539 | 516 |
Trial Modification | Mortgages - subprime | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 367 | 529 | 789 | 1,028 |
Permanent Modification | Residential real estate – excluding PCI | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 1,698 | 1,804 | 3,318 | 4,355 |
Permanent Modification | Home equity - senior lien | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 314 | 226 | 576 | 521 |
Permanent Modification | Home equity - junior lien | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 642 | 699 | 1,150 | 1,657 |
Permanent Modification | Mortgages - prime, including option ARMS | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 347 | 386 | 708 | 917 |
Permanent Modification | Mortgages - subprime | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 395 | 493 | 884 | 1,260 |
Loans - Consumer, Excluding 110
Loans - Consumer, Excluding Credit Card Loans, Financial Effects of Modifications and Redefaults (Details) - Consumer, excluding credit card $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($)loan_payment | Jun. 30, 2014USD ($) | |
Residential mortgage | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of payments past due for deemed payment | loan_payment | 2 | |||
Permanent Modification | Home equity - senior lien | ||||
Financing Receivable, Impaired [Line Items] | ||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 5.88% | 6.58% | 5.98% | 6.63% |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.89% | 2.93% | 2.81% | 2.98% |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 17 years | 17 years | 17 years | 18 years |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 31 years | 29 years | 31 years | 30 years |
Charge-offs recognized upon permanent modification | $ 0 | $ 0 | $ 0 | $ 1 |
Principal deferred | 4 | 1 | 7 | 2 |
Principal forgiven | 1 | 3 | 2 | 6 |
Balance of loans that redefaulted within one year of permanent modification(a) | $ 4 | $ 4 | $ 6 | $ 10 |
Modifications, weighted-average remaining life | 6 years | |||
Permanent Modification | Home equity - junior lien | ||||
Financing Receivable, Impaired [Line Items] | ||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 4.65% | 4.94% | 4.79% | 4.83% |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.23% | 2.04% | 2.22% | 1.91% |
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 | 33 years | 34 years | 34 years | 35 years |
Charge-offs recognized upon permanent modification | $ 1 | $ 8 | $ 2 | $ 22 |
Principal deferred | 3 | 3 | 6 | 6 |
Principal forgiven | 0 | 6 | 0 | 17 |
Balance of loans that redefaulted within one year of permanent modification(a) | $ 1 | $ 3 | $ 3 | $ 6 |
Modifications, weighted-average remaining life | 8 years | |||
Permanent Modification | Mortgages - prime, including option ARMS | ||||
Financing Receivable, Impaired [Line Items] | ||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 5.15% | 5.17% | 5.09% | 5.20% |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.50% | 2.54% | 2.44% | 2.67% |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 25 years | 25 years | 25 years | 24 years |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 38 years | 37 years | 38 years | 37 years |
Charge-offs recognized upon permanent modification | $ 2 | $ 2 | $ 3 | $ 4 |
Principal deferred | 11 | 10 | 22 | 23 |
Principal forgiven | 7 | 8 | 16 | 25 |
Balance of loans that redefaulted within one year of permanent modification(a) | $ 21 | $ 44 | $ 37 | $ 70 |
Modifications, weighted-average remaining life | 9 years | |||
Permanent Modification | Mortgages - subprime | ||||
Financing Receivable, Impaired [Line Items] | ||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 6.55% | 7.28% | 6.69% | 7.44% |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 3.16% | 3.47% | 3.19% | 3.43% |
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 | 36 years | 35 years | 36 years | 36 years |
Charge-offs recognized upon permanent modification | $ 1 | $ 0 | $ 2 | $ 1 |
Principal deferred | 3 | 4 | 10 | 11 |
Principal forgiven | 7 | 11 | 17 | 32 |
Balance of loans that redefaulted within one year of permanent modification(a) | $ 16 | $ 28 | $ 31 | $ 43 |
Modifications, weighted-average remaining life | 8 years | |||
Permanent Modification | Residential real estate – excluding PCI | ||||
Financing Receivable, Impaired [Line Items] | ||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 5.48% | 5.82% | 5.58% | 5.88% |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.65% | 2.72% | 2.65% | 2.75% |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 22 years | 23 years | 23 years | 23 years |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 35 years | 35 years | 36 years | 36 years |
Charge-offs recognized upon permanent modification | $ 4 | $ 10 | $ 7 | $ 28 |
Principal deferred | 21 | 18 | 45 | 42 |
Principal forgiven | 15 | 28 | 35 | 80 |
Balance of loans that redefaulted within one year of permanent modification(a) | $ 42 | $ 79 | $ 77 | $ 129 |
Maximum | Residential real estate – excluding PCI | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of months before a payment redefault under modified loans | 12 months | |||
Maximum | Business banking | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of years before payment default under a modified loan | 1 year |
Loans - Consumer, Excluding 111
Loans - Consumer, Excluding Credit Card Loans, Other Consumer Loans (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 779,705 | $ 747,508 | $ 735,369 |
Consumer, excluding credit card | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 316,781 | 294,979 | $ 288,214 |
Consumer, excluding credit card | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 56,330 | $ 54,536 | |
% of 30 days past due to total retained loans | 0.95% | 1.23% | |
Consumer, excluding credit card | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 20,564 | $ 20,058 | |
% of 30 days past due to total retained loans | 1.49% | 1.73% | |
Consumer, excluding credit card | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 10,574 | $ 10,970 | |
% of 30 days past due to total retained loans | 1.92% | 2.15% | |
Consumer, excluding credit card | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 87,468 | $ 85,564 | |
% of 30 days past due to total retained loans | 1.20% | 1.47% | |
Consumer, excluding credit card | California | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 6,671 | $ 6,294 | |
Consumer, excluding credit card | California | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,206 | 3,008 | |
Consumer, excluding credit card | California | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,102 | 1,143 | |
Consumer, excluding credit card | California | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 10,979 | 10,445 | |
Consumer, excluding credit card | New York | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,682 | 3,662 | |
Consumer, excluding credit card | New York | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,180 | 3,187 | |
Consumer, excluding credit card | New York | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,236 | 1,259 | |
Consumer, excluding credit card | New York | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 8,098 | 8,108 | |
Consumer, excluding credit card | Illinois | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,366 | 3,175 | |
Consumer, excluding credit card | Illinois | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,388 | 1,373 | |
Consumer, excluding credit card | Illinois | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 706 | 729 | |
Consumer, excluding credit card | Illinois | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 5,460 | 5,277 | |
Consumer, excluding credit card | Texas | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 5,893 | 5,608 | |
Consumer, excluding credit card | Texas | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 2,592 | 2,626 | |
Consumer, excluding credit card | Texas | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 852 | 868 | |
Consumer, excluding credit card | Texas | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 9,337 | 9,102 | |
Consumer, excluding credit card | Florida | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 2,517 | 2,301 | |
Consumer, excluding credit card | Florida | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 899 | 827 | |
Consumer, excluding credit card | Florida | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 528 | 521 | |
Consumer, excluding credit card | Florida | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,944 | 3,649 | |
Consumer, excluding credit card | New Jersey | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,972 | 1,945 | |
Consumer, excluding credit card | New Jersey | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 504 | 451 | |
Consumer, excluding credit card | New Jersey | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 392 | 378 | |
Consumer, excluding credit card | New Jersey | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 2,868 | 2,774 | |
Consumer, excluding credit card | Arizona | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,947 | 2,003 | |
Consumer, excluding credit card | Arizona | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,174 | 1,083 | |
Consumer, excluding credit card | Arizona | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 239 | 239 | |
Consumer, excluding credit card | Arizona | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,360 | 3,325 | |
Consumer, excluding credit card | Washington | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,066 | 1,019 | |
Consumer, excluding credit card | Washington | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 267 | 258 | |
Consumer, excluding credit card | Washington | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 222 | 235 | |
Consumer, excluding credit card | Washington | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,555 | 1,512 | |
Consumer, excluding credit card | Michigan | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,586 | 1,633 | |
Consumer, excluding credit card | Michigan | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,376 | 1,375 | |
Consumer, excluding credit card | Michigan | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 442 | 466 | |
Consumer, excluding credit card | Michigan | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,404 | 3,474 | |
Consumer, excluding credit card | Ohio | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 2,284 | 2,157 | |
Consumer, excluding credit card | Ohio | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,357 | 1,354 | |
Consumer, excluding credit card | Ohio | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 594 | 629 | |
Consumer, excluding credit card | Ohio | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 4,235 | 4,140 | |
Consumer, excluding credit card | All other | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 25,346 | 24,739 | |
Consumer, excluding credit card | All other | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 4,621 | 4,516 | |
Consumer, excluding credit card | All other | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 4,261 | 4,503 | |
Consumer, excluding credit card | All other | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 34,228 | 33,758 | |
Consumer, excluding credit card | In Process of Active or Suspended Foreclosure | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,300 | 1,500 | |
Consumer, excluding credit card | Current and less than 30 days past due and still accruing | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 55,793 | 53,866 | |
Consumer, excluding credit card | Current and less than 30 days past due and still accruing | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 20,258 | 19,710 | |
Consumer, excluding credit card | Current and less than 30 days past due and still accruing | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 9,825 | 10,080 | |
Consumer, excluding credit card | Current and less than 30 days past due and still accruing | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 85,876 | 83,656 | |
Consumer, excluding credit card | Days Past Due, 30 to 119 | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 530 | 663 | |
Consumer, excluding credit card | Days Past Due, 30 to 119 | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 191 | 208 | |
Consumer, excluding credit card | Days Past Due, 30 to 119 | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 485 | 576 | |
Consumer, excluding credit card | Days Past Due, 30 to 119 | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,206 | 1,447 | |
Consumer, excluding credit card | Days Past Due, 120 or More | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 7 | 7 | |
Consumer, excluding credit card | Days Past Due, 120 or More | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 115 | 140 | |
Consumer, excluding credit card | Days Past Due, 120 or More | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 264 | 314 | |
Consumer, excluding credit card | Days Past Due, 120 or More | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 386 | 461 | |
Consumer, excluding credit card | 90 or more days past due and still accruing | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 0 | 0 | |
Consumer, excluding credit card | 90 or more days past due and still accruing | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 0 | 0 | |
Consumer, excluding credit card | 90 or more days past due and still accruing | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 282 | 367 | |
Consumer, excluding credit card | 90 or more days past due and still accruing | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 282 | 367 | |
Consumer, excluding credit card | Nonaccrual | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 97 | 115 | |
Consumer, excluding credit card | Nonaccrual | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 239 | 279 | |
Consumer, excluding credit card | Nonaccrual | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 253 | 270 | |
Consumer, excluding credit card | Nonaccrual | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 589 | 664 | |
Consumer, excluding credit card | Noncriticized | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 10,173 | 9,822 | |
Consumer, excluding credit card | Noncriticized | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 15,012 | 14,619 | |
Consumer, excluding credit card | Noncriticized | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 25,185 | 24,441 | |
Consumer, excluding credit card | Criticized performing | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 83 | 35 | |
Consumer, excluding credit card | Criticized performing | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 744 | 708 | |
Consumer, excluding credit card | Criticized performing | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 827 | 743 | |
Consumer, excluding credit card | Criticized nonaccrual | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 0 | 0 | |
Consumer, excluding credit card | Criticized nonaccrual | Business banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 191 | 213 | |
Consumer, excluding credit card | Criticized nonaccrual | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 191 | 213 | |
Consumer, excluding credit card | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Current and less than 30 days past due and still accruing | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 4,100 | 4,300 | |
Consumer, excluding credit card | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Days Past Due, 30 to 119 | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 303 | 364 | |
Consumer, excluding credit card | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Days Past Due, 120 or More | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 243 | 290 | |
Consumer, excluding credit card | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Days Past Due, 30 or More, and Still Accruing | Student and other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 546 | $ 654 | |
Consumer, excluding credit card | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Minimum | Days Past Due, 30 to 119 | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans, charge-off criteria, period past due | 30 days | ||
Consumer, excluding credit card | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Minimum | Days Past Due, 120 or More | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans, charge-off criteria, period past due | 120 days | ||
Consumer, excluding credit card | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Minimum | Days Past Due, 30 or More, and Still Accruing | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans, charge-off criteria, period past due | 30 days | ||
Consumer, excluding credit card | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Maximum | Days Past Due, 30 to 119 | Other Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans, charge-off criteria, period past due | 119 days |
Loans - Consumer, Excluding 112
Loans - Consumer, Excluding Credit Card Loans, Other Consumer Impaired Loans and Loan Modifications (Details) - Consumer, excluding credit card - Other Consumer - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||||
With an allowance | $ 529 | $ 529 | $ 557 | ||
Without an allowance | 31 | 31 | 35 | ||
Total impaired loans | 560 | 560 | 592 | ||
Allowance for loan losses related to impaired loans | 114 | 114 | 117 | ||
Unpaid principal balance of impaired loans | 682 | 682 | 719 | ||
Average impaired loans | 566 | $ 600 | 576 | $ 599 | |
Troubled debt restructuring | 407 | 407 | 442 | ||
Nonaccrual | |||||
Financing Receivable, Impaired [Line Items] | |||||
Total impaired loans | 440 | 440 | 456 | ||
Troubled debt restructuring | $ 287 | $ 287 | $ 306 |
Loans - Consumer, Excluding 113
Loans - Consumer, Excluding Credit Card Loans, PCI Loans (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 779,705 | $ 747,508 | $ 735,369 |
Consumer, excluding credit card | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 316,781 | 294,979 | $ 288,214 |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 16,088 | 17,095 | |
Related allowance for loan losses | 1,758 | 1,758 | |
Total loans | $ 16,496 | $ 17,740 | |
% of 30 days past due to total loans | 6.58% | 8.15% | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | $ 9,908 | $ 10,671 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 833 | 876 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 382 | 405 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | Texas | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 248 | 273 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 1,581 | 1,696 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 329 | 348 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | Arizona | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 299 | 323 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | Washington | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 889 | 959 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | Michigan | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 49 | 53 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | Ohio | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 18 | 20 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | All other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 1,960 | 2,116 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | Current and less than 30 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 15,411 | 16,295 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | Days Past Due, 30 to 149 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 326 | 445 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | 150 days past due | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 759 | 1,000 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Greater than 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 350 | 513 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Between 101% and 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 1,788 | 2,245 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Between 80% and 100% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 3,868 | 4,171 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Less than 80% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 5,979 | 5,824 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Greater than 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 180 | 273 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Between 101% and 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 835 | 1,073 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Between 80% and 100% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 1,490 | 1,647 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Less than 80% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 2,006 | 1,994 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 9,553 | 10,220 | |
Related allowance for loan losses | 1,083 | 1,193 | |
Total loans | $ 9,580 | $ 10,249 | |
% of 30 days past due to total loans | 11.56% | 13.05% | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | $ 5,591 | $ 5,965 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 647 | 672 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 282 | 301 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | Texas | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 85 | 92 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 625 | 689 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 263 | 279 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | Arizona | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 155 | 167 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | Washington | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 208 | 225 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | Michigan | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 154 | 166 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | Ohio | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 45 | 48 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | All other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 1,525 | 1,645 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | Current and less than 30 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 8,473 | 8,912 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | Days Past Due, 30 to 149 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 395 | 500 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | 150 days past due | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 712 | 837 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Greater than 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 24 | 45 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Between 101% and 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 308 | 456 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Between 80% and 100% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 1,674 | 2,154 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Less than 80% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 3,894 | 3,663 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Greater than 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 58 | 97 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Between 101% and 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 282 | 402 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Between 80% and 100% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 1,100 | 1,316 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Prime Mortgage | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Less than 80% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 2,240 | 2,116 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,449 | 3,673 | |
Related allowance for loan losses | 180 | 180 | |
Total loans | $ 4,331 | $ 4,652 | |
% of 30 days past due to total loans | 21.13% | 23.37% | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | $ 1,077 | $ 1,138 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 422 | 463 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 211 | 229 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | Texas | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 259 | 281 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 399 | 432 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 150 | 165 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | Arizona | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 82 | 85 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | Washington | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 87 | 95 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | Michigan | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 121 | 130 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | Ohio | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 68 | 72 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | All other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 1,455 | 1,562 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | Current and less than 30 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 3,416 | 3,565 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | Days Past Due, 30 to 149 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 451 | 536 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | 150 days past due | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 464 | 551 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Greater than 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 21 | 34 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Between 101% and 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 143 | 215 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Between 80% and 100% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 456 | 519 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Less than 80% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 785 | 719 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Greater than 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 103 | 160 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Between 101% and 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 367 | 509 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Between 80% and 100% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 879 | 1,006 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Subprime Mortgage | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Less than 80% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 1,577 | 1,490 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 14,716 | 15,708 | |
Related allowance for loan losses | 194 | 194 | |
Total loans | $ 15,338 | $ 16,496 | |
% of 30 days past due to total loans | 14.49% | 16.26% | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | $ 8,634 | $ 9,190 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 856 | 933 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 357 | 397 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | Texas | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 81 | 85 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 1,298 | 1,440 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 505 | 553 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | Arizona | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 215 | 227 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | Washington | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 360 | 395 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | Michigan | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 168 | 182 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | Ohio | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 65 | 69 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | All other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 2,799 | 3,025 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | Current and less than 30 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 13,116 | 13,814 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | Days Past Due, 30 to 149 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 707 | 858 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | 150 days past due | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 1,515 | 1,824 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Greater than 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 54 | 89 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Between 101% and 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 392 | 575 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Between 80% and 100% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 1,937 | 2,418 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Less than 80% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 6,762 | 6,593 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Greater than 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 86 | 150 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Between 101% and 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 528 | 771 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Between 80% and 100% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 1,640 | 1,996 | |
Consumer, excluding credit card | Purchased Credit-Impaired, Option ARMs | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Less than 80% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 3,939 | 3,904 | |
Consumer, excluding credit card | Purchased Credit-Impaired | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 43,806 | 46,696 | |
Related allowance for loan losses | 3,215 | 3,325 | |
Total loans | $ 45,745 | $ 49,137 | |
% of 30 days past due to total loans | 11.65% | 13.33% | |
Consumer, excluding credit card | Purchased Credit-Impaired | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | $ 25,210 | $ 26,964 | |
Consumer, excluding credit card | Purchased Credit-Impaired | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 2,758 | 2,944 | |
Consumer, excluding credit card | Purchased Credit-Impaired | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 1,232 | 1,332 | |
Consumer, excluding credit card | Purchased Credit-Impaired | Texas | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 673 | 731 | |
Consumer, excluding credit card | Purchased Credit-Impaired | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 3,903 | 4,257 | |
Consumer, excluding credit card | Purchased Credit-Impaired | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 1,247 | 1,345 | |
Consumer, excluding credit card | Purchased Credit-Impaired | Arizona | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 751 | 802 | |
Consumer, excluding credit card | Purchased Credit-Impaired | Washington | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 1,544 | 1,674 | |
Consumer, excluding credit card | Purchased Credit-Impaired | Michigan | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 492 | 531 | |
Consumer, excluding credit card | Purchased Credit-Impaired | Ohio | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 196 | 209 | |
Consumer, excluding credit card | Purchased Credit-Impaired | All other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 7,739 | 8,348 | |
Consumer, excluding credit card | Purchased Credit-Impaired | Current and less than 30 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 40,416 | 42,586 | |
Consumer, excluding credit card | Purchased Credit-Impaired | Days Past Due, 30 to 149 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 1,879 | 2,339 | |
Consumer, excluding credit card | Purchased Credit-Impaired | 150 days past due | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 3,450 | 4,212 | |
Consumer, excluding credit card | Purchased Credit-Impaired | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Greater than 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 449 | 681 | |
Consumer, excluding credit card | Purchased Credit-Impaired | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Between 101% and 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 2,631 | 3,491 | |
Consumer, excluding credit card | Purchased Credit-Impaired | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Between 80% and 100% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 7,935 | 9,262 | |
Consumer, excluding credit card | Purchased Credit-Impaired | Refreshed FICO Scores Equal to or Greater than 660 | Current Estimated LTV Ratio Less than 80% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 17,420 | 16,799 | |
Consumer, excluding credit card | Purchased Credit-Impaired | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Greater than 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 427 | 680 | |
Consumer, excluding credit card | Purchased Credit-Impaired | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Between 101% and 125% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 2,012 | 2,755 | |
Consumer, excluding credit card | Purchased Credit-Impaired | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Between 80% and 100% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 5,109 | 5,965 | |
Consumer, excluding credit card | Purchased Credit-Impaired | Refreshed FICO Scores Less than 660 | Current Estimated LTV Ratio Less than 80% | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | $ 9,762 | $ 9,504 |
Loans - Consumer, Excluding 114
Loans - Consumer, Excluding Credit Card Loans, PCI Delinquency Statistics (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 779,705 | $ 747,508 | $ 735,369 |
Consumer, excluding credit card | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 316,781 | 294,979 | $ 288,214 |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity Senior Lien | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Percentage of senior liens to total financing receivables | 20.00% | ||
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity Junior Lien, Excluding Lines of Credit | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 651 | $ 736 | |
Total 30 plus day delinquency rate | 5.68% | 8.83% | |
Consumer, excluding credit card | Purchased Credit-Impaired, Home Equity Junior Lien | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 12,796 | $ 13,851 | |
Total 30 plus day delinquency rate | 4.72% | 6.55% | |
Consumer, excluding credit card | HELOC, Within the revolving period | Purchased Credit-Impaired, Home Equity Junior Lien, Lines of Credit | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 7,004 | $ 8,972 | |
Total 30 plus day delinquency rate | 4.35% | 6.42% | |
Home equity line of credit, open-ended revolving period | 10 years | ||
Consumer, excluding credit card | HELOCs, Beyond the revolving period | Purchased Credit-Impaired, Home Equity Junior Lien, Lines of Credit | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 5,141 | $ 4,143 | |
Total 30 plus day delinquency rate | 5.10% | 6.42% |
Loans - Consumer, Excluding 115
Loans - Consumer, Excluding Credit Card Loans, PCI Accretable Yield Activity (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Total retained loans | $ 779,705 | $ 735,369 | $ 779,705 | $ 735,369 | $ 747,508 |
Consumer, excluding credit card | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Total retained loans | 316,781 | 288,214 | 316,781 | 288,214 | 294,979 |
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 | 14,034 | 15,782 | 14,592 | 16,167 | |
Accretion into interest income | (430) | (495) | (866) | (1,009) | |
Changes in interest rates on variable-rate loans | 12 | (45) | 18 | (66) | |
Other changes in expected cash flows | 125 | 33 | (3) | 183 | |
Ending balance | $ 13,741 | $ 15,275 | $ 13,741 | $ 15,275 | |
Accretable yield percentage | 4.18% | 4.24% | 4.16% | 4.28% | |
Total retained loans | $ 43,806 | $ 43,806 | 46,696 | ||
In Process of Active or Suspended Foreclosure | Consumer, excluding credit card | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Total retained loans | 1,300 | 1,300 | 1,500 | ||
In Process of Active or Suspended Foreclosure | Consumer, excluding credit card | Purchased Credit-Impaired | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Total retained loans | $ 2,700 | $ 2,700 | $ 3,200 |
Loans - Credit Card Loan Portfo
Loans - Credit Card Loan Portfolio (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 779,705 | $ 747,508 | $ 735,369 |
Credit card | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 124,705 | 128,027 | $ 125,621 |
Credit card | Consumer Credit Card Financing Receivable | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 124,705 | $ 128,027 | |
% of 30 days past due to total retained loans | 1.29% | 1.44% | |
% of 90 days past due to total retained loans | 0.63% | 0.70% | |
Percentage of Loans with FICO Scores of 660 Or Greater to Total Retained Loans | 85.70% | 85.70% | |
Percentage of Loans with FICO Scores Less than 660 to Total Retained Loans | 14.30% | 14.30% | |
Credit card | Consumer Credit Card Financing Receivable | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 17,661 | $ 17,940 | |
Credit card | Consumer Credit Card Financing Receivable | Texas | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 11,065 | 11,088 | |
Credit card | Consumer Credit Card Financing Receivable | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 10,763 | 10,940 | |
Credit card | Consumer Credit Card Financing Receivable | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 7,314 | 7,497 | |
Credit card | Consumer Credit Card Financing Receivable | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 7,265 | 7,398 | |
Credit card | Consumer Credit Card Financing Receivable | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 5,632 | 5,750 | |
Credit card | Consumer Credit Card Financing Receivable | Ohio | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 4,520 | 4,707 | |
Credit card | Consumer Credit Card Financing Receivable | Pennsylvania | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 4,317 | 4,489 | |
Credit card | Consumer Credit Card Financing Receivable | Michigan | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,418 | 3,552 | |
Credit card | Consumer Credit Card Financing Receivable | Virginia | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,075 | 3,263 | |
Credit card | Consumer Credit Card Financing Receivable | All other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 49,675 | 51,403 | |
Credit card | Consumer Credit Card Financing Receivable | Current and less than 30 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 123,102 | 126,189 | |
Credit card | Consumer Credit Card Financing Receivable | 30–89 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 812 | 943 | |
Credit card | Consumer Credit Card Financing Receivable | 90 or more days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 791 | 895 | |
Credit card | Consumer Credit Card Financing Receivable | Nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 0 | $ 0 |
Loans - Credit Card Portfolio -
Loans - Credit Card Portfolio - Impaired Loans (Details) - Credit card - Consumer Credit Card Financing Receivable - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||||
Loans with modified payment terms | $ 1,480 | $ 1,480 | $ 1,775 | ||
Modified credit card loans that have reverted to pre-modification payment terms | 205 | 205 | 254 | ||
Total impaired loans | 1,685 | 1,685 | 2,029 | ||
Allowance for loan losses related to impaired loans | 518 | 518 | 500 | ||
Average impaired loans | 1,769 | $ 2,617 | 1,854 | $ 2,776 | |
Interest income on impaired loans | 21 | $ 32 | 44 | $ 68 | |
Noncompliance with Modified Terms | |||||
Financing Receivable, Impaired [Line Items] | |||||
Modified credit card loans that have reverted to pre-modification payment terms | 127 | 127 | 159 | ||
Completion of Short Term Modification | |||||
Financing Receivable, Impaired [Line Items] | |||||
Modified credit card loans that have reverted to pre-modification payment terms | $ 78 | $ 78 | $ 95 |
Loans - Credit Card Portfoli118
Loans - Credit Card Portfolio - Loan Modifications (Details) - Credit card - Consumer Credit Card Financing Receivable $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($)payment | Jun. 30, 2014USD ($) | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||||
Fixed payment plan period | 60 months | ||||
Weighted-average interest rate of loans – before TDR | 15.15% | 15.05% | 15.16% | 15.04% | |
Weighted-average interest rate of loans – after TDR | 4.27% | 4.33% | 4.28% | 4.36% | |
Modifications, subsequent default, recorded investment | $ 20 | $ 29 | $ 42 | $ 63 | |
Number of years before payment default under a modified loan | 1 year | ||||
Number of payments past due for deemed payment | payment | 2 | ||||
Rate of default for modified loans, estimated weighted average | 26.45% | 27.91% | |||
Total new enrollments | |||||
Financing Receivable, Impaired [Line Items] | |||||
New TDRs | $ 151 | $ 193 | $ 329 | $ 426 |
Loans - Wholesale Loan Portfoli
Loans - Wholesale Loan Portfolio - By Class of Receivable (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 779,705 | $ 747,508 | $ 735,369 |
Wholesale | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 338,219 | $ 324,502 | $ 321,534 |
% of total criticized to total retained loans | 1.74% | 1.45% | |
% of nonaccrual loans to total retained loans | 0.26% | 0.18% | |
Wholesale | Current and less than 30 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 335,777 | $ 321,612 | |
Wholesale | 30–89 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,447 | 2,215 | |
Wholesale | 90 or more days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 122 | 76 | |
Wholesale | Criticized nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 873 | 599 | |
Wholesale | Total non-U.S. | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 97,833 | 100,865 | |
Wholesale | Total U.S. | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 240,386 | 223,637 | |
Wholesale | Investment grade | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 254,149 | 241,666 | |
Wholesale | Total noninvestment grade | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 84,070 | 82,836 | |
Wholesale | Noncriticized | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 78,179 | 78,118 | |
Wholesale | Criticized performing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 5,018 | 4,119 | |
Wholesale | Criticized nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 873 | 599 | |
Wholesale | Commercial and industrial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 112,505 | $ 109,625 | |
% of total criticized to total retained loans | 3.12% | 2.22% | |
% of nonaccrual loans to total retained loans | 0.44% | 0.17% | |
Wholesale | Commercial and industrial | Current and less than 30 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 111,835 | $ 108,857 | |
Wholesale | Commercial and industrial | 30–89 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 174 | 566 | |
Wholesale | Commercial and industrial | 90 or more days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 4 | 14 | |
Wholesale | Commercial and industrial | Criticized nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 492 | 188 | |
Wholesale | Commercial and industrial | Total non-U.S. | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 32,201 | 33,739 | |
Wholesale | Commercial and industrial | Total U.S. | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 80,304 | 75,886 | |
Wholesale | Commercial and industrial | Investment grade | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 64,034 | 63,069 | |
Wholesale | Commercial and industrial | Total noninvestment grade | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 48,471 | 46,556 | |
Wholesale | Commercial and industrial | Noncriticized | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 44,962 | 44,117 | |
Wholesale | Commercial and industrial | Criticized performing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 3,017 | 2,251 | |
Wholesale | Commercial and industrial | Criticized nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 492 | 188 | |
Wholesale | Real estate | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 85,213 | $ 79,113 | |
% of total criticized to total retained loans | 1.99% | 1.98% | |
% of nonaccrual loans to total retained loans | 0.29% | 0.32% | |
Wholesale | Real estate | Current and less than 30 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 84,830 | $ 78,552 | |
Wholesale | Real estate | 30–89 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 120 | 275 | |
Wholesale | Real estate | 90 or more days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 15 | 33 | |
Wholesale | Real estate | Criticized nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 248 | 253 | |
Wholesale | Real estate | Total non-U.S. | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,853 | 2,099 | |
Wholesale | Real estate | Total U.S. | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 83,360 | 77,014 | |
Wholesale | Real estate | Investment grade | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 67,658 | 61,006 | |
Wholesale | Real estate | Total noninvestment grade | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 17,555 | 18,107 | |
Wholesale | Real estate | Noncriticized | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 15,863 | 16,541 | |
Wholesale | Real estate | Criticized performing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,444 | 1,313 | |
Wholesale | Real estate | Criticized nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 248 | 253 | |
Wholesale | Financial institutions | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 30,268 | $ 34,530 | |
% of total criticized to total retained loans | 1.28% | 0.97% | |
% of nonaccrual loans to total retained loans | 0.04% | 0.05% | |
Wholesale | Financial institutions | Current and less than 30 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 30,222 | $ 34,408 | |
Wholesale | Financial institutions | 30–89 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 29 | 104 | |
Wholesale | Financial institutions | 90 or more days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 6 | 0 | |
Wholesale | Financial institutions | Criticized nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 11 | 18 | |
Wholesale | Financial institutions | Total non-U.S. | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 17,408 | 20,944 | |
Wholesale | Financial institutions | Total U.S. | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 12,860 | 13,586 | |
Wholesale | Financial institutions | Investment grade | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 23,811 | 27,111 | |
Wholesale | Financial institutions | Total noninvestment grade | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 6,457 | 7,419 | |
Wholesale | Financial institutions | Noncriticized | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 6,071 | 7,085 | |
Wholesale | Financial institutions | Criticized performing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 375 | 316 | |
Wholesale | Financial institutions | Criticized nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 11 | 18 | |
Wholesale | Government agencies | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 11,147 | $ 8,696 | |
% of total criticized to total retained loans | 0.12% | 0.03% | |
% of nonaccrual loans to total retained loans | 0.04% | 0.00% | |
Wholesale | Government agencies | Current and less than 30 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 11,127 | $ 8,627 | |
Wholesale | Government agencies | 30–89 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 15 | 69 | |
Wholesale | Government agencies | 90 or more days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 0 | 0 | |
Wholesale | Government agencies | Criticized nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 5 | 0 | |
Wholesale | Government agencies | Total non-U.S. | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,641 | 1,122 | |
Wholesale | Government agencies | Total U.S. | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 9,506 | 7,574 | |
Wholesale | Government agencies | Investment grade | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 10,836 | 8,393 | |
Wholesale | Government agencies | Total noninvestment grade | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 311 | 303 | |
Wholesale | Government agencies | Noncriticized | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 298 | 300 | |
Wholesale | Government agencies | Criticized performing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 8 | 3 | |
Wholesale | Government agencies | Criticized nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 5 | 0 | |
Wholesale | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 99,086 | $ 92,538 | |
% of total criticized to total retained loans | 0.29% | 0.41% | |
% of nonaccrual loans to total retained loans | 0.12% | 0.15% | |
Wholesale | Other | Current and less than 30 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 97,763 | $ 91,168 | |
Wholesale | Other | 30–89 days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,109 | 1,201 | |
Wholesale | Other | 90 or more days past due and still accruing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 97 | 29 | |
Wholesale | Other | Criticized nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 117 | 140 | |
Wholesale | Other | Total non-U.S. | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 44,730 | 42,961 | |
Wholesale | Other | Total U.S. | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 54,356 | 49,577 | |
Wholesale | Other | Investment grade | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 87,810 | 82,087 | |
Wholesale | Other | Total noninvestment grade | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 11,276 | 10,451 | |
Wholesale | Other | Noncriticized | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 10,985 | 10,075 | |
Wholesale | Other | Criticized performing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 174 | 236 | |
Wholesale | Other | Criticized nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 117 | $ 140 |
Loans - Wholesale Loan Portf120
Loans - Wholesale Loan Portfolio - Real Estate Class of Loans (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 779,705 | $ 747,508 | $ 735,369 |
Wholesale | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 338,219 | $ 324,502 | $ 321,534 |
% of total criticized to total retained loans | 1.74% | 1.45% | |
% of nonaccrual loans to total retained loans | 0.26% | 0.18% | |
Wholesale | Real Estate Multifamily | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 55,501 | $ 51,049 | |
% of total criticized to total retained loans | 1.11% | 1.28% | |
% of nonaccrual loans to total retained loans | 0.20% | 0.25% | |
Wholesale | Real Estate Commercial lessors | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 17,235 | $ 17,438 | |
% of total criticized to total retained loans | 5.76% | 4.82% | |
% of nonaccrual loans to total retained loans | 0.55% | 0.63% | |
Wholesale | Real Estate Commercial construction and development | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 4,723 | $ 4,264 | |
% of total criticized to total retained loans | 0.36% | 0.98% | |
% of nonaccrual loans to total retained loans | 0.00% | 0.00% | |
Wholesale | Real Estate Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 7,754 | $ 6,362 | |
% of total criticized to total retained loans | 0.85% | 0.49% | |
% of nonaccrual loans to total retained loans | 0.54% | 0.27% | |
Wholesale | Real estate | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 85,213 | $ 79,113 | |
% of total criticized to total retained loans | 1.99% | 1.98% | |
% of nonaccrual loans to total retained loans | 0.29% | 0.32% | |
Wholesale | Criticized | Real Estate Multifamily | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 617 | $ 652 | |
Wholesale | Criticized | Real Estate Commercial lessors | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 992 | 841 | |
Wholesale | Criticized | Real Estate Commercial construction and development | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 17 | 42 | |
Wholesale | Criticized | Real Estate Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 66 | 31 | |
Wholesale | Criticized | Real estate | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 1,692 | 1,566 | |
Wholesale | Criticized nonaccrual | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 873 | 599 | |
Wholesale | Criticized nonaccrual | Real Estate Multifamily | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 111 | 126 | |
Wholesale | Criticized nonaccrual | Real Estate Commercial lessors | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 95 | 110 | |
Wholesale | Criticized nonaccrual | Real Estate Commercial construction and development | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 0 | 0 | |
Wholesale | Criticized nonaccrual | Real Estate Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | 42 | 17 | |
Wholesale | Criticized nonaccrual | Real estate | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total retained loans | $ 248 | $ 253 |
Loans - Wholesale Loan Portf121
Loans - Wholesale Loan Portfolio - Impaired Loans (Details) - Wholesale - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Commercial and industrial | |||||
Impaired loans: | |||||
With an allowance | $ 401 | $ 401 | $ 174 | ||
Without an allowance | 102 | 102 | 24 | ||
Total impaired loans | 503 | 503 | 198 | ||
Allowance for loan losses related to impaired loans | 85 | 85 | 34 | ||
Unpaid principal balance of impaired loans | 541 | 541 | 266 | ||
Average impaired loans | 355 | $ 249 | 303 | $ 270 | |
Real estate | |||||
Impaired loans: | |||||
With an allowance | 154 | 154 | 193 | ||
Without an allowance | 116 | 116 | 87 | ||
Total impaired loans | 270 | 270 | 280 | ||
Allowance for loan losses related to impaired loans | 17 | 17 | 36 | ||
Unpaid principal balance of impaired loans | 354 | 354 | 345 | ||
Average impaired loans | 242 | 306 | 255 | 330 | |
Financial institutions | |||||
Impaired loans: | |||||
With an allowance | 10 | 10 | 15 | ||
Without an allowance | 2 | 2 | 3 | ||
Total impaired loans | 12 | 12 | 18 | ||
Allowance for loan losses related to impaired loans | 2 | 2 | 4 | ||
Unpaid principal balance of impaired loans | 14 | 14 | 22 | ||
Average impaired loans | 15 | 19 | 15 | 21 | |
Government agencies | |||||
Impaired loans: | |||||
With an allowance | 5 | 5 | 0 | ||
Without an allowance | 0 | 0 | 0 | ||
Total impaired loans | 5 | 5 | 0 | ||
Allowance for loan losses related to impaired loans | 2 | 2 | 0 | ||
Unpaid principal balance of impaired loans | 5 | 5 | 0 | ||
Average impaired loans | 1 | 0 | 1 | 0 | |
Other | |||||
Impaired loans: | |||||
With an allowance | 59 | 59 | 89 | ||
Without an allowance | 59 | 59 | 52 | ||
Total impaired loans | 118 | 118 | 141 | ||
Allowance for loan losses related to impaired loans | 41 | 41 | 13 | ||
Unpaid principal balance of impaired loans | 122 | 122 | 202 | ||
Average impaired loans | 114 | 159 | 111 | 164 | |
Commercial loan | |||||
Impaired loans: | |||||
With an allowance | 629 | 629 | 471 | ||
Without an allowance | 279 | 279 | 166 | ||
Total impaired loans | 908 | 908 | 637 | ||
Allowance for loan losses related to impaired loans | 147 | 147 | 87 | ||
Unpaid principal balance of impaired loans | 1,036 | 1,036 | $ 835 | ||
Average impaired loans | $ 727 | $ 733 | $ 685 | $ 785 |
Allowance for credit losses (De
Allowance for credit losses (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Provision for credit losses | $ 935 | $ 692 | $ 1,894 | $ 1,542 | |
Loans by Impairment Methodology [Abstract] | |||||
Asset-specific | 12,553 | 16,390 | |||
Formula-based | 723,342 | 668,856 | |||
PCI | 43,810 | 50,123 | |||
Retained loans | 779,705 | 735,369 | $ 747,508 | ||
Lending-related commitments by impairment methodology | |||||
Asset-specific | 133 | 122 | |||
Formula-based | 935,449 | 1,041,251 | |||
Total lending-related commitments | 935,582 | 1,041,373 | 950,997 | ||
Impaired collateral-dependent loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Net charge-offs/(recoveries) | 35 | 76 | |||
Impaired Collateral Dependent Loans [Abstract] | |||||
Loans measured at fair value of collateral less cost to sell | 3,002 | 3,571 | |||
Allowance for loan losses | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for credit losses, beginning balance | 14,185 | 16,264 | |||
Gross charge-offs | 2,636 | 3,143 | |||
Gross (recoveries) | (577) | (716) | |||
Net charge-offs/(recoveries) | 2,059 | 2,427 | |||
Provision for credit losses | 1,896 | 1,599 | |||
Other | 3 | (1) | |||
Allowance for credit losses, ending balance | 13,915 | 15,326 | 13,915 | 15,326 | |
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||
Asset-specific | 1,101 | 1,319 | |||
Formula-based | 9,599 | 10,258 | |||
PCI | 3,215 | 3,749 | |||
Total allowance for loan losses | 13,915 | 15,326 | 14,185 | 16,264 | 14,185 |
Allowance for loan losses | Purchased Credit-Impaired | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Gross charge-offs | 110 | 109 | |||
Allowance for lending-related commitments | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for credit losses, beginning balance | 622 | 705 | |||
Provision for credit losses | (2) | (57) | |||
Other | 0 | 0 | |||
Allowance for credit losses, ending balance | 620 | 648 | 620 | 648 | |
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||
Allowance for lending-related commitments by impairment methodology, asset-specific | 55 | 43 | |||
Allowance for lending-related commitments by impairment methodology, formula-based | 565 | 605 | |||
Total allowance for loan losses | 620 | 648 | 622 | 705 | 622 |
Consumer, excluding credit card | |||||
Loans by Impairment Methodology [Abstract] | |||||
Asset-specific | 9,960 | 13,191 | |||
Formula-based | 263,015 | 224,905 | |||
PCI | 43,806 | 50,118 | |||
Retained loans | 316,781 | 288,214 | 294,979 | ||
Lending-related commitments by impairment methodology | |||||
Asset-specific | 0 | 0 | |||
Formula-based | 59,817 | 56,410 | |||
Total lending-related commitments | 59,817 | 56,410 | |||
Consumer, excluding credit card | Purchased Credit-Impaired | |||||
Loans by Impairment Methodology [Abstract] | |||||
Retained loans | 43,806 | 46,696 | |||
Consumer, excluding credit card | Impaired collateral-dependent loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Net charge-offs/(recoveries) | 33 | 81 | |||
Impaired Collateral Dependent Loans [Abstract] | |||||
Loans measured at fair value of collateral less cost to sell | 2,695 | 3,250 | |||
Consumer, excluding credit card | Allowance for loan losses | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for credit losses, beginning balance | 7,050 | 8,456 | |||
Gross charge-offs | 827 | 1,084 | |||
Gross (recoveries) | (337) | (399) | |||
Net charge-offs/(recoveries) | 490 | 685 | |||
Provision for credit losses | 42 | 81 | |||
Other | 0 | 0 | |||
Allowance for credit losses, ending balance | 6,492 | 7,743 | 6,492 | 7,743 | |
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||
Asset-specific | 436 | 598 | |||
Formula-based | 2,841 | 3,396 | |||
PCI | 3,215 | 3,749 | |||
Total allowance for loan losses | 6,492 | 7,743 | 7,050 | 8,456 | 7,050 |
Consumer, excluding credit card | Allowance for loan losses | Purchased Credit-Impaired | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Gross charge-offs | 110 | 109 | |||
Consumer, excluding credit card | Allowance for lending-related commitments | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for credit losses, beginning balance | 13 | 8 | |||
Provision for credit losses | 2 | 1 | |||
Other | 0 | 0 | |||
Allowance for credit losses, ending balance | 15 | 9 | 15 | 9 | |
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||
Allowance for lending-related commitments by impairment methodology, asset-specific | 0 | 0 | |||
Allowance for lending-related commitments by impairment methodology, formula-based | 15 | 9 | |||
Total allowance for loan losses | 15 | 9 | 13 | 8 | 13 |
Credit card | |||||
Loans by Impairment Methodology [Abstract] | |||||
Asset-specific | 1,685 | 2,467 | |||
Formula-based | 123,020 | 123,154 | |||
PCI | 0 | 0 | |||
Retained loans | 124,705 | 125,621 | 128,027 | ||
Lending-related commitments by impairment methodology | |||||
Asset-specific | 0 | 0 | |||
Formula-based | 523,717 | 533,688 | |||
Total lending-related commitments | 523,717 | 533,688 | |||
Credit card | Impaired collateral-dependent loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Net charge-offs/(recoveries) | 0 | 0 | |||
Impaired Collateral Dependent Loans [Abstract] | |||||
Loans measured at fair value of collateral less cost to sell | 0 | 0 | |||
Credit card | Allowance for loan losses | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for credit losses, beginning balance | 3,439 | 3,795 | |||
Gross charge-offs | 1,776 | 1,982 | |||
Gross (recoveries) | (187) | (209) | |||
Net charge-offs/(recoveries) | 1,589 | 1,773 | |||
Provision for credit losses | 1,589 | 1,573 | |||
Other | (5) | (1) | |||
Allowance for credit losses, ending balance | 3,434 | 3,594 | 3,434 | 3,594 | |
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||
Asset-specific | 518 | 583 | |||
Formula-based | 2,916 | 3,011 | |||
PCI | 0 | 0 | |||
Total allowance for loan losses | 3,434 | 3,594 | 3,439 | 3,795 | 3,439 |
Credit card | Allowance for loan losses | Purchased Credit-Impaired | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Gross charge-offs | 0 | 0 | |||
Credit card | Allowance for lending-related commitments | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for credit losses, beginning balance | 0 | 0 | |||
Provision for credit losses | 0 | 0 | |||
Other | 0 | 0 | |||
Allowance for credit losses, ending balance | 0 | 0 | 0 | 0 | |
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||
Allowance for lending-related commitments by impairment methodology, asset-specific | 0 | 0 | |||
Allowance for lending-related commitments by impairment methodology, formula-based | 0 | 0 | |||
Total allowance for loan losses | 0 | 0 | 0 | 0 | 0 |
Wholesale | |||||
Loans by Impairment Methodology [Abstract] | |||||
Asset-specific | 908 | 732 | |||
Formula-based | 337,307 | 320,797 | |||
PCI | 4 | 5 | |||
Retained loans | 338,219 | 321,534 | 324,502 | ||
Lending-related commitments by impairment methodology | |||||
Asset-specific | 133 | 122 | |||
Formula-based | 351,915 | 451,153 | |||
Total lending-related commitments | 352,048 | 451,275 | |||
Wholesale | Impaired collateral-dependent loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Net charge-offs/(recoveries) | 2 | (5) | |||
Impaired Collateral Dependent Loans [Abstract] | |||||
Loans measured at fair value of collateral less cost to sell | 307 | 321 | |||
Wholesale | Allowance for loan losses | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for credit losses, beginning balance | 3,696 | 4,013 | |||
Gross charge-offs | 33 | 77 | |||
Gross (recoveries) | (53) | (108) | |||
Net charge-offs/(recoveries) | (20) | (31) | |||
Provision for credit losses | 265 | (55) | |||
Other | 8 | 0 | |||
Allowance for credit losses, ending balance | 3,989 | 3,989 | 3,989 | 3,989 | |
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||
Asset-specific | 147 | 138 | |||
Formula-based | 3,842 | 3,851 | |||
PCI | 0 | 0 | |||
Total allowance for loan losses | 3,989 | 3,989 | 3,696 | 4,013 | 3,696 |
Wholesale | Allowance for loan losses | Purchased Credit-Impaired | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Gross charge-offs | 0 | 0 | |||
Wholesale | Allowance for lending-related commitments | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance for credit losses, beginning balance | 609 | 697 | |||
Provision for credit losses | (4) | (58) | |||
Other | 0 | 0 | |||
Allowance for credit losses, ending balance | 605 | 639 | 605 | 639 | |
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||
Allowance for lending-related commitments by impairment methodology, asset-specific | 55 | 43 | |||
Allowance for lending-related commitments by impairment methodology, formula-based | 550 | 596 | |||
Total allowance for loan losses | $ 605 | $ 639 | $ 609 | $ 697 | $ 609 |
Variable Interest Entities - Fi
Variable Interest Entities - Firm Sponsored Variable Interest Entities (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Firm-sponsored mortgage and other consumer securitization trusts | ||
Total assets held by securitization VIEs | $ 245,200 | $ 254,300 |
Percentage of the Firm's retained securitization interests risk-rated 'A' or better, at fair value | 74.00% | 77.00% |
Corporate & Investment Bank | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Senior securities purchased, excluded from interests continued to be held by transferor, fair value | $ 97 | $ 136 |
Subordinated securities purchased, excluded from interests continued to be held by transferor, fair value | 161 | 34 |
Mortgages - prime, including option ARMS | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Total assets held by securitization VIEs | 91,800 | 96,300 |
Mortgages - prime, including option ARMS | Investment-grade | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Retained interest, fair value | 2,100 | 1,100 |
Mortgages - prime, including option ARMS | Noninvestment-grade | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Retained interest, fair value | 175 | 185 |
Mortgages - subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Total assets held by securitization VIEs | 26,100 | 28,400 |
Mortgage-backed securities, Commercial | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Total assets held by securitization VIEs | 127,300 | 129,600 |
Mortgage-backed securities, Commercial | Investment-grade | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Retained interest, fair value | 3,800 | 3,700 |
Mortgage-backed securities, Commercial | Noninvestment-grade | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Retained interest, fair value | 229 | 194 |
Variable Interest Entity, Primary Beneficiary | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in consolidated securitization VIEs | 1,900 | 3,700 |
Variable Interest Entity, Primary Beneficiary | Mortgages - prime, including option ARMS | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in consolidated securitization VIEs | 1,600 | 2,700 |
Variable Interest Entity, Primary Beneficiary | Mortgages - subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in consolidated securitization VIEs | 100 | 800 |
Variable Interest Entity, Primary Beneficiary | Mortgage-backed securities, Commercial | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in consolidated securitization VIEs | 200 | 200 |
Variable Interest Entity, Not Primary Beneficiary | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in nonconsolidated securitization VIEs with continuing involvement | 193,676 | 198,391 |
Interest in sponsored credit card securitization trusts | 6,300 | 5,200 |
Variable Interest Entity, Not Primary Beneficiary | Trading assets | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in sponsored credit card securitization trusts | 1,100 | 1,000 |
Variable Interest Entity, Not Primary Beneficiary | AFS securities | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in sponsored credit card securitization trusts | 5,200 | 4,200 |
Variable Interest Entity, Not Primary Beneficiary | Mortgages - prime, including option ARMS | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in nonconsolidated securitization VIEs with continuing involvement | 75,466 | 78,294 |
Interest in sponsored credit card securitization trusts | 2,300 | 1,200 |
Variable Interest Entity, Not Primary Beneficiary | Mortgages - prime, including option ARMS | Trading assets | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in sponsored credit card securitization trusts | 700 | 500 |
Variable Interest Entity, Not Primary Beneficiary | Mortgages - prime, including option ARMS | AFS securities | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in sponsored credit card securitization trusts | 1,600 | 700 |
Variable Interest Entity, Not Primary Beneficiary | Mortgages - subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in nonconsolidated securitization VIEs with continuing involvement | 24,237 | 25,659 |
Interest in sponsored credit card securitization trusts | 0 | 100 |
Variable Interest Entity, Not Primary Beneficiary | Mortgages - subprime | Trading assets | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in sponsored credit card securitization trusts | 0 | 100 |
Variable Interest Entity, Not Primary Beneficiary | Mortgages - subprime | AFS securities | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in sponsored credit card securitization trusts | 0 | 0 |
Variable Interest Entity, Not Primary Beneficiary | Mortgage-backed securities, Commercial | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in nonconsolidated securitization VIEs with continuing involvement | 93,973 | 94,438 |
Interest in sponsored credit card securitization trusts | 4,000 | 3,900 |
Variable Interest Entity, Not Primary Beneficiary | Mortgage-backed securities, Commercial | Trading assets | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in sponsored credit card securitization trusts | 400 | 400 |
Variable Interest Entity, Not Primary Beneficiary | Mortgage-backed securities, Commercial | AFS securities | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in sponsored credit card securitization trusts | $ 3,600 | $ 3,500 |
Variable Interest Entities - Re
Variable Interest Entities - Resecuritizations, Multi-seller Conduits (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | ||||
Variable Interest Entity [Line Items] | ||||||||
Securities transferred to agency resecuritization VIEs | $ 6,300 | $ 8,000 | $ 10,200 | $ 13,300 | ||||
Securities transferred to private-label re-securitization VIEs | 255 | 264 | 727 | 433 | ||||
Assets | 2,449,599 | [1] | 2,519,995 | 2,449,599 | [1] | 2,519,995 | $ 2,572,773 | [1] |
Off-balance sheet lending-related financial commitments, contractual amount | 935,582 | 1,041,373 | 935,582 | 1,041,373 | 950,997 | |||
Not Primary Beneficiary, Nonconsolidated Private-Label Re-securitizations | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Assets | 2,500 | 2,500 | 2,900 | |||||
Mortgage Securitization Entities | Re securitizations | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Senior and subordinated interest in nonconsolidated agency re-securitization entities | 3,300 | 3,300 | 2,400 | |||||
Mortgage Securitization Entities | Private label Resecuritizations | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Senior and subordinated interest in nonconsolidated agency re-securitization entities | 31 | 31 | 36 | |||||
Mortgage Securitization Entities | Private label Resecuritizations | Residential mortgage-backed securities | ||||||||
Variable Interest Entity [Line Items] | ||||||||
VIE, consolidated, carrying amount assets | 50 | 50 | 77 | |||||
VIE, consolidated, carrying amount liabilities | 3 | 3 | 21 | |||||
Firm-administered multi-seller conduits | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Commercial paper issued by consolidated Variable Interest Entities eliminated in Consolidation | 3,600 | 3,600 | 5,700 | |||||
Firm-administered multi-seller conduits | Mortgage-backed securities, Commercial | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Off-balance sheet lending-related financial commitments, contractual amount | 9,900 | 9,900 | $ 9,900 | |||||
Fair Value, Inputs, Level 3 [Member] | Residential mortgage-backed securities | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Cash Flows Between Transferor and Transferee, Proceeds from New Transfers | 0 | 21 | ||||||
Fair Value, Inputs, Level 3 [Member] | Mortgage-backed securities, Commercial | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Cash Flows Between Transferor and Transferee, Proceeds from New Transfers | $ 38 | $ 130 | $ 38 | $ 130 | ||||
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at June 30, 2015, and December 31, 2014. 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, 2015 Dec 31, 2014Assets Trading assets$5,168 $9,090Loans67,116 68,880All other assets2,274 1,815Total assets$74,558 $79,785Liabilities Beneficial interests issued by consolidated variable interest entities$50,002 $52,362All other liabilities868 949Total liabilities$50,870 $53,311The 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, 2015, and December 31, 2014, the Firm provided limited program-wide credit enhancement of $2.0 billion related to its Firm-administered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 15. |
Variable Interest Entities - Mu
Variable Interest Entities - Municipal Bond Vehicle VIEs (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Assets | $ 2,449,599 | [1] | $ 2,572,773 | [1] | $ 2,519,995 |
Nonconsolidated municipal bond vehicles | Municipal bond vehicles | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Assets | 11,700 | 11,500 | |||
Liquidity facilities provided by Firm serving as liquidity provider | 6,600 | 6,300 | |||
Excess/ (deficit) | $ 5,100 | $ 5,200 | |||
Weighted average expected life of assets (years) | 4 years 10 months 24 days | 4 years 10 months 24 days | |||
Nonconsolidated municipal bond vehicles | Municipal bond vehicles | Investment Grade AAA to AAA- | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Assets | $ 2,700 | $ 2,700 | |||
Nonconsolidated municipal bond vehicles | Municipal bond vehicles | Investment Grade AAplus to AA- | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Assets | 8,600 | 8,400 | |||
Nonconsolidated municipal bond vehicles | Municipal bond vehicles | Investment Grade Aplus to A- | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Assets | 400 | 400 | |||
Nonconsolidated municipal bond vehicles | Municipal bond vehicles | Investment Grade BBBplus to BBB- | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Assets | 0 | 0 | |||
Nonconsolidated municipal bond vehicles | Municipal bond vehicles | Non Investment Grade BBplus and below | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Assets | 0 | 0 | |||
Variable Interest Entity, Not Primary Beneficiary | Municipal bond vehicles | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Maximum exposure | $ 6,600 | $ 6,300 | |||
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at June 30, 2015, and December 31, 2014. 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, 2015 Dec 31, 2014Assets Trading assets$5,168 $9,090Loans67,116 68,880All other assets2,274 1,815Total assets$74,558 $79,785Liabilities Beneficial interests issued by consolidated variable interest entities$50,002 $52,362All other liabilities868 949Total liabilities$50,870 $53,311The 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, 2015, and December 31, 2014, the Firm provided limited program-wide credit enhancement of $2.0 billion related to its Firm-administered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 15. |
Variable Interest Entities - Co
Variable Interest Entities - Consolidated VIE Assets and Liabilities (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Trading assets | $ 377,870 | $ 398,988 | ||||
Loans | 791,247 | 757,336 | ||||
Other assets, at fair value | 101,469 | 102,597 | ||||
Total assets | 2,449,599 | [1] | 2,572,773 | [1] | $ 2,519,995 | |
Beneficial interests issued by consolidated VIEs | 50,002 | 52,362 | ||||
Total liabilities | [1] | 2,208,394 | 2,341,046 | |||
Variable Interest Entity, Primary Beneficiary | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Loans | 67,100 | 68,900 | ||||
Other assets, at fair value | 2,300 | 1,800 | ||||
Total assets | 74,600 | 79,800 | ||||
Beneficial interests issued by consolidated VIEs | 50,000 | 52,400 | ||||
All other liabilities | 900 | 900 | ||||
Total liabilities | 50,900 | 53,300 | ||||
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 | 34,500 | 35,400 | ||||
Variable Interest Entity, Primary Beneficiary | Long-term beneficial interests maturities under 1 year | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Beneficial interests issued by consolidated VIEs | 6,800 | |||||
Variable Interest Entity, Primary Beneficiary | Long-term beneficial interests maturities between 1 and 5 years | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Beneficial interests issued by consolidated VIEs | 23,100 | |||||
Variable Interest Entity, Primary Beneficiary | Long-term beneficial interests maturities over 5 years | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Beneficial interests issued by consolidated VIEs | 4,600 | |||||
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 | 5,200 | 9,100 | ||||
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 | 47,900 | 48,300 | ||||
Other assets, at fair value | 700 | 700 | ||||
Total assets | 48,600 | 49,000 | ||||
Beneficial interests issued by consolidated VIEs | 31,200 | 31,200 | ||||
All other liabilities | 0 | 0 | ||||
Total liabilities | 31,200 | 31,200 | ||||
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 | 16,500 | 17,700 | ||||
Other assets, at fair value | 0 | 100 | ||||
Total assets | 16,500 | 17,800 | ||||
Beneficial interests issued by consolidated VIEs | 13,000 | 12,000 | ||||
All other liabilities | 0 | 0 | ||||
Total liabilities | 13,000 | 12,000 | ||||
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 bond 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 | 2,600 | 5,300 | ||||
Beneficial interests issued by consolidated VIEs | 2,500 | 4,900 | ||||
All other liabilities | 0 | 0 | ||||
Total liabilities | 2,500 | 4,900 | ||||
Variable Interest Entity, Primary Beneficiary | Municipal bond vehicles | Debt and equity securities | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Trading assets | 2,600 | 5,300 | ||||
Variable Interest Entity, Primary Beneficiary | Mortgage securitization entities | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Loans | 700 | 700 | ||||
Other assets, at fair value | 0 | 0 | ||||
Total assets | 2,900 | 4,000 | ||||
Beneficial interests issued by consolidated VIEs | 1,200 | 2,100 | ||||
All other liabilities | 700 | 800 | ||||
Total liabilities | 1,900 | 2,900 | ||||
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 | 2,200 | 3,300 | ||||
Variable Interest Entity, Primary Beneficiary | Student loan securitization entities | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Loans | 2,000 | 2,200 | ||||
Other assets, at fair value | 100 | 0 | ||||
Total assets | 2,200 | 2,400 | ||||
Beneficial interests issued by consolidated VIEs | 2,000 | 2,100 | ||||
All other liabilities | 0 | 0 | ||||
Total liabilities | 2,000 | 2,100 | ||||
Variable Interest Entity, Primary Beneficiary | Student loan securitization entities | Debt and equity securities | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Trading assets | 100 | 200 | ||||
Variable Interest Entity, Primary Beneficiary | Other | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Loans | 0 | 0 | ||||
Other assets, at fair value | 1,500 | 1,000 | ||||
Total assets | 1,800 | 1,300 | ||||
Beneficial interests issued by consolidated VIEs | 100 | 100 | ||||
All other liabilities | 200 | 100 | ||||
Total liabilities | 300 | 200 | ||||
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 | $ 300 | $ 300 | ||||
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at June 30, 2015, and December 31, 2014. 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, 2015 Dec 31, 2014Assets Trading assets$5,168 $9,090Loans67,116 68,880All other assets2,274 1,815Total assets$74,558 $79,785Liabilities Beneficial interests issued by consolidated variable interest entities$50,002 $52,362All other liabilities868 949Total liabilities$50,870 $53,311The 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, 2015, and December 31, 2014, the Firm provided limited program-wide credit enhancement of $2.0 billion related to its Firm-administered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 15. |
Variable Interest Entities - Se
Variable Interest Entities - Securitization Activity (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Residential mortgage-backed securities | Level 2 | ||||
All cash flows during the period: | ||||
Proceeds from new securitizations | $ 385 | $ 312 | $ 1,700 | $ 642 |
Residential mortgage-backed securities | Level 3 | ||||
All cash flows during the period: | ||||
Proceeds from new securitizations | 0 | 21 | ||
Mortgage-backed securities, Commercial | Cash | ||||
All cash flows during the period: | ||||
Proceeds from new securitizations | 280 | 280 | ||
Mortgage-backed securities, Commercial | Level 2 | ||||
All cash flows during the period: | ||||
Proceeds from new securitizations | 2,700 | 2,300 | 6,000 | 4,300 |
Mortgage-backed securities, Commercial | Level 3 | ||||
All cash flows during the period: | ||||
Proceeds from new securitizations | 38 | 130 | 38 | 130 |
Variable Interest Entity (VIE) or Potential VIE, Information Unavailability | Residential mortgage-backed securities | ||||
Securitization activity [Abstract] | ||||
Principal securitized | 380 | 304 | 1,692 | 660 |
All cash flows during the period: | ||||
Proceeds from new securitizations | 385 | 312 | 1,702 | 663 |
Servicing fees collected | 134 | 137 | 280 | 276 |
Purchases of previously transferred financial assets (or the underlying collateral) | 1 | 64 | 1 | 67 |
Cash flows received on interests | 116 | 41 | 186 | 85 |
Variable Interest Entity (VIE) or Potential VIE, Information Unavailability | Mortgage-backed securities, Commercial | ||||
Securitization activity [Abstract] | ||||
Principal securitized | 2,676 | 2,612 | 6,051 | 4,639 |
All cash flows during the period: | ||||
Proceeds from new securitizations | 2,689 | 2,664 | 6,058 | 4,708 |
Servicing fees collected | 1 | 1 | 2 | 2 |
Purchases of previously transferred financial assets (or the underlying collateral) | 0 | 0 | 0 | 0 |
Cash flows received on interests | $ 128 | $ 397 | $ 207 | $ 459 |
Variable Interest Entities - Lo
Variable Interest Entities - Loans Sold to Third-Party Sponsored Securitization Entities (Details) - Variable Interest Entity, Not Primary Beneficiary - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Summary of loan sale activities [Abstract] | |||||
Carrying value of loans sold | $ 10,660 | $ 12,603 | $ 22,799 | $ 26,253 | |
Proceeds received from loan sales as cash | 48 | 50 | 99 | 89 | |
Proceeds received from loan sales as securities | 10,559 | 12,461 | 22,588 | 26,196 | |
Total proceeds received from loan sales | 10,607 | 12,511 | 22,687 | 26,285 | |
Gains on loan sales | 86 | $ 82 | 177 | $ 119 | |
Loans repurchased | 11,700 | 11,700 | $ 12,400 | ||
Real estate acquired through foreclosure | $ 385 | $ 385 | $ 464 |
Variable Interest Entities -129
Variable Interest Entities - Loan Delinquencies and Net Charge-offs (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Total assets held by securitization VIEs | $ 245,200 | $ 245,200 | $ 254,300 | ||
Mortgages - prime, including option ARMS | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Total assets held by securitization VIEs | 91,800 | 91,800 | 96,300 | ||
Mortgages - subprime | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Total assets held by securitization VIEs | 26,100 | 26,100 | 28,400 | ||
Mortgage-backed securities, Commercial | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Total assets held by securitization VIEs | 127,300 | 127,300 | 129,600 | ||
Securitized loans | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
90 days past due | 17,550 | 17,550 | 19,358 | ||
Liquidation Losses | 865 | $ 1,470 | 1,780 | $ 3,102 | |
Securitized loans in which the firm has no continuing involvement | 49,600 | 49,600 | 52,200 | ||
Securitized loans | Mortgages - prime, including option ARMS | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
90 days past due | 10,036 | 10,036 | 11,363 | ||
Liquidation Losses | 454 | 598 | 916 | 1,257 | |
Securitized loans | Mortgages - subprime | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
90 days past due | 6,045 | 6,045 | 6,473 | ||
Liquidation Losses | 371 | 464 | 725 | 1,203 | |
Securitized loans | Mortgage-backed securities, Commercial | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
90 days past due | 1,469 | 1,469 | 1,522 | ||
Liquidation Losses | 40 | $ 408 | 139 | $ 642 | |
Variable Interest Entity, Not Primary Beneficiary | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Securitized assets | 193,676 | 193,676 | 198,391 | ||
Variable Interest Entity, Not Primary Beneficiary | Mortgages - prime, including option ARMS | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Securitized assets | 75,466 | 75,466 | 78,294 | ||
Variable Interest Entity, Not Primary Beneficiary | Mortgages - subprime | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Securitized assets | 24,237 | 24,237 | 25,659 | ||
Variable Interest Entity, Not Primary Beneficiary | Mortgage-backed securities, Commercial | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Securitized assets | 93,973 | 93,973 | 94,438 | ||
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 | 1,900 | 1,900 | 3,700 | ||
Variable Interest Entity, Primary Beneficiary | Mortgages - prime, including option ARMS | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Assets held in consolidated securitization VIEs | 1,600 | 1,600 | 2,700 | ||
Variable Interest Entity, Primary Beneficiary | Mortgages - subprime | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Assets held in consolidated securitization VIEs | 100 | 100 | 800 | ||
Variable Interest Entity, Primary Beneficiary | Mortgage-backed securities, Commercial | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Assets held in consolidated securitization VIEs | $ 200 | $ 200 | $ 200 |
Goodwill and other intangibl130
Goodwill and other intangible assets - by Business Segment (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Goodwill [Line Items] | ||||||
Goodwill | $ 47,476 | $ 47,453 | $ 47,647 | $ 48,110 | $ 48,065 | $ 48,081 |
Consumer & Community Banking | ||||||
Goodwill [Line Items] | ||||||
Goodwill | 30,893 | 30,941 | ||||
Corporate & Investment Bank | ||||||
Goodwill [Line Items] | ||||||
Goodwill | 6,776 | 6,780 | ||||
Commercial Banking | ||||||
Goodwill [Line Items] | ||||||
Goodwill | 2,861 | 2,861 | ||||
Asset Management | ||||||
Goodwill [Line Items] | ||||||
Goodwill | 6,946 | 6,964 | ||||
Corporate | ||||||
Goodwill [Line Items] | ||||||
Goodwill | $ 0 | $ 101 |
Goodwill and other intangibl131
Goodwill and other intangible assets - Changes During Period (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Changes in the carrying amount of goodwill [Abstract] | ||||
Balance at beginning of period | $ 47,453,000,000 | $ 48,065,000,000 | $ 47,647,000,000 | $ 48,081,000,000 |
Changes during the period from: | ||||
Business combinations | 9,000,000 | 9,000,000 | 17,000,000 | 18,000,000 |
Dispositions | 0 | 0 | (101,000,000) | 0 |
Other | 14,000,000 | 36,000,000 | (87,000,000) | 11,000,000 |
Balance at end of period | $ 47,476,000,000 | $ 48,110,000,000 | 47,476,000,000 | $ 48,110,000,000 |
Goodwill impairment | $ 0 |
Goodwill and other intangibl132
Goodwill and other intangible assets - Mortgage Servicing Rights (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Mortgage servicing rights activity [Abstract] | ||||
Fair value at the beginning of the period | $ 6,641,000,000 | $ 8,552,000,000 | $ 7,436,000,000 | $ 9,614,000,000 |
MSR activity: | ||||
Originations of MSRs | 145,000,000 | 178,000,000 | 300,000,000 | 370,000,000 |
Purchase of MSRs | 438,000,000 | 3,000,000 | 439,000,000 | 6,000,000 |
Disposition of MSRs | (218,000,000) | 2,000,000 | (375,000,000) | (186,000,000) |
Net additions | 365,000,000 | 183,000,000 | 364,000,000 | 190,000,000 |
Changes due to collection/realization of expected cash flows | (229,000,000) | (239,000,000) | (444,000,000) | (486,000,000) |
Changes in valuation due to inputs and assumptions: | ||||
Changes due to market interest rates and other | 816,000,000 | (369,000,000) | 339,000,000 | (731,000,000) |
Changes in valuation due to other inputs and assumptions: | ||||
Projected cash flows (e.g., cost to service) | (17,000,000) | 0 | (27,000,000) | (11,000,000) |
Discount rates | 0 | (10,000,000) | (10,000,000) | (459,000,000) |
Prepayment model changes and other | (5,000,000) | 230,000,000 | (87,000,000) | 230,000,000 |
Total changes in valuation due to other inputs and assumptions | (22,000,000) | 220,000,000 | (124,000,000) | (240,000,000) |
Total changes in valuation due to inputs and assumptions | 794,000,000 | (149,000,000) | 215,000,000 | (971,000,000) |
Fair value at June 30 | 7,571,000,000 | 8,347,000,000 | 7,571,000,000 | 8,347,000,000 |
Change in unrealized gains/(losses) included in income related to MSRs held at June 30 | 794,000,000 | (149,000,000) | 215,000,000 | (971,000,000) |
Contractual service fees, late fees and other ancillary fees included in income | 644,000,000 | 731,000,000 | 1,311,000,000 | 1,488,000,000 |
Third-party mortgage loans serviced at June 30 | 727,000,000,000 | 791,000,000,000 | 727,000,000,000 | 791,000,000,000 |
Net servicer advances at June 30 | 7,100,000,000 | 8,800,000,000 | 7,100,000,000 | 8,800,000,000 |
MSR activity supplemental information | ||||
Commercial real estate, fair value period increase (decrease) | 0 | (2,000,000) | (2,000,000) | (4,000,000) |
Commercial real estate, fair value | $ 9,000,000 | $ 14,000,000 | $ 9,000,000 | $ 14,000,000 |
Goodwill and other intangibl133
Goodwill and other intangible assets - Mortgage Fees and Related Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Risk management: | ||||
All other | $ 1 | $ 1 | $ 2 | $ 1 |
Mortgage fees and related income | 783 | 1,291 | 1,488 | 1,805 |
Consumer & Community Banking | ||||
CCB mortgage fees and related income | ||||
Net production revenue | 233 | 323 | 470 | 612 |
Operating revenue: | ||||
Loan servicing revenue | 707 | 867 | 1,456 | 1,737 |
Changes in MSR asset fair value due to collection/realization of expected cash flows | (228) | (237) | (442) | (482) |
Total operating revenue | 479 | 630 | 1,014 | 1,255 |
Risk management: | ||||
Changes in MSR asset fair value due to market interest rates and other | 815 | (368) | 339 | (730) |
Other changes in MSR asset fair value due to inputs or assumptions in model | (22) | 220 | (124) | (240) |
Change in derivative fair value and other | (723) | 485 | (213) | 907 |
Total risk management | 70 | 337 | 2 | (63) |
Total CCB net mortgage servicing revenue | $ 549 | $ 967 | $ 1,016 | $ 1,192 |
Goodwill and other intangibl134
Goodwill and other intangible assets - Key Economic Assumptions (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Weighted-average prepayment speed assumption (“CPR”) | 9.01% | 9.80% |
Impact on fair value of 10% adverse change | $ (327) | $ (337) |
Impact on fair value of 20% adverse change | $ (633) | $ (652) |
Weighted-average option adjusted spread | 9.38% | 9.43% |
Impact on fair value of 100 basis points adverse change | $ (304) | $ (300) |
Impact on fair value of 200 basis points adverse change | $ (586) | $ (578) |
Deposits - Noninterest and Inte
Deposits - Noninterest and Interest-bearing (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
U.S. offices | ||
Noninterest-bearing | $ 432,052 | $ 437,558 |
Interest-bearing: | ||
Demand | 69,477 | 90,319 |
Savings | 462,554 | 466,730 |
Time (included $9,364 and $7,501 at fair value) | 79,407 | 86,301 |
Total interest-bearing deposits | 611,438 | 643,350 |
Total deposits in U.S. offices | 1,043,490 | 1,080,908 |
Non-U.S. offices | ||
Noninterest-bearing | 21,777 | 19,078 |
Interest-bearing | ||
Demand | 177,923 | 217,011 |
Savings | 1,873 | 2,673 |
Time (included $2,121 and $1,306 at fair value) | 42,269 | 43,757 |
Total interest-bearing deposits | 222,065 | 263,441 |
Total deposits in non-U.S. offices | 243,842 | 282,519 |
Total deposits | 1,287,332 | 1,363,427 |
Estimate of Fair Value | ||
Interest-bearing: | ||
Time (included $9,364 and $7,501 at fair value) | 9,364 | 7,501 |
Interest-bearing | ||
Time (included $2,121 and $1,306 at fair value) | $ 2,121 | $ 1,306 |
Earnings per share (Details)
Earnings per share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Earnings Per Share, Basic, Two Class Method [Abstract] | ||||
Net income | $ 6,290 | $ 5,980 | $ 12,204 | $ 11,249 |
Less: Preferred stock dividends | 380 | 268 | 704 | 495 |
Net income applicable to common equity | 5,910 | 5,712 | 11,500 | 10,754 |
Less: Dividends and undistributed earnings allocated to participating securities | 134 | 144 | 272 | 294 |
Net income applicable to common stockholders | $ 5,776 | $ 5,568 | $ 11,228 | $ 10,460 |
Weighted-average basic shares (in shares) | 3,707.8 | 3,780.6 | 3,716.6 | 3,783.9 |
Basic earnings per share (in dollars per share) | $ 1.56 | $ 1.47 | $ 3.02 | $ 2.76 |
Earnings Per Share, Diluted, Two Class Method [Abstract] | ||||
Net income applicable to common stockholders | $ 5,776 | $ 5,568 | $ 11,228 | $ 10,460 |
Weighted-average basic shares (in shares) | 3,707.8 | 3,780.6 | 3,716.6 | 3,783.9 |
Add: Employee stock options, SARs and warrants (in shares) | 35.8 | 31.9 | 33.9 | 34.2 |
Total weighted-average diluted shares (in shares) | 3,743.6 | 3,812.5 | 3,750.5 | 3,818.1 |
Diluted earnings per share (in dollars per share) | $ 1.54 | $ 1.46 | $ 2.99 | $ 2.74 |
Earnings Per Share, Diluted, Other Disclosures [Abstract] | ||||
Antidilutive securities excluded from computation of earnings per share (in shares) | 1 | 1 |
Accumulated Other Comprehens137
Accumulated Other Comprehensive Income/(Loss) - Rollforward (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Mar. 31, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Beginning Balance | $ 2,189 | ||||
Net change, unrealized gains/(losses) on AFS securities | $ (1,419) | $ 1,075 | (1,330) | $ 2,069 | |
Net change, translation adjustments, net of hedges | 3 | 12 | (7) | 10 | |
Net change, cash flow hedges | 80 | 68 | 157 | 127 | |
Net change, defined benefit pension and OPEB plans | 8 | 7 | 93 | 33 | |
Net change, accumulated other comprehensive income/(loss) | (1,328) | 1,162 | (1,087) | 2,239 | |
Ending Balance | 1,102 | 1,102 | |||
Accumulated other comprehensive income (loss) - supplemental information | |||||
Net pre-tax unrealized gains (losses) in AOCI on securities on the date of transfer | $ (9) | ||||
Unrealized gains/(losses) on investment securities | |||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Beginning Balance | 4,862 | 3,792 | 4,773 | 2,798 | |
Net change, unrealized gains/(losses) on AFS securities | (1,419) | 1,075 | (1,330) | 2,069 | |
Ending Balance | 3,443 | 4,867 | 3,443 | 4,867 | |
Translation adjustments, net of hedges | |||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Beginning Balance | (157) | (138) | (147) | (136) | |
Net change, translation adjustments, net of hedges | 3 | 12 | (7) | 10 | |
Ending Balance | (154) | (126) | (154) | (126) | |
Cash flow hedges | |||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Beginning Balance | (18) | (80) | (95) | (139) | |
Net change, cash flow hedges | 80 | 68 | 157 | 127 | |
Ending Balance | 62 | (12) | 62 | (12) | |
Defined benefit pension and OPEB plans | |||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Beginning Balance | (2,257) | (1,298) | (2,342) | (1,324) | |
Net change, defined benefit pension and OPEB plans | 8 | 7 | 93 | 33 | |
Ending Balance | (2,249) | (1,291) | (2,249) | (1,291) | |
Accumulated other comprehensive income/(loss) | |||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Beginning Balance | 2,430 | 2,276 | 2,189 | 1,199 | |
Net change, accumulated other comprehensive income/(loss) | (1,328) | 1,162 | (1,087) | 2,239 | |
Ending Balance | $ 1,102 | $ 3,438 | $ 1,102 | $ 3,438 |
Accumulated Other Comprehens138
Accumulated Other Comprehensive Income/(Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Unrealized gains/(losses) on AFS securities: | |||||
Net change, unrealized gains/(losses) on AFS securities | $ (1,419) | $ 1,075 | $ (1,330) | $ 2,069 | |
Translation adjustments: | |||||
Net change after tax | 3 | 12 | (7) | 10 | |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax [Abstract] | |||||
Net change | 80 | 68 | 157 | 127 | |
Defined benefit pension and OPEB plans: | |||||
Net change, defined benefit pension and OPEB plans | 8 | 7 | 93 | 33 | |
Total other comprehensive income, after–tax | (1,328) | 1,162 | (1,087) | 2,239 | |
Net losses reclassified from AOCI to other income | $ 150 | ||||
Unrealized gains/(losses) on investment securities | |||||
Unrealized gains/(losses) on AFS securities: | |||||
Net unrealized gains/(losses) arising during the period before tax | (2,343) | 1,778 | (2,118) | 3,399 | |
Net unrealized gains/(losses) arising during the period tax effect | 952 | (695) | 848 | (1,304) | |
Net unrealized gains/(losses) arising during the period after tax | (1,391) | 1,083 | (1,270) | 2,095 | |
Reclassification adjustment for realized (gains)/losses included in net income before tax | (44) | (12) | (96) | (42) | |
Reclassification adjustment for realized (gains)/losses included in net income tax effect | 16 | 4 | 36 | 16 | |
Reclassification adjustment for realized (gains)/losses included in net income after tax | (28) | (8) | (60) | (26) | |
Net change before tax | (2,387) | 1,766 | (2,214) | 3,357 | |
Net change tax effect | 968 | (691) | 884 | (1,288) | |
Net change, unrealized gains/(losses) on AFS securities | (1,419) | 1,075 | (1,330) | 2,069 | |
Translation adjustments, net of hedges | |||||
Translation adjustments: | |||||
Translation before tax | 267 | 218 | (733) | 372 | |
Translation tax effect | (117) | (79) | 261 | (142) | |
Translation after tax | 150 | 139 | (472) | 230 | |
Hedges before tax | (250) | (208) | 743 | (362) | |
Hedges tax effect | 103 | 81 | (278) | 142 | |
Hedges after tax | (147) | (127) | 465 | (220) | |
Net change before tax | 17 | 10 | 10 | 10 | |
Net change tax effect | (14) | 2 | (17) | 0 | |
Net change after tax | 3 | 12 | (7) | 10 | |
Cash flow hedges | |||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax [Abstract] | |||||
Net unrealized gains/(losses) arising during the period before tax | 120 | 143 | 71 | 215 | |
Net unrealized gains/(losses) arising during the period tax effect | (46) | (57) | (28) | (87) | |
Net unrealized gains/(losses) arising during the period after tax | 74 | 86 | 43 | 128 | |
Reclassification adjustment for realized (gains)/losses included in net income before tax | 7 | (29) | 182 | (2) | |
Reclassification adjustment for realized (gains)/losses included in net income tax effect | (1) | 11 | (68) | 1 | |
Reclassification adjustment for realized (gains)/losses included in net income after tax | 6 | (18) | 114 | (1) | |
Net change before tax | 127 | 114 | 253 | 213 | |
Net change tax effect | (47) | (46) | (96) | (86) | |
Net change | 80 | 68 | 157 | 127 | |
Defined benefit pension and OPEB plans | |||||
Defined benefit pension and OPEB plans: | |||||
Net gains/(losses) arising during the period before tax | 41 | 19 | 101 | 88 | |
Net gains/(losses) arising during the period tax effect | (15) | (8) | (39) | (34) | |
Net gains/(losses) arising during the period after tax | 26 | 11 | 62 | 54 | |
Reclassification adjustments included in net income, amortization of net loss before tax | 70 | 19 | 141 | 37 | |
Reclassification adjustments included in net income, amortization of net loss tax effect | (26) | (7) | (53) | (15) | |
Reclassification adjustments included in net income, amortization of net loss after tax | 44 | 12 | 88 | 22 | |
Reclassification adjustments included in net income, prior service costs/(credits) before tax | (9) | (12) | (18) | (22) | |
Reclassification adjustments included in net income, prior service costs/(credits) tax effect | 4 | 5 | 7 | 9 | |
Reclassification adjustments included in net income, prior service costs/(credits) after tax | (5) | (7) | (11) | (13) | |
Foreign exchange and other before tax | (33) | (15) | 0 | (19) | |
Foreign exchange and other tax effect | (24) | 6 | (46) | (11) | |
Foreign exchange and other after tax | (57) | (9) | (46) | (30) | |
Net change before tax | (69) | (11) | (224) | (84) | |
Net change tax effect | (61) | (4) | (131) | (51) | |
Net change, defined benefit pension and OPEB plans | 8 | 7 | 93 | 33 | |
Accumulated other comprehensive income/(loss) | |||||
Defined benefit pension and OPEB plans: | |||||
Total other comprehensive income/(loss) before tax | (2,174) | 1,901 | (1,727) | 3,664 | |
Total other comprehensive income/(loss) tax effect | 846 | (739) | 640 | (1,425) | |
Total other comprehensive income, after–tax | $ (1,328) | $ 1,162 | $ (1,087) | $ 2,239 |
Regulatory capital (Details)
Regulatory capital (Details) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Basel III | ||
Capital ratios | ||
CET1 - Minimum capital ratios | 4.50% | |
CET1 - Well-capitalized ratios | 6.50% | |
Tier 1 capital - Minimum capital ratio | 6.00% | |
Tier 1 capital - Well capitalized ratio | 8.00% | |
Total capital - Minumum capital ratio | 8.00% | |
Total capital - Well-capitalized ratio | 10.00% | |
Tier 1 leverage - Minimum capital ratio | 4.00% | |
Tier 1 leverage - Well-capitalized ratio | 5.00% | |
Adjustments to Capital for Deferred Tax Liabilities [Abstract] | ||
Adjustments to capital for deferred tax liabilities resulting from nontaxable business combinations | $ 117,000,000 | $ 130,000,000 |
Adjustments to capital for deferred tax liabilities resulting from tax-deductible goodwill | 2,800,000,000 | 2,700,000,000 |
JPMorgan Chase & Co. | Basel III | ||
Regulatory capital, assets and risk based ratios - supplemental information [Abstract] | ||
Trust preferred securities included in Basel III Tier I capital | 960,000,000 | |
JPMorgan Chase & Co. | Basel III Standardized Transitional | ||
Regulatory capital | ||
CET1 capital | 169,769,000,000 | 164,426,000,000 |
Tier 1 capital | 194,725,000,000 | 186,294,000,000 |
Total capital | 228,390,000,000 | 221,225,000,000 |
Assets | ||
Risk-weighted assets | 1,499,638,000,000 | 1,472,602,000,000 |
Adjusted average assets | $ 2,448,357,000,000 | $ 2,465,414,000,000 |
Capital ratios | ||
CET1 | 11.30% | 11.20% |
Tier 1 capital | 13.00% | 12.70% |
Total capital | 15.20% | 15.00% |
Tier 1 leverage | 8.00% | 7.60% |
JPMorgan Chase & Co. | Basel III Advanced Transitional | ||
Regulatory capital | ||
CET1 capital | $ 169,769,000,000 | $ 164,426,000,000 |
Tier 1 capital | 194,725,000,000 | 186,294,000,000 |
Total capital | 218,811,000,000 | 210,684,000,000 |
Assets | ||
Risk-weighted assets | 1,520,140,000,000 | 1,608,240,000,000 |
Adjusted average assets | $ 2,448,357,000,000 | $ 2,465,414,000,000 |
Capital ratios | ||
CET1 | 11.20% | 10.20% |
Tier 1 capital | 12.80% | 11.60% |
Total capital | 14.40% | 13.10% |
Tier 1 leverage | 8.00% | 7.60% |
JPMorgan Chase Bank, N.A. | Basel III | ||
Regulatory capital, assets and risk based ratios - supplemental information [Abstract] | ||
Trust preferred securities included in Basel III Tier I capital | $ 150,000,000 | |
JPMorgan Chase Bank, N.A. | Basel III Standardized Transitional | ||
Regulatory capital | ||
CET1 capital | 161,814,000,000 | $ 156,567,000,000 |
Tier 1 capital | 161,966,000,000 | 156,891,000,000 |
Total capital | 177,249,000,000 | 173,328,000,000 |
Assets | ||
Risk-weighted assets | 1,274,043,000,000 | 1,230,358,000,000 |
Adjusted average assets | $ 1,982,100,000,000 | $ 1,968,131,000,000 |
Capital ratios | ||
CET1 | 12.70% | 12.70% |
Tier 1 capital | 12.70% | 12.80% |
Total capital | 13.90% | 14.10% |
Tier 1 leverage | 8.20% | 8.00% |
JPMorgan Chase Bank, N.A. | Basel III Advanced Transitional | ||
Regulatory capital | ||
CET1 capital | $ 161,814,000,000 | $ 156,567,000,000 |
Tier 1 capital | 161,966,000,000 | 156,891,000,000 |
Total capital | 170,346,000,000 | 166,331,000,000 |
Assets | ||
Risk-weighted assets | 1,275,783,000,000 | 1,330,175,000,000 |
Adjusted average assets | $ 1,982,100,000,000 | $ 1,968,131,000,000 |
Capital ratios | ||
CET1 | 12.70% | 11.80% |
Tier 1 capital | 12.70% | 11.80% |
Total capital | 13.40% | 12.50% |
Tier 1 leverage | 8.20% | 8.00% |
Chase Bank USA, N.A. | Basel III | ||
Regulatory capital, assets and risk based ratios - supplemental information [Abstract] | ||
Trust preferred securities included in Basel III Tier I capital | $ 0 | |
Chase Bank USA, N.A. | Basel III Standardized Transitional | ||
Regulatory capital | ||
CET1 capital | 15,002,000,000 | $ 14,556,000,000 |
Tier 1 capital | 15,002,000,000 | 14,556,000,000 |
Total capital | 20,952,000,000 | 20,517,000,000 |
Assets | ||
Risk-weighted assets | 101,754,000,000 | 103,468,000,000 |
Adjusted average assets | $ 129,421,000,000 | $ 128,111,000,000 |
Capital ratios | ||
CET1 | 14.70% | 14.10% |
Tier 1 capital | 14.70% | 14.10% |
Total capital | 20.60% | 19.80% |
Tier 1 leverage | 11.60% | 11.40% |
Chase Bank USA, N.A. | Basel III Advanced Transitional | ||
Regulatory capital | ||
CET1 capital | $ 15,002,000,000 | $ 14,556,000,000 |
Tier 1 capital | 15,002,000,000 | 14,556,000,000 |
Total capital | 19,652,000,000 | 19,206,000,000 |
Assets | ||
Risk-weighted assets | 156,286,000,000 | 157,565,000,000 |
Adjusted average assets | $ 129,421,000,000 | $ 128,111,000,000 |
Capital ratios | ||
CET1 | 9.60% | 9.20% |
Tier 1 capital | 9.60% | 9.20% |
Total capital | 12.60% | 12.20% |
Tier 1 leverage | 11.60% | 11.40% |
Off-Balance Sheet Lending-Re140
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments (Details) - USD ($) $ in Millions | 6 Months Ended | |||||
Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | $ 935,582 | $ 950,997 | $ 1,041,373 | |||
Off-balance sheet lending-related financial commitments, carrying value | 1,094 | 1,176 | ||||
Allowance for lending-related commitments | 231 | $ 252 | 275 | 436 | $ 564 | $ 681 |
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | ||||||
Standby letters of credit, unissued commitments | 44,900 | 45,600 | ||||
Unfunded commitments investments private equity funds third party | 140 | 147 | ||||
Unfunded commitments investments other equity investments | 1,100 | 961 | ||||
Investments entities that calculate net asset value per share, unfunded commitments | 155 | 150 | ||||
Commitments to extend credit leveraged and acquisition finance activities | 29,300 | 23,400 | ||||
Maximum | ||||||
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | ||||||
Secured clearance advance facility outstanding commitment | 11,300 | 12,600 | ||||
Expires in one year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 642,639 | |||||
Expires after one year through three years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 128,719 | |||||
Expires after three years through five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 145,474 | |||||
Expires after five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 18,750 | |||||
Wholesale | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | $ 352,048 | $ 451,275 | ||||
Lending-Related Commitments | Days Past Due, 60 or More | Credit Card | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Line of credit close criteria, period past due | 60 days | |||||
Consumer Loan | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | $ 583,534 | 584,116 | ||||
Off-balance sheet lending-related financial commitments, carrying value | 15 | 13 | ||||
Consumer Loan | Expires in one year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 560,593 | |||||
Consumer Loan | Expires after one year through three years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 11,859 | |||||
Consumer Loan | Expires after three years through five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 2,335 | |||||
Consumer Loan | Expires after five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 8,747 | |||||
Consumer loan excluding credit card | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 59,817 | 58,153 | ||||
Off-balance sheet lending-related financial commitments, carrying value | 15 | 13 | ||||
Consumer loan excluding credit card | Expires in one year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 36,876 | |||||
Consumer loan excluding credit card | Expires after one year through three years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 11,859 | |||||
Consumer loan excluding credit card | Expires after three years through five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 2,335 | |||||
Consumer loan excluding credit card | Expires after five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 8,747 | |||||
Home equity - senior lien | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 11,085 | 11,807 | ||||
Off-balance sheet lending-related financial commitments, carrying value | 0 | 0 | ||||
Home equity - senior lien | Expires in one year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 1,826 | |||||
Home equity - senior lien | Expires after one year through three years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 4,364 | |||||
Home equity - senior lien | Expires after three years through five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 996 | |||||
Home equity - senior lien | Expires after five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 3,899 | |||||
Home equity - junior lien | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 13,158 | 14,859 | ||||
Off-balance sheet lending-related financial commitments, carrying value | 0 | 0 | ||||
Home equity - junior lien | Expires in one year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 2,927 | |||||
Home equity - junior lien | Expires after one year through three years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 5,291 | |||||
Home equity - junior lien | Expires after three years through five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 1,039 | |||||
Home equity - junior lien | Expires after five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 3,901 | |||||
Prime mortgage | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 13,526 | 8,579 | ||||
Off-balance sheet lending-related financial commitments, carrying value | 0 | 0 | ||||
Prime mortgage | Expires in one year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 13,526 | |||||
Prime mortgage | Expires after one year through three years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 0 | |||||
Prime mortgage | Expires after three years through five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 0 | |||||
Prime mortgage | Expires after five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 0 | |||||
Auto | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 9,255 | 10,462 | ||||
Off-balance sheet lending-related financial commitments, carrying value | 3 | 2 | ||||
Auto | Expires in one year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 7,647 | |||||
Auto | Expires after one year through three years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 1,365 | |||||
Auto | Expires after three years through five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 211 | |||||
Auto | Expires after five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 32 | |||||
Business banking | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 12,316 | 11,894 | ||||
Off-balance sheet lending-related financial commitments, carrying value | 12 | 11 | ||||
Business banking | Expires in one year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 10,923 | |||||
Business banking | Expires after one year through three years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 834 | |||||
Business banking | Expires after three years through five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 89 | |||||
Business banking | Expires after five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 470 | |||||
Student and other | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 477 | 552 | ||||
Off-balance sheet lending-related financial commitments, carrying value | 0 | 0 | ||||
Student and other | Expires in one year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 27 | |||||
Student and other | Expires after one year through three years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 5 | |||||
Student and other | Expires after three years through five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 0 | |||||
Student and other | Expires after five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 445 | |||||
Credit Card | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 523,717 | 525,963 | ||||
Off-balance sheet lending-related financial commitments, carrying value | 0 | 0 | ||||
Credit Card | Expires in one year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 523,717 | |||||
Credit Card | Expires after one year through three years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 0 | |||||
Credit Card | Expires after three years through five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 0 | |||||
Credit Card | Expires after five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 0 | |||||
Commercial loan | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 352,048 | 366,881 | ||||
Off-balance sheet lending-related financial commitments, carrying value | 1,079 | $ 1,163 | ||||
Commercial loan | Expires in one year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 82,046 | |||||
Commercial loan | Expires after one year through three years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 116,860 | |||||
Commercial loan | Expires after three years through five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 143,139 | |||||
Commercial loan | Expires after five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | $ 10,003 | |||||
Commercial loan | Wholesale | Total U.S. | ||||||
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | ||||||
Off balance sheet lending related financial commitments, percent | 76.00% | 73.00% | ||||
Other unfunded commitments to extend credit | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | $ 262,436 | $ 272,676 | ||||
Off-balance sheet lending-related financial commitments, carrying value | 327 | 374 | ||||
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | ||||||
Off balance sheet lending related commitments wholesale contractual amount net of risk participations other unfunded commitments to extend credit | 239 | 243 | ||||
Credit enhancements and bond and commercial paper liquidity commitments to US states and municipalities hospitals and other not for profit entities | 14,000 | 14,800 | ||||
Other unfunded commitments to extend credit | Expires in one year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 58,701 | |||||
Other unfunded commitments to extend credit | Expires after one year through three years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 85,922 | |||||
Other unfunded commitments to extend credit | Expires after three years through five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 110,091 | |||||
Other unfunded commitments to extend credit | Expires after five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 7,722 | |||||
Standby letters of credit and other financial guarantees | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 85,424 | 89,874 | ||||
Off-balance sheet lending-related financial commitments, carrying value | 751 | 788 | ||||
Allowance for lending-related commitments | 277 | 234 | ||||
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | ||||||
Off balance sheet Lending related commitments Wholesale Contractual amount Net of Risk Participations Standby letters of credit and other financial guarantees | 12,500 | 13,000 | ||||
Credit enhancements and bond and commercial paper liquidity commitments to US states and municipalities hospitals and other not for profit entities | 10,800 | 13,300 | ||||
Standby letters of credit and other financial guarantees | Expires in one year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 20,104 | |||||
Standby letters of credit and other financial guarantees | Expires after one year through three years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 30,071 | |||||
Standby letters of credit and other financial guarantees | Expires after three years through five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 32,968 | |||||
Standby letters of credit and other financial guarantees | Expires after five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 2,281 | |||||
Other letters of credit | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 4,188 | 4,331 | ||||
Off-balance sheet lending-related financial commitments, carrying value | 1 | 1 | ||||
Allowance for lending-related commitments | 1 | 1 | ||||
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | ||||||
Off balance sheet Lending related commitments Wholesale Contractual amount Net of Risk Participations Other letters of credit | 376 | 469 | ||||
Other letters of credit | Expires in one year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 3,241 | |||||
Other letters of credit | Expires after one year through three years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 867 | |||||
Other letters of credit | Expires after three years through five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 80 | |||||
Other letters of credit | Expires after five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, contractual amount | 0 | |||||
Securities lending indemnification agreements and guarantees | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 190,441 | 171,059 | ||||
Guarantor obligations, current carrying value | 0 | 0 | ||||
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | ||||||
Indemnification agreement securities lending guarantees collateral held in support of | 197,600 | 177,100 | ||||
Securities lending indemnification agreements and guarantees | Expires in one year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 190,441 | |||||
Securities lending indemnification agreements and guarantees | Expires after one year through three years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 0 | |||||
Securities lending indemnification agreements and guarantees | Expires after three years through five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 0 | |||||
Securities lending indemnification agreements and guarantees | Expires after five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 0 | |||||
Derivatives qualifying as guarantees | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 51,476 | 53,589 | ||||
Guarantor obligations, current carrying value | 103 | 80 | ||||
Derivatives qualifying as guarantees | Expires in one year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 930 | |||||
Derivatives qualifying as guarantees | Expires after one year through three years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 293 | |||||
Derivatives qualifying as guarantees | Expires after three years through five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 11,459 | |||||
Derivatives qualifying as guarantees | Expires after five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 38,794 | |||||
Unsettled reverse repurchase and securities borrowing agreements | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 49,684 | 40,993 | ||||
Guarantor obligations, current carrying value | 0 | 0 | ||||
Unsettled reverse repurchase and securities borrowing agreements | Expires in one year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 49,684 | |||||
Unsettled reverse repurchase and securities borrowing agreements | Expires after one year through three years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 0 | |||||
Unsettled reverse repurchase and securities borrowing agreements | Expires after three years through five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 0 | |||||
Unsettled reverse repurchase and securities borrowing agreements | Expires after five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 0 | |||||
Mortgage repurchase liability | Warranty Reserves | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Allowance for lending-related commitments | 231 | 275 | ||||
Loans sold with recourse | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Indemnification agreements loan sale and securitization loans sold with recourse contractual amount | 5,173 | 6,063 | ||||
Indemnification agreements, loan sale and securitization, loans sold with recourse: carrying value | 92 | 102 | ||||
Other guarantees and commitments | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 5,984 | 5,720 | ||||
Guarantor obligations, current carrying value | (107) | (121) | ||||
Other guarantees and commitments | Expires in one year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 797 | |||||
Other guarantees and commitments | Expires after one year through three years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 1,635 | |||||
Other guarantees and commitments | Expires after three years through five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 2,259 | |||||
Other guarantees and commitments | Expires after five years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | 1,293 | |||||
Letters of credit hedged by derivative transactions | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, contractual amount | $ 4,400 | $ 4,500 |
Off-Balance Sheet Lending-Re141
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments - Standby Letters of Credit and Other Financial Guarantees (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Standby letters of credit and other financial guarantees and other letters of credit [Abstract] | ||||||
Total lending-related commitments | $ 935,582 | $ 950,997 | $ 1,041,373 | |||
Allowance for lending-related commitments | 231 | $ 252 | 275 | $ 436 | $ 564 | $ 681 |
Derivatives qualifying as guarantees | ||||||
Derivative, notional amount | 53,708,000 | 63,662,000 | ||||
Standby and Other Letters of Credit | ||||||
Standby letters of credit and other financial guarantees and other letters of credit [Abstract] | ||||||
Standby and other letters of credit, carrying value | 752 | 789 | ||||
Standby and other letters of credit, allowance | 278 | 235 | ||||
Guarantor obligations, current carrying value | 474 | 554 | ||||
Standby letters of credit and other financial guarantees | ||||||
Standby letters of credit and other financial guarantees and other letters of credit [Abstract] | ||||||
Standby letters of credit and other financial guarantees, investment grade | 61,972 | 66,856 | ||||
Standby letters of credit and other financial guarantees, non-investment grade | 23,452 | 23,018 | ||||
Total lending-related commitments | 85,424 | 89,874 | ||||
Allowance for lending-related commitments | 277 | 234 | ||||
Standby letters of credit and other financial guarantees, collateral held | 37,595 | 39,726 | ||||
Other letters of credit | ||||||
Standby letters of credit and other financial guarantees and other letters of credit [Abstract] | ||||||
Standby letters of credit and other financial guarantees, investment grade | 3,534 | 3,476 | ||||
Standby letters of credit and other financial guarantees, non-investment grade | 654 | 855 | ||||
Total lending-related commitments | 4,188 | 4,331 | ||||
Allowance for lending-related commitments | 1 | 1 | ||||
Other letters of credit, collateral held | 1,275 | 1,509 | ||||
Derivatives qualifying as guarantees | ||||||
Standby letters of credit and other financial guarantees and other letters of credit [Abstract] | ||||||
Guarantor obligations, current carrying value | 103 | 80 | ||||
Derivatives qualifying as guarantees | ||||||
Other guarantees and commitments, contractual amount | 51,476 | 53,589 | ||||
Derivative, notional amount | 28,100 | 27,500 | ||||
Derivatives maximum exposure to loss | 3,000 | 2,900 | ||||
Derivative qualifying as guarantees payables | 129 | 102 | ||||
Derivative qualifying as guarantees receivables | $ 26 | $ 22 |
Off-Balance Sheet Lending-Re142
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments - Loan Sales- and Securitization-Related Indemnifications (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Summary of changes in mortgage repurchase liability | |||||
Repurchase liability at beginning of period | $ 252 | $ 564 | $ 275 | $ 681 | |
Net realized gains/(losses) | 7 | 8 | 17 | 19 | |
Provision for repurchase losses | (28) | (136) | (61) | (264) | |
Repurchase liability at end of period | 231 | 436 | 231 | 436 | |
Loans sold with recourse | |||||
Loans sold with recourse | |||||
Indemnification agreements loan sale and securitization loans sold with recourse contractual amount | 5,173 | 5,173 | $ 6,063 | ||
Indemnification agreements, loan sale and securitization, loans sold with recourse: carrying value | 92 | 92 | $ 102 | ||
Warranty Reserves | Mortgage repurchase liability | |||||
Summary of changes in mortgage repurchase liability | |||||
Repurchase liability at beginning of period | 275 | ||||
Repurchase liability at end of period | 231 | 231 | |||
Repurchase Make-Whole Settlements | Warranty Reserves | Mortgage repurchase liability | |||||
Summary of changes in mortgage repurchase liability | |||||
Net realized gains/(losses) | (2) | (1) | (4) | (3) | |
Reserves for New Mortgage Loans Sold During the Period | Warranty Reserves | Mortgage repurchase liability | |||||
Summary of changes in mortgage repurchase liability | |||||
Valuation allowances and reserves provision | $ 1 | $ 1 | $ 2 | $ 2 |
Pledged assets and collateral (
Pledged assets and collateral (Details) - USD ($) $ in Billions | Jun. 30, 2015 | Dec. 31, 2014 |
Pledged assets and Collateral | ||
Financial instruments pledged by the Firm that may not be sold or repledged by the secured parties | $ 56.8 | $ 60.1 |
Assets accepted by the Firm as collateral that it could sell or repedge, deliver or otherwise use at fair value | 775 | 761.7 |
Assets accepted by the Firm as collateral that the Firm has sold or repledged | 617.7 | 596.8 |
Assets pledged to Federal Reserve Banks and Federal Home Loan Banks | ||
Pledged assets and Collateral | ||
Pledged assets | $ 383.4 | $ 324.5 |
Litigation (Details)
Litigation (Details) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||||||||
Jul. 31, 2015USD ($)plantiffs | May. 31, 2015USD ($) | Jul. 31, 2014actionsplantiffs | May. 31, 2010USD ($) | Jun. 30, 2015USD ($)actionsentitiesclaimstrustinvestors | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($)offeringsactionsentitiesclaimstrustinvestorsdefendantmunicipalities | Jun. 30, 2014USD ($) | Mar. 31, 2014actions | Sep. 30, 2013actions | Mar. 31, 2013actions | Mar. 31, 2012employees | |
CIO Investigations and Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | actions | 7 | 7 | ||||||||||
Madoff Litigation and Investigations | New York federal and state court | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | actions | 2 | 3 | 3 | |||||||||
General Motors Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | actions | 2 | 2 | ||||||||||
Syndicated term loan facility for General Motors Corporation | $ 1,500,000,000 | $ 1,500,000,000 | ||||||||||
Interchange Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Settlement amount agreed to pay by defendant group | $ 6,100,000,000 | |||||||||||
Settlement amount consideration percentage | 20.00% | |||||||||||
Loss contingency, settlement agreement, consideration, basis points of interchange | 0.10% | |||||||||||
Settlement agreement consideration period class plaintiffs to receive basis points of interchange | 8 months | |||||||||||
Period from end of the opt-out period | 60 days | |||||||||||
Investment Management Litigation | Assured Guaranty (U.K.) and Ambac Assurance UK Limited | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | actions | 2 | 2 | ||||||||||
Investment Management Litigation | Assured Guaranty (U.K.) and Ambac Assurance UK Limited | Minimum | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Damages sought value (more than $1billion) | $ 1,000,000,000 | |||||||||||
Lehman Brothers Bankruptcy Proceedings | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Damages sought value (more than $1billion) | $ 7,900,000,000 | |||||||||||
Lehman Brothers Bankruptcy Proceedings | Minimum | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Damages sought, counterclaims value (more than) | $ 25,000,000,000 | |||||||||||
LIBOR and Other Benchmark Rate Investigations and Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | actions | 3 | 3 | 2 | 3 | ||||||||
Madoff Litigation, related to Fairfield | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | actions | 2 | 2 | ||||||||||
Damages sought recoveries value | $ 155,000,000 | |||||||||||
Breach of Fiduciary Duty Litigation | Madoff Litigation and Investigations | New York State Court | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | actions | 5 | 5 | ||||||||||
MF Global | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of defendants out of a group of defendants | defendant | 1 | |||||||||||
Mortgage Backed Securities Litigation and Regulatory Investigations | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
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 | $ 22,800,000,000 | $ 22,800,000,000 | ||||||||||
Amount of original principal balance of MBS involved claims by investors or monoline insurers against JPMC, Bear Stearns or Washington Mutual as issuer | 20,700,000,000 | 20,700,000,000 | ||||||||||
Amount of original principal balance of MBS involved claims by investors or monoline insurers against JPMC, Bear Stearns or Washington Mutual as underwriter | $ 2,100,000,000 | $ 2,100,000,000 | ||||||||||
Mortgage Backed Securities Litigation and Regulatory Investigations | New York State Court | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Claims dismissed | actions | 2 | |||||||||||
Mortgage Backed Securities Litigation Related to MBS Offerings Sponsored By EMC | Monoline Insurer | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | actions | 2 | 2 | ||||||||||
Number of offerings by entity related to filed suit | offerings | 11 | |||||||||||
Mortgage Backed Securities Litigation Related to MBS Offerings Sponsored By EMC | Underwriter actions | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | actions | 1 | 1 | ||||||||||
Mortgage Backed Securities Litigation Related to MBS Offerings Sponsored By Washington Mutual | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of institutional MBS investors directing or threatening litigation | investors | 21 | 21 | ||||||||||
Mortgage Backed Securities Litigation Related to MBS Offerings Issued By JPMC and Bear Stearns | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Loss contingency, settlement agreement, consideration | $ 4,500,000,000 | |||||||||||
Number of MBS for which repurchase and servicing claims have been or could have been assumed | trust | 330 | |||||||||||
Number of trustees for the MBS trusts | trust | 7 | 7 | ||||||||||
Number of MBS trusts for which Offer is Accepted In Part or In Whole | trust | 319 | 319 | ||||||||||
Number of MBS trusts excluded from the settlement in part of in whole | trust | 16 | 16 | ||||||||||
Mortgage-Related Investigations and Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | actions | 1 | 1 | ||||||||||
Number of municipalities pursuing investigations into the impact if any of alleged violations of the FHA and ECOA on their respective communities | municipalities | 3 | |||||||||||
Mortgage-Related Investigations and Litigation | Shareholder Derivative Action | New York State Supreme Court | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | actions | 1 | 1 | ||||||||||
Municipal Derivatives Investigations and Litigation | Minimum | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Warrants the firm was chosen to underwrite based upon alleged payments made to certain third parties (more than) | $ 3,000,000,000 | |||||||||||
Parmalat | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of former employees intended to be charged with conspiracy | employees | 4 | |||||||||||
Parmalat | Civil Action | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | actions | 5 | 5 | ||||||||||
Parmalat | Claw-back Actions | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | actions | 2 | 2 | ||||||||||
Parmalat | Claims Relating to Derivatives Transactions | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | claims | 2 | 2 | ||||||||||
Petters Bankruptcy and Related Matters | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Damages sought recoveries value | $ 450,000,000 | |||||||||||
Number of entities whose trustee in bankruptcy brought actions against JPMorgan Chase | entities | 3 | 3 | ||||||||||
Number of credit facilities entered into with Polaroid | entities | 2 | 2 | ||||||||||
Washington Mutual Litigations, not specifically in connection with disputed assets | Plaintiff, Deutsche Bank National Trust Company | Minimum | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Damages sought value (more than $1billion) | $ 6,000,000,000 | |||||||||||
Washington Mutual Litigations, not specifically in connection with disputed assets | Plaintiff, Deutsche Bank National Trust Company | Maximum | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Damages sought value (more than $1billion) | 10,000,000,000 | |||||||||||
Threatened or Pending Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Loss contingency, loss in period | $ 291,000,000 | $ 669,000,000 | 978,000,000 | $ 707,000,000 | ||||||||
Threatened or Pending Litigation | Minimum | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Loss contingency range of possible loss | 0 | 0 | ||||||||||
Threatened or Pending Litigation | Maximum | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Loss contingency range of possible loss | $ 5,500,000,000 | $ 5,500,000,000 | ||||||||||
Litigation Dismissed | CIO Investigations and Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | actions | 6 | 6 | ||||||||||
Dismissal affirmed on appeal | CIO Investigations and Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Claims dismissed | claims | 1 | |||||||||||
Appealed dismissals | CIO Investigations and Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | actions | 3 | 3 | ||||||||||
Not Appealed | Madoff Litigation and Investigations | New York federal and state court | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of plaintiffs | plantiffs | 1 | |||||||||||
U.S. Department of Justice | Foreign Exchange Investigations and Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Loss contingency, settlement agreement, consideration | $ 550,000,000 | |||||||||||
Federal Reserve | Foreign Exchange Investigations and Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Loss contingency, settlement agreement, consideration | $ 342,000,000 | |||||||||||
Total international | Foreign Exchange Investigations and Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | actions | 2 | |||||||||||
Subsequent event | Attorneys General | Sworn Documents, Debt Sales and Collection Litigation Practices [Member] | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of plaintiffs | plantiffs | 47 | |||||||||||
Loss contingency, settlement agreement, consideration | $ 96,000,000 | |||||||||||
Investigative Costs, Amount | 11,000,000 | |||||||||||
Subsequent event | Consumer Financial Protection Bureau | Sworn Documents, Debt Sales and Collection Litigation Practices [Member] | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Loss contingency, settlement agreement, consideration | 30,000,000 | |||||||||||
Subsequent event | The Office of the Comptroller of the Currency | Sworn Documents, Debt Sales and Collection Litigation Practices [Member] | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Loss contingency, settlement agreement, consideration | $ 30,000,000 |
Business segments (Details)
Business segments (Details) $ in Millions | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($)segment | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($) | [1] | |||
Segment Reporting Information [Line Items] | ||||||||
Number of reportable segments | segment | 4 | |||||||
Noninterest revenue | $ 13,128 | $ 13,880 | $ 26,517 | $ 26,428 | ||||
Net interest income | 10,684 | 10,798 | 21,361 | 21,465 | ||||
Total net revenue | 23,812 | 24,678 | 47,878 | 47,893 | ||||
Provision for credit losses | 935 | 692 | 1,894 | 1,542 | ||||
Noninterest expense | 14,500 | 15,431 | 29,383 | 30,067 | ||||
Income before income tax expense | 8,377 | 8,555 | 16,601 | 16,284 | ||||
Income tax expense/(benefit) | 2,087 | 2,575 | 4,397 | 5,035 | ||||
Net income | 6,290 | 5,980 | 12,204 | 11,249 | ||||
Average common equity | 213,738 | 206,159 | 213,049 | 203,989 | ||||
Assets | $ 2,449,599 | [1] | $ 2,519,995 | $ 2,449,599 | [1] | $ 2,519,995 | $ 2,572,773 | |
Return on average common equity | 11.00% | 11.00% | 11.00% | 11.00% | ||||
Overhead ratio | 61.00% | 63.00% | 61.00% | 63.00% | ||||
Operating Segments | Consumer & Community Banking | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 4,089 | $ 4,468 | $ 7,825 | $ 7,902 | ||||
Net interest income | 6,926 | 7,050 | 13,894 | 14,150 | ||||
Total net revenue | 11,015 | 11,518 | 21,719 | 22,052 | ||||
Provision for credit losses | 702 | 852 | 1,632 | 1,668 | ||||
Noninterest expense | 6,210 | 6,456 | 12,400 | 12,893 | ||||
Income before income tax expense | 4,103 | 4,210 | 7,687 | 7,491 | ||||
Income tax expense/(benefit) | 1,570 | 1,714 | 2,935 | 3,014 | ||||
Net income | 2,533 | 2,496 | 4,752 | 4,477 | ||||
Average common equity | 51,000 | 51,000 | 51,000 | 51,000 | ||||
Assets | $ 472,181 | $ 447,277 | $ 472,181 | $ 447,277 | ||||
Return on average common equity | 19.00% | 19.00% | 18.00% | 17.00% | ||||
Overhead ratio | 56.00% | 56.00% | 57.00% | 58.00% | ||||
Operating Segments | Corporate & Investment Bank | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 6,233 | $ 6,519 | $ 13,307 | $ 12,745 | ||||
Net interest income | 2,490 | 2,746 | 4,998 | 5,362 | ||||
Total net revenue | 8,723 | 9,265 | 18,305 | 18,107 | ||||
Provision for credit losses | 50 | (84) | 19 | (35) | ||||
Noninterest expense | 5,137 | 6,058 | 10,794 | 11,662 | ||||
Income before income tax expense | 3,536 | 3,291 | 7,492 | 6,480 | ||||
Income tax expense/(benefit) | 1,195 | 1,160 | 2,614 | 2,224 | ||||
Net income | 2,341 | 2,131 | 4,878 | 4,256 | ||||
Average common equity | 62,000 | 61,000 | 62,000 | 61,000 | ||||
Assets | $ 819,745 | $ 872,947 | $ 819,745 | $ 872,947 | ||||
Return on average common equity | 14.00% | 13.00% | 15.00% | 13.00% | ||||
Overhead ratio | 59.00% | 65.00% | 59.00% | 64.00% | ||||
Operating Segments | Commercial Banking | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 609 | $ 577 | $ 1,245 | $ 1,135 | ||||
Net interest income | 1,130 | 1,154 | 2,236 | 2,274 | ||||
Total net revenue | 1,739 | 1,731 | 3,481 | 3,409 | ||||
Provision for credit losses | 182 | (67) | 243 | (62) | ||||
Noninterest expense | 703 | 675 | 1,412 | 1,361 | ||||
Income before income tax expense | 854 | 1,123 | 1,826 | 2,110 | ||||
Income tax expense/(benefit) | 329 | 446 | 703 | 839 | ||||
Net income | 525 | 677 | 1,123 | 1,271 | ||||
Average common equity | 14,000 | 14,000 | 14,000 | 14,000 | ||||
Assets | $ 201,377 | $ 192,523 | $ 201,377 | $ 192,523 | ||||
Return on average common equity | 14.00% | 19.00% | 15.00% | 18.00% | ||||
Overhead ratio | 40.00% | 39.00% | 41.00% | 40.00% | ||||
Operating Segments | Asset Management | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 2,544 | $ 2,380 | $ 4,928 | $ 4,598 | ||||
Net interest income | 631 | 602 | 1,252 | 1,184 | ||||
Total net revenue | 3,175 | 2,982 | 6,180 | 5,782 | ||||
Provision for credit losses | 0 | 1 | 4 | (8) | ||||
Noninterest expense | 2,406 | 2,062 | 4,581 | 4,137 | ||||
Income before income tax expense | 769 | 919 | 1,595 | 1,653 | ||||
Income tax expense/(benefit) | 318 | 350 | 642 | 630 | ||||
Net income | 451 | 569 | 953 | 1,023 | ||||
Average common equity | 9,000 | 9,000 | 9,000 | 9,000 | ||||
Assets | $ 134,059 | $ 128,362 | $ 134,059 | $ 128,362 | ||||
Return on average common equity | 19.00% | 25.00% | 21.00% | 22.00% | ||||
Overhead ratio | 76.00% | 69.00% | 74.00% | 72.00% | ||||
Operating Segments | Corporate | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 100 | $ 351 | $ 140 | $ 875 | ||||
Net interest income | (221) | (510) | (474) | (1,035) | ||||
Total net revenue | (121) | (159) | (334) | (160) | ||||
Provision for credit losses | 1 | (10) | (4) | (21) | ||||
Noninterest expense | 44 | 180 | 196 | 14 | ||||
Income before income tax expense | (166) | (329) | (526) | (153) | ||||
Income tax expense/(benefit) | (606) | (436) | (1,024) | (375) | ||||
Net income | 440 | 107 | 498 | 222 | ||||
Average common equity | 77,738 | 71,159 | 77,049 | 68,989 | ||||
Assets | 822,237 | 878,886 | 822,237 | 878,886 | ||||
Reconciling Items | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | (447) | (415) | (928) | (827) | ||||
Net interest income | (272) | (244) | (545) | (470) | ||||
Total net revenue | (719) | (659) | (1,473) | (1,297) | ||||
Provision for credit losses | 0 | 0 | 0 | 0 | ||||
Noninterest expense | 0 | 0 | 0 | 0 | ||||
Income before income tax expense | (719) | (659) | (1,473) | (1,297) | ||||
Income tax expense/(benefit) | (719) | (659) | (1,473) | (1,297) | ||||
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, 2015, and December 31, 2014. 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, 2015 Dec 31, 2014Assets Trading assets$5,168 $9,090Loans67,116 68,880All other assets2,274 1,815Total assets$74,558 $79,785Liabilities Beneficial interests issued by consolidated variable interest entities$50,002 $52,362All other liabilities868 949Total liabilities$50,870 $53,311The 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, 2015, and December 31, 2014, the Firm provided limited program-wide credit enhancement of $2.0 billion related to its Firm-administered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 15. |